| Brunswick Corporation |
Exhibit 12.1
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Computation
of Ratio of Earnings to Fixed Charges(A)
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(In
millions)
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Year
Ended December 31,
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2007
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2006
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2005
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2004
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2003
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Earnings
as Adjusted
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Earnings
from continuing operations
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$ | 79.6 | $ | 263.2 | $ | 371.1 | $ | 263.8 | $ | 137.0 | ||||||
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Add:
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Income
tax provision
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13.0 | 46.5 | 114.8 | 109.5 | 66.9 | ||||||||||
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Interest
and other financial charges included in expense
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52.3 | 60.5 | 53.2 | 45.3 | 41.0 | |||||||||||
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Interest
portion of rent expense
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23.9 | 22.7 | 15.1 | 15.6 | 14.4 | |||||||||||
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Dividends
received from 50%-or-less-owned affiliates
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11.6 | 6.8 | 12.3 | 13.1 | 6.8 | |||||||||||
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Subtract:
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Earnings
from 50%-or-less-owned affiliates
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(21.3 | ) | (14.8 | ) | (18.1 | ) | (18.1 | ) | (9.9 | ) | |||||
| $ | 159.1 | $ | 384.9 | $ | 548.4 | $ | 429.2 |
$
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256.2 | |||||||
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Fixed
Charges
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Interest
and other financial charges
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$ | 52.3 | $ | 60.5 | $ | 53.2 | $ | 45.3 | $ | 41.0 | ||||||
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Interest
portion of rent expense
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23.9 | 22.7 | 15.1 | 15.6 | 14.4 | |||||||||||
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Capitalized
interest
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2.3 | 2.8 | 1.4 | 1.2 | 1.5 | |||||||||||
| $ | 78.5 | $ | 86.0 | $ | 69.7 | $ | 62.1 | $ | 56.9 | |||||||
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Ratio
of earnings to fixed charges
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2.0 | x | 4.5 | x | 7.9 |
x
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6.9 | x | 4.5 | x | ||||||
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(A)
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For
computation of the ratio of earnings to fixed charges, earnings have been
calculated by adding fixed charges to earnings from continuing operations
before income taxes and
dividends
received from equity affiliates, then deducting the undistributed earnings
of affiliates. Fixed charges consist of interest expense, estimated
interest portion of rental expense and capitalized
interest.
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