EX-12 2 ex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Ex 12


EXHIBIT 12
NEWELL RUBBERMAID INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
 
Years Ended December 31,
(dollars in millions)
2011
2010 
2009
2008
2007
Earnings Available for Fixed Charges:
 
 
 
 
 
Income before income taxes
$
152.5

$
293.8

$
428.6

$
3.2

$
624.9

Equity in earnings of affiliates
1.5

(0.4
)
(0.6
)
(1.3
)
(0.1
)
Income attributable to noncontrolling interests
—

—

—

(2.0
)
(3.1
)
Total earnings
154.0

293.4

428.0

(0.1
)
621.7

Fixed charges:
 

 

 

 

 

Interest expense (1)
88.4

121.9

146.3

146.8

118.0

Portion of rent determined to be interest (2)
42.7

40.5

39.7

42.6

36.2

 
$
285.1

$
455.8

$
614.0

$
189.3

$
775.9

Fixed Charges:
 

 

 

 

 

Interest expensed and capitalized
$
90.1

$
122.7

$
147.5

$
147.5

$
120.9

Portion of rent determined to be interest (2)
42.7

40.5

39.7

42.6

36.2

 
$
132.8

$
163.2

$
187.2

$
190.1

$
157.1

Ratio of Earnings to Fixed Charges
2.15

2.79

3.28

1.00

4.94

(1) Excludes interest capitalized during the year.
(2)
A standard ratio of 33% was applied to gross rent expense to approximate the interest portion of short-term and long-term leases.