EX-12.4 5 dex124.htm STATEMENT RE: COMPUTATION OF RATIOS Prepared by R.R. Donnelley Financial -- Statement re: computation of ratios
 
EXHIBIT 12.4
 
DELUXE CORPORATION
 
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
    
Year Ended December 31,
    
2001
   
2000
   
1999
   
1998
   
1997
Earnings:
                                   
Income from continuing operations before income taxes
   
$
297,534
   
$
273,429
   
$
322,582
   
$
256,305
   
$
147,682
Interest expense (excluding capitalized interest)
   
 
5,583
   
 
11,436
   
 
8,589
   
 
8,550
   
 
7,289
Portion of rent expense under long-term operating
                                   
leases representative of an interest factor
   
 
3,540
   
 
3,520
   
 
7,728
   
 
8,859
   
 
8,732
Amortization of debt expense
   
 
176
   
 
464
   
 
263
   
 
122
   
 
122
    
  
  
  
  
Total earnings
   
$
306,833
   
$
288,849
   
$
339,162
   
$
273,836
   
$
163,825
Fixed charges:
                                   
Interest expense (including capitalized interest)
   
 
5,583
   
$
11,436
   
$
9,662
   
$
9,941
   
$
8,209
Portion of rent expense under long-term operating
                                   
leases representative of an interest factor
   
 
3,540
   
 
3,520
   
 
7,728
   
 
8,859
   
 
8,732
Amortization of debt expense
   
 
176
   
 
464
   
 
263
   
 
122
   
 
122
    
  
  
  
  
Total fixed charges
   
$
9,299
   
$
15,420
   
$
17,653
   
$
18,922
   
$
17,063
Ratio of earnings to fixed charges
   
 
33.0
   
 
18.7
   
 
19.2
   
 
14.5
   
 
9.6

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