EXHIBIT 12
NEWELL RUBBERMAID INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Years Ended December 31, | ||||||||||||||||||||
(dollars in millions) | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||
Earnings Available for Fixed Charges: | ||||||||||||||||||||
Income before income taxes | $ | 300.3 | $ | 428.2 | $ | 3.8 | $ | 632.0 | $ | 518.5 | ||||||||||
Equity in earnings of affiliates | (0.4 | ) | (0.6 | ) | (1.3 | ) | (0.1 | ) | (0.9 | ) | ||||||||||
Income attributable to noncontrolling interests | — | — | (2.0 | ) | (3.1 | ) | (3.6 | ) | ||||||||||||
Total earnings | 299.9 | 427.6 | 0.5 | 628.8 | 514.0 | |||||||||||||||
Fixed charges - | ||||||||||||||||||||
Interest expense (1) | 121.9 | 146.3 | 146.8 | 118.0 | 138.8 | |||||||||||||||
Portion of rent determined to be interest (2) | 40.5 | 39.7 | 42.6 | 36.2 | 35.1 | |||||||||||||||
$ | 462.3 | $ | 613.6 | $ | 189.9 | $ | 783.0 | $ | 687.9 | |||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expensed and capitalized | $ | 122.7 | $ | 147.5 | $ | 147.5 | $ | 120.9 | $ | 140.2 | ||||||||||
Portion of rent determined to be interest (2) | 40.5 | 39.7 | 42.6 | 36.2 | 35.1 | |||||||||||||||
$ | 163.2 | $ | 187.2 | $ | 190.1 | $ | 157.1 | $ | 175.3 | |||||||||||
Ratio of Earnings to Fixed Charges | 2.83 | 3.28 | 1.00 | 4.98 | 3.92 | |||||||||||||||
(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. |