EX-12 2 ex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EX12


Exhibit 12
BRIGGS & STRATTON CORPORATION AND SUBSIDIARIES
2012 ANNUAL REPORT ON FORM 10-K
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)

 
 
 
 
 
 
 
 
 
 
 
Fiscal Year Ended
 
July 1, 2012

 
July 3, 2011

 
June 27, 2010

 
June 28, 2009

 
June 29, 2008

Earnings
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
$
29,873

 
$
32,054

 
$
49,073

 
$
40,409

 
$
29,609

Less: Equity income from equity investees
(5,100
)
 
(5,082
)
 
(4,071
)
 
(1,527
)
 
(3,588
)
Add: Fixed Charges
21,317

 
25,942

 
29,520

 
34,010

 
41,337

Add: Distributed income of equity investees
4,029

 
6,980

 
4,005

 
5,212

 
2,800

 
 
 
 
 
 
 
 
 
 
Earnings as defined
$
50,119

 
$
59,894

 
$
78,527

 
$
78,104

 
$
70,158

 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
18,542

 
$
23,014

 
$
25,573

 
$
30,521

 
$
37,554

Amortization of discounts related to indebtedness
—

 
304

 
896

 
626

 
569

Interest expense as reported
18,542

 
23,318

 
26,469

 
31,147

 
38,123

 
 
 
 
 
 
 
 
 
 
Amortization of debt issuance costs
1,209

 
934

 
1,250

 
1,331

 
1,414

Portion of rent expense relating to interest
1,566

 
1,690

 
1,801

 
1,532

 
1,800

Fixed charges as defined
$
21,317

 
$
25,942

 
$
29,520

 
$
34,010

 
$
41,337

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
2.4x

 
2.3x

 
2.7x

 
2.3x

 
1.7x