Exhibit 12
IRON MOUNTAIN INCORPORATED
STATEMENT OF THE CALCULATION OF RATIO OF EARNINGS OF FIXED CHARGES
(Dollars in thousands)
Pro Forma
------------------------
For the
Six Months Year For the
Ended Ended Six Months
Year Ended December 31, June 30, December Ended
----------------------------------------------- --------------- 31, June 30,
1991 1992 1993 1994 1995 1995 1996 1995 1996
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Earnings:
Income (Loss)
from Operations
before Provision
for Income Taxes $(1,292) $ 3,682 $ 3,656 $ 3,241 $ 1,945 $ 1,304 $ 1,585 $ (931) $ (460)
Add: Fixed
Charges 11,626 11,745 12,125 13,428 16,795 8,339 9,520 24,058 12,347
------- ------- ------- ------- ------- ------- ------- ------- --------
$10,334 $15,427 $15,781 $16,669 $18,740 $ 9,643 $11,105 $23,127 $11,887
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Fixed
Charges:
Interest Expense $8,612 $ 8,412 $ 8,203 $ 8,954 $ 11,838 $ 5,937 $ 6,385 $17,846 $ 8,921
Interest Portion
of Rent Expense 3,014 3,333 3,922 4,474 4,957 2,402 3,135 6,212 3,426
------- ------- ------- ------- ------- ------- ------- ------- --------
$11,626 $11,745 $12,125 $13,428 $ 16,795 $8,339 $ 9,520 $24,058 $ 12,347
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Ratio of
Earnings
to Fixed
Charges 0.9x(1) 1.3x 1.3x 1.2x 1.1x 1.2x 1.2x 0.9x(2) 0.9x(3)
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(1) The Company reported a pretax loss for the fiscal year ended December 31,
1991. For such period the Company would have needed to generate
additional income from continuing operations, before provision for income
taxes, of $1,292 to cover its fixed charges of $11,626.
(2) On a pro forma basis, the Company would have needed to generate
additional income from continuing operations, before provision for income
taxes, of $931 to cover its fixed charges of $24,058.
(3) On a pro forma basis, the Company would have needed to generate
additional income from continuing operations, before provision for income
taxes, of $460 to cover its fixed charges of $12,347.