UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): September 18, 2014

 

 

ANIXTER INTERNATIONAL INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-10212   94-1658138

(State or other jurisdiction

of incorporation or organization)

  

Commission

File Number:

  

(I.R.S. Employer

Identification No.)

2301 Patriot Blvd.

Glenview, Illinois 60026

(224) 521-8000

(Address and telephone number of principal executive offices)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 8.01 Other Events.

Anixter International Inc. (the “Company”) is filing this Current Report on Form 8-K to file the computation of its ratio of earnings to fixed charges for the six months ended July 4, 2014 and each of the five fiscal years from 2009 through 2013 as an exhibit that is incorporated by reference into its Registration Statement on Form S-3 (File Nos. 333-180905 and 333-180905-01) (the “Registration Statement”).

The Company is also filing in this Current Report on Form 8-K the consent of Ernst & Young LLP to the incorporation by reference of their reports with respect to the Company’s consolidated financial statements into the Registration Statement.

 

Item 9.01 Financial Statements and Exhibits.

 

Exhibit No.    Description
12.1    Computation of ratio of earnings to fixed charges.
23.1    Consent of Independent Registered Public Accounting Firm.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    ANIXTER INTERNATIONAL INC.
September 18, 2014     By:  

/s/ Theodore A. Dosch

      Theodore A. Dosch
     

Executive Vice President - Finance

and Chief Financial Officer

EXHIBIT INDEX

 

Exhibit No.    Description
12.1    Computation of ratio of earnings to fixed charges.
23.1    Consent of Independent Registered Public Accounting Firm.
EX-12.1

EXHIBIT 12.1

ANIXTER INTERNATIONAL INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (a)

 

(In Millions)                                         
     Fiscal Year Ended      Six Months Ended  
     January 1,     December 31,      December 30,      December 28,      January 3,      July 4,  
     2010 (d)     2010      2011      2012 (d)      2014      2014  

Earnings

                 

Income from continuing operations

      ($41.4 )    $ 109.5       $ 200.7       $ 124.6       $ 200.4       $ 101.2   

Income tax provision

      39.8        70.7         102.8        84.6         95.6         42.7   
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Subtotal

      (1.6 )      180.2         303.5        209.2         296.0         143.9   

Fixed charges

                 

Interest expense (b)

      66.1        53.6         50.1        59.7         47.4         21.3   

Interest component of rent expense

      19.6        19.1         20.5        20.9         20.9         10.5   

Interest on FIN 48 liabilities (c)

      0.7        0.6         0.3        2.4         0.8         0.1   
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total fixed charges

      86.4        73.3         70.9        83.0         69.1         31.9   
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Earnings, as adjusted

    $ 84.8      $ 253.5       $ 374.4       $ 292.2       $ 365.1       $ 175.8   
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges

      0.98        3.46         5.28        3.52         5.28         5.51   
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

 

(a) The ratio of earnings to fixed charges should be read in conjunction with the Company’s Year End Report on Form 10-K for the year ended January 3, 2014.
(b) Includes interest on all indebtedness (including capital leases), amortization of debt discount and deferred financing fees.
(c) Interest attributable to liabilities associated with Financial Accounting Standards Board Interpretation No. 48 (“FIN 48”), Accounting for Uncertainty in Income Taxes.
(d) The ratio of earnings to fixed charge for the fiscal year end January 1, 2010 and December 28, 2012 were impacted by goodwill and long-lived asset impairment charges of $100.0 million and $48.5 million, respectively.
EX-23.1

EXHIBIT 23.1

Consent of Independent Registered Public Accounting Firm

We consent to the incorporation by reference in the Registration Statement (Form S-3 Nos. 333-180905 and 333-180905-01) of Anixter International Inc. and Anixter Inc. and in the related Prospectus of our reports dated February 20, 2014, with respect to the consolidated financial statements and schedules of Anixter International Inc., and the effectiveness of internal control over financial reporting of Anixter International Inc., included in its Annual Report on Form 10-K for the year ended January 3, 2014, filed with the Securities and Exchange Commission.

/s/ Ernst & Young LLP

Chicago, IL

September 18, 2014