EX-12 3 a07-22871_1ex12.htm EX-12

EXHIBIT 12

BRIGGS & STRATTON CORPORATION AND SUBSIDIARIES

2007Annual Report on Form 10-K

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands)

 

 

Fiscal Year Ended

 

 

 

July 1, 2007

 

July 2, 2006

 

July 3, 2005

 

June 27, 2004

 

29-Jun-03

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

(7,319

)

$

152,366

 

$

174,315

 

$

205,004

 

$

118,578

 

Less: Equity income from equity investees

 

(3,303

)

(4,174

)

(5,336

)

(7,876

)

(5,224

)

Add:  Fixed charges

 

46,592

 

45,248

 

39,232

 

42,166

 

42,483

 

Distributed income of equity investees

 

4,879

 

4,632

 

5,967

 

4,392

 

4,080

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings as defined

 

$

40,849

 

$

198,072

 

$

214,178

 

$

243,686

 

$

159,917

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

42,932

 

$

40,085

 

$

34,929

 

$

35,694

 

$

38,380

 

Amortization of discounts related to indebtedness

 

759

 

829

 

758

 

758

 

782

 

Imputed interest on deferred revenue

 

—

 

1,177

 

1,196

 

1,213

 

1,227

 

Interest expense as reported

 

43,691

 

42,091

 

36,883

 

37,665

 

40,389

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of deferred financing fees

 

1,173

 

1,708

 

1,233

 

3,778

 

1,519

 

Portion of rent expense relating to interest

 

1,728

 

1,449

 

1,116

 

723

 

575

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges as defined

 

$

46,592

 

$

45,248

 

$

39,232

 

$

42,166

 

$

42,483

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

0.9

x

4.4

x

5.5

x

5.8

x

3.8

x