EX-12 4 ex-12xbggx6302019.htm EXHIBIT 12 Exhibit


Exhibit 12
BRIGGS & STRATTON CORPORATION AND SUBSIDIARIES
2019 ANNUAL REPORT ON FORM 10-K
COMPUTATION OF RATIO OF EARNINGS (LOSSES) TO FIXED CHARGES
(in thousands)

 
 
 
 
 
 
 
 
 
 
 
Fiscal Year Ended
 
June 30, 2019

 
July 1, 2018

 
July 2, 2017

 
July 3, 2016

 
June 28, 2015

Earnings (Loss)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (Loss) before income taxes
$
(54,083
)
 
$
11,101

 
$
79,661

 
$
35,356

 
$
56,958

Less: Equity income from equity investees
(9,029
)
 
(9,257
)
 
(11,056
)
 
(4,947
)
 
(7,303
)
Add: Fixed Charges
31,338

 
27,422

 
22,291

 
22,154

 
21,714

Add: Distributed income of equity investees
11,359

 
10,911

 
9,067

 
6,119

 
4,628

Earnings (Loss) as defined
$
(20,415
)
 
$
40,177

 
$
99,963

 
$
58,682

 
$
75,997

 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
29,242

 
$
25,320

 
$
20,293

 
$
20,033

 
$
19,532

Interest expense as reported
29,242

 
25,320

 
20,293

 
20,033

 
19,532

 
 
 
 
 
 
 
 
 
 
Amortization of debt issuance costs
769

 
917

 
855

 
929

 
957

Portion of rent expense relating to interest
1,327

 
1,185

 
1,143

 
1,192

 
1,225

Fixed charges as defined
$
31,338

 
$
27,422

 
$
22,291

 
$
22,154

 
$
21,714

 
 
 
 
 
 
 
 
 
 
Ratio of earnings (loss) to fixed charges
(0.7x)

 
1.5x

 
4.5x

 
2.6x

 
3.5x

 
 
 
 
 
 
 
 
 
 
Coverage deficiency
$
10,923

 
$
—

 
$
—

 
$
—

 
$
—