you aren't necessarily missing anything... a lot of folks, manufacturers included, have made a real mess of specifications!
Noise level - that's meaningless without a specified bandwidth, although at least they told you they were using a filter (A-weighting). We also do not know how the device under test is configured, but that's a separate gripe<G>!
Dynamic Range - again, there isn't enough information here - dynamic range with respect to what?
So let's guess that their noise floor number is just that - wide band noise passed through an A-weighting filter. And we'll also guess that the dynamic range is with respect to the noise floor - which is not entirely valid, but it's all we got. So that means that that the device distorts 112.5 dB above the noise floor, which would be a pretty bad specification if it were qualified. But we don't know if they are talking about dBu or dBV or dBFS or dBwtf<G>!
There are so many characteristics, and I think you need to know them all in order to understand what they are trying to tell (sell) you...
You need to know if measurements are made in the analog or digital domain.
You need to know the nominal operating level - 0VU = +4 dBu for example.
You need to know the maximum operating level, and exactly how it was determined.
You need to know what the noise floor sounds like - is it equal energy across some specified bandpass?
Then you need to define S/N or dynamic range...
S/N ratio is usually the difference between the nominal operating level and the noise floor at a specified frequency or frequencies. Sometimes it is taken as the difference between a single tone at nominal operating level and the total noise across the band pass.
Dynamic range is the actual usable range, and it extends from some maximum operating level (3% THD used to be the magic number, but it is difficult to reach that anymore, so usually the designer will simply measure the THD when the signal swings from rail to rail) to somewhere at, or maybe even below the noise floor, because it turns out we can hear stuff even if it is in the soup.
All of this gets even muddier when working within the digital domain, where the maximum level is 0 dBFS because, well, because you can't exceed "all ones". The problem is that too many chip and device designers just assume that if they have x bits they have 2^x bits of dynamic range... and that is not always true.
It gets even uglier, since dB is, by definition, an RMS measurement, and digital measurements are, again by definition, peak measurements. So there is some additional math required to make sense of that...
There is are excellent application notes on specifications at the Rane and Audio Precision web sites, among others. I'd suggest a little time with your favorite browser to help clear this up.
I spent the entire evening fighting with my computer, so if this is all a bit fuzzy let me know and I'll try to clear it up.