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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
Nine Months Ended November 3, 2001 and October 28, 2000
and for the Five Years Ended February 3, 2001

    (Millions of Dollars)

			Nine Months Ended						Fiscal Year Ended
				Nov. 3	,		Oct. 28	,		Feb. 3	,		Jan. 29	,		Jan. 30	,		Jan. 31	,		Feb. 1	,
			2001			2000			2001			2000			1999			1998			1997
Ratio of Earnings to Fixed Charges:
Earnings:
	Consolidated net earnings before extraordinary charges		$	711		$	712		$	1,264		$	1,185		$	962		$	802		$	474
	Income taxes			436			446			789			751			594			524			309
		Total earnings before extraordinary charges		1,147			1,158			2,053			1,936			1,556			1,326			783
Fixed charges:
	Interest expense			377			336			467			415			421			437			464
	Interest portion of rental expense			48			51			77			69			63			59			59
		Total fixed charges		425			387			544			484			484			496			523
Less:
	Capitalized interest			(30	)		(22	)		(31	)		(16	)		(16	)		(16	)		(16	)
		Fixed charges in earnings		395			365			513			468			468			480			507
Earnings available for fixed charges			$	1,542		$	1,523		$	2,566		$	2,404		$	2,024		$	1,806		$	1,290
Ratio of earnings before extraordinary charges to fixed charges				3.63			3.93			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			$	425		$	387		$	544		$	484		$	484		$	496		$	523
Dividends on preferred stock (pre-tax basis)				-			-			-			29			32			35			37
	Total fixed charges and preferred stock dividends			425			387			544			513			516			531			560
Earnings available for fixed charges and preferred stock dividends			$	1,542		$	1,523		$	2,566		$	2,404		$	2,024		$	1,806		$	1,290
Ratio of earnings before extraordinary charges to fixed charges and preferred stock dividends				3.63			3.93			4.72			4.69			3.92			3.40			2.30

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EXHIBIT (12)