EXHIBIT 12
JOSTENS, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)
Six months
Three months ended Years ended ended Years ended
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April 1 April 3 January 1 January 2 January 3 December 28 June 30 June 30
Dollars in thousands 2000 1999 2000 1999 1998 1996 1996 1995
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Earnings
Income from continuing operations
before income taxes $19,023 $13,518 $74,659 $83,520 $93,383 $ 26 $87,479 $ 93,893
Interest expense
(excluding capitalized interest) 1,916 1,122 7,312 7,014 6,854 4,324 9,296 5,350
Portion of rent expense under
long-term operating leases
representative of an interest factor 322 398 1,483 1,233 2,133 1,070 2,103 2,100
Amortization of debt expense 23 3 174 12 12 6 107 102
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Total earnings $21,284 $15,041 $83,628 $91,779 $102,382 $5,426 $98,985 $101,445
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Fixed charges
Interest expense
(including capitalized interest) $ 1,916 $ 1,267 $ 7,713 $ 7,717 $ 6,854 $4,324 $ 9,296 $ 5,350
Portion of rent expense under
long-term operating leases
representative of an interest factor 322 398 1,483 1,233 2,133 1,070 2,103 2,100
Amortization of debt expense 23 3 174 12 12 6 107 102
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Total fixed charges $ 2,261 $ 1,668 $ 9,370 $ 8,962 $ 8,999 $5,400 $11,506 $ 7,552
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Ratio of earnings to fixed charges 9.4 9.0 8.9 10.2 11.4 1.0 8.6 13.4