EX-12 7 a05-16220_1ex12.htm EX-12

EXHIBIT 12

 

BRIGGS & STRATTON CORPORATION AND SUBSIDIARIES

 

2005 Annual Report on Form 10-K

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands)

 

 

 

Fiscal Year Ended

 

 

 

July 3, 2005

 

June 27, 2004

 

June 29, 2003

 

June 30, 2002

 

July 1, 2001

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

174,315

 

$

205,004

 

$

118,578

 

$

80,510

 

$

71,873

 

Less:

Equity income from equity investees

 

(5,336

)

(7,876

)

(5,224

)

(6,181

)

(5,041

)

Add:

Fixed charges

 

39,232

 

42,166

 

42,483

 

46,448

 

31,374

 

 

Distributed income of equity investees

 

5,967

 

4,392

 

4,080

 

2,426

 

2,933

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings as defined

 

$

214,178

 

$

243,686

 

$

159,917

 

$

123,203

 

$

101,139

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

34,929

 

$

35,694

 

$

38,380

 

$

42,305

 

$

29,268

 

Amortization of discounts related to indebtedness

 

758

 

758

 

782

 

888

 

251

 

Imputed interest on deferred revenue

 

1,196

 

1,213

 

1,227

 

1,240

 

1,146

 

 

Interest expense as reported

 

36,883

 

37,665

 

40,389

 

44,433

 

30,665

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of deferred financing fees

 

1,233

 

3,778

 

1,519

 

1,420

 

133

 

Portion of rent expense relating to interest

 

1,116

 

723

 

575

 

595

 

576

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges as defined

 

$

39,232

 

$

42,166

 

$

42,483

 

$

46,448

 

$

31,374

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

5.5

 

5.8

x

3.8

x

2.7

x

3.2

x