Attached files
file | filename |
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EX-32 - EXHIBIT 32 - TIFFANY & CO | tif-exhibit32x7312016.htm |
EX-31 - EXHIBIT 31 - TIFFANY & CO | tif-exhibit31x7312016.htm |
10-Q - 10-Q - TIFFANY & CO | tif-2016731x10q.htm |
Exhibit 12.1
TIFFANY & CO.
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Six months ended July 31, | |||||||
(dollars in millions) | 2016 | 2015 | |||||
Earnings from continuing operations before income taxes | $ | 284.7 | $ | 319.9 | |||
Fixed charges, less capitalized interest | 62.7 | 61.3 | |||||
Total earnings as defined | $ | 347.4 | $ | 381.2 | |||
Fixed Charges: | |||||||
Interest expense before capitalization of interest a | $ | 22.7 | $ | 23.0 | |||
Estimated interest portion of rent expense | 41.0 | 39.4 | |||||
Total fixed charges b | $ | 63.7 | $ | 62.4 | |||
Ratio of Earnings to Fixed Charges | 5.5 | x | 6.1 | 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. |