Exhibit 12.1
Global Imaging Systems, Inc.
Ratios of Earnings to Fixed Charges
Three months
March 31, ended June 30,
---------------------------------------------------------
1999 2000 2001 2002 2003 2002 2003
---------------------------------------------------------
Net Income $11,284 $15,051 $16,500 $27,214 $34,239 $ 7,688 $4,292
Provision for income taxes 10,390 12,729 14,055 18,458 22,921 5,146 2,814
------ ------ ------ ------ ------ ------- ------
Income before income taxes $21,674 $27,780 $30,555 $45,672 $57,160 $12,834 $7,106
====== ====== ====== ====== ====== ======= ======
Fixed charges:
Interest expensed $ 8,106 $21,311 $27,236 $23,157 $17,499 $4,685 $3,785
Amortization of deferred
financing costs and discount 321 860 927 1,106 1,217 400 357
Estimated interest factor on
operating leases 529 925 1,301 1,433 1,693 359 423
------ ------ ------ ------ ------ ------ ------
Total fixed charges $ 8,956 $23,096 $29,464 $25,696 $20,409 $ 5,344 $4,565
====== ====== ====== ====== ====== ====== ======
Earnings:
Income before income taxes $21,674 $27,780 $30,555 $45,672 $57,160 $12,834 $7,106
------ ------ ------ ------ ------ ------- ------
Fixed charges 8,956 23,069 29,464 25,696 20,409 5,344 4,565
------ ------ ------ ------ ------ ------ ------
Total earnings $30,630 $50,876 $60,019 $71,368 $77,569 $18,178 $11,671
====== ====== ====== ====== ====== ======= ======
Ratio of earnings to fixed
charges 3.42 2.20 2.04 2.78 3.80 3.40 2.56
====== ====== ====== ====== ====== ======= ======