Exhibit 12.1
Kohl's Corporation
Ratio of Earnings to Fixed Charges
($000s)
Fiscal Year (1)
--------------------------------------------------------------------------------
2002 2001 2000 1999 1998
---- ---- ---- ---- ----
Earnings
- --------
Income before income taxes $ 1,034,374 $ 799,864 $ 605,114 $ 421,112 $ 316,749
Fixed charges (2) 161,091 142,244 116,753 82,835 63,135
Less interest capitalized
during period (9,820) (6,929) (3,478) (4,405) (1,878)
-------------- ------------- ------------- ------------- ------------
$ 1,185,645 $ 935,179 $ 718,389 $ 499,542 $ 378,006
============== ============= ============= ============= ============
Fixed Charges
- -------------
Interest (expensed or capitalized) $ 68,298 $ 63,506 $ 52,305 $ 33,813 $ 24,550
Portion of rent expense
representative of interest 91,822 77,964 63,943 48,769 38,385
Amortization of deferred
financing fees 971 774 505 253 200
-------------- ------------- ------------- ------------- ------------
$ 161,091 $ 142,244 $ 116,753 $ 82,835 $ 63,135
============== ============= ============= ============= ============
Ratio of earnings to fixed charges 7.36 6.57 6.15 6.03 5.99
============== ============= ============= ============= ============
(1) Fiscal 2002, 2001, 1999 and 1998 were 52 week years and fiscal 2000 was a 53
week year.