EX-12 3 xex-12.txt EXHIBIT 12 ---------- NEWELL RUBBERMAID INC. AND SUBSIDIARIES STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS, EXCEPT RATIO DATA)
Quarter Ended Six Months June 30, Ended June 30, --------------- ----------------- 2002 2001 2002 2001 ---- ---- ---- ---- Earnings available for fixed charges: Income before income taxes and cumulative effect $134,276 $114,297 $211,494 $175,284 of accounting change Fixed charges: Interest expense 29,313 35,596 54,373 74,917 Portion of rent determined to be interest (1) 10,256 8,637 19,903 17,579 Minority interest in income of subsidiary 6,676 6,677 13,361 13,354 trust Equity earnings 155 (1,422) (749) (3,728) -------- -------- -------- -------- $180,676 $163,785 $298,382 $277,406 ======== ======== ======== ======== Fixed charges: Interest expense $29,313 $35,596 $54,373 $74,917 Portion of rent determined to be interest (1) 10,256 8,637 19,903 17,579 Minority interest in income of subsidiary trust 6,676 6,677 13,361 13,354 -------- -------- -------- -------- $46,245 $50,910 $87,637 $105,850 ======== ======== ======== ======== Ratio of earnings to fixed charges 3.91 3.22 3.40 2.62 ======== ======== ======== ========
(1) A standard ratio of 33% was applied to gross rent expense to approximate the interest portion of short-term and long-term leases.