QuickLinks -- Click here to rapidly navigate through this document

Exhibit 12.1

Ratio of Earnings to Fixed Charges

			For the Year Ended
			October 31, 2007		October 31, 2006		October 31, 2005		October 31, 2004		October 31, 2003
Earnings:
	Add:
	Income from continuing operations before taxes and equity income		$	670	$	627	$	291	$	87	$	(746	)
	Fixed Charges			115		106		58		72		75
		Total	$	785	$	733	$	349	$	159	$	(671	)
Fixed Charges:
	Interest expense			86		65		27		36		36
	Estimate of interest within rental expense			24		37		22		30		33
	Amortization of capitalized expenses related to indebtedness			5		4		9		6		6
		Total		115		106		58		72		75
Ratio of earnings to fixed charges				6.81		6.92		6.02		2.21		(a	)

(a)

In order to cover fixed charges in the years ended October 31, 2003, our earnings from continued operations before taxes and equity income would have had to increase by $746 million.

QuickLinks

Exhibit 12.1

Ratio of Earnings to Fixed Charges