DELUXE CORP - FORM 10-Q - EX-12.1

Exhibit 12.1

Deluxe Corporation
Computation of Ratio of Earnings to Fixed Charges


	Nine Months Ended
	September 30,		Year Ended December 31,
	2009		2008		2007		2006		2005		2004		2003
Earnings:

Income from continuing operations before income taxes	$	109,840	$	160,176	$	220,015	$	142,788	$	250,223	$	316,453	$	299,380

Interest expense (excluding capitalized interest)⁽¹⁾		35,542		50,421		55,294		56,661		56,604		32,851		19,241

Portion of rent expense under long-term operating leases representative of an interest factor		1,950		3,147		2,900		3,526		4,642		4,875		2,478


Total earnings	$	147,332	$	213,744	$	278,209	$	202,975	$	311,469	$	354,179	$	321,099

Fixed charges:

Interest expense (including capitalized interest)⁽¹⁾	$	35,542	$	50,421	$	55,294	$	57,051	$	57,399	$	33,299	$	19,241

Portion of rent expense under long-term operating leases representative of an interest factor		1,950		3,147		2,900		3,526		4,642		4,875		2,478


Total fixed charges	$	37,492	$	53,568	$	58,194	$	60,577	$	62,041	$	38,174	$	21,719

Ratio of earnings to fixed charges		3.9		4.0		4.8		3.4		5.0		9.3		14.8


⁽¹⁾		Does not include interest expense related to uncertain tax positions recorded under Financial Accounting Standards Board (FASB) Accounting Standards Codification topic 740. We adopted the FASB’s guidance regarding uncertsin tax positions on January 1, 2007.

DELUXE CORP - FORM 10-Q - EX-12.1 - October 29, 2009