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Exhibit 12.1

 

Deluxe Corporation

Computation of Ratio of Earnings to Fixed Charges

 

 

		Nine Months Ended				Year Ended December 31,
		September 30,
		2010				2009				2008				2007				2006				2005				2004
Earnings:
Income from continuing operations before income taxes		$	186,416			$	155,021			$	160,176			$	220,015			$	142,788			$	250,223			$	316,453
Interest expense (excluding capitalized interest)(1)			33,250				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			2,337				2,716				3,147				2,900				3,526				4,642				4,875
Total earnings		$	222,003			$	204,017			$	213,744			$	278,209			$	202,975			$	311,469			$	354,179
Fixed charges:
Interest expense (including capitalized interest)(1)		$	33,250			$	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			2,337				2,716				3,147				2,900				3,526				4,642				4,875
Total fixed charges		$	35,587			$	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.

 

 

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