STATEMENT RE: COMPUTATION OF RATIOS
Published on February 16, 2007
Exhibit 12.1
Deluxe Corporation
Computation of Ratio of Earnings to Fixed Charges
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Year Ended December 31, |
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2006 |
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2005 |
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2004 |
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2003 |
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2002 |
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2001 |
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Earnings: |
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Income from continuing operations before income taxes |
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$ |
142,541 |
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$ |
250,734 |
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$ |
316,873 |
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$ |
299,380 |
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$ |
340,722 |
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$ |
297,534 |
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Interest expense (excluding capitalized interest) |
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56,661 |
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56,604 |
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32,851 |
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19,241 |
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5,079 |
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5,691 |
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Portion of rent expense under long-term operating leases representative of an interest factor |
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3,675 |
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4,799 |
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4,929 |
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2,478 |
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3,058 |
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3,540 |
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Total earnings |
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$ |
202,877 |
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$ |
312,137 |
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$ |
354,653 |
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$ |
321,099 |
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$ |
348,859 |
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$ |
306,765 |
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Fixed charges: |
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Interest expense (including capitalized interest) |
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$ |
57,051 |
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$ |
57,399 |
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$ |
33,299 |
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$ |
19,241 |
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$ |
5,139 |
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$ |
5,691 |
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Portion of rent expense under long-term operating leases representative of an interest factor |
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3,675 |
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4,799 |
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4,929 |
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2,478 |
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3,058 |
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3,540 |
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Total fixed charges |
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$ |
60,726 |
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$ |
62,198 |
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$ |
38,228 |
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$ |
21,719 |
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$ |
8,197 |
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$ |
9,231 |
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Ratio of earnings to fixed charges |
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3.3 |
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5.0 |
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9.3 |
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14.8 |
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42.6 |
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33.2 |
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