EX-12.1 4 deluxe062550_ex12-1.htm STATEMENT RE: COMPUTATION OF RATIOS Exhibit 12.1 to Deluxe Corporation Form 10-Q dated June 30, 2006

Exhibit 12.1

Deluxe Corporation
Computation of Ratio of Earnings to Fixed Charges


Year Ended December 31,
Six Months Ended
June 30, 2006
2005 2004 2003 2002 2001
 
Earnings:                            
 
Income from continuing operations before income taxes   $ 33,416   $ 250,734   $ 316,873   $ 299,380   $ 340,722   $ 297,534  
 
Interest expense (excluding capitalized interest)    28,589    56,604    32,851    19,241    5,079    5,691  
 
Portion of rent expense under long-term operating  
 leases representative of an interest factor    1,897    4,799    4,929    2,478    3,058    3,540  
           
 
Total earnings     $ 63,902   $ 312,137   $ 354,653   $ 321,099   $ 348,859   $ 306,765  
 
 
Fixed charges:   
 
Interest expense (including capitalized interest)   $ 28,979   $ 57,399   $ 33,299   $ 19,241   $ 5,139   $ 5,691  
 
Portion of rent expense under long-term operating  
  leases representative of an interest factor    1,897    4,799    4,929    2,478    3,058    3,540  
           
 
Total fixed charges     $ 30,876   $ 62,198   $ 38,228   $ 21,719   $ 8,197   $ 9,231  
 
Ratio of earnings to fixed charges       2.1     5.0     9.3     14.8     42.6     33.2