Segment Information

3 Months Ended

Apr. 30, 2015

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The Company's reportable segments are as follows:

• Americas includes sales in Company-operated TIFFANY & CO. stores in the United States, Canada and Latin America, as well as sales of TIFFANY & CO. products in certain markets through business-to-business, Internet, catalog and wholesale operations;

• Asia-Pacific includes sales in Company-operated TIFFANY & CO. stores, as well as sales of TIFFANY & CO. products in certain markets through Internet and wholesale operations;

• Japan includes sales in Company-operated TIFFANY & CO. stores, as well as sales of TIFFANY & CO. products through business-to-business, Internet and wholesale operations;

• Europe includes sales in Company-operated TIFFANY & CO. stores, as well as sales of TIFFANY & CO. products in certain markets through the Internet; and

• Other consists of all non-reportable segments. Other includes the Emerging Markets region, which consists of retail sales in Company-operated TIFFANY & CO. stores in the United Arab Emirates and, beginning in February 2014, in Russia and wholesale sales of TIFFANY & CO. merchandise to independent distributors for resale in certain emerging markets (primarily in the Middle East and, through January 2014, in Russia). In addition, Other includes wholesale sales of diamonds obtained through bulk purchases that were subsequently deemed not suitable for the Company's needs as well as earnings received from third-party licensing agreements.

Certain information relating to the Company's segments is set forth below:

	Three Months Ended April 30,
(in millions)	2015		2014
Net sales:
Americas	$	443.7	$	438.7
Asia-Pacific	259.0		260.9
Japan	121.8		173.9
Europe	102.9		101.3
Total reportable segments	927.4		974.8
Other	35.0		37.3
	$	962.4	$	1,012.1
Earnings from operations*:
Americas	$	72.3	$	81.5
Asia-Pacific	72.7		71.8
Japan	43.8		71.5
Europe	14.0		17.0
Total reportable segments	202.8		241.8
Other	3.4		2.3
	$	206.2	$	244.1

* Represents earnings from operations before (i) unallocated corporate expenses, and (ii) interest and other expenses, net.

The following table sets forth a reconciliation of the segments' earnings from operations to the Company's consolidated earnings from operations before income taxes:

	Three Months Ended April 30,
(in millions)	2015			2014
Earnings from operations for segments	$	206.2		$	244.1
Unallocated corporate expenses	(36.2		)	(34.3		)
Interest and other expenses, net	(9.3		)	(16.3		)
Earnings from operations before income taxes	$	160.7		$	193.5

Unallocated corporate expenses includes certain costs related to administrative support functions which the Company does not allocate to its segments. Such unallocated costs include those for centralized information technology, finance, legal and human resources departments.