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RATIO OF EARNINGS TO COMBINED FIXED CHARGES FOR CYRUSONE INC.
AND CYRUSONE LP
| Successor | Predecessor | ||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
(dollars in millions) | Nine Months Ended, September 30, 2015 | Year Ended December 31, 2014(a) | January 24 to December 31, 2013(a) | January 1, 2013 to January 23, 2013(b) | Year Ended December 31, 2012(b) | Year Ended December 31, 2011(b) | Year Ended December 31, 2010(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* | $ | 15.2 | $ | 30.0 | $ | 30.8 | $ | (16.8 | ) | 19.9 | 39.4 | 19.2 | ||||||||||
Fixed charges: | ||||||||||||||||||||||
Interest expensed and capitalized | 33.4 | 44.1 | 42.8 | 2.6 | 44.5 | 35.5 | 12 | |||||||||||||||
Appropriate portion of rentals(c) | 1.8 | 2.2 | 2.2 | 0.5 | 2.9 | 2.4 | 1.2 | |||||||||||||||
Total fixed charges | 35.2 | 46.3 | 45.0 | 3.1 | 47.4 | 37.9 | 13.2 | |||||||||||||||
Ratio of earnings to fixed charges(d)(e)(f)(g)(h) | — | — | — | — | — | 1.0 | 1.5 |
- *
- 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)
- 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 period ended September 30, 2015, earnings were insufficient to cover fixed charges by $20.0 million.
- (e)
- For the year ended December 31, 2014, earnings were insufficient to cover fixed charges by $16.3 million.
- (f)
- 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.
- (g)
- 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.
- (h)
- For the year ended December 31, 2012, earnings were insufficient to cover fixed charges by $27.5 million.
RATIO OF EARNINGS TO COMBINED FIXED CHARGES FOR CYRUSONE INC. AND CYRUSONE LP