EX-12 8 ex12.txt COMPUTAITON OF RATIO OF EARNINGS TO FIXED CHARGES 1 EXHIBIT 12 KENT ELECTRONICS CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS, EXCEPT RATIO)
Fiscal years ended April 1, April 3, March 28, March 29, March 30, 2000 1999 1998 1997(1) 1996 -------- -------- --------- --------- --------- Earnings before income taxes $30,043 $ 294 $58,167 $45,100 $49,095 Add fixed charges 12,492 12,009 6,647 2,363 1,857 ------- ------- ------- ------- ------- Earnings as adjusted $42,535 $12,303 $64,814 $47,463 $50,952 ======= ======= ======= ======= ======= Fixed charges: Interest expense $10,470 $10,495 $ 5,272 $ 1,192 $ 898 Interest portion of rental expense(2) 2,022 1,514 1,375 1,171 959 ------- ------- ------- ------- ------- Total fixed charges $12,492 $12,009 $ 6,647 $ 2,363 $ 1,857 ======= ======= ======= ======= ======= Ratio of earnings to fixed charges 3.4x 1.0x 9.8x 20.1x 27.4x ======= ======= ======= ======= =======
(1) Includes non-recurring merger and integration charges of $5.5 million, pre-tax, in fiscal year 1997. Exclusive of such charges, the ratio of earnings to fixed charges for fiscal year 1997 was 22.4. (2) The interest factor of rental expense is estimated at one-third of total rental expense, which the Company believes to be a reasonable approximation.