EX-12.1 2 p74288exv12w1.htm EX-12.1 exv12w1
 

Exhibit 12.1
Avnet, Inc.
Ratio of Earnings to Fixed Charges
(in thousands)
                                         
    Fiscal Year Ended  
    June 30,     July 1,     July 2,     July 3,     June 27,  
    2007     2006     2005     2004     2003  
Earnings:
                                       
Income (loss) from continuing operations before income taxes
  $ 586,619     $ 316,147     $ 239,759     $ 98,398     $ (79,405 )
Add fixed charges
    96,747       118,932       105,231       114,972       128,923  
 
                             
Total earnings
  $ 683,366     $ 435,079     $ 344,990     $ 213,370     $ 49,518  
 
                             
 
                                       
Fixed charges:
                                       
Interest on indebtedness
  $ 77,172     $ 96,505     $ 85,056     $ 94,573     $ 104,851  
Amortization of debt expense
    3,413       5,043       5,188       4,897       7,951  
Interest component of rent expense
    16,162       17,384       14,987       15,502       16,121  
 
                             
Total fixed charges
  $ 96,747     $ 118,932     $ 105,231     $ 114,972     $ 128,923  
 
                             
 
                                       
Ratio of earnings to fixed charges
    7.1       3.7       3.3       1.9       *  
 
                             
 
*   Earnings were insufficient to cover fixed charges by $79,405,000 in fiscal 2003.