Newell Rubbermaid Reports Solid Fourth Quarter 2012 Results and Provides 2013 Guidance

Fri Feb 1, 2013 6:30am EST

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* Normalized EPS of $0.43, up 7.5 Percent vs. Prior Year
* Reported EPS of $0.35, up 29.6 Percent vs. Prior Year

ATLANTA--(Business Wire)--
Newell Rubbermaid (NYSE: NWL) today announced solid fourth quarter 2012 results.


"We are pleased with our quarterly and full year 2012 performance," said
President and Chief Executive Officer Michael Polk. "Our solid fourth quarter
financial results represent the sixth consecutive quarter of consistent delivery
in line with or better than expectations. Full year normalized EPS and operating
cash flow both came in above the high end of our guidance range. We increased
core sales by 2.2%, a sequential improvement versus last year, and a solid
outcome in the face of tough economic conditions in Europe and challenges in our
Décor business. Our Win Bigger brands have healthy share momentum and we are
generating strong core sales growth in emerging markets, particularly in Latin
America. We also returned significant levels of cash to shareholders through our
dividend, which nearly doubled in 2012 to the current annualized rate of $0.60,
and our ongoing share repurchase program." 

Polk added, "Looking ahead, we continue to be sharply focused on driving
structural costs out and accelerating growth through the execution of our Growth
Game Plan. The strategic changes we are making to invest behind our Win Bigger
businesses will drive accelerated performance and enable us to build a bigger,
faster-growing, more global and more profitable Newell Rubbermaid." 

Executive Summary

* Fourth quarter 2012 net sales were $1.52 billion, an increase of 1.6 percent
versus prior year results. 
* Core sales, which exclude the impact of changes in foreign currency
translation, grew 2.2 percent.

* Normalized diluted earnings per share were $0.43 compared with $0.40 in the
prior year period; reported diluted earnings per share were $0.35 compared with
$0.27 in the year-ago period.

* Operating cash flow in the quarter was $261.3 million. Full year 2012
operating cash flow was $618.5 million, an improvement of $57.2 million versus
prior year. 
* The company returned $67.8 million to shareholders in the fourth quarter
through dividends of $43.5 million and the repurchase of 1.1 million shares at a
cost of $24.3 million. 
* The company strengthened its balance sheet and reduced ongoing interest
expense through the early repayment of $500 million in 5.5% notes due April
2013. The debt was refinanced through the issuance of $350 million in 2.05%
notes due 2017, cash on hand and short-term borrowings. 
* The company provided 2013 guidance for core sales growth in a range from 2 to
4 percent, normalized operating margin improvement of up to 20 basis points,
normalized earnings per share of $1.78 to $1.84 and operating cash flow of $575
to $625 million, which includes an incremental pension plan contribution of $50
million.

Fourth Quarter 2012 Operating Results

Net sales in the fourth quarter were $1.52 billion, an increase of 1.6 percent
compared with the prior year. Core sales, which exclude 60 basis points of
adverse foreign currency translation, grew 2.2 percent. Sales growth was largely
attributable to the Tools, Baby & Parenting and Writing segments and to robust
growth in Latin America. 

As expected, gross margin of 36.5 percent represented a decline of 70 basis
points versus prior year. Normalized gross margin decreased 50 basis points
versus prior year to 36.7 percent as the company made incremental investments in
customer programs associated with fourth quarter events and stronger 2013 new
item sell-in. 

Operating margin for the quarter was 10.1 percent, an increase of 170 basis
points compared to the prior year. Normalized operating margin was 11.7 percent,
a decrease of 10 basis points to the prior year. Lower structural SG&A costs
reflecting the benefits of Project Renewal initiatives were offset by higher
incentive compensation, customer programs and strategic SG&A spending on sales
force expansion in Tools and Commercial Products in Latin America and Rubbermaid
Healthcare in North America, and on increased advertising and promotion expenses
in Writing. 

Fourth quarter reported operating income was $153.8 million versus $125.5
million in the prior year period, and normalized operating income was $177.8
million compared with $176.8 million in the prior year period. Fourth quarter
normalized operating income excludes $24.0 million of restructuring and
restructuring-related costs incurred primarily in connection with Project
Renewal and the European Transformation Plan. In 2011, normalized operating
income excluded $49.4 million of restructuring and restructuring-related costs
incurred in connection with the European Transformation Plan and Project Renewal
and $1.9 million in incremental costs associated with the company`s CEO
transition. 

The reported tax rate for the quarter was 23.1 percent compared with 19.6
percent in the prior year. The normalized tax rate was 20.7 percent compared
with 23.0 percent in the prior year. The year-over-year change in the normalized
tax rate was primarily driven by the geographic mix of earnings and utilization
of tax attributes. 

Net income, as reported, was $101.9 million, or $0.35 per diluted share, for the
fourth quarter. This compares with $80.4 million, or $0.27 per diluted share, in
the prior year. 

Normalized earnings of $0.43 per diluted share compares with prior year
normalized results of $0.40 per diluted share. This 7.5 percent improvement was
largely driven by lower interest expense and a lower normalized tax rate. 

For the fourth quarter 2012, normalized diluted earnings per share exclude $0.06
per diluted share for restructuring and restructuring-related costs associated
with Project Renewal and the European Transformation Plan; $0.01 per diluted
share related to the extinguishment of debt; and the exclusion of $0.01 per
diluted share resulting from tax contingencies. For the fourth quarter 2011,
normalized diluted earnings per share excluded $0.12 per diluted share for
restructuring and restructuring-related costs associated with the European
Transformation Plan and Project Renewal. (A reconciliation of the "as reported"
results to "normalized" results is included below.) 

The company generated operating cash flow of $261.3 million during the fourth
quarter of 2012 compared with $281.5 million in the comparable period last year.
Capital expenditures were $47.0 million compared with $71.7 million in the prior
year.

 A reconciliation of the fourth quarter 2012 and 2011 results is as follows:        
                                                                                    
                                                  Q4 2012             Q4 2011*      
                                                                                    
 Diluted earnings per share (as reported)         $     0.35          $      0.27   
                                                                                    
 Restructuring and restructuring-related costs    $     0.06          $      0.12   
                                                                                    
 Income tax - incremental contingencies           $     0.01          $      0.00   
                                                                                    
 Loss related to the extinguishment of debt       $     0.01          $      0.00   
                                                                                    
 Normalized EPS                                   $     0.43          $      0.40   
                                                                                    
 * totals may not add due to rounding                                               
                                                                                    


Fourth Quarter 2012 Operating Segment Results

The Home Solutions segment net sales for the fourth quarter were $453.1 million,
a 0.8 percent increase compared with the prior year quarter. Core sales in the
segment increased 0.5 percent. Growth from the Rubbermaid, Calphalon, and Goody
brands was partially offset by a decline in Décor largely related to a change in
merchandising strategy at a significant retail customer. Operating income in the
Home Solutions segment was $64.8 million, or 14.3 percent of sales, as compared
with $57.2 million, or 12.7 percent of sales, in the prior year. Normalized
operating income in the Home Solutions segment was $67.7 million, or 14.9
percent of sales, compared with $57.2 million, or 12.7 percent of sales, in the
prior year. The improvements were driven by Project Renewal-related structural
SG&A cost reductions and improved productivity, which more than offset input
cost inflation. 

The Writing segment net sales for the fourth quarter were $344.5 million, a 2.0
percent increase compared with the prior year quarter. Core sales in the segment
increased 2.4 percent. The improvement was largely driven by strong growth in
Latin America attributable to the launch of Paper Mate InkJoy in that region and
share gains in North America on Paper Mate, Sharpie, and Expo. Operating income
in Writing was $55.6 million, or 16.1 percent of sales, compared with $55.5
million, or 16.4 percent of sales, in the prior year. The 30 basis point decline
was attributable to favorable mix, offset by input cost inflation and
advertising and promotion support behind the launch of Sharpie Metallics,
Sharpie`s music partnership with One Direction, and the 125th anniversary of
Parker. 

The Tools segment net sales for the fourth quarter were $209.5 million, a 3.6
percent increase compared with the prior year quarter. Core sales in the segment
increased 6.0 percent. The improved performance was driven by strong growth in
emerging markets, particularly Latin America. Operating income in the Tools
segment was $23.8 million, or 11.4 percent of sales, compared with $30.3
million, or 15.0 percent of sales, in the prior year. Improved productivity was
more than offset by unfavorable mix, inflation and ongoing investment in sales
force expansion in Latin America and an increase in customer programs. 

The Commercial Products segment net sales for the fourth quarter were $188.6
million, a 0.9 percent increase compared with the prior year quarter. Core sales
in the segment increased 1.3 percent. The improvement was primarily driven by
strong performance in North America, particularly in Rubbermaid Healthcare.
Operating income in the Commercial Products segment was $22.0 million, or 11.7
percent of sales, compared with $27.8 million, or 14.9 percent of sales, in the
prior year. Favorable productivity was more than offset by ongoing investment in
sales capabilities in emerging markets and increased merchandising investment in
North America behind the Rubbermaid Commercial Products refuse and recycling
businesses. 

The Baby & Parenting segment net sales for the fourth quarter were $186.2
million, a 4.2 percent increase compared with the prior year quarter. Core sales
in the segment increased 5.9 percent. The improvement was driven by Graco`s
strong share gains in North America and continued robust growth of Aprica in
Japan. Operating income in the Baby & Parenting segment was $12.8 million, or
6.9 percent of sales, compared with $13.5 million, or 7.6 percent of sales, in
the prior year. The operating margin decline was driven by increased investments
in advertising development and increased merchandising activity associated with
sell in of 2013 innovation. 

The Specialty segment net sales for the fourth quarter were $136.9 million, a
2.2 percent decrease compared with the prior year quarter. Core sales in the
segment decreased 1.3 percent. Growth in the Dymo Office Labeling and Endicia
businesses were offset by softness in Mimio and Shur-line. Operating income was
$20.2 million, or 14.8 percent of sales, compared with $15.3 million, or 10.9
percent of sales, in the prior year. The operating margin improvement was
attributable to Project Renewal-related cost reductions, which more than offset
input cost inflation. 

Twelve Month Results

Net sales for the twelve months ended December 31, 2012, increased 0.6 percent
to $5.90 billion, compared with $5.86 billion in the prior year. Core sales
increased 2.2 percent after excluding the 1.6 percent impact of unfavorable
foreign currency translation. Core sales growth increased 40 basis points
sequentially versus the 2011 core growth rate. 

Both reported and normalized gross margin increased 20 basis points compared
with prior year to 37.8 percent, as productivity gains and pricing more than
offset the effect of input cost inflation. 

Reported operating margin of 11.0 percent improved 660 basis points largely due
to the impact of asset impairment charges in last year`s results. Normalized
operating margin increased 10 basis points versus prior year to 12.6 percent. 

Normalized earnings were $1.70 per diluted share compared with $1.59 per diluted
share in the prior year. Net income, as reported, was $401.3 million, or $1.37
per diluted share. This compares with $125.2 million, or $0.42 per diluted
share, in the prior year. 

For the twelve months ended December 31, 2012, normalized diluted earnings per
share exclude $0.24 per diluted share for restructuring and
restructuring-related costs associated with Project Renewal and the European
Transformation Plan; income tax charges of $0.08 per diluted share attributable
to certain tax contingencies, expiration of statutes of limitation and
resolution of tax examinations; $0.02 per diluted share related to the
extinguishment of debt; and a net gain of $0.01 per diluted share from
discontinued operations primarily related to the receipt of the escrow from the
disposal of the hand torch and solder business. For the twelve months ended
December 31, 2011, normalized earnings per diluted share exclude $1.03 per
diluted share for impairment charges primarily related to goodwill write-downs;
$0.24 per diluted share for restructuring and restructuring-related costs
associated with the European Transformation Plan and Project Renewal; $0.02 per
diluted share related to the incremental costs associated with the company`s CEO
transition; $0.01 per diluted share related to the extinguishment of debt; and
benefits of $0.17 per diluted share resulting from the reversal of certain tax
contingencies due to the expiration of various statutes of limitation. In
addition, last year the company recorded a net loss from discontinued operations
of $9.4 million, or $0.03 per share, reflecting the income from discontinued
operations and loss on disposal of the hand torch and solder business, which was
excluded from normalized earnings. (A reconciliation of the "as reported"
results to "normalized" results is included below.) 

The company generated operating cash flow of $618.5 million during 2012 compared
with $561.3 million in 2011. Capital expenditures were $177.2 million compared
with $222.9 million in the prior year, principally related to lower expenditures
on SAP implementations.

 A reconciliation of the twelve months 2012 and 2011 results is as follows:                                                                   
                                                                                                                                              
                                                         2012                                                           2011*                 
                                                                                                                                              
 Diluted earnings per share (as reported)                $        1.37                                                  $        0.42         
                                                                                                                                              
 Impairment charges                                      $        0.00                                                  $        1.03         
                                                                                                                                              
 Restructuring and restructuring-related costs           $        0.24                                                  $        0.24         
                                                                                                                                              
 Discontinued operations                                 $        (0.01    )                                            $        0.03         
                                                                                                                                              
 CEO transition costs                                    $        0.00                                                  $        0.02         
                                                                                                                                              
 Income tax- discrete contingencies,                                                                                                          
 expiration of statutes of limitation and                                                                                                     
 resolution of examinations                              $        0.08                                                  $        (0.17    )   
                                                                                                                                              
 Loss related to the extinguishment of debt              $        0.02                                                  $        0.01         
                                                                                                                                              
 Normalized EPS                                          $        1.70                                                  $        1.59         
                                                                                                                                              
 * totals may not add due to rounding                                                                                                         
                                                                                                                                              


2013 Outlook

The company`s guidance and key assumptions for the full year 2013 are as
follows:

* Core sales increase of 2 to 4 percent.

* Net sales are expected to grow 1 to 3 percent 
* Currency rates are expected to decrease sales by about 100 basis points

* Normalized operating margin improvement of up to 20 basis points 
* Normalized EPS growth of 5 to 8 percent, or $1.78 to $1.84

* The company`s 2013 normalized EPS expectation excludes between $90 and $110
million of restructuring and restructuring-related costs associated with Project
Renewal. (A reconciliation to normalized results is included below.) 
* The company is on track to realize cumulative annualized cost savings of
approximately $270 to $325 million by the second quarter of 2015 related to
Project Renewal, with cumulative annualized savings of $90 to $100 million
expected by the first half of 2013. The company intends to reinvest the majority
of Project Renewal savings in the business to strengthen brand building and
selling capabilities and accelerate growth.

* Operating cash flow of between $575 and $625 million

* This operating cash flow guidance includes a U.S. pension plan contribution of
approximately $100 million, approximately $50 million higher than the 2012
contribution, and 
* restructuring and restructuring-related cash payments of approximately $70 to
$90 million.

* The company plans to fund capital expenditures of $175 to $200 million during
the year.

A reconciliation of the 2013 earnings outlook is as follows:

                                                                      
                                                      FY 2013         
                                                                      
 Diluted earnings per share                           $1.54 to $1.60  
 Restructuring and restructuring-related costs        $0.21 to $0.27  
                                                                      
 Normalized EPS                                       $1.78 to $1.84  
                                                                      


Conference Call

The company`s fourth quarter 2012 earnings conference call is scheduled for
today, February 1, 2013, at 8:30 am ET. To listen to the webcast, use the link
provided under Events & Presentations in the Investor Relations section of
Newell Rubbermaid`s Web site at www.newellrubbermaid.com. The webcast will be
recorded and made available for replay. A supporting slide presentation will be
available under Quarterly Earnings in the Investor Relations section on the
company`s Web site. 

Non-GAAP Financial Measures

This release contains non-GAAP financial measures within the meaning of
Regulation G promulgated by the Securities and Exchange Commission. Included in
this release is a reconciliation of these non-GAAP financial measures to the
most directly comparable financial measures calculated in accordance with GAAP. 

The company uses certain financial measures that are included in this press
release and the additional financial information both in explaining its results
to stockholders and the investment community and in its internal evaluation and
management of its businesses. The company`s management believes that these
measures - including those that are "non-GAAP financial measures" - and the
information they provide are useful to investors since these measures (a) permit
investors to view the company`s performance using the same tools that company
management uses to evaluate the company`s past performance, reportable business
segments and prospects for future performance and (b) determine certain elements
of management`s incentive compensation. 

The company`s management believes that core sales, as reflected in the Currency
Analysis, is useful to investors because it demonstrates the effect of foreign
currency translation on reported sales. The effect of foreign currency
translation on reported sales is determined by applying the current year and
prior year monthly exchange rates to the local currency sales amounts in the
current year period, with the difference in these two amounts being the currency
impact from last year to this year and the residual representing changes
attributable to core sales. The company`s management believes that normalized
gross margin, normalized SG&A expense and normalized operating income are useful
because they provide investors with a meaningful perspective on the current
underlying performance of the company`s core ongoing operations. The company`s
management believes that normalized earnings per share, which excludes
restructuring and restructuring-related charges and one-time events such as
losses related to the extinguishments of debt, tax benefits and charges,
impairment charges, discontinued operations and certain other items, is useful
to investors because it permits investors to better understand year-over-year
changes in underlying operating performance. The company uses both core sales
and normalized earnings per share as two of the three performance criteria in
its management cash bonus plan. 

The company determined the tax effect of the items excluded from normalized
diluted earnings per share by applying the estimated effective rate for the
applicable jurisdiction in which the pre-tax items were incurred, and for which
realization of the resulting tax benefit, if any, is expected. 

While the company believes that these non-GAAP financial measures are useful in
evaluating the company`s performance, this information should be considered as
supplemental in nature and not as a substitute for or superior to the related
financial information prepared in accordance with GAAP. Additionally, these
non-GAAP financial measures may differ from similar measures presented by other
companies. 

About Newell Rubbermaid

Newell Rubbermaid Inc., an S&P 500 company, is a global marketer of consumer and
commercial products with 2012 sales of approximately $5.9 billion and a strong
portfolio of leading brands, including Rubbermaid®, Sharpie®, Graco®,
Calphalon®, Irwin®, Lenox®, Levolor®, Paper Mate®, Dymo®, Waterman®, Parker®,
Goody®, Rubbermaid Commercial Products® and Aprica®. 

This press release and additional information about Newell Rubbermaid are
available on the company`s Web site, www.newellrubbermaid.com. 

Caution Concerning Forward-Looking Statements

Statements in this press release that are not historical in nature constitute
forward-looking statements. These forward-looking statements relate to
information or assumptions about the effects of sales, income/(loss), earnings
per share, operating income, operating margin or gross margin improvements or
declines, Project Renewal, the European Transformation Plan, capital and other
expenditures, cash flow, dividends, restructuring and restructuring-related
costs, costs and cost savings, inflation or deflation, particularly with respect
to commodities such as oil and resin, debt ratings, and management's plans,
projections and objectives for future operations and performance. These
statements are accompanied by words such as "anticipate," "expect," "project,"
"will," "believe," "estimate" and similar expressions. Actual results could
differ materially from those expressed or implied in the forward-looking
statements. Important factors that could cause actual results to differ
materially from those suggested by the forward-looking statements include, but
are not limited to, our dependence on the strength of retail, commercial and
industrial sectors of the economy in light of the continuation or escalation of
the global economic slowdown or regional sovereign debt issues; currency
fluctuations; competition with other manufacturers and distributors of consumer
products; major retailers' strong bargaining power; changes in the prices of raw
materials and sourced products and our ability to obtain raw materials and
sourced products in a timely manner from suppliers; our ability to develop
innovative new products and to develop, maintain and strengthen our end-user
brands; our ability to expeditiously close facilities and move operations while
managing foreign regulations and other impediments; our ability to successfully
implement information technology solutions throughout our organization; our
ability to improve productivity and streamline operations; changes to our credit
ratings; significant increases in the funding obligations related to our pension
plans due to declining asset values, declining interest rates or otherwise; the
imposition of tax liabilities greater than our provisions for such matters; the
risks inherent in our foreign operations and those factors listed in the
company`s most recently filed Quarterly Report on Form 10-Q and Exhibit 99.1
thereto, filed with the Securities and Exchange Commission.

 Newell Rubbermaid Inc.                                                                                               
 CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)                                                                    
 (in millions, except per share data)                                                                                 
                                                                                                                      
                                                                                                                      
                                                                                                                      
                                                  Three Months Ended December 31,                                     
                                                                                                        YOY           
                                                  2012                       2011                       % Change      
                                                                                                                      
 Net sales                                        $     1,518.8              $     1,495.2              1.6    %      
 Cost of products sold                                  963.8                      938.6                              
                                                                                                                      
 GROSS MARGIN                                           555.0                      556.6                (0.3   )%     
 % of sales                                             36.5     %                 37.2     %                         
                                                                                                                      
 Selling, general &                                                                                                   
 administrative expenses                                382.6                      393.3                (2.7   )%     
 % of sales                                             25.2     %                 26.3     %                         
                                                                                                                      
 Restructuring costs                                    18.6                       37.8                               
                                                                                                                      
 OPERATING INCOME                                       153.8                      125.5                22.5   %      
 % of sales                                             10.1     %                 8.4      %                         
                                                                                                                      
 Nonoperating expenses:                                                                                               
 Interest expense, net                                  17.4                       21.2                               
 Loss on extinguishment of debt                         4.1                        -                                  
 Other (income) expense, net                            (0.2     )                 2.7                                
                                                        21.3                       23.9                 (10.9  )%     
                                                                                                                      
 INCOME BEFORE INCOME TAXES                             132.5                      101.6                30.4   %      
 % of sales                                             8.7      %                 6.8      %                         
                                                                                                                      
 Income taxes                                           30.6                       19.9                 53.8   %      
 Effective rate                                         23.1     %                 19.6     %                         
                                                                                                                      
 NET INCOME FROM CONTINUING OPERATIONS                  101.9                      81.7                 24.7   %      
 % of sales                                             6.7      %                 5.5      %                         
                                                                                                                      
 Loss from discontinued operations, net of tax          -                          (1.3     )                         
                                                                                                                      
 NET INCOME                                       $     101.9                $     80.4                 26.7   %      
                                                        6.7      %                 5.4      %                         
                                                                                                                      
 EARNINGS PER SHARE:                                                                                                  
 Basic                                                                                                                
 Income from continuing operations                $     0.35                 $     0.28                               
 Loss from discontinued operations                      -                          -                                  
 Net income                                       $     0.35                 $     0.28                               
                                                                                                                      
 Diluted                                                                                                              
 Income from continuing operations                $     0.35                 $     0.28                               
 Loss from discontinued operations                      -                          -                                  
 Net income                                       $     0.35                 $     0.27                               
                                                                                                                      
 AVERAGE SHARES OUTSTANDING:                                                                                          
 Basic                                                  290.0                      292.0                              
 Diluted                                                293.1                      294.4                              
                                                                                                                      


 Newell Rubbermaid Inc.                                                                                                        
 CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)                                                                             
 (in millions, except per share data)                                                                                          
                                                                                                                               
                                                                                                                               
                                                                                                                               
                                                           Twelve Months Ended December 31,                                    
                                                                                                                 YOY           
                                                           2012                       2011                       % Change      
                                                                                                                               
 Net sales                                                 $     5,902.7              $     5,864.6              0.6    %      
 Cost of products sold                                           3,673.6                    3,659.4                            
                                                                                                                               
 GROSS MARGIN                                                    2,229.1                    2,205.2              1.1    %      
 % of sales                                                      37.8     %                 37.6     %                         
                                                                                                                               
 Selling, general &                                                                                                            
 administrative expenses                                         1,521.1                    1,515.3              0.4    %      
 % of sales                                                      25.8     %                 25.8     %                         
                                                                                                                               
 Impairment charges                                              -                          382.6                              
 Restructuring costs                                             56.1                       50.1                               
                                                                                                                               
 OPERATING INCOME                                                651.9                      257.2                NMF           
 % of sales                                                      11.0     %                 4.4      %                         
                                                                                                                               
 Nonoperating expenses:                                                                                                        
 Interest expense, net                                           76.1                       86.2                               
 Loss on extinguishments of debt                                 10.9                       4.8                                
 Other (income) expense, net                                     (1.0     )                 13.7                               
                                                                 86.0                       104.7                (17.9  )%     
                                                                                                                               
 INCOME BEFORE INCOME TAXES                                      565.9                      152.5                NMF           
 % of sales                                                      9.6      %                 2.6      %                         
                                                                                                                               
 Income taxes                                                    166.3                      17.9                 NMF           
 Effective rate                                                  29.4     %                 11.7     %                         
                                                                                                                               
 NET INCOME FROM CONTINUING OPERATIONS                           399.6                      134.6                NMF           
 % of sales                                                      6.8      %                 2.3      %                         
                                                                                                                               
 Income (loss) from discontinued operations, net of tax          1.7                        (9.4     )                         
                                                                                                                               
 NET INCOME                                                $     401.3                $     125.2                NMF           
                                                                 6.8      %                 2.1      %                         
                                                                                                                               
 EARNINGS PER SHARE:                                                                                                           
 Basic                                                                                                                         
 Income from continuing operations                         $     1.37                 $     0.46                               
 Income (loss) from discontinued operations                      0.01                       (0.03    )                         
 Net income                                                $     1.38                 $     0.43                               
                                                                                                                               
 Diluted                                                                                                                       
 Income from continuing operations                         $     1.36                 $     0.45                               
 Income (loss) from discontinued operations                      0.01                       (0.03    )                         
 Net income                                                $     1.37                 $     0.42                               
                                                                                                                               
 AVERAGE SHARES OUTSTANDING:                                                                                                   
 Basic                                                           291.2                      293.6                              
 Diluted                                                         293.6                      296.2                              
                                                                                                                               
                                                                                                                               
 NMF = Not meaningful                                                                                                          
                                                                                                                               


 Newell Rubbermaid Inc.                                                                                                                                                                     
 RECONCILIATION OF GAAP AND NON-GAAP INFORMATION                                                                                                                                            
 CERTAIN LINE ITEMS                                                                                                                                                                         
 (in millions, except per share data)                                                                                                                                                       
                                                                                                                                                                                            
                                               Three Months Ended December 31, 2012                                                                                                         
                                               GAAP Measure          Restructuring                  Loss on                                           Non-GAAP Measure                      
                                                                     and restructuring-             extinguishment           Non-recurring                                  Percentage      
                                               Reported              related costs (1)              of debt (2)              tax items (3)            Normalized*           of Sales        
                                                                                                                                                                                            
 Cost of products sold                         $        963.8        $        (2.6     )            $      -                 $      -                 $       961.2         63.3    %       
                                                                                                                                                                                            
 Gross margin                                  $        555.0        $        2.6                   $      -                 $      -                 $       557.6         36.7    %       
                                                                                                                                                                                            
 Selling, general & administrative expenses    $        382.6        $        (2.8     )            $      -                 $      -                 $       379.8         25.0    %       
                                                                                                                                                                                            
 Operating income                              $        153.8        $        24.0                  $      -                 $      -                 $       177.8         11.7    %       
                                                                                                                                                                                            
 Nonoperating expenses                         $        21.3         $        -                     $      (4.1   )          $      -                 $       17.2                          
                                                                                                                                                                                            
 Income before income taxes                    $        132.5        $        24.0                  $      4.1               $      -                 $       160.6                         
                                                                                                                                                                                            
 Income taxes (4)                              $        30.6         $        5.0                   $      1.5               $      (3.9   )          $       33.2                          
                                                                                                                                                                                            
 Net income                                    $        101.9        $        19.0                  $      2.6               $      3.9               $       127.4                         
                                                                                                                                                                                            
 Diluted earnings per share**                  $        0.35         $        0.06                  $      0.01              $      0.01              $       0.43                          
                                                                                                                                                                                            
                                                                                                                                                                                            
                                               Three Months Ended December 31, 2011                                                                                                         
                                               GAAP Measure          Restructuring                                                                    Non-GAAP Measure                      
                                                                     and restructuring-             Discontinued             CEO transition                                 Percentage      
                                               Reported              related costs (1)              operations (5)           costs (6)                Normalized*           of Sales        
                                                                                                                                                                                            
 Selling, general & administrative expenses    $        393.3        $        (11.6    )            $      -                 $      (1.9   )          $       379.8         25.4    %       
                                                                                                                                                                                            
 Operating income                              $        125.5        $        49.4                  $      -                 $      1.9               $       176.8         11.8    %       
                                                                                                                                                                                            
 Income before income taxes                    $        101.6        $        49.4                  $      -                 $      1.9               $       152.9                         
                                                                                                                                                                                            
 Income taxes (4)                              $        19.9         $        14.2                  $      -                 $      1.0               $       35.1                          
                                                                                                                                                                                            
 Net income from continuing operations         $        81.7         $        35.2                  $      -                 $      0.9               $       117.8                         
                                                                                                                                                                                            
 Net income                                    $        80.4         $        35.2                  $      1.3               $      0.9               $       117.8                         
                                                                                                                                                                                            
 Diluted earnings per share**                  $        0.27         $        0.12                  $      -                 $      -                 $       0.40                          
                                                                                                                                                                                            
                                                                                                                                                                                            
 * Normalized results are financial measures that are not in accordance with GAAP and exclude the above normalized adjustments. See below for a discussion of each of these adjustments.    
 **Totals may not add due to rounding.                                                                                                                                                      
                                                                                                                                                                                            
 (1) Restructuring and restructuring-related charges during the three months ended December 31, 2012 include $5.4 million of restructuring-related costs and $18.6 million of restructuring costs incurred in connection with the European Transformation Plan and Project Renewal. Restructuring and restructuring-related charges during the three months ended December 31, 2011 include $11.6 million of restructuring-related costs and $37.8 million of restructuring costs incurred in connection with the European 
 Transformation Plan and Project Renewal.                                                                                                                                                   
                                                                                                                                                                                            
 (2) Loss on extinguishment of debt of $4.1 million during the three months ended December 31, 2012 was incurred in connection with the early retirement of the April 2013 Senior Notes.    
                                                                                                                                                                                            
 (3) During the three months ended December 31, 2012, the Company incurred $3.9 million of non-recurring income tax charges resulting from tax contingencies and the expiration of various statutes of limitation. 
                                                                                                                                                                                            
 (4) The Company determined the tax effect of the items excluded from normalized results by applying the estimated effective rate for the applicable jurisdiction in which the pre-tax items were incurred, and for which realization of the resulting tax benefit, if any, is expected. 
                                                                                                                                                                                            
 (5) During the three months ended December 31, 2011, the Company recognized a $1.3 million loss in discontinued operations primarily related to the sale of the hand torch and solder business in July 2011. 
                                                                                                                                                                                            
 (6) The Company incurred incremental costs of $1.9 million during the quarter ended December 31, 2011 associated with its CEO transition.                                                  
                                                                                                                                                                                            


 Newell Rubbermaid Inc.                                                                                                                                                                                                                                                   
 RECONCILIATION OF GAAP AND NON-GAAP INFORMATION                                                                                                                                                                                                                          
 CERTAIN LINE ITEMS                                                                                                                                                                                                                                                       
 (in millions, except per share data)                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                          
                                                 Twelve Months Ended December 31, 2012                                                                                                                                                                                    
                                                 GAAP Measure          Restructuring                  Loss on                                                                       Non-GAAP Measure                                                                      
                                                                       and restructuring-             extinguishments             Non-recurring            Discontinued                                   Percentage                                                      
                                                 Reported              related costs (1)              of debt (2)                 tax items (3)            operations (4)           Normalized*           of Sales                                                        
                                                                                                                                                                                                                                                                          
 Cost of products sold                           $        3,673.6      $        (2.6     )            $       -                   $      -                 $      -                 $       3,671.0              62.2   %                                                 
                                                                                                                                                                                                                                                                          
 Gross margin                                    $        2,229.1      $        2.6                   $       -                   $      -                 $      -                 $       2,231.7              37.8   %                                                 
                                                                                                                                                                                                                                                                          
 Selling, general & administrative expenses      $        1,521.1      $        (31.9    )            $       -                   $      -                 $      -                 $       1,489.2              25.2   %                                                 
                                                                                                                                                                                                                                                                          
 Operating income                                $        651.9        $        90.6                  $       -                   $      -                 $      -                 $       742.5                12.6   %                                                 
                                                                                                                                                                                                                                                                          
 Nonoperating expenses                           $        86.0         $        -                     $       (10.9   )           $      -                 $      -                 $       75.1                                                                          
                                                                                                                                                                                                                                                                          
 Income before income taxes                      $        565.9        $        90.6                  $       10.9                $      -                 $      -                 $       667.4                                                                         
                                                                                                                                                                                                                                                                          
 Income taxes (5)                                $        166.3        $        19.9                  $       4.0                 $      (23.1  )          $      -                 $       167.1                                                                         
                                                                                                                                                                                                                                                                          
 Net income from continuing operations           $        399.6        $        70.7                  $       6.9                 $      23.1              $      -                 $       500.3                                                                         
                                                                                                                                                                                                                                                                          
 Net income                                      $        401.3        $        70.7                  $       6.9                 $      23.1              $      (1.7   )          $       500.3                                                                         
                                                                                                                                                                                                                                                                          
 Diluted earnings per share**                    $        1.37         $        0.24                  $       0.02                $      0.08              $      (0.01  )          $       1.70                                                                          
                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                          
                                                 Twelve Months Ended December 31, 2011                                                                                                                                                                                    
                                                 GAAP Measure          Restructuring                  Loss on                                                                                                                      Non-GAAP Measure                       
                                                                       and restructuring-             extinguishments             Non-recurring            Discontinued             Impairment            CEO transition                                  Percentage      
                                                 Reported              related costs (1)              of debt (2)                 tax items (3)            operations (4)           charges (6)           costs (7)                Normalized*            of Sales        
                                                                                                                                                                                                                                                                          
 Selling, general & administrative expenses      $        1,515.3      $        (37.4    )            $       -                   $      -                 $      -                 $       -             $      (6.3   )          $       1,471.6        25.1    %       
                                                                                                                                                                                                                                                                          
 Operating income                                $        257.2        $        87.5                  $       -                   $      -                 $      -                 $       382.6         $      6.3               $       733.6          12.5    %       
                                                                                                                                                                                                                                                                          
 Nonoperating expenses                           $        104.7        $        -                     $       (4.8    )           $      -                 $      -                 $       -             $      -                 $       99.9                           
                                                                                                                                                                                                                                                                          
 Income before income taxes                      $        152.5        $        87.5                  $       4.8                 $      -                 $      -                 $       382.6         $      6.3               $       633.7                          
                                                                                                                                                                                                                                                                          
 Income taxes (5)                                $        17.9         $        17.0                  $       1.7                 $      49.0              $      -                 $       76.2          $      1.0               $       162.8                          
                                                                                                                                                                                                                                                                          
 Net income from continuing operations           $        134.6        $        70.5                  $       3.1                 $      (49.0  )          $      -                 $       306.4         $      5.3               $       470.9                          
                                                                                                                                                                                                                                                                          
 Net income                                      $        125.2        $        70.5                  $       3.1                 $      (49.0  )          $      9.4               $       306.4         $      5.3               $       470.9                          
                                                                                                                                                                                                                                                                          
 Diluted earnings per share**                    $        0.42         $        0.24                  $       0.01                $      (0.17  )          $      0.03              $       1.03          $      0.02              $       1.59                           
                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                          
 * Normalized results are financial measures that are not in accordance with GAAP and exclude the above normalized adjustments. See below for a discussion of each of these adjustments.                                                                                  
 **Totals may not add due to rounding.                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                          
 (1) Restructuring and restructuring-related charges during the twelve months ended December 31, 2012 include $34.5 million of restructuring-related costs and $56.1 million of restructuring costs incurred in connection with the European Transformation Plan and Project Renewal. Restructuring and restructuring-related charges during the twelve months ended December 31, 2011 include $37.4 million of restructuring-related costs and $50.1 million of restructuring costs incurred in connection with the European 
 Transformation Plan and Project Renewal.                                                                                                                                                                                                                                 
                                                                                                                                                                                                                                                                          
 (2) Loss on extinguishments of debt of $10.9 million during the twelve months ended December 31, 2012 primarily represents the costs associated with the early retirement of the junior convertible subordinated debentures underlying the quarterly income preferred securities (QUIPS) and the April 2013 Senior Notes. Loss on extinguishments of debt of $4.8 million during the twelve months ended December 31, 2011 represents costs incurred to exchange substantially all of the remaining convertible notes issued 
 during March 2009 for shares and cash.                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                          
 (3) During the twelve months ended December 31, 2012, the Company incurred $23.1 million of non-recurring income tax charges resulting from tax contingencies and the expiration of various statutes of limitation. During the twelve months ended December 31 2011, the Company recognized $49.0 million of previously unrecognized income tax benefits primarily resulting from the expiration of various statutes of limitation. 
                                                                                                                                                                                                                                                                          
 (4) During the twelve months ended December 31, 2012 and the twelve months ended December 31, 2011, the Company recognized a $1.7 million gain and $9.4 million loss in discontinued operations, respectively, related to the sale of the hand torch and solder business in July 2011. 
                                                                                                                                                                                                                                                                          
 (5) The Company determined the tax effect of the items excluded from normalized results by applying the estimated effective rate for the applicable jurisdiction in which the pre-tax items were incurred, and for which realization of the resulting tax benefit, if any, is expected. 
                                                                                                                                                                                                                                                                          
 (6) During the twelve months ended December 31, 2011, the Company recorded asset impairment charges of $382.6 million primarily related to goodwill impairment for the Baby & Parenting and Hardware businesses.                                                         
                                                                                                                                                                                                                                                                          
 (7) The Company incurred incremental costs of $6.3 million during the twelve months ended December 31, 2011 associated with its CEO transition.                                                                                                                          
                                                                                                                                                                                                                                                                          


 Newell Rubbermaid Inc.                                                                     
 CONSOLIDATED BALANCE SHEETS (UNAUDITED)                                                    
 (in millions)                                                                              
                                                                                            
                                                      December 31,        December 31,      
 Assets:                                              2012                2011              
                                                                                            
 Cash and cash equivalents                            $        183.8      $        170.2    
 Accounts receivable, net                                      1,112.4             1,002.0  
 Inventories, net                                              696.4               699.9    
 Deferred income taxes                                         135.8               130.7    
 Prepaid expenses and other                                    142.7               145.2    
                                                                                            
 Total Current Assets                                          2,271.1             2,148.0  
                                                                                            
 Property, plant and equipment, net                            560.2               551.4    
 Goodwill                                                      2,370.2             2,366.0  
 Other intangible assets, net                                  654.1               666.1    
 Deferred income taxes                                         85.2                120.2    
 Other assets                                                  281.2               309.2    
                                                                                            
 Total Assets                                         $        6,222.0    $        6,160.9  
                                                                                            
 Liabilities and Stockholders' Equity:                                                      
                                                                                            
 Accounts payable                                     $        527.4      $        468.5    
 Accrued compensation                                          173.5               131.4    
 Other accrued liabilities                                     658.0               693.5    
 Short-term debt                                               210.7               103.6    
 Current portion of long-term debt                             1.2                 263.9    
                                                                                            
 Total Current Liabilities                                     1,570.8             1,660.9  
                                                                                            
 Long-term debt                                                1,706.5             1,809.3  
 Other noncurrent liabilities                                  944.5               838.1    
                                                                                            
 Stockholders' Equity - Parent                                 1,996.7             1,849.1  
 Stockholders' Equity - Noncontrolling Interests               3.5                 3.5      
                                                                                            
 Total Stockholders' Equity                                    2,000.2             1,852.6  
                                                                                            
 Total Liabilities and Stockholders' Equity           $        6,222.0    $        6,160.9  
                                                                                            


 Newell Rubbermaid Inc.                                                                                                                                       
 CONSOLIDATED STATEMENTS OF CASH FLOW (UNAUDITED)                                                                                                             
 (in millions)                                                                                                                                                
                                                                                                                                                              
                                                                                                         Twelve Months Ended December 31,                     
                                                                                                         2012                           2011                  
 Operating Activities:                                                                                                                                        
 Net income                                                                                              $      401.3                   $      125.2          
 Adjustments to reconcile net income to net cash provided by                                                                                                  
 operating activities:                                                                                                                                        
 Depreciation and amortization                                                                                  163.7                          161.6          
 Impairment charges                                                                                             -                              382.6          
 Loss on extinguishments of debt                                                                                10.9                           4.8            
 (Gain) loss on disposal of discontinued operations                                                             (5.2      )                    13.9           
 Non-cash restructuring costs                                                                                   0.3                            7.0            
 Deferred income taxes                                                                                          71.2                           (4.8    )      
 Stock-based compensation expense                                                                               32.9                           43.0           
 Other                                                                                                          12.0                           11.7           
 Changes in operating assets and liabilities, excluding the effects of acquisitions and divestitures:                                                         
 Accounts receivable                                                                                            (101.2    )                    (17.6   )      
 Inventories                                                                                                    7.7                            (21.5   )      
 Accounts payable                                                                                               56.3                           3.3            
 Accrued liabilities and other                                                                                  (31.4     )                    (147.9  )      
 Net cash provided by operating activities                                                               $      618.5                   $      561.3          
                                                                                                                                                              
 Investing Activities:                                                                                                                                        
 Acquisitions and acquisition-related activity                                                           $      (26.5     )             $      (20.0   )      
 Capital expenditures                                                                                           (177.2    )                    (222.9  )      
 Proceeds from sales of noncurrent assets                                                                       43.5                           44.3           
 Other                                                                                                          (2.8      )                    (7.8    )      
 Net cash used in investing activities                                                                   $      (163.0    )             $      (206.4  )      
                                                                                                                                                              
 Financing Activities:                                                                                                                                        
 Net short-term borrowings                                                                               $      106.0                   $      (34.4   )      
 Proceeds from issuance of debt, net of debt issuance costs                                                     841.9                          3.3            
 Payments on and for the settlement of notes payable and debt                                                   (1,203.4  )                    (151.0  )      
 Cash consideration paid to exchange convertible notes                                                          -                              (3.1    )      
 Repurchase and retirement of shares of common stock                                                            (91.5     )                    (46.1   )      
 Cash dividends                                                                                                 (125.9    )                    (84.9   )      
 Excess tax benefits related to stock-based compensation                                                        12.7                           -              
 Other, net                                                                                                     14.2                           (8.4    )      
 Net cash used in financing activities                                                                   $      (446.0    )             $      (324.6  )      
                                                                                                                                                              
 Currency rate effect on cash and cash equivalents                                                       $      4.1                     $      0.3            
                                                                                                                                                              
 Increase in cash and cash equivalents                                                                   $      13.6                    $      30.6           
 Cash and cash equivalents at beginning of year                                                                 170.2                          139.6          
 Cash and cash equivalents at end of year                                                                $      183.8                   $      170.2          
                                                                                                                                                              


 Newell Rubbermaid Inc.                                                                                                                                                                                                                                                                        
 Financial Worksheet- Segment Reporting                                                                                                                                                                                                                                                        
 (In Millions)                                                                                                                                                                                                                                                                                 
                                                                                                                                                                                                                                                                                               
                        2012                                                                                             2011                                                                                                                                                                  
                                           Reconciliation (1)                                                                               Reconciliation (1)                                                              Year-over-year changes                                             
                                           Reported              Excluded          Normalized            Operating                          Reported               Excluded           Normalized            Operating       Net Sales                        Normalized OI                     
                        Net Sales          OI                    Items             OI                    Margin          Net Sales          OI                     Items              OI                    Margin          $                  %             $                     %           
 Q1:                                                                                                                                                                                                                                                                                           
 Home Solutions         $      349.5       $    35.5             $      -          $     35.5            10.2   %        $      383.9       $    49.2              $      -           $     49.2            12.8   %        $   (34.4  )       (9.0  )%      $    (13.7  )         (27.8  )%   
 Writing                       290.1            40.0                    -                40.0            13.8   %               272.5            41.6                     -                 41.6            15.3   %            17.6           6.5   %            (1.6   )         (3.8   )%   
 Tools                         190.6            28.7                    -                28.7            15.1   %               168.4            23.6                     -                 23.6            14.0   %            22.2           13.2  %            5.1              21.6   %    
 Commercial Products           175.4            18.6                    -                18.6            10.6   %               166.5            20.8                     -                 20.8            12.5   %            8.9            5.3   %            (2.2   )         (10.6  )%   
 Baby & Parenting              182.2            22.4                    -                22.4            12.3   %               150.3            7.4                      -                 7.4             4.9    %            31.9           21.2  %            15.0             202.7  %    
 Specialty                     144.6            23.4                    -                23.4            16.2   %               132.6            15.7                     -                 15.7            11.8   %            12.0           9.0   %            7.7              49.0   %    
 Restructuring Costs           -                (12.7   )               12.7             -                                      -                (5.8    )                5.8               -                                   -                                 -                            
 Corporate                     -                (31.7   )               10.0             (21.7  )                               -                (24.5   )                5.3               (19.2  )                            -                                 (2.5   )         (13.0  )%   
 Total                  $      1,332.4     $    124.2            $      22.7       $     146.9           11.0   %        $      1,274.2     $    128.0             $      11.1        $     139.1           10.9   %        $   58.2           4.6   %       $    7.8              5.6    %    
                                                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                                                               
                        2012                                                                                             2011                                                                                                                                                                  
                                           Reconciliation (1)                                                                               Reconciliation (1)                                                              Year-over-year changes                                             
                                           Reported              Excluded          Normalized            Operating                          Reported               Excluded           Normalized            Operating       Net Sales                        Normalized OI                     
                        Net Sales          OI                    Items             OI                    Margin          Net Sales          OI                     Items              OI                    Margin          $                  %             $                     %           
 Q2:                                                                                                                                                                                                                                                                                           
 Home Solutions         $      414.0       $    47.6             $      -          $     47.6            11.5   %        $      426.1       $    51.6              $      -           $     51.6            12.1   %        $   (12.1  )       (2.8  )%      $    (4.0   )         (7.8   )%   
 Writing                       394.4            98.0                    -                98.0            24.8   %               407.7            91.9                     -                 91.9            22.5   %            (13.3  )       (3.3  )%           6.1              6.6    %    
 Tools                         202.4            30.5                    -                30.5            15.1   %               200.2            30.6                     -                 30.6            15.3   %            2.2            1.1   %            (0.1   )         (0.3   )%   
 Commercial Products           190.1            21.1                    -                21.1            11.1   %               194.7            30.1                     -                 30.1            15.5   %            (4.6   )       (2.4  )%           (9.0   )         (29.9  )%   
 Baby & Parenting              182.4            19.2                    -                19.2            10.5   %               175.2            13.0                     -                 13.0            7.4    %            7.2            4.1   %            6.2              47.7   %    
 Specialty                     132.9            12.0                    -                12.0            9.0    %               141.4            8.9                      -                 8.9             6.3    %            (8.5   )       (6.0  )%           3.1              34.8   %    
 Restructuring Costs           -                (11.1   )               11.1             -                                      -                (1.0    )                1.0               -                                   -                                 -                            
 Corporate                     -                (31.8   )               10.5             (21.3  )                               -                (29.2   )                9.0               (20.2  )                            -                                 (1.1   )         (5.4   )%   
 Total                  $      1,516.2     $    185.5            $      21.6       $     207.1           13.7   %        $      1,545.3     $    195.9             $      10.0        $     205.9           13.3   %        $   (29.1  )       (1.9  )%      $    1.2              0.6    %    
                                                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                                                               
                        2012                                                                                             2011                                                                                                                                                                  
                                           Reconciliation (1)                                                                               Reconciliation (1,2)                                                            Year-over-year changes                                             
                                           Reported              Excluded          Normalized            Operating                          Reported               Excluded           Normalized            Operating       Net Sales                        Normalized OI                     
                        Net Sales          OI                    Items             OI                    Margin          Net Sales          OI                     Items              OI                    Margin          $                  %             $                     %           
 Q3:                                                                                                                                                                                                                                                                                           
 Home Solutions         $      427.4       $    69.6             $      2.0        $     71.6            16.8   %        $      450.6            70.9              $      -           $     70.9            15.7   %        $   (23.2  )       (5.1  )%      $    0.7              1.0    %    
 Writing                       387.2            68.3                    1.2              69.5            17.9   %               381.5            57.9                     -                 57.9            15.2   %            5.7            1.5   %            11.6             20.0   %    
 Tools                         203.6            26.8                    -                26.8            13.2   %               208.7            34.6                     -                 34.6            16.6   %            (5.1   )       (2.4  )%           (7.8   )         (22.5  )%   
 Commercial Products           205.6            31.2                    -                31.2            15.2   %               193.3            29.6                     -                 29.6            15.3   %            12.3           6.4   %            1.6              5.4    %    
 Baby & Parenting              185.3            18.3                    -                18.3            9.9    %               176.2            17.7                     -                 17.7            10.0   %            9.1            5.2   %            0.6              3.4    %    
 Specialty                     126.2            12.6                    -                12.6            10.0   %               139.6            20.3                     -                 20.3            14.5   %            (13.4  )       (9.6  )%           (7.7   )         (37.9  )%   
 Impairment Charges            -                -                       -                -                                      -                (382.6  )                382.6             -                                   -                                 -                            
 Restructuring Costs           -                (13.7   )               13.7             -                                      -                (5.5    )                5.5               -                                   -                                 -                            
 Corporate                     -                (24.7   )               5.4              (19.3  )                               -                (35.1   )                15.9              (19.2  )                            -                                 (0.1   )         (0.5   )%   
 Total                  $      1,535.3     $    188.4            $      22.3       $     210.7           13.7   %        $      1,549.9     $    (192.2  )         $      404.0       $     211.8           13.7   %        $   (14.6  )       (0.9  )%      $    (1.1   )         (0.5   )%   
                                                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                                                               
                        2012                                                                                             2011                                                                                                                                                                  
                                           Reconciliation (1)                                                                               Reconciliation (1)                                                              Year-over-year changes                                             
                                           Reported              Excluded          Normalized            Operating                          Reported               Excluded           Normalized            Operating       Net Sales                        Normalized OI                     
                        Net Sales          OI                    Items             OI                    Margin          Net Sales          OI                     Items              OI                    Margin          $                  %             $                     %           
 Q4:                                                                                                                                                                                                                                                                                           
 Home Solutions         $      453.1       $    64.8             $      2.9        $     67.7            14.9   %        $      449.6       $    57.2              $      -           $     57.2            12.7   %        $   3.5            0.8   %       $    10.5             18.4   %    
 Writing                       344.5            55.6                    -                55.6            16.1   %               337.6            55.5                     -                 55.5            16.4   %            6.9            2.0   %            0.1              0.2    %    
 Tools                         209.5            23.8                    -                23.8            11.4   %               202.3            30.3                     -                 30.3            15.0   %            7.2            3.6   %            (6.5   )         (21.5  )%   
 Commercial Products           188.6            22.0                    -                22.0            11.7   %               187.0            27.8                     -                 27.8            14.9   %            1.6            0.9   %            (5.8   )         (20.9  )%   
 Baby & Parenting              186.2            12.8                    -                12.8            6.9    %               178.7            13.5                     -                 13.5            7.6    %            7.5            4.2   %            (0.7   )         (5.2   )%   
 Specialty                     136.9            20.2                    -                20.2            14.8   %               140.0            15.3                     -                 15.3            10.9   %            (3.1   )       (2.2  )%           4.9              32.0   %    
 Restructuring Costs           -                (18.6   )               18.6             -                                      -                (37.8   )                37.8              -                                   -                                 -                            
 Corporate                     -                (26.8   )               2.5              (24.3  )                               -                (36.3   )                13.5              (22.8  )                            -                                 (1.5   )         (6.6   )%   
 Total                  $      1,518.8     $    153.8            $      24.0       $     177.8           11.7   %        $      1,495.2     $    125.5             $      51.3        $     176.8           11.8   %        $   23.6           1.6   %       $    1.0              0.6    %    
                                                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                                                               
                        2012                                                                                             2011                                                                                                                                                                  
                                           Reconciliation (1)                                                                               Reconciliation (1,2)                                                            Year-over-year changes                                             
                                           Reported              Excluded          Normalized            Operating                          Reported               Excluded           Normalized            Operating       Net Sales                        Normalized OI                     
                        Net Sales          OI                    Items             OI                    Margin          Net Sales          OI                     Items              OI                    Margin          $                  %             $                     %           
 YE:                                                                                                                                                                                                                                                                                           
 Home Solutions         $      1,644.0     $    217.5            $      4.9        $     222.4           13.5   %        $      1,710.2     $    228.9             $      -           $     228.9           13.4   %        $   (66.2  )       (3.9  )%      $    (6.5   )         (2.8   )%   
 Writing                       1,416.2          261.9                   1.2              263.1           18.6   %               1,399.3          246.9                    -                 246.9           17.6   %            16.9           1.2   %            16.2             6.6    %    
 Tools                         806.1            109.8                   -                109.8           13.6   %               779.6            119.1                    -                 119.1           15.3   %            26.5           3.4   %            (9.3   )         (7.8   )%   
 Commercial Products           759.7            92.9                    -                92.9            12.2   %               741.5            108.3                    -                 108.3           14.6   %            18.2           2.5   %            (15.4  )         (14.2  )%   
 Baby & Parenting              736.1            72.7                    -                72.7            9.9    %               680.4            51.6                     -                 51.6            7.6    %            55.7           8.2   %            21.1             40.9   %    
 Specialty                     540.6            68.2                    -                68.2            12.6   %               553.6            60.2                     -                 60.2            10.9   %            (13.0  )       (2.3  )%           8.0              13.3   %    
 Impairment Charges            -                -                       -                -                                      -                (382.6  )                382.6             -                                   -                                 -                            
 Restructuring Costs           -                (56.1   )               56.1             -                                      -                (50.1   )                50.1              -                                   -                                 -                            
 Corporate                     -                (115.0  )               28.4             (86.6  )                               -                (125.1  )                43.7              (81.4  )                            -                                 (5.2   )         (6.4   )%   
 Total                  $      5,902.7     $    651.9            $      90.6       $     742.5           12.6   %        $      5,864.6     $    257.2             $      476.4       $     733.6           12.5   %        $   38.1           0.6   %       $    8.9              1.2    %    
                                                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                                                               
 (1) Excluded items consist of restructuring-related and restructuring costs. Restructuring-related and restructuring costs of $34.5 million and $56.1 million, respectively, incurred during the 2012 periods relate to the European Transformation Plan and Project Renewal. For 2011, restructuring-related and restructuring costs of $37.4 million and $50.1 million, respectively, relate to the European Transformation Plan and Project Renewal. Additionally, Normalized operating income for the twelve months ended 
 December 31, 2011 excludes incremental SG&A costs of $6.3 million resulting from the CEO transition during 2011.                                                                                                                                                                              
                                                                                                                                                                                                                                                                                               
 (2) Normalized operating income for the three months ended September 30, 2011 and twelve months ended December 31, 2011 exclude impairment charges of $382.6 million relating primarily to the impairment of goodwill for the Baby & Parenting and Hardware businesses.                       
                                                                                                                                                                                                                                                                                               


 Newell Rubbermaid Inc.                                                                                                                                                   
 Three Months Ended December 31, 2012                                                                                                                                     
 In Millions                                                                                                                                                              
                                                                                                                                                                          
 Currency Analysis                                                                                                                                                        
                                                                                                                                                                          
                                                                                                                                                                          
 By Segment                                                                                                                                                               
                                                                                                                                                                          
                                   2012                                                    2011              Year-Over-Year Increase (Decrease)                           
                                   Sales as           Currency           Core              Sales as          Excluding                  Including           Currency      
                                   Reported           Impact             Sales (1)         Reported          Currency                   Currency            Impact        
                                                                                                                                                                          
 Home Solutions                    $      453.1       $    (1.4  )       $      451.7      $      449.6      0.5      %                 0.8      %          0.3    %      
 Writing                                  344.5            1.1                  345.6             337.6      2.4      %                 2.0      %          (0.4   )%     
 Tools                                    209.5            5.0                  214.5             202.3      6.0      %                 3.6      %          (2.4   )%     
 Commercial Products                      188.6            0.8                  189.4             187.0      1.3      %                 0.9      %          (0.4   )%     
 Baby & Parenting                         186.2            3.1                  189.3             178.7      5.9      %                 4.2      %          (1.7   )%     
 Specialty                                136.9            1.3                  138.2             140.0      (1.3     )%                (2.2     )%         (0.9   )%     
                                                                                                                                                                          
 Total Company                     $      1,518.8     $    9.9           $      1,528.7    $      1,495.2    2.2      %                 1.6      %          (0.6   )%     
                                                                                                                                                                          
                                                                                                                                                                          
 By Geography                                                                                                                                                             
                                                                                                                                                                          
 United States                     $      1,022.8     $    -             $      1,022.8    $      1,000.6    2.2      %                 2.2      %          0.0    %      
 Canada                                   96.3             (2.6  )              93.7              91.6       2.3      %                 5.1      %          2.8    %      
 Total North America                      1,119.1          (2.6  )              1,116.5           1,092.2    2.2      %                 2.5      %          0.3    %      
                                                                                                                                                                          
 Europe, Middle East and Africa           181.2            8.1                  189.3             198.1      (4.4     )%                (8.5     )%         (4.1   )%     
 Latin America                            93.6             3.5                  97.1              80.2       21.1     %                 16.7     %          (4.4   )%     
 Asia Pacific                             124.9            0.9                  125.8             124.7      0.9      %                 0.2      %          (0.7   )%     
 Total International                      399.7            12.5                 412.2             403.0      2.3      %                 (0.8     )%         (3.1   )%     
                                                                                                                                                                          
 Total Company                     $      1,518.8     $    9.9           $      1,528.7    $      1,495.2    2.2      %                 1.6      %          (0.6   )%     
                                                                                                                                                                          
                                                                                                                                                                          
 (1)- "Core Sales" is determined by applying the prior year monthly exchange rates to the current year local currency monthly sales amounts, with the difference in the current year reported sales and Core Sales representing changes attributable to foreign currency translation, reported in the table as "Currency Impact". 


 Newell Rubbermaid Inc.                                                                                                                                                    
 Twelve Months Ended December 31, 2012                                                                                                                                     
 In Millions                                                                                                                                                               
                                                                                                                                                                           
 Currency Analysis                                                                                                                                                         
                                                                                                                                                                           
                                                                                                                                                                           
 By Segment                                                                                                                                                                
                                                                                                                                                                           
                                   2012                                                  2011 (1)             Year-Over-Year (Decrease) Increase                           
                                   Sales as           Currency         Core              Sales as             Excluding                  Including           Currency      
                                   Reported           Impact           Sales (2)         Reported             Currency                   Currency            Impact        
                                                                                                                                                                           
 Home Solutions                    $      1,644.0     $      5.0       $      1,649.0    $    1,710.2         (3.6     )%                (3.9     )%         (0.3   )%     
 Writing                                  1,416.2            27.3             1,443.5         1,399.3         3.2      %                 1.2      %          (2.0   )%     
 Tools                                    806.1              28.3             834.4           779.6           7.0      %                 3.4      %          (3.6   )%     
 Commercial Products                      759.7              8.6              768.3           741.5           3.6      %                 2.5      %          (1.1   )%     
 Baby & Parenting                         736.1              11.1             747.2           680.4           9.8      %                 8.2      %          (1.6   )%     
 Specialty                                540.6              10.8             551.4           553.6           (0.4     )%                (2.3     )%         (1.9   )%     
                                                                                                                                                                           
 Total Company                     $      5,902.7     $      91.1      $      5,993.8    $    5,864.6         2.2      %                 0.6      %          (1.6   )%     
                                                                                                                                                                           
                                                                                                                                                                           
 By Geography                                                                                                                                                              
                                                                                                                                                                           
 United States                     $      4,004.5     $      -         $      4,004.5    $    3,915.7         2.3      %                 2.3      %          0.0    %      
 Canada                                   358.8              6.0              364.8           376.3           (3.1     )%                (4.7     )%         (1.6   )%     
 Total North America                      4,363.3            6.0              4,369.3         4,292.0         1.8      %                 1.7      %          (0.1   )%     
                                                                                                                                                                           
 Europe, Middle East and Africa           718.4              58.8             777.2           815.3           (4.7     )%                (11.9    )%         (7.2   )%     
 Latin America                            338.9              26.2             365.1           318.6           14.6     %                 6.4      %          (8.2   )%     
 Asia Pacific                             482.1              0.1              482.2           438.7           9.9      %                 9.9      %          0.0    %      
 Total International                      1,539.4            85.1             1,624.5         1,572.6         3.3      %                 (2.1     )%         (5.4   )%     
                                                                                                                                                                           
 Total Company                     $      5,902.7     $      91.1      $      5,993.8    $    5,864.6         2.2      %                 0.6      %          (1.6   )%     
                                                                                                                                                                           
 (1)- 2011 results have been adjusted to reclassify the results of operations of the hand torch and solder business to discontinued operations.                            
                                                                                                                                                                           
 (2)- "Core Sales" is determined by applying the prior year monthly exchange rates to the current year local currency monthly sales amounts, with the difference in the current year reported sales and Core Sales representing changes attributable to foreign currency translation, reported in the table as "Currency Impact". 


Newell Rubbermaid Inc.
Nancy O`Donnell, +1 (770) 418-7723
Vice President, Investor Relations
or
David Doolittle, +1 (770) 418-7519
Vice President, Corporate Communications 

Copyright Business Wire 2013

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