EX-12 5 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES. Computation of Ratio of Earnings to Fixed Charges.

EXHIBIT 12

 

BRIGGS & STRATTON CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands)

 

     Fiscal Year Ended

 
     June 29, 2003

    June 30, 2002

    July 1, 2001

    July 2, 2000

    June 27, 1999

 

Earnings

                                        

Income before income taxes

   $ 118,578     $ 80,510     $ 71,873     $ 216,623     $ 169,771  

Less:  Equity income from equity investees

     (5,224 )     (6,181 )     (5,041 )     (13,333 )     (5,275 )

Add:  Fixed charges

     42,483       46,448       31,374       21,765       17,483  

Distributed income of equity investees

     4,080       2,426       2,933       2,641       1,205  
    


 


 


 


 


Earnings as defined

   $ 159,917     $ 123,203     $ 101,139     $ 227,696     $ 183,184  
    


 


 


 


 


Fixed Charges

                                        

Interest expense

   $ 38,380     $ 42,305     $ 29,268     $ 19,699     $ 15,555  

Amortization of discounts related to indebtedness

     782       888       251       205       205  

Imputed interest on deferred revenue

     1,227       1,240       1,146       1,363       1,264  
    


 


 


 


 


Interest expense as reported

     40,389       44,433       30,665       21,267       17,024  

Amortization of deferred financing fees

     1,519       1,420       133       —         —    

Portion of rent expense relating to interest

     575       595       576       498       459  
    


 


 


 


 


Fixed charges as defined

   $ 42,483     $ 46,448     $ 31,374     $ 21,765     $ 17,483  
    


 


 


 


 


Ratio of earnings to fixed charges

     3.8 x     2.7 x     3.2 x     10.5 x     10.5 x