Intcomex, Inc. - FORM 10-K - EX-12.1 - CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES - February 22, 2010

Attached files

file filename
10-K - FORM 10-K - Intcomex, Inc.d10k.htm
EX-3.2 - AMENDMENT NO. 1 TO THE SECOND AMENDED AND RESTATED CERTIFICATE OF INCORPORATION - Intcomex, Inc.dex32.htm
EX-4.10 - PLEDGE AGREEMENT - Intcomex, Inc.dex410.htm
EX-10.1 - REVOLVING CREDIT AGREEMENT - Intcomex, Inc.dex101.htm
EX-4.14 - LIEN SUBORDINATION AGREEMENT - Intcomex, Inc.dex414.htm
EX-32.2 - CERTIFICATION BY PRINCIPAL FINANCIAL OFFICER PURSUANT TO SECTION 906 - Intcomex, Inc.dex322.htm
EX-21.1 - SUBSIDIARIES OF INTCOMEX, INC. - Intcomex, Inc.dex211.htm
EX-4.12 - SUBSIDIARY GUARANTY - Intcomex, Inc.dex412.htm
EX-32.1 - CERTIFICATION BY PRINCIPAL EXECUTIVE OFFICER PURSUANT TO SECTION 906 - Intcomex, Inc.dex321.htm
EX-4.13 - SECURITY AGREEMENT - Intcomex, Inc.dex413.htm
EX-4.15 - STOCK PLEDGE AGREEMENT - Intcomex, Inc.dex415.htm
EX-4.16 - SHARE CHARGE - Intcomex, Inc.dex416.htm
EX-31.2 - CERTIFICATION BY PRINCIPAL FINANCIAL OFFICER REQUIRED BY SECTION 302 - Intcomex, Inc.dex312.htm
EX-4.11 - LIMITED GUARANTY - Intcomex, Inc.dex411.htm
EX-4.18 - TRADEMARK SECURITY AGREEMENT - Intcomex, Inc.dex418.htm
EX-31.1 - CERTIFICATION BY PRINCIPAL EXECUTIVE OFFICER REQUIRED BY SECTION 302 - Intcomex, Inc.dex311.htm
EX-10.10 - FOURTH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT - Intcomex, Inc.dex1010.htm
EX-4.17 - TREASURY MANAGEMENT SERVICES CONTROLLED COLLATERAL ACCOUNT SERVICE AGREEMENT - Intcomex, Inc.dex417.htm

EXHIBIT 12.1

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

The following table sets forth calculation of Intcomex, Inc.’s ratio of earnings to fixed charges for the periods presented:

 

(Dollars in thousands, except ratio data)

    2009    2008     2007    2006    2005

Earnings

              

+    Pretax income (loss)

    $ 10,037    $ (33,723 )    $ 13,428    $ 17,957    $ 14,818

+    Interest expense

      14,899      15,786        16,042      14,928      13,776

+    Amortization of loan costs

      2,595      1,645        1,721      1,305      3,029

+    Distributed income of equity investees

      —        —          —        —        —  

+    % share of equity investees guarantees

      —        —          —        —        —  

-    Interest capitalized

      —        —          —        —        —  

-    Preferred security dividends

      —        —          —        —        —  

-    Minority interest income

      —        —          —        —        —  
                                   

Total earnings (loss)

    $ 27,532    $ (16,292 )    $ 31,191    $ 34,190    $ 31,623
                                   

Fixed Charges

              

+    Interest expense

    $ 14,899    $ 15,786      $ 16,042    $ 14,928    $ 13,776

+    Amortization of deferred financing costs

      2,197      1,406        1,481      1,095      2,956

+    Accretion of debt discount

      399      239        240      210      73

+    Estimate of interest in rental expense

      325      415        480      356      247
                                   

Total fixed charges

    $ 17,820    $ 17,846      $ 18,243    $ 16,589    $ 17,052
                                   

Ratio of earnings (loss) to fixed changes

    $ 1.5x    $ (16,292 )(1)      1.7x      2.1x      1.9x

 

(1) A ratio of less than one-to-one coverage requires the disclosure of the dollar amount of the deficiency.

Intcomex, Inc. Reports