EXHIBIT 12
RUSSELL-STANLEY HOLDINGS AND SUBSIDIARIES
COMPUTATION OF EARNINGS TO FIXED CHARGES
(DOLLARS IN MILLIONS)
FISCAL YEAR ENDED DECEMBER 31,
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2000 1999 1998 1997 1996
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RATIO OF EARNINGS TO FIXED CHARGES:
Income (loss) before taxes and extraordinary items....... ($22.5) ($9.7) ($4.8) $ 6.9 $ 6.2
Plus: Fixed charges...................................... 25.4 23.3 17.5 9.2 7.8
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Income before taxes and extraordinary items plus fixed
charges................................................ $ 2.9 $13.6 $12.7 $16.1 $14.0
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Fixed charges:
Interest expense......................................... $ 23.2 $21.1 $16.0 $ 8.8 $ 7.5
One third of rental expense, representing interest
portion................................................ 2.2 2.2 1.5 0.4 0.3
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$ 25.4 $23.3 $17.5 $ 9.2 $ 7.8
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Ratio of Earnings to Fixed Charges....................... * * * 1.8 1.8
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* Earnings were insufficient to cover fixed charges by $22.5 in 2000, $9.7 in
1999 and $4.8 in 1998.