Mattel (MAT) 10-Q 2003 Q3 Quarterly report

EXHIBIT 12.0

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MATTEL, INC. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands, except ratios)

	FOR THE NINE MONTHS ENDED						FOR THE YEARS ENDED DECEMBER 31, (a)
	Sept. 30, 2003			Sept. 30, 2002			2002			2001			2000			1999			1998
	(Unaudited)
EARNINGS AVAILABLE FOR FIXED CHARGES:
Income from continuing operations before     income taxes and cumulative effect of     changes in accounting principles	$	446,905		$	366,349		$	621,497		$	430,010		$	225,424		$	170,164		$	459,446
Less (plus) minority interest and undistributed     income (loss) of less-than-majority-owned     affiliates, net		(2	)		257			126			170			440			145			(165	)
Add:
Interest expense		56,847			85,268			113,897			155,132			152,979			131,609			110,833
Appropriate portion of rents(b)		12,372			13,432			16,615			14,923			14,748			11,974			16,262
Earnings available for fixed charges	$	516,122		$	465,306		$	752,135		$	600,235		$	393,591		$	313,892		$	586,376
FIXED CHARGES:
Interest expense	$	56,847		$	85,268		$	113,897		$	155,132		$	152,979		$	131,609		$	110,833
Capitalized interest		—			49			43			6			507			527			993
Appropriate portion of rents(b)		12,372			13,432			16,615			14,923			14,748			11,974			16,262
Fixed charges	$	69,219		$	98,749		$	130,555		$	170,061		$	168,234		$	144,110		$	128,088
Ratio of earnings to fixed charges		7.46	X		4.71	X		5.76	X		3.53	X		2.34	X		2.18	X		4.58	X

(a) Although Mattel merged with The Learning Company, Inc. (“Learning Company”) in May 1999, the results of operations of Learning Company have not been included in this calculation since the Consumer Software segment was reported as a discontinued operation effective March 31, 2000.

(b) Portion of rental expenses which is deemed representative of an interest factor, not to exceed one-third of total rental expense.

EXHIBIT 12.0

(Page 2 of 2)

MATTEL, INC. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES

AND PREFERRED STOCK DIVIDENDS

(In thousands, except ratios)

	FOR THE NINE MONTHS ENDED						FOR THE YEARS ENDED DECEMBER 31, (a)
	Sept. 30,			Sept. 30,
	2003			2002			2002			2001			2000			1999			1998
	(Unaudited)
EARNINGS AVAILABLE FOR FIXED CHARGES:
Income from continuing operations before income taxes and cumulative effect of changes in accounting principles	$	446,905		$	366,349		$	621,497		$	430,010		$	225,424		$	170,164		$	459,446
Less (plus) minority interest and undistributed income (loss) of less-than-majority-owned affiliates, net		(2	)		257			126			170			440			145			(165	)
Add:
Interest expense		56,847			85,268			113,897			155,132			152,979			131,609			110,833
Appropriate portion of rents (b)		12,372			13,432			16,615			14,923			14,748			11,974			16,262
Earnings available for fixed charges	$	516,122		$	465,306		$	752,135		$	600,235		$	393,591		$	313,892		$	586,376
FIXED CHARGES:
Interest expense	$	56,847		$	85,268		$	113,897		$	155,132		$	152,979		$	131,609		$	110,833
Capitalized interest		—			49			43			6			507			527			993
Dividends—Series C preferred stock		—			—			—			—			—			3,980			7,960
Appropriate portion of rents (b)		12,372			13,432			16,615			14,923			14,748			11,974			16,262
Fixed charges	$	69,219		$	98,749		$	130,555		$	170,061		$	168,234		$	148,090		$	136,048
Ratio of earnings to combined fixed charges and preferred stock dividends		7.46	X		4.71	X		5.76	X		3.53	X		2.34	X		2.12	X		4.31	X

(a) Although Mattel merged with Learning Company in May 1999, the results of operations of Learning Company have not been included in this calculation since the Consumer Software segment was reported as a discontinued operation effective March 31, 2000.

(b) Portion of rental expenses which is deemed representative of an interest factor, not to exceed one-third of total rental expense.