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)
Nine Months Ended September 30,
1999 1998*
---- ----
Earnings available to fixed charges:
Income before income taxes $ 113,489 $ 712,563
Fixed charges:
Interest expense 75,713 73,600
Portion of rent determined
to be interest (1) 24,239 21,275
Minority interest in
income of subsidiary trust 20,082 19,984
Eliminate equity in earnings of
unconsolidated entities (6,466) (5,527)
-------- --------
$ 227,057 $ 821,895
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Fixed charges:
Interest expense $ 75,713 $ 73,600
Portion of rent determined
to be interest (1) 24,239 21,275
Minority interest in
income of subsidiary trust 20,082 19,984
-------- --------
$ 120,034 $ 114,859
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Ratio of earnings to fixed charges 1.89 7.16
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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 May 1998 merger with Calphalon, both of which were accounted
for as poolings of interests.
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