Newell Co.
Statement of Computation of
Earnings to Fixed Charges
(in Thousands, Except Ratio Data)
3 Months
Ended
3/31/97 1996 1995 1994 1993 1992
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Earnings Available for Fixed Charges:
Income before income taxes $62,521 $424,634 $370,785 $329,292 $275,556 $277,564
Fixed charges
Interest expense 12,785 56,989 49,812 29,970 19,062 20,417
Portion of rent determined to be interest (1) 3,713 14,855 12,634 10,494 8,580 6,237
Equity Earnings (264) (6,400) (6,000) (5,700) (3,800) (3,400)
Total Earnings Available for Fixed $78,755 $490,078 $427,231 $364,056 $299,398 $300,818
Charges
Fixed Charges
Interest expense $12,785 $56,989 $49,812 $29,970 $19,062 $20,417
Portion of rent determined to be interest (1) 3,713 14,855 12,634 10,494 8,580 6,237
Total Fixed Charges $16,498 $71,844 $62,446 $40,464 $27,642 $26,654
Ratio Earnings to Fixed Charges 4.77 6.82 6.84 9.00 10.83 11.29
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(1) 33% of gross rent expense was deemed to approximate the interest portion of
short-term and long-term leases.