STATEMENT RE: COMPUTATION OF RATIOS
Published on November 6, 2006
Exhibit 12.1
Deluxe Corporation
Computation of Ratio of Earnings to Fixed Charges
| Year Ended December 31, | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nine Months Ended September 30, 2006 |
2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||||||
| Earnings: | ||||||||||||||||||||
| Income from continuing operations before income taxes | $ | 76,807 | $ | 250,734 | $ | 316,873 | $ | 299,380 | $ | 340,722 | $ | 297,534 | ||||||||
| Interest expense (excluding capitalized interest) | 42,966 | 56,604 | 32,851 | 19,241 | 5,079 | 5,691 | ||||||||||||||
| Portion of rent expense under long-term operating | ||||||||||||||||||||
| leases representative of an interest factor | 2,743 | 4,799 | 4,929 | 2,478 | 3,058 | 3,540 | ||||||||||||||
| Total earnings | $ | 122,516 | $ | 312,137 | $ | 354,653 | $ | 321,099 | $ | 348,859 | $ | 306,765 | ||||||||
| Fixed charges: | ||||||||||||||||||||
| Interest expense (including capitalized interest) | $ | 43,355 | $ | 57,399 | $ | 33,299 | $ | 19,241 | $ | 5,139 | $ | 5,691 | ||||||||
| Portion of rent expense under long-term operating | ||||||||||||||||||||
| leases representative of an interest factor | 2,743 | 4,799 | 4,929 | 2,478 | 3,058 | 3,540 | ||||||||||||||
| Total fixed charges | $ | 46,098 | $ | 62,198 | $ | 38,228 | $ | 21,719 | $ | 8,197 | $ | 9,231 | ||||||||
| Ratio of earnings to fixed charges | 2.7 | 5.0 | 9.3 | 14.8 | 42.6 | 33.2 | ||||||||||||||