Exhibit 12.1
ACCO Brands Corporation
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
| For the three |
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| months ended |
| For the year ended December 31, |
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| March 31, 2013 |
| 2012 |
| 2011 |
| 2010 |
| 2009 |
| 2008 |
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| (in millions of dollars, except ratios) |
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Earnings: |
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Income (loss) from continuing operations before income taxes | $ | (23.4 | ) | $ | (4.4 | ) | $ | 42.9 |
| $ | 38.5 |
| $ | 7.2 |
| $ | (239.3 | ) |
Add (deduct): |
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Fixed charges | 17.4 |
| 96.1 |
| 83.9 |
| 85.4 |
| 74.5 |
| 70.8 |
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Capitalized interest | (0.1 | ) | (0.2 | ) | (0.2 | ) | (0.2 | ) | — |
| (0.5 | ) | ||||||
Equity in earnings of joint ventures | (1.3 | ) | (8.9 | ) | (8.5 | ) | (8.3 | ) | (4.4 | ) | (6.5 | ) | ||||||
Distributed income of earnings of joint ventures | 4.7 |
| 11.9 |
| 5.6 |
| 5.4 |
| 0.3 |
| 9.4 |
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Total earnings (loss) available for fixed charges | $ | (2.7 | ) | $ | 94.5 |
| $ | 123.7 |
| $ | 120.8 |
| $ | 77.6 |
| $ | (166.1 | ) |
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Fixed charges: |
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Interest expense and amortization of debt discount | 15.6 |
| $ | 89.2 |
| $ | 77.2 |
| $ | 78.2 |
| $ | 67.1 |
| $ | 63.7 |
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Capitalized interest | 0.1 |
| 0.2 |
| 0.2 |
| 0.2 |
| — |
| 0.5 |
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Rental expense—interest component(a) | 1.7 |
| 6.7 |
| 6.5 |
| 7.0 |
| 7.4 |
| 6.6 |
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Total fixed charges | $ | 17.4 |
| $ | 96.1 |
| $ | 83.9 |
| $ | 85.4 |
| $ | 74.5 |
| $ | 70.8 |
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Ratio of earnings to fixed charges | — |
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| 1.5 |
| 1.4 |
| 1.0 |
| — |
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Extent of deficiency | $ | (20.1 | ) | $ | (1.6 | ) |
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| $ | (236.9 | ) |
(a) 30% of rent expense is deemed to be representative of interest.