1 EXHIBIT 12 REEBOK INTERNATIONAL LTD. (Amounts in Thousands) Exhibit 12 -- Statement Re: Computation of Ratio of Earnings to Fixed Charges December December 1997 1996 -------- -------- Earnings Pretax Income ............................. $147,609 $223,033 Add: Interest on indebtedness ................ 64,365 42,246 Amortization of debt discount and issuance costs ........................ 399 394 Interest on Letters of Credit included in cost of goods sold ................. Portions of rent representative of the interest factor ................... 15,123 15,424 -------- -------- Income as adjusted ...................... $227,496 $281,097 ======== ======== Fixed Charges Interest on indebtedness ................ $ 64,365 $ 42,246 Amortization of debt discount and issuance costs ........................ 399 394 Interest on Letters of Credit included in cost of goods sold ................. Portions of rent representative of the interest factor ................... 15,123 15,424 -------- -------- Fixed charges ............................. $ 79,887 $ 58,064 ======== ======== Ratio of earnings to fixed charges ........ 2.85 4.84