**Exhibit 12.1**

 

**U-Store-It Trust**

**Computation of Ratio of Earnings to Fixed Charges**

**(dollars in thousands)**

 
| ** **                                                                                 | ** ** | **Year Ended December 31,** | ** ** |
|--------------------------------------------------------------------------------------------|------------|--------------------------------------------|------------|
| ** **                                                                                 | ** ** | **2006**                                   | ** ** | **2007** | ** ** | **2008** | ** ** | **2009** | ** ** | **2010** | ** ** |
| **Earnings before fixed charges:**                                                         |       |                                       |       |   |   |   |   |   |   |   |   |
| **Add:**                                                                                   |       |                                       |       |   |   |   |   |   |   |   |   |
| Loss from continuing operations                                                            |       | $                                          | (19,746    | ) | $ | (26,737 | ) | $ | (25,837 | ) | $ | (19,302 | ) | $ | (9,851 | ) |
| Fixed charges - per below                                                                  |       | 49,695                                     |       | 56,192 |   | 54,192 |   | 47,831 |   | 44,539 |   |
| **Less:**                                                                                  |       |                                       |       |   |   |   |   |   |   |   |   |
| Capitalized interest                                                                       |       | (35                                        | )          | (108 | ) | (99 | ) | (73 | ) | (132 | ) |
|                                                                                       |       |                                       |       |   |   |   |   |   |   |   |   |
| Earnings before fixed charges                                                              |       | 29,914                                     |       | 29,347 |   | 28,256 |   | 28,456 |   | 34,556 |   |
|                                                                                       |       |                                       |       |   |   |   |   |   |   |   |   |
| **Fixed charges:**                                                                         |       |                                       |       |   |   |   |   |   |   |   |   |
| Interest expense (including amortization premiums   and discounts related to indebtedness) |       | 47,600                                     |       | 55,880 |   | 53,943 |   | 47,608 |   | 44,257 |   |
| Early extinguishment of debt                                                               |       | 1,907                                      |       | — |   | — |   | — |   | — |   |
| Capitalized interest                                                                       |       | 35                                         |       | 108 |   | 99 |   | 73 |   | 132 |   |
| Estimate of interest within rental expense                                                 |       | 153                                        |       | 204 |   | 150 |   | 150 |   | 150 |   |
|                                                                                       |       |                                       |       |   |   |   |   |   |   |   |   |
| Total Fixed Charges                                                                        |       | 49,695                                     |       | 56,192 |   | 54,192 |   | 47,831 |   | 44,539 |   |
|                                                                                       |       |                                       |       |   |   |   |   |   |   |   |   |
| Ratio of earnings to fixed charges (a)                                                     |       | 0.60                                       |       | 0.52 |   | 0.52 |   | 0.59 |   | 0.78 |   |
|                                                                                            |            |                                            |            |  |  |  |  |  |  |  |  |  |  |  |  |  |

 

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(a)  Due to our losses in fiscal 2006, 2007, 2008, 2009 and 2010 the coverage ratio was less than 1:1.  The Company must generate additional earnings of $19.7 million, $26.7 million, $25.8 million, $19.3 million and $9.9 million to achieve a coverage of 1:1 in fiscal 2010, 2009, 2008, 2007 and 2006, repectively.

 

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