Sbox Storage S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

	Year Ended December 31,															Three Months Ended March 31
	2011			2012			2013			2014			2015			2016
	(in thousands)
Earnings
Income from continuing operations before income taxes	$	47,731		$	52,932		$	37,499		$	70,419		$	752		$	17,711
Add:
Fixed charges		48,974			39,849			31,499			31,438			38,399			9,198
Subtract:
Capitalized interest		(214	)		(5	)		(6	)		(34	)		(195	)		(133	)
Earnings before fixed charges	$	96,705		$	92,781		$	68,998		$	101,857		$	39,151		$	26,909
Fixed charges:
Interest expense (1)	$	46,120		$	37,268		$	29,467		$	28,729		$	35,900		$	8,484
Capitalized interest		214			5			6			34			195			133
Interest portion of rental expense		2,640			2,576			2,026			2,675			2,304			581
Total fixed charges	$	48,974		$	39,849		$	31,499		$	31,438		$	38,399		$	9,198
Ratio of earnings to fixed charges		2.0x			2.3x			2.2x			3.2x			1.0x			2.9x