Exhibit 12.1
Equinix, Inc.
Computation of Consolidated Ratio of Earnings to Fixed Charges
(in thousands)
Years ended December 31,
| Pro forma(1)
| |||||||||||||||||||||||
| 2008 | 2009 | 2010 | 2011 | 2012 | 2012 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | 20,305 | $ | 109,028 | $ | 48,775 | $ | 129,052 | $ | 196,479 | $ | 96,345 | ||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense | 61,677 | 74,232 | 140,475 | 181,303 | 200,328 | 194,000 | ||||||||||||||||||
Amortization of capitalized interest | 1,650 | 1,936 | 2,186 | 2,771 | 3,851 | 3,851 | ||||||||||||||||||
Interest factor on operating leases | 15,110 | 18,408 | 29,631 | 33,536 | 34,001 | 34,001 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Subtotal | 78,437 | 94,576 | 172,292 | 217,610 | 238,180 | 231,852 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Earnings | $ | 98,742 | $ | 203,604 | $ | 221,067 | $ | 346,662 | $ | 434,659 | $ | 328,197 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 61,677 | $ | 74,232 | $ | 140,475 | $ | 181,303 | $ | 200,328 | $ | 194,000 | ||||||||||||
Capitalized interest | 7,946 | 12,853 | 10,349 | 13,578 | 30,643 | 30,643 | ||||||||||||||||||
Interest factor on operating leases | 15,110 | 18,408 | 29,631 | 33,536 | 34,001 | 34,001 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Fixed Charges | $ | 84,733 | $ | 105,493 | $ | 180,455 | $ | 228,417 | $ | 264,972 | $ | 258,644 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Ratio of Earnings to Fixed Charges | 1.2x | 1.9x | 1.2x | 1.5x | 1.6x | 1.3x | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
| (1) | Pro forma ratio of earnings to fixed charges gives effect to the sale of the notes and the application of the net proceeds therefrom to redeem our outstanding 8.125% Senior Notes due 2018. |
