EX-12 5 a2162522zex-12.htm EXHIBIT 12
QuickLinks -- Click here to rapidly navigate through this document


EXHIBIT 12


COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)

 
  (Successor)
  Jostens, Inc. (Predeccessor)
 
  Six Months Ended
   
   
   
  Fiscal Year
Dollars in thousands

  Fiscal Year
2004

  Five Months Ended
January 2, 2004

  Seven Months Ended
July 29, 2003

  April 2, 2005
  April 3, 2004
  2002
  2001
  2000
Earnings                                                
(Loss) income from continuing operations before income taxes   $ 82,161   $ 19,893   $ (137,136 ) $ (69,052 ) $ 11,750   $ 64,483   $ 45,115   $ 5,532
Interest expense (excluding capitalized interest)     52,299     77,759     143,817     66,691     32,528     68,435     79,035     60,252
Portion of rent expense under long-term operating leases representative of an interest factor     1,481     1,627     2,970     1,127     799     1,312     1,164     1,121
   
 
 
 
 
 
 
 
Total (loss) earnings   $ 135,941   $ 99,279   $ 9,651   $ (1,234 ) $ 45,077   $ 134,230   $ 125,314   $ 66,905
   
 
 
 
 
 
 
 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Interest expense (including capitalized interest)   $ 52,299   $ 77,759   $ 143,817   $ 66,691   $ 32,528   $ 68,435   $ 79,035   $ 60,252
Portion of rent expense under long-term operating leases representative of an interest factor     1,481     1,627     2,970     1,127     799     1,312     1,164     1,121
   
 
 
 
 
 
 
 
Total fixed charges   $ 53,780   $ 79,386   $ 146,787   $ 67,818   $ 33,327   $ 69,747   $ 80,199   $ 61,373
   
 
 
 
 
 
 
 

Ratio of earnings to fixed charges

 

 

2.5

 

 

1.3

 

 

0.1

(1)

 

(0.0

)(2)

 

1.4

 

 

1.9

 

 

1.6

 

 

1.1

(1)
Earnings did not cover fixed charges by $137.1 million.

(2)
Earnings did not cover fixed charges by $69.1 million.



QuickLinks

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)