Exhibit 12.1

Deluxe Corporation
Computation of Ratio of Earnings to Fixed Charges

 
Quarter Ended March 31,
Year Ended December 31,
 
2012
2011

2010

2009

2008

2007

2006

Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
$
66,367

$
216,084

$
235,949

$
155,021

$
160,176

$
220,015

$
142,788

 
 
 
 
 
 
 
 
Interest expense (excluding capitalized interest)(1)
11,697

47,797

44,165

46,280

50,421

55,294

56,661

 
 
 
 
 
 
 
 
Portion of rent expense under long-term operating leases representative of an interest factor
1,077

3,215

3,438

2,716

3,147

2,900

3,526

 
 
 
 
 
 
 
 
Total earnings
$
79,141

$
267,096

$
283,552

$
204,017

$
213,744

$
278,209

$
202,975

 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense (including capitalized interest)(1)
$
11,697

$
47,797

$
44,165

$
46,280

$
50,421

$
55,294

$
57,051

 
 
 
 
 
 
 
 
Portion of rent expense under long-term operating leases representative of an interest factor
1,077

3,215

3,438

2,716

3,147

2,900

3,526

 
 
 
 
 
 
 
 
Total fixed charges
$
12,774

$
51,012

$
47,603

$
48,996

$
53,568

$
58,194

$
60,577

 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
6.2

5.2

6.0

4.2

4.0

4.8

3.4


(1) Does not include interest expense related to uncertain tax positions.