Kohl's 2009 Annual Report Download - page 66

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Exhibit 12.1
Kohl’s Corporation
Ratio of Earnings to Fixed Charges
(Dollars in Millions)
2009 2008 2007
Earnings
Income before income taxes $1,588 $1,425 $1,742
Fixed Charges 462 408 347
Less: interest capitalized during period (5) (8) (16)
$2,045 $1,825 $2,073
Fixed Charges
Interest (expensed or capitalized) $139 $140 $98
Portion of rent expense representative of interest 322 267 248
Amortization of deferred financing fees 1 1 1
$462 $408 $347
Ratio of earnings to fixed charges 4.42 4.47 5.97