EX-12 3 xex-12.txt EXHIBIT 12 ---------- NEWELL RUBBERMAID INC. AND SUBSIDIARIES STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN MILLIONS, EXCEPT RATIO DATA)
Quarter Ended Nine Months Ended September 30, September 30, 2002 2001 2002 2001 ---- ---- ---- ---- Earnings available for fixed charges: Income before income taxes and cumulative effect of accounting change $114.0 $130.2 $325.5 $305.5 Fixed charges: Interest expense 29.7 32.3 84.1 107.2 Portion of rent determined to be interest (1) 9.8 9.0 29.7 26.6 Minority interest in income of subsidiary trust 6.7 6.7 20.0 20.0 Equity earnings - (1.7) (0.7) (5.4) ------ ------ ------ ------ $160.2 $176.5 $458.6 $453.9 ====== ====== ====== ====== Fixed charges: Interest expense $29.7 $32.3 $84.1 $107.2 Portion of rent determined to be interest (1) 9.8 9.0 29.7 26.6 Minority interest in income of subsidiary trust 6.7 6.7 20.0 20.0 ------ ------ ------ ------ $46.2 $48.0 $133.8 $153.8 ====== ====== ====== ====== Ratio of earnings to fixed charges 3.47 3.68 3.43 2.95 ====== ====== ====== ======
(1) A standard ratio of 33% was applied to gross rent expense to approximate the interest portion of short-term and long-term leases.