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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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Year Ended December 31,
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2000 2001 2002 2003 2004
---- ---- ---- ---- ----
Earnings:
(Loss) Income from Continuing Operations
before Provision for Income Taxes and
Minority Interest $ (23,291) $ (28,111) $ 114,519 $ 156,989 $ 166,735
Add: Fixed Charges 154,975 177,032 178,587 195,258 240,270
--------- --------- --------- --------- ---------
$ 131,684 $ 148,921 $ 293,106 $ 352,247 $ 407,005
========= ========= ========= ========= =========
Fixed Charges:
Interest Expense, Net $ 117,975 $ 134,742 $ 136,632 $ 150,468 $ 185,749
Interest Portion of Rent Expense 37,000 42,290 41,955 44,790 54,521
--------- --------- --------- --------- ---------
$ 154,975 $ 177,032 $ 178,587 $ 195,258 $ 240,270
========= ========= ========= ========= =========
Ratio of Earnings to Fixed Charges 0.8x 0.8x 1.6x 1.8x 1.7x
(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.