EX-12.1
Published on February 19, 2010
Exhibit 12.1
Deluxe Corporation
Computation of Ratio of Earnings to Fixed Charges
Computation of Ratio of Earnings to Fixed Charges
| Year Ended December 31, | ||||||||||||||||||||||||
| 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||||||
Earnings: |
||||||||||||||||||||||||
Income from continuing operations before
income taxes |
$ | 155,021 | $ | 160,176 | $ | 220,015 | $ | 142,788 | $ | 250,223 | $ | 316,453 | ||||||||||||
Interest expense (excluding capitalized interest)(1)
|
46,280 | 50,421 | 55,294 | 56,661 | 56,604 | 32,851 | ||||||||||||||||||
Portion of rent expense under long-term operating
leases representative of an interest factor |
2,716 | 3,147 | 2,900 | 3,526 | 4,642 | 4,875 | ||||||||||||||||||
Total earnings |
$ | 204,017 | $ | 213,744 | $ | 278,209 | $ | 202,975 | $ | 311,469 | $ | 354,179 | ||||||||||||
Fixed charges: |
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Interest expense (including capitalized interest)(1)
|
$ | 46,280 | $ | 50,421 | $ | 55,294 | $ | 57,051 | $ | 57,399 | $ | 33,299 | ||||||||||||
Portion of rent expense under long-term operating
leases representative of an interest factor |
2,716 | 3,147 | 2,900 | 3,526 | 4,642 | 4,875 | ||||||||||||||||||
Total fixed charges |
$ | 48,996 | $ | 53,568 | $ | 58,194 | $ | 60,577 | $ | 62,041 | $ | 38,174 | ||||||||||||
Ratio of earnings to fixed charges |
4.2 | 4.0 | 4.8 | 3.4 | 5.0 | 9.3 | ||||||||||||||||||
| (1) | Does not include interest expense related to uncertain tax positions. |