EX-12.1 9 dex121.htm CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES Calculation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

 

Kohl’s Corporation

 

Ratio of Earnings to Fixed Charges

($000s)

 

     Fiscal Year (1)
  
     2003
     2002
     2001
     2000
     1999
  

Earnings

                                         

Income before income taxes

    $ 950,373     $ 1,034,374     $ 799,864     $ 605,114     $ 421,112  

Fixed charges

      207,851       160,908       142,244       116,753       82,835  

Less interest capitalized during period

      (9,861 )     (9,820 )     (6,929 )     (3,478 )     (4,405 )
    
 
 
 
 
     $ 1,148,363     $ 1,185,645     $ 935,179     $ 718,389     $ 499,542  
    
 
 
 
 

Fixed Charges

                                         

Interest (expensed or capitalized)

    $ 78,065     $ 68,298     $ 63,506     $ 52,305     $ 33,813  

Portion of rent expense representative of interest

      122,750       91,639       77,964       63,943       48,769  

Amortization of deferred financing fees

      7,036       971       774       505       253  
    
 
 
 
 
     $ 207,851     $ 160,908     $ 142,244     $ 116,753     $ 82,835  
    
 
 
 
 

Ratio of earnings to fixed charges

      5.52       7.37       6.57       6.15       6.03  
    
 
 
 
 

 

(1) Fiscal 2003, 2002, 2001 and 1999 were 52 week years and fiscal 2000 was a 53 week year.