Exhibit 12.1
Deluxe Corporation
Computation of Ratio of Earnings to Fixed Charges
Quarter Ended March 31, | Year Ended December 31, | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 71,360 | $ | 281,059 | $ | 250,753 | $ | 216,084 | $ | 235,949 | $ | 155,021 | ||||||||||||
Interest expense (excluding capitalized interest)(1) | 9,567 | 38,301 | 46,847 | 47,797 | 44,165 | 46,280 | ||||||||||||||||||
Portion of rent expense under long-term operating leases representative of an interest factor | 1,011 | 3,952 | 4,463 | 3,215 | 3,438 | 2,716 | ||||||||||||||||||
Total earnings | $ | 81,938 | $ | 323,312 | $ | 302,063 | $ | 267,096 | $ | 283,552 | $ | 204,017 | ||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense (including capitalized interest)(1) | $ | 9,567 | $ | 38,301 | $ | 46,847 | $ | 47,797 | $ | 44,165 | $ | 46,280 | ||||||||||||
Portion of rent expense under long-term operating leases representative of an interest factor | 1,011 | 3,952 | 4,463 | 3,215 | 3,438 | 2,716 | ||||||||||||||||||
Total fixed charges | $ | 10,578 | $ | 42,253 | $ | 51,310 | $ | 51,012 | $ | 47,603 | $ | 48,996 | ||||||||||||
7.7 | 7.7 | 5.9 | 5.2 | 6.0 | 4.2 |
(1) Does not include interest expense related to uncertain tax positions.