Exhibit 12.1
Equinix, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in thousands)
| Years ended December 31, |
Three months ended March 31, |
Pro forma 2003 (2) |
||||||||||||||||||||||||||||||
| 1999 |
2000 |
2001 |
2002 |
2003 |
2003 |
2004 |
||||||||||||||||||||||||||
| Earnings: |
||||||||||||||||||||||||||||||||
| Net loss |
$ | (20,791 | ) | $ | (119,790 | ) | $ | (188,415 | ) | $ | (21,618 | ) | $ | (84,171 | ) | $ | (25,553 | ) | $ | (29,948 | ) | $ | (78,152 | ) | ||||||||
| Fixed charges: |
||||||||||||||||||||||||||||||||
| Interest expense |
3,146 | 29,111 | 43,810 | 35,098 | 20,512 | 4,812 | 4,130 | 14,493 | ||||||||||||||||||||||||
| Interest factor on operating leases |
522 | 4,847 | 8,145 | 7,558 | 8,594 | 2,148 | 2,333 | 8,594 | ||||||||||||||||||||||||
| Subtotal |
3,668 | 33,958 | 51,955 | 42,656 | 29,106 | 6,960 | 6,463 | 23,087 | ||||||||||||||||||||||||
| Total Earnings |
$ | (17,123 | ) | $ | (85,832 | ) | $ | (136,460 | ) | $ | 21,038 | $ | (55,065 | ) | $ | (18,593 | ) | $ | (23,486 | ) | $ | (55,065 | ) | |||||||||
| Fixed Charges: |
||||||||||||||||||||||||||||||||
| Fixed charges: |
||||||||||||||||||||||||||||||||
| Interest expense |
$ | 3,146 | $ | 29,111 | $ | 43,810 | $ | 35,098 | $ | 20,512 | $ | 4,812 | $ | 4,130 | $ | 14,493 | ||||||||||||||||
| Capitalized interest |
178 | 4,991 | 1,540 | 124 | — | — | — | — | ||||||||||||||||||||||||
| Interest factor on operating leases |
522 | 4,847 | 8,145 | 7,558 | 8,594 | 2,148 | 2,333 | 8,594 | ||||||||||||||||||||||||
| Total Fixed Charges |
$ | 3,846 | $ | 38,949 | $ | 53,495 | $ | 42,780 | $ | 29,106 | $ | 6,960 | $ | 6,463 | $ | 23,087 | ||||||||||||||||
| Ratio of Earnings to Fixed Charges (1) |
— | — | — | 1.0:2.0 | — | — | — | — | ||||||||||||||||||||||||
| Coverage Deficiency (1) |
$ | (20,969 | ) | $ | (124,781 | ) | $ | (189,955 | ) | $ | — | $ | (84,171 | ) | $ | (25,553 | ) | $ | (29,948 | ) | $ | (78,152 | ) | |||||||||
| (1) | Earnings were inadequate to cover fixed charges for all periods presented except for the year ended December 31, 2002. As a result, the coverage deficiency is provided for all periods presented in which earnings were inadequate to cover fixed charges. |
| (2) | The pro forma ratio of earnings to fixed charges is not presented for the three months ended March 31, 2004 since the impact of the debenture offering and related transactions are already presented within the historical results for the three months ended March 31, 2004. |