COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 12.1 CLARKE AMERICAN CORP. PREDECESSOR PREDECESSOR PREDECESSOR SUCCESSOR SUCCESSOR SUCCESSOR (HONEYWELL) (NOVAR) (NOVAR) -------------------------------------------------------------------------------------- PERIOD FROM PERIOD FROM QUARTER ENDED YEAR ENDED DECEMBER 15 TO APRIL 1 TO THREE MONTHS YEAR ENDED MARCH 31, DECEMBER 31, 31, DECEMBER 14, ENDED MARCH 31, DECEMBER 31, -------------------------------------------------------------------------------------- 2007 2006 2005 2005 2005 2004 2003 2002 COMPUTATION OF EARNINGS: INCOME (LOSS) BEFORE TAXES 5.1 27.0 (2.1) 51.1 18.5 87.9 75.6 83.9 FIXED CHARGES 16.2 63.3 2.9 5.3 6.4 22.0 30.3 16.1 AMORTIZATION OF CAPITALIZED INTEREST - - - - - - - - CAPITALIZED INTEREST (0.1) (1.0) - - - - - - -------------------------------------------------------------------------------------- EARNINGS 21.2 89.3 0.8 56.4 24.9 109.9 105.9 100.0 ====================================================================================== COMPUTATION OF FIXED CHARGES: INTEREST EXPENSE 15.2 60.0 2.8 3.5 5.7 19.4 27.2 13.5 CAPITALIZED INTEREST 0.1 1.0 - - - - - - INTEREST PORTION OF OPERATING LEASE EXPENSE 0.9 2.3 0.1 1.8 0.7 2.6 3.1 2.6 -------------------------------------------------------------------------------------- FIXED CHARGES 16.2 63.3 2.9 5.3 6.4 22.0 30.3 16.1 ====================================================================================== RATIO OF EARNINGS TO FIXED CHARGES 1.3 1.4 0.3 (1) 10.6 3.9 5.0 3.5 6.2 ====================================================================================== (1) Due to the Company's loss in the period shown, the ratio coverage was less than 1:1. In order to achieve a ratio of 1:1, the Company would have to had generated additional pre-tax income of $2.1 million in the period from December 15 to December 31, 2005. Page 1 of 1
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S-4 Filing
Clarke American Checks Inactive S-4Registration of securities issued in business combination transactions
Filed: 13 Jun 07, 12:00am