EX-12.1 3 a07-5641_1ex12d1.htm EX-12.1

Exhibit 12.1

 

VISANT HOLDING CORP. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)

 

 

 

 

 

 

 

 

 

 

 

Jostens, Inc.

 

 

 

(Successor)

 

(Predecessor)

 

 

 

 

 

 

 

 

 

Five Months

 

Seven Months

 

 

 

In thousands

 

2006

 

2005

 

2004

 

2003

 

2003

 

2002

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before income taxes

 

$ 

54,089

 

$ 

28,172

 

$ 

(94,936

)

$ 

(71,384

)

$ 

17,900

 

$ 

56,875

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense (excluding capitalized interest)

 

151,484

 

126,085

 

125,569

 

51,305

 

32,083

 

68,220

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Portion of rent expense under long-term operating leases representative of an interest factor

 

2,109

 

2,056

 

2,356

 

1,118

 

640

 

1,111

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total earnings (loss)

 

$

207,682

 

$

156,313

 

$

32,989

 

$

(18,961

)

$

50,623

 

$

126,206

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense (including capitalized interest)

 

$ 

151,484

 

$ 

126,085

 

$ 

125,569

 

$ 

51,305

 

$ 

32,083

 

$ 

68,220

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Portion of rent expense under long-term operating leases representative of an interest factor

 

2,109

 

2,056

 

2,356

 

1,118

 

640

 

1,111

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

153,593

 

$

128,141

 

$

127,925

 

$

52,423

 

$

32,723

 

$

69,331

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges (1)

 

1.4x

 

1.2x

 

—

 

—

 

1.5x

 

1.8x

 

(1)          For the 2004 and the five month successor period in 2003, earnings did not cover fixed charges by $94.9 million and $71.4 million, respectively.

 

 



 

VISANT CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)

 

 

 

 

 

 

 

 

 

 

 

Jostens, Inc.

 

 

 

(Successor)

 

(Predecessor)

 

 

 

 

 

 

 

 

 

Five Months

 

Seven Months

 

 

 

In thousands

 

2006

 

2005

 

2004

 

2003

 

2003

 

2002

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before income taxes

 

$ 

98,027

 

$ 

46,348

 

$ 

(78,603

)

$ 

(70,085

)

$ 

17,900

 

$ 

56,875

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense (excluding capitalized interest)

 

107,871

 

108,040

 

109,079

 

49,990

 

32,083

 

68,220

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Portion of rent expense under long-term operating leases representative of an interest factor

 

2,109

 

2,056

 

2,356

 

1,118

 

640

 

1,111

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total earnings (loss)

 

$

208,007

 

$

156,444

 

$

32,832

 

$

(18,977

)

$

50,623

 

$

126,206

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense (including capitalized interest)

 

$ 

107,871

 

$ 

108,040

 

$ 

109,079

 

$ 

49,990

 

$ 

32,083

 

$ 

68,220

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Portion of rent expense under long-term operating leases representative of an interest factor

 

2,109

 

2,056

 

2,356

 

1,118

 

640

 

1,111

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

109,980

 

$

110,096

 

$

111,435

 

$

51,108

 

$

32,723

 

$

69,331

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges (1)

 

1.9x

 

1.4x

 

—

 

—

 

1.5x

 

1.8x

 

(1)          For the 2004 and the five month successor period in 2003, earnings did not cover fixed charges by $78.6 million and $70.1 million, respectively.