EX-12 2 irm2018630-ex12.htm EXHIBIT 12 Exhibit


EXHIBIT 12

IRON MOUNTAIN INCORPORATED

STATEMENT OF THE CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in thousands)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended
 
 
 
Year Ended December 31,
 
June 30,
 
 
 
2013
 
 
2014
 
 
2015
 
 
2016
 
 
2017
 
 
2017
 
 
2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from Continuing Operations before Provision (Benefit) for Income Taxes and Gain on Sale of Real Estate
$
159,871

 
 
$
223,373

 
 
$
162,066

 
 
$
146,644

 
 
$
216,105

 
 
$
167,658

 
 
$
167,090

 
 
 
Add:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gain on Sale of Real Estate (1)
1,847

 
 
10,512

 
 
1,059

 
 
2,310

 
 
1,565

 
 
1,563

 
 

 
 
 
Fixed Charges
335,637

 
 
345,781

 
 
344,606

 
 
417,774

 
 
470,376

 
 
234,091

 
 
259,972

 
 
 
 
$
497,355

 
 
$
579,666

 
 
$
507,731

 
 
$
566,728

 
 
$
688,046

 
 
$
403,312

 
 
$
427,062

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest Expense, Net
$
254,174

 
 
$
260,717

 
 
$
263,871

 
 
$
310,662

 
 
$
353,575

 
 
$
176,021

 
 
$
199,733

 
 
 
Interest Portion of Rent Expense
81,463

 
 
85,064

 
 
80,735

 
 
107,112

 
 
116,801

 
 
58,070

 
 
60,239

 
 
 
 
$
335,637

 
 
$
345,781

 
 
$
344,606

 
 
$
417,774

 
 
$
470,376

 
 
$
234,091

 
 
$
259,972

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
1.5

x
 
1.7

x
 
1.5

x
 
1.4

x
 
1.5

x
 
1.7

x
 
1.6

x
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Gain on sale of real estate reported above are pre-tax. The tax associated with the gain on the sale of real estate for the years ended December 31, 2013, 2014, 2015, 2016 and 2017 and for the six months ended June 30, 2017 and 2018 was $430, $2,205, $209, $130, $0, $0 and $0, respectively.