Attached files
Exhibit 12
BRIGGS & STRATTON CORPORATION AND SUBSIDIARIES
2015 ANNUAL REPORT ON FORM 10-K
COMPUTATION OF RATIO OF EARNINGS (LOSSES) TO FIXED CHARGES
(in thousands)
Fiscal Year Ended | |||||||||||||||||||
June 28, 2015 | June 29, 2014 | June 30, 2013 | July 1, 2012 | July 3, 2011 | |||||||||||||||
Earnings (Loss) | |||||||||||||||||||
Income (Loss) before income taxes | $ | 56,958 | $ | 37,134 | $ | (54,164 | ) | $ | 29,873 | $ | 32,054 | ||||||||
Less: Equity income from equity investees | (7,303 | ) | (6,264 | ) | (4,244 | ) | (5,100 | ) | (5,082 | ) | |||||||||
Add: Fixed Charges | 21,714 | 20,911 | 21,139 | 21,317 | 25,942 | ||||||||||||||
Add: Distributed income of equity investees | 4,628 | 4,070 | 4,636 | 4,029 | 6,980 | ||||||||||||||
Earnings (Loss) as defined | $ | 75,997 | $ | 55,851 | $ | (32,633 | ) | $ | 50,119 | $ | 59,894 | ||||||||
Fixed Charges | |||||||||||||||||||
Interest expense | $ | 19,532 | $ | 18,466 | $ | 18,519 | $ | 18,542 | $ | 23,014 | |||||||||
Amortization of discounts related to indebtedness | — | — | — | — | 304 | ||||||||||||||
Interest expense as reported | 19,532 | 18,466 | 18,519 | 18,542 | 23,318 | ||||||||||||||
Amortization of debt issuance costs | 957 | 988 | 1,007 | 1,209 | 934 | ||||||||||||||
Portion of rent expense relating to interest | 1,225 | 1,457 | 1,613 | 1,566 | 1,690 | ||||||||||||||
Fixed charges as defined | $ | 21,714 | $ | 20,911 | $ | 21,139 | $ | 21,317 | $ | 25,942 | |||||||||
Ratio of earnings (loss) to fixed charges | 3.5x | 2.7x | — | 2.4x | 2.3x | ||||||||||||||
Coverage deficiency | $ | — | $ | — | $ | 53,772 | $ | — | $ | — |