EX-12 4 dex12.txt RATIO OF EARNINGS TO FIXED CHARGES MAYTAG CORPORATION Exhibit 12 Computation of Ratio of Earnings to Fixed Charges (Amounts in thousands of dollars except ratios)
Year Ended December 31 -------------------------------------------- 2001 2000 1999 1998 1997 -------- -------- -------- -------- -------- Consolidated pretax income from continuing operations before minority interests, extraordinary item and cumulative effect of accounting change............................. $212,084 $356,654 $532,352 $463,067 $291,216 Interest expense................................ 64,828 60,309 48,329 52,615 49,164 Mark to market adjustment on interest rate swap included in interest expense.................. 9,330 6,295 5,972 5,616 5,370 Depreciation of capitalized interest............ 2,467 2,643 2,750 2,952 2,530 Interest portion of rental expense.............. 8,182 7,142 6,841 7,020 6,736 -------- -------- -------- -------- -------- Earnings........................................ $296,891 $433,043 $596,244 $531,270 $355,016 ======== ======== ======== ======== ======== Interest expense (excluding swap mark to market) $ 74,158 $ 66,604 $ 54,301 $ 58,231 $ 54,534 Interest capitalized............................ 1,056 552 72 17 4,191 Interest portion of rental expense.............. 8,182 7,142 6,841 7,020 6,736 -------- -------- -------- -------- -------- Fixed charges................................... $ 83,396 $ 74,298 $ 61,214 $ 65,268 $ 65,461 ======== ======== ======== ======== ======== Ratio of earnings to fixed charges.............. 3.56 5.83 9.74 8.14 5.42
Prior year results have been restated to reflect Blodgett and Rongshida-Maytag as discontinued operations.