EX-12.2 3 deluxe053116_ex12-1.htm Exhibit 12.1 to Deluxe Corporation 10-Q dated June 30, 2005

EXHIBIT 12.1

Deluxe Corporation
Computation of Ratio of Earnings to Fixed Charges


Six Months Ended
June 30,
2005

  Year Ended December 31,
2004
2003
2002
2001
2000
Earnings:                            
 
Income from continuing operations before  
    income taxes   $ 81,731   $ 316,873   $ 299,380   $ 340,722   $ 297,534   $ 273,429  
 
Interest expense (excluding capitalized interest)    27,974    32,851    19,241    5,079    5,691    11,900  
 
Portion of rent expense under long-term operating  
    leases representative of an interest factor    2,292    4,929    2,478    3,058    3,540    3,520  
 





 
Total earnings     $ 111,997   $ 354,653   $ 321,099   $ 348,859   $ 306,765   $ 288,849  
 
 
Fixed charges:   
 
Interest expense (including capitalized interest)   $ 28,318   $ 33,299   $ 19,241   $ 5,139   $ 5,691   $ 11,900  
 
Portion of rent expense under long-term operating  
    leases representative of an interest factor    2,292    4,929    2,478    3,058    3,540    3,520  
 





 
Total fixed charges     $ 30,610   $ 38,228   $ 21,719   $ 8,197   $ 9,231   $ 15,420  
 
Ratio of earnings to fixed charges       3.7     9.3     14.8     42.6     33.2     18.7