EX-12 11 exhibit12.htm RATIO OF EARNINGS TO FIXED CHARGES
Exhibit 12
Ratio of Earnings to Fixed Charges

| 53 Weeks Ended |  | 52 Weeks Ended |  | 52 Weeks Ended |  | 52 Weeks Ended |  | 52 Weeks Ended
($ in millions except ratios) | February 2, 2013 |  |  | January 28, 2012 |  | January 29, 2011 |  | January 30, 2010 |  | January 31, 2009
Earnings before income taxes and interest expense | $ | 1,948 |  |  | $ | 1,443 |  |  | $ | 1,974 |  |  | $ | 1,822 |  |  | $ | 1,585 |
Less: capitalized interest, net | (6) |  | (4) |  | — |  |  | — |  |  | (8)
Total fixed charges | 675 |  |  | 644 |  |  | 534 |  |  | 537 |  |  | 536 |
Earnings for calculation | $ | 2,617 |  |  | $ | 2,083 |  |  | $ | 2,508 |  |  | $ | 2,359 |  |  | $ | 2,113 |
Fixed charges: |  |  |  |  |  |  |  |  |
Gross interest incurred | $ | 87 |  |  | $ | 74 |  |  | $ | (8 | ) |  | $ | 6 |  |  | $ | 1 |
Interest portion of rent expense (1) | 588 |  |  | 570 |  |  | 542 |  |  | 531 |  |  | 535 |
Total fixed charges | $ | 675 |  |  | $ | 644 |  |  | $ | 534 |  |  | $ | 537 |  |  | $ | 536 |
Ratio of earnings to fixed charges | 3.9 |  |  | 3.2 |  |  | 4.7 |  |  | 4.4 |  |  | 3.9 |

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(1) The interest portion of rent expense is calculated as 48 percent of rent expense.