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Exhibit 12

TARGET CORPORATION
Computations of Ratios of Earnings to Fixed Charges for each of the
Five Years in the Period Ended January 28, 2012

	Fiscal Year Ended
Ratio of Earnings to Fixed Charges
(millions)	January 28, 2012		January 29, 2011		January 30, 2010			January 31, 2009			February 2, 2008
Earnings from continuing operations before income taxes	$	4,456	$	4,495	$	3,872		$	3,536		$	4,625
Capitalized interest, net		5		2		(9	)		(48	)		(66	)
Adjusted earnings from continuing operations before income taxes		4,461		4,497		3,863			3,488			4,559
Fixed charges:
Interest expense (a)		797		776		830			956			747
Interest portion of rental expense		111		110		105			103			94
Total fixed charges		908		886		935			1,059			841
Earnings from continuing operations before income taxes and fixed charges	$	5,369	$	5,383	$	4,798		$	4,547		$	5,400
Ratio of earnings to fixed charges		5.91		6.08		5.13			4.29			6.42

(a)

Includes interest on debt and capital leases (including capitalized interest) and amortization of debt issuance costs. Excludes interest income and interest associated with unrecognized tax benefit liabilities, which is recorded within income tax expense.

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Exhibit 12

TARGET CORPORATION Computations of Ratios of Earnings to Fixed Charges for each of the Five Years in the Period Ended January 28, 2012