EX-12.1 5 a-10312017xexx121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

Ratio of Earnings to Fixed Charges

 
For Years Ended
 
October 31,
2017
 
October 31,
2016
 
October 31,
2015
 
October 31,
2014
 
October 31,
2013
Earnings:
 
 
 
 
 
 
 
 
 
Add:
 
 
 
 
 
 
 
 
 
Income from continuing operations before taxes
$
803

 
$
544

 
$
480

 
$
229

 
$
293

Fixed Charges
98

 
92

 
87

 
128

 
125

Total
$
901

 
$
636

 
$
567

 
$
357

 
$
418

Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest expense
78

 
71

 
65

 
107

 
105

Estimate of interest within rental expense (1)
19

 
20

 
21

 
18

 
18

Amortization of capitalized expenses related to indebtedness
1

 
1

 
1

 
3

 
2

Total
98

 
92

 
87

 
128

 
125

Ratio of earnings to fixed charges
9.19

 
6.91

 
6.52

 
2.79

 
3.34

 
 
 
 
 
 
 
 
 
 

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