Exhibit 12
H.B. FULLER COMPANY
Computations of Ratios of Earnings to Fixed Charges and
Ratios of Earnings to Fixed Charges and Preferred Stock Dividends
(Thousands of Dollars)
Fiscal Year
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2002 2001 2000 1999 1998
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Ratio of Earnings to Fixed Charges:
Earnings:
Income before income taxes, minority interests, equity
investments and accounting change * $40,312 $61,302 $74,770 $72,398 $31,562
Add:
Interest expense 18,389 22,379 24,918 27,907 28,050
Interest portion of rental expense 1,702 1,326 1,252 1,096 1,154
Distributed earnings of 20-50% owned companies - 1,240 734 - -
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Total Earnings Available for Fixed Charges $60,403 $86,247 $101,674 $101,401 $60,766
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Fixed charges:
Interest on debt $17,559 $21,678 $24,296 $27,264 $27,811
Interest portion of rental expense 1,702 1,326 1,252 1,096 1,154
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Total fixed charges $19,261 $23,004 $25,548 $28,360 $28,965
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Ratio of earnings to fixed charges 3.1 3.7 4.0 3.6 2.1
Ratio of Earnings to Fixed Charges and Preferred Stock
Dividends:
Total fixed charges, as above $19,261 $23,004 $25,548 $28,360 $28,965
Dividends on preferred stock (pre-tax basis) 11 23 24 25 26
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Total fixed charges and preferred stock dividends $19,272 $23,027 $25,572 $28,385 $28,991
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*Earnings available for fixed charges and preferred stock
dividends $60,403 $86,247 $101,674 $101,401 $60,766
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Ratio of earnings to fixed charges and preferred stock
dividends 3.1 3.7 4.0 3.6 2.1
* The fiscal years 2002, 2001, 1999, and 1998, included charges related
to restructuring plans of $29,737, $1,564, $17,204 and $26,747,
respectively.