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Exhibit 12
IRON MOUNTAIN INCORPORATED
STATEMENT OF THE CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
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<Caption>
Year Ended December 31,
1999 2000 2001 2002 2003
---- ---- ---- ---- ----
Earnings:
Income (Loss) from Continuing
Operations before Provision for Income
Taxes and Minority Interest $ 9,841 $(23,291) $(28,111) $114,519 $156,989
Add: Fixed Charges 73,957 154,975 177,032 178,587 195,258
------- -------- -------- -------- --------
$83,798 $131,684 $148,921 $293,106 $352,247
======= ======== ======== ======== ========
Fixed Charges:
Interest Expense, Net $54,425 $117,975 $134,742 $136,632 $150,468
Interest Portion of Rent Expense 19,532 37,000 42,290 41,955 44,790
------- -------- -------- -------- --------
$73,957 $154,975 $177,032 $178,587 $195,258
======= ======== ======== ======== ========
Ratio of Earnings to Fixed Charges 1.1x 0.8x 0.8x 1.6x 1.8x
(1) (1)
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(1) We reported a loss from continuing operations before provision for income
taxes and minority interest for the years ended December 31, 2000 and
December 31, 2001 and we would have needed to generate additional income
from operations before provision for income taxes and minority interest of
$23,291 and $28,111, respectively to cover our fixed charges of $154,975
and $177,032, respectively.