Exhibit 12.1
BROWN-FORMAN CORPORATION
Computation of Ratios of Earnings to Fixed Charges
(Dollars in millions)
| Year Ended April 30 | ||||||||||||||||||||
| 2012 | 2013 | 2014 | 2015 | 2016 | ||||||||||||||||
| Earnings available for fixed charges |
$ | 795.5 | $ | 907.4 | $ | 981.8 | $ | 1,037.0 | $ | 1,541.5 | ||||||||||
| Fixed Charges: |
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| Interest incurred |
$ | 28.6 | $ | 36.1 | $ | 28.6 | $ | 29.2 | $ | 45.9 | ||||||||||
| Portion of rent expense deemed to represent interest factor |
7.3 | 7.3 | 7.8 | 7.7 | $ | 7.7 | ||||||||||||||
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| Fixed charges |
$ | 35.9 | $ | 43.4 | $ | 36.4 | $ | 36.9 | $ | 53.6 | ||||||||||
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| Ratio of earnings to fixed charges |
22.1x | 20.9x | 26.9x | 28.1x | 28.8x | |||||||||||||||