EX-12.1 2 a-10312016xexx121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

Ratio of Earnings to Fixed Charges

 
For Years Ended
 
October 31,
2016
 
October 31,
2015
 
October 31,
2014
 
October 31,
2013
 
October 31,
2012
Earnings:
 
 
 
 
 
 
 
 
 
Add:
 
 
 
 
 
 
 
 
 
Income from continuing operations before taxes
$
544

 
$
480

 
$
229

 
$
293

 
$
237

Fixed Charges
92

 
87

 
128

 
125

 
117

Total
$
636

 
$
567

 
$
357

 
$
418

 
$
354

Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest expense
71

 
65

 
107

 
105

 
99

Estimate of interest within rental expense (1)
20

 
21

 
18

 
18

 
16

Amortization of capitalized expenses related to indebtedness
1

 
1

 
3

 
2

 
2

Total
92

 
87

 
128

 
125

 
117

Ratio of earnings to fixed charges
6.91

 
6.52

 
2.79

 
3.34

 
3.03

 
 
 
 
 
 
 
 
 
 

(1) We estimate one-third of our total rental expense to be related to interest.