Exhibit 12.1
RATIO OF EARNINGS TO COMBINED FIXED CHARGES FOR CYRUSONE INC. AND CYRUSONE LP
Year ended December 31, | ||||||||||||||||||||||||
(a) | (b) | (b) | (b) | (b) | (b) | |||||||||||||||||||
(dollars in millions) | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||
Pre-tax income from continuing operations before adjustment for noncontrolling interests/minority interests in consolidated subsidiaries or income or loss from equity investees plus fixed charges* | $ | 19.9 | $ | 39.4 | $ | 19.2 | $ | 13.5 | $ | 7.5 | $ | 5.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expensed and capitalized | 44.5 | 35.5 | 12.0 | 3.4 | 2.1 | 1.9 | ||||||||||||||||||
Appropriate portion of rentals | 2.9 | 2.4 | 1.2 | 0.3 | 0.2 | 0.1 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total fixed charges | 47.4 | 37.9 | 13.2 | 3.7 | 2.3 | 2.0 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Ratio of earnings to fixed charges(c) | — | 1.0 | 1.5 | 3.6 | 3.2 | 2.5 |
* | 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) | Combined results for 2012 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) | For the year ended December 31, 2012, earnings were insufficient to cover fixed charges by $27.5 million. |
1