Exhibit 12.1
Equinix, Inc.
Computation of Consolidated Ratio of Earnings to Fixed Charges
(in thousands)
Years ended December 31, | Three months ended March 31, | |||||||||||||||||||||||||||
2006 | 2007 | 2008 | 2009 | 2010 | 2010 | 2011 | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income (loss) before income taxes and cumulative effect of a change in accounting principle | $ | (6,334 | ) | $ | (9,418 | ) | $ | 20,305 | $ | 109,028 | $ | 49,880 | $ | 22,876 | $ | 36,270 | ||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense | 14,630 | 32,014 | 61,677 | 74,232 | 140,475 | 25,675 | 37,361 | |||||||||||||||||||||
Interest factor on operating leases | 8,516 | 10,867 | 15,110 | 18,408 | 30,930 | 5,295 | 8,875 | |||||||||||||||||||||
Subtotal | 23,146 | 42,881 | 76,787 | 92,640 | 171,405 | 30,970 | 46,236 | |||||||||||||||||||||
Total Earnings | $ | 16,812 | $ | 33,463 | $ | 97,092 | $ | 201,668 | $ | 221,285 | $ | 53,846 | $ | 82,506 | ||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 14,630 | $ | 32,014 | $ | 61,677 | $ | 74,232 | $ | 140,475 | $ | 25,675 | $ | 37,361 | ||||||||||||||
Capitalized interest | 1,575 | 10,380 | 7,946 | 12,853 | 10,349 | 3,748 | 2,624 | |||||||||||||||||||||
Interest factor on operating leases | 8,516 | 10,867 | 15,110 | 18,408 | 30,930 | 5,295 | 8,875 | |||||||||||||||||||||
Total Fixed Charges | $ | 24,721 | $ | 53,261 | $ | 84,733 | $ | 105,493 | $ | 181,754 | $ | 34,718 | $ | 48,860 | ||||||||||||||
Ratio of Earnings to Fixed Charges | 1.5x | 1.6x | 0.9x | 0.5x | 0.8x | 0.6x | 0.6x | |||||||||||||||||||||