EX-12 5 c83697exv12.htm STMT OF COMPUTATION OF EARNINGS TO FIXED CHARGES exv12
 

EXHIBIT 12

NEWELL RUBBERMAID INC. AND SUBSIDIARIES
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

                                         
    YEAR ENDED DECEMBER 31,
(In millions, except per share data)   2003
   2002
   2001
   2000
   1999
                                         
EARNINGS AVAILABLE TO FIXED CHARGES:
                                        
Income before income taxes
   $ 20.1     $ 468.5     $ 415.9     $ 685.5     $ 230.9  
Fixed charges -
                                        
Interest expense
     140.1       137.3       137.5       130.0       100.0  
Portion of rent determined
to be interest
     43.7       40.7       36.9       34.0       30.3  
Minority interest in
income of subsidiary trust
     —       —       26.7       26.7       26.8  
Equity earnings
     —       (0.8 )     (7.2 )     (8.0 )     (8.1 )
 
    
 		      
 		      
 		      
 		      
 		  
 
   $ 203.9     $ 645.7     $ 609.8     $ 868.2     $ 379.9  
 
    
 		      
 		      
 		      
 		      
 		  
FIXED CHARGES:
                                        
Interest expense
   $ 140.1     $ 137.3     $ 137.5     $ 130.0     $ 100.0  
Portion of rent determined
to be interest
     43.7       40.7       36.9       34.0       30.3  
Minority interest in
income of subsidiary trust
     —       —       26.7       26.7       26.8  
 
    
 		      
 		      
 		      
 		      
 		  
 
   $ 183.8     $ 178.0     $ 201.1     $ 190.7     $ 157.1  
 
    
 		      
 		      
 		      
 		      
 		  
RATIO OF EARNINGS TO FIXED
CHARGES
     1.11       3.63       3.03       4.55       2.42  
 
    
 		      
 		      
 		      
 		      
 		  

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