Need help calculating the Interest Coverage Ratio given the balance sheet information below (Numbers are in millions) and also need an explanation of what the answer means.

sales	949.00
CGS	466.6
Gross profit	482.40
SG&A	332.30
Depreciation	21.30
Other income (expenses)	1.40
EBIT	130.20
Interest Expense (net of interest income)	0.80
Taxable income	129.40
Taxes	49.20
Net Income	80.20
Dividends	24.06