Brown-Forman (BF-A) 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

Exhibit 12.1

BROWN-FORMAN CORPORATION

Computation of Ratios of Earnings to Fixed Charges

(Dollars in millions)

	Year Ended April 30
	2012		2013		2014		2015		2016
Earnings available for fixed charges	$	795.5	$	907.4	$	981.8	$	1,037.0	$	1,541.5
Fixed Charges:
Interest incurred	$	28.6	$	36.1	$	28.6	$	29.2	$	45.9
Portion of rent expense deemed to represent interest factor		7.3		7.3		7.8		7.7	$	7.7
Fixed charges	$	35.9	$	43.4	$	36.4	$	36.9	$	53.6
Ratio of earnings to fixed charges		22.1x		20.9x		26.9x		28.1x		28.8x