Exhibit 12.1
Digital Realty Trust, Inc. and Digital Realty Trust, L.P.
Statement of Computation of Ratios (pro forma)
(in thousands, except ratios)
Digital Realty Trust, Inc. | Digital Realty Trust, L.P. | |||||||||||||||
Three Months Ended March 31, | Year Ended December 31, | Three Months Ended March 31, | Year Ended December 31, | |||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Income from continuing operations before noncontrolling interests | $ | 71,720 | $ | 348,444 | $ | 71,720 | $ | 348,444 | ||||||||
Interest expense | 64,936 | 283,522 | 64,936 | 283,522 | ||||||||||||
Interest within rental expense(1) | 7,280 | 28,131 | 7,280 | 28,131 | ||||||||||||
Noncontrolling interests in consolidated joint ventures | (121 | ) | (367 | ) | (121 | ) | (367 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Earnings available to cover fixed charges | $ | 143,815 | $ | 659,730 | $ | 143,815 | $ | 659,730 | ||||||||
Fixed charges: | ||||||||||||||||
Interest expense | $ | 64,936 | $ | 283,522 | $ | 64,936 | $ | 283,522 | ||||||||
Interest within rental expense(1) | 7,280 | 28,131 | 7,280 | 28,131 | ||||||||||||
Capitalized interest | 4,614 | 16,324 | 4,614 | 16,324 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total fixed charges | 76,830 | 327,977 | 76,830 | 327,977 | ||||||||||||
Preferred stock dividends/distributions | 20,726 | 104,510 | 20,726 | 104,510 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Fixed charges and preferred stock dividends/distributions | $ | 97,556 | $ | 432,487 | $ | 97,556 | $ | 432,487 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Ratio of earnings to fixed charges | 1.87 | 2.01 | 1.87 | 2.01 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Ratio of earnings to fixed charges and preferred stock dividends/distributions | 1.47 | 1.53 | 1.47 | 1.53 | ||||||||||||
|
|
|
|
|
|
|
|
(1) | Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest). |