Six Months Ended July 31, | Years ended January 31, | |||||||||||||||||||||
(dollars in millions) | 2017 | 2016 | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||
Earnings from continuing operations before income taxes | $ | 308.7 | $ | 284.7 | $ | 676.6 | $ | 709.9 | $ | 737.5 | $ | 254.9 | $ | 643.6 | ||||||||
Fixed charges, less capitalized interest | 61.7 | 62.7 | 126.7 | 125.1 | 134.8 | 133.3 | 120.1 | |||||||||||||||
Total earnings as defined | $ | 370.4 | $ | 347.4 | $ | 803.3 | $ | 835.0 | $ | 872.3 | $ | 388.2 | $ | 763.7 | ||||||||
Fixed Charges: | ||||||||||||||||||||||
Interest expense before capitalization of interest a | $ | 19.4 | $ | 22.7 | $ | 43.9 | $ | 45.7 | $ | 58.9 | $ | 59.6 | $ | 55.1 | ||||||||
Estimated interest portion of rent expense | 42.6 | 41.0 | 84.7 | 80.6 | 76.9 | 74.5 | 65.5 | |||||||||||||||
Total fixed charges b | $ | 62.0 | $ | 63.7 | $ | 128.6 | $ | 126.3 | $ | 135.8 | $ | 134.1 | $ | 120.6 | ||||||||
Ratio of Earnings to Fixed Charges | 6.0 | x | 5.5 | x | 6.2 | x | 6.6 | x | 6.4 | x | 2.9 | x | 6.3 | x | ||||||||
a | Interest expense does not include interest related to uncertain tax positions and other non-third party indebtedness. |
b | Fixed charges represent interest expense (before interest is capitalized), amortization of deferred financing costs and an appropriate interest factor on operating leases. |