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Jostens, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
Exhibit 12
(unaudited)
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Six months ended Years ended Six months ended Years ended
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July 3 January 2 January 3 December 28 June 30 June 30 June 30
Dollars in thousands 1999 1999 1998 1996 1996 1995 1994
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Earnings
Income from continuing operations
before income taxes $ 79,142 $ 83,520 $ 93,383 $ 26 $ 87,479 $ 93,893 $ 48,494
Interest expense
(excluding capitalized interest) 2,694 7,014 6,854 4,324 9,296 5,350 6,701
Portion of rent expense under
long-term operating leases
representative of an interest factor 777 1,233 2,133 1,070 2,103 2,100 2,000
Amotization of debt expense 6 12 12 6 107 102 102
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Total earnings $ 82,619 $ 91,779 $ 102,382 $ 5,426 $ 98,985 $ 101,445 $ 57,297
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Fixed charges
Interest expense
(including capitalized interest) 2,956 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 777 1,233 2,133 1,070 2,103 2,100 2,000
Amotization of debt expense 6 12 12 6 107 102 102
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Total fixed charges $ 3,739 $ 8,962 $ 8,999 $ 5,400 $ 11,506 $ 7,552 $ 8,803
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Ratio of earnings to fixed charges 22.1 10.2 11.4 1.0 8.6 13.4 6.5
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