Brown Forman Corp – ‘S-3’ on 3/8/94 – EX-12

As of:  Tuesday, 3/8/94   ·   Accession #:  950131-94-292   ·   File #s:  33-12413, 33-52551

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Registration Statement for Securities Offered Pursuant to a Transaction   —   Form S-3
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: S-3         Registration Statement for Securities Offered         16    106K 
                          Pursuant to a Transaction                              
 2: EX-1.A      Underwriting Agreement Standard Provisions            19     66K 
 3: EX-1.B      Underwriting Agreement                                 5     13K 
 4: EX-4        First Chicago Indenture                               96    287K 
 5: EX-5        ON&W Opinion/Consent                                   2     11K 
 6: EX-12       Computation of Ratios                                  1      8K 
 7: EX-23.A     Coopers & Lybrand Consent                              1      7K 
 8: EX-24.A     Copy of Resolution                                     2      9K 
 9: EX-24.B     Power of Attorney                                      2±    10K 
10: EX-25       Form T-1                                               7     30K 

EX-12   —   Computation of Ratios

EX-12
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                                                                      EXHIBIT 12

BROWN-FORMAN CORPORATION  
Computation of Ratios of Earnings to Fixed Charges
(Dollars in thousands)  

                                                        [Enlarge/Download Table]


                         Nine Months                                                          
                            Ended                     Year Ended April 30,                    
                          January 31,  -------------------------------------------------------
                            1994         1993          1992       1991       1990       1989  
                          --------     --------      --------   --------   --------   --------
                                                                                              
Earnings before income                                                                        
 taxes and cumulative                                                                         
 effect of accounting                                                                         
 changes                  $208,994     $242,577      $223,692   $219,546   $157,775   $225,831

Add:                                                                                          
  Fixed charges             15,934       22,304        20,111     15,647     21,008     28,968
                          --------     --------      --------   --------   --------   --------
Earnings available for                                                                        
 fixed charges            $224,928     $264,881      $243,803   $235,193   $178,783   $254,799
                          --------     --------      --------   --------   --------   --------

Fixed Charges:                                                                                
  Interest incurred       $ 11,293     $ 15,918      $ 13,782   $ 11,075   $ 16,654   $ 24,821

Portion of rent expense                                                                       
 deemed to represent                                                                          
 interest factor             4,641        6,386         6,329      4,572      4,354      4,147
                          --------     --------      --------   --------   --------   --------

Fixed Charges             $ 15,934     $ 22,304      $ 20,111   $ 15,647   $ 21,008   $ 28,968
                          --------     --------      --------   --------   --------   --------

Ratio of earnings to                                                                          
 fixed charged                14.1         11.9          12.1       15.0        8.5        8.8
                              ----         ----          ----       ----        ---        ---