EX-12 4 dex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 JOSTENS, INC. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)
Six months ended Years ended --------------------- -------------------------------------------------------------- June 29, June 30, December 29, December 30, January 1, January 2, January 3, Dollars in thousands 2002 2001 2001 2000 2000 1999 1998 ------------------------------------------------------------------- -------------------------------------------------------------- Earnings Income (loss) from continuing operations before income taxes $ 73,693 $ 57,632 $ 26,540 $ (10,468) $ 43,999 $ 35,952 $ 52,379 Interest expense (excluding capitalized interest) 35,468 41,816 79,035 60,252 7,486 7,026 6,866 Portion of rent expense under long-term operating leases representative of an interest factor 720 644 1,164 1,121 1,483 1,233 2,133 ------------------------------------------------------------------- -------------------------------------------------------------- Total earnings $ 109,881 $ 100,092 $ 106,739 $ 50,905 $ 52,968 $ 44,211 $ 61,378 =================================================================== ============================================================== Fixed charges Interest expense (including capitalized interest) $ 35,468 $ 41,816 $ 79,035 $ 60,252 $ 7,887 $ 7,729 $ 6,866 Portion of rent expense under long-term operating leases representative of an interest factor 720 644 1,164 1,121 1,483 1,233 2,133 ------------------------------------------------------------------- -------------------------------------------------------------- Total fixed charges $ 36,188 $ 42,460 $ 80,199 $ 61,373 $ 9,370 $ 8,962 $ 8,999 =================================================================== ============================================================== Ratio of earnings to fixed charges 3.0 2.4 1.3 0.8 5.7 4.9 6.8