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

BRIGGS & STRATTON CORPORATION AND SUBSIDIARIES

 

2004 Annual Report on Form 10-K

 

EXHIBIT 12

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands)

 

     Fiscal Year Ended

 
     June 27, 2004

    June 29, 2003

    June 30, 2002

    July 1, 2001

    July 2, 2000

 

Earnings

                                        

Income before income taxes

   $ 205,004     $ 118,578     $ 80,510     $ 71,873     $ 216,623  

Less: Equity income from equity investees

     (7,876 )     (5,224 )     (6,181 )     (5,041 )     (13,333 )

Add: Fixed charges

     42,166       42,483       46,448       31,374       21,765  

Distributed income of equity investees

     4,392       4,080       2,426       2,933       2,641  
    


 


 


 


 


Earnings as defined

   $ 243,686     $ 159,917     $ 123,203     $ 101,139     $ 227,696  
    


 


 


 


 


Fixed Charges

                                        

Interest expense

   $ 35,694     $ 38,380     $ 42,305     $ 29,268     $ 19,699  

Amortization of discounts related to indebtedness

     758       782       888       251       205  

Imputed interest on deferred revenue

     1,213       1,227       1,240       1,146       1,363  
    


 


 


 


 


Interest expense as reported

     37,665       40,389       44,433       30,665       21,267  

Amortization of deferred financing fees

     3,778       1,519       1,420       133       —    

Portion of rent expense relating to interest

     723       575       595       576       498  
    


 


 


 


 


Fixed charges as defined

   $ 42,166     $ 42,483     $ 46,448     $ 31,374     $ 21,765  
    


 


 


 


 


Ratio of earnings to fixed charges

     5.8 x     3.8 x     2.7 x     3.2 x     10.5 x