STATEMENT RE: COMPUTATION OF RATIOS
Published on October 31, 2007
Exhibit 12.1
Deluxe Corporation
Computation of Ratio of Earnings to Fixed Charges
Computation of Ratio of Earnings to Fixed Charges
| Nine Months | ||||||||||||||||||||||||
| Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||
| 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||||||
Earnings: |
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Income from continuing operations before
income taxes |
$ | 159,491 | $ | 142,541 | $ | 250,734 | $ | 316,873 | $ | 299,380 | $ | 340,722 | ||||||||||||
Interest expense (excluding capitalized interest) |
42,226 | 56,661 | 56,604 | 32,851 | 19,241 | 5,079 | ||||||||||||||||||
Portion of rent expense under long-term operating
leases representative of an interest factor |
2,380 | 3,675 | 4,799 | 4,929 | 2,478 | 3,058 | ||||||||||||||||||
Total earnings |
$ | 204,097 | $ | 202,877 | $ | 312,137 | $ | 354,653 | $ | 321,099 | $ | 348,859 | ||||||||||||
Fixed charges: |
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Interest expense (including capitalized interest) |
$ | 42,226 | $ | 57,051 | $ | 57,399 | $ | 33,299 | $ | 19,241 | $ | 5,139 | ||||||||||||
Portion of rent expense under long-term operating
leases representative of an interest factor |
2,380 | 3,675 | 4,799 | 4,929 | 2,478 | 3,058 | ||||||||||||||||||
Total fixed charges |
$ | 44,606 | $ | 60,726 | $ | 62,198 | $ | 38,228 | $ | 21,719 | $ | 8,197 | ||||||||||||
Ratio of earnings to fixed charges |
4.6 | 3.3 | 5.0 | 9.3 | 14.8 | 42.6 | ||||||||||||||||||