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Brunswick
Corporation
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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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2008
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2007
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2006
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2005
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2004
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Earnings
as Adjusted
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Earnings
from continuing operations
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$ |
(788.1)
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$ 79.6
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$ 263.2
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$ 371.1
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$ 263.8
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Add:
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Income
tax provision
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155.9
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13.0
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46.5
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114.8
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109.5
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Interest
and other financial charges included in expense
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54.2
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52.3
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60.5
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53.2
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45.3
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Interest
portion of rent expense
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24.0
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23.9
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22.7
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15.1
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15.6
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Dividends
received from 50%-or-less-owned affiliates
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5.4
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11.6
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6.8
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12.3
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13.1
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Subtract:
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Earnings
from 50%-or-less-owned affiliates
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(6.5)
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(21.3)
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(14.8)
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(18.1)
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(18.1)
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| $ |
(555.1)
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$ 159.1
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$ 384.9
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$ 548.4
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$ 429.2
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Fixed
Charges
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Interest
and other financial charges
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$ |
54.2
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$ 52.3
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$ 60.5
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$ 53.2
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$ 45.3
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Interest
portion of rent expense
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24.0
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23.9
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22.7
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15.1
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15.6
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Capitalized
interest
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1.2
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2.3
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2.8
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1.4
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1.2
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| $ |
79.4
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$ 78.5
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$ 86.0
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$ 69.7
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$ 62.1
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Ratio
of earnings to fixed charges
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(7.0)
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x
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2.0
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x
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4.5
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x
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7.9
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x
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6.9
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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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