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)
First Fiscal Year
Quarter ----------------------------------------------------------------
2004 2003 2002 2001 2000 1999
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Ratio of Earnings to Fixed Charges:
Earnings:
Income before income taxes, minority interests,
equity investments and accounting change $ 5,871 $ 50,808 $ 40,312 $ 61,302 $ 74,770 $ 72,398
Add:
Interest expense 3,787 15,500 18,389 22,379 24,918 27,907
Interest portion of rental expense 283 1,412 1,702 1,326 1,252 1,096
Distributed earnings of 20-50% owned companies -- 469 -- 1,240 734 --
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Total Earnings Available for Fixed Charges $ 9,941 $ 68,189 $ 60,403 $ 86,247 $ 101,674 $ 101,401
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Fixed charges:
Interest on debt $ 3,685 $ 14,683 $ 17,559 $ 21,678 $ 24,296 $ 27,264
Interest portion of rental expense 283 1,412 1,702 1,326 1,252 1,096
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Total fixed charges $ 3,968 $ 16,095 $ 19,261 $ 23,004 $ 25,548 $ 28,360
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Ratio of earnings to fixed charges 2.5 4.2 3.1 3.7 4.0 3.6
Ratio of Earnings to Fixed Charges and Preferred
Stock Dividends:
Total fixed charges, as above $ 3,968 $ 16,095 $ 19,261 $ 23,004 $ 25,548 $ 28,360
Dividends on preferred stock (pre-tax basis) -- -- 11 23 24 25
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Total fixed charges and preferred stock dividends $ 3,968 $ 16,095 $ 19,272 $ 23,027 $ 25,572 $ 28,385
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Earnings available for fixed charges and preferred
stock dividends $ 9,941 $ 68,189 $ 60,403 $ 86,247 $ 101,674 $ 101,401
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Ratio of earnings to fixed charges and preferred
stock dividends 2.5 4.2 3.1 3.7 4.0 3.6