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:
| For the Three Months Ended March 31, | For the Years Ended December 31, | |||||||||||||||||||||
(Dollars in thousands, except ratio data) | 2010 | 2009 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||
Earnings | ||||||||||||||||||||||
+ Pretax income (loss) | $ | 433 | $ | 883 | $ | 10,037 | $ | (33,723 | ) | $ | 13,428 | $ | 17,957 | $ | 14,818 | |||||||
+ Interest expense | 4,282 | 3,352 | 14,899 | 15,786 | 16,042 | 14,928 | 13,776 | |||||||||||||||
+ Amortization of loan costs | 607 | 482 | 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) | $ | 5,322 | $ | 4,717 | $ | 27,532 | $ | (16,292 | ) | $ | 31,191 | $ | 34,190 | $ | 31,623 | |||||||
Fixed Charges | ||||||||||||||||||||||
+ Interest expense | $ | 4,282 | $ | 3,352 | $ | 14,899 | $ | 15,786 | $ | 16,042 | $ | 14,928 | $ | 13,776 | ||||||||
+ Amortization of deferred financing costs | 273 | 418 | 2,197 | 1,406 | 1,481 | 1,095 | 2,956 | |||||||||||||||
+ Accretion of debt discount | 334 | 64 | 399 | 239 | 240 | 210 | 73 | |||||||||||||||
+ Estimate of interest in rental expense | 81 | 81 | 325 | 415 | 480 | 356 | 247 | |||||||||||||||
Total fixed charges | $ | 4,970 | $ | 3,915 | $ | 17,820 | $ | 17,846 | $ | 18,243 | $ | 16,589 | $ | 17,052 | ||||||||
Ratio of earnings (loss) to fixed changes | 1.1x | 1.2x | 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. |
