EXHIBIT 12.1
BROWN-FORMAN CORPORATION
Computation of Ratios of Earnings to Fixed Charges
(Dollars in millions)
Year Ended April 30 | ||||||||||||||||||||
2011 | 2012 | 2013 | 2014 | 2015 | ||||||||||||||||
Earnings available for fixed charges | $ | 867.7 | $ | 795.5 | $ | 907.4 | $ | 981.8 | $ | 1,037.0 | ||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest incurred | $ | 31.6 | $ | 28.6 | $ | 36.1 | $ | 28.6 | $ | 29.2 | ||||||||||
Portion of rent expense deemed to represent interest factor | 7.3 | 7.3 | 7.3 | 7.8 | 7.7 | |||||||||||||||
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Fixed charges | $ | 38.9 | $ | 35.9 | $ | 43.4 | $ | 36.4 | $ | 36.9 | ||||||||||
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Ratio of earnings to fixed charges | 22.3 | x | 22.1 | x | 20.9 | x | 26.9 | x | 28.1 | x |