We consider the following problem: given an undirected weighted graph G = (V , E, c) with nonnegative weights, minimize function c(δ( )) − λ| | for all values of parameter λ. Here is a partition of the set of nodes, the first term is the cost of edges whose endpoints belong to different components of the partition, and | | is the number of components. The current best known algorithm for this problem has complexity O(|V | 2 ) maximum flow computations. We improve it to |V | parametric maximum flow computations. We observe that the complexity can be improved further for families of graphs which admit a good separator, e.g. for planar graphs.