Exhibit 12.1
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, |
|
Three Months |
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2002 |
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2003 |
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2004 |
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2005 |
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2006 |
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March 31, 2007 |
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Earnings: |
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|
|
|
|
|
|
|
|
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|
Income from Continuing Operations before Provision for Income Taxes and Minority Interest |
|
$ |
114,519 |
|
$ |
156,989 |
|
$ |
166,735 |
|
$ |
197,018 |
|
$ |
224,218 |
|
|
$ |
57,181 |
|
|
|
Add: Fixed Charges |
|
178,587 |
|
195,258 |
|
240,270 |
|
245,431 |
|
264,211 |
|
|
68,818 |
|
|
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|
|
|
$ |
293,106 |
|
$ |
352,247 |
|
$ |
407,005 |
|
$ |
442,449 |
|
$ |
488,429 |
|
|
$ |
125,999 |
|
|
|
Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
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Interest Expense, Net(1) |
|
$ |
136,632 |
|
$ |
150,468 |
|
$ |
185,749 |
|
$ |
183,584 |
|
$ |
194,958 |
|
|
$ |
50,335 |
|
|
|
Interest Portion of Rent Expense |
|
41,955 |
|
44,790 |
|
54,521 |
|
61,847 |
|
69,253 |
|
|
18,483 |
|
|
||||||
|
|
|
$ |
178,587 |
|
$ |
195,258 |
|
$ |
240,270 |
|
$ |
245,431 |
|
$ |
264,211 |
|
|
$ |
68,818 |
|
|
|
Ratio of Earnings to Fixed Charges |
|
1.6 |
x |
1.8 |
x |
1.7 |
x |
1.8 |
x |
1.8 |
x |
|
1.8 |
x |
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(1) Does not include interest expense related to uncertain tax positions.