EXHIBIT 12
PIERCE LEAHY CORP.
RATIO OF EARNINGS TO FIXED CHARGES CALCULATION
REGISTRATION STATEMENT
Year ended December 31, Six months ended June 30,
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Pro forma Pro forma
1993 1994 1995 1996 1997 1997 1997 1998 1998
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EARNINGS:
Income (loss) before income
taxes and extraordinary items $ 2,972 $ 1,200 $ 5,347 $ 2,523 $(1,737) $(12,368) $ (39) $(4,529) $(6,121)
Plus: Fixed Charges 9,850 11,303 14,321 22,894 36,179 49,504 18,395 23,638 26,248
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Adjusted Earnings $12,822 $12,503 $19,668 $25,417 $34,442 $ 37,136 $18,356 $19,109 $20,127
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FIXED CHARGES:
Interest Expense $ 6,160 $ 7,216 $ 9,622 $17,225 $29,262 $ 42,587 $14,855 $18,683 $21,293
Rent Expense 3,690 4,087 4,699 5,669 6,917 6,917 3,540 4,955 4,955
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Total $ 9,850 $11,303 $14,321 $22,894 $36,179 $ 49,504 $18,395 $23,638 $26,248
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EARNINGS TO FIXED CHARGE RATIO 1.30x 1.11x 1.37x 1.11x(1)(1,737) (1)(12,368) (1)(39) (1)(4,529) (1)(6,121)
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(1) Earnings were inadequate to cover fixed changes by the amount indicated.