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
	Feb. 3, 2001			Jan. 29, 2000			Jan. 30, 1999			Jan. 31, 1998			Feb. 1, 1997
Ratio of Earnings to Fixed Charges:
Earnings:
Consolidated net earnings before extraordinary charges	$	1,264		$	1,185		$	962		$	802		$	474
Income taxes		789			751			594			524			309
Total earnings before extraordinary charges		2,053			1,936			1,556			1,326			783
Fixed charges:
Interest expense		468			415			421			437			464
Interest portion of rental expense		77			69			63			59			59
Total fixed charges		545			484			484			496			523
Less:
Capitalized interest		(31	)		(16	)		(16	)		(16	)		(16	)
Fixed charges in earnings		514			468			468			480			507
Earnings available for fixed charges	$	2,567		$	2,404		$	2,024		$	1,806		$	1,290
Ratio of earnings before extraordinary charges to fixed charges		4.72			4.96			4.18			3.65			2.46
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends:
Total fixed charges, as above	$	544		$	484		$	484		$	496		$	523
Dividends on preferred stock (pre-tax basis)		0			29			32			35			37
Total fixed charges and preferred stock dividends		544			513			516			531			560
Earnings available for fixed charges and preferred stock dividends	$	2,567		$	2,404		$	2,024		$	1,806		$	1,290
Ratio of earnings before extraordinary charges to fixed charges and preferred stock dividends		4.72			4.69			3.92			3.40			2.30