Exhibit 12.1
Fiscal Year Ended | ||||||||||||||||||||
(In millions except for ratio of earnings to fixed charges) | January 31, 2017 | January 31, 2016 | January 31, 2015 | January 31, 2014 | January 31, 2013 | |||||||||||||||
Earnings: | ||||||||||||||||||||
Income before income taxes | $ | (523.8 | )** | $ | (20.3 | )** | $ | 83.0 | $ | 279.9 | $ | 310.0 | ||||||||
Fixed charges | 61.5 | 51.0 | 30.5 | 30.1 | 14.4 | |||||||||||||||
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Total earnings | $ | (462.3 | ) | $ | 30.7 | $ | 113.5 | $ | 310.0 | $ | 324.4 | |||||||||
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Fixed charges(*) | $ | 61.5 | $ | 51.0 | $ | 30.5 | $ | 30.1 | $ | 14.4 | ||||||||||
Ratio of earnings to fixed charges | — | — | 3.7x | 10.3x | 22.5x |
(*) | Fixed charges consist of interest expense and an estimate of interest as a component of rental expense. |
(**) | Due to the losses in the fiscal years ended January 31, 2017 and January 31, 2016, our ratio of earnings to fixed charges for each period was less than 1:1. We would have needed to generate additional earnings in each such period of $523.8 million and $20.3 million, respectively, to achieve an earnings to fixed charges ratio of 1:1. |