EX-12 3 nwl-ex12x123115.htm EXHIBIT 12
EXHIBIT 12
NEWELL RUBBERMAID INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

| Years Ended December 31,
(dollars in millions) | 2015 | 2014 | 2013 | 2012 | 2011
Earnings Available for Fixed Charges: |  |  |  |  |
Income before income taxes | $ | 337.5 |  | $ | 462.1 |  | $ | 536.3 |  | $ | 552.0 |  | $ | 202.3 |
Equity in earnings of affiliates | (0.6 | ) | — |  | 0.2 |  | (0.6 | ) | 1.5 |
Total earnings | 336.9 |  | 462.1 |  | 536.5 |  | 551.4 |  | 203.8 |
Fixed charges: |  |  |  |  |
Interest expense (1) | 88.1 |  | 64.3 |  | 62.3 |  | 80.4 |  | 88.4 |
Portion of rent determined to be interest (2) | 34.7 |  | 35.0 |  | 37.7 |  | 41.2 |  | 40.2 |
| $ | 459.7 |  | $ | 561.4 |  | $ | 636.5 |  | $ | 673.0 |  | $ | 332.4 |
Fixed Charges: |  |  |  |  |
Interest expensed and capitalized | $ | 89.3 |  | $ | 64.4 |  | $ | 62.4 |  | $ | 81.3 |  | $ | 90.1 |
Portion of rent determined to be interest (2) | 34.7 |  | 35.0 |  | 37.7 |  | 41.2 |  | 40.2 |
| $ | 124.0 |  | $ | 99.4 |  | $ | 100.1 |  | $ | 122.5 |  | $ | 130.3 |
Ratio of Earnings to Fixed Charges | 3.71 |  | 5.65 |  | 6.36 |  | 5.49 |  | 2.55 |

(1) | Excludes interest capitalized during the year.

(2) | A standard ratio of 33% was applied to gross rent expense to approximate the interest portion of short-term and long-term leases.