Exhibit 12.1
Deluxe Corporation
Computation of Ratio of Earnings to Fixed Charges
Three Months Ended March 31, | Year Ended December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||
Earnings: | |||||||||||||||||||||
Income from continuing operations before income taxes | $ | 68,604 | $ | 250,753 | $ | 216,084 | $ | 235,949 | $ | 155,021 | $ | 160,176 | $ | 220,015 | |||||||
Interest expense (excluding capitalized interest)(1) | 9,479 | 46,847 | 47,797 | 44,165 | 46,280 | 50,421 | 55,294 | ||||||||||||||
Portion of rent expense under long-term operating leases representative of an interest factor | 1,078 | 4,463 | 3,215 | 3,438 | 2,716 | 3,147 | 2,900 | ||||||||||||||
Total earnings | $ | 79,161 | $ | 302,063 | $ | 267,096 | $ | 283,552 | $ | 204,017 | $ | 213,744 | $ | 278,209 | |||||||
Fixed charges: | |||||||||||||||||||||
Interest expense (including capitalized interest)(1) | $ | 9,479 | $ | 46,847 | $ | 47,797 | $ | 44,165 | $ | 46,280 | $ | 50,421 | $ | 55,294 | |||||||
Portion of rent expense under long-term operating leases representative of an interest factor | 1,078 | 4,463 | 3,215 | 3,438 | 2,716 | 3,147 | 2,900 | ||||||||||||||
Total fixed charges | $ | 10,557 | $ | 51,310 | $ | 51,012 | $ | 47,603 | $ | 48,996 | $ | 53,568 | $ | 58,194 | |||||||
Ratio of earnings to fixed charges | 7.5 | 5.9 | 5.2 | 6.0 | 4.2 | 4.0 | 4.8 |
(1) Does not include interest expense related to uncertain tax positions.