EX-12 3 dex12.txt STATEMENT RE: CALCULATION OF RATIO Exhibit 12.1 Kohl's Corporation Ratio of Earnings to Fixed Charges ($000s)
13 Weeks Ended -------------------- Fiscal Year (1) May 4, May 5, ------------------------------------------------------------ 2002 2001 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- ---- ---- Earnings -------- Income before income taxes $171,417 $121,934 $799,864 $605,114 $421,112 $316,749 $235,063 Fixed charges (2) 37,595 32,927 142,244 116,753 82,835 63,135 57,446 Less interest capitalized during period (2,746) (1,334) (6,929) (3,478) (4,405) (1,878) (2,043) -------- -------- -------- -------- -------- -------- -------- $206,266 $153,527 $935,179 $718,389 $499,542 $378,006 $290,466 ======== ======== ======== ======== ======== ======== ======== Fixed Charges ------------- Interest (expensed or capitalized) (2) $ 16,079 $ 14,685 $ 63,506 $ 52,305 $ 33,813 $ 24,550 $ 26,304 Portion of rent expense representative of interest 21,318 18,057 77,964 63,943 48,769 38,385 30,798 Amortization of deferred financing fees 198 185 774 505 253 200 344 -------- -------- -------- -------- -------- -------- -------- $ 37,595 $ 32,927 $142,244 $116,753 $ 82,835 $ 63,135 $ 57,446 ======== ======== ======== ======== ======== ======== ======== Ratio of earnings to fixed charges 5.49 4.66 6.57 6.15 6.03 5.99 5.06 ======== ======== ======== ======== ======== ======== ========
(1) Fiscal 2001, 1999, 1998 and 1997 were 52 week years and fiscal 2000 was a 53 week year. (2) Interest expense for fiscal 1997 has been restated to properly reflect interest expense included on the Consolidated Statements of Income.