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Content analysis
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Exhibit 12
IRON MOUNTAIN INCORPORATED
STATEMENT OF THE CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
|
| 2001 |
| 2002 |
| 2003 |
| 2004 |
| 2005 |
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Earnings: |
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(Loss) Income from Continuing Operations before Provision for Income Taxes and Minority Interest |
| $ | (28,111 | ) | $ | 114,519 |
| $ | 156,989 |
| $ | 166,735 |
| $ | 197,018 |
|
Add: Fixed Charges |
| 177,032 |
| 178,587 |
| 195,258 |
| 240,270 |
| 245,431 |
| |||||
|
| $ | 148,921 |
| $ | 293,106 |
| $ | 352,247 |
| $ | 407,005 |
| $ | 442,449 |
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Fixed Charges: |
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Interest Expense, Net |
| $ | 134,742 |
| $ | 136,632 |
| $ | 150,468 |
| $ | 185,749 |
| $ | 183,584 |
|
Interest Portion of Rent Expense |
| 42,290 |
| 41,955 |
| 44,790 |
| 54,521 |
| 61,847 |
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|
| $ | 177,032 |
| $ | 178,587 |
| $ | 195,258 |
| $ | 240,270 |
| $ | 245,431 |
|
Ratio of Earnings to Fixed Charges |
| 0.8 | x(1) | 1.6 | x | 1.8 | x | 1.7 | x | 1.8 | x |
(1) We reported a loss from continuing operations before provision for income taxes and minority interest for the year ended December 31, 2001 and we would have needed to generate additional income from operations before provision for income taxes and minority interest of $28,111 to cover our fixed charges of $177,032.