EX-12 3 dex12.htm STATEMENT OF COMPUTATION OF EARNINGS RELATION TO FIXED CHARGES Statement of Computation of Earnings Relation to Fixed Charges

EXHIBIT 12

NEWELL RUBBERMAID INC. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     YEARS ENDED DECEMBER 31,  
      
(dollars in millions)    2008    2007    2006    2005    2004  
      

EARNINGS AVAILABLE FOR FIXED CHARGES:

               

Income from continuing operations before income taxes

    $          1.8    $    628.9    $    514.9    $    463.4    $    197.9     

Adjustment - - equity in earnings of affiliates

    (1.3)    (0.1)    (0.9)    (0.9)    (0.9)    

Fixed charges -

               

Interest expense (1)

    146.8    118.0    138.8    142.1    129.7     

Portion of rent determined to be interest (2)

    42.6    36.2    35.1    34.2    33.4     
      
   $      189.9    $    783.0    $    687.9    $    638.8    $    360.1     
      

FIXED CHARGES:

               

Interest expensed and capitalized

    $      147.5    $    120.9    $    140.2    $    142.1    $    129.7     

Portion of rent determined to be interest (2)

    42.6    36.2    35.1    34.2    33.4     
      
   $      190.1    $    157.1    $    175.3    $    176.3    $    163.1     
      

RATIO OF EARNINGS TO FIXED CHARGES

    1.00    4.98    3.92    3.62    2.21     
      

 

(1)

Excludes interest capitalized during the year.

 

(2)

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