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. | |||||||||||||||
Six Months Ended June 30, | Year Ended December 31, | Six Months Ended June 30, | Year Ended December 31, | |||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Income from continuing operations before noncontrolling interests | $ | 152,802 | $ | 347,647 | $ | 152,802 | $ | 347,647 | ||||||||
Interest expense | 133,247 | 284,319 | 133,247 | 284,319 | ||||||||||||
Interest within rental expense(1) | 14,580 | 28,131 | 14,580 | 28,131 | ||||||||||||
Noncontrolling interests in consolidated joint ventures | (234 | ) | (367 | ) | (234 | ) | (367 | ) | ||||||||
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Earnings available to cover fixed charges | $ | 300,395 | $ | 659,730 | $ | 300,395 | $ | 659,730 | ||||||||
Fixed charges: | ||||||||||||||||
Interest expense | $ | 133,247 | $ | 284,319 | $ | 133,247 | $ | 284,319 | ||||||||
Interest within rental expense (1) | 14,580 | 28,131 | 14,580 | 28,131 | ||||||||||||
Capitalized interest | 17,279 | 26,704 | 17,279 | 26,704 | ||||||||||||
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Total fixed charges | 165,106 | 339,154 | 165,106 | 339,154 | ||||||||||||
Preferred stock dividends/preferred unit distributions | 43,814 | 115,010 | 43,814 | 115,010 | ||||||||||||
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Fixed charges and preferred stock dividends/preferred unit distributions | $ | 208,920 | $ | 454,164 | $ | 208,920 | $ | 454,164 | ||||||||
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Ratio of earnings to fixed charges | 1.82 | 1.95 | 1.82 | 1.95 | ||||||||||||
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Ratio of earnings to fixed charges and preferred stock dividends/preferred unit distributions | 1.44 | 1.45 | 1.44 | 1.45 | ||||||||||||
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(1) | Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest). |