|
|
|
|
|
|
|
|
|
|
Previous: TARGET CORP, 10-K, 2000-04-10 |
Next: TARGET CORP, 10-K, 2000-04-10 |
EXHIBIT (12)
TARGET CORPORATION
Computations of Ratios of Earnings to Fixed Charges and
Ratios of Earnings to Fixed Charges and Preferred Stock Dividends
(Millions of Dollars)
| |
Fiscal Year Ended |
|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| |
Jan. 29, 2000 |
Jan. 30, 1999 |
Jan. 31, 1998 |
Feb. 1, 1997 |
Feb. 3, 1996 |
|||||||||||
| Ratio of Earnings to Fixed Charges: | ||||||||||||||||
| Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Consolidated net earnings before extraordinary charges | $ | 1,185 | $ | 962 | $ | 802 | $ | 474 | $ | 311 | ||||||
| Income taxes | 751 | 594 | 524 | 309 | 190 | |||||||||||
| Total earnings before extraordinary charges | 1,936 | 1,556 | 1,326 | 783 | 501 | |||||||||||
| Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expense | 415 | 421 | 437 | 464 | 461 | |||||||||||
| Interest portion of rental expense | 69 | 63 | 59 | 59 | 59 | |||||||||||
| Total fixed charges | 484 | 484 | 496 | 523 | 520 | |||||||||||
| Less: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Capitalized interest | (16 | ) | (16 | ) | (16 | ) | (16 | ) | (14 | ) | ||||||
| Fixed charges in earnings | 468 | 468 | 480 | 507 | 506 | |||||||||||
| Earnings available for fixed charges | $ | 2,404 | $ | 2,024 | $ | 1,806 | $ | 1,290 | $ | 1,007 | ||||||
| Ratio of earnings before extraordinary charges to fixed charges | 4.96 | 4.18 | 3.65 | 2.46 | 1.94 | |||||||||||
| Ratio of Earnings to Fixed Charges and Preferred Stock Dividends: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total fixed charges, as above |
|
$ |
484 |
|
$ |
484 |
|
$ |
496 |
|
$ |
523 |
|
$ |
520 |
|
| Dividends on preferred stock (pre-tax basis) | 29 | 32 | 35 | 37 | 37 | |||||||||||
| Total fixed charges and preferred stock dividends | 513 | 516 | 531 | 560 | 557 | |||||||||||
| Earnings available for fixed charges and preferred stock dividends | $ | 2,404 | $ | 2,024 | $ | 1,806 | $ | 1,290 | $ | 1,007 | ||||||
| Ratio of earnings before extraordinary charges to fixed charges and preferred stock dividends |
|
|
4.69 |
|
|
3.92 |
|
|
3.40 |
|
|
2.30 |
|
|
1.81 |
|
|
|