Mattel 2002 Annual Report Download - page 109

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EXHIBIT 12.0
(Page 2 of 2)
MATTEL, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(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
Dividends—Series C preferred stock ......... — — — 3,980 7,960
Appropriate portion of rents (b) ............. 16,615 14,923 14,748 11,974 16,262
Fixedcharges ....................... $130,555 $170,061 $168,234 $148,090 $136,048
Ratio of earnings to combined fixed
charges and preferred stock
dividends..................... 5.76X 3.53X 2.34X 2.12X 4.31X
(a) Although Mattel merged with 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.