Mattel 2003 Annual Report Download - page 114

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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 Year Ended December 31, (a)
2003 2002 2001 2000 1999
Earnings Available for Fixed Charges:
Income from continuing operations before
income taxes and cumulative effect of change
in accounting principles ................. $740,854 $621,497 $430,010 $225,424 $170,164
Less (plus) minority interest and undistributed
income (loss) of less-than-majority-owned
affiliates, net .......................... 345 126 170 440 145
Add:
Interest expense ..................... 80,577 113,897 155,132 152,979 131,609
Appropriate portion of rents (b) ......... 16,627 16,615 14,923 14,748 11,974
Earnings available for fixed
charges ...................... $838,403 $752,135 $600,235 $393,591 $313,892
Fixed Charges:
Interest expense ......................... $ 80,577 $113,897 $155,132 $152,979 $131,609
Capitalized interest ....................... — 43 6 507 527
Dividends—Series C preferred stock ......... ————3,980
Appropriate portion of rents (b) ............. 16,627 16,615 14,923 14,748 11,974
Fixed charges ....................... $ 97,204 $130,555 $170,061 $168,234 $148,090
Ratio of earnings to combined fixed
charges and preferred stock
dividends ..................... 8.63X 5.76X 3.53X 2.34X 2.12X
(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
adiscontinued 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.