EXHIBIT 12
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Jostens, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
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Three months Six months
ended Years ended ended Years ended
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April 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 $13,518 $83,520 $ 93,383 $ 26 $87,479 $ 93,893 $48,494
Interest expense
(excluding capitalized interest) 1,122 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 398 1,233 2,133 1,070 2,103 2,100 2,000
Amortization of debt expense 3 12 12 6 107 102 102
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Total earnings $15,041 $91,779 $102,382 $ 5,426 $98,985 $101,445 $57,297
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Fixed charges
Interest expense
(including capitalized interest) 1,267 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 398 1,233 2,133 1,070 2,103 2,100 2,000
Amortization of debt expense 3 12 12 6 107 102 102
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Total fixed charges $ 1,668 $ 8,962 $ 8,999 $ 5,400 $11,506 $ 7,552 $ 8,803
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Ratio of earnings to fixed charges 9.0 10.2 11.4 1.0 8.6 13.4 6.5
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