Attached files
| file | filename |
|---|---|
| 10-K - CHECKPOINT SYSTEMS, INC. FORM 10-K - CHECKPOINT SYSTEMS INC | form10-k.htm |
| EX-21 - EXHIBIT 21 - CHECKPOINT SYSTEMS INC | ex21.htm |
| EX-32 - EXHIBIT 32 - CHECKPOINT SYSTEMS INC | ex32.htm |
| EX-23 - EXHIBIT 23 - CHECKPOINT SYSTEMS INC | ex23.htm |
| EX-31.1 - EXHIBIT 31.1 - CHECKPOINT SYSTEMS INC | ex31-1.htm |
| EX-31.2 - EXHIBIT 31.2 - CHECKPOINT SYSTEMS INC | ex31-2.htm |
EXHIBIT
12
CHECKPOINT
SYSTEMS, INC.
RATIO
OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
|
(amounts
in thousands)
|
2009
|
2008
|
2007
|
2006
|
2005
|
|
Interest
expense(1)
|
$ 8,349
|
$ 5,955
|
$ 2,534
|
$ 2,307
|
$ 4,192
|
|
Interest
factor in rental expense
|
6,128
|
5,021
|
5,102
|
4,898
|
5,673
|
|
(a) Fixed
charges, as defined
|
14,477
|
10,976
|
7,636
|
7,205
|
9,865
|
|
Earnings
(loss) from continuing operations before income taxes
|
35,985
|
(29,209)
|
70,576
|
41,975
|
40,127
|
|
Fixed
charges
|
14,477
|
10,976
|
7,636
|
7,205
|
9,865
|
|
(b) Earnings
(loss), as defined
|
$
50,462
|
$
(18,233)
|
$
78,212
|
$
49,180
|
$
49,992
|
|
(c) Ratio
of earnings to fixed charges (b / a)
|
3.5x
|
—
|
10.2x
|
6.8x
|
5.1x
|
|
(1)
|
Includes
amortization of finance costs.
|
The ratio
of earnings to fixed charges is computed by dividing earnings by fixed charges.
“Earnings” consist of earnings from continuing operations before income taxes
plus fixed charges. “Fixed Charges” consist of interest expense plus one-third
of rental expense (which amount is considered representative of the interest
factor in rental expense). Earnings, as defined, were sufficient to cover fixed
charges for all years disclosed in the above table except for 2008. Earnings in
2008 were not sufficient to cover fixed charges by approximately
$29 million.