EX-12.1 4 exhibit121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
ARROW ELECTRONICS, INC.
RATIO OF EARNINGS TO FIXED CHARGES
(In thousands)
 
 
Quarter Ended
 
Year Ended December 31,
  
 
April 1,
2017
 
April 2,
2016
 
2016
 
2015
 
2014
 
2013
 
2012
Reconciliation of Earnings
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
 
$
154,574

 
$
147,645

 
$
715,397

 
$
692,183

 
$
683,333

 
$
582,219

 
$
710,359

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Less:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity in earnings of affilitated companies
 
925

 
1,856

 
7,573

 
7,037

 
7,318

 
7,429

 
8,112

Capitalized Interest
 
1,798

 
2,023

 
8,042

 
6,493

 
7,967

 
7,890

 
10,713

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Plus:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
54,472

 
48,553

 
203,611

 
173,997

 
155,302

 
154,610

 
144,736

Amortization of capitalized interest
 
1,069

 
1,084

 
4,461

 
2,169

 
5,504

 
3,947

 
1,966

Distributed income of equity investees
 
1,735

 
1,336

 
4,837

 
1,643

 
2,700

 
2,620

 
2,269

Total earnings
 
$
209,127

 
$
194,739

 
$
912,691

 
$
856,462

 
$
831,554

 
$
728,077

 
$
840,505

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Calculation of fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest and other financing expense
 
$
45,999

 
$
40,242

 
$
169,395

 
$
141,702

 
$
121,537

 
$
120,065

 
$
107,655

Capitalized interest
 
1,798

 
2,023

 
8,042

 
6,493

 
7,967

 
7,890

 
10,713

Interest component of rent expense
 
6,675

 
6,288

 
26,174

 
25,802

 
25,797

 
26,655

 
26,368

Total fixed charges
 
$
54,472

 
$
48,553

 
$
203,611

 
$
173,997

 
$
155,301

 
$
154,610

 
$
144,736

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
3.84

 
4.01

 
4.48

 
4.92

 
5.35

 
4.71

 
5.81