EX-12.1 7 d198060dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of ratio of earnings to fixed charges

EXHIBIT 12.1

CDW CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(unaudited)

 

     Predecessor           Successor  
     Year ended
December 31,		      Period from
January 1,
2007 to
October 11,
2007		           Period from
October 12,
2007 to
December 31,
2007		                                
                  Year ended
December 31,		     Six months ended
June 30,		  
(dollars in millions)    2006                2008     2009     2010     2010     2011  

Computation of earnings:

                       

Income (loss) before income taxes and adjustment for (income) loss from equity investees

    $ 414.4       $ 286.4           $ (58.8 )    $ (1,777.2 )    $ (461.2 )    $ (37.1 )    $ (7.2 )    $ (56.2 ) 

Distributed income from equity investees

      —           —               —          —          —          0.2        —          —     

Fixed charges

      5.0         4.6             105.8        397.3        413.1        420.7        209.5        158.6   
  

 

 

     

 

 

         

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total earnings

    $ 419.4       $ 291.0           $ 47.0      $ (1,379.9 )    $ (48.1 )    $ 383.8      $ 202.3      $ 102.4   
  

 

 

     

 

 

         

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Computation of fixed charges:

                       

Interest on debt obligations

    $ —         $ —             $ 91.1      $ 351.8      $ 389.3      $ 394.7      $ 196.5      $ 147.4   

Amortization of debt issuance costs

      —           —               13.4        38.6        16.2        18.0        9.0        7.7   

Portion of rent expense representative of interest (1)

      5.0         4.6             1.3        6.9        7.6        8.0        4.0        3.5   
  

 

 

     

 

 

         

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

    $ 5.0       $ 4.6           $ 105.8      $ 397.3      $ 413.1      $ 420.7      $ 209.5      $ 158.6   
  

 

 

     

 

 

         

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

      84x         63x             (2 )      (2 )      (2 )      (2 )      (2 )      (2 )  
  

 

 

     

 

 

                   

 

(1) 

Imputed interest on operating leases is estimated to be approximately one-third of rent expense.

(2) 

For the period from October 12, 2007 to December 31, 2007, the years ended December 31, 2008, 2009 and 2010, and the six months ended June 30, 2010 and 2011, earnings available for fixed charges were inadequate to cover fixed charges by $58.8 million, $1,777.2 million, $461.2 million, $37.0 million, $7.2 million and $56.2 million, respectively.