EXHIBIT 12

TARGET CORPORATION
Computations of Ratios of Earnings to Fixed Charges and
Ratios of Earnings to Fixed Charges and Preferred Stock Dividends for the
Three Months Ended May 5, 2001 and April 29, 2000
and for the Five Years Ended February 3, 2001

(Millions of Dollars)

			Three Months Ended						Fiscal Year Ended
			May 5 2001		,	April 29 2000		,	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		$	254		$	239		$	1,264		$	1,185		$	962		$	802		$	474
	Income taxes			156			150			789			751			594			524			309
		Total earnings before extraordinary charges		410			389			2,053			1,936			1,556			1,326			783
Fixed charges:
	Interest expense			120			103			468			415			421			437			464
	Interest portion of rental expense			17			17			77			69			63			59			59
		Total fixed charges		137			120			545			484			484			496			523
Less:
	Capitalized interest			(12	)		(5	)		(31	)		(16	)		(16	)		(16	)		(16	)
		Fixed charges in earnings		125			115			514			468			468			480			507
Earnings available for fixed charges			$	535		$	504		$	2,567		$	2,404		$	2,024		$	1,806		$	1,290
Ratio of earnings before extraordinary charges to fixed charges				3.91			4.19			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			$	137		$	120		$	544		$	484		$	484		$	496		$	523
Dividends on preferred stock (pre-tax basis)				—			—			—			29			32			35			37
	Total fixed charges and preferred stock dividends			137			120			544			513			516			531			560
Earnings available for fixed charges and preferred stock dividends			$	535		$	504		$	2,567		$	2,404		$	2,024		$	1,806		$	1,290
Ratio of earnings before extraordinary charges to fixed charges and preferred stock dividends				3.91			4.19			4.72			4.69			3.92			3.40			2.30