Segment Information (Notes)

9 Months Ended

Oct. 31, 2016

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 Internet, catalog, business-to-business 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 Internet, business-to-business 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 wholesale sales of TIFFANY & CO. merchandise to independent distributors for resale in certain emerging markets (primarily in the Middle East). 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 October 31,					Nine Months Ended October 31,
(in millions)	2016		2015			2016		2015
Net sales:
Americas	$	417.1	$	425.1		$	1,254.5	$	1,343.4
Asia-Pacific	246.7		238.4			715.3		742.7
Japan	150.1		132.7			419.2		380.0
Europe	104.3		115.7			312.0		348.5
Total reportable segments	918.2		911.9			2,701.0		2,814.6
Other	31.1		26.3			71.2		76.6
	$	949.3	$	938.2		$	2,772.2	$	2,891.2
Earnings from operations*:
Americas	$	65.0	$	61.9		$	215.8	$	229.0
Asia-Pacific	63.0		63.9			178.7		193.4
Japan	47.8		50.8			137.4		140.7
Europe	14.8		17.6			43.5		57.1
Total reportable segments	190.6		194.2			575.4		620.2
Other	1.5		(0.4		)	4.7		2.3
	$	192.1	$	193.8		$	580.1	$	622.5

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

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   October 31,						Nine Months Ended   October 31,
(in millions)	2016			2015			2016			2015
Earnings from operations for segments	$	192.1		$	193.8		$	580.1		$	622.5
Unallocated corporate expenses	(36.9		)	(37.4		)	(115.4		)	(113.7		)
Interest and other expenses, net	(9.7		)	(15.2		)	(34.5		)	(38.1		)
Other operating expense	—			—			—			(9.6		)
Earnings from operations before income taxes	$	145.5		$	141.2		$	430.2		$	461.1

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.

Other operating expense in the nine months ended October 31, 2015 represents a loan impairment charge related to a financing arrangement with Koidu. See "Note 3. Receivables and Financing Arrangements" and "Note 10. Commitments and Contingencies" for additional information.