EXHIBIT 12.1
CDW CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(unaudited)
(unaudited)
Years ended December 31, | ||||||||||||||||
| (dollars in millions) | 2008 | 2009 | 2010 | 2011 | 2012 | |||||||||||
| Computation of earnings: | ||||||||||||||||
| Income (loss) before income taxes and adjustment for (income) loss from equity investees | $ | (1,777.2 | ) | $ | (461.2 | ) | $ | (37.1 | ) | $ | 28.3 | $ | 185.8 | |||
| Distributed income from equity investees | — | — | 0.2 | 0.5 | 1.2 | |||||||||||
| Fixed charges | 397.3 | 413.1 | 420.7 | 324.9 | 312.4 | |||||||||||
| Total earnings | $ | (1,379.9 | ) | $ | (48.1 | ) | $ | 383.8 | $ | 353.7 | $ | 499.4 | ||||
| Computation of fixed charges: | ||||||||||||||||
| Interest expense | $ | 351.8 | $ | 389.3 | $ | 394.7 | $ | 302.0 | $ | 294.4 | ||||||
| Amortization of deferred financing costs and debt premium | 38.6 | 16.2 | 18.0 | 15.7 | 13.6 | |||||||||||
Portion of rent expense representative of interest (1) | 6.9 | 7.6 | 8.0 | 7.2 | 4.4 | |||||||||||
| Total fixed charges | $ | 397.3 | $ | 413.1 | $ | 420.7 | $ | 324.9 | $ | 312.4 | ||||||
| Ratio of earnings to fixed charges | (2) | (2) | (2) | 1.1 | 1.6 | |||||||||||
(1) | Fixed charges include a reasonable estimation of the interest factor included in rental expense. |
(2) | For the years ended December 31, 2008, 2009 and 2010, earnings available for fixed charges were inadequate to cover fixed charges by $1,777.2 million, $461.2 million and $37.0 million, respectively. |