Exhibit 12.1
CERTEGY INC.
RATIO OF EARNINGS TO FIXED CHARGES
($ in thousands, except ratio data)
Year ended December 31, | Nine months ended September 30, | |||||||||||||||||
1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||||||
Earnings: | ||||||||||||||||||
Income before income taxes(1) | $ | 101,595 | $ | 128,901 | $ | 146,071 | $ | 143,352 | $ | 145,948 | $ | 97,984 | ||||||
Add: | ||||||||||||||||||
Interest expense | 533 | 901 | 1,301 | 7,200 | 7,120 | 5,354 | ||||||||||||
Other adjustments | 4,601 | 5,323 | 5,603 | 5,080 | 4,564 | 3,566 | ||||||||||||
Total earnings | $ | 106,729 | $ | 135,125 | $ | 152,975 | $ | 155,632 | $ | 157,632 | $ | 106,904 | ||||||
Fixed charges: | ||||||||||||||||||
Interest expense | $ | 533 | $ | 901 | $ | 1,301 | $ | 7,200 | $ | 7,120 | $ | 5,354 | ||||||
Other adjustments | 4,601 | 5,323 | 5,603 | 5,080 | 4,564 | 3,566 | ||||||||||||
Total fixed charges | $ | 5,134 | $ | 6,224 | $ | 6,904 | $ | 12,280 | $ | 11,684 | $ | 8,920 | ||||||
Ratio of earnings to fixed charges | 20.79 | 21.71 | 22.16 | 12.67 | 13.49 | 11.98 |
(1) | Income before income taxes includes minority interests. |
For the purposes of calculating the ratio of earnings to fixed charges, fixed charges consist of interest on indebtedness, amortization of deferred financing costs, and an estimated amount of rental expense that is deemed to be representative of the interest factor.