EX-12.1
Published on May 3, 2010
Exhibit 12.1
Deluxe Corporation
Computation of Ratio of Earnings to Fixed Charges
Computation of Ratio of Earnings to Fixed Charges
| Quarter Ended | Year Ended December 31, | |||||||||||||||||||||||||||
| March 31, | ||||||||||||||||||||||||||||
| 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||||||||
Earnings: |
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Income from continuing operations before
income taxes |
$ | 58,064 | $ | 155,021 | $ | 160,176 | $ | 220,015 | $ | 142,788 | $ | 250,223 | $ | 316,453 | ||||||||||||||
Interest expense (excluding capitalized interest)(1)
|
10,535 | 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 |
653 | 2,716 | 3,147 | 2,900 | 3,526 | 4,642 | 4,875 | |||||||||||||||||||||
Total earnings |
$ | 69,252 | $ | 204,017 | $ | 213,744 | $ | 278,209 | $ | 202,975 | $ | 311,469 | $ | 354,179 | ||||||||||||||
Fixed charges: |
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Interest expense (including capitalized interest)(1)
|
$ | 10,535 | $ | 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 |
653 | 2,716 | 3,147 | 2,900 | 3,526 | 4,642 | 4,875 | |||||||||||||||||||||
Total fixed charges |
$ | 11,188 | $ | 48,996 | $ | 53,568 | $ | 58,194 | $ | 60,577 | $ | 62,041 | $ | 38,174 | ||||||||||||||
Ratio of earnings to fixed charges |
6.2 | 4.2 | 4.0 | 4.8 | 3.4 | 5.0 | 9.3 | |||||||||||||||||||||
| (1) | Does not include interest expense related to uncertain tax positions. |