EX-12 6 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) Nine months ended Years ended ------------------------ ------------------------------------------------------------------ September September December December December January January Dollars in thousands 27, 2003 28, 2002 28, 2002 29, 2001 30, 2000 1, 2000 2, 1999 ------------------------------------------------------------- ------------------------------------------------------------------ Earnings (Loss) income from continuing operations before income taxes $ (32,316) $ 43,853 $ 28,269 $ 26,540 $ (10,468) $ 43,999 $ 35,952 Interest expense (excluding capitalized interest) 42,287 50,830 68,435 79,035 60,252 7,486 7,026 Portion of rent expense under long-term operating leases representative of an interest factor 1,031 1,053 1,312 1,164 1,121 1,483 1,233 ------------------------------------------------------------- ------------------------------------------------------------------ Total earnings $ 11,002 $ 95,736 $ 98,016 $ 106,739 $ 50,905 $ 52,968 $ 44,211 ============================================================= ================================================================== Fixed charges Interest expense (including capitalized interest) $ 42,287 $ 50,830 $ 68,435 $ 79,035 $ 60,252 $ 7,887 $ 7,729 Portion of rent expense under long-term operating leases representative of an interest factor 1,031 1,053 1,312 1,164 1,121 1,483 1,233 ------------------------------------------------------------- ------------------------------------------------------------------ Total fixed charges $ 43,318 $ 51,883 $ 69,747 $ 80,199 $ 61,373 $ 9,370 $ 8,962 ============================================================= ================================================================== Ratio of earnings to fixed charges 0.3/1/ 1.8 1.4 1.3 0.8/2/ 5.7 4.9 /1/ For the nine months ended September 27, 2003, earnings did not cover fixed charges by $32.3 million. /2/ For the year ended December 30, 2000, earnings did not cover fixed charges by $10.5 million.