EXHIBIT 12
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NEWELL RUBBERMAID INC. AND SUBSIDIARIES
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN MILLIONS, EXCEPT RATIO DATA)
Three Months Ended Six Months Ended
June 30, June 30,
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2003 2002 2003 2002
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<s> <c> <c> <c> <c>
Earnings available for fixed charges:
Income before income taxes and cumulative effect
of accounting change $109.2 $134.3 $133.0 $211.5
Fixed charges:
Interest expense 28.6 29.3 60.6 54.4
Portion of rent determined to be interest (1) 11.5 10.3 22.2 19.9
Minority interest in income of subsidiary trust 6.7 6.7 13.4 13.4
Equity earnings - 0.2 - (0.7)
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$156.0 $180.8 $229.2 $298.5
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Fixed charges:
Interest expense $28.6 $29.3 $60.6 $54.4
Portion of rent detremined to be interest (1) 11.5 10.3 22.2 19.9
Minority interest income of subsidiary trust 6.7 6.7 13.4 13.4
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$46.8 $46.3 $96.2 $87.7
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Ratio of earnings to fixed charges 3.33 3.90 2.38 3.40
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(1) A standard ratio of 33% was applied to gross rent expense to
approximate the interest portion of short-term and long-term
leases.