Exhibit 12.1
Deluxe Corporation
Computation of Ratio of Earnings to Fixed Charges
Year Ended December 31, | |||||||||||||||||
Nine Months Ended | |||||||||||||||||
September 30, 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | ||||||||||||
Earnings: | |||||||||||||||||
Income from continuing operations before income taxes | $261,232 | $ | 297,534 | $ | 273,429 | $ | 322,582 | $ | 256,305 | $ | 147,682 | ||||||
Interest expense (excluding capitalized interest) (1) | 3,296 | 5,691 | 11,900 | 8,852 | 8,672 | 7,411 | |||||||||||
Portion of rent expense under long-term operating leases representative of an interest factor | 2,408 | 3,540 | 3,520 | 7,728 | 8,859 | 8,732 | |||||||||||
Total earnings | $266,936 | $ | 306,765 | $ | 288,849 | $ | 339,162 | $ | 273,836 | $ | 163,825 | ||||||
Fixed charges: | |||||||||||||||||
Interest expense (including capitalized interest) (1) | 3,356 | 5,691 | $ | 11,900 | $ | 9,925 | $ | 10,063 | $ | 8,331 | |||||||
Portion of rent expense under long-term operating leases representative of an interest factor | 2,408 | 3,540 | 3,520 | 7,728 | 8,859 | 8,732 | |||||||||||
Total fixed charges | $ 5,764 | $ | 9,231 | $ | 15,420 | $ | 17,653 | $ | 18,922 | $ | 17,063 | ||||||
Ratio of earnings to fixed charges | 46.3 | 33.2 | 18.7 | 19.2 | 14.5 | 9.6 |
(1) | Includes amortization of debt issuance costs. |
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