EX-12.1 82 dex121.htm RATIO OF EARNINGS Ratio of Earnings

Exhibit 12.1

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

Hughes Supply’s ratio of earnings to fixed charges for each of the periods indicated is as follows (dollars in millions):

 

     Fiscal Years Ended

     January 31,
2005


   January 30,
2004


   January 31,
2003


    January 25,
2002


    January 26,
2001


Income before income taxes

   $ 198.3    $ 94.5    $ 98.2     $ 74.7     $ 80.7

Less:  (Income)/loss of equity investees

     —        —        (0.4 )     (0.4 )     2.8
    

  

  


 


 

     $ 198.3    $ 94.5    $ 97.8     $ 74.3     $ 83.5

Add:  Interest expense and amortization of debt issuance costs

     30.6      34.6      30.3       35.9       43.3

  Interest portion of rental expense

     23.9      19.1      17.2       17.2       17.0

  Distributed income of equity investees

     —        —        2.0       0.2       0.5
    

  

  


 


 

Total earnings

   $ 252.8    $ 148.2    $ 147.3     $ 127.6     $ 144.3
    

  

  


 


 

Fixed charges

                                    

           Interest expense and amortization of debt issuance costs

   $ 30.6    $ 34.6    $ 30.3     $ 35.9     $ 43.3

  Capitalized interest

     —        0.6      0.4       0.3       0.5

  Interest portion of rental expense

     23.9      19.1      17.2       17.2       17.0
    

  

  


 


 

Total fixed charges

   $ 54.5    $ 54.3    $ 47.9     $ 53.4     $ 60.8
    

  

  


 


 

Ratio of earnings to fixed charges

     4.6      2.7      3.1       2.4       2.4