Form: 10-Q

Quarterly report pursuant to Section 13 or 15(d)

May 1, 2008

Documents

 

Exhibit 12.1
Deluxe Corporation
Computation of Ratio of Earnings to Fixed Charges
                                                         
    Three Months        
    Ended March 31,     Year Ended December 31,  
    2008     2007     2006     2005     2004     2003     2002  
Earnings:
                                                        
Income from continuing operations before income taxes
   $ 42,571     $ 217,654     $ 142,541     $ 250,734     $ 316,873     $ 299,380     $ 340,722  
Interest expense (excluding capitalized interest)(1)
    12,753       55,294       56,661       56,604       32,851       19,241       5,079  
Portion of rent expense under long-term operating leases representative of an interest factor
     738       3,048       3,675       4,799       4,929       2,478       3,058  
 
                                          
Total earnings
   $ 56,062     $ 275,996     $ 202,877     $ 312,137     $ 354,653     $ 321,099     $ 348,859  
 
                                                        
Fixed charges:
                                                        
Interest expense (including capitalized interest)(1)
  $ 12,753     $ 55,294     $ 57,051     $ 57,399     $ 33,299     $ 19,241     $ 5,139  
Portion of rent expense under long-term operating leases representative of an interest factor
     738       3,048       3,675       4,799       4,929       2,478       3,058  
 
                                          
Total fixed charges
   $ 13,491     $ 58,342     $ 60,726     $ 62,198     $ 38,228     $ 21,719     $ 8,197  
Ratio of earnings to fixed charges
     4.2       4.7       3.3       5.0       9.3       14.8       42.6  
 
(1)   Does not include interest expense related to uncertain positions recorded under Financial Accounting Standards Board Interpretation No. 48, Accounting for Uncertainty in Income Taxes, which we adopted on January 1, 2007.