EXHIBIT 12
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NEWELL RUBBERMAID INC. AND SUBSIDIARIES
STATEMENT OF COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratio data)
Six Months Ended June 30,
1999 1998*
---- ----
Earnings (loss) available to
fixed charges:
Income before income taxes $(5,752) $490,312
Fixed charges:
Interest expense 49,701 43,677
Portion of rent determined
to be interest (1) 13,996 12,168
Minority interest in
income of subsidiary trust 13,396 13,304
Eliminate equity in earnings of
unconsolidated entities (4,056) (4,458)
-------- --------
$67,285 $555,003
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Fixed charges:
Interest expense 49,701 43,677
Portion of rent determined
to be interest (1) 13,996 12,168
Minority interest in
income of subsidiary trust 13,396 13,304
-------- --------
$ 77,093 $ 69,149
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Ratio of earnings to fixed charges 0.87 8.03
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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.
*Restated for the March 1999 merger with Rubbermaid Incorporated and the
merger with Calphalon on May 7, 1998, both of which were accounted for
as poolings of interests.