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EXHIBIT 12.1
RAYOVAC CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(AMOUNTS IN MILLIONS, EXCEPT RATIOS) (UNAUDITED)
The ratio of earnings to fixed charges is computed by dividing earnings by
fixed charges. For this ratio, earnings include net income before income taxes
and fixed charges, net of capitalized interest. Fixed charges include gross
interest expense, whether expensed or capitalized.
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Nine Months Ended
Fiscal Year Ended September 30, -------------------
-------------------------------------------- June 30, June 29,
1998 1999 2000 2001 2002 2002 2003
------ ------ ------ ------ ------ -------- --------
Fixed Charges:
Interest expense $15.8 $17.5 $31.0 $27.2 $16.0 $12.2 $28.1
Rental estimate 3.7 3.5 3.1 3.6 3.7 2.8 3.4
----- ----- ----- ----- ----- ----- -----
Total fixed charges $19.4 $20.9 $34.2 $30.8 $19.7 $15.0 $31.5
===== ===== ===== ===== ===== ===== =====
Earnings:
Earnings from continuing operations
before income taxes $21.9 $36.5 $57.9 $17.8 $46.0 $25.5 $4.1
Fixed Charges 19.4 20.9 34.2 30.8 19.7 15.0 31.5
----- ----- ----- ----- ----- ----- -----
Total adjusted earnings $41.3 $57.5 $92.0 $48.6 $65.7 $40.4 $35.5
===== ===== ===== ===== ===== ===== =====
Ratio of earnings to fixed charges 2.1x 2.7x 2.7x 1.6x 3.3x 2.7x 1.1x
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