EXHIBIT 12
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Jostens, Inc, and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
Exhibit 12
(unaudited)
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Nine months ended] Years ended [Six months ended] Years ended
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October 2 January 2 January 3 December 28 June 30 June 30 June 30
Dollars in thousands 1999 1999 1999 1996 1996 1995 1994
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Earnings
Income from continuing
operations before income
taxes $ 67,520 $ 83,520 $ 93,383 $ 26 $ 87,479 $ 93,893 $ 48,494
Interest expense
(excluding capitalized
interest) 4,663 7,014 6,854 4,324 9,296 5,350 6,701
Portion of rent expense under
long-term operating leases
reprensentative of an interest
factor 1,087 1,233 2,133 1,070 2,103 2,100 2,000
Amoritization of debt expense 71 12 12 6 107 102 102
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Total Earnings $ 73,341 $ 91,779 $ 102,382 $ 5,426 $ 98,985 $ 101,445 $ 57,297
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Fixed charges
Interest expense
(including capitalized
interest) 5,064 7,717 6,854 4,324 9,296 5,350 6,701
Portion of rent expense under
long-term operating leases
representative of an interest
factor 1,087 1,233 2,133 1,070 2,103 2,100 2,000
Amoritization of debt expense 71 12 12 6 107 102 102
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Total fixed charges $ 6,222 $ 8,962 $ 8,999 $ 5,400 $ 11,506 $ 7,552 $ 8,803
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Ratio of earnings to
fixed charges 11.8 10.2 11.4 1.0 8.6 13.4 6.5
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