EX-12 3 dex12.txt COMPUTATION OF RATIOS Exhibit 12 H.B. FULLER COMPANY Computations of Ratios of Earnings to Fixed Charges and Ratios of Earnings to Fixed Charges and Preferred Stock Dividends (Thousands of Dollars)
Fiscal Year -------------------------------------------------------------- 2003 2002 2001 2000 1999 -------------------------------------------------------------- Ratio of Earnings to Fixed Charges: Earnings: Income before income taxes, minority interests, equity investments and accounting change $ 50,808 $ 40,312 $ 61,302 $ 74,770 $ 72,398 Add: Interest expense 15,500 18,389 22,379 24,918 27,907 Interest portion of rental expense 1,412 1,702 1,326 1,252 1,096 Distributed earnings of 20-50% owned companies 469 -- 1,240 734 -- -------------------------------------------------------------- Total Earnings Available for Fixed Charges $ 68,189 $ 60,403 $ 86,247 $ 101,674 $ 101,401 ============================================================== Fixed charges: Interest on debt $ 14,683 $ 17,559 $ 21,678 $ 24,296 $ 27,264 Interest portion of rental expense 1,412 1,702 1,326 1,252 1,096 -------------------------------------------------------------- Total fixed charges $ 16,095 $ 19,261 $ 23,004 $ 25,548 $ 28,360 ============================================================== Ratio of earnings to fixed charges 4.2 3.1 3.7 4.0 3.6 Ratio of Earnings to Fixed Charges and Preferred Stock Dividends: Total fixed charges, as above $ 16,095 $ 19,261 $ 23,004 $ 25,548 $ 28,360 Dividends on preferred stock (pre-tax basis) -- 11 23 24 25 -------------------------------------------------------------- Total fixed charges and preferred stock dividends $ 16,095 $ 19,272 $ 23,027 $ 25,572 $ 28,385 ============================================================== Earnings available for fixed charges and preferred stock dividends $ 68,189 $ 60,403 $ 86,247 $ 101,674 $ 101,401 ============================================================== Ratio of earnings to fixed charges and preferred stock dividends 4.2 3.1 3.7 4.0 3.6