Exhibit 12.1
Equinix, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in thousands)
| Years ended December 31, | Three months ended March 31, | ||||||||||||||||||||||||
| 2004 | 2005 | 2006 | 2007 | 2008 | 2008 | 2009 | |||||||||||||||||||
| Earnings: |
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| Income (loss) before income taxes and cumulative effect of a change in accounting principle |
$ | (68,478 | ) | $ | (42,069 | ) | $ | (6,334 | ) | $ | (9,419 | ) | $ | 20,305 | $ | 4,268 | $ | 27,065 | |||||||
| Fixed charges: |
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| Interest expense |
11,572 | 8,905 | 14,630 | 32,015 | 61,677 | 15,195 | 13,451 | ||||||||||||||||||
| Interest factor on operating leases |
9,251 | 8,828 | 8,516 | 10,867 | 15,110 | 3,772 | 3,977 | ||||||||||||||||||
| Subtotal |
20,823 | 17,733 | 23,146 | 42,882 | 76,787 | 18,967 | 17,428 | ||||||||||||||||||
| Total Earnings |
$ | (47,655 | ) | $ | (24,337 | ) | $ | 16,812 | $ | 33,463 | $ | 97,092 | $ | 23,235 | $ | 44,493 | |||||||||
| Fixed Charges: |
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| Fixed charges: |
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| Interest expense |
$ | 11,572 | $ | 8,905 | $ | 14,630 | $ | 32,015 | $ | 61,677 | $ | 15,195 | $ | 13,451 | |||||||||||
| Capitalized interest |
— | — | 1,575 | 10,380 | 7,946 | 1,985 | 3,959 | ||||||||||||||||||
| Interest factor on operating leases |
9,251 | 8,828 | 8,516 | 10,867 | 15,110 | 3,772 | 3,977 | ||||||||||||||||||
| Total Fixed Charges |
$ | 20,823 | $ | 17,733 | $ | 24,721 | $ | 53,262 | $ | 84,733 | $ | 20,952 | $ | 21,387 | |||||||||||
| Ratio of Earnings to Fixed Charges (1) |
— | — | 1.0:1.5 | 1.0:1.6 | 1.0:0.9 | 1.0:0.9 | 1.0:0.5 | ||||||||||||||||||
| Coverage Deficiency (1) |
$ | (68,478 | ) | $ | (42,069 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||
| (1) | Earnings were inadequate to cover fixed charges for the years ended December 31, 2004 and 2005. As a result, the coverage deficiency is provided for those periods presented in which earnings were inadequate to cover fixed charges. |