Segment Information (Notes)

9 Months Ended

Oct. 31, 2017

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 wholesale operations; and

• Other consists of all non-reportable segments. Other includes the Emerging Markets region, which includes sales in Company-operated TIFFANY & CO. stores and wholesale operations in the Middle East. In addition, Other includes wholesale sales of diamonds 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)	2017		2016		2017		2016
Net sales:
Americas	$	421.4	$	417.1	$	1,251.7	$	1,254.5
Asia-Pacific	283.2		246.7		775.2		715.3
Japan	138.7		150.1		406.8		419.2
Europe	109.7		104.3		317.9		312.0
Total reportable segments	953.0		918.2		2,751.6		2,701.0
Other	23.2		31.1		83.8		71.2
	$	976.2	$	949.3	$	2,835.4	$	2,772.2
Earnings from operations*:
Americas	$	67.7	$	65.0	$	223.2	$	215.8
Asia-Pacific	74.9		63.0		204.8		178.7
Japan	46.0		47.8		134.5		137.4
Europe	13.7		14.8		47.9		43.5
Total reportable segments	202.3		190.6		610.4		575.4
Other	1.4		1.5		6.2		4.7
	$	203.7	$	192.1	$	616.6	$	580.1

* 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   October 31,						Nine Months Ended   October 31,
(in millions)	2017			2016			2017			2016
Earnings from operations for segments	$	203.7		$	192.1		$	616.6		$	580.1
Unallocated corporate expenses	(43.4		)	(36.9		)	(129.3		)	(115.4		)
Interest and other expenses, net	(9.9		)	(9.7		)	(28.2		)	(34.5		)
Earnings from operations before income taxes	$	150.4		$	145.5		$	459.1		$	430.2

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.