EXHIBIT 12
IRON MOUNTAIN INCORPORATED
STATEMENT OF THE CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
Three Months
Ended
Year Ended December 31, March 31,
------------------------------------------------------------ ------------
1998 1999 2000 2001 2002 2003
---- ---- ---- ---- ---- ----
Earnings:
Income (Loss) from Continuing Operations before
Provision for Income Taxes & Minority Interest $ 3,391 $ 9,841 $ (18,032) $ (8,131) $ 119,949 $ 39,922
Add: Fixed Charges 61,169 73,957 154,975 177,032 178,587 46,004
--------- --------- --------- --------- --------- ---------
$ 64,560 $ 83,798 $ 136,943 $ 168,901 $ 298,536 $ 85,926
========= ========= ========= ========= ========= =========
Fixed Charges:
Interest Expense $ 45,673 $ 54,425 $ 117,975 $ 134,742 $ 136,632 $ 35,565
Interest Portion of Rent Expense 15,496 19,532 37,000 42,290 41,955 10,439
--------- --------- --------- --------- --------- ---------
$ 61,169 $ 73,957 $ 154,975 $ 177,032 $ 178,587 $ 46,004
========= ========= ========= ========= ========= =========
Ratio of Earnings to Fixed Charges 1.1 x 1.1 x 0.9 x 1.0 x 1.7 x 1.9 x
(1) (1)
<FN>
(1) We reported a loss from continuing operations before provision for income taxes and minority interest for the years ended
December 31, 2000 and December 31, 2001 and we would have needed to generate additional income from operations before provision
for income taxes and minority interest of $18,032, and $8,131, respectively to cover our fixed charges of $154,975 and
$177,032, respectively.
</FN>