EX-12 2 0002.txt COMPUTATION OF RATIO OF EARNINGS EXHIBIT 12 JOSTENS, INC. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)
Six months ended Years ended ---------------------------- ----------------------------------------- July 1 July 3 January 1 January 2 January 3 Dollars in thousands 2000 1999 2000 1999 1998 ------------------------------------------------------------------------- ----------------------------------------- Earnings Income from continuing operations before income taxes $ 33,286 $ 79,142 $ 74,659 $ 83,520 $ 93,383 Interest expense and amortization of debt expense (excluding capitalized interest) 15,292 2,699 7,486 7,026 6,866 Portion of rent expense under long-term operating leases representative of an interest factor 601 777 1,483 1,233 2,133 ------------------------------------------------------------------------- ----------------------------------------- Total earnings $ 49,179 $ 82,619 $ 83,628 $ 91,779 $ 102,382 ========================================================================= ========================================= Fixed charges Interest expense (including capitalized interest) $ 15,292 $ 2,961 $ 7,887 $ 7,729 $ 6,866 Portion of rent expense under long-term operating leases representative of an interest factor 601 777 1,483 1,233 2,133 ------------------------------------------------------------------------- ----------------------------------------- Total fixed charges $ 15,893 $ 3,739 $ 9,370 $ 8,962 $ 8,999 ========================================================================= ========================================= Ratio of earnings to fixed charges 2.7 22.1 8.9 10.2 11.4 Six months ended Years ended ------------------- ------------------------ December 28 June 30 June 30 Dollars in thousands 1996 1996 1995 --------------------------------------------- ------------------- ------------------------ Earnings Income from continuing operations before income taxes $ 26 $ 87,479 $ 93,893 Interest expense and amortization of debt expense (excluding capitalized interest) 4,330 9,403 5,452 Portion of rent expense under long-term operating leases representative of an interest factor 1,070 2,103 2,100 --------------------------------------------- ------------------- ------------------------ Total earnings $ 5,426 $ 98,985 $101,445 ============================================= =================== ======================== Fixed charges Interest expense (including capitalized interest) $ 4,330 $ 9,403 $ 5,452 Portion of rent expense under long-term operating leases representative of an interest factor 1,070 2,103 2,100 --------------------------------------------- ------------------- ------------------------ Total fixed charges $ 5,400 $ 11,506 $ 7,552 ============================================= =================== ======================== Ratio of earnings to fixed charges 1.0 8.6 13.4