Exhibit 12
IRON MOUNTAIN INCORPORATED
STATEMENT OF THE CALCULATION OF RATIO OF EARNINGS OF FIXED CHARGES
(Dollars in thousands)
Year Ended December 31,
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1991 1992 1993 1994 1995
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Earnings:
Income (Loss) from Operations
before Provision for Income
Taxes $(1,292) $ 3,682 $ 3,656 $ 3,241 $ 1,945
Add: Fixed Charges 11,689 12,079 12,430 13,472 17,058
------- ------- ------- ------- -------
$10,397 $15,761 $16,086 $16,713 $19,003
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Fixed Charges:
Interest Expense $ 8,612 $ 8,412 $ 8,203 $ 8,954 $11,838
Interest Portion of Rent
Expense 3,077 3,667 4,227 4,518 5,220
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$11,689 $12,079 $12,430 $13,472 $17,058
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Ratio of Earnings to Fixed
Charges 0.9x(1) 1.3x 1.3x 1.2x 1.1x
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Pro Forma
-------------------------------
For the For the
Six Months Ended Year Six Months
June 30, Ended Ended
-------------------------------- December 31, June 30,
1995 1996 1995 1996
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Earnings:
Income (Loss) from Operations
before Provision for Income
Taxes $1,051 $ 1,585 $(1,576) $ (358)
Add: Fixed Charges 8,338 9,520 26,162 13,272
------ ------- ------- ------
$9,389 $11,105 $24,586 $12,914
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Fixed Charges:
Interest Expense $5,936 $ 6,385 $19,403 $ 9,699
Interest Portion of Rent
Expense 2,402 3,135 6,759 3,573
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$8,338 $ 9,520 $26,162 $13,272
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Ratio of Earnings to Fixed
Charges 1.1x 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 $11,689.
(2) On a pro forma basis, the Company would have needed to generate
additional income from continuing operations, before provision for income
taxes, of $1,576 to cover its fixed charges of $26,162.
(3) On a pro forma basis, the Company would have needed to generate
additional income from continuing operations, before provision for income
taxes, of $358 to cover its fixed charges of $13,272.