Deluxe (DLX) 10-Q 2009 Q3 Quarterly report

Exhibit 12.1

Deluxe Corporation
Computation of Ratio of Earnings to Fixed Charges

	Nine Months Ended
	September 30,		Year Ended December 31,
	2009		2008		2007		2006		2005		2004		2003
Earnings:
Income from continuing operations before income taxes	$	109,840	$	160,176	$	220,015	$	142,788	$	250,223	$	316,453	$	299,380
Interest expense (excluding capitalized interest)(1)		35,542		50,421		55,294		56,661		56,604		32,851		19,241
Portion of rent expense under long-term operating leases representative of an interest factor		1,950		3,147		2,900		3,526		4,642		4,875		2,478
Total earnings	$	147,332	$	213,744	$	278,209	$	202,975	$	311,469	$	354,179	$	321,099
Fixed charges:
Interest expense (including capitalized interest)(1)	$	35,542	$	50,421	$	55,294	$	57,051	$	57,399	$	33,299	$	19,241
Portion of rent expense under long-term operating leases representative of an interest factor		1,950		3,147		2,900		3,526		4,642		4,875		2,478
Total fixed charges	$	37,492	$	53,568	$	58,194	$	60,577	$	62,041	$	38,174	$	21,719
Ratio of earnings to fixed charges		3.9		4.0		4.8		3.4		5.0		9.3		14.8

⁽¹⁾ Does not include interest expense related to uncertain tax positions recorded under Financial Accounting Standards Board (FASB) Accounting Standards Codification topic 740. We adopted the FASB’s guidance regarding uncertsin tax positions on January 1, 2007.