Mattel 2002 Annual Report Download - page 108

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EXHIBIT 12.0
(Page 1 of 2)
MATTEL, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratios)
For the Years Ended December 31, (a)
2002 2001 2000 1999 1998
Earnings Available For Fixed Charges:
Income from continuing operations before
income taxes and cumulative effect of change
inaccountingprinciples ................. $621,497 $430,010 $225,424 $170,164 $459,446
Less (plus) minority interest and undistributed
income (loss) of less-than-majority-owned
affiliates, net .......................... 126 170 440 145 (165)
Add:
Interest expense ..................... 113,897 155,132 152,979 131,609 110,833
Appropriate portion of rents (b) ......... 16,615 14,923 14,748 11,974 16,262
Earnings available for fixed
charges ...................... $752,135 $600,235 $393,591 $313,892 $586,376
Fixed Charges:
Interest expense ......................... $113,897 $155,132 $152,979 $131,609 $110,833
Capitalized interest ....................... 43 6 507 527 993
Appropriate portion of rents (b) ............. 16,615 14,923 14,748 11,974 16,262
Fixedcharges ....................... $130,555 $170,061 $168,234 $144,110 $128,088
Ratio of earnings to fixed charges . . . 5.76X 3.53X 2.34X 2.18X 4.58X
(a) Although Mattel merged with The Learning Company, Inc. (“Learning Company”) in May 1999, the results
of operations of Learning Company have not been included in this calculation since the Consumer Software
segment was reported as a discontinued operation effective March 31, 2000.
(b) Portion of rental expenses which is deemed representative of an interest factor, not to exceed one-third of
total rental expense.