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, |
| | | | 2012 | | | 2013 | | | 2014 | | | 2015 | | | 2016 | | | 2016 | | | 2017 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | Earnings: | | | | | | | | | | | | | | | | | | | | | |
| | | Income from Continuing Operations before Provision (Benefit) for Income Taxes and Gain on Sale of Real Estate | $ | 296,805 |
| | | $ | 159,871 |
| | | $ | 223,373 |
| | | $ | 162,066 |
| | | $ | 146,644 |
| | | $ | 99,912 |
| | | $ | 195,946 |
| |
| | | Add: | | | | | | | | | | | | | | | | | | | | |
| | | Gain on Sale of Real Estate (1) | 261 |
| | | 1,847 |
| | | 10,512 |
| | | 1,059 |
| | | 2,310 |
| | | 359 |
| | | 1,565 |
| |
| | | Fixed Charges | 326,261 |
| | | 335,637 |
| | | 345,781 |
| | | 344,606 |
| | | 417,774 |
| | | 303,658 |
| | | 352,794 |
| |
| | | | $ | 623,327 |
| | | $ | 497,355 |
| | | $ | 579,666 |
| | | $ | 507,731 |
| | | $ | 566,728 |
| | | $ | 403,929 |
| | | $ | 550,305 |
| |
| | | | | | | | | | | | | | | | | | | | | | | |
| | Fixed Charges: | | | | | | | | | | | | | | | | | | | | |
| | | Interest Expense, Net | $ | 242,599 |
| | | $ | 254,174 |
| | | $ | 260,717 |
| | | $ | 263,871 |
| | | $ | 310,662 |
| | | $ | 225,228 |
| | | $ | 265,010 |
| |
| | | Interest Portion of Rent Expense | 83,662 |
| | | 81,463 |
| | | 85,064 |
| | | 80,735 |
| | | 107,112 |
| | | 78,430 |
| | | 87,784 |
| |
| | | | $ | 326,261 |
| | | $ | 335,637 |
| | | $ | 345,781 |
| | | $ | 344,606 |
| | | $ | 417,774 |
| | | $ | 303,658 |
| | | $ | 352,794 |
| |
| | | | | | | | | | | | | | | | | | | | | | | |
| | Ratio of Earnings to Fixed Charges | 1.9 |
| x | | 1.5 |
| x | | 1.7 |
| x | | 1.5 |
| x | | 1.4 |
| x | | 1.3 |
| x | | 1.6 |
| x |
| | | | | | | | | | | | | | | | | | | | | | | |
| | (1) Gain on sale of real estate reported above are pre-tax. The tax associated with the gain on the sale of real estate for the years ended December 31, 2012, 2013, 2014, 2015 and 2016 and for the nine months ended September 30, 2016 and 2017 was $55, $430, $2,205, $209, $130, $34 and $640, respectively. |
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