EX-12 7 xex-12.txt STMT. OF COMPUTATION OF EARNINGS TO FIXED CHARGES EXHIBIT 12 ----------
NEWELL RUBBERMAID INC. AND SUBSIDIARIES STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES -------------------------------------------------------------- YEAR ENDED DECEMBER 31 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- (IN THOUSANDS, EXCEPT RATIO DATA) EARNINGS AVAILABLE TO FIXED CHARGES: Income before income taxes $415,865 $685,487 $230,939 $816,973 $544,590 Fixed Charges - Interest expense 137,453 130,033 100,021 100,514 114,357 Portion of rent determined to be interest (1) 36,951 33,957 30,319 26,287 23,343 Minority interest in income of subsidiary trust 26,707 26,725 26,771 26,692 1,528 Equity in earnings elimination (7,221) (7,996) (8,118) (7,127) (5,831) ------- ------- ------- ------- ------- $609,755 $868,206 $379,932 $963,339 $677,987 ======= ======= ======= ======= ======== FIXED CHARGES: Interest expense $137,453 $130,033 $100,021 $100,514 $114,357 Portion of rent determined to be interest (1) 36,951 33,957 30,319 26,287 23,343 Minority interest in income subsidiary trust 26,707 26,725 26,771 26,692 1,528 ------- ------- ------- ------- ------- $201,111 $190,715 $157,111 $153,493 $139,228 ======= ======= ======= ======= ======= RATIO OF EARNINGS TO FIXED CHARGES 3.03 4.55 2.42 6.28 4.87 ==== ==== ==== ==== ====
(1) A standard ratio of 33% was applied to gross rent expense to approximate the interest portion of short-term and long-term leases.