Exhibit 12
R.R. Donnelley & Sons Company
Ration of Earnings to Fixed Charges
(In thousands except ratios) Nine Months Ending
30-Sep-00
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Earnings available for fixed charges:
Earnings (loss) before income taxes $ 317,641
Less: Equity earnings of minority-owned companies 2,206
Add: Dividends received from investees under the
equity method 564
Add: Minority interest expense in majority-owned
subsidiaries 181
Add: Fixed charges before capitalized interest 82,881
Add: Amortization of capitalized interest 5,890
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Total earnings available for fixed charges $ 409,363
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Fixed charges:
Interest expense 69,912
Interest portion of rental expense 12,549
Amortization of discount related to indebtedness 420
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Total fixed charges before capitalized interest 82,881
Capitalized interest 4,500
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Total fixed charges $ 87,381
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Ratio of earnings to fixed charges 4.68
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