Exhibit 12.1
RATIO OF EARNINGS TO COMBINED FIXED CHARGES FOR CYRUSONE INC.
| Successor | Successor | Successor | Successor | Predecessor | |||||||||||||||||||
| (dollars in millions) | Year Ended December 31, 2016 | Year Ended December 31, 2015 | Year Ended December 31, 2014(a) | January 24 to December 31, 2013(a) | January 1, 2013 to January 23, 2013 (b) | 2012 (b) | |||||||||||||||||
| Pre-tax income (loss) from continuing operations before adjustment for noncontrolling interests/minority interests in consolidated subsidiaries or income or loss from equity investees plus fixed charges* | $ | 75.9 | $ | 27.2 | $ | 30.0 | $ | 30.8 | $ | (16.8 | ) | $ | 19.9 | ||||||||||
| Fixed charges: | |||||||||||||||||||||||
| Interest expensed and capitalized | 59.4 | 47.3 | 44.1 | 42.8 | 2.6 | 44.5 | |||||||||||||||||
Appropriate portion of rentals (c) | 2.5 | 2.5 | 2.2 | 2.2 | 0.5 | 2.9 | |||||||||||||||||
| Total fixed charges | 61.9 | 49.8 | 46.3 | 45.0 | 3.1 | 47.4 | |||||||||||||||||
Ratio of earnings to fixed charges(d)(e)(f)(g) | 1.2 | — | — | — | — | — | |||||||||||||||||
| * | Earnings used in computing the ratio of earnings to combined fixed charges consists of income from continuing operations before income taxes, adjustment for noncontrolling interests/minority interests, income/loss from equity method investees, and fixed charges except for capitalized interest. |
| (a) | Consolidated results for the year ended December 31, 2014, and the period ended January 24, 2013 to December 31, 2013, are the same for both CyrusOne Inc. and CyrusOne LP. |
| (b) | Periods represent results of the Predecessor on a “carved-out basis” from CBI for all respective periods. |
| (c) | Represents the estimated portion of operating lease expense deemed to represent interest for each respective period presented. |
| (d) | For the years ended December 31, 2015 and 2014, earnings were insufficient to cover fixed charges by $22.6 million and $16.3 million, respectively. |
| (e) | For the period ended December 31, 2013 (January 24, 2013 to December 31, 2013), earnings were insufficient to cover fixed charges by $14.2 million. |
| (f) | For the period ended January 23, 2013 (January 1, 2013 to January 23, 2013), earnings were insufficient to cover fixed charges by $19.9 million. |
| (g) | For the year ended December 31, 2012, earnings were insufficient to cover fixed charges by $27.5 million. |