EX-12.3 2 0002.txt STATEMENT RE: COMPUTATION OF RATIOS Exhibit 12.3 DELUXE CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Six Months Ended Years Ended December 31, ----- ------------------------ June 30, 2000 1999 1998 1997 1996 1995 1994 ------------- ---- ---- ---- ---- ---- ---- Earnings -------- Income from Continuing Operations before Income Taxes $126,661 $324,655 $242,915 $115,150 $118,765 $169,319 $246,706 Interest expense (excluding capitalized interest) 7,248 8,506 8,273 8,822 10,649 13,099 9,733 Portion of rent expense under long-term operating leases representative of an interest factor 5,927 14,640 15,126 13,621 13,467 14,761 13,554 Amortization of debt expense 273 263 122 122 121 84 84 ---- ---- ---- ---- ---- ---- ---- TOTAL EARNINGS $140,109 $348,064 $266,436 $137,715 $143,002 $197,262 $270,077 Fixed charges ------------- Interest Expense (including capitalized interest) 7,248 9,479 9,664 $9,742 $11,978 $14,714 $10,492 Portion of rent expense under long-term operating leases representative of an interest factor 5,927 14,640 15,126 13,621 13,467 14,761 13,554 Amortization of debt expense 273 263 122 122 121 84 84 ---- ---- ---- ---- ---- ---- ---- TOTAL FIXED CHARGES $13,448 $24,382 $24,912 $23,485 $25,566 $29,559 $24,130 RATIO OF EARNINGS TO FIXED CHARGES: 10.4 14.3 10.7 5.9 5.6 6.7 11.2