EX-12 4 ex-12xbggx712018.htm EXHIBIT 12 Exhibit


Exhibit 12
BRIGGS & STRATTON CORPORATION AND SUBSIDIARIES
2018 ANNUAL REPORT ON FORM 10-K
COMPUTATION OF RATIO OF EARNINGS (LOSSES) TO FIXED CHARGES
(in thousands)

 
 
 
 
 
 
 
 
 
 
 
Fiscal Year Ended
 
July 1, 2018

 
July 2, 2017

 
July 3, 2016

 
June 28, 2015

 
June 29, 2014

Earnings (Loss)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (Loss) before income taxes
$
11,101

 
$
79,661

 
$
35,356

 
$
56,958

 
$
37,134

Less: Equity income from equity investees
(9,257
)
 
(11,056
)
 
(4,947
)
 
(7,303
)
 
(6,264
)
Add: Fixed Charges
27,422

 
22,291

 
22,154

 
21,714

 
20,911

Add: Distributed income of equity investees
10,911

 
9,067

 
6,119

 
4,628

 
4,070

Earnings (Loss) as defined
$
40,177

 
$
99,963

 
$
58,682

 
$
75,997

 
$
55,851

 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
25,320

 
$
20,293

 
$
20,033

 
$
19,532

 
$
18,466

Interest expense as reported
25,320

 
20,293

 
20,033

 
19,532

 
18,466

 
 
 
 
 
 
 
 
 
 
Amortization of debt issuance costs
917

 
855

 
929

 
957

 
988

Portion of rent expense relating to interest
1,185

 
1,143

 
1,192

 
1,225

 
1,457

Fixed charges as defined
$
27,422

 
$
22,291

 
$
22,154

 
$
21,714

 
$
20,911

 
 
 
 
 
 
 
 
 
 
Ratio of earnings (loss) to fixed charges
1.5x

 
4.5x

 
2.6x

 
3.5x

 
2.7x

 
 
 
 
 
 
 
 
 
 
Coverage deficiency
$
—

 
$
—

 
$
—

 
$
—

 
$
—