Exhibit 12.2

 

Deluxe Corporation

Computation of Ratio of Earnings to Fixed Charges

 

		Six Months Ended June 30, 2002			Year Ended December 31,
					2001			2000			1999			1998			1997
Earnings:
Income from continuing operations before income taxes		$	176,263		$	297,534		$	273,429		$	322,582		$	256,305		$	147,682
Interest expense (excluding capitalized interest)1			2,094			5,691			11,900			8,852			8,672			7,411
Portion of rent expense under long-term operating leases representative of an interest factor			1,773			3,540			3,520			7,728			8,859			8,732
Total earnings		$	180,130		$	306,765		$	288,849		$	339,162		$	273,836		$	163,825
Fixed charges:
Interest expense (including capitalized interest)1			2,154			5,691		$	11,900		$	9,925		$	10,063		$	8,331
Portion of rent expense under long-term operating leases representative of an interest factor			1,773			3,540			3,520			7,728			8,859			8,732
Total fixed charges		$	3,927		$	9,231		$	15,420		$	17,653		$	18,922		$	17,063
Ratio of earnings to fixed charges			45.9			33.2			18.7			19.2			14.5			9.6

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1

Includes amortization of debt issuance costs.