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EXHIBIT 12.1
STATEMENT REGARDING COMPUTATION OF CONSOLIDATED RATIOS
OF EARNINGS TO FIXED CHARGES
The following table sets forth our historical ratios of earnings to
fixed charges and our consolidated subsidiaries for the periods indicated:
<TABLE>
<CAPTION>
NINE MONTHS ENDED
SEPTEMBER 30, 2000 YEAR ENDED DECEMBER 31,
-------------------- ---------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1999 1998 1997 1996 1995
---- ---- ---- ---- ----
Ratio of Earnings
to Fixed Charges.......... 4.6 2.9(a) 4.0 5.0(b) 8.6 7.7
</TABLE>
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(a) Excluding the special pre-tax charge of $25 million associated with the
acquisition and integration of Richey Electronics, Inc. and the
electronics distribution group of Bell Industries, Inc., the ratio of
earnings to fixed charges would have been 3.1.
(b) Excluding special pre-tax charges totaling $59 million associated with
the realignment of our North American components operations and the
acquisition and integration of the volume electronic component
distribution businesses of Premier Farnell plc, the ratio of earnings
to fixed charges would have been 5.7.
