EX-12.1 2 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Electronics For Imaging, Inc.

Computation of Ratio of Earnings to Fixed Charges

(in thousands, except for ratio of earnings to fixed charges)

 

     Years Ended December 31,      Nine Months Ended
September 30,
 
     2005        2006         2007         2008        2009         2010       

Income (loss) from continuing operations before income taxes

   $ (4,469   $ 41,531       $ 22,209       $ (133,076   $ 16,035       $ (9,410

Fixed charges:

               

Interest expense

     5,010        5,028         5,012         1,537        4         17   

Interest relating to rental expense (1)

     4,079        5,790         6,339         5,314        2,438         1,879   
                                                   

Total fixed charges

     9,089        10,818         11,351         6,851        2,442         1,896   
                                                   

Earnings available for fixed charges

   $ 4,620      $ 52,349       $ 33,560       $ (126,225   $ 18,477       $ (7,514
                                                   

Ratio of earnings to fixed charges

     N/A  (2)      4.84         2.96         N/A  (3)      7.57         N/A  (4) 
                                                   

 

(1) The representative interest portion of rental expense was deemed to be one-third of all rental expense, except for the rental expense related to the off-balance sheet financing leases, as described in the footnotes to the financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2009, which was deemed to be all interest.

 

(2) For the year ended December 31, 2005 our earnings were insufficient to cover fixed charges; the amount of additional earnings needed to cover fixed charges for 2005 was $4.5 million.

 

(3) For the year ended December 31, 2008 our earnings were insufficient to cover fixed charges; the amount of additional earnings needed to cover fixed charges for 2008 was $133.1 million.

 

(4) For the nine months ended September 30, 2010 our earnings were insufficient to cover fixed charges; the amount of additional earnings needed to cover fixed charges for 2010 was $9.4 million.