EX-12 13 ex-12xbggx732016.htm EXHIBIT 12 Exhibit


Exhibit 12
BRIGGS & STRATTON CORPORATION AND SUBSIDIARIES
2016 ANNUAL REPORT ON FORM 10-K
COMPUTATION OF RATIO OF EARNINGS (LOSSES) TO FIXED CHARGES
(in thousands)

 
 
 
 
 
 
 
 
 
 
 
Fiscal Year Ended
 
July 3, 2016

 
June 28, 2015

 
June 29, 2014

 
June 30, 2013

 
July 1, 2012

Earnings (Loss)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (Loss) before income taxes
$
35,356

 
$
56,958

 
$
37,134

 
$
(54,164
)
 
$
29,873

Less: Equity income from equity investees
(4,947
)
 
(7,303
)
 
(6,264
)
 
(4,244
)
 
(5,100
)
Add: Fixed Charges
22,154

 
21,714

 
20,911

 
21,139

 
21,317

Add: Distributed income of equity investees
6,119

 
4,628

 
4,070

 
4,636

 
4,029

Earnings (Loss) as defined
$
58,682

 
$
75,997

 
$
55,851

 
$
(32,633
)
 
$
50,119

 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
20,033

 
$
19,532

 
$
18,466

 
$
18,519

 
$
18,542

Amortization of discounts related to indebtedness
—

 
—

 
—

 
—

 
—

Interest expense as reported
20,033

 
19,532

 
18,466

 
18,519

 
18,542

 
 
 
 
 
 
 
 
 
 
Amortization of debt issuance costs
929

 
957

 
988

 
1,007

 
1,209

Portion of rent expense relating to interest
1,192

 
1,225

 
1,457

 
1,613

 
1,566

Fixed charges as defined
$
22,154

 
$
21,714

 
$
20,911

 
$
21,139

 
$
21,317

 
 
 
 
 
 
 
 
 
 
Ratio of earnings (loss) to fixed charges
2.6x

 
3.5x

 
2.7x

 
—

 
2.4x

 
 
 
 
 
 
 
 
 
 
Coverage deficiency
$
—

 
$
—

 
$
—

 
$
53,772

 
$
—