EX-12.1 3 dex121.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement re: Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

 

Kohl’s Corporation

Ratio of Earnings to Fixed Charges

($000s)

 

     39 Weeks Ended
     Fiscal Year (1)
  
    

November 1,

2003

    

November 2,

2002

     2002
     2001
     2000
     1999
     1998
  

Earnings

                                                         

Income before income taxes

    $ 553,554     $ 585,903     $ 1,034,374     $ 799,864     $ 605,114     $ 421,112     $ 316,749  

Fixed charges

      146,378       115,941       161,091       142,244       116,753       82,835       63,135  

Less interest capitalized during period

      (7,119 )     (7,373 )     (9,820 )     (6,929 )     (3,478 )     (4,405 )     (1,878 )
    
 
 
 
 
 
 
     $ 692,813     $ 694,471     $ 1,185,645     $ 935,179     $ 718,389     $ 499,542     $ 378,006  
    
 
 
 
 
 
 

Fixed Charges

                                                         

Interest (expensed or capitalized)

    $ 59,052     $ 48,144     $ 68,298     $ 63,506     $ 52,305     $ 33,813     $ 24,550  

Portion of rent expense representative of interest

      80,493       67,113       91,822       77,964       63,943       48,769       38,385  

Amortization of deferred financing fees

      6,833       684       971       774       505       253       200  
    
 
 
 
 
 
 
     $ 146,378     $ 115,941     $ 161,091     $ 142,244     $ 116,753     $ 82,835     $ 63,135  
    
 
 
 
 
 
 

Ratio of earnings to fixed charges

      4.73       5.99       7.36       6.57       6.15       6.03       5.99  
    
 
 
 
 
 
 

 

(1) Fiscal 2002, 2001, 1999 and 1998 were 52 week years and fiscal 2000 was a 53 week year.