EX-12 10 ex12.txt
EXHIBIT 12 IRON MOUNTAIN INCORPORATED STATEMENT OF THE CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES (Dollars in thousands) Nine Months Ended Year Ended December 31, September 30, ------------------------------------------------------------- ----------------- 1996 1997 1998 1999 2000 2001 ---- ---- ---- ---- ---- ---- Earnings: Income (loss) from continuing operations before provision (benefit) for Income taxes & Minority Interest $ 1,792 $ (4,601) $ 3,391 $ 9,841 $ (18,032) $ (7,786) Add: Fixed charges 21,939 37,489 61,169 73,957 154,975 133,292 --------- --------- --------- --------- --------- --------- $ 23,731 $ 32,888 $ 64,560 $ 83,798 $ 136,943 $ 125,506 ========= ========= ========= ========= ========= ========= Fixed Charges: Interest Expense $ 14,901 $ 27,712 $ 45,673 $ 54,425 $ 117,975 $ 101,451 Interest Portion of rent expense 7,038 9,777 15,496 19,532 37,000 31,841 --------- --------- --------- --------- --------- --------- Ratio of earnings to fixed charges $ 21,939 $ 37,489 $ 61,169 $ 73,957 $ 154,975 $ 133,292 ========= ========= ========= ========= ========= ========= 1.1 x 0.9 x 1.1 x 1.1 x 0.9 x 0.9 x (1) (1) (1) (1) We reported a loss from continuing operations before provision (benefit) for income taxes and minority interest, for the years ended December 31, 1997 and December 31, 2000, and for the nine months ended September 30, 2001, the Company would have needed to generate additional income from operations before provision for income taxes and minority interest of $4,601, $18,032, and $7,786 to cover its fixed charges of $37,489, $154,975 and $133,292, respectively.