COMBINED PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES | Exhibit 12 |
$ - Millions | Fiscal Year | Six Months | ||||||
Ended | Ended | |||||||
Dec-04 | Jun-05 | |||||||
Earnings Available: | ||||||||
Income (Loss) from continuing ops, | 76.7 | 25.0 | ||||||
before prov for taxes on | ||||||||
income, min int and | ||||||||
extraordinary item | ||||||||
Less: Income (loss) of equity investees | 1.0 | 0.9 | ||||||
included above | ||||||||
Less: Capitalized interest on B/S | 0.1 | 0.1 | ||||||
Plus: Distributed Earnings of Equity Investees | 1.4 | — | ||||||
77.0 | 24.0 | |||||||
Fixed Charges: | ||||||||
Interest expense | 65.0 | 32.6 | ||||||
including capitalized interest on B/S | 0.1 | 0.1 | ||||||
& amort of debt discount and exps | ||||||||
Portion of rentals representative of | ||||||||
an interest factor | 12.9 | 6.0 | ||||||
Total Fixed Charges (a) | 78.0 | 38.7 | ||||||
Total Earnings Available (b) | 155.0 | 62.7 | ||||||
RATIO OF EARNINGS TO FIXED CHARGES (b)/(a) | 2.0 | 1.6 |
ACCO BRANDS CORPORATION RATIO OF EARNINGS TO FIXED CHARGES |
$ - Millions | Six Months | |||||||||||||||||||||||||||
Fiscal Years Ended December 27, | Ended | |||||||||||||||||||||||||||
2000 | 2001 | 2002 | 2003 | 2004 | Jun-04 | Jun-05 | ||||||||||||||||||||||
Earnings Available: | ||||||||||||||||||||||||||||
Income (Loss) from continuing ops, | (518.6 | ) | (99.7 | ) | 5.5 | 39.9 | 89.6 | 8.4 | 42.0 | |||||||||||||||||||
before prov for taxes on | ||||||||||||||||||||||||||||
income, min int and | ||||||||||||||||||||||||||||
extraordinary item | ||||||||||||||||||||||||||||
Less: Income (loss) of equity investees | 0.2 | — | — | (0.7 | ) | 0.6 | 0.2 | (0.1 | ) | |||||||||||||||||||
included above | ||||||||||||||||||||||||||||
Capitalized interest | — | — | — | — | — | — | — | |||||||||||||||||||||
(518.8 | ) | (99.7 | ) | 5.5 | 40.6 | 89.0 | 8.2 | 42.1 | ||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest expense | 36.4 | 21.4 | 12.3 | 8.0 | 8.5 | 3.9 | 4.1 | |||||||||||||||||||||
including capitalized interest) | — | — | — | — | — | — | — | |||||||||||||||||||||
& amort of debt discount and exps | — | — | — | — | — | — | — | |||||||||||||||||||||
Portion of rentals representative of | ||||||||||||||||||||||||||||
an interest factor | 8.2 | 8.0 | 8.6 | 7.5 | 8.0 | 3.6 | 3.5 | |||||||||||||||||||||
Total Fixed Charges (a) | 44.6 | 29.4 | 20.9 | 15.5 | 16.5 | 7.5 | 7.6 | |||||||||||||||||||||
Total Earnings Available (b) | (474.2 | ) | (70.3 | ) | 26.4 | 56.1 | 105.5 | 15.7 | 49.7 | |||||||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES (b)/(a) (1) | — | — | 1.26 | 3.6 | 6.4 | 2.1 | 6.5 |
(1) | Earnings were inadequate to cover fixed charges for the years ended December 27, 2000 and 2001 by $518.8 and $99.7, respectively. |