EXHIBIT 12
STATEMENT OF COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
----------------------------------
For The Year Ended December 31,
-------------------------------
1998 1997* 1996* 1995* 1994*
---- ---- ---- ---- ----
(In thousands, except ratio data)
Earnings available to fixed charges:
Income before income taxes $684,846 $485,334 $428,300 $377,151 $338,432
Fixed charges -
Interest expense 60,397 76,413 58,541 51,443 31,435
Portion of rent determined
to be interest (1) 18,838 16,963 15,185 12,964 10,824
Minority interest in income
of subsidiary trust 26,692 1,528 0 0 0
Eliminate equity in earnings (7,127) (5,831) (6,364) (5,993) (5,661)
-------- -------- -------- -------- ---------
$787,900 $574,407 $495,662 $435,565 $375,030
======== ======== ======== ======== ========
Fixed charges:
Interest expense $ 60,397 $ 76,413 $ 58,541 $ 51,443 $ 31,435
Portion of rent determined
to be interest (1) 18,838 16,963 15,185 12,964 10,824
Minority interest in income
of subsidiary trust 26,692 1,528 0 0 0
-------- --------- --------- --------- ---------
$105,927 $ 94,904 $ 73,726 $ 64,407 $ 42,259
======== ========= ========= ========= =========
Ratio of earnings to
fixed charges 7.53 6.05 6.72 6.76 8.87
======== ========= ========= ========= =========
(1) A standard ratio of 33% was applied to gross rent expense to
approximate the interest portion of short-term and long-term leases.
* Restated for the May 1998 merger with Calphalon Corporation,
which was accounted for as a pooling of interests.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>10
<TEXT>
EXHIBIT 21.1
SIGNIFICANT SUBSIDIARIES
------------------------
NAME OWNERSHIP
Intercraft Company Delaware 100% of stock owned by
Newell Co.
Newell Investments Delaware 100% of stock owned by
Inc. Newell Operating
Company
Newell Operating Delaware 77.5% of stock owned
Company by Newell Co.; 22.5%
of stock owned by
Anchor Hocking
Corporation
Sanford, L.P. Illinois (limited Newell Operating
partnership) Company is the general
partner and Sanford
Investment Company is
the limited partner
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23
<SEQUENCE>11
<TEXT>
EXHIBIT 23.1
[ARTHUR ANDERSEN LETTERHEAD]
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
-----------------------------------------
As independent public accountants, we hereby consent to the
incorporation of our report dated January 27, 1999 included in Form
10-K, into the Company's previously filed Form S-8 Registration
Statements File Nos. 33-24447, 33-25196, 33-40641, 33-67632, 33-62047
and 333-38621, Form S-3 Registration Statements File Nos. 33-46208,
33-64225, 333-47261, 333-47261 and 333-53039, and Post-Effective Amendment
No. 1 on Form S-8 to Form S-4 Registration Statements File No 33-44957.
ARTHUR ANDERSEN LLP
Milwaukee, Wisconsin
March 19, 1999
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-27
<SEQUENCE>12
<DESCRIPTION>ART. 5 FD6 FOR 10-K
<TEXT>
<ARTICLE> 5
<LEGEND> This schedule contains a summary financial
information extracted from the Newell Co. and
Subsidiaries Consolidated Balance Sheets and
Statements of Income and is qualified in its
entirety by reference to such financial
statements.
<MULTIPLIER> 1,000
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<CASH> 57,513
<SECURITIES> 0
<RECEIVABLES> 652,354
<ALLOWANCES> (24,470)<F1>
<INVENTORY> 714,531
<CURRENT-ASSETS> 1,591,075
<PP&E> 1,330,851<F2>
<DEPRECIATION> (495,205)<F2>
<TOTAL-ASSETS> 4,327,912
<CURRENT-LIABILITIES> 821,456
<BONDS> 866,211
<PREFERRED-MANDATORY> 500,000
<PREFERRED> 0
<COMMON> 162,739
<OTHER-SE> 1,749,268
<TOTAL-LIABILITY-AND-EQUITY> 4,327,912
<SALES> 3,720,040
<TOTAL-REVENUES> 1,171,976
<CGS> 2,548,064
<TOTAL-COSTS> 3,185,940
<OTHER-EXPENSES> (150,746)
<LOSS-PROVISION> 4,683<F1>
<INTEREST-EXPENSE> 60,397
<INCOME-PRETAX> 684,846
<INCOME-TAX> 288,690
<INCOME-CONTINUING> 396,156
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 396,156
<EPS-PRIMARY> 2.44
<EPS-DILUTED> 2.38
<FN>
479
<F1> Allowances for doubtful accounts are reported as contra account
to accounts receivable. The Corporate reserve for bad debts is a
percentage of trade receivables based on the bad debts
experienced in one or more past years, general economic
conditions, the age of the receivables and other factors that
indicate the element of uncollectibility in the receivables
outstanding at the end of the period.
<F2> See note 5 to the consolidated financial statements.