Exhibit 12
IRON MOUNTAIN INCORPORATED
STATEMENT OF THE CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
Year Ended December 31, Nine Months Ended
---------------------------------------------------------- September 30,
1997 1998 1999 2000 2001 2002
---------- ---------- ---------- ---------- ---------- -----------------
Earnings:
(Loss) Income from Continuing
Operations before Provision
(Benefit) for Income Taxes &
Minority Interest $(4,601) $ 3,391 $ 9,841 $(18,032) $ (8,131) $ 87,365
Add: Fixed Charges 37,489 61,169 73,957 154,975 177,032 133,328
---------- ---------- ---------- ---------- ---------- -----------------
$32,888 $64,560 $83,798 $136,943 $168,901 $220,693
========== ========== ========== ========== ========== =================
Fixed Charges:
Interest Expense $27,712 $45,673 $54,425 $117,975 $134,742 $101,685
Interest Portion of Rent Expense 9,777 15,496 19,532 37,000 42,290 31,643
---------- ---------- ---------- ---------- ---------- -----------------
$37,489 $61,169 $73,957 $154,975 $177,032 $133,328
========== ========== ========== ========== ========== =================
Ratio of Earnings to Fixed Charges 0.88x 1.06x 1.13x 0.88x 0.95x 1.66x
(1) (1) (1)
(1) We reported a loss from continuing operations before provision (benefit)
for income taxes and minority interest, for the years ended December 31,
1997, December 31, 2000, and December 31, 2001, the Company would have
needed to generate additional income from operations before provision for
income taxes and minority interest of $4,601, $18,032, and $8,131 to cover
its fixed charges of $37,489, $154,975 and $177,032, respectively.