EXHIBIT 12
IRON MOUNTAIN INCORPORATED
STATEMENT OF THE CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
Six Months Ended
June 30,
1996 1997 1998 1999 2000 2001
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Earnings:
Income (loss) from continuing operations
before provision (benefit) for Income
taxes & Minority Interest $ 1,792 $ (4,601) $ 3,391 $ 9,841 $ (18,032) $ 4,517
Add: Fixed charges 21,939 37,489 61,169 73,957 154,975 89,153
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$ 23,731 $ 32,888 $ 64,560 $ 83,798 $ 136,943 93,670
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Fixed Charges:
Interest Expense $ 14,901 $ 27,712 $ 45,673 $ 34,425 $ 117,975 68,030
Interest Portion of rent expense 7,038 9,777 15,496 19,532 37,000 21,123
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$ 21,939 $ 37,489 $ 61,169 $ 73,957 $ 154,975 89,153
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Ratio of earnings to fixed charges 1.1x 0.9x(1) 1.1x 1.1x 0.9x(1) 1.1x
(1) We reported a loss from continuing operations before provision (benefit)
for income taxes and minority interest for the years ended December 31,
1997 and December 30, 2000, the Company would have needed to generate
additional income from operations before provision for income taxes and
minority interest of $4,601 and $18,032 to cover its fixed charges of
$37,489 and $154,975, respectively.