Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - TIFFANY & CO | tif-20151031x10q.htm |
| EX-32.1 - EXHIBIT 32.1 - TIFFANY & CO | tif-exhibit321x10312015.htm |
| EX-31.2 - EXHIBIT 31.2 - TIFFANY & CO | tif-exhibit312x10312015.htm |
| EX-32.2 - EXHIBIT 32.2 - TIFFANY & CO | tif-exhibit322x10312015.htm |
| EX-31.1 - EXHIBIT 31.1 - TIFFANY & CO | tif-exhibit311x10312015.htm |
Exhibit 12.1
TIFFANY & CO.
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Nine months ended October 31, | Years ended January 31, | |||||||||||||||||||||
(dollars in millions) | 2015 | 2014 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Earnings from continuing operations before income taxes | $ | 461.1 | $ | 445.2 | $ | 737.5 | $ | 254.9 | $ | 643.6 | $ | 665.0 | $ | 547.4 | ||||||||
Fixed charges, less capitalized interest | 92.8 | 102.0 | 134.8 | 133.3 | 120.1 | 114.2 | 100.6 | |||||||||||||||
Total earnings as defined | $ | 553.9 | $ | 547.2 | $ | 872.3 | $ | 388.2 | $ | 763.7 | $ | 779.2 | $ | 648.0 | ||||||||
Fixed Charges: | ||||||||||||||||||||||
Interest expense before capitalization of interest a | $ | 34.3 | $ | 46.5 | $ | 58.9 | $ | 59.6 | $ | 55.1 | $ | 43.3 | $ | 48.3 | ||||||||
Estimated interest portion of rent expense | 59.4 | 56.4 | 76.9 | 74.5 | 65.5 | 71.6 | 52.3 | |||||||||||||||
Total fixed charges b | $ | 93.7 | $ | 102.9 | $ | 135.8 | $ | 134.1 | $ | 120.6 | $ | 114.9 | $ | 100.6 | ||||||||
Ratio of Earnings to Fixed Charges | 5.9 | x | 5.3 | x | 6.4 | x | 2.9 | x | 6.3 | x | 6.8 | x | 6.4 | x | ||||||||
a | Interest expense does not include interest related to uncertain tax positions and other non-third party indebtedness. |
b | Fixed charges represent interest expense (before interest is capitalized), amortization of deferred financing costs and an appropriate interest factor on operating leases. |