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Content analysis
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EXHIBIT 12
BRIGGS & STRATTON CORPORATION AND SUBSIDIARIES
2005 Annual Report on Form 10-K
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
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| Fiscal Year Ended |
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| July 3, 2005 |
| June 27, 2004 |
| June 29, 2003 |
| June 30, 2002 |
| July 1, 2001 |
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Earnings |
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Income before income taxes |
| $ | 174,315 |
| $ | 205,004 |
| $ | 118,578 |
| $ | 80,510 |
| $ | 71,873 |
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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 |
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| Distributed income of equity investees |
| 5,967 |
| 4,392 |
| 4,080 |
| 2,426 |
| 2,933 |
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Earnings as defined |
| $ | 214,178 |
| $ | 243,686 |
| $ | 159,917 |
| $ | 123,203 |
| $ | 101,139 |
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Fixed Charges |
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Interest expense |
| $ | 34,929 |
| $ | 35,694 |
| $ | 38,380 |
| $ | 42,305 |
| $ | 29,268 |
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Amortization of discounts related to indebtedness |
| 758 |
| 758 |
| 782 |
| 888 |
| 251 |
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Imputed interest on deferred revenue |
| 1,196 |
| 1,213 |
| 1,227 |
| 1,240 |
| 1,146 |
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| Interest expense as reported |
| 36,883 |
| 37,665 |
| 40,389 |
| 44,433 |
| 30,665 |
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Amortization of deferred financing fees |
| 1,233 |
| 3,778 |
| 1,519 |
| 1,420 |
| 133 |
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Portion of rent expense relating to interest |
| 1,116 |
| 723 |
| 575 |
| 595 |
| 576 |
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Fixed charges as defined |
| $ | 39,232 |
| $ | 42,166 |
| $ | 42,483 |
| $ | 46,448 |
| $ | 31,374 |
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Ratio of earnings to fixed charges |
| 5.5 |
| 5.8 | x | 3.8 | x | 2.7 | x | 3.2 | x |