Exhibit 12.1
Digital Realty Trust, Inc. and Subsidiaries
Statement of Computation of Ratios(1)
(in thousands, except ratios)
Six Months Ended June 30, | Year Ended December 31, | |||||||||||||||||||||||||||
2012 | 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||||
Income from continuing operations before noncontrolling interests | $ | 103,231 | $ | 77,240 | $ | 162,126 | $ | 105,412 | $ | 91,234 | $ | 67,918 | $ | 22,546 | ||||||||||||||
Interest expense | 75,711 | 75,416 | 149,350 | 137,384 | 88,442 | 63,621 | 67,054 | |||||||||||||||||||||
Interest within rental expense(2) | 1,545 | 1,403 | 2,847 | 2,604 | 2,633 | 2,619 | 1,971 | |||||||||||||||||||||
Noncontrolling interests in consolidated joint ventures | 392 | 199 | 324 | 288 | (140 | ) | (335 | ) | — | |||||||||||||||||||
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Earnings available to cover fixed charges | $ | 180,879 | $ | 154,258 | $ | 314,647 | $ | 245,688 | $ | 182,169 | $ | 133,823 | $ | 91,571 | ||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense | 75,711 | 75,416 | 149,350 | $ | 137,384 | $ | 88,442 | $ | 63,621 | $ | 67,054 | |||||||||||||||||
Interest within rental expense(2) | 1,545 | 1,403 | 2,847 | 2,604 | 2,633 | 2,619 | 1,971 | |||||||||||||||||||||
Capitalized interest | 9,128 | 8,888 | 17,905 | 10,241 | 9,196 | 18,351 | 12,264 | |||||||||||||||||||||
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86,384 | 85,707 | 170,102 | 150,229 | 100,271 | 84,591 | 81,289 | ||||||||||||||||||||||
Preferred stock dividends | 19,144 | 11,235 | 25,397 | 37,004 | 40,404 | 38,564 | 19,330 | |||||||||||||||||||||
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Fixed charges and preferred stock dividends | $ | 105,528 | $ | 96,942 | $ | 195,499 | $ | 187,233 | $ | 140,675 | $ | 123,155 | $ | 100,619 | ||||||||||||||
Ratio of earnings to fixed charges | 2.09 | 1.80 | 1.85 | 1.64 | 1.82 | 1.58 | 1.13 | |||||||||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends | 1.71 | 1.59 | 1.61 | 1.31 | 1.29 | 1.09 | — | (3) | ||||||||||||||||||||
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(1) | All numbers presented in this exhibit exclude 100 Technology Center Drive (sold in March 2007) and 4055 Valley View Lane (sold in March 2007). |
(2) | Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest). |
(3) | For the year ended December 31, 2007, earnings were insufficient to cover fixed charges and preferred dividends by $9,048. |
Digital Realty Trust, L.P. and Subsidiaries
Statement of Computation of Ratios(1)
(in thousands, except ratios)
Six Months Ended June 30, | Year Ended December 31, | |||||||||||||||||||||||||||
2012 | 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||||
Income from continuing operations before noncontrolling interests | $ | 103,231 | $ | 77,240 | $ | 162,126 | $ | 105,412 | $ | 91,234 | $ | 67,918 | $ | 22,546 | ||||||||||||||
Interest expense | 75,711 | 75,416 | 149,350 | 137,384 | 88,442 | 63,621 | 67,054 | |||||||||||||||||||||
Interest within rental expense(2) | 1,545 | 1,403 | 2,847 | 2,604 | 2,633 | 2,619 | 1,971 | |||||||||||||||||||||
Noncontrolling interests in consolidated joint ventures | 392 | 199 | 324 | 288 | (140 | ) | (335 | ) | — | |||||||||||||||||||
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Earnings available to cover fixed charges | $ | 180,879 | $ | 154,258 | $ | 314,647 | $ | 245,688 | $ | 182,169 | $ | 133,823 | $ | 91,571 | ||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense | 75,711 | 75,416 | 149,350 | $ | 137,384 | $ | 88,442 | $ | 63,621 | $ | 67,054 | |||||||||||||||||
Interest within rental expense(2) | 1,545 | 1,403 | 2,847 | 2,604 | 2,633 | 2,619 | 1,971 | |||||||||||||||||||||
Capitalized interest | 9,128 | 8,888 | 17,905 | 10,241 | 9,196 | 18,351 | 12,264 | |||||||||||||||||||||
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86,384 | 85,707 | 170,102 | 150,229 | 100,271 | 84,591 | 81,289 | ||||||||||||||||||||||
Preferred unit distributions | 19,144 | 11,235 | 25,397 | 37,004 | 40,404 | 38,564 | 19,330 | |||||||||||||||||||||
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Fixed charges and preferred unit distributions | $ | 105,528 | $ | 96,942 | $ | 195,499 | $ | 187,233 | $ | 140,675 | $ | 123,155 | $ | 100,619 | ||||||||||||||
Ratio of earnings to fixed charges | 2.09 | 1.80 | 1.85 | 1.64 | 1.82 | 1.58 | 1.13 | |||||||||||||||||||||
Ratio of earnings to fixed charges and preferred unit distributions | 1.71 | 1.59 | 1.61 | 1.31 | 1.29 | 1.09 | — | (3) | ||||||||||||||||||||
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(1) | All numbers presented in this exhibit exclude 100 Technology Center Drive (sold in March 2007) and 4055 Valley View Lane (sold in March 2007). |
(2) | Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest). |
(3) | For the year ended December 31, 2007, earnings were insufficient to cover fixed charges and preferred distributions by $9,048. |