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