Use the following information to answer this question.

Thomas Company 2017 Income Statement ($ in millions)
Net sales	$	9,530
Cost of goods sold		7,760
Depreciation		465
Earnings before interest and taxes	$	1,305
Interest paid		104
Taxable income	$	1,201
Taxes		420
Net income	$	781

Thomas Company 2016 and 2017 Balance Sheets ($ in millions)
		2016			2017				2016			2017
Cash	$	230		$	260		Accounts payable	$	1,370		$	1,385
Accounts rec.		1,000			900		Long-term debt		1,100			1,300
Inventory		1,810			1,695		Common stock		3,340			3,250
Total	$	3,040		$	2,855		Retained earnings		640			890
Net fixed assets		3,410			3,970
Total assets	$	6,450		$	6,825		Total liab. & equity	$	6,450		$	6,825

What is the times interest earned ratio for 2017?