Digital Realty Trust (DLR) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	May 07, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-32336
Entity Registrant Name	DIGITAL REALTY TRUST, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	26-0081711
Entity Address, Address Line One	Four Embarcadero Center, Suite 3200
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94111
City Area Code	415
Local Phone Number	738-6500
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		268,313,039
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Central Index Key	0001297996
Current Fiscal Year End Date	--12-31
Digital Realty Trust, L.P.
Entity Information [Line Items]
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Entity File Number	000-54023
Entity Registrant Name	DIGITAL REALTY TRUST, L.P.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	20-2402955
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth	false
Entity Shell Company	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Central Index Key	0001494877
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	DLR
Security Exchange Name	NYSE
Series C Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Series C Cumulative Redeemable Perpetual Preferred Stock
Trading Symbol	DLR Pr C
Security Exchange Name	NYSE
Series G Cumulative Redeemable Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Series G Cumulative Redeemable Preferred Stock
Trading Symbol	DLR Pr G
Security Exchange Name	NYSE
Series I Cumulative Redeemable Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Series I Cumulative Redeemable Preferred Stock
Trading Symbol	DLR Pr I
Security Exchange Name	NYSE
Series J Cumulative Redeemable Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Series J Cumulative Redeemable Preferred Stock
Trading Symbol	DLR Pr J
Security Exchange Name	NYSE
Series K Cumulative Redeemable Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Series K Cumulative Redeemable Preferred Stock
Trading Symbol	DLR Pr K
Security Exchange Name	NYSE
Series L Cumulative Redeemable Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Series L Cumulative Redeemable Preferred Stock
Trading Symbol	DLR Pr L
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Properties:
Land	$ 1,146,048	$ 804,830
Acquired ground leases	10,247	10,725
Buildings and improvements	18,685,951	15,449,884
Tenant improvements	635,046	621,153
Total investments in operating properties	20,477,292	16,886,592
Accumulated depreciation and amortization	(4,694,713)	(4,536,169)
Net investments in operating properties	15,782,579	12,350,423
Construction in progress and space held for development	2,204,867	1,732,555
Land held for future development	137,447	147,597
Net investments in properties	18,124,893	14,230,575
Investments in unconsolidated joint ventures	1,064,009	1,287,109
Net investments in real estate	19,188,902	15,517,684
Operating lease right-of-use assets, net	1,364,621	628,681
Cash and cash equivalents	246,480	89,817
Accounts and other receivables, net	527,699	305,501
Deferred rent	484,179	478,744
Acquired above-market leases, net	66,033	74,815
Goodwill	7,466,046	3,363,070
Customer relationship value, deferred leasing netcosts and intangibles,	3,500,588	2,195,324
Assets held for sale	0	229,934
Other assets	268,752	184,561
Total assets	33,113,300	23,068,131
LIABILITIES AND EQUITY
Unsecured senior notes, net of discount	10,637,006	8,973,190
Secured debt, including premiums	239,800	104,934
Operating lease liabilities	1,431,292	693,539
Accounts payable and other accrued liabilities	1,732,318	1,007,761
Accrued dividends and distributions	0	234,620
Acquired below-market leases, net	145,208	148,774
Security deposits and prepaid rents	336,583	208,724
Obligations associated with assets held for sale	0	2,700
Total liabilities	15,896,733	12,418,566
Redeemable noncontrolling interests	40,027	41,465
Stockholders' Equity:
Preferred stock/units	1,434,420	1,434,420
Common Stock: $0.01 par value per share, 392,000,000 and 315,000,000 shares authorized as of March 31, 2020 and December 31, 2019, respectively, 263,595,562 and 208,900,758 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively	2,622	2,073
Partners' capital:
Additional paid-in capital	18,606,766	11,577,320
Accumulated dividends in excess of earnings	(3,139,350)	(3,046,579)
Accumulated other comprehensive loss, net	(444,222)	(87,922)
Total stockholders' equity	16,460,236	9,879,312
Noncontrolling Interests:
Noncontrolling interests in operating partnership	656,266	708,163
Noncontrolling interests in consolidated joint ventures	60,038	20,625
Total noncontrolling interests	716,304	728,788
Total equity	17,176,540	10,608,100
Total liabilities and equity/capital	33,113,300	23,068,131
Digital Realty Trust, L.P.
Properties:
Land	1,146,048	804,830
Acquired ground leases	10,247	10,725
Buildings and improvements	18,685,951	15,449,884
Tenant improvements	635,046	621,153
Total investments in operating properties	20,477,292	16,886,592
Accumulated depreciation and amortization	(4,694,713)	(4,536,169)
Net investments in operating properties	15,782,579	12,350,423
Construction in progress and space held for development	2,204,867	1,732,555
Land held for future development	137,447	147,597
Net investments in properties	18,124,893	14,230,575
Investments in unconsolidated joint ventures	1,064,009	1,287,109
Net investments in real estate	19,188,902	15,517,684
Operating lease right-of-use assets, net	1,364,621	628,681
Cash and cash equivalents	246,480	89,817
Accounts and other receivables, net	527,699	305,501
Deferred rent	484,179	478,744
Acquired above-market leases, net	66,033	74,815
Goodwill	7,466,046	3,363,070
Customer relationship value, deferred leasing netcosts and intangibles,	3,500,588	2,195,324
Assets held for sale	0	229,934
Other assets	268,752	184,561
Total assets	33,113,300	23,068,131
LIABILITIES AND EQUITY
Unsecured senior notes, net of discount	10,637,006	8,973,190
Secured debt, including premiums	239,800	104,934
Operating lease liabilities	1,431,292	693,539
Accounts payable and other accrued liabilities	1,732,318	1,007,761
Accrued dividends and distributions	0	234,620
Acquired below-market leases, net	145,208	148,774
Security deposits and prepaid rents	336,583	208,724
Obligations associated with assets held for sale	0	2,700
Total liabilities	15,896,733	12,418,566
Redeemable noncontrolling interests	40,027	41,465
Commitments and contingencies
Stockholders' Equity:
Preferred stock/units	1,434,420	1,434,420
Partners' capital:
Common units, 263,595,562 and 208,900,758 units issued and outstanding as of March 31, 2020 and December 31, 2019, respectively	15,470,038	8,532,814
Limited Partners, 8,473,386 and 8,843,155 units issued and outstanding as of March 31, 2020 and December 31, 2019, respectively	673,051	711,650
Accumulated other comprehensive loss, net	(461,007)	(91,409)
Total partners' capital	17,116,502	10,587,475
Noncontrolling Interests:
Noncontrolling interests in consolidated joint ventures	60,038	20,625
Total capital	17,176,540	10,608,100
Total liabilities and equity/capital	33,113,300	23,068,131
Global revolving credit facilities, net
LIABILITIES AND EQUITY
Line of credit	603,101	234,105
Global revolving credit facilities, net | Digital Realty Trust, L.P.
LIABILITIES AND EQUITY
Line of credit	603,101	234,105
Unsecured term loans, net
LIABILITIES AND EQUITY
Line of credit	771,425	810,219
Unsecured term loans, net | Digital Realty Trust, L.P.
LIABILITIES AND EQUITY
Line of credit	$ 771,425	$ 810,219

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Preferred stock, par value (in dollars per share/unit)	$ 0.01	$ 0.01
Preferred stock, authorized (shares)	110,000,000	110,000,000
Preferred stock, issued (shares)	58,250,000	58,250,000
Preferred stock, outstanding (shares)	58,250,000	58,250,000
Common stock, par value (in dollars per share/unit)	$ 0.01	$ 0.01
Common stock, authorized (shares)	392,000,000	315,000,000
Common stock, shares, issued (shares)	263,595,562	208,900,758
Common stock, shares, outstanding (shares)	263,595,562	208,900,758
Liquidation preference	$ 1,456,250	$ 1,456,250
Preferred stock, liquidation preference per share (in dollars per share)	$ 25	$ 25
Digital Realty Trust, L.P.
Preferred stock, issued (shares)	58,250,000	58,250,000
Preferred units, outstanding (units)	58,250,000	58,250,000
Common units, issued (units)	263,595,562	208,900,758
Common units, outstanding (units)	263,595,562	208,900,758
Liquidation preference	$ 1,456,250	$ 1,456,250
Preferred stock, liquidation preference per share (in dollars per share)	$ 25	$ 25
Limited Partners' units, issued (units)	8,473,386	8,843,155
Limited Partners' units outstanding (units)	8,473,386	8,843,155

CONDENSED CONSOLIDATED INCOME S

CONDENSED CONSOLIDATED INCOME STATEMENTS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating Revenues:
Total operating revenues	$ 823,337	$ 814,515
Operating Expenses:
Rental property operating and maintenance	265,708	254,954
Property taxes and insurance	45,670	40,306
Depreciation and amortization	291,457	311,486
General and administrative	63,538	53,459
Transactions and integration	56,801	2,494
Impairment of investments in real estate	0	5,351
Other	114	4,922
Total operating expenses	723,288	672,972
Operating income	100,049	141,543
Other Income (Expenses):
Equity in (loss) earnings of unconsolidated joint ventures	(78,996)	9,217
Gain on deconsolidation, net	0	67,497
Gain on disposition of properties, net	304,801	0
Interest and other income (expense), net	(3,542)	21,444
Interest expense	(85,800)	(101,552)
Income tax expense	(7,182)	(4,266)
Loss from early extinguishment of debt	(632)	(12,886)
Net income	228,698	120,997
Net loss (income) attributable to noncontrolling interests	(4,684)	(4,185)
Net income attributable to Digital Realty Trust, Inc./Digital Realty Trust, L.P.	224,014	116,812
Preferred units distributions, including undeclared distributions	(21,155)	(20,943)
Net income available to common unitholders	$ 202,859	$ 95,869
Net income per unit available to common unitholders:
Basic (in dollars per share/unit)	$ 0.91	$ 0.46
Diluted (in dollars per share/unit)	$ 0.90	$ 0.46
Weighted average common units outstanding:
Basic (shares/units)	222,163,324	207,809,383
Diluted (shares/units)	224,474,295	208,526,249
Digital Realty Trust, L.P.
Operating Revenues:
Total operating revenues	$ 823,337	$ 814,515
Operating Expenses:
Rental property operating and maintenance	265,708	254,954
Property taxes and insurance	45,670	40,306
Depreciation and amortization	291,457	311,486
General and administrative	63,538	53,459
Transactions and integration	56,801	2,494
Impairment of investments in real estate	0	5,351
Other	114	4,922
Total operating expenses	723,288	672,972
Operating income	100,049	141,543
Other Income (Expenses):
Equity in (loss) earnings of unconsolidated joint ventures	(78,996)	9,217
Gain on deconsolidation, net	0	67,497
Gain on disposition of properties, net	304,801	0
Interest and other income (expense), net	(3,542)	21,444
Interest expense	(85,800)	(101,552)
Income tax expense	(7,182)	(4,266)
Loss from early extinguishment of debt	(632)	(12,886)
Net income	228,698	120,997
Net loss (income) attributable to noncontrolling interests	3,116	115
Net income attributable to Digital Realty Trust, Inc./Digital Realty Trust, L.P.	231,814	121,112
Preferred units distributions, including undeclared distributions	(21,155)	(20,943)
Net income available to common unitholders	$ 210,659	$ 100,169
Net income per unit available to common unitholders:
Basic (in dollars per share/unit)	$ 0.91	$ 0.46
Diluted (in dollars per share/unit)	$ 0.90	$ 0.46
Weighted average common units outstanding:
Basic (shares/units)	230,442,659	217,039,295
Diluted (shares/units)	232,753,630	217,756,161
Rental and other services
Operating Revenues:
Total operating revenues	$ 820,072	$ 812,030
Rental and other services | Digital Realty Trust, L.P.
Operating Revenues:
Total operating revenues	820,072	812,030
Fee income and other
Operating Revenues:
Total operating revenues	3,265	2,485
Fee income and other | Digital Realty Trust, L.P.
Operating Revenues:
Total operating revenues	$ 3,265	$ 2,485

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net income	$ 228,698	$ 120,997
Other comprehensive income (loss):
Foreign currency translation adjustments	(357,202)	9,193
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty	0	21,687
Decrease in fair value of interest rate swaps	(11,838)	(3,775)
Reclassification to interest expense from interest rate swaps	(558)	(2,094)
Other comprehensive income (loss)	(369,598)	25,011
Comprehensive (loss) income	(140,900)	146,008
Comprehensive loss (income) attributable to noncontrolling interests	8,613	(5,249)
Comprehensive (loss) income attributable to Digital Realty Trust, Inc./Digital Realty Trust, L.P.	(132,287)	140,759
Digital Realty Trust, L.P.
Net income	228,698	120,997
Other comprehensive income (loss):
Foreign currency translation adjustments	(357,202)	9,193
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty	0	21,687
Decrease in fair value of interest rate swaps	(11,838)	(3,775)
Reclassification to interest expense from interest rate swaps	(558)	(2,094)
Other comprehensive income (loss)	(369,598)	25,011
Comprehensive (loss) income	(140,900)	146,008
Comprehensive loss (income) attributable to noncontrolling interests	3,116	115
Comprehensive (loss) income attributable to Digital Realty Trust, Inc./Digital Realty Trust, L.P.	$ (137,784)	$ 146,123

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (unaudited) - USD ($) $ in Thousands	General PartnerPreferred UnitsDigital Realty Trust, L.P.	General PartnerCommon UnitsDigital Realty Trust, L.P.	Limited PartnersCommon UnitsDigital Realty Trust, L.P.	Total Partners' CapitalDigital Realty Trust, L.P.Interest Rate Swap	Total Partners' CapitalDigital Realty Trust, L.P.	Redeemable InterestsDigital Realty Trust, L.P.	Accumulated other comprehensive income (loss), netDigital Realty Trust, L.P.Interest Rate Swap	Accumulated other comprehensive income (loss), netDigital Realty Trust, L.P.	Noncontrolling Interests in Consolidated Joint VenturesDigital Realty Trust, L.P.	Digital Realty Trust, L.P.Interest Rate Swap	Digital Realty Trust, L.P.	Redeemable Noncontrolling Interests -- Operating Partnership	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Dividends in Excess of Earnings	Accumulated other comprehensive income (loss), netInterest Rate Swap	Accumulated other comprehensive income (loss), net	Total Stockholders' EquityInterest Rate Swap	Total Stockholders' Equity	Noncontrolling Interests in Operating PartnershipInterest Rate Swap	Noncontrolling Interests in Operating Partnership	Noncontrolling Interests in Consolidated Joint Ventures	Total Noncontrolling InterestsInterest Rate Swap	Total Noncontrolling Interests	Interest Rate Swap	Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Number of units (units)	50,650,000	206,425,656	10,580,884
Beginning balance at Dec. 31, 2018												$ 15,832	$ 1,249,560	$ 2,051	$ 11,355,751	$ (2,633,071)		$ (115,647)		$ 9,858,644		$ 906,510	$ 93,056		$ 999,566		$ 10,858,210
Beginning balance (shares) at Dec. 31, 2018														206,425,656
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of common units to common stock														$ 15	135,994					136,009		(136,009)			(136,009)
Conversion of common units to common stock (shares)														1,517,876
Issuance of unvested restricted stock, net of forfeitures (shares)														245,373
Common stock offering costs															(375)					(375)							(375)
Issuance of common stock, net of offering costs (shares)	(8,400,000)	0
Shares issued under employee stock purchase plan		$ 2,259			$ 2,259						$ 2,259				2,259					2,259							2,259
Shares issued under employee stock purchase plan (shares)		25,234												25,234
Issuance of preferred stock, net of offering costs	$ (203,423)				(203,423)						(203,423)		203,423							203,423							203,423
Amortization of unearned compensation on share-based awards		$ 8,400			8,400						8,400				8,400					8,400							8,400
Reclassification of vested share-based awards															(7,320)					(7,320)		7,320			7,320
Adjustment to redeemable noncontrolling interests												1,943			(1,943)					(1,943)							(1,943)
Dividends declared on preferred stock																(20,329)				(20,329)							(20,329)
Dividends and distributions on common stock and common and incentive units												(169)				(224,802)				(224,802)		(10,181)			(10,181)		(234,983)
Contributions from noncontrolling interests in consolidated joint ventures, net of distributions																							28,219		28,219		28,219
Net income (loss)	20,329	$ 96,483	$ 4,228		121,040	$ 72			$ (115)		120,925	72				116,812				116,812		4,228	(115)		4,113		120,925
Other comprehensive income (loss)-foreign currency translation adjustments					30,880			$ 30,880	0		30,880							29,567		29,567		1,313			1,313		30,880
Decrease in other assets related to change in fair value of interest rate swaps				$ (3,775)			$ (3,775)			$ (3,775)	(3,775)						$ (3,614)		$ (3,614)		$ (161)			$ (161)		$ (3,775)	(3,775)
Other comprehensive loss-reclassification of accumulated other comprehensive income to interest expense					(2,094)			(2,094)			(2,094)							(2,005)		(2,005)		(89)			(89)		(2,094)
Ending balance at Mar. 31, 2019												17,678	1,452,983	$ 2,066	11,492,766	(2,767,708)		(91,699)		10,088,408		$ 772,931	121,160		894,091		10,982,499
Ending balance (shares) at Mar. 31, 2019														208,214,139
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of limited partner common units to general partner common units (units)		1,517,876	(1,517,876)
Noncontrolling interests in operating partnership converted to shares of common stock		$ 136,009	$ (136,009)																								136,009
Issuance of unvested restricted stock, net of forfeitures (units)		245,373
Payment of offering costs		$ (375)			(375)						(375)
Issuance of common units, net of forfeitures (units)			410,451
Reclassification of vested share-based awards		(7,320)	$ 7,320
Adjustment to redeemable noncontrolling interests		(1,943)			(1,943)	1,943					(1,943)
Partners' Capital Account, Distributions	$ (20,329)	(224,802)	$ (10,181)		(255,312)	(169)					(255,312)
Distributions From Noncontrolling Interests In Consolidated Joint Ventures Subsidiary									(28,219)		(28,219)
Cumulative effect adjustment from adoption of new accounting standard		$ (6,318)			(6,318)						(6,318)					(6,318)				(6,318)							$ (6,318)
Number of units (units)	59,050,000	208,214,139	9,473,459
Number of units (units)	58,250,000	208,900,758	8,843,155																			217,743,913					208,900,758
Beginning balance at Dec. 31, 2019												41,465	1,434,420	$ 2,073	11,577,320	(3,046,579)		(87,922)		9,879,312		$ 708,163	20,625		728,788		$ 10,608,100
Beginning balance (shares) at Dec. 31, 2019														208,900,758
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of common units to common stock														$ 6	52,231					52,237		(52,237)			(52,237)
Conversion of common units to common stock (shares)														592,953
Common units and share-based awards issued in connection with InterXion combination		$ 6,975,252			6,975,252						6,975,252
Common units and share-based awards issued in connection with InterXion combination (in shares)		54,298,595
Issuance of common stock, net of offering costs															6,505					6,505							6,505
Issuance of common stock, net of offering costs (shares)														50,000
Shares issued under employee stock purchase plan		$ 2,638			2,638						2,638				2,638					2,638							2,638
Shares issued under employee stock purchase plan (shares)		25,234												25,234
Shares repurchased and retired to satisfy tax withholding upon vesting		$ (3,068)			(3,068)						(3,068)				(4,318)					(4,318)							(4,318)
Amortization of unearned compensation on share-based awards		$ 14,430			14,430						14,430				15,680					15,680							15,680
Vesting of restricted stock, net (shares)		(271,978)												(271,978)
Reclassification of vested share-based awards															(15,007)					(15,007)		15,007			15,007
Adjustment to redeemable noncontrolling interests												2,992			(2,992)					(2,992)							(2,992)
Dividends declared on preferred stock																(21,155)				(21,155)							(21,155)
Dividends and distributions on common stock and common and incentive units												(175)				(295,630)				(295,630)		(9,022)			(9,022)		(304,652)
Contributions from noncontrolling interests in consolidated joint ventures, net of distributions												1,052											39,476		39,476		39,476
Net income (loss)	$ 21,155	$ 202,859	$ 7,653		231,667	(2,906)			(63)		231,604	(2,906)				224,014				224,014		7,653	(63)		7,590		231,604
Other comprehensive income (loss)-foreign currency translation adjustments					(357,202)	(2,401)		(357,202)	0		(357,202)	(2,401)						(344,350)		(344,350)		(12,852)			(12,852)		(357,202)
Decrease in other assets related to change in fair value of interest rate swaps				$ (11,838)			$ (11,838)			$ (11,838)	(11,838)						$ (11,412)		$ (11,412)		$ (426)			$ (426)		$ (11,838)	(11,838)
Common stock and share-based awards issued in connection with InterXion combination														$ 543	6,974,709					6,975,252							6,975,252
Common stock and share-based awards issued in connection with InterXion combination (shares)														54,298,595
Other comprehensive loss-reclassification of accumulated other comprehensive income to interest expense					(558)			$ (558)			(558)							(538)		(538)		(20)			(20)		(558)
Ending balance at Mar. 31, 2020												$ 40,027	$ 1,434,420	$ 2,622	$ 18,606,766	$ (3,139,350)		$ (444,222)		$ 16,460,236		$ 656,266	$ 60,038		$ 716,304		17,176,540
Ending balance (shares) at Mar. 31, 2020														263,595,562
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of limited partner common units to general partner common units (units)		592,953	(592,953)
Noncontrolling interests in operating partnership converted to shares of common stock		$ 52,237	$ (52,237)																								$ 52,237
Issuance of common units, net of forfeitures (units)			223,184
Reclassification of vested share-based awards		(15,007)	$ 15,007
Adjustment to redeemable noncontrolling interests		(2,992)			(2,992)	2,992					(2,992)
Partners' Capital Account, Distributions	$ (21,155)	$ (295,630)	$ (9,022)		$ (325,807)	(175)					(325,807)
Distributions From Noncontrolling Interests In Consolidated Joint Ventures Subsidiary						$ (1,052)			$ (39,476)		$ (39,476)
Number of units (units)	58,250,000	263,595,562	8,473,386																			272,068,948					263,595,562

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CAPITAL (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance (units)	208,900,758
Conversion of limited partner common units to general partner common units	$ 52,237	$ 136,009
Issuance of common units in connection with business combinations	6,975,252
Units issued in connection with employee stock purchase plan	2,638	2,259
Units repurchased and retired to satisfy tax withholding upon vesting	(4,318)
Issuance of preferred units, net of offering costs		203,423
Amortization of unearned compensation on share-based awards	15,680	8,400
Adjustment to redeemable noncontrolling interests	(2,992)	(1,943)
Contributions from noncontrolling interests in consolidated joint ventures, net of distributions	39,476	28,219
Cumulative effect adjustment from adoption of new accounting standard		(6,318)
Net income	228,698	120,997
Net income (loss)	231,604	120,925
Other comprehensive income (loss)-foreign currency translation adjustments	(357,202)	30,880
Decrease in other assets related to change in fair value of interest rate swaps	(11,838)	(3,775)
Other comprehensive loss-reclassification of accumulated other comprehensive income to interest expense	$ (558)	(2,094)
Ending balance (units)	263,595,562
Interest Rate Swap
Increase (Decrease) in Partners' Capital [Roll Forward]
Decrease in other assets related to change in fair value of interest rate swaps	$ (11,838)	(3,775)
Noncontrolling Interests in Consolidated Joint Ventures
Increase (Decrease) in Partners' Capital [Roll Forward]
Contributions from noncontrolling interests in consolidated joint ventures, net of distributions	39,476	28,219
Net income (loss)	(63)	(115)
Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	10,608,100	10,858,210
Common units and share-based awards issued in connection with InterXion combination	6,975,252
Issuance of common unit, net of offering costs	6,505
Payment of offering costs		(375)
Units issued in connection with employee stock purchase plan	2,638	2,259
Units repurchased and retired to satisfy tax withholding upon vesting	(3,068)
Issuance of preferred units, net of offering costs		(203,423)
Amortization of unearned compensation on share-based awards	14,430	8,400
Adjustment to redeemable noncontrolling interests	(2,992)	(1,943)
Distributions	(325,807)	(255,312)
Contributions from noncontrolling interests in consolidated joint ventures, net of contributions	39,476	28,219
Cumulative effect adjustment from adoption of new accounting standard		(6,318)
Net income	228,698	120,997
Net income (loss)	231,604	120,925
Other comprehensive income (loss)-foreign currency translation adjustments	(357,202)	30,880
Decrease in other assets related to change in fair value of interest rate swaps	(11,838)	(3,775)
Other comprehensive loss-reclassification of accumulated other comprehensive income to interest expense	(558)	(2,094)
Ending balance	17,176,540	10,982,499
Digital Realty Trust, L.P. | Interest Rate Swap
Increase (Decrease) in Partners' Capital [Roll Forward]
Decrease in other assets related to change in fair value of interest rate swaps	(11,838)	(3,775)
Redeemable Interests | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	41,465	15,832
Adjustment to redeemable noncontrolling interests	2,992	1,943
Distributions	(175)	(169)
Contributions from noncontrolling interests in consolidated joint ventures, net of contributions	1,052
Net income (loss)	(2,906)	72
Other comprehensive income (loss)-foreign currency translation adjustments	(2,401)
Ending balance	40,027	17,678
Accumulated other comprehensive income (loss), net | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	(91,409)	(120,393)
Other comprehensive income (loss)-foreign currency translation adjustments	(357,202)	30,880
Other comprehensive loss-reclassification of accumulated other comprehensive income to interest expense	(558)	(2,094)
Ending balance	(461,007)	(95,382)
Accumulated other comprehensive income (loss), net | Digital Realty Trust, L.P. | Interest Rate Swap
Increase (Decrease) in Partners' Capital [Roll Forward]
Decrease in other assets related to change in fair value of interest rate swaps	(11,838)	(3,775)
Total Partners' Capital | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	10,587,475	10,765,154
Common units and share-based awards issued in connection with InterXion combination	6,975,252
Issuance of common unit, net of offering costs	6,505
Payment of offering costs		(375)
Units issued in connection with employee stock purchase plan	2,638	2,259
Units repurchased and retired to satisfy tax withholding upon vesting	(3,068)
Issuance of preferred units, net of offering costs		(203,423)
Amortization of unearned compensation on share-based awards	14,430	8,400
Adjustment to redeemable noncontrolling interests	(2,992)	(1,943)
Distributions	(325,807)	(255,312)
Cumulative effect adjustment from adoption of new accounting standard		(6,318)
Net income (loss)	231,667	121,040
Other comprehensive income (loss)-foreign currency translation adjustments	(357,202)	30,880
Other comprehensive loss-reclassification of accumulated other comprehensive income to interest expense	(558)	(2,094)
Ending balance	17,116,502	10,861,339
Total Partners' Capital | Digital Realty Trust, L.P. | Interest Rate Swap
Increase (Decrease) in Partners' Capital [Roll Forward]
Decrease in other assets related to change in fair value of interest rate swaps	(11,838)	(3,775)
Noncontrolling Interests in Consolidated Joint Ventures | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	20,625	93,056
Contributions from noncontrolling interests in consolidated joint ventures, net of contributions	39,476	28,219
Net income (loss)	(63)	(115)
Other comprehensive income (loss)-foreign currency translation adjustments	0	0
Ending balance	60,038	121,160
General Partner | Preferred Units | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	$ 1,434,420	$ 1,249,560
Beginning balance (units)	58,250,000	50,650,000
Issuance of preferred units, net of offering costs		$ (203,423)
Issuance of preferred units, net of offering costs (units)		(8,400,000)
Distributions	$ (21,155)	$ (20,329)
Net income (loss)	21,155	20,329
Ending balance	$ 1,434,420	$ 1,452,983
Ending balance (units)	58,250,000	59,050,000
General Partner | Common Units | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	$ 8,532,814	$ 8,724,731
Beginning balance (units)	208,900,758	206,425,656
Conversion of limited partner common units to general partner common units	$ 52,237	$ 136,009
Conversion of limited partner common units to general partner common units (units)	592,953	1,517,876
Common units and share-based awards issued in connection with InterXion combination	$ 6,975,252
Common units and share-based awards issued in connection with InterXion combination (in shares)	54,298,595
Issuance of unvested restricted stock, net of forfeitures (units)		245,373
Issuance of common unit, net of offering costs	$ 6,505
Issuance of common units, net of offering costs (in units)	50,000
Payment of offering costs		$ (375)
Units issued in connection with employee stock purchase plan	$ 2,638	$ 2,259
Units issued in connection with employee stock purchase plan (units)	25,234	25,234
Units repurchased and retired to satisfy tax withholding upon vesting	$ (3,068)
Issuance of preferred units, net of offering costs (units)		0
Amortization of unearned compensation on share-based awards	14,430	$ 8,400
Reclassification of vested share-based awards	(15,007)	(7,320)
Adjustment to redeemable noncontrolling interests	(2,992)	(1,943)
Distributions	(295,630)	(224,802)
Cumulative effect adjustment from adoption of new accounting standard		(6,318)
Net income (loss)	202,859	96,483
Ending balance	$ 15,470,038	$ 8,727,124
Ending balance (units)	263,595,562	208,214,139
Limited Partners | Common Units | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	$ 711,650	$ 911,256
Beginning balance (units)	8,843,155	10,580,884
Conversion of limited partner common units to general partner common units	$ (52,237)	$ (136,009)
Conversion of limited partner common units to general partner common units (units)	(592,953)	(1,517,876)
Issuance of common units, net of forfeitures (units)	223,184	410,451
Reclassification of vested share-based awards	$ 15,007	$ 7,320
Distributions	(9,022)	(10,181)
Net income (loss)	7,653	4,228
Ending balance	$ 673,051	$ 776,614
Ending balance (units)	8,473,386	9,473,459

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income	$ 228,698	$ 120,997
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on deconsolidation / disposition of properties, net	(304,801)	(67,497)
Unrealized loss (gain) on marketable equity security	5,395	(2,405)
Impairment of investments in real estate	0	5,351
Equity in loss (earnings) of unconsolidated joint ventures	78,996	(9,217)
Distributions from unconsolidated joint ventures	3,938	5,667
Write-off due to early lease terminations	113	4,922
Depreciation and amortization of buildings and improvements, tenant improvements and acquired ground leases	214,889	207,552
Amortization of customer relationship value, acquired in-place lease value and	76,568	103,934
Amortization of share-based compensation	14,549	7,592
Non-cash amortization of terminated swaps	262	262
Allowance for doubtful accounts	3,148	6,093
Amortization of deferred financing costs	4,260	4,493
Loss on early extinguishment of debt	632	1,808
Amortization of debt discount/premium	920	737
Amortization of acquired above-market leases and acquired below-market leases, net	3,294	6,210
Changes in assets and liabilities:
Accounts and other receivables	19,287	(50,256)
Deferred rent	(11,374)	(13,426)
Deferred leasing costs	(8,579)	(8,032)
Other assets	(34,612)	(35,123)
Accounts payable, operating lease liabilities and other accrued liabilities	(63,714)	49,576
Security deposits and prepaid rents	(5,209)	11,462
Net cash provided by operating activities	226,660	350,700
Cash flows from investing activities:
Improvements to investments in real estate	(377,295)	(389,266)
Deconsolidation of Ascenty cash	0	(97,081)
Proceeds from the joint venture transactions	0	702,439
Cash assumed in acquisition	116,738	0
Acquisitions of real estate	(313,265)	(9,083)
Proceeds from sale of assets, net of sales costs	526,362	0
Investment in unconsolidated joint ventures	(77,500)	(25,049)
Prepaid construction costs and other investments	0	(8,040)
Improvement advances to tenants	(16,211)	(24,878)
Collection of improvement advances to tenants	3,728	16,649
Net cash (used in) provided by investing activities	(137,443)	165,691
Cash flows from financing activities:
Borrowings on global revolving credit facilities	1,167,521	1,346,495
Repayments on global revolving credit facilities	(910,656)	(2,144,075)
Repayments on unsecured term loans	0	(375,000)
Borrowings on unsecured senior notes	1,801,377	1,427,159
Principal payments on secured debt	(125)	(156)
Payment of loan fees and costs	(10,871)	(7,793)
Premium paid for early extinguishment of debt	0	(11,078)
Capital contributions from noncontrolling interests in consolidated joint ventures, net	34,813	28,219
Proceeds from common and preferred stock offerings, net	2,187	203,048
Proceeds from equity plans	2,638	2,259
Payment of dividends to preferred stockholders	(21,155)	(20,329)
Payment of dividends to common stockholders and distributions to noncontrolling interests in operating partnership	(539,447)	(452,393)
Repayments on unsecured senior notes	(1,435,272)	(500,000)
Net cash provided by (used in) financing activities	91,010	(503,644)
Net increase in cash, cash equivalents and restricted cash	180,227	12,747
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(18,781)	(13,960)
Cash, cash equivalents and restricted cash at beginning of period	97,253	135,222
Cash, cash equivalents and restricted cash at end of period	258,699	134,009
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amounts capitalized	110,121	104,073
Cash paid for income taxes	6,640	3,253
Supplementary disclosure of noncash investing and financing activities:
Change in net assets related to foreign currency translation adjustments	(357,202)	30,880
Decrease in other assets related to change in fair value of interest rate swaps	(11,838)	(3,775)
Noncontrolling interests in operating partnership converted to shares of common stock	52,237	136,009
Accrual for additions to investments in real estate and tenant improvement advances included in accounts payable and accrued expenses	180,225	196,462
Decrease to goodwill and deferred tax liability (classified within accounts payable and other accrued liabilities)		(9,436)
Allocation of purchase price of real estate/investment in partnership to:
Investments in real estate	372,516	0
Cash and cash equivalents	8,190	0
Accounts receivables	3,114	0
Customer relationship value and intangibles	68,406	0
Other assets	843	0
Secured debt	(135,000)	0
Accounts payables and other accrued liabilities	(4,602)	0
Acquired below-market leases	(2,540)	0
Noncontrolling interests in consolidated joint venture	(5,715)	0
Cash paid for acquisition of real estate	305,212	0
Allocation of purchase price to business combinations:
Operating lease right-of-use assets, net	1,364,621
Goodwill	7,466,046
Deconsolidation of Ascenty and consolidated joint venture:
Investment in real estate	(19,188,902)
Account receivables	(527,699)
Goodwill	(7,466,046)
Other assets	(268,752)
Secured debt	239,800
Accounts payable and other accrued liabilities	1,732,318
Non-controlling interest in consolidated joint venture	1,064,009
Accumulated other comprehensive loss, net	(444,222)
Deconsolidation of Ascenty cash	0	(97,081)
InterXion
Allocation of purchase price to business combinations:
Land	310,310	0
Buildings and improvements	3,003,378	0
Construction in progress	311,702	0
Land held for development	33,447	0
Operating lease right-of-use assets, net	526,399	0
Cash and cash equivalents	108,548	0
Accounts receivable	218,868	0
Goodwill	4,192,504	0
Customer relationship value	1,340,539	0
Goodwill	4,123,226
Operating lease liabilities	(526,399)	0
Accounts payable and other accrued liabilities	(278,542)	0
Deferred tax liability	(595,795)	0
Other working capital liabilities, net	(32,443)	0
Deconsolidation of Ascenty and consolidated joint venture:
Goodwill	(4,123,226)
InterXion | Global revolving credit facilities, net
Allocation of purchase price to business combinations:
Long term debt	(128,282)	0
InterXion | Unsecured Debt
Allocation of purchase price to business combinations:
Long term debt	(1,434,666)	0
InterXion | Secured Debt
Allocation of purchase price to business combinations:
Long term debt	(74,316)	0
Preferred Stock | InterXion
Allocation of purchase price to business combinations:
Equity consideration	6,975,252	0
Digital Realty Trust, L.P.
Cash flows from operating activities:
Net income	228,698	120,997
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on deconsolidation / disposition of properties, net	(304,801)	(67,497)
Unrealized loss (gain) on marketable equity security	5,395	(2,405)
Impairment of investments in real estate	0	5,351
Equity in loss (earnings) of unconsolidated joint ventures	78,996	(9,217)
Distributions from unconsolidated joint ventures	3,938	5,667
Write-off due to early lease terminations	113	4,922
Depreciation and amortization of buildings and improvements, tenant improvements and acquired ground leases	214,889	207,552
Amortization of customer relationship value, acquired in-place lease value and	76,568	103,934
Amortization of share-based compensation	14,549	7,592
Non-cash amortization of terminated swaps	262	262
Allowance for doubtful accounts	3,148	6,093
Amortization of deferred financing costs	4,260	4,493
Loss on early extinguishment of debt	632	1,808
Amortization of debt discount/premium	920	737
Amortization of acquired above-market leases and acquired below-market leases, net	3,294	6,210
Changes in assets and liabilities:
Accounts and other receivables	19,287	(50,256)
Deferred rent	(11,374)	(13,426)
Deferred leasing costs	(8,579)	(8,032)
Other assets	(34,612)	(35,123)
Accounts payable, operating lease liabilities and other accrued liabilities	(63,714)	49,576
Security deposits and prepaid rents	(5,209)	11,462
Net cash provided by operating activities	226,660	350,700
Cash flows from investing activities:
Improvements to investments in real estate	(377,295)	(389,266)
Deconsolidation of Ascenty cash	0	(97,081)
Proceeds from the joint venture transactions	0	702,439
Cash assumed in acquisition	116,738	0
Acquisitions of real estate	(313,265)	(9,083)
Proceeds from sale of assets, net of sales costs	526,362	0
Investment in unconsolidated joint ventures	(77,500)	(25,049)
Prepaid construction costs and other investments	0	(8,040)
Improvement advances to tenants	(16,211)	(24,878)
Collection of improvement advances to tenants	3,728	16,649
Net cash (used in) provided by investing activities	(137,443)	165,691
Cash flows from financing activities:
Borrowings on global revolving credit facilities	1,167,521	1,346,495
Repayments on global revolving credit facilities	(910,656)	(2,144,075)
Repayments on unsecured term loans	0	(375,000)
Borrowings on unsecured senior notes	1,801,377	1,427,159
Repayments on unsecured senior notes	(1,435,272)	(500,000)
Principal payments on secured debt	(125)	(156)
Payment of loan fees and costs	(10,871)	(7,793)
Premium paid for early extinguishment of debt	0	(11,078)
Capital contributions from noncontrolling interests in consolidated joint ventures, net	34,813	28,219
General partner contributions	4,825	205,307
Payment of dividends to preferred stockholders	(21,155)	(20,329)
Payment of dividends to common stockholders and distributions to noncontrolling interests in operating partnership	(539,447)	(452,393)
Net cash provided by (used in) financing activities	91,010	(503,644)
Net increase in cash, cash equivalents and restricted cash	180,227	12,747
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(18,781)	(13,960)
Cash, cash equivalents and restricted cash at beginning of period	97,253	135,222
Cash, cash equivalents and restricted cash at end of period	258,699	134,009
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amounts capitalized	110,121	104,073
Cash paid for income taxes	6,640	3,253
Supplementary disclosure of noncash investing and financing activities:
Change in net assets related to foreign currency translation adjustments	(357,202)	30,880
Decrease in other assets related to change in fair value of interest rate swaps	(11,838)	(3,775)
Limited Partner common units converted to General Partner common units	52,237	136,009
Accrual for additions to investments in real estate and tenant improvement advances included in accounts payable and accrued expenses	180,225	196,462
Decrease to goodwill and deferred tax liability (classified within accounts payable and other accrued liabilities)	0	(9,436)
Allocation of purchase price of real estate/investment in partnership to:
Investments in real estate	372,516	0
Cash and cash equivalents	8,190	0
Accounts receivables	3,114	0
Customer relationship value and intangibles	68,406	0
Other assets	843	0
Secured debt	(135,000)	0
Accounts payables and other accrued liabilities	(4,602)	0
Acquired below-market leases	(2,540)	0
Noncontrolling interests in consolidated joint venture	(5,715)	0
Cash paid for acquisition of real estate	305,212	0
Allocation of purchase price to business combinations:
Operating lease right-of-use assets, net	1,364,621
Goodwill	7,466,046
Deconsolidation of Ascenty and consolidated joint venture:
Investment in real estate	(19,188,902)
Account receivables	(527,699)
Goodwill	(7,466,046)
Other assets	(268,752)
Secured debt	239,800
Accounts payable and other accrued liabilities	1,732,318
Non-controlling interest in consolidated joint venture	1,064,009
Accumulated other comprehensive loss, net	(461,007)
Deconsolidation of Ascenty cash	0	(97,081)
Digital Realty Trust, L.P. | InterXion
Allocation of purchase price to business combinations:
Land	310,310	0
Buildings and improvements	3,003,378	0
Construction in progress	311,702	0
Land held for development	33,447	0
Operating lease right-of-use assets, net	526,399	0
Cash and cash equivalents	108,548	0
Accounts receivable	218,868	0
Goodwill	4,192,504	0
Long term debt	(128,282)	0
Operating lease liabilities	(526,399)	0
Accounts payable and other accrued liabilities	(278,542)	0
Deferred tax liability	(595,795)	0
Other working capital liabilities, net	(32,443)	0
Equity consideration	6,975,252	0
Digital Realty Trust, L.P. | InterXion | Global revolving credit facilities, net
Allocation of purchase price to business combinations:
Customer relationship value	1,340,539	0
Digital Realty Trust, L.P. | InterXion | Unsecured Debt
Allocation of purchase price to business combinations:
Long term debt	(1,434,666)	0
Digital Realty Trust, L.P. | InterXion | Mortgage notes payable and unsecured debt
Allocation of purchase price to business combinations:
Long term debt	$ (74,316)	0
Ascenty Acquisition
Cash flows from investing activities:
Deconsolidation of Ascenty cash		(97,081)
Allocation of purchase price to business combinations:
Goodwill		967,189
Contribution of assets and liabilities to unconsolidated joint venture:
Recognition of retained investment in unconsolidated joint ventures		727,439
Deconsolidation of Ascenty and consolidated joint venture:
Investment in real estate		(362,951)
Account receivables		(24,977)
Acquired in-place lease value, deferred leasing costs and intangibles		(480,128)
Goodwill		(967,189)
Other assets		(31,099)
Secured debt		571,873
Accounts payable and other accrued liabilities		72,449
Accumulated other comprehensive loss, net		(21,687)
Deconsolidation of Ascenty cash		(97,081)
Net carrying value of assets and liabilities contributed		(1,340,790)
Recognition of retained investment in unconsolidated joint ventures		727,439
Ascenty Acquisition | Digital Realty Trust, L.P.
Cash flows from investing activities:
Deconsolidation of Ascenty cash		(97,081)
Allocation of purchase price to business combinations:
Goodwill		967,189
Contribution of assets and liabilities to unconsolidated joint venture:
Recognition of retained investment in unconsolidated joint ventures		727,439
Deconsolidation of Ascenty and consolidated joint venture:
Investment in real estate		(362,951)
Account receivables		(24,977)
Acquired in-place lease value, deferred leasing costs and intangibles		(480,128)
Goodwill		(967,189)
Other assets		(31,099)
Secured debt		571,873
Accounts payable and other accrued liabilities		72,449
Accumulated other comprehensive loss, net		(21,687)
Deconsolidation of Ascenty cash		(97,081)
Net carrying value of assets and liabilities contributed		(1,340,790)
Recognition of retained investment in unconsolidated joint ventures		$ 727,439

Organization and Description of

Organization and Description of Business	3 Months Ended
	Mar. 31, 2020
Organization and Description of Business
Organization and Description of Business	1. Organization and Description of Business Digital Realty Trust, Inc. through its controlling interest in Digital Realty Trust, L.P. (the Operating Partnership) and the subsidiaries of the Operating Partnership (collectively, we, our, us or the Company) is a leading global provider of data center, colocation and interconnection solutions for customers across a variety of industry verticals ranging from cloud and information technology services, communications and social networking to financial services, manufacturing, energy, healthcare, and consumer products. The Operating Partnership, a Maryland limited partnership, is the entity through which Digital Realty Trust, Inc., a Maryland corporation, conducts its business of owning, acquiring, developing and operating data centers. Digital Realty Trust, Inc. operates as a REIT for federal income tax purposes. A summary of our data center portfolio as of March 31, 2020 and December 31, 2019 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Data Centers ​ ​ As of March 31, 2020 (1) ​ As of December 31, 2019 ​ ​ Unconsolidated ​ ​ ​ ​ Unconsolidated ​ Region ​ Operating ​ Joint Ventures ​ Total ​ Operating ​ Held for Sale (2) ​ Joint Ventures ​ Total United States ​ 120 ​ 16 ​ 136 ​ 119 ​ 11 ​ 17 ​ 147 Europe 41 ​ — 41 41 ​ — — 41 Latin America — ​ 19 19 — ​ — 19 19 Asia 5 ​ 5 10 5 ​ — 5 10 Australia 5 ​ — 5 5 ​ — — 5 Canada 2 ​ — 2 2 ​ 1 — 3 Total 173 ​ 40 213 172 ​ 12 41 ​ 225 (1) Excludes 62 data centers that were acquired as part of the Interxion Combination. (2) Includes 10 Powered Base Building® properties, which comprise 12 data centers, that were held for sale to a third party as of December 31, 2019 and subsequently sold in January 2020 (see Note 4). ​ We are diversified in major metropolitan areas where data center and technology customers are concentrated, including the Atlanta, Boston, Chicago, Dallas, Los Angeles, New York, Northern Virginia, Phoenix, San Francisco, Seattle, Silicon Valley and Toronto metropolitan areas in North America, the Amsterdam, Dublin, Frankfurt, London and Paris metropolitan areas in Europe (excluding Interxion’s portfolio), the Fortaleza, Rio de Janeiro, Santiago and São Paulo metropolitan areas in Latin America, and the Hong Kong, Melbourne, Osaka, Seoul, Singapore, Sydney, and Tokyo metropolitan areas in the Asia Pacific region. The portfolio consists of data centers, Internet gateway facilities and office and other non-data center space. The Operating Partnership was formed on July 21, 2004 in anticipation of Digital Realty Trust, Inc.’s initial public offering (IPO) on November 3, 2004 and commenced operations on that date. As of March 31, 2020, Digital Realty Trust, Inc. owned a 96.9% common interest and a 100.0% preferred interest in the Operating Partnership. As of December 31, 2019, Digital Realty Trust, Inc. owned a 95.9% common interest and a 100.0% preferred interest in the Operating Partnership. As sole general partner of the Operating Partnership, Digital Realty Trust, Inc. has the full, exclusive and complete responsibility for the Operating Partnership’s day-to-day management and control. The limited partners of the Operating Partnership do not have rights to replace Digital Realty Trust, Inc. as the general partner nor do they have participating rights, although they do have certain protective rights. As used in these Notes: “DFT” refers to DuPont Fabros Technology, Inc.; “DFT Merger” refers to the Company’s acquisition of DuPont Fabros Technology, Inc.; “DFT Operating Partnership” refers to DuPont Fabros Technology, L.P.; “European Portfolio Acquisition” refers to the Company’s acquisition of a portfolio of eight data centers in Europe; “InterXion” refers to InterXion Holding N.V.; “InterXion Combination” refers to the Company’s combination with InterXion Holding N.V.; and “Telx Acquisition” refers to the Company’s acquisition of Telx Holdings, Inc.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies (a) Principles of Consolidation and Basis of Presentation The accompanying interim condensed consolidated financial statements include all of the accounts of Digital Realty Trust, Inc., the Operating Partnership and the subsidiaries of the Operating Partnership. Intercompany balances and transactions have been eliminated. The accompanying interim condensed consolidated financial statements are unaudited, but have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) for interim financial information and in compliance with the rules and regulations of the U.S. Securities and Exchange Commission. Accordingly, they do not include all of the disclosures required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments necessary for a fair presentation have been included. All such adjustments are considered to be of a normal recurring nature, except as otherwise indicated. The results of operations for the interim periods are not necessarily indicative of the results to be obtained for the full fiscal year. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our annual report on Form 10-K for the year ended December 31, 2019. The notes to the condensed consolidated financial statements of Digital Realty Trust, Inc. and the Operating Partnership have been combined to provide the following benefits: ● enhancing investors’ understanding of the Company and the Operating Partnership by enabling investors to view the business as a whole in the same manner as management views and operates the business; ● eliminating duplicative disclosure and providing a more streamlined and readable presentation since a substantial portion of the disclosure applies to both the Company and the Operating Partnership; and ● creating time and cost efficiencies through the preparation of one set of notes instead of two separate sets of notes. There are few differences between the Company and the Operating Partnership, which are reflected in these condensed consolidated financial statements. We believe it is important to understand the differences between the Company and the Operating Partnership in the context of how we operate as an interrelated consolidated company. Digital Realty Trust, Inc.’s only material asset is its ownership of partnership interests of the Operating Partnership. As a result, Digital Realty Trust, Inc. generally does not conduct business itself, other than acting as the sole general partner of the Operating Partnership, issuing public securities from time to time and guaranteeing certain unsecured debt of the Operating Partnership and certain of its subsidiaries and affiliates. Digital Realty Trust, Inc. itself has not issued any indebtedness but guarantees the unsecured debt of the Operating Partnership and certain of its subsidiaries and affiliates, as disclosed in these notes. The Operating Partnership holds substantially all the assets of the Company and holds the ownership interests in the Company’s joint ventures. The Operating Partnership conducts the operations of the business and is structured as a partnership with no publicly traded equity. Except for net proceeds from public equity issuances by Digital Realty Trust, Inc., which are generally contributed to the Operating Partnership in exchange for partnership units, the Operating Partnership generally generates the capital required by the Company’s business primarily through the Operating Partnership’s operations, by the Operating Partnership’s or its affiliates’ direct or indirect incurrence of indebtedness or through the issuance of partnership units. The presentation of noncontrolling interests in operating partnership, stockholders’ equity and partners’ capital are the main areas of difference between the condensed consolidated financial statements of Digital Realty Trust, Inc. and those of the Operating Partnership. The common limited partnership interests held by the limited partners in the Operating Partnership are presented as limited partners’ capital within partners’ capital in the Operating Partnership’s condensed consolidated financial statements and as noncontrolling interests in operating partnership within equity in Digital Realty Trust, Inc.’s condensed consolidated financial statements. The common and preferred partnership interests held by Digital Realty Trust, Inc. in the Operating Partnership are presented as general partner’s capital within partners’ capital in the Operating Partnership’s condensed consolidated financial statements and as preferred stock, common stock, additional paid-in capital and accumulated dividends in excess of earnings within stockholders’ equity in Digital Realty Trust, Inc.’s condensed consolidated financial statements. The differences in the presentations between stockholders’ equity and partners’ capital result from the differences in the equity issued at the Digital Realty Trust, Inc. and the Operating Partnership levels. To help investors understand the significant differences between the Company and the Operating Partnership, these consolidated financial statements present the following separate sections for each of the Company and the Operating Partnership: ● condensed consolidated face financial statements; and ● the following notes to the condensed consolidated financial statements: ● "Debt of the Company" and "Debt of the Operating Partnership"; ● "Income per Share" and "Income per Unit"; and ● "Equity and Accumulated Other Comprehensive Loss, Net of the Company" and "Capital and Accumulated Other Comprehensive Loss of the Operating Partnership". In the sections that combine disclosure of Digital Realty Trust, Inc. and the Operating Partnership, these notes refer to actions or holdings as being actions or holdings of the Company. Although the Operating Partnership is generally the entity that enters into contracts and joint ventures and holds assets and debt, reference to the Company is appropriate because the business is one enterprise and the Company generally operates the business through the Operating Partnership. (b) Cash Equivalents For the purpose of the condensed consolidated statements of cash flows, we consider short-term investments with original maturities of 90 days or less to be cash equivalents. As of March 31, 2020 and December 31, 2019, cash equivalents consist of investments in money market instruments. (c) Investments in Unconsolidated Joint Ventures The Company’s investments in unconsolidated joint ventures are accounted for using the equity method. We use the equity method when we have the ability to exercise significant influence over operating and financial policies of the venture but do not have control of the entity. Under the equity method, we initially recognize these investments in the balance sheet at our cost or proportionate share of fair value. We subsequently adjust the accounts to reflect our proportionate share of net earnings or losses recognized and other comprehensive income or loss, distributions received, contributions made and certain other adjustments, as appropriate. We do not record losses of the joint ventures in excess of our investment balances unless we are liable for the obligations of the joint venture or are otherwise committed to provide financial support to the joint venture. Likewise, and as long as we have no explicit or implicit obligations to the joint venture, we will suspend equity method accounting to the extent that cash distributions exceed our investment balances until those unrecorded earnings exceed the excess distributions previously recognized in income. In this case, we will apply cost accounting concepts which result in income being equal to cash distributions received. Cost basis accounting concepts will apply until earnings exceed the excess distributions previously recognized in income. We amortize the difference between the cost of our investment in the joint ventures and the book value of the underlying equity into income on a straight-line basis consistent with the lives of the underlying assets. In the event the underlying asset is goodwill, the difference is not amortized. The amortization of this difference was immaterial for the three months ended March 31, 2020 and 2019, respectively. (d) Impairment of Long-Lived and Finite-Lived Intangible Assets We review each of our properties for indicators that its carrying amount may not be recoverable. Examples of such indicators may include a significant decrease in the market price of the property, a change in the expected holding period for the property, a significant adverse change in how the property is being used or expected to be used based on the underwriting at the time of acquisition, an accumulation of costs significantly in excess of the amount originally expected for the acquisition or development of the property, or a history of operating or cash flow losses of the property. When such impairment indicators exist, we review an estimate of the future undiscounted net cash flows (excluding interest charges) expected to result from the property’s or asset group’s use and eventual disposition and compare that estimate to the carrying value of the property or the asset group. We consider factors such as future operating income, trends and prospects, as well as the effects of leasing demand, competition and other factors. If our future undiscounted net cash flow evaluation indicates that we are unable to recover the carrying value of a property or asset group, an impairment loss is recorded to the extent that the carrying value exceeds the estimated fair value of the property or fair value of the properties within the asset group. The evaluation of anticipated cash flows is highly subjective and is based in part on assumptions regarding future occupancy, rental rates and capital requirements that could differ materially from actual results in future periods. If we determine that the asset fails the recoverability test, the affected assets must be reduced to their fair value. We generally estimate the fair value of rental properties utilizing a discounted cash flow analysis that includes projections of future revenues, expenses and capital improvement costs that a market participant would use based on the highest and best use of the asset, which is similar to the income approach that is commonly utilized by appraisers. In certain cases, we may supplement this analysis by obtaining outside broker opinions of value. In considering whether to classify a property as held for sale or contribution, the Company considers whether: (i) management has committed to a plan to sell or contribute the property; (ii) the property is available for immediate sale or contribution in its present condition; (iii) the Company has initiated a program to locate a buyer or joint venture partner; (iv) the Company believes that the sale or contribution of the property is probable; (v) the Company is actively marketing the property for sale or contribution at a price that is reasonable in relation to its current value; and (vi) actions required for the Company to complete the plan indicate that it is unlikely that any significant changes will be made to the plan. If all the above criteria are met, the Company classifies the property as held for sale or contribution. Assets classified as held for sale are expected to be sold to a third party and assets classified as held for contribution are expected to be contributed to an unconsolidated joint venture or to a third party within twelve months. At such time, the respective assets and liabilities are presented separately in the consolidated balance sheets and depreciation is no longer recognized. Assets held for sale or contribution are reported at the lower of their carrying amount or their estimated fair value less the costs to sell or contribute. Only those assets held for sale or contribution that constitute a strategic shift that has or will have a major effect on our operations are classified as discontinued operations. To date we have had no property dispositions or assets classified as held for sale or contribution that would meet the definition of discontinued operations. If impairment indicators arise with respect to intangible assets with finite useful lives, we evaluate impairment by comparing the carrying amount of the asset to the estimated future undiscounted net cash flows expected to be generated by the asset. If estimated future undiscounted net cash flows are less than the carrying amount of the asset, then we estimate the fair value of the asset and compare the estimated fair value to the intangible asset’s carrying value. We recognize any shortfall from carrying value as an impairment loss in the current period. (e) Acquisition Accounting Acquisition accounting is applied to the assets and liabilities related to all real estate investments acquired from third parties. The Company evaluates the nature of the purchase to determine whether the purchase is a business combination or an asset acquisition. Transaction costs associated with business combinations are expensed as incurred while transaction costs associated with an asset acquisition are included in the total costs of the acquisition and are allocated on a pro-rata basis to the carrying value of the assets and liabilities recognized in connection with the acquisition. The following accounting policies related to valuing the acquired tangible and intangible assets and liabilities are applicable to both business combinations and asset acquisitions. However, in the event the purchase is an asset acquisition, no goodwill or gain is permitted to be recognized. In an asset acquisition, the difference between the sum of the identified tangible and intangible assets and liabilities and the total purchase price (including transactions costs) is allocated to the identified tangible and intangible assets and liabilities on a relative fair value basis. In accordance with current accounting guidance , The fair values of the tangible assets of an acquired property are determined based on comparable land sales for land and replacement costs adjusted for physical and market obsolescence for the improvements. The fair values of the tangible assets of an acquired property are also determined by valuing the property as if it were vacant, and the “as-if-vacant” value is then allocated to land, building and tenant improvements based on management’s determination of the relative fair values of these assets. Management determines the as-if-vacant fair value of a property based on assumptions that a market participant would use, which is similar to methods used by independent appraisers. Factors considered by management in performing these analyses include an estimate of carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rental revenue during the expected lease-up periods based on current market demand. Management also estimates costs to execute similar leases including leasing commissions, tenant improvements, legal and other related costs. In allocating the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market in-place lease values are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) estimated fair market lease rates from the perspective of a market participant for the corresponding in-place leases, measured, for above-market leases, over a period equal to the remaining non-cancelable term of the lease and, for below-market leases, over a period equal to the initial term plus any below-market fixed rate renewal periods. The leases we have acquired do not currently include any below-market fixed rate renewal periods. The capitalized above-market lease values are amortized as a reduction of rental income over the remaining non-cancelable terms of the respective leases. The capitalized below-market lease values, also referred to as acquired lease obligations, are amortized as an increase to rental income over the initial terms of the respective leases and any below-market fixed rate renewal periods. In addition to the intangible value for above-market leases and the intangible negative value for below-market leases, there is intangible value related to having tenants leasing space in the purchased property, which is referred to as in-place lease value. Such value results primarily from the buyer of a leased property avoiding the costs associated with leasing the property and also avoiding rent losses and unreimbursed operating expenses during the lease-up period. Factors to be considered by management in its analysis of in-place lease values include an estimate of carrying costs during hypothetical expected lease-up periods considering current market conditions, and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rental revenue at market rates during the expected lease-up periods, depending on local market conditions. In estimating costs to execute similar leases, management considers leasing commissions, legal and other related expenses. The value of in-place leases is amortized to expense over the remaining initial terms of the respective leases. The Company uses the excess earnings method to value customer relationship value, if any. Such value exists in transactions that involve the acquisition of customers that are expected to generate recurring revenues beyond existing in-place lease terms. The primary factors to be considered by management in its analysis of customer relationship value include historical customer lease renewals and attrition rates, rental renewal probabilities and related market terms, estimated operating costs, and discount rate. Customer relationship value is amortized to expense ratably over the anticipated life of the customer relationships generating excess earnings, which is the period management uses to value this intangible asset. ​ ​ ​ (f) Goodwill ​ Goodwill represents the excess of the purchase price over the fair value of net tangible and intangible assets acquired and tangible and intangible liabilities assumed in a business combination. Goodwill is not amortized. We perform an annual impairment test for goodwill and between annual tests, we evaluate goodwill for impairment whenever events or changes in circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. In January 2017, the FASB issued new accounting guidance on simplifying the test for goodwill impairment. Prior to 2020, the standard required an entity to perform a two-step test to determine the amount, if any, of goodwill impairment. In Step 1, an entity compared the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeded its fair value, the entity performed Step 2 and compared the implied fair value of goodwill with the carrying amount of that goodwill for that reporting unit. An impairment charge equal to the amount by which the carrying amount of goodwill for the reporting unit exceeded the implied fair value of that goodwill is recorded, limited to the amount of goodwill allocated to that reporting unit. The new guidance removes Step 2. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment . The new guidance was effective for us in the first quarter of 2020 and was adopted on a prospective basis. The adoption of this guidance had no significant impact on our condensed consolidated financial statements. We have not recognized any goodwill impairments since our inception. Since some of the goodwill is denominated in foreign currencies, changes to the goodwill balance occur over time due to changes in foreign currency exchange rates. The following is a summary of goodwill activity for the three months ended March 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of ​ ​ ​ ​ Impact of Change ​ Balance as of ​ ​ December 31, ​ Merger / ​ in Foreign ​ March 31, Merger / Portfolio Acquisition 2019 Acquisition ​ Exchange Rates 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Telx Acquisition ​ $ 330,845 ​ $ — ​ $ — ​ $ 330,845 European Portfolio Acquisition ​ 440,079 ​ — ​ (20,250) ​ 419,829 DFT Merger ​ 2,592,146 ​ — ​ — ​ 2,592,146 Interxion Combination ​ ​ — ​ ​ 4,192,504 ​ ​ (69,278) ​ ​ 4,123,226 Total ​ $ 3,363,070 ​ $ 4,192,504 ​ $ (89,528) ​ $ 7,466,046 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (g) Capitalization of Costs Direct and indirect project costs that are clearly associated with the development of properties are capitalized as incurred. Project costs include all costs directly associated with the development of a property, including construction costs, interest, property taxes, insurance, legal fees and costs of personnel working on the project. Indirect costs that do not clearly relate to the projects under development are not capitalized and are charged to expense as incurred. Capitalization of costs begins when the activities necessary to get the development project ready for its intended use begins, which include costs incurred before the beginning of construction. Capitalization of costs ceases when the development project is substantially complete and ready for its intended use. Determining when a development project commences and when it is substantially complete and ready for its intended use involves a degree of judgment. We generally consider a development project to be substantially complete and ready for its intended use upon receipt of a certificate of occupancy. If and when development of a property is suspended pursuant to a formal change in the planned use of the property, we will evaluate whether the accumulated costs exceed the estimated value of the project and write off the amount of any such excess accumulated costs. For a development project that is suspended for reasons other than a formal change in the planned use of such property, the accumulated project costs are evaluated for impairment consistent with our impairment policies for long-lived assets. During the development period, all costs including the associated land are classified to construction in progress and space held for development. Upon completion of the development period for a project, accumulated construction in progress costs including the land related to a project are allocated to the specific components of a project that are benefited. Construction in progress and space held for development includes the cost of land, the cost of construction of buildings, improvements and fixed equipment, and costs for design and engineering. Other costs, such as interest, legal, property taxes and corporate project supervision, which can be directly associated with the project during construction, are also included in construction in progress and space held for development. Land held for development includes parcels of land owned by the Company, upon which the Company intends to develop and own data centers, but has yet to commence development. During the three months ended March 31, 2020 and 2019 we capitalized interest of approximately $10.5 million and $10.9 million, respectively. During the three months ended March 31, 2020 and 2019, we capitalized amounts relating to compensation and other overhead expense of employees direct and incremental to construction activities of approximately $13.7 million and $12.0 million, respectively. (h) Deferred Leasing Costs Leasing commissions and other direct costs associated with successful leasing to customers are capitalized and amortized on a straight-line basis over the terms of the related leases. During the three months ended March 31, 2020 and 2019, we capitalized amounts relating to variable compensation of employees direct and incremental to successful leasing activities of approximately $8.6 million and $8.1 million, respectively. Deferred leasing costs is included in customer relationship value, deferred leasing costs and intangibles on the condensed consolidated balance sheet and amounted to approximately $285.8 million and $291.8 million, net of accumulated amortization, as of March 31, 2020 and December 31, 2019, respectively. Amortization expense on capitalized deferred leasing costs was approximately $18.5 million and $19.1 million for the three months ended March 31, 2020 and 2019, respectively. (i) Foreign Currency Translation Assets and liabilities of our subsidiaries outside the United States with non-U.S. dollar functional currencies are translated into U.S. dollars using exchange rates as of the balance sheet dates. Income and expenses are translated using the average exchange rates for the reporting period. Foreign currency translation adjustments are recorded as a component of other comprehensive income. In the statement of cash flows, cash flows denominated in foreign currencies are translated using the exchange rates in effect at the time of the cash flows or an average exchange rate for the period, depending on the nature of the cash flow item. ​ ​ (j) Share-Based Compensation The Company measures all share-based compensation awards at fair value on the date they are granted to employees and directors, and recognizes compensation cost, net of forfeitures, over the requisite service period for awards with only a service condition. The estimated fair value of the long-term incentive units and Class D units (discussed in Note 15) granted by us is being amortized on a straight-line basis over the expected service period. The fair value of share-based compensation awards that contain a market condition is measured using a Monte Carlo simulation method and is not adjusted based on actual achievement of the market condition. (k) Derivative Instruments Derivative financial instruments are employed to manage risks, including foreign currency and interest rate exposures and are not used for trading or speculative purposes. As part of the Company’s risk management program, a variety of financial instruments, such as interest rate swaps and foreign exchange contracts, may be used to mitigate interest rate exposure and foreign currency exposure. The Company recognizes all derivative instruments in the balance sheet at fair value. Changes in the fair value of derivatives are recognized periodically either in earnings or in stockholders’ equity as a component of accumulated other comprehensive income (loss), depending on whether the derivative financial instrument is undesignated or qualifies for hedge accounting, and if so, whether it represents a fair value, cash flow, or net investment hedge. Gains and losses on derivatives designated as cash flow hedges, to the extent they are included in the assessment of effectiveness, are recorded in other comprehensive income (loss) and subsequently reclassified to earnings to offset the impact of the hedged items when they occur. In the event it becomes probable the forecasted transaction to which a cash flow hedge relates will not occur, the derivative would be terminated and the amount in other comprehensive income (loss) would be recognized in earnings. Changes in the fair value of derivatives that are designated and qualify as a hedge of the net investment in foreign operations, to the extent they are included in the assessment of effectiveness, are reported in other comprehensive income (loss) and are deferred until disposal of the underlying assets. Gains and losses representing components excluded from the assessment of effectiveness for cash flow and fair value hedges are recognized in earnings on a straight-line basis in the same caption as the hedged item over the term of the hedge. Gains and losses representing components excluded from the assessment of effectiveness for net investment hedges are recognized in earnings on a straight-line basis over the term of the hedge. The net interest paid or received on interest rate swaps is recognized as interest expense. Gains and losses resulting from the early termination of interest rate swap agreements are deferred and amortized as adjustments to interest expense over the remaining period of the debt originally covered by the terminated swap. See Note 16 for further discussion on derivative instruments. (l) Income Taxes Digital Realty Trust, Inc. has elected to be treated as a real estate investment trust (a “REIT”) for federal income tax purposes. As a REIT, Digital Realty Trust, Inc. generally is not required to pay U.S. federal corporate income tax to the extent taxable income is currently distributed to its stockholders. If Digital Realty Trust, Inc. fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income tax (including any applicable alternative minimum tax for taxable years prior to 2018) on its taxable income. The Company is subject to foreign, state and local income taxes in the jurisdictions in which it conducts business. The Company’s taxable REIT subsidiaries are subject to federal, state, local and foreign income taxes to the extent there is taxable income. Accordingly, the Company recognizes current and deferred income taxes for U.S. federal (for its taxable REIT subsidiaries), state, local and foreign jurisdictions, as appropriate. We assess our significant tax positions in accordance with U.S. GAAP for all open tax years and determine whether we have any material unrecognized liabilities from uncertain tax benefits. If a tax position is not considered “more-likely-than-not” to be sustained solely on its technical merits, no benefits of the tax position are to be recognized (for financial statement purposes). As of March 31, 2020 and December 31, 2019, we had no assets or liabilities for uncertain tax positions. We classify interest and penalties from significant uncertain tax positions as interest expense and operating expense, respectively, in our condensed consolidated income statements. For the three months ended March 31, 2020 and 2019, we had no such interest or penalties. The tax year 2016 and thereafter remain open to examination by the major taxing jurisdictions with which the Company files tax returns. See Note 12 for further discussion on income taxes. (m) Presentation of Transactional-based Taxes We account for transactional-based taxes, such as value added tax, or VAT, for our international properties on a net basis. (n) Redeemable Noncontrolling Interests Redeemable noncontrolling interests include amounts related to partnership units issued by consolidated subsidiaries of the Company in which redemption for equity is outside the control of the Company. Partnership units which are determined to be contingently redeemable for cash under the Financial Accounting Standards Board’s "Distinguishing Liabilities from Equity" guidance are classified as redeemable noncontrolling interests and presented in the mezzanine section between total liabilities and stockholder’s equity on the Company’s condensed consolidated balance sheets. The amounts of consolidated net income attributable to the Company and to the noncontrolling interests are presented on the Company’s condensed consolidated income statements. (o) Leases Transition On January 1, 2019, we adopted ASU No. 2016-02 “Leases” and the several additional ASU’s intended to clarify certain aspects of ASU 2016-02 and to provide certain practical expedients entities can elect upon adoption (collectively “Topic 842”). Topic 842 sets out the principles for the recognition, measurement, presentation, and disclosure of leases for both parties to a lease agreement (i.e. lessees and lessors). Upon adoption of the new lease accounting standard, we elected the following practical expedients and accounting policies provided by this lease standard: ● Package (“all or nothing” expedients) - requires us not to reevaluate our exi

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2020
Business Combinations
Business Combinations	3. Business Combinations Interxion Combination We obtained control of Interxion on March 9, 2020 and completed the Interxion Combination on March 12, 2020 for total equity consideration of approximately $7.0 billion, including approximately $108.5 million of assumed cash and cash equivalents. As of March 31, 2020, the estimated fair values of acquired assets and assumed liabilities were provisional estimates, based on the best information available. We have not been able to obtain all of the necessary information to complete the valuation of each of the assets and liabilities since the acquisition closed late in the quarter, consequently, more time is needed to obtain all of the source documents, obtain market data information in the various metropolitan areas, and adequately review and evaluate the information. These provisional estimates are subject to change as we complete all remaining steps in finalizing the purchase price allocation, and it is reasonably possible that there could be significant changes to the preliminary values below. We expect to finalize the valuation of all assets and liabilities by June 30, 2020. The following table summarizes the provisional amounts for acquired assets and liabilities recorded at their fair values as of the acquisition date (in thousands): ​ ​ ​ ​ ​ ​ Provisional ​ ​ Amounts Land ​ $ 310,310 Building and improvements ​ ​ 3,003,378 Construction in progress ​ ​ 311,702 Land held for development ​ ​ 33,447 Operating lease right-of-use assets ​ ​ 526,399 Cash and cash equivalents ​ 108,548 Accounts receivables ​ ​ 218,868 Goodwill ​ 4,192,504 Customer relationship value ​ 1,340,539 Revolving credit facility ​ ​ (128,282) Mortgage loans ​ (74,316) Unsecured debt ​ (1,434,666) Accounts payable and other accrued liabilities ​ ​ (278,542) Operating lease liabilities ​ (526,399) Deferred tax liability ​ ​ (595,795) Other working capital liabilities, net ​ ​ (32,443) Total purchase price ​ $ 6,975,252 ​ Goodwill represents the excess of the purchase price over the fair value of net tangible and intangible assets acquired and tangible and intangible liabilities assumed in the acquisition. As shown above, we recorded approximately $4.2 billion of goodwill related to the Interxion Combination. The strategic benefits of the acquisition include the Company’s ability to continue its strategy to provide solutions on a global basis with a diversified product offering of data center solutions for both small and large footprint deployments as well as interconnection services. These factors contributed to the goodwill that was recorded upon consummation of the transaction. The unaudited pro forma financial information set forth below is based on our historical condensed consolidated income statements for the three months ended March 31, 2020 and 2019, adjusted to give effect to the Interxion Combination as if it occurred on January 1, 2019. The pro forma adjustments primarily relate to merger expenses, depreciation expense on acquired buildings and improvements, amortization of acquired intangibles, and estimated interest expense related to financing transactions, the proceeds of which were used to fund the repayment of Interxion debt in connection with the Interxion Combination. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pro forma (unaudited) ​ ​ (in thousands, except per share data) ​ ​ Three Months Ended March 31, Digital Realty Trust, Inc. 2020 2019 Total revenue ​ $ 971,336 ​ $ 986,519 Net income available to common stockholders (1) ​ $ 242,036 ​ $ 22,634 Income per share, diluted (2) ​ $ 0.91 ​ $ 0.09 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pro forma (unaudited) ​ ​ (in thousands, except per unit data) ​ ​ Three Months Ended March 31, Digital Realty Trust, L.P. 2020 2019 Total revenue ​ $ 971,336 ​ $ 986,519 Net income available to common unitholders (1) ​ $ 249,836 ​ $ 26,934 Income per unit, diluted (2) ​ $ 0.91 ​ $ 0.09 ​ (1) Pro forma net income available to common stockholders/unitholders was adjusted to exclude $52.4 million of merger related costs incurred by the Company during the three months ended March 31, 2020 and to include these charges for the corresponding period in 2019. (2) Adjusted to give effect to the issuance of approximately 54.3 million shares of Digital Realty Trust, Inc. common stock in the Interxion Combination. ​ Revenues of approximately $47.4 million and net income of approximately $2.5 million associated with the Interxion Combination are included in the condensed consolidated income statement for the three months ended March 31, 2020.

Real Estate

Real Estate	3 Months Ended
	Mar. 31, 2020
Real Estate
Real Estate	4. Real Estate Acquisitions We acquired the following real estate during the three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount Property Type (in millions) (1) Westin (2) ​ ​ $ 305.2 Land parcel (3) ​ ​ 6.4 ​ ​ ​ $ 311.6 (1) Purchase price in U.S. dollars and excludes capitalized closing costs. (2) On February 25, 2020, we closed on the acquisition of a 49% ownership interest in the Westin Building Exchange in Seattle for a purchase price of approximately $305 million plus the assumption of debt. The acquisition of the interest held by seller increases our ownership interest to 99% of the property. Prior to the acquisition, our existing 50% ownership interest was accounted for under the equity method of accounting and classified within "Investment in unconsolidated joint ventures". The carrying value of our investment in Westin was zero as of the date of this acquisition and as of December 31, 2019. (3) Represents one currently vacant land parcel located in Europe which is not included in our operating property count. ​ The table below reflects the purchase price allocation for the above real estate acquired during the three months ended March 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Noncontrolling ​ ​ ​ ​ ​ ​ ​ ​ Customer ​ ​ ​ ​ Below- ​ ​ Interests in Acquisition ​ ​ ​ ​ ​ Buildings and ​ Relationship ​ In-Place ​ Working ​ Market ​ Secured ​ Consolidated ​ Date Fair Description ​ Land ​ Improvements ​ Value ​ Leases ​ Capital, net ​ Leases ​ Debt ​ Joint Ventures ​ Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Westin ​ $ 43,110 ​ $ 329,406 ​ $ 49,441 ​ $ 18,965 ​ $ 7,545 ​ $ (2,540) ​ $ (135,000) ​ $ (5,715) ​ $ 305,212 Land parcel ​ 6,400 ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ 6,400 Total ​ $ 49,510 ​ $ 329,406 ​ $ 49,441 ​ $ 18,965 ​ $ 7,545 ​ $ (2,540) ​ $ (135,000) ​ $ (5,715) ​ $ 311,612 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average remaining intangible amortization life (in years) ​ ​ ​ ​ ​ ​ ​ ​ 15 ​ ​ 15 ​ ​ ​ ​ ​ 15 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets Held For Sale / Disposition On September 16, 2019, we announced the proposed sale of 10 Powered Base Building® properties, which comprise 12 data centers, in North America to Mapletree Investments Pte Ltd (“Mapletree Investments”) and Mapletree Industrial Trust (“MIT” and together with Mapletree Investments, “Mapletree”), at a purchase consideration of approximately $557.0 million. As of December 31, 2019, these 12 data centers had an aggregate carrying value of $229.9 million within total assets and $2.7 million within total liabilities and are shown as assets held for sale and obligations associated with assets held for sale on the consolidated balance sheet. In January 2020, we closed on the sale of the 12 data centers for a gain of approximately $304.8 million. We will provide transitional property management services for one year from the closing date at a customary market rate. The 12 data centers were not representative of a significant component of our portfolio, nor did the sale represent a significant shift in our strategy.

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases
Leases	5. Leases Lessee accounting We lease space at certain of our data centers from third parties and certain equipment under noncancelable lease agreements. Leases for our data centers expire at various dates through 2048. As of March 31, 2020, certain of our data centers, primarily in Europe and Singapore, are subject to ground leases. As of March 31, 2020, the termination dates of these ground leases range from 2024 to 2981. In addition, our corporate headquarters along with several regional office locations are subject to leases with termination dates ranging from 2021 to 2027. The leases generally require us to make fixed rental payments that increase at defined intervals during the term of the lease plus pay our share of common area, real estate and utility expenses as incurred. The leases neither contain residual value guarantees nor impose material restrictions or covenants on us. Further, the leases have been classified and accounted for as either operating or finance leases. Lessor accounting We lease our operating properties to customers under agreements that are classified as operating leases. We recognize the total minimum lease payments provided for under the leases on a straight-line basis over the lease term if we determine that it is probable that substantially all of the lease payments will be collected over the lease term. Otherwise, rental revenue is recognized based on the amount contractually due. Generally, under the terms of our leases, the majority of our rental expenses, including common area maintenance, real estate taxes and insurance, are recovered from our customers. We record amounts reimbursed by customers in the period that the applicable expenses are incurred, which is generally ratably throughout the term of the lease. The reimbursements are recognized in rental and other services revenue in the condensed consolidated income statements as we are the primary obligor with respect to purchasing and selecting goods and services from third-party vendors and bearing the associated credit risk. ​ ​

Investments in Unconsolidated J

Investments in Unconsolidated Joint Ventures	3 Months Ended
	Mar. 31, 2020
Investments in Unconsolidated Joint Ventures
Investments in Unconsolidated Joint Ventures	6. Investments in Unconsolidated Joint Ventures As of March 31, 2020 and December 31, 2019, our investments in unconsolidated joint ventures accounted for under the equity method of accounting presented in our condensed consolidated balance sheets consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Joint ​ # of Metropolitan ​ Balance as of Balance as of Joint Venture ​ Venture Formed ​ Data Centers ​ Area ​ % Ownership ​ March 31, 2020 ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ascenty (1) ​ 2019 ​ 19 Brazil / Chile 51 % (2) $ 524,822 ​ $ 774,853 Mapletree ​ 2019 ​ 3 ​ Northern Virginia ​ 20 % ​ 195,025 ​ ​ 208,354 MCDR ​ 2017 ​ 4 Osaka / Tokyo 50 % 235,426 ​ 200,652 CenturyLink ​ 2012 ​ 1 Hong Kong 50 % 90,257 ​ 88,647 Other ​ Various ​ 13 U.S. ​ 18,479 ​ 14,603 Total ​ ​ ​ 40 ​ $ 1,064,009 ​ $ 1,287,109 (1) Our maximum exposure to loss related to this unconsolidated variable interest entity (VIE) is limited to our equity investment in this VIE. (2) Includes an approximate 2% ownership interest held by a non-controlling interest in our entity that holds the investment in the Ascenty joint venture, which has a carrying value as of March 31, 2020 and December 31, 2019 of approximately $19.5 million and $23.9 million, respectively, and is classified within redeemable noncontrolling interests in our condensed consolidated balance sheet. The debt of our unconsolidated joint ventures generally is non-recourse to us, except for customary exceptions pertaining to such matters as intentional misuse of funds, environmental conditions, and material misrepresentations.

Acquired Intangible Assets and

Acquired Intangible Assets and Liabilities	3 Months Ended
	Mar. 31, 2020
Acquired Intangible Assets and Liabilities
Acquired Intangible Assets and Liabilities	7. Acquired Intangible Assets and Liabilities The following summarizes our acquired intangible assets (real estate intangibles, comprised of acquired in-place lease value and customer relationship value along with acquired above-market lease value) and intangible liabilities (acquired below-market lease value) as of March 31, 2020 and December 31, 2019. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of (Amounts in thousands) March 31, 2020 December 31, 2019 Real Estate Intangibles: ​ ​ ​ ​ ​ ​ Customer relationship value: ​ ​ ​ ​ ​ ​ Gross amount (1) ​ $ 3,194,157 ​ $ 1,845,949 Accumulated amortization ​ (427,337) ​ (400,570) Net ​ $ 2,766,820 ​ $ 1,445,379 Acquired in-place lease value: ​ ​ Gross amount ​ $ 1,368,685 ​ $ 1,357,190 Accumulated amortization ​ (920,682) ​ (899,071) Net ​ $ 448,003 ​ $ 458,119 Acquired above-market leases: ​ ​ Gross amount ​ $ 276,679 ​ $ 279,048 Accumulated amortization ​ (210,646) ​ (204,233) Net ​ $ 66,033 ​ $ 74,815 Acquired below-market leases: ​ ​ Gross amount ​ $ 396,532 ​ $ 396,509 Accumulated amortization ​ (251,324) ​ (247,735) Net ​ $ 145,208 ​ $ 148,774 (1) Balance as of March 31, 2020 includes provisional amounts from Interxion Combination (see Note 3). ​ Amortization of customer relationship value (a component of depreciation and amortization expense) was approximately $29.1 million and $38.0 million for the three months ended March 31, 2020 and 2019, respectively. As of March 31, 2020, the weighted average remaining contractual life for customer relationship value was 16.4 years. Estimated annual amortization of customer relationship value for each of the five succeeding years and thereafter, commencing April 1, 2020 is as follows: ​ ​ ​ ​ ​ (Amounts in thousands) ​ ​ Remainder of 2020 ​ $ 155,015 2021 ​ 206,687 2022 ​ 206,687 2023 ​ 206,687 2024 ​ 206,687 Thereafter ​ 1,785,057 Total ​ $ 2,766,820 ​ ​ Amortization of acquired in-place lease value (a component of depreciation and amortization expense) was approximately $27.2 million and $44.9 million for the three months ended March 31, 2020 and 2019, respectively. The expected average amortization period for acquired in-place lease value is 5.9 years as of March 31, 2020. The weighted average remaining contractual life for acquired leases excluding renewals or extensions is 5.7 years as of March 31, 2020. Estimated annual amortization of acquired in-place lease value for each of the five succeeding years and thereafter, commencing April 1, 2020 is as follows: ​ ​ ​ ​ ​ (Amounts in thousands) ​ ​ Remainder of 2020 ​ $ 72,301 2021 ​ 79,168 2022 ​ 59,522 2023 ​ 48,425 2024 ​ 41,326 Thereafter ​ 147,261 Total ​ $ 448,003 ​ Amortization of acquired below-market leases, net of acquired above-market leases, resulted in a decrease in rental revenues of $(3.3) million and $(6.2) million for the three months ended March 31, 2020 and 2019, respectively. The expected average remaining lives for acquired below-market leases and acquired above-market leases is 7.7 years and 2.4 years, respectively, as of March 31, 2020. Estimated annual amortization of acquired below-market leases, net of acquired above-market leases, for each of the five succeeding years and thereafter, commencing April 1, 2020 is as follows: ​ ​ ​ ​ ​ (Amounts in thousands) ​ ​ Remainder of 2020 ​ $ (7,269) 2021 ​ (3,406) 2022 ​ 4,806 2023 ​ 9,572 2024 ​ 10,224 Thereafter ​ 65,248 Total ​ $ 79,175 ​

Debt of the Company

Debt of the Company	3 Months Ended
	Mar. 31, 2020
Debt of the Company
Debt of the Company	8. Debt of the Company In this Note 8, the “Company” refers only to Digital Realty Trust, Inc. and not to any of its subsidiaries. The Company itself does not currently have any indebtedness. All debt is currently held directly or indirectly by the Operating Partnership. Guarantee of Debt The Company guarantees the Operating Partnership’s obligations with respect to its 3.950% notes due 2022 (3.950% 2022 Notes), 3.625% notes due 2022 (3.625% 2022 Notes), 2.750% notes due 2023 (2.750% 2023 Notes), 4.750% notes due 2025 (4.750% 2025 Notes), 3.700% notes due 2027 (2027 Notes), 4.450% notes due 2028 (4.450% 2028 Notes) and 3.600% notes due 2029 (3.600% 2029 Notes). The Company and the Operating Partnership guarantee the obligations of Digital Stout Holding, LLC, a wholly owned subsidiary of the Operating Partnership, with respect to its 4.750% notes due 2023 (4.750% 2023 Notes), 2.750% notes due 2024 (2.750% 2024 Notes), 4.250% notes due 2025 (4.250% 2025 Notes), 3.300% notes due 2029 (3.300% 2029 Notes) and 3.750% notes due 2030 (3.750% 2030 Notes), the obligations of Digital Euro Finco, LLC, an indirect wholly owned finance subsidiary of the Operating Partnership, with respect to its 2.625% notes due 2024 (2.625% 2024 Notes), 2.500% notes due 2026 (2026 Notes) and 1.125% notes due 2028 (1.125% 2028 Notes) and the obligations of Digital Dutch Finco B.V., an indirect wholly owned finance subsidiary of the Operating Partnership, with respect to its 0.125% notes due 2022 (0.125% 2022 Notes), 0.625% notes due 2025 (0.625% 2025 Notes) and 1.500% notes due 2030 (1.500% 2030 Notes). The Company is also the guarantor of the Operating Partnership’s and its subsidiary borrowers’ obligations under the global revolving credit facilities and unsecured term loans.

Debt of the Operating Partnersh

Debt of the Operating Partnership	3 Months Ended
	Mar. 31, 2020
Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Debt of the Operating Partnership	9. Debt of the Operating Partnership A summary of outstanding indebtedness of the Operating Partnership as of March 31, 2020 and December 31, 2019 is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest Rate at ​ ​ Principal Principal ​ ​ March 31, ​ ​ ​ Outstanding at ​ Outstanding at ​ Indebtedness ​ 2020 ​ Maturity Date ​ March 31, 2020 ​ December 31, 2019 ​ Global revolving credit facilities Various (1) ​ Jan 24, 2023 (1) $ 613,913 (2) $ 245,766 (2) Deferred financing costs, net ​ ​ ​ (10,812) ​ (11,661) ​ Global revolving credit facilities, net ​ ​ ​ 603,101 ​ 234,105 ​ Unsecured Term Loans ​ ​ ​ ​ ​ 2023 Term Loan Various (3)(4) ​ Jan 15, 2023 ​ 300,000 (5) 300,000 (5) 2024 Term Loan Various (3)(4) ​ Jan 24, 2023 ​ 474,096 (5) 513,205 (5) Deferred financing costs, net ​ ​ ​ ​ (2,671) ​ (2,986) ​ Unsecured term loans, net ​ ​ ​ ​ 771,425 ​ 810,219 ​ Unsecured senior notes: ​ ​ ​ ​ ​ ​ 3.950% notes due 2022 3.950 % ​ Jul 1, 2022 ​ 500,000 ​ 500,000 ​ 3.625% notes due 2022 3.625 % ​ Oct 1, 2022 ​ 300,000 ​ 300,000 ​ 0.125% notes due 2022 ​ 0.125 % ​ Oct 15, 2022 ​ ​ 330,930 (6) ​ — ​ 2.750% notes due 2023 2.750 % ​ Feb 1, 2023 ​ 350,000 ​ 350,000 ​ 4.750% notes due 2023 4.750 % ​ Oct 13, 2023 ​ 372,600 (7) 397,710 (7) 2.625% notes due 2024 2.625 % ​ Apr 15, 2024 ​ 661,860 (6) 672,780 (6) 2.750% notes due 2024 2.750 % ​ Jul 19, 2024 ​ 310,500 (7) 331,425 (7) 4.250% notes due 2025 4.250 % ​ Jan 17, 2025 ​ 496,800 (7) 530,280 (7) 0.625% notes due 2025 ​ 0.625 % ​ Jul 15, 2025 ​ ​ 717,015 (6) ​ — ​ 4.750% notes due 2025 4.750 % ​ Oct 1, 2025 ​ 450,000 ​ 450,000 ​ 2.500% notes due 2026 ​ 2.500 % ​ Jan 16, 2026 ​ ​ 1,185,832 (6) ​ 1,205,398 (6) 3.700% notes due 2027 3.700 % ​ Aug 15, 2027 ​ 1,000,000 ​ 1,000,000 ​ 1.125% notes due 2028 ​ 1.125 % ​ Apr 9, 2028 ​ ​ 551,550 (6) ​ 560,650 (6) 4.450% notes due 2028 4.450 % ​ Jul 15, 2028 ​ 650,000 ​ 650,000 ​ 3.600% notes due 2029 ​ 3.600 % ​ Jul 1, 2029 ​ ​ 434,700 (7) ​ 463,995 (7) 3.300% notes due 2029 3.300 % ​ Jul 19, 2029 ​ 900,000 (7) 900,000 (7) 1.500% notes due 2030 ​ 1.500 % ​ Mar 15, 2030 ​ ​ 827,325 (6) ​ — ​ 3.750% notes due 2030 3.750 % ​ Oct 17, 2030 ​ 683,100 (7) 729,135 (7) Unamortized discounts, net of premiums ​ ​ (26,148) ​ (16,145) ​ Total senior notes, net of discount ​ ​ 10,696,064 ​ 9,025,228 ​ Deferred financing costs, net ​ ​ (59,058) ​ (52,038) ​ Total unsecured senior notes, net of discount and deferred financing costs ​ ​ 10,637,006 ​ 8,973,190 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Secured Debt: ​ ​ ​ ​ 731 East Trade Street 8.22 % ​ Jul 1, 2020 ​ $ 964 (8) $ 1,089 ​ Secured note due March 2023 LIBOR + 1.000 % (4) ​ Mar 1, 2023 ​ 104,000 ​ 104,000 ​ Westin 3.290 % ​ Jul 11, 2027 ​ 135,000 ​ — ​ Unamortized net premiums ​ ​ 31 ​ 54 ​ Total secured debt, including premiums ​ ​ 239,995 ​ 105,143 ​ Deferred financing costs, net ​ ​ (195) ​ (209) ​ Total secured debt, including premiums and net of deferred financing costs ​ ​ 239,800 ​ 104,934 ​ Total indebtedness ​ ​ $ 12,251,332 ​ $ 10,122,448 ​ (1) The interest rate for borrowings under the global revolving credit facility equals the applicable index plus a margin of 90 basis points, which is based on the current credit ratings of our long-term debt. An annual facility fee of 20 basis points, which is based on the credit ratings of our long-term debt, is due and payable quarterly on the total commitment amount of the facility. Two six-month extensions are available, which we may exercise if certain conditions are met. The interest rate for borrowings under the Yen revolving credit facility equals the applicable index plus a margin of 50 basis points, which is based on the current credit ratings of our long-term debt. (2) Balances as of March 31, 2020 and December 31, 2019 are as follows (balances, in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of Weighted- Balance as of Weighted- ​ ​ March 31, ​ average ​ December ​ average Denomination of Draw ​ 2020 ​ interest rate ​ 31, 2019 ​ interest rate Floating Rate Borrowing (a) (d) ​ ​ ​ U.S. dollar ($) ​ $ 200,000 ​ 1.82 % $ — ​ — % Euro (€) ​ 110,310 (b) 0.90 % 44,852 (c) 0.90 % Australian dollar (AUD) ​ 1,104 (b) 1.36 % 1,264 (c) 1.74 % Hong Kong dollar (HKD) ​ 1,548 (b) 2.04 % — ​ — % Singapore dollar (SGD) ​ 56,326 (b) 1.26 % 53,199 (c) 2.46 % Canadian dollar (CAD) ​ 16,706 (b) 2.51 % — ​ — % Total ​ $ 385,994 1.51 % $ 99,315 1.75 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Yen Revolving Credit Facility (a) ​ $ 227,919 (e) 0.50 % $ 146,451 (e) 0.50 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total borrowings ​ $ 613,913 1.13 % $ 245,766 1.00 % (a) The interest rates for floating rate borrowings under the global revolving credit facility currently equal the applicable index, subject to a zero floor, plus a margin of 90 basis points, which is based on the current credit rating of our long-term debt. The interest rate for borrowings under the Yen revolving credit facility equals the applicable index, subject to a zero floor, plus a margin of 50 basis points, which is based on the current credit rating of our long-term debt. (b) Based on exchange rates of $1.10 to €1.00, $0.61 to 1.00 AUD, $0.13 to 1.00 HKD, $0.70 to 1.00 SGD and $0.71 to 1.00 CAD, respectively, as of March 31, 2020. (c) Based on exchange rates of $1.12 to €1.00, $0.70 to 1.00 AUD and $0.74 to 1.00 SGD, respectively, as of December 31, 2019. (d) As of March 31, 2020, approximately $46.5 million of letters of credit were issued. (e) Based on exchange rates of $0.01 to 1.00 JPY as of March 31, 2020 and December 31, 2019. ​ (3) Interest rates are based on our current senior unsecured debt ratings and are currently 100 basis points over the applicable index for floating rate advances for the 2023 Term Loan and the 2024 Term Loan. (4) We have entered into interest rate swap agreements as a cash flow hedge for interest generated by a portion of U.S. dollar and Canadian dollar borrowings under the 2023 Term Loan and 2024 Term Loan, and the secured note due March 2023. See Note 16. "Derivative Instruments" for further information. (5) Balances as of March 31, 2020 and December 31, 2019 are as follows (balances, in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of ​ Weighted- ​ Balance as of ​ Weighted- ​ ​ ​ March 31, ​ average ​ December 31, ​ average ​ Denomination of Draw 2020 interest rate 2019 interest rate U.S. dollar ($) ​ $ 300,000 1.70 % (b) $ 300,000 2.74 % (d) Singapore dollar (SGD) ​ 140,007 (a) 2.56 % ​ 147,931 (c) 2.68 % Australian dollar (AUD) ​ 177,983 (a) 1.59 % ​ 203,820 (c) 1.85 % Hong Kong dollar (HKD) ​ 86,082 (a) 2.27 % ​ 85,629 (c) 3.60 % Canadian dollar (CAD) ​ 70,024 (a) 2.53 % (b) ​ 75,825 (c) 3.00 % (d) Total ​ $ 774,096 1.97 % (b) $ 813,205 2.62 % (d) (a) Based on exchange rates of $0.70 to 1.00 SGD, $0.61 to 1.00 AUD, $0.13 to 1.00 HKD and $0.71 to 1.00 CAD, respectively, as of March 31, 2020. (b) As of March 31, 2020, the weighted-average interest rate reflecting interest rate swaps was 2.44% (U.S. dollar), 1.78% (Canadian dollar) and 2.18% (Total). See Note 16 "Derivative Instruments" for further discussion on interest rate swaps. (c) Based on exchange rates of $0.74 to 1.00 SGD, $0.70 to 1.00 AUD, $0.13 to 1.00 HKD and $0.77 to 1.00 CAD, respectively, as of December 31, 2019. (d) As of December 31, 2019, the weighted-average interest rate reflecting interest rate swaps was 2.44% (U.S. dollar), 1.78% (Canadian dollar) and 2.39% (Total). (6) Based on exchange rates of $1.10 to €1.00 as of March 31, 2020 and $1.12 to €1.00 as of December 31, 2019. (7) Based on exchange rates of $1.24 to £1.00 as of March 31, 2020 and $1.33 to £1.00 as of December 31, 2019. (8) Debt was repaid in full on April 13, 2020. ​ The indentures governing our senior notes contain certain covenants, including (1) a leverage ratio not to exceed 60%, (2) a secured debt leverage ratio not to exceed 40% and (3) an interest coverage ratio of greater than 1.50, and also requires us to maintain total unencumbered assets of not less than 150% of the aggregate principal amount of unsecured debt. At March 31, 2020, we were in compliance with each of these financial covenants. Euro Notes On January 17, 2020, Digital Dutch Finco B.V., an indirect wholly owned finance subsidiary of the Operating Partnership, issued and sold €300.0 million aggregate principal amount of 0.125% Guaranteed Notes due 2022 (the “0.125% 2022 Notes”), €650.0 million aggregate principal amount of 0.625% Guaranteed Notes due 2025 (the “0.625% 2025 Notes”) and €750.0 million aggregate principal amount of 1.500% Guaranteed Notes due 2030 (the “1.500% 2030 Notes” and, together with the 0.125% 2022 Notes and 0.625% 2025 Notes, the “Euro Notes”). The Euro Notes are senior unsecured obligations of Digital Dutch Finco B.V. and are fully and unconditionally guaranteed by Digital Realty Trust, Inc. and the Operating Partnership. The terms of each series of Euro Notes are governed by separate indentures, each dated as of January 17, 2020, among Digital Dutch Finco B.V., Digital Realty Trust, Inc., the Operating Partnership, Deutsche Trustee Company Limited, as trustee, Deutsche Bank AG, London Branch, as paying agent and a transfer agent, and Deutsche Bank Luxembourg S.A., as registrar and a transfer agent (the “Indentures”). Net proceeds from the offering were approximately €1,678.6 million (or approximately $1,861.9 million based on the exchange rate as of January 17, 2020) after deducting managers’ discounts and estimated offering expenses. We intend to allocate an amount equal to the net proceeds from the offering of the 0.625% 2025 Notes and the 1.500% 2030 Notes to finance or refinance, in whole or in part, recently completed or future green building, energy and resource efficiency and renewable energy projects (collectively, “Eligible Green Projects”), including the development and redevelopment of such projects. Pending the allocation of an amount equal to the net proceeds of the 0.625% 2025 Notes and the 1.500% 2030 Notes to Eligible Green Projects, a portion of an amount equal to the net proceeds from such notes were used for the repayment, redemption and/or discharge of debt of Interxion or its subsidiaries and the payment of certain transaction fees and expenses incurred in connection with our previously announced combination with Interxion. We intend to use the net proceeds from the offering of the 0.125% 2022 Notes and, pending the uses described in the previous sentence, may use the net proceeds from the offering of the 0.625% 2025 Notes and the 1.500% 2030 Notes to temporarily repay borrowings outstanding under the Operating Partnership’s global credit facilities, acquire additional properties or businesses, fund development opportunities, invest in interest-bearing accounts and short-term, interest-bearing securities which are consistent with Digital Realty Trust, Inc.’s intention to qualify as a REIT for U.S. federal income tax purposes, and to provide for working capital and other general corporate purposes, including potentially for the repayment of other debt or the repurchase, redemption or retirement of outstanding debt or equity securities, or a combination of the foregoing. ​ ​ ​ The table below summarizes our debt maturities and principal payments as of March 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global Revolving ​ Unsecured ​ ​ ​ ​ ​ ​ ​ ​ ​ Credit Facilities (1) Term Loans (1) Senior Notes Secured Debt Total Debt Remainder of 2020 ​ $ — ​ $ — ​ $ — ​ $ 964 ​ $ 964 2021 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — 2022 ​ ​ — ​ ​ — ​ ​ 1,130,930 ​ ​ — ​ ​ 1,130,930 2023 ​ 385,994 ​ 774,096 ​ 722,600 ​ 104,000 ​ 1,986,690 2024 ​ 227,919 ​ — ​ 972,360 ​ — ​ 1,200,279 Thereafter ​ — ​ — ​ 7,896,322 ​ 135,000 ​ 8,031,322 Subtotal ​ $ 613,913 ​ $ 774,096 ​ $ 10,722,212 ​ $ 239,964 ​ $ 12,350,185 Unamortized discount ​ — ​ — ​ (32,175) ​ — ​ (32,175) Unamortized premium ​ — ​ — ​ 6,027 ​ 31 ​ 6,058 Total ​ $ 613,913 ​ $ 774,096 ​ $ 10,696,064 ​ $ 239,995 ​ $ 12,324,068 (1) The global revolving credit facility and unsecured term loans are subject to two six-month extension options exercisable by us. The bank group is obligated to grant the extension options provided we give proper notice, we make certain representations and warranties and no default exists under the global revolving credit facility or unsecured term loans, as applicable.

Income per Share

Income per Share	3 Months Ended
	Mar. 31, 2020
Income per Share
Income per Share	10. Income per Share The following is a summary of basic and diluted income per share (in thousands, except share and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 Net income available to common stockholders ​ $ 202,859 ​ $ 95,869 Weighted average shares outstanding—basic ​ 222,163,324 ​ 207,809,383 Potentially dilutive common shares: ​ ​ Unvested incentive units ​ 224,558 ​ 323,064 Unvested restricted stock ​ ​ 158,022 ​ ​ — Forward equity offering ​ 1,392,934 ​ 221,448 Market performance-based awards ​ 535,457 ​ 172,354 Weighted average shares outstanding—diluted ​ 224,474,295 ​ 208,526,249 Income per share: ​ ​ Basic ​ $ 0.91 ​ $ 0.46 Diluted ​ $ 0.90 ​ $ 0.46 ​ We have excluded the following potentially dilutive securities in the calculations above as they would be antidilutive or not dilutive: ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc. 8,279,335 9,229,911 Potentially dilutive Series C Cumulative Redeemable Perpetual Preferred Stock 1,596,099 1,738,781 Potentially dilutive Series G Cumulative Redeemable Preferred Stock 1,979,075 2,155,992 Potentially dilutive Series H Cumulative Redeemable Preferred Stock — 3,159,382 Potentially dilutive Series I Cumulative Redeemable Preferred Stock 1,981,391 2,158,515 Potentially dilutive Series J Cumulative Redeemable Preferred Stock 1,580,822 1,722,138 Potentially dilutive Series K Cumulative Redeemable Preferred Stock ​ 1,662,320 ​ 358,008 Potentially dilutive Series L Cumulative Redeemable Preferred Stock ​ 2,723,082 ​ — Total 19,802,124 20,522,727 ​

Income per Unit

Income per Unit	3 Months Ended
	Mar. 31, 2020
Digital Realty Trust, L.P.
Class of Stock [Line Items]
Income per Unit	11. Income per Unit The following is a summary of basic and diluted income per unit (in thousands, except unit and per unit amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 Net income available to common unitholders ​ $ 210,659 ​ $ 100,169 Weighted average units outstanding—basic ​ 230,442,659 ​ 217,039,295 Potentially dilutive common units: ​ ​ Unvested incentive units ​ 224,558 ​ 323,064 Unvested restricted units ​ ​ 158,022 ​ ​ — Forward equity offering ​ 1,392,934 ​ 221,448 Market performance-based awards ​ 535,457 ​ 172,354 Weighted average units outstanding—diluted ​ 232,753,630 ​ 217,756,161 Income per unit: ​ ​ Basic ​ $ 0.91 ​ $ 0.46 Diluted ​ $ 0.90 ​ $ 0.46 ​ We have excluded the following potentially dilutive securities in the calculations above as they would be antidilutive or not dilutive: ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 Potentially dilutive Series C Cumulative Redeemable Perpetual Preferred Units 1,596,099 1,738,781 Potentially dilutive Series G Cumulative Redeemable Preferred Units 1,979,075 2,155,992 Potentially dilutive Series H Cumulative Redeemable Preferred Units — 3,159,382 Potentially dilutive Series I Cumulative Redeemable Preferred Units 1,981,391 2,158,515 Potentially dilutive Series J Cumulative Redeemable Preferred Units 1,580,822 1,722,138 Potentially dilutive Series K Cumulative Redeemable Preferred Units ​ 1,662,320 ​ 358,008 Potentially dilutive Series L Cumulative Redeemable Preferred Units ​ 2,723,082 ​ — Total 11,522,789 11,292,816 ​

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Taxes
Income Taxes	12. Income Taxes Digital Realty Trust, Inc. has elected to be treated and believes that it has been organized and has operated in a manner that has enabled it to qualify as a REIT for federal income tax purposes. As a REIT, Digital Realty Trust, Inc. is generally not subject to corporate level federal income taxes on taxable income distributed currently to its stockholders. Since inception, Digital Realty Trust, Inc. has distributed at least 100% of its taxable income annually. As such, no provision for federal income taxes has been included in the Company’s accompanying condensed consolidated financial statements for the three months ended March 31, 2020 and 2019. The Operating Partnership is a partnership and is not required to pay federal income tax. Instead, taxable income is allocated to its partners, who include such amounts on their federal income tax returns. As such, no provision for federal income taxes has been included in the Operating Partnership’s accompanying condensed consolidated financial statements. We have elected taxable REIT subsidiary (“TRS”) status for some of our consolidated subsidiaries. In general, a TRS may provide services that would otherwise be considered impermissible for REITs to provide and may hold assets that REITs cannot hold directly. Income taxes for TRS entities were accrued, as necessary, for the three months ended March 31, 2020 and 2019. For our TRS entities and foreign subsidiaries that are subject to U.S. federal, state, local and foreign income taxes, deferred tax assets and liabilities are established for temporary differences between the financial reporting basis and the tax basis of assets and liabilities at the enacted tax rates expected to be in effect when the temporary differences reverse. A valuation allowance for deferred tax assets is provided if we believe it is more likely than not that the deferred tax asset may not be realized, based on available evidence at the time the determination is made. An increase or decrease in the valuation allowance that results from the change in circumstances that causes a change in our judgment about the realizability of the related deferred tax asset is included in the income statement. Deferred tax assets (net of valuation allowance) and liabilities for our TRS entities and foreign subsidiaries were accrued, as necessary, for the three months ended March 31, 2020 and 2019. As of March 31, 2020 and December 31, 2019, we had deferred tax liabilities net of deferred tax assets of approximately $681.1 million and $143.4 million, respectively, primarily related to our foreign properties, classified in accounts payable and other accrued expenses in the condensed consolidated balance sheet. The majority of our net deferred tax liability relates to differences between foreign tax basis and book basis of the assets acquired in the Interxion Combination in March 2020, the European Portfolio Acquisition in July 2016 and the Sentrum portfolio acquisition during 2012. The valuation allowance against the deferred tax assets at March 31, 2020 and December 31, 2019 relate primarily to net operating loss carryforwards that we do not expect to utilize attributable to certain foreign jurisdictions.

Equity and Accumulated Other Co

Equity and Accumulated Other Comprehensive Loss, Net	3 Months Ended
	Mar. 31, 2020
Equity and Accumulated Other Comprehensive Loss, Net
Equity and Accumulated Other Comprehensive Loss, Net	13. Equity and Accumulated Other Comprehensive Loss, Net (a) Equity Distribution Agreement On January 4, 2019, Digital Realty Trust, Inc. and Digital Realty Trust, L.P. entered into an equity distribution agreement, which we refer to as the 2019 Equity Distribution Agreement, with Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., BTIG, LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., PNC Capital Markets LLC, Raymond James & Associates, Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., SunTrust Robinson Humphrey, Inc., TD Securities (USA) LLC, and Wells Fargo Securities, LLC, or the Agents, under which it could issue and sell shares of its common stock having an aggregate offering price of up to $1.0 billion from time to time through, at its discretion, any of the Agents as its sales agents or as principals. Sales may also be made on a forward basis pursuant to separate forward sale agreements. The sales of common stock made under the 2019 Equity Distribution Agreement will be made in “at the market” offerings as defined in Rule 415 of the Securities Act. For the three months ended March 31, 2020, Digital Realty Trust, Inc. generated net proceeds of approximately $6.8 million from the issuance of approximately 50,000 common shares under the 2019 Equity Distribution Agreement at an average price of $138.17 per share after payment of approximately $0.1 million of commissions to the Agents. For the three months ended March 31, 2019, there were sales made under the program. (b) Forward Equity Sale On September 27, 2018, Digital Realty Trust, Inc. completed an underwritten public offering of 9,775,000 shares of its common stock (including 1,275,000 shares from the exercise in full of the underwriters’ option to purchase additional shares), all of which were offered in connection with forward sale agreements it entered into with certain financial institutions acting as forward purchasers. The forward purchasers borrowed and sold an aggregate of 9,775,000 shares of Digital Realty Trust, Inc.’s common stock in the public offering. Digital Realty Trust, Inc. did not receive any proceeds from the sale of its common stock by the forward purchasers in the public offering. The Company expects to receive net proceeds of approximately $1.0 billion (net of fees and estimated expenses) upon full physical settlement of the forward sale agreements. On September 17, 2019, the Company amended the forward sale agreements to extend the maturity date of such forward sales agreements from September 27, 2019 to September 25, 2020. (c) Noncontrolling Interests in Operating Partnership Noncontrolling interests in the Operating Partnership relate to the interests that are not owned by Digital Realty Trust, Inc. The following table shows the ownership interest in the Operating Partnership as of March 31, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ December 31, 2019 ​ ​ Number of ​ Percentage of ​ Number of ​ Percentage of ​ ​ units total units total Digital Realty Trust, Inc. ​ 263,595,562 ​ 96.9 % 208,900,758 ​ 95.9 % Noncontrolling interests consist of: ​ ​ ​ Common units held by third parties 6,307,648 2.3 % 6,820,201 3.2 % Incentive units held by employees and directors (see Note 15) 2,165,738 0.8 % 2,022,954 0.9 % ​ 272,068,948 100.0 % 217,743,913 100.0 % ​ Limited partners have the right to require the Operating Partnership to redeem part or all of their common units for cash based on the fair market value of an equivalent number of shares of Digital Realty Trust, Inc. common stock at the time of redemption. Alternatively, Digital Realty Trust, Inc. may elect to acquire those common units in exchange for shares of Digital Realty Trust, Inc. common stock on a one-for-one basis, subject to adjustment in the event of stock splits, stock dividends, issuance of stock rights, specified extraordinary distributions and similar events. Pursuant to authoritative accounting guidance, Digital Realty Trust, Inc. evaluated whether it controls the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the share settlement of the noncontrolling Operating Partnership common and incentive units. Based on the results of this analysis, we concluded that the common units and incentive units of the Operating Partnership met the criteria to be classified within equity, except for certain common units issued to certain former DFT Operating Partnership unitholders in the DFT Merger, which are subject to certain restrictions and, accordingly, are not presented as permanent equity in the condensed consolidated balance sheet. In connection with the initial public offering of DFT in 2007, DFT, the DFT Operating Partnership and certain DFT Operating Partnership unitholders entered into a tax protection agreement to assist such unitholders in deferring certain U.S. federal income tax liabilities that may have otherwise resulted from the contribution transactions undertaken in connection with the initial public offering and the ownership of interests in the DFT Operating Partnership and to set forth certain agreements with respect to other tax matters. In connection with the DFT Merger, certain DFT Operating Partnership unitholders entered into a new tax protection agreement with Digital Realty Trust, Inc. and the Operating Partnership that replaced and superseded the DFT tax protection agreement, effective as of the closing of the merger. Pursuant to the new tax protection agreement, such DFT Operating Partnership unitholders entered into a guarantee of certain debt of a subsidiary of the Operating Partnership. The Operating Partnership must offer such DFT Operating Partnership unitholders a new guarantee opportunity in the event any guaranteed debt is repaid prior to March 1, 2023. If the Operating Partnership fails to offer the guarantee opportunity or to allocate guaranteed debt to any such DFT Operating Partnership unitholder as required under the new tax protection agreement, the Operating Partnership generally would be required to indemnify each such DFT Operating Partnership unitholder for the tax liability resulting from such failure, as determined under the new tax protection agreement. The redemption value of the noncontrolling Operating Partnership common units and the vested incentive units was approximately $1,114.3 million and $997.6 million based on the closing market price of Digital Realty Trust, Inc. common stock on March 31, 2020 and December 31, 2019, respectively. The following table shows activity for the noncontrolling interests in the Operating Partnership for the three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Units Incentive Units Total As of December 31, 2019 6,820,201 2,022,954 8,843,155 Redemption of common units for shares of Digital Realty Trust, Inc. common stock (1) (512,553) — (512,553) Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (1) — (80,400) (80,400) Incentive units issued upon achievement of market performance condition — 126,845 126,845 Grant of incentive units to employees and directors — 98,470 98,470 Cancellation / forfeitures of incentive units held by employees and directors — (2,131) (2,131) As of March 31, 2020 6,307,648 2,165,738 8,473,386 (1) These redemptions and conversions were recorded as a reduction to noncontrolling interests in the Operating Partnership and an increase to common stock and additional paid in capital based on the book value per unit in the accompanying consolidated balance sheet of Digital Realty Trust, Inc. (d) Dividends We have declared and paid the following dividends on our common and preferred stock for the three months ended March 31, 2020 (in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Series C ​ Series G ​ Series I ​ Series J ​ Series K ​ Series L ​ ​ ​ ​ ​ ​ ​ ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ ​ Common ​ Date dividend declared Dividend payment date Stock Stock Stock Stock Stock Stock ​ ​ Stock ​ February 26, 2020 ​ March 31, 2020 ​ $ 3,333 ​ $ 3,672 ​ $ 3,969 ​ $ 2,625 ​ $ 3,071 ​ $ 4,485 ​ ​ $ 295,630 ​ Annual rate of dividend per share ​ ​ $ 1.65625 $ 1.46875 ​ $ 1.58750 ​ $ 1.31250 ​ $ 1.46250 ​ $ 1.30000 ​ ​ $ 4.48000 Distributions out of Digital Realty Trust, Inc.’s current or accumulated earnings and profits are generally classified as dividends whereas distributions in excess of its current and accumulated earnings and profits, to the extent of a stockholder’s U.S. federal income tax basis in Digital Realty Trust, Inc.’s stock, are generally classified as a return of capital. Distributions in excess of a stockholder’s U.S. federal income tax basis in Digital Realty Trust, Inc.’s stock are generally characterized as capital gain. Cash provided by operating activities has generally been sufficient to fund all distributions, however, in the future we may also need to utilize borrowings under the global revolving credit facility to fund all or a portion of distributions. (e) Accumulated Other Comprehensive Loss, Net The accumulated balances for each item within other comprehensive income (loss), net are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency ​ Cash flow ​ Foreign currency net ​ Accumulated other ​ ​ translation ​ hedge ​ investment hedge ​ comprehensive ​ adjustments adjustments adjustments income (loss), net Balance as of December 31, 2019 ​ $ (114,947) ​ $ 1,287 ​ $ 25,738 ​ $ (87,922) Net current period change ​ (344,350) ​ (11,412) ​ — ​ (355,762) Reclassification to interest expense from interest ​ — ​ (538) ​ — ​ (538) Balance as of March 31, 2020 ​ $ (459,297) ​ $ (10,663) ​ $ 25,738 ​ $ (444,222) ​

Capital and Accumulated Other C

Capital and Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2020
Digital Realty Trust, L.P.
Class of Stock [Line Items]
Capital and Accumulated Other Comprehensive Income (Loss)	14. Capital and Accumulated Other Comprehensive Loss (a) Allocations of Net Income and Net Losses to Partners Except for special allocations to holders of profits interest units described below in Note 15(a) under the heading “Incentive Plan—Long-Term Incentive Units,” the Operating Partnership’s net income will generally be allocated to Digital Realty Trust, Inc. (the General Partner) to the extent of the accrued preferred return on its preferred units, and then to the General Partner and the Operating Partnership’s limited partners in accordance with the respective percentage interests in the common units issued by the Operating Partnership. Net loss will generally be allocated to the General Partner and the Operating Partnership’s limited partners in accordance with the respective common percentage interests in the Operating Partnership until the limited partner’s capital is reduced to zero and any remaining net loss would be allocated to the General Partner. However, in some cases, losses may be disproportionately allocated to partners who have guaranteed our debt. The allocations described above are subject to special allocations relating to depreciation deductions and to compliance with the provisions of Sections 704(b) and 704(c) of the Code, and the associated Treasury Regulations. (b) Equity Distribution Agreement On January 4, 2019, Digital Realty Trust, Inc. entered into the 2019 Equity Distribution Agreement under which it can issue and sell shares of its common stock having an aggregate offering price of up to $1.0 billion from time to time in “at the market” offerings as defined in Rule 415 of the Securities Act. For the three months ended March 31, 2020, Digital Realty Trust, Inc. generated net proceeds of approximately $6.8 million from the issuance of approximately 50,000 common shares under the 2019 Equity Distribution Agreement at an average price of $138.17 per share after payment of approximately $0.1 million of commissions to the Agents. Subsequent to March 31, 2020, Digital Realty Trust, Inc. generated net proceeds of approximately $638.9 million from the issuance of approximately 4.5 million common shares under the 2019 Equity Distribution Agreement at an average price of $142.43 per share after payment of approximately $6.5 million of commissions to the Agents, and approximately $347.8 million remains available for future sales under the program. The proceeds from the issuances were contributed to our Operating Partnership in exchange for the issuance of approximately 4.6 million common units to Digital Realty Trust, Inc. (c) Forward Equity Sale On September 27, 2018, Digital Realty Trust, Inc. completed an underwritten public offering of 9,775,000 shares of its common stock (including 1,275,000 shares from the exercise in full of the underwriters’ option to purchase additional shares), all of which were offered in connection with forward sale agreements it entered into with certain financial institutions acting as forward purchasers. The forward purchasers borrowed and sold an aggregate of 9,775,000 shares of Digital Realty Trust, Inc.’s common stock in the public offering. Digital Realty Trust, Inc. did not receive any proceeds from the sale of our common stock by the forward purchasers in the public offering. The Company expects to receive net proceeds of approximately $1.0 billion (net of fees and estimated expenses) upon full physical settlement of the forward sale agreements. On September 17, 2019, Digital Realty Trust, Inc. amended the forward sale agreements to extend the maturity date of such forward sales agreements from September 27, 2019 to September 25, 2020. Upon physical settlement of the forward sale agreements, the Operating Partnership is expected to issue partnership units to Digital Realty Trust, Inc. in exchange for contribution of the net proceeds. (d) Partnership Units Limited partners have the right to require the Operating Partnership to redeem part or all of their common units for cash based on the fair market value of an equivalent number of shares of the General Partner’s common stock at the time of redemption. Alternatively, the General Partner may elect to acquire those common units in exchange for shares of the General Partner’s common stock on a one-for-one basis, subject to adjustment in the event of stock splits, stock dividends, issuance of stock rights, specified extraordinary distributions and similar events. Pursuant to authoritative accounting guidance, the Operating Partnership evaluated whether it controls the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the share settlement of the limited partners’ common units and the vested incentive units. Based on the results of this analysis, the Operating Partnership concluded that the common units and incentive units of the Operating Partnership met the criteria to be classified within capital, except for certain common units issued to certain former DFT Operating Partnership unitholders in the DFT Merger which are subject to certain restrictions and are not presented as permanent capital in the condensed consolidated balance sheet. The redemption value of the limited partners’ common units and the vested incentive units was approximately $1,114.3 million and $997.6 million based on the closing market price of Digital Realty Trust, Inc.’s common stock on March 31, 2020 and December 31, 2019, respectively. (e) Distributions All distributions on the Operating Partnership’s units are at the discretion of Digital Realty Trust, Inc.’s Board of Directors. The Operating Partnership has declared and paid the following distributions on its common and preferred units for the three months ended March 31, 2020 (in thousands, except for per unit data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Series C ​ Series G ​ Series I ​ Series J ​ Series K ​ Series L ​ ​ ​ ​ ​ ​ ​ ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ Common ​ Date distribution declared Distribution payment date Units Units Units Units Units ​ Units ​ Units ​ February 26, 2020 ​ March 31, 2020 ​ $ 3,333 ​ $ 3,672 ​ $ 3,969 ​ $ 2,625 ​ $ 3,071 ​ $ 4,485 ​ $ 305,267 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Annual rate of distribution per unit ​ ​ ​ $ 1.65625 ​ $ 1.46875 ​ $ 1.58750 ​ $ 1.31250 ​ $ 1.46250 ​ $ 1.30000 ​ $ 4.48000 ​ ​ (f) Accumulated Other Comprehensive Loss The accumulated balances for each item within other comprehensive income are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency ​ ​ ​ Foreign currency net ​ Accumulated other ​ ​ translation ​ Cash flow hedge ​ investment hedge ​ comprehensive ​ adjustments adjustments adjustments loss Balance as of December 31, 2019 ​ $ (117,869) ​ $ 308 ​ $ 26,152 ​ $ (91,409) Net current period change ​ (357,202) ​ (11,838) ​ — ​ (369,040) Reclassification to interest expense from interest ​ — ​ (558) ​ — ​ (558) Balance as of March 31, 2020 ​ $ (475,071) ​ $ (12,088) ​ $ 26,152 ​ $ (461,007) ​

Incentive Plan

Incentive Plan	3 Months Ended
	Mar. 31, 2020
Incentive Plan
Incentive Plan	15. Incentive Plan On April 28, 2014, our stockholders approved the Digital Realty Trust, Inc., Digital Services, Inc., and Digital Realty Trust, L.P. 2014 Incentive Award Plan (as amended, the 2014 Incentive Award Plan). The 2014 Incentive Award Plan became effective and replaced the Amended and Restated 2004 Incentive Award Plan, as amended, as of the date of such stockholder approval. The material features of the 2014 Incentive Award Plan are described in our definitive Proxy Statement filed on March 19, 2014 On March 9, 2020, in connection with the Interxion Combination, certain outstanding awards granted under the InterXion Holding N.V. 2013 Amended International Equity Based Incentive Plan and the InterXion Holding N.V. 2017 Executive Director Long Term Incentive Plan (together, the “InterXion Equity Plans”) were assumed by Digital Realty Trust, Inc. and converted into adjusted equity-based awards of Digital Realty Trust, Inc. common stock in accordance with the terms of the Purchase Agreement for the Interxion Combination. All such awards will continue to be governed by the terms of the applicable Interxion equity plan and underlying award agreement evidencing such award. On March 9, 2020, Digital Realty Trust, Inc. common stock As of March 31, 2020, approximately 6.1 million shares of common stock, including awards convertible into or exchangeable for shares of common stock, remained available for future issuance under the 2014 Incentive Award Plan. Each long-term incentive unit and each Class D unit issued under the 2014 Incentive Award Plan counts as one share of common stock for purposes of calculating the limit on shares that may be issued under the 2014 Incentive Award Plan and the individual award limits set forth therein. Below is a summary of our compensation expense for the three months ended March 31, 2020 and 2019 and our unearned compensation as of March 31, 2020 and December 31, 2019 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Expected ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ period to ​ ​ Deferred Compensation ​ Unearned Compensation recognize ​ ​ Expensed ​ Capitalized ​ As of ​ As of unearned ​ Three Months Ended March 31, March 31, ​ December 31, compensation Type of incentive award 2020 2019 2020 2019 2020 2019 (in years) Long-term incentive units ​ $ 3.1 ​ $ 1.4 ​ $ 0.1 ​ $ — ​ $ 24.7 ​ $ 15.4 2.5 Performance-based awards (1) ​ 4.7 ​ 3.1 ​ 0.2 ​ 0.2 ​ 41.4 ​ 28.4 3.0 Restricted stock ​ 3.2 ​ 2.6 ​ 0.8 ​ 0.6 ​ 50.0 ​ 29.1 3.1 Interxion awards ​ ​ 3.0 ​ ​ — ​ ​ — ​ ​ — ​ ​ 47.5 ​ ​ — ​ 2.7 (1) In addition to the market performance-based awards and long-term incentive awards described in Notes 15(a) and 15(b), this also includes a one-time grant of 64,709 performance-based Class D units and performance-based restricted stock units, subject to attainment of performance metrics related to successful integration of the Interxion Combination, and a one-time grant of 25,635 time-based profits interest units and time-based restricted stock units subject to the closing of the Interxion Combination to certain of the Company’s executive officers. The grant date fair values, which equal the market price of Digital Realty Trust, Inc. common stock on the applicable grant date(s), are being expensed between two and three years , the current vesting period of these awards. (a) Long-Term Incentive Units Long-term incentive units, which are also referred to as profits interest units, may be issued to eligible participants for the performance of services to or for the benefit of the Operating Partnership. Long-term incentive units (other than Class D units), whether vested or not, will receive the same quarterly per unit distributions as Operating Partnership common units, which equal the per share distributions on Digital Realty Trust, Inc. common stock. Initially, long-term incentive units do not have full parity with common units with respect to liquidating distributions. If such parity is reached, vested long-term incentive units may be converted into an equal number of common units of the Operating Partnership at any time, and thereafter enjoy all the rights and privileges of common units of the Operating Partnership, including redemption rights. For a discussion of how long-term incentive units achieve parity with common units, see Note 14(a) to our consolidated financial statements for the fiscal year ended December 31, 2019, included in our Annual Report on Form 10-K for the year ended December 31, 2019. Below is a summary of our long-term incentive unit activity for the three months ended March 31, 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ ​ ​ Grant Date Fair Unvested Long-term Incentive Units ​ Units Value Unvested, beginning of period 208,287 ​ $ 110.00 Granted 76,044 ​ 132.62 Vested (70,406) ​ 109.82 Cancelled or expired (2,131) ​ 108.57 Unvested, end of period 211,794 ​ $ 118.19 ​ The grant date fair values, which equal the market price of Digital Realty Trust, Inc. common stock on the applicable grant date(s), are being expensed on a straight-line basis for service awards between two (b) Market Performance-Based Awards During the three months ended March 31, 2020 and 2019, the Compensation Committee of the Board of Directors of Digital Realty Trust, Inc. approved the grant of market performance-based Class D units of the Operating Partnership and market performance-based restricted stock units, or RSUs, covering shares of Digital Realty Trust, Inc.’s common stock (collectively, the “awards”), under the 2014 Incentive Award Plan to officers and employees of the Company. The awards, which were determined to contain a market condition, utilize total shareholder return, or TSR, over a three-year measurement period as the market performance metric. Awards will vest based on the Company’s TSR relative to the MSCI US REIT Index, or RMS, over a three-year market performance period, or the Market Performance Period, commencing in January 2019 or January 2020, as applicable (or, if earlier, ending on the date on which a change in control of the Company occurs), subject to continued services. Vesting with respect to the market condition is measured based on the difference between Digital Realty Trust, Inc.’s TSR percentage and the TSR percentage of the RMS, or the RMS Relative Market Performance. In the event that the RMS Relative Market Performance during the applicable Market Performance Period is achieved at the “threshold,” “target” or “high” level as set forth below, the awards will become vested as to the market condition with respect to the percentage of Class D units or RSUs, as applicable, set forth below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Market ​ ​ 2019 ​ 2020 Performance ​ ​ ​ RMS Relative ​ RMS Relative Vesting ​ Level Market Performance ​ Market Performance Percentage ​ Below Threshold Level ≤ -300 basis points ​ ≤ -500 basis points 0 % Threshold Level -300 basis points ​ -500 basis points 25 % Target Level 100 basis points ​ 0 basis points 50 % High Level ≥ 500 basis points ​ ≥ 500 basis points 100 % ​ If the RMS Relative Market Performance falls between the levels specified above, the percentage of the award that will vest with respect to the market condition will be determined using straight-line linear interpolation between such levels. In January 2020, following the completion of the applicable Market Performance Period, the Compensation Committee determined that the RMS Relative Market Performance fell between the target and high level for the 2017 awards and, accordingly, 137,816 Class D units (including 10,971 distribution equivalent units that immediately vested on December 31, 2019) and 29,141 RSUs performance vested, subject to service-based vesting. On February 27, 2020, 50% of the 2017 awards vested and the remaining 50% will vest on February 27, 2021, subject to continued employment through each applicable vesting date. In January 2019, following the completion of the applicable Market Performance Period, the Compensation Committee determined that the high level had been achieved for the 2016 awards and, accordingly, 339,317 Class D units (including 31,009 distribution equivalent units that immediately vested on December 31, 2018, upon the high level being achieved) and 56,778 RSUs performance vested, subject to service-based vesting. On February 27, 2019, 50% of the 2016 awards vested and the remaining 50% vested on February 27, 2020. Following the completion of the applicable Market Performance Period, the 2018 awards that satisfy the market condition, if any, will vest 50% on February 27, 2021 and 50% on February 27, 2022, subject to continued employment through each applicable vesting date. Following the completion of the applicable Market Performance Period, the 2019 awards that satisfy the market condition, if any, will vest 50% on February 27, 2022 and 50% on February 27, 2023, subject to continued employment through each applicable vesting date. Following the completion of the applicable Market Performance Period, the 2020 awards that satisfy the market condition, if any, will vest 50% on February 27, 2023 and 50% on February 27, 2024, subject to continued employment through each applicable vesting date. Service-based vesting will be accelerated, in full or on a pro rata basis, as applicable, in the event of a change in control, termination of employment by the Company without cause, or termination of employment by the award recipient for good reason, death, disability or retirement, in any case, prior to the completion of the applicable Market Performance Period. However, vesting with respect to the market condition will continue to be measured based on RMS Relative Market Performance during the applicable three-year Market Performance Period (or, in the case of a change in control, shortened Market Performance Period). The fair values of the awards were measured using a Monte Carlo simulation to estimate the probability of the market vesting condition being satisfied. The Company’s achievement of the market vesting condition is contingent on its TSR over a three-year market performance period, relative to the TSR of the RMS. The Monte Carlo simulation is a probabilistic technique based on the underlying theory of the Black-Scholes formula, which was run for 100,000 trials to determine the fair value of the awards. For each trial, the payoff to an award is calculated at the settlement date and is then discounted to the grant date at a risk-free interest rate. The total expected value of the awards on the grant date was determined by multiplying the average value per award over all trials by the number of awards granted. Assumptions used in the valuations are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ Expected Stock Price Risk-Free Interest ​ Award Date Volatility rate ​ January 1, 2019 ​ 23 % 2.44 % February 21, 2019 ​ 23 % 2.48 % February 19, 2020 ​ 22 % 1.39 % February 20, 2020 ​ 22 % 1.35 % ​ These valuations were performed in a risk-neutral framework, and no assumption was made with respect to an equity risk premium. The grant date fair value of the Class D unit and RSU awards was approximately $17.2 million and $20.3 million for the three months ended March 31, 2020 and 2019, respectively. We will recognize compensation expense on a straight-line basis over the expected service period of approximately four years. (c) Restricted Stock Below is a summary of our restricted stock activity for the three months ended March 31, 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ ​ ​ Grant Date Fair Unvested Restricted Stock Shares Value Unvested, beginning of period 372,792 ​ $ 108.47 Granted (1) 759,342 ​ 124.41 Vested (122,683) ​ 104.20 Cancelled or expired (6,384) ​ 117.55 Unvested, end of period 1,003,067 ​ $ 121.01 ​ (1) Includes 567,810 shares issuable pursuant to the converted and adjusted Interxion equity awards as part of the Interxion Combination. The grant date fair values, which equal the market price of Digital Realty Trust, Inc. common stock on the grant date, are expensed on a straight-line basis for service awards over the vesting period of the restricted stock, which is generally four years.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2020
Derivative Instruments
Derivative Instruments	16. Derivative Instruments Currently, we use interest rate swaps to manage our interest rate risk. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. To comply with the provisions of fair value accounting guidance, we incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties. However, as of March 31, 2020, we have assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and have determined that the credit valuation adjustments are not significant to the overall valuation of our derivatives. As a result, we have determined that our derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. We do not have any fair value measurements on a recurring basis using significant unobservable inputs (Level 3) as of March 31, 2020 or December 31, 2019. The Company presents its interest rate derivatives in its condensed consolidated balance sheets on a gross basis as interest rate swap assets (recorded in other assets) and interest rate swap liabilities (recorded in accounts payable and other accrued liabilities). As of March 31, 2020, there was no impact from netting arrangements as the Company did not have any derivatives in asset positions. Cash Flow Hedges of Interest Rate Risk Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements related to certain floating rate debt obligations. To accomplish this objective, we primarily use interest rate swaps as part of our interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. We record all our interest rate swaps on the consolidated balance sheets at fair value. In determining the fair value of our interest rate swaps, we consider the credit risk of our counterparties. These counterparties are generally larger financial institutions engaged in providing a variety of financial services. These institutions generally face similar risks regarding adverse changes in market and economic conditions, including, but not limited to, fluctuations in interest rates, exchange rates, equity and commodity prices and credit spreads. The recent and pervasive disruptions in the financial markets have heightened the risks to these institutions. ​ ​ ​ ​ As of March 31, 2020 and December 31, 2019, we had the following outstanding interest rate derivatives that were designated as effective cash flow hedges of interest rate risk (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at Significant Other Notional Amount ​ ​ ​ ​ ​ ​ ​ ​ ​ Observable Inputs (Level 2) As of ​ As of ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of March 31, ​ December 31, ​ Type of ​ Strike ​ Effective ​ Expiration ​ March 31, ​ December 31, 2020 2019 Derivative Rate Date Date 2020 (3) 2019 (3) Current contracts ​ ​ ​ $ 29,000 (1) $ 29,000 (1) Swap 1.016 ​ Apr 6, 2016 ​ Jan 6, 2021 ​ $ (143) ​ $ 175 ​ 75,000 (1) 75,000 (1) Swap 1.164 ​ Jan 15, 2016 ​ Jan 15, 2021 ​ (483) ​ 345 ​ 300,000 (1) 300,000 (1) Swap 1.435 ​ Jan 15, 2016 ​ Jan 15, 2023 ​ (9,612) ​ 945 ​ 70,024 (2) 75,825 (2) Swap 0.779 ​ Jan 15, 2016 ​ Jan 15, 2021 ​ (24) ​ 931 $ 474,024 ​ $ 479,825 ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (10,262) ​ $ 2,396 (1) Represents debt which bears interest based on one-month U.S. LIBOR. (2) Represents debt which bears interest based on one-month CDOR. Translation to U.S. dollars is based on exchange rates of $0.71 to 1.00 CAD as of March 31, 2020 and $0.77 to 1.00 CAD as of December 31, 2019. (3) Balance recorded in other assets in the consolidated balance sheets if positive and recorded in accounts payable and other accrued liabilities in the consolidated balance sheets if negative. As of March 31, 2020, we estimate that an additional $4.1 million will be reclassified as an increase to interest expense during the twelve months ended March 31, 2021, when the hedged forecasted transactions impact earnings. Credit-risk-related Contingent Features We have agreements with each of our derivative counterparties that contain a provision where we could be declared in default on our derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to our default on the indebtedness. As of March 31, 2020, we did not have any derivatives in a net asset position, and have not posted any collateral related to these agreements.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2020
Fair Value of Financial Instruments
Fair Value of Financial Instruments	17. Fair Value of Financial Instruments We disclose fair value information about all financial instruments, whether or not recognized in the condensed consolidated balance sheets, for which it is practicable to estimate fair value. Current accounting guidance requires the Company to disclose fair value information about all financial instruments, whether or not recognized in the balance sheets, for which it is practicable to estimate fair value. The Company’s disclosures of estimated fair value of financial instruments at March 31, 2020 and December 31, 2019 were determined using available market information and appropriate valuation methods. Considerable judgment is necessary to interpret market data and develop estimated fair value. The use of different market assumptions or estimation methods may have a material effect on the estimated fair value amounts. The carrying amounts for cash and cash equivalents, restricted cash, accounts and other receivables, accounts payable and other accrued liabilities, accrued dividends and distributions, security deposits and prepaid rents approximate fair value because of the short-term nature of these instruments. As described in Note 16. "Derivative Instruments", the interest rate swap contracts are recorded at fair value. We calculate the fair value of our mortgage loans, unsecured term loans and unsecured senior notes based on currently available market rates assuming the loans are outstanding through maturity and considering the collateral and other loan terms. In determining the current market rate for fixed rate debt, a market spread is added to the quoted yields on federal government treasury securities with similar maturity dates to our debt. The carrying value of our global revolving credit facilities approximates fair value, due to the variability of interest rates. As of March 31, 2020 and December 31, 2019, the aggregate estimated fair value and carrying value of our global revolving credit facilities, unsecured term loans, unsecured senior notes and mortgage loans were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Categorization ​ As of March 31, 2020 ​ As of December 31, 2019 ​ ​ under the fair value ​ Estimated Fair ​ ​ ​ ​ Estimated Fair ​ ​ ​ ​ hierarchy Value Carrying Value Value Carrying Value Global revolving credit facilities (1)(4) Level 2 ​ $ 613,913 ​ $ 613,913 ​ $ 245,766 ​ $ 245,766 Unsecured term loans (2)(4) Level 2 ​ 774,096 ​ 774,096 ​ 813,205 ​ 813,205 Unsecured senior notes (3)(4) Level 2 ​ 10,656,920 ​ 10,722,212 ​ 9,697,166 ​ 9,025,229 Secured debt (3)(4) Level 2 ​ 224,528 ​ 239,964 ​ 105,245 ​ 105,143 ​ ​ ​ ​ $ 12,269,457 ​ $ 12,350,185 ​ $ 10,861,382 ​ $ 10,189,343 (1) The carrying value of our global revolving credit facilities approximates estimated fair value, due to the variability of interest rates and the stability of our credit ratings. (2) The carrying value of our unsecured term loans approximates estimated fair value, due to the variability of interest rates and the stability of our credit ratings. (3) Valuations for our unsecured senior notes and secured debt are determined based on the expected future payments discounted at risk-adjusted rates and quoted market prices. (4) The carrying value excludes unamortized premiums (discounts) and deferred financing costs (see Note 9).

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies.
Commitments and Contingencies	18. Commitments and Contingencies (a) Construction Commitments Our properties require periodic investments of capital for tenant-related capital expenditures and for general capital improvements including ground up construction. From time to time in the normal course of our business, we enter into various construction contracts with third parties that may obligate us to make payments. At March 31, 2020, we had open commitments, including amounts reimbursable of approximately $23.9 million, related to construction contracts of approximately $969.8 million. (b) Legal Proceedings Although the Company is involved in legal proceedings arising in the ordinary course of business, as of March 31, 2020, the Company is not currently a party to any legal proceedings nor, to its knowledge, is any legal proceeding threatened against it that it believes would have a material adverse effect on its financial position, results of operations or liquidity.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Summary of Significant Accounting Policies
Principles of Consolidation and Basis of Presentation	(a) Principles of Consolidation and Basis of Presentation The accompanying interim condensed consolidated financial statements include all of the accounts of Digital Realty Trust, Inc., the Operating Partnership and the subsidiaries of the Operating Partnership. Intercompany balances and transactions have been eliminated. The accompanying interim condensed consolidated financial statements are unaudited, but have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) for interim financial information and in compliance with the rules and regulations of the U.S. Securities and Exchange Commission. Accordingly, they do not include all of the disclosures required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments necessary for a fair presentation have been included. All such adjustments are considered to be of a normal recurring nature, except as otherwise indicated. The results of operations for the interim periods are not necessarily indicative of the results to be obtained for the full fiscal year. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our annual report on Form 10-K for the year ended December 31, 2019. The notes to the condensed consolidated financial statements of Digital Realty Trust, Inc. and the Operating Partnership have been combined to provide the following benefits: ● enhancing investors’ understanding of the Company and the Operating Partnership by enabling investors to view the business as a whole in the same manner as management views and operates the business; ● eliminating duplicative disclosure and providing a more streamlined and readable presentation since a substantial portion of the disclosure applies to both the Company and the Operating Partnership; and ● creating time and cost efficiencies through the preparation of one set of notes instead of two separate sets of notes. There are few differences between the Company and the Operating Partnership, which are reflected in these condensed consolidated financial statements. We believe it is important to understand the differences between the Company and the Operating Partnership in the context of how we operate as an interrelated consolidated company. Digital Realty Trust, Inc.’s only material asset is its ownership of partnership interests of the Operating Partnership. As a result, Digital Realty Trust, Inc. generally does not conduct business itself, other than acting as the sole general partner of the Operating Partnership, issuing public securities from time to time and guaranteeing certain unsecured debt of the Operating Partnership and certain of its subsidiaries and affiliates. Digital Realty Trust, Inc. itself has not issued any indebtedness but guarantees the unsecured debt of the Operating Partnership and certain of its subsidiaries and affiliates, as disclosed in these notes. The Operating Partnership holds substantially all the assets of the Company and holds the ownership interests in the Company’s joint ventures. The Operating Partnership conducts the operations of the business and is structured as a partnership with no publicly traded equity. Except for net proceeds from public equity issuances by Digital Realty Trust, Inc., which are generally contributed to the Operating Partnership in exchange for partnership units, the Operating Partnership generally generates the capital required by the Company’s business primarily through the Operating Partnership’s operations, by the Operating Partnership’s or its affiliates’ direct or indirect incurrence of indebtedness or through the issuance of partnership units. The presentation of noncontrolling interests in operating partnership, stockholders’ equity and partners’ capital are the main areas of difference between the condensed consolidated financial statements of Digital Realty Trust, Inc. and those of the Operating Partnership. The common limited partnership interests held by the limited partners in the Operating Partnership are presented as limited partners’ capital within partners’ capital in the Operating Partnership’s condensed consolidated financial statements and as noncontrolling interests in operating partnership within equity in Digital Realty Trust, Inc.’s condensed consolidated financial statements. The common and preferred partnership interests held by Digital Realty Trust, Inc. in the Operating Partnership are presented as general partner’s capital within partners’ capital in the Operating Partnership’s condensed consolidated financial statements and as preferred stock, common stock, additional paid-in capital and accumulated dividends in excess of earnings within stockholders’ equity in Digital Realty Trust, Inc.’s condensed consolidated financial statements. The differences in the presentations between stockholders’ equity and partners’ capital result from the differences in the equity issued at the Digital Realty Trust, Inc. and the Operating Partnership levels. To help investors understand the significant differences between the Company and the Operating Partnership, these consolidated financial statements present the following separate sections for each of the Company and the Operating Partnership: ● condensed consolidated face financial statements; and ● the following notes to the condensed consolidated financial statements: ● "Debt of the Company" and "Debt of the Operating Partnership"; ● "Income per Share" and "Income per Unit"; and ● "Equity and Accumulated Other Comprehensive Loss, Net of the Company" and "Capital and Accumulated Other Comprehensive Loss of the Operating Partnership". In the sections that combine disclosure of Digital Realty Trust, Inc. and the Operating Partnership, these notes refer to actions or holdings as being actions or holdings of the Company. Although the Operating Partnership is generally the entity that enters into contracts and joint ventures and holds assets and debt, reference to the Company is appropriate because the business is one enterprise and the Company generally operates the business through the Operating Partnership.
Cash Equivalents	(b) Cash Equivalents For the purpose of the condensed consolidated statements of cash flows, we consider short-term investments with original maturities of 90 days or less to be cash equivalents. As of March 31, 2020 and December 31, 2019, cash equivalents consist of investments in money market instruments.
Investment in Unconsolidated Joint Ventures	(c) Investments in Unconsolidated Joint Ventures The Company’s investments in unconsolidated joint ventures are accounted for using the equity method. We use the equity method when we have the ability to exercise significant influence over operating and financial policies of the venture but do not have control of the entity. Under the equity method, we initially recognize these investments in the balance sheet at our cost or proportionate share of fair value. We subsequently adjust the accounts to reflect our proportionate share of net earnings or losses recognized and other comprehensive income or loss, distributions received, contributions made and certain other adjustments, as appropriate. We do not record losses of the joint ventures in excess of our investment balances unless we are liable for the obligations of the joint venture or are otherwise committed to provide financial support to the joint venture. Likewise, and as long as we have no explicit or implicit obligations to the joint venture, we will suspend equity method accounting to the extent that cash distributions exceed our investment balances until those unrecorded earnings exceed the excess distributions previously recognized in income. In this case, we will apply cost accounting concepts which result in income being equal to cash distributions received. Cost basis accounting concepts will apply until earnings exceed the excess distributions previously recognized in income. We amortize the difference between the cost of our investment in the joint ventures and the book value of the underlying equity into income on a straight-line basis consistent with the lives of the underlying assets. In the event the underlying asset is goodwill, the difference is not amortized. The amortization of this difference was immaterial for the three months ended March 31, 2020 and 2019, respectively.
Impairment of Long-Lived and Finite-Lived Intangible Assets	(d) Impairment of Long-Lived and Finite-Lived Intangible Assets We review each of our properties for indicators that its carrying amount may not be recoverable. Examples of such indicators may include a significant decrease in the market price of the property, a change in the expected holding period for the property, a significant adverse change in how the property is being used or expected to be used based on the underwriting at the time of acquisition, an accumulation of costs significantly in excess of the amount originally expected for the acquisition or development of the property, or a history of operating or cash flow losses of the property. When such impairment indicators exist, we review an estimate of the future undiscounted net cash flows (excluding interest charges) expected to result from the property’s or asset group’s use and eventual disposition and compare that estimate to the carrying value of the property or the asset group. We consider factors such as future operating income, trends and prospects, as well as the effects of leasing demand, competition and other factors. If our future undiscounted net cash flow evaluation indicates that we are unable to recover the carrying value of a property or asset group, an impairment loss is recorded to the extent that the carrying value exceeds the estimated fair value of the property or fair value of the properties within the asset group. The evaluation of anticipated cash flows is highly subjective and is based in part on assumptions regarding future occupancy, rental rates and capital requirements that could differ materially from actual results in future periods. If we determine that the asset fails the recoverability test, the affected assets must be reduced to their fair value. We generally estimate the fair value of rental properties utilizing a discounted cash flow analysis that includes projections of future revenues, expenses and capital improvement costs that a market participant would use based on the highest and best use of the asset, which is similar to the income approach that is commonly utilized by appraisers. In certain cases, we may supplement this analysis by obtaining outside broker opinions of value. In considering whether to classify a property as held for sale or contribution, the Company considers whether: (i) management has committed to a plan to sell or contribute the property; (ii) the property is available for immediate sale or contribution in its present condition; (iii) the Company has initiated a program to locate a buyer or joint venture partner; (iv) the Company believes that the sale or contribution of the property is probable; (v) the Company is actively marketing the property for sale or contribution at a price that is reasonable in relation to its current value; and (vi) actions required for the Company to complete the plan indicate that it is unlikely that any significant changes will be made to the plan. If all the above criteria are met, the Company classifies the property as held for sale or contribution. Assets classified as held for sale are expected to be sold to a third party and assets classified as held for contribution are expected to be contributed to an unconsolidated joint venture or to a third party within twelve months. At such time, the respective assets and liabilities are presented separately in the consolidated balance sheets and depreciation is no longer recognized. Assets held for sale or contribution are reported at the lower of their carrying amount or their estimated fair value less the costs to sell or contribute. Only those assets held for sale or contribution that constitute a strategic shift that has or will have a major effect on our operations are classified as discontinued operations. To date we have had no property dispositions or assets classified as held for sale or contribution that would meet the definition of discontinued operations. If impairment indicators arise with respect to intangible assets with finite useful lives, we evaluate impairment by comparing the carrying amount of the asset to the estimated future undiscounted net cash flows expected to be generated by the asset. If estimated future undiscounted net cash flows are less than the carrying amount of the asset, then we estimate the fair value of the asset and compare the estimated fair value to the intangible asset’s carrying value. We recognize any shortfall from carrying value as an impairment loss in the current period.
Acquisition Accounting	(e) Acquisition Accounting Acquisition accounting is applied to the assets and liabilities related to all real estate investments acquired from third parties. The Company evaluates the nature of the purchase to determine whether the purchase is a business combination or an asset acquisition. Transaction costs associated with business combinations are expensed as incurred while transaction costs associated with an asset acquisition are included in the total costs of the acquisition and are allocated on a pro-rata basis to the carrying value of the assets and liabilities recognized in connection with the acquisition. The following accounting policies related to valuing the acquired tangible and intangible assets and liabilities are applicable to both business combinations and asset acquisitions. However, in the event the purchase is an asset acquisition, no goodwill or gain is permitted to be recognized. In an asset acquisition, the difference between the sum of the identified tangible and intangible assets and liabilities and the total purchase price (including transactions costs) is allocated to the identified tangible and intangible assets and liabilities on a relative fair value basis. In accordance with current accounting guidance , The fair values of the tangible assets of an acquired property are determined based on comparable land sales for land and replacement costs adjusted for physical and market obsolescence for the improvements. The fair values of the tangible assets of an acquired property are also determined by valuing the property as if it were vacant, and the “as-if-vacant” value is then allocated to land, building and tenant improvements based on management’s determination of the relative fair values of these assets. Management determines the as-if-vacant fair value of a property based on assumptions that a market participant would use, which is similar to methods used by independent appraisers. Factors considered by management in performing these analyses include an estimate of carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rental revenue during the expected lease-up periods based on current market demand. Management also estimates costs to execute similar leases including leasing commissions, tenant improvements, legal and other related costs. In allocating the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market in-place lease values are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) estimated fair market lease rates from the perspective of a market participant for the corresponding in-place leases, measured, for above-market leases, over a period equal to the remaining non-cancelable term of the lease and, for below-market leases, over a period equal to the initial term plus any below-market fixed rate renewal periods. The leases we have acquired do not currently include any below-market fixed rate renewal periods. The capitalized above-market lease values are amortized as a reduction of rental income over the remaining non-cancelable terms of the respective leases. The capitalized below-market lease values, also referred to as acquired lease obligations, are amortized as an increase to rental income over the initial terms of the respective leases and any below-market fixed rate renewal periods. In addition to the intangible value for above-market leases and the intangible negative value for below-market leases, there is intangible value related to having tenants leasing space in the purchased property, which is referred to as in-place lease value. Such value results primarily from the buyer of a leased property avoiding the costs associated with leasing the property and also avoiding rent losses and unreimbursed operating expenses during the lease-up period. Factors to be considered by management in its analysis of in-place lease values include an estimate of carrying costs during hypothetical expected lease-up periods considering current market conditions, and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rental revenue at market rates during the expected lease-up periods, depending on local market conditions. In estimating costs to execute similar leases, management considers leasing commissions, legal and other related expenses. The value of in-place leases is amortized to expense over the remaining initial terms of the respective leases. The Company uses the excess earnings method to value customer relationship value, if any. Such value exists in transactions that involve the acquisition of customers that are expected to generate recurring revenues beyond existing in-place lease terms. The primary factors to be considered by management in its analysis of customer relationship value include historical customer lease renewals and attrition rates, rental renewal probabilities and related market terms, estimated operating costs, and discount rate. Customer relationship value is amortized to expense ratably over the anticipated life of the customer relationships generating excess earnings, which is the period management uses to value this intangible asset.
Goodwill	(f) Goodwill ​ Goodwill represents the excess of the purchase price over the fair value of net tangible and intangible assets acquired and tangible and intangible liabilities assumed in a business combination. Goodwill is not amortized. We perform an annual impairment test for goodwill and between annual tests, we evaluate goodwill for impairment whenever events or changes in circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. In January 2017, the FASB issued new accounting guidance on simplifying the test for goodwill impairment. Prior to 2020, the standard required an entity to perform a two-step test to determine the amount, if any, of goodwill impairment. In Step 1, an entity compared the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeded its fair value, the entity performed Step 2 and compared the implied fair value of goodwill with the carrying amount of that goodwill for that reporting unit. An impairment charge equal to the amount by which the carrying amount of goodwill for the reporting unit exceeded the implied fair value of that goodwill is recorded, limited to the amount of goodwill allocated to that reporting unit. The new guidance removes Step 2. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment . The new guidance was effective for us in the first quarter of 2020 and was adopted on a prospective basis. The adoption of this guidance had no significant impact on our condensed consolidated financial statements. We have not recognized any goodwill impairments since our inception. Since some of the goodwill is denominated in foreign currencies, changes to the goodwill balance occur over time due to changes in foreign currency exchange rates. The following is a summary of goodwill activity for the three months ended March 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of ​ ​ ​ ​ Impact of Change ​ Balance as of ​ ​ December 31, ​ Merger / ​ in Foreign ​ March 31, Merger / Portfolio Acquisition 2019 Acquisition ​ Exchange Rates 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Telx Acquisition ​ $ 330,845 ​ $ — ​ $ — ​ $ 330,845 European Portfolio Acquisition ​ 440,079 ​ — ​ (20,250) ​ 419,829 DFT Merger ​ 2,592,146 ​ — ​ — ​ 2,592,146 Interxion Combination ​ ​ — ​ ​ 4,192,504 ​ ​ (69,278) ​ ​ 4,123,226 Total ​ $ 3,363,070 ​ $ 4,192,504 ​ $ (89,528) ​ $ 7,466,046 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Capitalization of Costs	(g) Capitalization of Costs Direct and indirect project costs that are clearly associated with the development of properties are capitalized as incurred. Project costs include all costs directly associated with the development of a property, including construction costs, interest, property taxes, insurance, legal fees and costs of personnel working on the project. Indirect costs that do not clearly relate to the projects under development are not capitalized and are charged to expense as incurred. Capitalization of costs begins when the activities necessary to get the development project ready for its intended use begins, which include costs incurred before the beginning of construction. Capitalization of costs ceases when the development project is substantially complete and ready for its intended use. Determining when a development project commences and when it is substantially complete and ready for its intended use involves a degree of judgment. We generally consider a development project to be substantially complete and ready for its intended use upon receipt of a certificate of occupancy. If and when development of a property is suspended pursuant to a formal change in the planned use of the property, we will evaluate whether the accumulated costs exceed the estimated value of the project and write off the amount of any such excess accumulated costs. For a development project that is suspended for reasons other than a formal change in the planned use of such property, the accumulated project costs are evaluated for impairment consistent with our impairment policies for long-lived assets. During the development period, all costs including the associated land are classified to construction in progress and space held for development. Upon completion of the development period for a project, accumulated construction in progress costs including the land related to a project are allocated to the specific components of a project that are benefited. Construction in progress and space held for development includes the cost of land, the cost of construction of buildings, improvements and fixed equipment, and costs for design and engineering. Other costs, such as interest, legal, property taxes and corporate project supervision, which can be directly associated with the project during construction, are also included in construction in progress and space held for development. Land held for development includes parcels of land owned by the Company, upon which the Company intends to develop and own data centers, but has yet to commence development. During the three months ended March 31, 2020 and 2019 we capitalized interest of approximately $10.5 million and $10.9 million, respectively. During the three months ended March 31, 2020 and 2019, we capitalized amounts relating to compensation and other overhead expense of employees direct and incremental to construction activities of approximately $13.7 million and $12.0 million, respectively.
Deferred Leasing Costs	(h) Deferred Leasing Costs Leasing commissions and other direct costs associated with successful leasing to customers are capitalized and amortized on a straight-line basis over the terms of the related leases. During the three months ended March 31, 2020 and 2019, we capitalized amounts relating to variable compensation of employees direct and incremental to successful leasing activities of approximately $8.6 million and $8.1 million, respectively. Deferred leasing costs is included in customer relationship value, deferred leasing costs and intangibles on the condensed consolidated balance sheet and amounted to approximately $285.8 million and $291.8 million, net of accumulated amortization, as of March 31, 2020 and December 31, 2019, respectively. Amortization expense on capitalized deferred leasing costs was approximately $18.5 million and $19.1 million for the three months ended March 31, 2020 and 2019, respectively.
Foreign Currency Translation	(i) Foreign Currency Translation Assets and liabilities of our subsidiaries outside the United States with non-U.S. dollar functional currencies are translated into U.S. dollars using exchange rates as of the balance sheet dates. Income and expenses are translated using the average exchange rates for the reporting period. Foreign currency translation adjustments are recorded as a component of other comprehensive income. In the statement of cash flows, cash flows denominated in foreign currencies are translated using the exchange rates in effect at the time of the cash flows or an average exchange rate for the period, depending on the nature of the cash flow item.
Share-Based Compensation	(j) Share-Based Compensation The Company measures all share-based compensation awards at fair value on the date they are granted to employees and directors, and recognizes compensation cost, net of forfeitures, over the requisite service period for awards with only a service condition. The estimated fair value of the long-term incentive units and Class D units (discussed in Note 15) granted by us is being amortized on a straight-line basis over the expected service period. The fair value of share-based compensation awards that contain a market condition is measured using a Monte Carlo simulation method and is not adjusted based on actual achievement of the market condition.
Derivative Instruments	(k) Derivative Instruments Derivative financial instruments are employed to manage risks, including foreign currency and interest rate exposures and are not used for trading or speculative purposes. As part of the Company’s risk management program, a variety of financial instruments, such as interest rate swaps and foreign exchange contracts, may be used to mitigate interest rate exposure and foreign currency exposure. The Company recognizes all derivative instruments in the balance sheet at fair value. Changes in the fair value of derivatives are recognized periodically either in earnings or in stockholders’ equity as a component of accumulated other comprehensive income (loss), depending on whether the derivative financial instrument is undesignated or qualifies for hedge accounting, and if so, whether it represents a fair value, cash flow, or net investment hedge. Gains and losses on derivatives designated as cash flow hedges, to the extent they are included in the assessment of effectiveness, are recorded in other comprehensive income (loss) and subsequently reclassified to earnings to offset the impact of the hedged items when they occur. In the event it becomes probable the forecasted transaction to which a cash flow hedge relates will not occur, the derivative would be terminated and the amount in other comprehensive income (loss) would be recognized in earnings. Changes in the fair value of derivatives that are designated and qualify as a hedge of the net investment in foreign operations, to the extent they are included in the assessment of effectiveness, are reported in other comprehensive income (loss) and are deferred until disposal of the underlying assets. Gains and losses representing components excluded from the assessment of effectiveness for cash flow and fair value hedges are recognized in earnings on a straight-line basis in the same caption as the hedged item over the term of the hedge. Gains and losses representing components excluded from the assessment of effectiveness for net investment hedges are recognized in earnings on a straight-line basis over the term of the hedge. The net interest paid or received on interest rate swaps is recognized as interest expense. Gains and losses resulting from the early termination of interest rate swap agreements are deferred and amortized as adjustments to interest expense over the remaining period of the debt originally covered by the terminated swap. See Note 16 for further discussion on derivative instruments.
Income Taxes	(l) Income Taxes Digital Realty Trust, Inc. has elected to be treated as a real estate investment trust (a “REIT”) for federal income tax purposes. As a REIT, Digital Realty Trust, Inc. generally is not required to pay U.S. federal corporate income tax to the extent taxable income is currently distributed to its stockholders. If Digital Realty Trust, Inc. fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income tax (including any applicable alternative minimum tax for taxable years prior to 2018) on its taxable income. The Company is subject to foreign, state and local income taxes in the jurisdictions in which it conducts business. The Company’s taxable REIT subsidiaries are subject to federal, state, local and foreign income taxes to the extent there is taxable income. Accordingly, the Company recognizes current and deferred income taxes for U.S. federal (for its taxable REIT subsidiaries), state, local and foreign jurisdictions, as appropriate. We assess our significant tax positions in accordance with U.S. GAAP for all open tax years and determine whether we have any material unrecognized liabilities from uncertain tax benefits. If a tax position is not considered “more-likely-than-not” to be sustained solely on its technical merits, no benefits of the tax position are to be recognized (for financial statement purposes). As of March 31, 2020 and December 31, 2019, we had no assets or liabilities for uncertain tax positions. We classify interest and penalties from significant uncertain tax positions as interest expense and operating expense, respectively, in our condensed consolidated income statements. For the three months ended March 31, 2020 and 2019, we had no such interest or penalties. The tax year 2016 and thereafter remain open to examination by the major taxing jurisdictions with which the Company files tax returns. See Note 12 for further discussion on income taxes.
Presentation of Transactional-Based Taxes	(m) Presentation of Transactional-based Taxes We account for transactional-based taxes, such as value added tax, or VAT, for our international properties on a net basis.
Redeemable Noncontrolling Interests	(n) Redeemable Noncontrolling Interests Redeemable noncontrolling interests include amounts related to partnership units issued by consolidated subsidiaries of the Company in which redemption for equity is outside the control of the Company. Partnership units which are determined to be contingently redeemable for cash under the Financial Accounting Standards Board’s "Distinguishing Liabilities from Equity" guidance are classified as redeemable noncontrolling interests and presented in the mezzanine section between total liabilities and stockholder’s equity on the Company’s condensed consolidated balance sheets. The amounts of consolidated net income attributable to the Company and to the noncontrolling interests are presented on the Company’s condensed consolidated income statements.
Lease Accounting	Transition On January 1, 2019, we adopted ASU No. 2016-02 “Leases” and the several additional ASU’s intended to clarify certain aspects of ASU 2016-02 and to provide certain practical expedients entities can elect upon adoption (collectively “Topic 842”). Topic 842 sets out the principles for the recognition, measurement, presentation, and disclosure of leases for both parties to a lease agreement (i.e. lessees and lessors). Upon adoption of the new lease accounting standard, we elected the following practical expedients and accounting policies provided by this lease standard: ● Package (“all or nothing” expedients) - requires us not to reevaluate our existing or expired leases as of January 1, 2019, under Topic 842 ; ● Optional transition method - requires us to apply Topic 842 prospectively from the effective date of adoption (i.e., January 1, 2019); ● Land easements - requires us to account for land easements existing as of January 1, 2019, under the accounting standards applied to them prior to January 1, 2019 ; ● Lease and non-lease components (lessee) - requires us to account for lease and non-lease components associated with that lease under Topic 842 as a single lease component, for all classes of underlying assets; ● Lease and non-lease components (lessor) - requires us to account for lease and non-lease components associated with that lease under Topic 842 as a single lease component, if certain criteria are met, for all classes of underlying assets; and ● Short-term leases practical expedient (lessee) - for leases with a term of 12 months or less in which we are the lessee, this expedient requires us not to record on our balance sheets the related lease liabilities and right-of-use assets. Our election of the package of practical expedients and the optional transition method allowed us not to reassess: ● Whether any expired or existing contracts as of January 1, 2019 are or contain leases as defined in Topic 842; ● The lease classification for any expired or existing leases as of January 1, 2019; and ● Treatment of initial direct costs relating to any existing leases as of January 1, 2019. We applied the package of practical expedients consistently to all leases (i.e., in which we are the lessee or the lessor) that commenced before January 1, 2019. The election of this package permits us to “run off” our leases that commenced before January 1, 2019, for the remainder of their lease terms and to apply the new lease accounting standard to leases commencing or modified after January 1, 2019. For our leases that commenced prior to January 1, 2019, under the package of practical expedients and optional transition method, we are not required to reassess whether initial direct leasing costs capitalized prior to the adoption of the new lease accounting standard in connection with such leases qualify for capitalization under the new lease accounting standard. Therefore, we continue to amortize these initial direct leasing costs over their respective lease terms. In addition, we applied the modified retrospective transition method to build-to-suit leases for which assets and liabilities have been recognized solely as a result of the transactions’ build-to-suit designation in accordance with Topic 840. Therefore, we derecognized those assets and liabilities at the effective date of adoption for build-to-suit leases where construction had completed, with the difference of approximately $6.3 million recorded as an increase to accumulated dividends in excess of earnings at the adoption date. We accounted for the leases therefrom, following lessee transition guidance. The remainder of our capital leases were classified as finance leases and there was no change in their carrying value or classification at the adoption date. Under the package of practical expedients that we elected upon adoption of the new lease accounting standard, all of our operating leases existing as of January 1, 2019, in which we are the lessee, continue to be classified as operating leases subsequent to the adoption of the new lease accounting standard. In accordance with the new lease accounting standard, we were required to record an operating lease liability in our consolidated balance sheet equal to the present value of remaining future rental payments in which we are the lessee existing as of January 1, 2019 and the related operating lease right-of-use asset. Consequently, on January 1, 2019, we recorded an operating lease liability aggregating $757.2 million , which included approximately $73.3 million reclassified out of the deferred rent liabilities balance in accordance with the new lease standard. We have also recorded a corresponding operating lease right-of-use asset of $683.9 million. The present value of the remaining lease payments was calculated for each operating lease existing as of January 1, 2019, in which we were the lessee by using each respective remaining lease term and a corresponding estimated incremental borrowing rate. The incremental borrowing rate is the interest rate that we estimated we would have to pay to borrow on a collateralized basis over a similar term for an amount equal to the lease payments. ​ ​ Subsequent application of the new lease accounting guidance Definition of a lease Effective January 1, 2019, when we enter into a contract or amend an existing contract, we evaluate whether the contract meets the definition of a lease. To meet the definition of a lease, the contract must meet all three criteria: (i) One party (lessor) must hold an identified asset; (ii) The counterparty (lessee) must have the right to obtain substantially all of the economic benefits from the use of the asset throughout the period of the contract; and (iii) The counterparty (lessee) must have the right to direct the use of the identified asset throughout the period of the contract. Lease classification The new lease accounting standard also sets new criteria for determining the classification of finance leases for lessees and sales-type leases for lessors. The criteria to determine whether a lease should be accounted for as a finance/sales-type lease include any of the following: (i) Ownership is transferred from lessor to lessee by the end of the lease term; (ii) An option to purchase is reasonably certain to be exercised; (iii) The lease term is for the major part of the underlying asset’s remaining economic life; (iv) The present value of lease payments equals or exceeds substantially all of the fair value of the underlying asset; or (v) The underlying asset is specialized and is expected to have no alternative use at the end of the lease term. If any of these criteria is met, a lease is classified as a finance lease by the lessee and as a sales-type lease by the lessor. If none of the criteria are met, a lease is classified as an operating lease by the lessee but may still qualify as a direct financing lease or an operating lease for the lessor. The existence of a residual value guarantee from an unrelated third party other than the lessee may qualify the lease as a direct financing lease by the lessor. Otherwise, the lease is classified as an operating lease by the lessor. Therefore, under the new lease accounting standard, lessees apply a dual approach by classifying leases as either finance or operating leases based on the principle of whether the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, which corresponds to a similar evaluation performed by lessors. ​ Lessor accounting ​ Costs to execute leases ​ The new lease accounting standard requires that lessors (and, if applicable, lessees) capitalize, as initial direct costs, only incremental costs of a lease that would not have been incurred if the lease had not been obtained. Costs that we incur to negotiate or arrange a lease, regardless of its outcome, such as for fixed employee compensation, tax, or legal advice to negotiate lease terms, and other costs, are expensed as incurred. ​ ​ ​ Operating leases ​ We account for the revenue from our lease contracts by utilizing the single component accounting policy. This policy requires us to account for, by class of underlying asset, the lease component and non-lease component(s) associated with each lease as a single component if two criteria are met: ​ (i) The timing and pattern of transfer of the lease component and the non-lease component(s) are the same; and ​ (ii) The lease component would be classified as an operating lease if it were accounted for separately. ​ Lease components consist primarily of fixed rental payments, which represent scheduled rental amounts due under our leases, and contingent rental payments. Non-lease components consist primarily of customer recoveries representing reimbursements of rental operating expenses under our triple net lease structure, including recoveries for utilities, repairs and maintenance, and common area expenses. If a lessee makes payments for taxes and insurance directly to a third party on behalf of a lessor, lessors are required to exclude them from variable payments and from recognition in the lessors’ income statements. Otherwise, customer recoveries for taxes and insurance are classified as additional lease revenue recognized by the lessor on a gross basis in their income statements. On January 1, 2019, we adopted the practical expedient that allowed us to not separate expenses reimbursed by our customers (“rental recoveries”) from the associated rental revenue if certain criteria were met. We assessed these criteria and concluded that the timing and pattern of transfer for rental revenue and the associated rental recoveries are the same and as our leases qualify as operating leases, we accounted for and presented rental revenue and rental recoveries as a single component under rental and other services in our condensed consolidated income statements. Tenant recoveries are recognized as revenue in the period during which the applicable expenses are incurred and the tenant’s obligation to reimburse us arises. If the lease component is the predominant component, we account for all revenues under such lease as a single component in accordance with the new lease accounting standard. Conversely, if the non-lease component is the predominant component, all revenues under such lease are accounted for in accordance with the revenue recognition accounting standard. Our operating leases qualify for the single component accounting, and the lease component in each of our leases is predominant. Therefore, we account for all revenues from our operating leases under the new lease accounting standard and classify these revenues as rental and other services in our consolidated income statements. ​ We commence recognition of income from rentals related to the operating leases at the date the property is ready for its intended use by the tenant and the tenant takes possession, or controls the physical use, of the leased asset. Our leases are classified as operating leases and minimum rents are recognized on a straight-line basis over the terms of the leases, which may span multiple years. The excess of rents recognized over amounts contractually due pursuant to the underlying leases is included in deferred rent in the accompanying consolidated balance sheets and contractually due but unpaid rents are included in accounts and other receivables. As of March 31, 2020 and December 31, 2019, the balance of rent receivable, net of allowance, was $399.7 million and $171.9 million, respectively, and is classified within accounts and other receivables, net of allowance for doubtful accounts in the accompanying condensed consolidated balance sheets. Amounts received currently but recognized as revenue in future periods are classified in accounts payable and other accrued liabilities in our condensed consolidated balance sheets. The allowance for doubtful accounts as of March 31, 2020 and December 31, 2019 was approximately $18.9 million and $13.8 million, respectively. Lease termination fees are recognized over the remaining term of the lease, effective as of the date the lease modification is finalized, assuming collection is not considered doubtful. We recognize amortization of the value of acquired above or below-market tenant leases as a reduction of rental revenue in the case of above-market leases or an increase to rental revenue in the case of below-market leases. We make subjective estimates as to the probability of collection of substantially all lease payments over the term of a lease. We specifically analyze customer creditworthiness, accounts receivable and historical bad debts and current economic trends when evaluating the probability of collection. If collection of substantially all lease payments over the term of a lease is deemed not probable, rental revenue would be recognized when payment is received and revenue would not be recognized on a straight-line basis. We monitor the probability of collection over the lease term and in the event the collection of substantially all lease payments is no longer probable, we cease recognizing revenue on a straight-line basis and write-off the balance of all deferred rent related to the lease and commence recording rental revenue on a cash-basis. In addition, we record a full valuation allowance on the balance of any rent receivable, less the balance of any security deposits or letters of credit. In the event that we subsequently determine the collection is probable, we resume recognizing rental revenue on a straight-line basis and record the incremental revenue such that the cumulative rental revenue is equal to the amount of revenue that would have been recorded on a straight-line basis since the inception of the lease. We also would reverse the allowance for bad debt recorded on the balance of accounts receivable. The Company is closely monitoring the impact of the COVID-19 pandemic on all aspects of its business and geographies, including how it will impact its customers and business partners. While the Company did not incur significant disruptions during the three months ended March 31, 2020 from the COVID-19 pandemic, it is unable to predict the impact that the COVID-19 pandemic will have on its financial condition, results of operations and cash flows due to numerous uncertainties.
Revenue Recognition	(p) Revenue Recognition Interconnection services are included in rental and other services on the consolidated income statements and are generally provided on a month-to-month, one-year or multi-year term. Interconnection services include port and cross-connect services. Port services are typically sold on a one-year or multi-year term and revenue is recognized on a recurring monthly basis (straight-line). The Company bills customers on a monthly basis and recognizes the revenue over the period the service is provided. Revenue for cross-connect installations is generally recognized in the period the cross-connect is installed. Interconnection services that are not specific to a particular space are accounted for under Topic 606 and have terms that are generally one year or less. Occasionally, customers engage the Company for certain services. The nature of these services historically involves property management and construction management. The proper revenue recognition of these services can be different, depending on whether the arrangements are service revenue or contractor type revenue. Service revenues are typically recognized on an equal monthly basis based on the minimum fee to be earned. The monthly amounts could be adjusted depending on whether certain performance milestones are met. Fee income arises primarily from contractual management agreements with entities in which we have a noncontrolling interest. The management fees are recognized as earned under the respective agreements. Management and other fee income related to partially owned noncontrolled entities are recognized to the extent attributable to the unaffiliated interest. The majority of our revenue is derived from lease arrangements, which we account for in accordance with Topic 842. Upon the adoption of Topic 842, we elected the practical expedient that requires us to account for lease and non-lease components associated with that lease as a single lease component and which are recorded within rental and other services. Revenue recognized as a result of applying Topic 606 was less than 3% of total operating revenue for the three months ended March 31, 2020 and 2019. ​ ​
Assets and Liabilities Measured at Fair Value	Fair value under U.S. GAAP is a market-based measurement, not an entity-specific measurement. Therefore, our fair value measurements are determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair-value measurements, we use a fair-value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability which are typically based on an entity’s own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair-value measurement is based on inputs from different levels of the fair-value hierarchy, the lowest level input that is significant would be used to determine the fair-value measurement in its entirety. Our assessment of the significance of a particular input to the fair-value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.
Transaction and Integration Expense	(r) Transaction and Integration Expense Transaction and integration expense includes business combination expenses, other business development expenses and other expenses to integrate newly acquired investments, which are expensed as incurred. Transaction expenses include closing costs, broker commissions and other professional fees, including legal and accounting fees related to business combinations or acquisitions that were not consummated. Integration costs include transition costs associated with organizational restructuring (such as severance and retention payments and recruiting expenses), third-party consulting expenses directly related to the integration of acquired companies (in areas such as cost savings and synergy realization, technology and systems work), and internal costs such as training, travel and labor, reflecting time spent by Company personnel on integration activities and projects. Recurring costs are recorded in general and administrative expense.
Gains on Disposition of Properties	(s) Gains on Disposition of Properties As of January 1, 2018, we began accounting for the sale or contribution of real estate properties under Financial Accounting Standards Board, or FASB, Accounting Standards Update, or ASU, No. 2017-05, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20), which provides for revenue recognition based on transfer of ownership. We recognize gains on the disposition of real estate when the recognition criteria have been met, generally at the time the risks and rewards and title have transferred, and we no longer have substantial continuing involvement with the real estate sold. We recognize losses from the disposition of real estate when known. ​ ​ ​ ​
Gain On Deconsolidation	(t) Gain on Deconsolidation We deconsolidate our subsidiaries in accordance with ASC 810, Consolidation, as of the date we cease to have a controlling financial interest in our subsidiaries. We account for the deconsolidation of our subsidiaries by recognizing a gain or loss in accordance with ASC 810. This gain or loss is measured at the date our subsidiaries are deconsolidated as the difference between (a) the aggregate of the fair value of any consideration received, the fair value of any retained non-controlling interest in our subsidiaries being deconsolidated, and the carrying amount of any non-controlling interest in our subsidiaries being deconsolidated, including any accumulated other comprehensive income/loss attributable to the non-controlling interest, and (b) the carrying amount of the assets and liabilities of our subsidiaries being deconsolidated.
Management's Estimates	(u) Management’s Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates made. On an on-going basis, we evaluate our estimates, including those related to the valuation of our real estate properties, customer relationship value, goodwill, contingent consideration, accounts receivable and deferred rent receivable, performance-based equity compensation plans and the completeness of accrued liabilities. We base our estimates on historical experience, current market conditions, and various other assumptions that are believed to be reasonable under the circumstances. Actual results may vary from those estimates and those estimates could vary under different assumptions or conditions.
Segment and Geographic Information	(v) Segment and Geographic Information The Company is managed on a consolidated basis based on customer demand considerations. Deployment of capital is geared to satisfy this demand. In this regard, the sale and delivery of our products is consistent throughout the portfolio. Services are provided to customers typical of the data center industry. Rent and the cost of services are billed and collected. The Company has one operating segment and therefore one reporting segment. Operating revenues from properties in the United States were $627.9 million and $635.4 million and outside the United States were $195.4 million and $179.1 million for the three months ended March 31, 2020 and 2019, respectively. We had investments in real estate located in the United States of $11.0 billion and $10.6 billion, and outside the United States of $7.1 billion and $3.7 billion, as of March 31, 2020 and December 31, 2019, respectively. ​ ​ ​ ​ ​ ​ ​ ​
New Accounting Pronouncements	(w) New Accounting Pronouncements New Accounting Standards Adopted Standard/Description Effective Date and Adoption Considerations Effect on Financial Statements or Other Significant Matters ASU 2016-13, Measurement of Credit Losses on Financial Instruments . This standard requires financial assets measured on an amortized cost basis, including trade receivables, to be presented at the net amount expected to be collected. We adopted the new standard as of January 1, 2020. The adoption of the new standard did not have a material effect on our condensed consolidated financial statements. ​ ASU 2017-04, Intangibles – Goodwill and Other: Simplifying the Test for Goodwill Impairment. We adopted the new standard as of January 1, 2020. The adoption of the new standard did not have a material effect on our condensed consolidated financial statements. ​ ASU 2020-04, Reference Rate Reform - Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This standard contains optional practical expedients and exceptions for applying Generally Accepted Accounting Principles (“GAAP”) to contracts, hedging relations, and other transactions affected by reference rate reform if certain criteria are met. We elected certain optional practical expedients as of January 1, 2020. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. As of January 1, 2020, we have elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. We determined that all other recently issued accounting pronouncements that have yet to be adopted by the Company will not have a material impact on our consolidated financial statements or do not apply to our operations.

Organization and Description _2

Organization and Description of Business (Tables)	3 Months Ended
	Mar. 31, 2020
Organization and Description of Business
Schedule of Real Estate Properties	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Data Centers ​ ​ As of March 31, 2020 (1) ​ As of December 31, 2019 ​ ​ Unconsolidated ​ ​ ​ ​ Unconsolidated ​ Region ​ Operating ​ Joint Ventures ​ Total ​ Operating ​ Held for Sale (2) ​ Joint Ventures ​ Total United States ​ 120 ​ 16 ​ 136 ​ 119 ​ 11 ​ 17 ​ 147 Europe 41 ​ — 41 41 ​ — — 41 Latin America — ​ 19 19 — ​ — 19 19 Asia 5 ​ 5 10 5 ​ — 5 10 Australia 5 ​ — 5 5 ​ — — 5 Canada 2 ​ — 2 2 ​ 1 — 3 Total 173 ​ 40 213 172 ​ 12 41 ​ 225 (1) Excludes 62 data centers that were acquired as part of the Interxion Combination. (2) Includes 10 Powered Base Building® properties, which comprise 12 data centers, that were held for sale to a third party as of December 31, 2019 and subsequently sold in January 2020 (see Note 4).

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2020
Summary of Significant Accounting Policies
Schedule of Goodwill	The following is a summary of goodwill activity for the three months ended March 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of ​ ​ ​ ​ Impact of Change ​ Balance as of ​ ​ December 31, ​ Merger / ​ in Foreign ​ March 31, Merger / Portfolio Acquisition 2019 Acquisition ​ Exchange Rates 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Telx Acquisition ​ $ 330,845 ​ $ — ​ $ — ​ $ 330,845 European Portfolio Acquisition ​ 440,079 ​ — ​ (20,250) ​ 419,829 DFT Merger ​ 2,592,146 ​ — ​ — ​ 2,592,146 Interxion Combination ​ ​ — ​ ​ 4,192,504 ​ ​ (69,278) ​ ​ 4,123,226 Total ​ $ 3,363,070 ​ $ 4,192,504 ​ $ (89,528) ​ $ 7,466,046 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2020
Business Combinations
Summary of Preliminary Fair Value of Assets and Liabilities Acquired	The following table summarizes the provisional amounts for acquired assets and liabilities recorded at their fair values as of the acquisition date (in thousands): ​ ​ ​ ​ ​ ​ Provisional ​ ​ Amounts Land ​ $ 310,310 Building and improvements ​ ​ 3,003,378 Construction in progress ​ ​ 311,702 Land held for development ​ ​ 33,447 Operating lease right-of-use assets ​ ​ 526,399 Cash and cash equivalents ​ 108,548 Accounts receivables ​ ​ 218,868 Goodwill ​ 4,192,504 Customer relationship value ​ 1,340,539 Revolving credit facility ​ ​ (128,282) Mortgage loans ​ (74,316) Unsecured debt ​ (1,434,666) Accounts payable and other accrued liabilities ​ ​ (278,542) Operating lease liabilities ​ (526,399) Deferred tax liability ​ ​ (595,795) Other working capital liabilities, net ​ ​ (32,443) Total purchase price ​ $ 6,975,252
Pro Forma Financial Information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pro forma (unaudited) ​ ​ (in thousands, except per share data) ​ ​ Three Months Ended March 31, Digital Realty Trust, Inc. 2020 2019 Total revenue ​ $ 971,336 ​ $ 986,519 Net income available to common stockholders (1) ​ $ 242,036 ​ $ 22,634 Income per share, diluted (2) ​ $ 0.91 ​ $ 0.09 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pro forma (unaudited) ​ ​ (in thousands, except per unit data) ​ ​ Three Months Ended March 31, Digital Realty Trust, L.P. 2020 2019 Total revenue ​ $ 971,336 ​ $ 986,519 Net income available to common unitholders (1) ​ $ 249,836 ​ $ 26,934 Income per unit, diluted (2) ​ $ 0.91 ​ $ 0.09 ​ (1) Pro forma net income available to common stockholders/unitholders was adjusted to exclude $52.4 million of merger related costs incurred by the Company during the three months ended March 31, 2020 and to include these charges for the corresponding period in 2019. (2) Adjusted to give effect to the issuance of approximately 54.3 million shares of Digital Realty Trust, Inc. common stock in the Interxion Combination.

Real Estate (Tables)

Real Estate (Tables)	3 Months Ended
	Mar. 31, 2020
Real Estate
Schedule of Properties Acquired	​ ​ ​ ​ ​ ​ ​ ​ ​ Amount Property Type (in millions) (1) Westin (2) ​ ​ $ 305.2 Land parcel (3) ​ ​ 6.4 ​ ​ ​ $ 311.6 (1) Purchase price in U.S. dollars and excludes capitalized closing costs. (2) On February 25, 2020, we closed on the acquisition of a 49% ownership interest in the Westin Building Exchange in Seattle for a purchase price of approximately $305 million plus the assumption of debt. The acquisition of the interest held by seller increases our ownership interest to 99% of the property. Prior to the acquisition, our existing 50% ownership interest was accounted for under the equity method of accounting and classified within "Investment in unconsolidated joint ventures". The carrying value of our investment in Westin was zero as of the date of this acquisition and as of December 31, 2019. (3) Represents one currently vacant land parcel located in Europe which is not included in our operating property count.
Purchase Price Allocation For Real Estate Acquired	The table below reflects the purchase price allocation for the above real estate acquired during the three months ended March 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Noncontrolling ​ ​ ​ ​ ​ ​ ​ ​ Customer ​ ​ ​ ​ Below- ​ ​ Interests in Acquisition ​ ​ ​ ​ ​ Buildings and ​ Relationship ​ In-Place ​ Working ​ Market ​ Secured ​ Consolidated ​ Date Fair Description ​ Land ​ Improvements ​ Value ​ Leases ​ Capital, net ​ Leases ​ Debt ​ Joint Ventures ​ Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Westin ​ $ 43,110 ​ $ 329,406 ​ $ 49,441 ​ $ 18,965 ​ $ 7,545 ​ $ (2,540) ​ $ (135,000) ​ $ (5,715) ​ $ 305,212 Land parcel ​ 6,400 ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ 6,400 Total ​ $ 49,510 ​ $ 329,406 ​ $ 49,441 ​ $ 18,965 ​ $ 7,545 ​ $ (2,540) ​ $ (135,000) ​ $ (5,715) ​ $ 311,612 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average remaining intangible amortization life (in years) ​ ​ ​ ​ ​ ​ ​ ​ 15 ​ ​ 15 ​ ​ ​ ​ ​ 15 ​ ​ ​ ​ ​ ​ ​ ​ ​

Investments in Unconsolidated_2

Investments in Unconsolidated Joint Ventures (Tables)	3 Months Ended
	Mar. 31, 2020
Investments in Unconsolidated Joint Ventures
Summary of Financial Information for Joint Ventures	As of March 31, 2020 and December 31, 2019, our investments in unconsolidated joint ventures accounted for under the equity method of accounting presented in our condensed consolidated balance sheets consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Joint ​ # of Metropolitan ​ Balance as of Balance as of Joint Venture ​ Venture Formed ​ Data Centers ​ Area ​ % Ownership ​ March 31, 2020 ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ascenty (1) ​ 2019 ​ 19 Brazil / Chile 51 % (2) $ 524,822 ​ $ 774,853 Mapletree ​ 2019 ​ 3 ​ Northern Virginia ​ 20 % ​ 195,025 ​ ​ 208,354 MCDR ​ 2017 ​ 4 Osaka / Tokyo 50 % 235,426 ​ 200,652 CenturyLink ​ 2012 ​ 1 Hong Kong 50 % 90,257 ​ 88,647 Other ​ Various ​ 13 U.S. ​ 18,479 ​ 14,603 Total ​ ​ ​ 40 ​ $ 1,064,009 ​ $ 1,287,109 (1) Our maximum exposure to loss related to this unconsolidated variable interest entity (VIE) is limited to our equity investment in this VIE. (2) Includes an approximate 2% ownership interest held by a non-controlling interest in our entity that holds the investment in the Ascenty joint venture, which has a carrying value as of March 31, 2020 and December 31, 2019 of approximately $19.5 million and $23.9 million, respectively, and is classified within redeemable noncontrolling interests in our condensed consolidated balance sheet.

Acquired Intangible Assets an_2

Acquired Intangible Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2020
Acquired Intangible Assets and Liabilities
Summary of Acquired Intangible Assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of (Amounts in thousands) March 31, 2020 December 31, 2019 Real Estate Intangibles: ​ ​ ​ ​ ​ ​ Customer relationship value: ​ ​ ​ ​ ​ ​ Gross amount (1) ​ $ 3,194,157 ​ $ 1,845,949 Accumulated amortization ​ (427,337) ​ (400,570) Net ​ $ 2,766,820 ​ $ 1,445,379 Acquired in-place lease value: ​ ​ Gross amount ​ $ 1,368,685 ​ $ 1,357,190 Accumulated amortization ​ (920,682) ​ (899,071) Net ​ $ 448,003 ​ $ 458,119 Acquired above-market leases: ​ ​ Gross amount ​ $ 276,679 ​ $ 279,048 Accumulated amortization ​ (210,646) ​ (204,233) Net ​ $ 66,033 ​ $ 74,815 Acquired below-market leases: ​ ​ Gross amount ​ $ 396,532 ​ $ 396,509 Accumulated amortization ​ (251,324) ​ (247,735) Net ​ $ 145,208 ​ $ 148,774 (1) Balance as of March 31, 2020 includes provisional amounts from Interxion Combination (see Note 3).
Schedule of Estimated Annual Amortization of Below Market Leases	​ ​ ​ ​ ​ (Amounts in thousands) ​ ​ Remainder of 2020 ​ $ (7,269) 2021 ​ (3,406) 2022 ​ 4,806 2023 ​ 9,572 2024 ​ 10,224 Thereafter ​ 65,248 Total ​ $ 79,175
Schedule of Estimated Annual Amortization of Customer Relationship Value	​ ​ ​ ​ ​ (Amounts in thousands) ​ ​ Remainder of 2020 ​ $ 155,015 2021 ​ 206,687 2022 ​ 206,687 2023 ​ 206,687 2024 ​ 206,687 Thereafter ​ 1,785,057 Total ​ $ 2,766,820
Schedule of Estimated Annual Amortization of Acquired of Intangible Assets	​ ​ ​ ​ ​ (Amounts in thousands) ​ ​ Remainder of 2020 ​ $ 72,301 2021 ​ 79,168 2022 ​ 59,522 2023 ​ 48,425 2024 ​ 41,326 Thereafter ​ 147,261 Total ​ $ 448,003

Debt of the Operating Partner_2

Debt of the Operating Partnership (Tables) - Digital Realty Trust, L.P.	3 Months Ended
	Mar. 31, 2020
Debt Instrument [Line Items]
Summary of Outstanding Indebtedness of the Operating Partnership	A summary of outstanding indebtedness of the Operating Partnership as of March 31, 2020 and December 31, 2019 is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest Rate at ​ ​ Principal Principal ​ ​ March 31, ​ ​ ​ Outstanding at ​ Outstanding at ​ Indebtedness ​ 2020 ​ Maturity Date ​ March 31, 2020 ​ December 31, 2019 ​ Global revolving credit facilities Various (1) ​ Jan 24, 2023 (1) $ 613,913 (2) $ 245,766 (2) Deferred financing costs, net ​ ​ ​ (10,812) ​ (11,661) ​ Global revolving credit facilities, net ​ ​ ​ 603,101 ​ 234,105 ​ Unsecured Term Loans ​ ​ ​ ​ ​ 2023 Term Loan Various (3)(4) ​ Jan 15, 2023 ​ 300,000 (5) 300,000 (5) 2024 Term Loan Various (3)(4) ​ Jan 24, 2023 ​ 474,096 (5) 513,205 (5) Deferred financing costs, net ​ ​ ​ ​ (2,671) ​ (2,986) ​ Unsecured term loans, net ​ ​ ​ ​ 771,425 ​ 810,219 ​ Unsecured senior notes: ​ ​ ​ ​ ​ ​ 3.950% notes due 2022 3.950 % ​ Jul 1, 2022 ​ 500,000 ​ 500,000 ​ 3.625% notes due 2022 3.625 % ​ Oct 1, 2022 ​ 300,000 ​ 300,000 ​ 0.125% notes due 2022 ​ 0.125 % ​ Oct 15, 2022 ​ ​ 330,930 (6) ​ — ​ 2.750% notes due 2023 2.750 % ​ Feb 1, 2023 ​ 350,000 ​ 350,000 ​ 4.750% notes due 2023 4.750 % ​ Oct 13, 2023 ​ 372,600 (7) 397,710 (7) 2.625% notes due 2024 2.625 % ​ Apr 15, 2024 ​ 661,860 (6) 672,780 (6) 2.750% notes due 2024 2.750 % ​ Jul 19, 2024 ​ 310,500 (7) 331,425 (7) 4.250% notes due 2025 4.250 % ​ Jan 17, 2025 ​ 496,800 (7) 530,280 (7) 0.625% notes due 2025 ​ 0.625 % ​ Jul 15, 2025 ​ ​ 717,015 (6) ​ — ​ 4.750% notes due 2025 4.750 % ​ Oct 1, 2025 ​ 450,000 ​ 450,000 ​ 2.500% notes due 2026 ​ 2.500 % ​ Jan 16, 2026 ​ ​ 1,185,832 (6) ​ 1,205,398 (6) 3.700% notes due 2027 3.700 % ​ Aug 15, 2027 ​ 1,000,000 ​ 1,000,000 ​ 1.125% notes due 2028 ​ 1.125 % ​ Apr 9, 2028 ​ ​ 551,550 (6) ​ 560,650 (6) 4.450% notes due 2028 4.450 % ​ Jul 15, 2028 ​ 650,000 ​ 650,000 ​ 3.600% notes due 2029 ​ 3.600 % ​ Jul 1, 2029 ​ ​ 434,700 (7) ​ 463,995 (7) 3.300% notes due 2029 3.300 % ​ Jul 19, 2029 ​ 900,000 (7) 900,000 (7) 1.500% notes due 2030 ​ 1.500 % ​ Mar 15, 2030 ​ ​ 827,325 (6) ​ — ​ 3.750% notes due 2030 3.750 % ​ Oct 17, 2030 ​ 683,100 (7) 729,135 (7) Unamortized discounts, net of premiums ​ ​ (26,148) ​ (16,145) ​ Total senior notes, net of discount ​ ​ 10,696,064 ​ 9,025,228 ​ Deferred financing costs, net ​ ​ (59,058) ​ (52,038) ​ Total unsecured senior notes, net of discount and deferred financing costs ​ ​ 10,637,006 ​ 8,973,190 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Secured Debt: ​ ​ ​ ​ 731 East Trade Street 8.22 % ​ Jul 1, 2020 ​ $ 964 (8) $ 1,089 ​ Secured note due March 2023 LIBOR + 1.000 % (4) ​ Mar 1, 2023 ​ 104,000 ​ 104,000 ​ Westin 3.290 % ​ Jul 11, 2027 ​ 135,000 ​ — ​ Unamortized net premiums ​ ​ 31 ​ 54 ​ Total secured debt, including premiums ​ ​ 239,995 ​ 105,143 ​ Deferred financing costs, net ​ ​ (195) ​ (209) ​ Total secured debt, including premiums and net of deferred financing costs ​ ​ 239,800 ​ 104,934 ​ Total indebtedness ​ ​ $ 12,251,332 ​ $ 10,122,448 ​ (1) The interest rate for borrowings under the global revolving credit facility equals the applicable index plus a margin of 90 basis points, which is based on the current credit ratings of our long-term debt. An annual facility fee of 20 basis points, which is based on the credit ratings of our long-term debt, is due and payable quarterly on the total commitment amount of the facility. Two six-month extensions are available, which we may exercise if certain conditions are met. The interest rate for borrowings under the Yen revolving credit facility equals the applicable index plus a margin of 50 basis points, which is based on the current credit ratings of our long-term debt. (2) Balances as of March 31, 2020 and December 31, 2019 are as follows (balances, in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of Weighted- Balance as of Weighted- ​ ​ March 31, ​ average ​ December ​ average Denomination of Draw ​ 2020 ​ interest rate ​ 31, 2019 ​ interest rate Floating Rate Borrowing (a) (d) ​ ​ ​ U.S. dollar ($) ​ $ 200,000 ​ 1.82 % $ — ​ — % Euro (€) ​ 110,310 (b) 0.90 % 44,852 (c) 0.90 % Australian dollar (AUD) ​ 1,104 (b) 1.36 % 1,264 (c) 1.74 % Hong Kong dollar (HKD) ​ 1,548 (b) 2.04 % — ​ — % Singapore dollar (SGD) ​ 56,326 (b) 1.26 % 53,199 (c) 2.46 % Canadian dollar (CAD) ​ 16,706 (b) 2.51 % — ​ — % Total ​ $ 385,994 1.51 % $ 99,315 1.75 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Yen Revolving Credit Facility (a) ​ $ 227,919 (e) 0.50 % $ 146,451 (e) 0.50 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total borrowings ​ $ 613,913 1.13 % $ 245,766 1.00 % (a) The interest rates for floating rate borrowings under the global revolving credit facility currently equal the applicable index, subject to a zero floor, plus a margin of 90 basis points, which is based on the current credit rating of our long-term debt. The interest rate for borrowings under the Yen revolving credit facility equals the applicable index, subject to a zero floor, plus a margin of 50 basis points, which is based on the current credit rating of our long-term debt. (b) Based on exchange rates of $1.10 to €1.00, $0.61 to 1.00 AUD, $0.13 to 1.00 HKD, $0.70 to 1.00 SGD and $0.71 to 1.00 CAD, respectively, as of March 31, 2020. (c) Based on exchange rates of $1.12 to €1.00, $0.70 to 1.00 AUD and $0.74 to 1.00 SGD, respectively, as of December 31, 2019. (d) As of March 31, 2020, approximately $46.5 million of letters of credit were issued. (e) Based on exchange rates of $0.01 to 1.00 JPY as of March 31, 2020 and December 31, 2019. ​ (3) Interest rates are based on our current senior unsecured debt ratings and are currently 100 basis points over the applicable index for floating rate advances for the 2023 Term Loan and the 2024 Term Loan. (4) We have entered into interest rate swap agreements as a cash flow hedge for interest generated by a portion of U.S. dollar and Canadian dollar borrowings under the 2023 Term Loan and 2024 Term Loan, and the secured note due March 2023. See Note 16. "Derivative Instruments" for further information. (5) Balances as of March 31, 2020 and December 31, 2019 are as follows (balances, in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of ​ Weighted- ​ Balance as of ​ Weighted- ​ ​ ​ March 31, ​ average ​ December 31, ​ average ​ Denomination of Draw 2020 interest rate 2019 interest rate U.S. dollar ($) ​ $ 300,000 1.70 % (b) $ 300,000 2.74 % (d) Singapore dollar (SGD) ​ 140,007 (a) 2.56 % ​ 147,931 (c) 2.68 % Australian dollar (AUD) ​ 177,983 (a) 1.59 % ​ 203,820 (c) 1.85 % Hong Kong dollar (HKD) ​ 86,082 (a) 2.27 % ​ 85,629 (c) 3.60 % Canadian dollar (CAD) ​ 70,024 (a) 2.53 % (b) ​ 75,825 (c) 3.00 % (d) Total ​ $ 774,096 1.97 % (b) $ 813,205 2.62 % (d) (a) Based on exchange rates of $0.70 to 1.00 SGD, $0.61 to 1.00 AUD, $0.13 to 1.00 HKD and $0.71 to 1.00 CAD, respectively, as of March 31, 2020. (b) As of March 31, 2020, the weighted-average interest rate reflecting interest rate swaps was 2.44% (U.S. dollar), 1.78% (Canadian dollar) and 2.18% (Total). See Note 16 "Derivative Instruments" for further discussion on interest rate swaps. (c) Based on exchange rates of $0.74 to 1.00 SGD, $0.70 to 1.00 AUD, $0.13 to 1.00 HKD and $0.77 to 1.00 CAD, respectively, as of December 31, 2019. (d) As of December 31, 2019, the weighted-average interest rate reflecting interest rate swaps was 2.44% (U.S. dollar), 1.78% (Canadian dollar) and 2.39% (Total). (6) Based on exchange rates of $1.10 to €1.00 as of March 31, 2020 and $1.12 to €1.00 as of December 31, 2019. (7) Based on exchange rates of $1.24 to £1.00 as of March 31, 2020 and $1.33 to £1.00 as of December 31, 2019. (8) Debt was repaid in full on April 13, 2020. ​
Schedule of Debt Maturities and Principal Maturities	​ ​ The table below summarizes our debt maturities and principal payments as of March 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global Revolving ​ Unsecured ​ ​ ​ ​ ​ ​ ​ ​ ​ Credit Facilities (1) Term Loans (1) Senior Notes Secured Debt Total Debt Remainder of 2020 ​ $ — ​ $ — ​ $ — ​ $ 964 ​ $ 964 2021 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — 2022 ​ ​ — ​ ​ — ​ ​ 1,130,930 ​ ​ — ​ ​ 1,130,930 2023 ​ 385,994 ​ 774,096 ​ 722,600 ​ 104,000 ​ 1,986,690 2024 ​ 227,919 ​ — ​ 972,360 ​ — ​ 1,200,279 Thereafter ​ — ​ — ​ 7,896,322 ​ 135,000 ​ 8,031,322 Subtotal ​ $ 613,913 ​ $ 774,096 ​ $ 10,722,212 ​ $ 239,964 ​ $ 12,350,185 Unamortized discount ​ — ​ — ​ (32,175) ​ — ​ (32,175) Unamortized premium ​ — ​ — ​ 6,027 ​ 31 ​ 6,058 Total ​ $ 613,913 ​ $ 774,096 ​ $ 10,696,064 ​ $ 239,995 ​ $ 12,324,068 (1) The global revolving credit facility and unsecured term loans are subject to two six-month extension options exercisable by us. The bank group is obligated to grant the extension options provided we give proper notice, we make certain representations and warranties and no default exists under the global revolving credit facility or unsecured term loans, as applicable.

Income per Share (Tables)

Income per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Income per Share
Summary of Basic and Diluted Earnings Per Share	The following is a summary of basic and diluted income per share (in thousands, except share and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 Net income available to common stockholders ​ $ 202,859 ​ $ 95,869 Weighted average shares outstanding—basic ​ 222,163,324 ​ 207,809,383 Potentially dilutive common shares: ​ ​ Unvested incentive units ​ 224,558 ​ 323,064 Unvested restricted stock ​ ​ 158,022 ​ ​ — Forward equity offering ​ 1,392,934 ​ 221,448 Market performance-based awards ​ 535,457 ​ 172,354 Weighted average shares outstanding—diluted ​ 224,474,295 ​ 208,526,249 Income per share: ​ ​ Basic ​ $ 0.91 ​ $ 0.46 Diluted ​ $ 0.90 ​ $ 0.46
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	We have excluded the following potentially dilutive securities in the calculations above as they would be antidilutive or not dilutive: ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc. 8,279,335 9,229,911 Potentially dilutive Series C Cumulative Redeemable Perpetual Preferred Stock 1,596,099 1,738,781 Potentially dilutive Series G Cumulative Redeemable Preferred Stock 1,979,075 2,155,992 Potentially dilutive Series H Cumulative Redeemable Preferred Stock — 3,159,382 Potentially dilutive Series I Cumulative Redeemable Preferred Stock 1,981,391 2,158,515 Potentially dilutive Series J Cumulative Redeemable Preferred Stock 1,580,822 1,722,138 Potentially dilutive Series K Cumulative Redeemable Preferred Stock ​ 1,662,320 ​ 358,008 Potentially dilutive Series L Cumulative Redeemable Preferred Stock ​ 2,723,082 ​ — Total 19,802,124 20,522,727

Income per Unit (Tables)

Income per Unit (Tables)	3 Months Ended
	Mar. 31, 2020
Class of Stock [Line Items]
Summary of Basic and Diluted Earnings Per Share	The following is a summary of basic and diluted income per share (in thousands, except share and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 Net income available to common stockholders ​ $ 202,859 ​ $ 95,869 Weighted average shares outstanding—basic ​ 222,163,324 ​ 207,809,383 Potentially dilutive common shares: ​ ​ Unvested incentive units ​ 224,558 ​ 323,064 Unvested restricted stock ​ ​ 158,022 ​ ​ — Forward equity offering ​ 1,392,934 ​ 221,448 Market performance-based awards ​ 535,457 ​ 172,354 Weighted average shares outstanding—diluted ​ 224,474,295 ​ 208,526,249 Income per share: ​ ​ Basic ​ $ 0.91 ​ $ 0.46 Diluted ​ $ 0.90 ​ $ 0.46
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	We have excluded the following potentially dilutive securities in the calculations above as they would be antidilutive or not dilutive: ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc. 8,279,335 9,229,911 Potentially dilutive Series C Cumulative Redeemable Perpetual Preferred Stock 1,596,099 1,738,781 Potentially dilutive Series G Cumulative Redeemable Preferred Stock 1,979,075 2,155,992 Potentially dilutive Series H Cumulative Redeemable Preferred Stock — 3,159,382 Potentially dilutive Series I Cumulative Redeemable Preferred Stock 1,981,391 2,158,515 Potentially dilutive Series J Cumulative Redeemable Preferred Stock 1,580,822 1,722,138 Potentially dilutive Series K Cumulative Redeemable Preferred Stock ​ 1,662,320 ​ 358,008 Potentially dilutive Series L Cumulative Redeemable Preferred Stock ​ 2,723,082 ​ — Total 19,802,124 20,522,727
Digital Realty Trust, L.P.
Class of Stock [Line Items]
Summary of Basic and Diluted Earnings Per Share	The following is a summary of basic and diluted income per unit (in thousands, except unit and per unit amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 Net income available to common unitholders ​ $ 210,659 ​ $ 100,169 Weighted average units outstanding—basic ​ 230,442,659 ​ 217,039,295 Potentially dilutive common units: ​ ​ Unvested incentive units ​ 224,558 ​ 323,064 Unvested restricted units ​ ​ 158,022 ​ ​ — Forward equity offering ​ 1,392,934 ​ 221,448 Market performance-based awards ​ 535,457 ​ 172,354 Weighted average units outstanding—diluted ​ 232,753,630 ​ 217,756,161 Income per unit: ​ ​ Basic ​ $ 0.91 ​ $ 0.46 Diluted ​ $ 0.90 ​ $ 0.46
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	We have excluded the following potentially dilutive securities in the calculations above as they would be antidilutive or not dilutive: ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 Potentially dilutive Series C Cumulative Redeemable Perpetual Preferred Units 1,596,099 1,738,781 Potentially dilutive Series G Cumulative Redeemable Preferred Units 1,979,075 2,155,992 Potentially dilutive Series H Cumulative Redeemable Preferred Units — 3,159,382 Potentially dilutive Series I Cumulative Redeemable Preferred Units 1,981,391 2,158,515 Potentially dilutive Series J Cumulative Redeemable Preferred Units 1,580,822 1,722,138 Potentially dilutive Series K Cumulative Redeemable Preferred Units ​ 1,662,320 ​ 358,008 Potentially dilutive Series L Cumulative Redeemable Preferred Units ​ 2,723,082 ​ — Total 11,522,789 11,292,816

Equity and Accumulated Other _2

Equity and Accumulated Other Comprehensive Loss, Net (Tables)	3 Months Ended
	Mar. 31, 2020
Equity and Accumulated Other Comprehensive Loss, Net
Ownership Interest In The Operating Partnership	The following table shows the ownership interest in the Operating Partnership as of March 31, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ December 31, 2019 ​ ​ Number of ​ Percentage of ​ Number of ​ Percentage of ​ ​ units total units total Digital Realty Trust, Inc. ​ 263,595,562 ​ 96.9 % 208,900,758 ​ 95.9 % Noncontrolling interests consist of: ​ ​ ​ Common units held by third parties 6,307,648 2.3 % 6,820,201 3.2 % Incentive units held by employees and directors (see Note 15) 2,165,738 0.8 % 2,022,954 0.9 % ​ 272,068,948 100.0 % 217,743,913 100.0 %
Summary of Activity for Noncontrolling Interests in the Operating Partnership	The following table shows activity for the noncontrolling interests in the Operating Partnership for the three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Units Incentive Units Total As of December 31, 2019 6,820,201 2,022,954 8,843,155 Redemption of common units for shares of Digital Realty Trust, Inc. common stock (1) (512,553) — (512,553) Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (1) — (80,400) (80,400) Incentive units issued upon achievement of market performance condition — 126,845 126,845 Grant of incentive units to employees and directors — 98,470 98,470 Cancellation / forfeitures of incentive units held by employees and directors — (2,131) (2,131) As of March 31, 2020 6,307,648 2,165,738 8,473,386 (1) These redemptions and conversions were recorded as a reduction to noncontrolling interests in the Operating Partnership and an increase to common stock and additional paid in capital based on the book value per unit in the accompanying consolidated balance sheet of Digital Realty Trust, Inc.
Schedule of Dividends	We have declared and paid the following dividends on our common and preferred stock for the three months ended March 31, 2020 (in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Series C ​ Series G ​ Series I ​ Series J ​ Series K ​ Series L ​ ​ ​ ​ ​ ​ ​ ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ ​ Common ​ Date dividend declared Dividend payment date Stock Stock Stock Stock Stock Stock ​ ​ Stock ​ February 26, 2020 ​ March 31, 2020 ​ $ 3,333 ​ $ 3,672 ​ $ 3,969 ​ $ 2,625 ​ $ 3,071 ​ $ 4,485 ​ ​ $ 295,630 ​ Annual rate of dividend per share ​ ​ $ 1.65625 $ 1.46875 ​ $ 1.58750 ​ $ 1.31250 ​ $ 1.46250 ​ $ 1.30000 ​ ​ $ 4.48000
Schedule of Accumulated Other Comprehensive Income, Net	The accumulated balances for each item within other comprehensive income (loss), net are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency ​ Cash flow ​ Foreign currency net ​ Accumulated other ​ ​ translation ​ hedge ​ investment hedge ​ comprehensive ​ adjustments adjustments adjustments income (loss), net Balance as of December 31, 2019 ​ $ (114,947) ​ $ 1,287 ​ $ 25,738 ​ $ (87,922) Net current period change ​ (344,350) ​ (11,412) ​ — ​ (355,762) Reclassification to interest expense from interest ​ — ​ (538) ​ — ​ (538) Balance as of March 31, 2020 ​ $ (459,297) ​ $ (10,663) ​ $ 25,738 ​ $ (444,222)

Capital and Accumulated Other_2

Capital and Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2020
Class of Stock [Line Items]
Schedule of Distributions	We have declared and paid the following dividends on our common and preferred stock for the three months ended March 31, 2020 (in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Series C ​ Series G ​ Series I ​ Series J ​ Series K ​ Series L ​ ​ ​ ​ ​ ​ ​ ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ ​ Common ​ Date dividend declared Dividend payment date Stock Stock Stock Stock Stock Stock ​ ​ Stock ​ February 26, 2020 ​ March 31, 2020 ​ $ 3,333 ​ $ 3,672 ​ $ 3,969 ​ $ 2,625 ​ $ 3,071 ​ $ 4,485 ​ ​ $ 295,630 ​ Annual rate of dividend per share ​ ​ $ 1.65625 $ 1.46875 ​ $ 1.58750 ​ $ 1.31250 ​ $ 1.46250 ​ $ 1.30000 ​ ​ $ 4.48000
Schedule of Accumulated Other Comprehensive Income, Net	The accumulated balances for each item within other comprehensive income (loss), net are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency ​ Cash flow ​ Foreign currency net ​ Accumulated other ​ ​ translation ​ hedge ​ investment hedge ​ comprehensive ​ adjustments adjustments adjustments income (loss), net Balance as of December 31, 2019 ​ $ (114,947) ​ $ 1,287 ​ $ 25,738 ​ $ (87,922) Net current period change ​ (344,350) ​ (11,412) ​ — ​ (355,762) Reclassification to interest expense from interest ​ — ​ (538) ​ — ​ (538) Balance as of March 31, 2020 ​ $ (459,297) ​ $ (10,663) ​ $ 25,738 ​ $ (444,222)
Digital Realty Trust, L.P.
Class of Stock [Line Items]
Schedule of Distributions	The Operating Partnership has declared and paid the following distributions on its common and preferred units for the three months ended March 31, 2020 (in thousands, except for per unit data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Series C ​ Series G ​ Series I ​ Series J ​ Series K ​ Series L ​ ​ ​ ​ ​ ​ ​ ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ Common ​ Date distribution declared Distribution payment date Units Units Units Units Units ​ Units ​ Units ​ February 26, 2020 ​ March 31, 2020 ​ $ 3,333 ​ $ 3,672 ​ $ 3,969 ​ $ 2,625 ​ $ 3,071 ​ $ 4,485 ​ $ 305,267 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Annual rate of distribution per unit ​ ​ ​ $ 1.65625 ​ $ 1.46875 ​ $ 1.58750 ​ $ 1.31250 ​ $ 1.46250 ​ $ 1.30000 ​ $ 4.48000 ​
Schedule of Accumulated Other Comprehensive Income, Net	The accumulated balances for each item within other comprehensive income are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency ​ ​ ​ Foreign currency net ​ Accumulated other ​ ​ translation ​ Cash flow hedge ​ investment hedge ​ comprehensive ​ adjustments adjustments adjustments loss Balance as of December 31, 2019 ​ $ (117,869) ​ $ 308 ​ $ 26,152 ​ $ (91,409) Net current period change ​ (357,202) ​ (11,838) ​ — ​ (369,040) Reclassification to interest expense from interest ​ — ​ (558) ​ — ​ (558) Balance as of March 31, 2020 ​ $ (475,071) ​ $ (12,088) ​ $ 26,152 ​ $ (461,007)

Incentive Plan (Tables)

Incentive Plan (Tables)	3 Months Ended
	Mar. 31, 2020
Incentive Plan
Schedule of Deferred Compensation	Below is a summary of our compensation expense for the three months ended March 31, 2020 and 2019 and our unearned compensation as of March 31, 2020 and December 31, 2019 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Expected ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ period to ​ ​ Deferred Compensation ​ Unearned Compensation recognize ​ ​ Expensed ​ Capitalized ​ As of ​ As of unearned ​ Three Months Ended March 31, March 31, ​ December 31, compensation Type of incentive award 2020 2019 2020 2019 2020 2019 (in years) Long-term incentive units ​ $ 3.1 ​ $ 1.4 ​ $ 0.1 ​ $ — ​ $ 24.7 ​ $ 15.4 2.5 Performance-based awards (1) ​ 4.7 ​ 3.1 ​ 0.2 ​ 0.2 ​ 41.4 ​ 28.4 3.0 Restricted stock ​ 3.2 ​ 2.6 ​ 0.8 ​ 0.6 ​ 50.0 ​ 29.1 3.1 Interxion awards ​ ​ 3.0 ​ ​ — ​ ​ — ​ ​ — ​ ​ 47.5 ​ ​ — ​ 2.7 (1) In addition to the market performance-based awards and long-term incentive awards described in Notes 15(a) and 15(b), this also includes a one-time grant of 64,709 performance-based Class D units and performance-based restricted stock units, subject to attainment of performance metrics related to successful integration of the Interxion Combination, and a one-time grant of 25,635 time-based profits interest units and time-based restricted stock units subject to the closing of the Interxion Combination to certain of the Company’s executive officers. The grant date fair values, which equal the market price of Digital Realty Trust, Inc. common stock on the applicable grant date(s), are being expensed between two and three years , the current vesting period of these awards.
Summary of Long-Term Incentive Unit Activity	Below is a summary of our long-term incentive unit activity for the three months ended March 31, 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ ​ ​ Grant Date Fair Unvested Long-term Incentive Units ​ Units Value Unvested, beginning of period 208,287 ​ $ 110.00 Granted 76,044 ​ 132.62 Vested (70,406) ​ 109.82 Cancelled or expired (2,131) ​ 108.57 Unvested, end of period 211,794 ​ $ 118.19
Market Performance Based Awards	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Market ​ ​ 2019 ​ 2020 Performance ​ ​ ​ RMS Relative ​ RMS Relative Vesting ​ Level Market Performance ​ Market Performance Percentage ​ Below Threshold Level ≤ -300 basis points ​ ≤ -500 basis points 0 % Threshold Level -300 basis points ​ -500 basis points 25 % Target Level 100 basis points ​ 0 basis points 50 % High Level ≥ 500 basis points ​ ≥ 500 basis points 100 %
Schedule Of Valuation Assumptions	​ ​ ​ ​ ​ ​ ​ Expected Stock Price Risk-Free Interest ​ Award Date Volatility rate ​ January 1, 2019 ​ 23 % 2.44 % February 21, 2019 ​ 23 % 2.48 % February 19, 2020 ​ 22 % 1.39 % February 20, 2020 ​ 22 % 1.35 %
Summary of Restricted Stock Activity	Below is a summary of our restricted stock activity for the three months ended March 31, 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ ​ ​ Grant Date Fair Unvested Restricted Stock Shares Value Unvested, beginning of period 372,792 ​ $ 108.47 Granted (1) 759,342 ​ 124.41 Vested (122,683) ​ 104.20 Cancelled or expired (6,384) ​ 117.55 Unvested, end of period 1,003,067 ​ $ 121.01 ​ (1) Includes 567,810 shares issuable pursuant to the converted and adjusted Interxion equity awards as part of the Interxion Combination.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2020
Derivative Instruments
Schedule of Outstanding Derivative Instruments	​ ​ ​ ​ As of March 31, 2020 and December 31, 2019, we had the following outstanding interest rate derivatives that were designated as effective cash flow hedges of interest rate risk (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at Significant Other Notional Amount ​ ​ ​ ​ ​ ​ ​ ​ ​ Observable Inputs (Level 2) As of ​ As of ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of March 31, ​ December 31, ​ Type of ​ Strike ​ Effective ​ Expiration ​ March 31, ​ December 31, 2020 2019 Derivative Rate Date Date 2020 (3) 2019 (3) Current contracts ​ ​ ​ $ 29,000 (1) $ 29,000 (1) Swap 1.016 ​ Apr 6, 2016 ​ Jan 6, 2021 ​ $ (143) ​ $ 175 ​ 75,000 (1) 75,000 (1) Swap 1.164 ​ Jan 15, 2016 ​ Jan 15, 2021 ​ (483) ​ 345 ​ 300,000 (1) 300,000 (1) Swap 1.435 ​ Jan 15, 2016 ​ Jan 15, 2023 ​ (9,612) ​ 945 ​ 70,024 (2) 75,825 (2) Swap 0.779 ​ Jan 15, 2016 ​ Jan 15, 2021 ​ (24) ​ 931 $ 474,024 ​ $ 479,825 ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (10,262) ​ $ 2,396 (1) Represents debt which bears interest based on one-month U.S. LIBOR. (2) Represents debt which bears interest based on one-month CDOR. Translation to U.S. dollars is based on exchange rates of $0.71 to 1.00 CAD as of March 31, 2020 and $0.77 to 1.00 CAD as of December 31, 2019. (3) Balance recorded in other assets in the consolidated balance sheets if positive and recorded in accounts payable and other accrued liabilities in the consolidated balance sheets if negative.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value of Financial Instruments
Estimated Fair Value And Carrying Amounts	As of March 31, 2020 and December 31, 2019, the aggregate estimated fair value and carrying value of our global revolving credit facilities, unsecured term loans, unsecured senior notes and mortgage loans were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Categorization ​ As of March 31, 2020 ​ As of December 31, 2019 ​ ​ under the fair value ​ Estimated Fair ​ ​ ​ ​ Estimated Fair ​ ​ ​ ​ hierarchy Value Carrying Value Value Carrying Value Global revolving credit facilities (1)(4) Level 2 ​ $ 613,913 ​ $ 613,913 ​ $ 245,766 ​ $ 245,766 Unsecured term loans (2)(4) Level 2 ​ 774,096 ​ 774,096 ​ 813,205 ​ 813,205 Unsecured senior notes (3)(4) Level 2 ​ 10,656,920 ​ 10,722,212 ​ 9,697,166 ​ 9,025,229 Secured debt (3)(4) Level 2 ​ 224,528 ​ 239,964 ​ 105,245 ​ 105,143 ​ ​ ​ ​ $ 12,269,457 ​ $ 12,350,185 ​ $ 10,861,382 ​ $ 10,189,343 (1) The carrying value of our global revolving credit facilities approximates estimated fair value, due to the variability of interest rates and the stability of our credit ratings. (2) The carrying value of our unsecured term loans approximates estimated fair value, due to the variability of interest rates and the stability of our credit ratings. (3) Valuations for our unsecured senior notes and secured debt are determined based on the expected future payments discounted at risk-adjusted rates and quoted market prices. (4) The carrying value excludes unamortized premiums (discounts) and deferred financing costs (see Note 9).

Organization and Description _3

Organization and Description of Business - Data Centers (Details) - property	Mar. 31, 2020	Dec. 31, 2019
Organization and Description of Business [Line Items]
Number of properties	213	225
Operating
Organization and Description of Business [Line Items]
Number of properties	173	172
Held-for-Sale Properties
Organization and Description of Business [Line Items]
Number of properties		12
Unconsolidated Joint Ventures
Organization and Description of Business [Line Items]
Number of properties	40	41
United States
Organization and Description of Business [Line Items]
Number of properties	136	147
United States | Operating
Organization and Description of Business [Line Items]
Number of properties	120	119
United States | Held-for-Sale Properties
Organization and Description of Business [Line Items]
Number of properties		11
United States | Unconsolidated Joint Ventures
Organization and Description of Business [Line Items]
Number of properties	16	17
Europe
Organization and Description of Business [Line Items]
Number of properties	41	41
Europe | Operating
Organization and Description of Business [Line Items]
Number of properties	41	41
Europe | Operating | InterXion
Organization and Description of Business [Line Items]
Number of properties	62
Europe | Held-for-Sale Properties
Organization and Description of Business [Line Items]
Number of properties		0
Europe | Unconsolidated Joint Ventures
Organization and Description of Business [Line Items]
Number of properties	0	0
Latin America
Organization and Description of Business [Line Items]
Number of properties	19	19
Latin America | Operating
Organization and Description of Business [Line Items]
Number of properties	0	0
Latin America | Held-for-Sale Properties
Organization and Description of Business [Line Items]
Number of properties		0
Latin America | Unconsolidated Joint Ventures
Organization and Description of Business [Line Items]
Number of properties	19	19
Asia
Organization and Description of Business [Line Items]
Number of properties	10	10
Asia | Operating
Organization and Description of Business [Line Items]
Number of properties	5	5
Asia | Held-for-Sale Properties
Organization and Description of Business [Line Items]
Number of properties		0
Asia | Unconsolidated Joint Ventures
Organization and Description of Business [Line Items]
Number of properties	5	5
Australia
Organization and Description of Business [Line Items]
Number of properties	5	5
Australia | Operating
Organization and Description of Business [Line Items]
Number of properties	5	5
Australia | Held-for-Sale Properties
Organization and Description of Business [Line Items]
Number of properties		0
Australia | Unconsolidated Joint Ventures
Organization and Description of Business [Line Items]
Number of properties	0	0
Canada
Organization and Description of Business [Line Items]
Number of properties	2	3
Canada | Operating
Organization and Description of Business [Line Items]
Number of properties	2	2
Canada | Held-for-Sale Properties
Organization and Description of Business [Line Items]
Number of properties		1
Canada | Unconsolidated Joint Ventures
Organization and Description of Business [Line Items]
Number of properties	0	0
Powered Base Building | Held-for-Sale Properties
Organization and Description of Business [Line Items]
Number of properties		10
Powered Base Building | Held-For-Sale Properties To Third Party
Organization and Description of Business [Line Items]
Number of properties		12

Organization and Description _4

Organization and Description of Business (Details) - property	Mar. 31, 2020	Dec. 31, 2019
Organization and Description of Business [Line Items]
Number of properties	213	225
Common Interest
Organization and Description of Business [Line Items]
Ownership percentage in joint ventures	96.90%	95.90%
Preferred Interest
Organization and Description of Business [Line Items]
Ownership percentage in joint ventures	100.00%	100.00%
DFT Merger
Organization and Description of Business [Line Items]
Number of properties	8

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - PPE (Details)	3 Months Ended
	Mar. 31, 2020
Summary of Significant Accounting Policies
Period in which short-term investment become cash equivalents	90 days

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Goodwill (Details) - USD ($) $ in Thousands	Mar. 09, 2020	Mar. 31, 2020
Goodwill [Roll Forward]
Goodwill - Beginning Balance		$ 3,363,070
Merger/Acquisition		4,192,504
Impact of Change in Foreign Exchange Rates		(89,528)
Goodwill - Ending Balance		7,466,046
Telx Acquisition
Goodwill [Roll Forward]
Goodwill - Beginning Balance		330,845
Impact of Change in Foreign Exchange Rates		0
Goodwill - Ending Balance		330,845
European Portfolio Acquisition
Goodwill [Roll Forward]
Goodwill - Beginning Balance		440,079
Impact of Change in Foreign Exchange Rates		(20,250)
Goodwill - Ending Balance		419,829
DFT Merger
Goodwill [Roll Forward]
Goodwill - Beginning Balance		2,592,146
Impact of Change in Foreign Exchange Rates		0
Goodwill - Ending Balance		2,592,146
InterXion
Goodwill [Roll Forward]
Merger/Acquisition	$ 4,200,000	4,192,504
Impact of Change in Foreign Exchange Rates		(69,278)
Goodwill - Ending Balance	$ 4,192,504	$ 4,123,226

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Summary of Significant Accounting Policies
Interest capitalized	$ 10.5	$ 10.9
Compensation costs, leasing and construction activities	13.7	12
Capitalized employee expenses related to construction activities	8.6	8.1
Deferred leasing costs	285.8		$ 291.8
Amortization expense on deferred leasing costs	$ 18.5	$ 19.1

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Summary of Significant Accounting Policies
Unrecognized tax benefits	$ 0		$ 0
Income tax penalties and interest expense	$ 0	$ 0

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Lease Accounting (Details) - USD ($) $ in Thousands	Jan. 01, 2019	Mar. 31, 2020	Dec. 31, 2019
Summary Of Significant Accounting Policies [Line Items]
Operating lease liabilities		$ 1,431,292	$ 693,539
Operating Lease, Right-of-Use Asset		1,364,621	628,681
Notes And Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
Rent receivable, net of allowance		$ 399,700	$ 171,900
ASU 2016-02
Summary Of Significant Accounting Policies [Line Items]
Lease, Practical Expedients, Package [true false]	true
Lease, Practical Expedient, Land Easement [true false]	true
Lease, Practical Expedient, Lessor Single Lease Component [true false]	true
Accumulated dividends in excess of earnings	$ 6,300
Amount reclassified from deferred rent liabilities to operating lease liabilities under ASC 842	73,300
Operating lease liabilities	757,200
Operating Lease, Right-of-Use Asset	$ 683,900

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Revenue Recognition and Gains (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Summary Of Significant Accounting Policies [Line Items]
Allowance for doubtful accounts	$ 18.9		$ 13.8
ASU 2014-09
Summary Of Significant Accounting Policies [Line Items]
Revenue recognized as a percent of total revenue	3.00%	3.00%

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Segment and Geographic Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)segment	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of operating segments | segment	1
Number of reportable segments | segment	1
Total operating revenues	$ 823,337	$ 814,515
Net investments in real estate	19,188,902		$ 15,517,684
Outside the United States
Summary Of Significant Accounting Policies [Line Items]
Total operating revenues	195,400	179,100
Net investments in real estate	7,100,000		3,700,000
United States
Summary Of Significant Accounting Policies [Line Items]
Total operating revenues	627,900	$ 635,400
Net investments in real estate	$ 11,000,000		$ 10,600,000

Business Combinations - Ascenty

Business Combinations - Ascenty Acquisition (Details) - USD ($) $ in Thousands	Mar. 09, 2020	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Business Acquisition [Line Items]
Operating lease right-of-use assets, net		$ 1,364,621	$ 628,681
Goodwill		7,466,046	$ 3,363,070
Goodwill related to acquisition		4,192,504
InterXion
Business Acquisition [Line Items]
Land	$ 310,310	310,310		$ 0
Buildings and improvements	3,003,378	3,003,378		0
Construction in progress	311,702	311,702		0
Land held for development	33,447	33,447		0
Operating lease right-of-use assets, net	526,399	526,399		0
Cash and cash equivalents	108,548	108,548		0
Accounts receivables	218,868	218,868		0
Goodwill	4,192,504	4,123,226
Goodwill related to acquisition	4,200,000	4,192,504
Customer relationship value		1,340,539		0
Accounts payable and other accrued liabilities	(278,542)	(278,542)		0
Operating lease liabilities	(526,399)	(526,399)		0
Deferred tax liability	(595,795)	(595,795)		0
Other working capital liabilities, net	(32,443)	(32,443)		0
Equity consideration	6,975,252
InterXion | Global revolving credit facilities, net
Business Acquisition [Line Items]
Long term debt	(128,282)	(128,282)		0
InterXion | Mortgage Loans [Member]
Business Acquisition [Line Items]
Long term debt	(74,316)
InterXion | Unsecured Debt
Business Acquisition [Line Items]
Long term debt	(1,434,666)	$ (1,434,666)		$ 0
InterXion | Tenant relationship value
Business Acquisition [Line Items]
Customer relationship value	$ 1,340,539

Business Combinations (DFT Merg

Business Combinations (DFT Merger Pro Forma Financial Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Business Acquisition [Line Items]
Total revenue	$ 971,336	$ 986,519
Net income available to common shareholders	$ 242,036	$ 22,634
Income per share, diluted (in dollars per share)	$ 0.91	$ 0.09
Digital Realty Trust, L.P.
Business Acquisition [Line Items]
Total revenue	$ 971,336	$ 986,519
Net income available to common shareholders	$ 249,836	$ 26,934
Income per share, diluted (in dollars per share)	$ 0.91	$ 0.09
Merger related costs	$ 52,400
Adjustment to diluted earnings per share (in shares)	54.3
Revenue associated with properties acquired	$ 47,400
Net income associated with properties acquired	2,500
Acquisition expenses	$ 52,400

Real Estate (Acquisitions) (Det

Real Estate (Acquisitions) (Details) - USD ($) $ in Thousands	Feb. 25, 2020	Mar. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Purchase price	$ 305,000	$ 311,600
Percentage of interest acquired in JV	99.00%
Westin
Business Acquisition [Line Items]
Purchase price		305,200
Percentage of interest acquired in JV	49.00%
% Ownership	50.00%
Investment			$ 0
Land parcels
Business Acquisition [Line Items]
Purchase price		$ 6,400

Real Estate (Price Allocation)

Real Estate (Price Allocation) (Details) - USD ($) $ in Thousands	Feb. 25, 2020	Mar. 31, 2020
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Acquisition date fair value	$ 305,000	$ 311,600
Acquired in-place lease value
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Weighted average remaining intangible amortization life (in months)		5 years 10 months 24 days
Fair Value, Nonrecurring [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Working capital , net		$ 7,545
Below market leases		(2,540)
Secured debt		(135,000)
Noncontrolling interest		(5,715)
Acquisition date fair value		$ 311,612
Weighted average remaining intangible amortization life (in months)		15 years
Fair Value, Nonrecurring [Member] | Land.
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Property, plant and equipment - land building		$ 49,510
Fair Value, Nonrecurring [Member] | Buildings and Improvements
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Property, plant and equipment - land building		329,406
Fair Value, Nonrecurring [Member] | Customer Relationship Value
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Customer relationship value, in place		$ 49,441
Weighted average remaining intangible amortization life (in months)		15 years
Fair Value, Nonrecurring [Member] | Acquired in-place lease value
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Customer relationship value, in place		$ 18,965
Weighted average remaining intangible amortization life (in months)		15 years
Westin | Fair Value, Nonrecurring [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Working capital , net		$ 7,545
Below market leases		(2,540)
Secured debt		(135,000)
Noncontrolling interest		(5,715)
Acquisition date fair value		305,212
Westin | Fair Value, Nonrecurring [Member] | Land.
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Property, plant and equipment - land building		43,110
Westin | Fair Value, Nonrecurring [Member] | Buildings and Improvements
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Property, plant and equipment - land building		329,406
Westin | Fair Value, Nonrecurring [Member] | Customer Relationship Value
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Customer relationship value, in place		49,441
Westin | Fair Value, Nonrecurring [Member] | Acquired in-place lease value
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Customer relationship value, in place		18,965
Land parcels | Fair Value, Nonrecurring [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Acquisition date fair value		6,400
Land parcels | Fair Value, Nonrecurring [Member] | Land.
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Property, plant and equipment - land building		$ 6,400

Real Estate (Held for Sale) (De

Real Estate (Held for Sale) (Details) $ in Millions	Sep. 16, 2019USD ($)property	Jan. 31, 2020USD ($)property	Mar. 31, 2020	Dec. 31, 2019USD ($)property
Business Acquisition [Line Items]
Period of transitional property management services provided after closing on sale of real estate			1 year
Data Centers | 10 Powered Base Building | Disposal Group, Held-for-sale, Not Discontinued Operations
Business Acquisition [Line Items]
Number of properties, classified as held for sale | property				12
Purchase consideration receivable	$ 557
Number of properties sold | property	12	12
Gain (loss) on sale		$ 304.8
Data Centers | 10 Powered Base Building | Disposal Group, Held-for-sale, Not Discontinued Operations | Assets Held For Sale
Business Acquisition [Line Items]
Carrying value of real estate held-for-sale				$ 229.9
Data Centers | 10 Powered Base Building | Disposal Group, Held-for-sale, Not Discontinued Operations | Obligations Associated With Assets Held For Sale
Business Acquisition [Line Items]
Carrying value of real estate held-for-sale				$ 2.7
Data Centers | United States
Business Acquisition [Line Items]
Number of properties, classified as held for sale | property	12

Investments in Unconsolidated_3

Investments in Unconsolidated Joint Ventures (Equity method of Accounting Presented in our consolidated balance sheets) (Details) $ in Thousands	Mar. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property
Schedule of Equity Method Investments [Line Items]
Number of Data Centers | property	213	225
Noncontrolling interests in consolidated joint ventures	$ 60,038	$ 20,625
Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Number of Data Centers | property	40	41
Investments in unconsolidated joint ventures	$ 1,064,009	$ 1,287,109
Ascenty Acquisition | Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Number of Data Centers | property	19
% Ownership	51.00%
Investments in unconsolidated joint ventures	$ 524,822	774,853
Noncontrolling interests in consolidated joint ventures	$ 19,500	23,900
Ascenty Acquisition | Subsidiary of Operating Partnership subsidiary | Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Ownership interest by noncontrolling interest	2.00%
Mapletree JV | Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Number of Data Centers | property	3
% Ownership	20.00%
Investments in unconsolidated joint ventures	$ 195,025	208,354
MCDR | Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Number of Data Centers | property	4
% Ownership	50.00%
Investments in unconsolidated joint ventures	$ 235,426	200,652
CenturyLink | Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Number of Data Centers | property	1
% Ownership	50.00%
Investments in unconsolidated joint ventures	$ 90,257	88,647
Other | Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Number of Data Centers | property	13
Investments in unconsolidated joint ventures	$ 18,479	$ 14,603

Acquired Intangible Assets an_3

Acquired Intangible Assets and Liabilities (Summary of Acquired Intangible Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Acquired in-place lease value
Finite-Lived Intangible Assets [Line Items]
Gross amount	$ 1,368,685	$ 1,357,190
Accumulated amortization	(920,682)	(899,071)
Total	448,003	458,119
Customer Relationship Value
Finite-Lived Intangible Assets [Line Items]
Gross amount	3,194,157	1,845,949
Accumulated amortization	(427,337)	(400,570)
Total	2,766,820	1,445,379
Acquired above-market leases
Finite-Lived Intangible Assets [Line Items]
Gross amount	276,679	279,048
Accumulated amortization	(210,646)	(204,233)
Total	66,033	74,815
Below-Market Leases
Finite-Lived Intangible Assets [Line Items]
Gross amount	396,532	396,509
Accumulated amortization	(251,324)	(247,735)
Total	$ 145,208	$ 148,774

Acquired Intangible Assets an_4

Acquired Intangible Assets and Liabilities (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization of customer relationship value, acquired in-place lease value and	$ 76,568	$ 103,934
Customer Relationship Value
Finite-Lived Intangible Assets [Line Items]
Amortization of customer relationship value, acquired in-place lease value and	$ 29,100	38,000
Weighted average remaining contractual life for acquired leases excluding renewals or extensions (in years)	16 years 4 months 24 days
Acquired in-place lease value
Finite-Lived Intangible Assets [Line Items]
Expected average remaining lives (in years)	5 years 10 months 24 days
Amortization of customer relationship value, acquired in-place lease value and	$ 27,200	44,900
Weighted average remaining contractual life for acquired leases excluding renewals or extensions (in years)	5 years 8 months 12 days
Below-Market Leases, Net of Above-Market Leases
Finite-Lived Intangible Assets [Line Items]
Amortization of acquired leases	$ 3,300	$ 6,200
Expected average remaining lives of acquired below market leases (in years)	7 years 8 months 12 days
Expected average remaining lives (in years)	2 years 4 months 24 days

Acquired Intangible Assets an_5

Acquired Intangible Assets and Liabilities (Schedule of Estimated Annual Amortization of Below Market Leases) (Details) - Below-Market Leases, Net of Above-Market Leases $ in Thousands	Mar. 31, 2020USD ($)
Finite-Lived Intangible Assets [Line Items]
Remainder of 2020	$ (7,269)
2021	(3,406)
2022	4,806
2023	9,572
2024	10,224
Thereafter	65,248
Total	$ 79,175

Acquired Intangible Assets An_6

Acquired Intangible Assets And Liabilities (Schedule of Estimated Annual Amortization of Intangible Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Acquired in-place lease value
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2020	$ 72,301
2021	79,168
2022	59,522
2023	48,425
2024	41,326
Thereafter	147,261
Total	448,003	$ 458,119
Tenant relationships
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2020	155,015
2021	206,687
2022	206,687
2023	206,687
2024	206,687
Thereafter	1,785,057
Total	$ 2,766,820

Debt of the Company (Narrative)

Debt of the Company (Narrative) (Details) - Senior Notes	Mar. 31, 2020
3.950% notes due 2022 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	3.95%
3.625% notes due 2022 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	3.625%
2.750% notes due 2023
Debt Instrument [Line Items]
Stated interest rate	2.75%
2.750% notes due 2023 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	2.75%
4.750% notes due 2025 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	4.75%
3.700% notes due 2027 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	3.70%
4.450% notes due 2028 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	4.45%
3.600% notes due 2029 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	3.60%
4.750% notes due 2023
Debt Instrument [Line Items]
Stated interest rate	4.75%
4.750% notes due 2023 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	4.75%
2.750% notes due 2024
Debt Instrument [Line Items]
Stated interest rate	2.75%
2.750% notes due 2024 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	2.75%
4.250% notes due 2025
Debt Instrument [Line Items]
Stated interest rate	4.25%
4.250% notes due 2025 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	4.25%
3.300% notes due 2029
Debt Instrument [Line Items]
Stated interest rate	3.30%
3.300% notes due 2029 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	3.30%
3.750% notes due 2030
Debt Instrument [Line Items]
Stated interest rate	3.75%
3.750% notes due 2030 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	3.75%
2.625% notes due 2024
Debt Instrument [Line Items]
Stated interest rate	2.625%
2.625% notes due 2024 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	2.625%
2.500% notes due 2026
Debt Instrument [Line Items]
Stated interest rate	2.50%
2.500% notes due 2026 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	2.50%
1.125% notes due 2028 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	1.125%
0.125% notes due 2022
Debt Instrument [Line Items]
Stated interest rate	0.125%
0.125% notes due 2022 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	0.125%
0.625% notes due 2025
Debt Instrument [Line Items]
Stated interest rate	0.625%
0.625% notes due 2025 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	0.625%
1.500% notes due 2030
Debt Instrument [Line Items]
Stated interest rate	1.50%
1.500% notes due 2030 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	1.50%

Debt of the Operating Partner_3

Debt of the Operating Partnership (Summary of Outstanding Indebtedness) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)item	Dec. 31, 2019USD ($)
Senior Notes | 0.125% notes due 2022
Debt Instrument [Line Items]
Stated interest rate	0.125%
Senior Notes | 2.750% notes due 2023
Debt Instrument [Line Items]
Stated interest rate	2.75%
Senior Notes | 4.750% notes due 2023
Debt Instrument [Line Items]
Stated interest rate	4.75%
Senior Notes | 2.625% notes due 2024
Debt Instrument [Line Items]
Stated interest rate	2.625%
Senior Notes | 2.750% notes due 2024
Debt Instrument [Line Items]
Stated interest rate	2.75%
Senior Notes | 4.250% notes due 2025
Debt Instrument [Line Items]
Stated interest rate	4.25%
Senior Notes | 0.625% notes due 2025
Debt Instrument [Line Items]
Stated interest rate	0.625%
Senior Notes | 2.500% notes due 2026
Debt Instrument [Line Items]
Stated interest rate	2.50%
Senior Notes | 3.300% notes due 2029
Debt Instrument [Line Items]
Stated interest rate	3.30%
Senior Notes | 1.500% notes due 2030
Debt Instrument [Line Items]
Stated interest rate	1.50%
Senior Notes | 3.750% notes due 2030
Debt Instrument [Line Items]
Stated interest rate	3.75%
Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Long-term debt, gross	$ 12,350,185
Debt Instrument, Unamortized Discount	32,175
Total indebtedness	12,251,332	$ 10,122,448
Unamortized net premiums	6,058
Long-term debt, net of discount (premium)	12,324,068
Digital Realty Trust, L.P. | Global revolving credit facilities, net
Debt Instrument [Line Items]
Long-term debt, gross	613,913	245,766
Debt Instrument, Unamortized Discount	0
Deferred financing costs	(10,812)	(11,661)
Total indebtedness	603,101	234,105
Unamortized net premiums	0
Long-term debt, net of discount (premium)	$ 613,913
Interest rate basis spread	0.90%
Commitment fee percentage	0.20%
Number of extension options | item	2
Debt instrument, extension term	6 months
Digital Realty Trust, L.P. | Yen Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 227,919	146,451
Commitment fee percentage	0.50%
Digital Realty Trust, L.P. | Unsecured term loans, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 774,096
Debt Instrument, Unamortized Discount	0
Deferred financing costs	(2,671)	(2,986)
Total indebtedness	771,425	810,219
Unamortized net premiums	0
Long-term debt, net of discount (premium)	774,096
Digital Realty Trust, L.P. | Unsecured term loans, net | 2023 and 2024 Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	774,096	813,205
Digital Realty Trust, L.P. | Unsecured term loans, net | 2023 Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	300,000	300,000
Digital Realty Trust, L.P. | Unsecured term loans, net | 2024 Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	474,096	513,205
Digital Realty Trust, L.P. | Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	10,722,212
Debt Instrument, Unamortized Discount	32,175
Deferred financing costs	(59,058)	(52,038)
Total indebtedness	10,637,006	8,973,190
Unamortized discounts, net of premiums	(26,148)	(16,145)
Unamortized net premiums	6,027
Long-term debt, net of discount (premium)	10,696,064	9,025,228
Digital Realty Trust, L.P. | Senior Notes | 3.950% notes due 2022
Debt Instrument [Line Items]
Long-term debt, gross	$ 500,000	500,000
Stated interest rate	3.95%
Digital Realty Trust, L.P. | Senior Notes | 3.625% notes due 2022
Debt Instrument [Line Items]
Long-term debt, gross	$ 300,000	300,000
Stated interest rate	3.625%
Digital Realty Trust, L.P. | Senior Notes | 0.125% notes due 2022
Debt Instrument [Line Items]
Long-term debt, gross	$ 330,930	0
Stated interest rate	0.125%
Digital Realty Trust, L.P. | Senior Notes | 2.750% notes due 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 350,000	350,000
Stated interest rate	2.75%
Digital Realty Trust, L.P. | Senior Notes | 4.750% notes due 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 372,600	397,710
Stated interest rate	4.75%
Digital Realty Trust, L.P. | Senior Notes | 2.625% notes due 2024
Debt Instrument [Line Items]
Long-term debt, gross	$ 661,860	672,780
Stated interest rate	2.625%
Digital Realty Trust, L.P. | Senior Notes | 2.750% notes due 2024
Debt Instrument [Line Items]
Long-term debt, gross	$ 310,500	331,425
Stated interest rate	2.75%
Digital Realty Trust, L.P. | Senior Notes | 4.250% notes due 2025
Debt Instrument [Line Items]
Long-term debt, gross	$ 496,800	530,280
Stated interest rate	4.25%
Digital Realty Trust, L.P. | Senior Notes | 0.625% notes due 2025
Debt Instrument [Line Items]
Long-term debt, gross	$ 717,015	0
Stated interest rate	0.625%
Digital Realty Trust, L.P. | Senior Notes | 4.750% notes due 2025
Debt Instrument [Line Items]
Long-term debt, gross	$ 450,000	450,000
Stated interest rate	4.75%
Digital Realty Trust, L.P. | Senior Notes | 2.500% notes due 2026
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,185,832	1,205,398
Stated interest rate	2.50%
Digital Realty Trust, L.P. | Senior Notes | 3.700% notes due 2027
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,000,000	1,000,000
Stated interest rate	3.70%
Digital Realty Trust, L.P. | Senior Notes | 1.125% notes due 2028
Debt Instrument [Line Items]
Long-term debt, gross	$ 551,550	560,650
Stated interest rate	1.125%
Digital Realty Trust, L.P. | Senior Notes | 4.450% notes due 2028
Debt Instrument [Line Items]
Long-term debt, gross	$ 650,000	650,000
Stated interest rate	4.45%
Digital Realty Trust, L.P. | Senior Notes | 3.600% notes due 2029
Debt Instrument [Line Items]
Long-term debt, gross	$ 434,700	463,995
Stated interest rate	3.60%
Digital Realty Trust, L.P. | Senior Notes | 3.300% notes due 2029
Debt Instrument [Line Items]
Long-term debt, gross	$ 900,000	900,000
Stated interest rate	3.30%
Digital Realty Trust, L.P. | Senior Notes | 1.500% notes due 2030
Debt Instrument [Line Items]
Long-term debt, gross	$ 827,325	0
Stated interest rate	1.50%
Digital Realty Trust, L.P. | Senior Notes | 3.750% notes due 2030
Debt Instrument [Line Items]
Long-term debt, gross	$ 683,100	729,135
Stated interest rate	3.75%
Digital Realty Trust, L.P. | Senior Notes | Secured note due March 2023 | LIBOR
Debt Instrument [Line Items]
Interest rate basis spread	1.00%
Digital Realty Trust, L.P. | Secured Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 239,964
Debt Instrument, Unamortized Discount	0
Deferred financing costs	(195)	(209)
Total indebtedness	239,800	104,934
Unamortized net premiums	31	54
Long-term debt, net of discount (premium)	239,995	105,143
Digital Realty Trust, L.P. | Secured Debt | 731 East Trade Street
Debt Instrument [Line Items]
Long-term debt, gross	$ 964	1,089
Effective interest rate (as a percent)	8.22%
Digital Realty Trust, L.P. | Secured Debt | Secured note due March 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 104,000	104,000
Digital Realty Trust, L.P. | Secured Debt | Westin
Debt Instrument [Line Items]
Long-term debt, gross	$ 135,000	$ 0
Stated interest rate	3.29%

Debt of the Operating Partner_4

Debt of the Operating Partnership (Floating and Base Rate Borrowing) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)$ / $$ / €$ / $$ / $$ / $$ / £$ / ¥	Dec. 31, 2019USD ($)$ / $$ / $$ / $$ / ¥$ / £$ / €$ / $
3.750% notes due 2030 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	3.75%
Canadian dollar (CAD) | Unsecured term loans, net
Debt Instrument [Line Items]
Exchange rate | $ / $	0.71	0.77
Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Long-term debt, gross	$ 12,350,185
Digital Realty Trust, L.P. | Global revolving credit facilities, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 613,913	$ 245,766
Interest rate basis spread	0.90%
Commitment fee percentage	0.20%
Letters of credit issued	$ 46,500
Digital Realty Trust, L.P. | Yen Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 227,919	$ 146,451
Weighted-average interest rate	0.50%	0.50%
Commitment fee percentage	0.50%
Digital Realty Trust, L.P. | Unsecured term loans, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 774,096
Digital Realty Trust, L.P. | Unsecured term loans, net | Interest Rate Swap
Debt Instrument [Line Items]
Weighted-average interest rate	2.18%	2.39%
Digital Realty Trust, L.P. | Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 10,722,212
Digital Realty Trust, L.P. | Secured Debt
Debt Instrument [Line Items]
Long-term debt, gross	239,964
Digital Realty Trust, L.P. | 2023 and 2024 Term Loan | Unsecured term loans, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 774,096	$ 813,205
Weighted-average interest rate	1.97%	2.62%
Digital Realty Trust, L.P. | 3.750% notes due 2030 | Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 683,100	$ 729,135
Stated interest rate	3.75%
Digital Realty Trust, L.P. | Floating Rate | Global revolving credit facilities, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 385,994	$ 99,315
Weighted-average interest rate	1.51%	1.75%
Interest rate basis spread	0.90%
Digital Realty Trust, L.P. | Floating Rate | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 613,913	$ 245,766
Weighted-average interest rate	1.13%	1.00%
Digital Realty Trust, L.P. | U.S. dollar ($) | Unsecured term loans, net | Interest Rate Swap
Debt Instrument [Line Items]
Weighted-average interest rate	2.44%	2.44%
Digital Realty Trust, L.P. | U.S. dollar ($) | 2023 and 2024 Term Loan | Unsecured term loans, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 300,000	$ 300,000
Weighted-average interest rate	1.70%	2.74%
Digital Realty Trust, L.P. | U.S. dollar ($) | Floating Rate | Global revolving credit facilities, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 200,000
Weighted-average interest rate	1.82%
Digital Realty Trust, L.P. | British pound sterling () | Unsecured term loans, net
Debt Instrument [Line Items]
Exchange rate | $ / £	1.24	1.33
Digital Realty Trust, L.P. | Euro () | Global revolving credit facilities, net
Debt Instrument [Line Items]
Exchange rate | $ / €	1.10	1.12
Digital Realty Trust, L.P. | Euro () | Floating Rate | Global revolving credit facilities, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 110,310	$ 44,852
Weighted-average interest rate	0.90%	0.90%
Digital Realty Trust, L.P. | Australian dollar (AUD) | Global revolving credit facilities, net
Debt Instrument [Line Items]
Exchange rate | $ / $	0.61	0.70
Digital Realty Trust, L.P. | Australian dollar (AUD) | Unsecured term loans, net
Debt Instrument [Line Items]
Exchange rate | $ / $	0.61	0.70
Digital Realty Trust, L.P. | Australian dollar (AUD) | 2023 and 2024 Term Loan | Unsecured term loans, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 177,983	$ 203,820
Weighted-average interest rate	1.59%	1.85%
Digital Realty Trust, L.P. | Australian dollar (AUD) | Floating Rate | Global revolving credit facilities, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,104	$ 1,264
Weighted-average interest rate	1.36%	1.74%
Digital Realty Trust, L.P. | Hong Kong dollar (HKD) | Global revolving credit facilities, net
Debt Instrument [Line Items]
Exchange rate | $ / $	0.13
Digital Realty Trust, L.P. | Hong Kong dollar (HKD) | Unsecured term loans, net
Debt Instrument [Line Items]
Exchange rate | $ / $	0.13	0.13
Digital Realty Trust, L.P. | Hong Kong dollar (HKD) | 2023 and 2024 Term Loan | Unsecured term loans, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 86,082	$ 85,629
Weighted-average interest rate	2.27%	3.60%
Digital Realty Trust, L.P. | Hong Kong dollar (HKD) | Floating Rate | Global revolving credit facilities, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,548
Weighted-average interest rate	2.04%
Digital Realty Trust, L.P. | Japanese yen (JPY) | Global revolving credit facilities, net
Debt Instrument [Line Items]
Exchange rate | $ / ¥	0.01	0.01
Digital Realty Trust, L.P. | Singapore dollar (SGD) | Global revolving credit facilities, net
Debt Instrument [Line Items]
Exchange rate | $ / $	0.70	0.74
Digital Realty Trust, L.P. | Singapore dollar (SGD) | Unsecured term loans, net
Debt Instrument [Line Items]
Exchange rate | $ / $	0.70	0.74
Digital Realty Trust, L.P. | Singapore dollar (SGD) | 2023 and 2024 Term Loan | Unsecured term loans, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 140,007	$ 147,931
Weighted-average interest rate	2.56%	2.68%
Digital Realty Trust, L.P. | Singapore dollar (SGD) | Floating Rate | Global revolving credit facilities, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 56,326	$ 53,199
Weighted-average interest rate	1.26%	2.46%
Digital Realty Trust, L.P. | Canadian dollar (CAD) | Global revolving credit facilities, net
Debt Instrument [Line Items]
Exchange rate | $ / $	0.71
Digital Realty Trust, L.P. | Canadian dollar (CAD) | Unsecured term loans, net
Debt Instrument [Line Items]
Exchange rate | $ / $	0.71	0.77
Digital Realty Trust, L.P. | Canadian dollar (CAD) | Unsecured term loans, net | Interest Rate Swap
Debt Instrument [Line Items]
Weighted-average interest rate	1.78%	1.78%
Digital Realty Trust, L.P. | Canadian dollar (CAD) | 2023 and 2024 Term Loan | Unsecured term loans, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 70,024	$ 75,825
Weighted-average interest rate	2.53%	3.00%
Digital Realty Trust, L.P. | Canadian dollar (CAD) | Floating Rate | Global revolving credit facilities, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 16,706
Weighted-average interest rate	2.51%

Debt of the Operating Partner_5

Debt of the Operating Partnership (Global Revolving Credit Facilities) (Narrative) (Details) - Digital Realty Trust, L.P. $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)item
Global revolving credit facilities, net
Debt Instrument [Line Items]
Number of extension options | item	2
Debt instrument, extension term	6 months
Interest rate basis spread	0.90%
Commitment fee percentage	0.20%
Letters of credit issued | $	$ 46.5
Yen Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage	0.50%

Debt of the Operating Partner_6

Debt of the Operating Partnership (Unsecured Term Loans) (Narrative) (Details) - Digital Realty Trust, L.P. - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt, gross	$ 12,350,185
Unsecured term loans, net
Debt Instrument [Line Items]
Long-term debt, gross	774,096
2023 and 2024 Term Loan | Unsecured term loans, net
Debt Instrument [Line Items]
Long-term debt, gross	$ 774,096	$ 813,205

Debt of the Operating Partner_7

Debt of the Operating Partnership (Unsecured Senior Notes) (Details) - Senior Notes	Mar. 31, 2020
3.950% notes due 2022 | Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.95%
3.625% notes due 2022 | Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.625%
2.750% notes due 2023
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.75%
2.750% notes due 2023 | Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.75%
4.750% notes due 2023
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.75%
4.750% notes due 2023 | Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.75%
2.625% notes due 2024
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.625%
2.625% notes due 2024 | Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.625%
2.750% notes due 2024
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.75%
2.750% notes due 2024 | Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.75%
4.250% notes due 2025
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.25%
4.250% notes due 2025 | Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.25%
2.500% notes due 2026
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.50%
2.500% notes due 2026 | Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.50%
3.700% notes due 2027 | Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.70%
1.125% notes due 2028 | Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	1.125%
4.450% notes due 2028 | Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.45%
3.300% notes due 2029
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.30%
3.300% notes due 2029 | Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.30%
3.600% notes due 2029 | Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.60%
3.750% notes due 2030
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.75%
3.750% notes due 2030 | Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.75%
4.750% notes due 2025 | Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.75%

Debt of the Operating Partner_8

Debt of the Operating Partnership (Narrative) (Details)	3 Months Ended
	Mar. 31, 2020
Debt Instrument [Line Items]
Leverage ratio	60.00%
Secured debt leverage ratio, maximum	40.00%
Interest coverage ratio	1.50
Total unencumbered assets	150.00%
Senior Notes | 2.500% notes due 2026
Debt Instrument [Line Items]
Stated interest rate	2.50%
Senior Notes | 2.500% notes due 2026 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	2.50%
Senior Notes | 3.600% notes due 2029 | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Stated interest rate	3.60%

Debt of the Operating Partner_9

Debt of the Operating Partnership (Schedule of Debt Maturities And Principal Maturities) (Details) $ in Thousands, € in Millions	Jan. 17, 2020USD ($)	Jan. 17, 2020EUR (€)	Mar. 31, 2020USD ($)item	Dec. 31, 2019USD ($)
Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Remainder of 2020			$ 964
2021			0
2022			1,130,930
2023			1,986,690
2024			1,200,279
Thereafter			8,031,322
Subtotal			12,350,185
Unamortized discounts, net of premiums			(32,175)
Unamortized premium			6,058
Long-term debt, net of discount (premium)			12,324,068
Digital Realty Trust, L.P. | Global revolving credit facilities, net
Debt Instrument [Line Items]
Remainder of 2020			0
2021			0
2022			0
2023			385,994
2024			227,919
Thereafter			0
Subtotal			613,913	$ 245,766
Unamortized discounts, net of premiums			0
Unamortized premium			0
Long-term debt, net of discount (premium)			$ 613,913
Number of extension options | item			2
Debt instrument, extension term			6 months
Digital Realty Trust, L.P. | Unsecured term loans, net
Debt Instrument [Line Items]
Remainder of 2020			$ 0
2021			0
2022			0
2023			774,096
2024			0
Thereafter			0
Subtotal			774,096
Unamortized discounts, net of premiums			0
Unamortized premium			0
Long-term debt, net of discount (premium)			774,096
Digital Realty Trust, L.P. | Senior Notes
Debt Instrument [Line Items]
Remainder of 2020			0
2021			0
2022			1,130,930
2023			722,600
2024			972,360
Thereafter			7,896,322
Subtotal			10,722,212
Unamortized discounts, net of premiums			(32,175)
Unamortized premium			6,027
Long-term debt, net of discount (premium)			10,696,064	9,025,228
Digital Realty Trust, L.P. | Secured Debt
Debt Instrument [Line Items]
Remainder of 2020			964
2021			0
2022			0
2023			104,000
2024			0
Thereafter			135,000
Subtotal			239,964
Unamortized discounts, net of premiums			0
Unamortized premium			31	54
Long-term debt, net of discount (premium)			$ 239,995	$ 105,143
Digital Dutch Finco B.V. | Senior Notes
Debt Instrument [Line Items]
Net proceeds on public offering	$ 1,861,900	€ 1,678.6
Digital Dutch Finco B.V. | Senior Notes | 2022 Notes
Debt Instrument [Line Items]
Debt face amount	$ 300,000
Stated interest rate	0.125%
Digital Dutch Finco B.V. | Senior Notes | 2025 Notes
Debt Instrument [Line Items]
Debt face amount	$ 650,000
Stated interest rate	0.625%
Digital Dutch Finco B.V. | Senior Notes | 2030 Notes
Debt Instrument [Line Items]
Debt face amount	$ 750,000
Stated interest rate	1.50%

Income per Share (Summary of Ba

Income per Share (Summary of Basic and Diluted Earnings per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income per Share
Net income available to common stockholders	$ 202,859	$ 95,869
Weighted average shares outstanding-basic (shares)	222,163,324	207,809,383
Potentially dilutive common shares:
Unvested incentive units (shares)	224,558	323,064
Unvested restricted stock	158,022
Forward equity offering (shares)	1,392,934	221,448
Market performance-based awards (shares)	535,457	172,354
Weighted average shares/units outstanding-diluted (shares/units)	224,474,295	208,526,249
Income per share:
Basic (in dollars per share)	$ 0.91	$ 0.46
Diluted (in dollars per share)	$ 0.90	$ 0.46

Income per Share (Schedule of A

Income per Share (Schedule of Antidilutive Securities Excluded from Computation of Earnings per Share) (Details) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	19,802,124	20,522,727
Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc.
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	8,279,335	9,229,911
Series C Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	1,596,099	1,738,781
Series G Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	1,979,075	2,155,992
Potentially dilutive Series H Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)		3,159,382
Series I Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	1,981,391	2,158,515
Series J Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	1,580,822	1,722,138
Series K Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	1,662,320	358,008
Series L Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	2,723,082

Income per Unit (Summary of Bas

Income per Unit (Summary of Basic and Diluted Earnings per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Class of Stock [Line Items]
Net income available to common unitholders	$ 202,859	$ 95,869
Weighted average units outstanding-basic (units)	222,163,324	207,809,383
Potentially dilutive common units:
Unvested incentive units (units)	224,558	323,064
Unvested restricted stock	158,022
Forward equity offering (units)	1,392,934	221,448
Market performance-based awards (units)	535,457	172,354
Weighted average shares/units outstanding-diluted (shares/units)	224,474,295	208,526,249
Income per share:
Basic (in dollars per unit)	$ 0.91	$ 0.46
Diluted (in dollars per unit)	$ 0.90	$ 0.46
Digital Realty Trust, L.P.
Class of Stock [Line Items]
Net income available to common unitholders	$ 210,659	$ 100,169
Weighted average units outstanding-basic (units)	230,442,659	217,039,295
Potentially dilutive common units:
Unvested incentive units (units)	224,558	323,064
Unvested restricted stock	158,022
Forward equity offering (units)	1,392,934	221,448
Market performance-based awards (units)	535,457	172,354
Weighted average shares/units outstanding-diluted (shares/units)	232,753,630	217,756,161
Income per share:
Basic (in dollars per unit)	$ 0.91	$ 0.46
Diluted (in dollars per unit)	$ 0.90	$ 0.46

Income per Unit (Schedule of An

Income per Unit (Schedule of Antidilutive Securities Excluded from Computation of Earnings per Share) (Details) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	19,802,124	20,522,727
Series L Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	2,723,082
Digital Realty Trust, L.P.
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	11,522,789	11,292,816
Digital Realty Trust, L.P. | Series C Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	1,596,099	1,738,781
Digital Realty Trust, L.P. | Series G Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	1,979,075	2,155,992
Digital Realty Trust, L.P. | Series H Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)		3,159,382
Digital Realty Trust, L.P. | Series I Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	1,981,391	2,158,515
Digital Realty Trust, L.P. | Potentially dilutive Series J Cumulative Redeemable Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	1,580,822	1,722,138
Digital Realty Trust, L.P. | Potentially dilutive Series K Cumulative Redeemable Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	1,662,320	358,008
Digital Realty Trust, L.P. | Series L Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	2,723,082

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Income Taxes
Percentage of income distributed (at least)	100.00%
Net deferred tax liability	$ 681.1	$ 143.4

Equity and Accumulated Other _3

Equity and Accumulated Other Comprehensive Loss, Net (Equity Distribution Agreement Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	May 12, 2020	Apr. 20, 2020	Mar. 31, 2020	Mar. 31, 2019	Jan. 04, 2019
Subsequent Event
Class of Stock [Line Items]
Issuance of common stock, net of offering costs (shares)		4,500,000
2019 Equity distribution agreement
Class of Stock [Line Items]
Aggregate offering price of the distribution agreement maximum					$ 1,000
Proceeds from Issuance of Common Stock			$ 6.8
Sale of Stock, Price Per Share			$ 138.17
Payments of Stock Issuance Costs			$ 0.1
Common stock issued in public offering (shares)			50,000	0
2019 Equity distribution agreement | Subsequent Event
Class of Stock [Line Items]
Net proceeds	$ 638.9	$ 638.9
Issuance of common stock, net of offering costs (shares)	4,500,000
Average share price	$ 142.43	$ 142.43
Commission fees to sales agent	$ 6.5	$ 6.5
Shares reserved for future issuance	347,800,000	347,800,000

Equity and Accumulated Other _4

Equity and Accumulated Other Comprehensive Loss, Net (Forward Equity Sale) (Details) - Digital Realty Trust, L.P. - USD ($) $ in Billions	Sep. 27, 2019	Sep. 27, 2018
Forward Sale Agreement
Class of Stock [Line Items]
Common stock issued in public offering (shares)		9,775,000
Net proceeds on public offering	$ 1
Over-Allotment Option
Class of Stock [Line Items]
Common stock issued in public offering (shares)		1,275,000

Equity and Accumulated Other _5

Equity and Accumulated Other Comprehensive Loss, Net (Noncontrolling Interests in Operating Partnership) (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Number of units (units)	263,595,562	208,900,758
Percentage of total	96.90%	95.90%
Common stock conversion ratio	1
Digital Realty Trust, L.P.
Class of Stock [Line Items]
Redeemable noncontrolling interests - operating partnership	$ 1,114.3	$ 997.6
Common units held by third parties
Class of Stock [Line Items]
Common units held by third parties (units)	6,307,648	6,820,201
Percentage of total	2.30%	3.20%
Incentive units held by employees and directors (see Note 14)
Class of Stock [Line Items]
Incentive units held by employees and directors (units)	2,165,738	2,022,954
Percentage of total	0.80%	0.90%
Noncontrolling Interests in Operating Partnership
Class of Stock [Line Items]
Number of units (units)	272,068,948	217,743,913
Percentage of total	100.00%	100.00%

Equity and Accumulated Other _6

Equity and Accumulated Other Comprehensive Loss, Net (Summary of Activity For Noncontrolling Interests in The Operating Partnership) (Details)	3 Months Ended
	Mar. 31, 2020shares
Common and Incentive Unit Activity [Roll Forward]
Beginning balance (units)	8,843,155
Redemption of common units for shares of Digital Realty Trust, Inc. common stock (units)	(512,553)
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (units)	(80,400)
Incentive units issued upon achievement of market performance condition (units)	126,845
Grant of incentive units to employees and directors (units)	98,470
Cancellation / forfeitures of incentive units held by employees and directors (units)	(2,131)
Ending balance (units)	8,473,386
Common Units
Common and Incentive Unit Activity [Roll Forward]
Beginning balance (units)	6,820,201
Redemption of common units for shares of Digital Realty Trust, Inc. common stock (units)	(512,553)
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (units)	0
Incentive units issued upon achievement of market performance condition (units)	0
Grant of incentive units to employees and directors (units)	0
Cancellation / forfeitures of incentive units held by employees and directors (units)	0
Ending balance (units)	6,307,648
Incentive Units
Common and Incentive Unit Activity [Roll Forward]
Beginning balance (units)	2,022,954
Redemption of common units for shares of Digital Realty Trust, Inc. common stock (units)	0
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (units)	(80,400)
Incentive units issued upon achievement of market performance condition (units)	126,845
Grant of incentive units to employees and directors (units)	98,470
Cancellation / forfeitures of incentive units held by employees and directors (units)	(2,131)
Ending balance (units)	2,165,738

Equity and Accumulated Other _7

Equity and Accumulated Other Comprehensive Loss, Net (Schedule of Dividends) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Dividends Payable [Line Items]
Preferred stock, liquidation preference per share/unit (in dollars per share)	$ 25	$ 25
Digital Realty Trust, L.P.
Dividends Payable [Line Items]
Preferred stock, liquidation preference per share/unit (in dollars per share)	25	$ 25
Series C Preferred Stock
Dividends Payable [Line Items]
Preferred stock dividend per share amount (in dollars per share)	$ 1.65625
Series C Preferred Stock | February 27, 2020
Dividends Payable [Line Items]
Dividends, preferred stock	$ 3,333
Series G Cumulative Redeemable Preferred Stock
Dividends Payable [Line Items]
Preferred stock dividend per share amount (in dollars per share)	$ 1.46875
Series G Cumulative Redeemable Preferred Stock | February 27, 2020
Dividends Payable [Line Items]
Dividends, preferred stock	$ 3,672
Series I Cumulative Redeemable Preferred Stock
Dividends Payable [Line Items]
Preferred stock dividend per share amount (in dollars per share)	$ 1.58750
Series I Cumulative Redeemable Preferred Stock | February 27, 2020
Dividends Payable [Line Items]
Dividends, preferred stock	$ 3,969
Series J Cumulative Redeemable Preferred Stock
Dividends Payable [Line Items]
Preferred stock dividend per share amount (in dollars per share)	$ 1.31250
Series J Cumulative Redeemable Preferred Stock | February 27, 2020
Dividends Payable [Line Items]
Dividends, preferred stock	$ 2,625
Series K Cumulative Redeemable Preferred Stock
Dividends Payable [Line Items]
Preferred stock dividend per share amount (in dollars per share)	$ 1.46250
Series K Cumulative Redeemable Preferred Stock | February 27, 2020
Dividends Payable [Line Items]
Dividends, preferred stock	$ 3,071
Series L Cumulative Redeemable Preferred Stock
Dividends Payable [Line Items]
Preferred stock dividend per share amount (in dollars per share)	$ 1.30000
Series L Cumulative Redeemable Preferred Stock | February 27, 2020
Dividends Payable [Line Items]
Dividends, preferred stock	$ 4,485
Common Stock
Dividends Payable [Line Items]
Common stock dividend per share amount (in dollars per share)	$ 4.48000
Common Stock | February 27, 2020
Dividends Payable [Line Items]
Dividends, common stock	$ 295,630

Equity and Accumulated Other _8

Equity and Accumulated Other Comprehensive Loss, Net (Schedule of Accumulated Other Comprehensive Loss, Net) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 10,608,100
Ending balance	17,176,540
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(114,947)
Net current period change	(344,350)
Reclassification to interest expense from interest rate swaps	0
Ending balance	(459,297)
Cash flow hedge adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	1,287
Net current period change	(11,412)
Reclassification to interest expense from interest rate swaps	(538)
Ending balance	(10,663)
Foreign currency net investment hedge adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	25,738
Net current period change	0
Reclassification to interest expense from interest rate swaps	0
Ending balance	25,738
Accumulated other comprehensive income (loss), net
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(87,922)
Net current period change	(355,762)
Reclassification to interest expense from interest rate swaps	(538)
Ending balance	$ (444,222)

Capital and Accumulated Other_3

Capital and Accumulated Other Comprehensive Income (Loss) (Equity Distribution Agreement Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	May 12, 2020	Apr. 20, 2020	Mar. 31, 2020	Mar. 31, 2019	Jan. 04, 2019
Subsequent Event
Class of Stock [Line Items]
Issuance of common stock, net of offering costs (shares)		4,500,000
2019 Equity distribution agreement
Class of Stock [Line Items]
Aggregate offering price of the distribution agreement maximum					$ 1,000
Proceeds from Issuance of Common Stock			$ 6.8
Sale of Stock, Price Per Share			$ 138.17
Payments of Stock Issuance Costs			$ 0.1
Common stock issued in public offering (shares)			50,000	0
2019 Equity distribution agreement | Subsequent Event
Class of Stock [Line Items]
Net proceeds	$ 638.9	$ 638.9
Issuance of common stock, net of offering costs (shares)	4,500,000
Average share price	$ 142.43	$ 142.43
Commission fees to sales agent	$ 6.5	$ 6.5
Shares reserved for future issuance	347,800,000	347,800,000
Shares issued , contribution to operating partnership		4,600,000

Capital and Accumulated Other_4

Capital and Accumulated Other Comprehensive Income (Loss) (Forward Equity Sale) (Details) - Digital Realty Trust, L.P. - USD ($) $ in Billions	Sep. 27, 2019	Sep. 27, 2018
Forward Sale Agreement
Class of Stock [Line Items]
Common stock issued in public offering (shares)		9,775,000
Net proceeds on public offering	$ 1
Over-Allotment Option
Class of Stock [Line Items]
Common stock issued in public offering (shares)		1,275,000

Capital and Accumulated Other_5

Capital and Accumulated Other Comprehensive Income (Loss) (Partnership Units Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Digital Realty Trust, L.P.
Class of Stock [Line Items]
Redeemable noncontrolling interests - operating partnership	$ 1,114.3	$ 997.6

Capital and Accumulated Other_6

Capital and Accumulated Other Comprehensive Income (Loss) (Schedule of Distributions) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Dividends Payable [Line Items]
Preferred stock, liquidation preference per share/unit (in dollars per share)	$ 25	$ 25
Digital Realty Trust, L.P.
Dividends Payable [Line Items]
Preferred stock, liquidation preference per share/unit (in dollars per share)	25	$ 25
Digital Realty Trust, L.P. | Series C Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount (in dollars per share/unit)	1.65625
Digital Realty Trust, L.P. | Series G Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount (in dollars per share/unit)	1.46875
Digital Realty Trust, L.P. | Series I Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount (in dollars per share/unit)	1.58750
Digital Realty Trust, L.P. | Potentially dilutive Series J Cumulative Redeemable Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount (in dollars per share/unit)	1.31250
Digital Realty Trust, L.P. | Potentially dilutive Series K Cumulative Redeemable Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount (in dollars per share/unit)	1.46250
Digital Realty Trust, L.P. | Series L Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount (in dollars per share/unit)	1.30000
Digital Realty Trust, L.P. | Common Units
Dividends Payable [Line Items]
Common stock dividend per share amount (in dollars per share/unit)	$ 4.48000
Digital Realty Trust, L.P. | February 27, 2020 | Series C Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	$ 3,333
Digital Realty Trust, L.P. | February 27, 2020 | Series G Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	3,672
Digital Realty Trust, L.P. | February 27, 2020 | Series I Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	3,969
Digital Realty Trust, L.P. | February 27, 2020 | Potentially dilutive Series J Cumulative Redeemable Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	2,625
Digital Realty Trust, L.P. | February 27, 2020 | Potentially dilutive Series K Cumulative Redeemable Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	3,071
Digital Realty Trust, L.P. | February 27, 2020 | Series L Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	4,485
Digital Realty Trust, L.P. | February 27, 2020 | Common Units
Dividends Payable [Line Items]
Dividends/Distributions, common stock/units	$ 305,267

Capital and Accumulated Other_7

Capital and Accumulated Other Comprehensive Income (Loss) (Schedule of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty	$ 0	$ 21,687
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Net current period change	(344,350)
Reclassification to interest expense from interest rate swaps	0
Cash flow hedge adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Net current period change	(11,412)
Reclassification to interest expense from interest rate swaps	(538)
Foreign currency net investment hedge adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Net current period change	0
Reclassification to interest expense from interest rate swaps	0
Accumulated other comprehensive income (loss), net
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Net current period change	(355,762)
Reclassification to interest expense from interest rate swaps	(538)
Digital Realty Trust, L.P.
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	10,608,100	10,858,210
Net current period change	(369,040)
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty	0	21,687
Reclassification to interest expense from interest rate swaps	(558)
Ending balance	17,176,540	10,982,499
Digital Realty Trust, L.P. | Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		(117,869)
Net current period change	(357,202)
Reclassification to interest expense from interest rate swaps	0
Ending balance	(475,071)
Digital Realty Trust, L.P. | Cash flow hedge adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		308
Net current period change	(11,838)
Reclassification to interest expense from interest rate swaps	(558)
Ending balance	(12,088)
Digital Realty Trust, L.P. | Foreign currency net investment hedge adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		26,152
Net current period change	0
Reclassification to interest expense from interest rate swaps	0
Ending balance	26,152
Digital Realty Trust, L.P. | Accumulated other comprehensive income (loss), net
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		$ (91,409)
Ending balance	$ (461,007)

Incentive Plan (Narrative) (Det

Incentive Plan (Narrative) (Details) shares in Millions	Mar. 09, 2020shares	Sep. 22, 2017shares	Mar. 31, 2020shares
InterXion
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares registered for issuance (shares)	0.6
2004 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares registered for issuance (shares)		3.7
2014 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares remaining for issuance under Incentive Plan (shares)			6.1
Conversion of units to shares ratio			1

Incentive Plan (Schedule of Com

Incentive Plan (Schedule of Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Granted (shares)	98,470
Long-term incentive units
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Deferred compensation, expensed	$ 3.1	$ 1.4
Deferred compensation, capitalized	0.1
Unearned Compensation	$ 24.7		$ 15.4
Expected period to recognize unearned compensation (in years)	2 years 6 months
Granted (shares)	76,044
Vested (shares)	70,406
Long-term incentive units | Minimum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award vesting period	2 years
Long-term incentive units | Maximum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award vesting period	4 years
Performance-based awards
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Deferred compensation, expensed	$ 4.7	3.1
Deferred compensation, capitalized	0.2	0.2
Unearned Compensation	$ 41.4		28.4
Expected period to recognize unearned compensation (in years)	3 years
Performance-based awards | Minimum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award vesting period	2 years
Performance-based awards | Maximum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award vesting period	3 years
Restricted stock
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Deferred compensation, expensed	$ 3.2	2.6
Deferred compensation, capitalized	0.8	$ 0.6
Unearned Compensation	$ 50		$ 29.1
Expected period to recognize unearned compensation (in years)	3 years 1 month 6 days
Granted (shares)	759,342
Vested (shares)	122,683
Restricted stock | Maximum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award vesting period	4 years
Interxion awards
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Deferred compensation, expensed	$ 3
Unearned Compensation	$ 47.5
Expected period to recognize unearned compensation (in years)	2 years 8 months 12 days
Granted (shares)	567,810
Performance based class d units and rsu
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Granted (shares)	64,709
Profits interest units and RSU
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Granted (shares)	25,635

Incentive Plan (Summary of Long

Incentive Plan (Summary of Long-Term Incentive Units) (Details)	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Units
Granted (shares)	98,470
Long-term incentive units
Units
Unvested beginning of period (shares)	208,287
Granted (shares)	76,044
Vested (shares)	(70,406)
Cancelled or expired (shares)	(2,131)
Unvested end of period (shares)	211,794
Weighted-Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share) | $ / shares	$ 110
Granted (in dollars per share) | $ / shares	132.62
Vested (in dollars per share) | $ / shares	109.82
Cancelled or expired (in dollars per share) | $ / shares	108.57
Unvested, end of period (in dollars per share) | $ / shares	$ 118.19
Long-term incentive units | Minimum
Weighted-Average Grant Date Fair Value
Award vesting period	2 years
Long-term incentive units | Maximum
Weighted-Average Grant Date Fair Value
Award vesting period	4 years
Performance-based awards | Minimum
Weighted-Average Grant Date Fair Value
Award vesting period	2 years
Performance-based awards | Maximum
Weighted-Average Grant Date Fair Value
Award vesting period	3 years

Incentive Plan (Market Performa

Incentive Plan (Market Performance Based Awards) (Details) $ in Millions

Feb. 27, 2024

Feb. 27, 2023

Feb. 23, 2023

Feb. 27, 2022

Feb. 27, 2021

Feb. 27, 2020

Feb. 27, 2019

Feb. 27, 2017

Jan. 31, 2020shares

Jan. 31, 2019shares

Mar. 31, 2020USD ($)itemshares

Mar. 31, 2019USD ($)

2014 Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Performance period

3 years

2015 Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Performance period

3 years

Performance-based awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Performance period

3 years

Number of trials | item

100,000

Fair value of awards | $

$ 17.2

$ 20.3

Award requisite service period

4 years

Performance-based awards | Below Threshold Level

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting percentage

0.00%

Performance Threshold

(500.00%)

(300.00%)

Performance-based awards | Threshold Level

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting percentage

25.00%

Performance Threshold

(500.00%)

(300.00%)

Performance-based awards | Target Level

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting percentage

50.00%

Performance Threshold

0.00%

100.00%

Performance-based awards | High Level

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting percentage

100.00%

Performance Threshold

500.00%

500.00%

Performance-based awards | First Vesting Period in February | 2014 Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting percentage

50.00%

Performance-based awards | First Vesting Period in February | 2016 Performance Grant

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting percentage

50.00%

50.00%

Performance-based awards | First Vesting Period in February | 2017 Performance Grant

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting percentage

50.00%

Class D Units | 2015 Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vested (shares)

339,317

Class D Units | 2017 Performance Grant

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vested (shares)

137,816

Distribution Equivalent Unit | High Level | 2015 Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vested (shares)

31,009

Distribution Equivalent Unit | High Level | 2017 Performance Grant

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vested (shares)

10,971

Restricted Stock Units (RSUs) | 2016 Performance Grant

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vested (shares)

56,778

Restricted Stock Units (RSUs) | High Level

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vested (shares)

29,141

Scenario, Forecast | Performance-based awards | First Vesting Period in February | 2018 Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting percentage

50.00%

Scenario, Forecast | Performance-based awards | First Vesting Period in February | 2019 Performance Grant

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting percentage

50.00%

50.00%

50.00%

Scenario, Forecast | Performance-based awards | Second Vesting Period in February | 2018 Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting percentage

50.00%

Scenario, Forecast | Performance-based awards | Second Vesting Period in February | 2019 Performance Grant

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting percentage

50.00%

Incentive Plan (Assumptions Use

Incentive Plan (Assumptions Used) (Details) - Performance-based awards	Feb. 20, 2020	Feb. 19, 2020	Feb. 21, 2019	Jan. 01, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected Stock Price Volatility	22.00%	22.00%	23.00%	23.00%
Risk-Free Interest rate	1.35%	1.39%	2.48%	2.44%

Incentive Plan (Summary of Rest

Incentive Plan (Summary of Restricted Stock Activity) (Details)	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Units
Granted (shares)	98,470
Restricted stock
Units
Unvested beginning of period (shares)	372,792
Granted (shares)	759,342
Vested (shares)	(122,683)
Cancelled or expired (shares)	(6,384)
Unvested end of period (shares)	1,003,067
Weighted-Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share) | $ / shares	$ 108.47
Granted (in dollars per share) | $ / shares	124.41
Vested (in dollars per share) | $ / shares	104.20
Cancelled or expired (in dollars per share) | $ / shares	117.55
Unvested, end of period (in dollars per share) | $ / shares	$ 121.01
Restricted stock | Maximum
Weighted-Average Grant Date Fair Value
Award vesting period	4 years
Interxion awards
Units
Granted (shares)	567,810

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Gain (loss) to be reclassified within twelve months	$ 4,100
Interest Rate Swap
Derivative [Line Items]
Notional Amount	$ 474,024	$ 479,825

Derivative Instruments (Outstan

Derivative Instruments (Outstanding Interest Rate Derivatives) (Details) $ in Thousands	Mar. 31, 2020USD ($)$ / $	Dec. 31, 2019USD ($)$ / $
Unsecured term loans, net | Canadian dollar (CAD)
Currently-paying contracts
Exchange rate | $ / $	0.71	0.77
Interest Rate Swap 1.016
Currently-paying contracts
Notional Amount	$ 29,000	$ 29,000
Strike Rate	1.016%
Interest Rate Swap 1.016 | Level 2
Currently-paying contracts
Fair value of derivatives	$ (143)	175
Interest Rate Swap, 1.164
Currently-paying contracts
Notional Amount	$ 75,000	75,000
Strike Rate	1.164%
Interest Rate Swap, 1.164 | Level 2
Currently-paying contracts
Fair value of derivatives	$ (483)	345
Interest Rate Swap, 1.435
Currently-paying contracts
Notional Amount	$ 300,000	300,000
Strike Rate	1.435%
Interest Rate Swap, 1.435 | Level 2
Currently-paying contracts
Fair value of derivatives	$ (9,612)	945
Interest Rate Swap, 0.779
Currently-paying contracts
Notional Amount	$ 70,024	75,825
Strike Rate	0.779%
Interest Rate Swap, 0.779 | Level 2
Currently-paying contracts
Fair value of derivatives	$ (24)	931
Interest Rate Swap
Currently-paying contracts
Notional Amount	474,024	479,825
Interest Rate Swap | Level 2
Currently-paying contracts
Fair value of derivatives	$ (10,262)	$ 2,396
Digital Realty Trust, L.P. | Unsecured term loans, net | Canadian dollar (CAD)
Currently-paying contracts
Exchange rate | $ / $	0.71	0.77

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Estimated Fair Value And Carrying Amounts) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	$ 12,269,457	$ 10,861,382
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	12,350,185	10,189,343
Level 2 | Global revolving credit facilities, net | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of credit	613,913	245,766
Level 2 | Global revolving credit facilities, net | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of credit	613,913	245,766
Level 2 | Unsecured term loans, net | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of credit	774,096	813,205
Level 2 | Unsecured term loans, net | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of credit	774,096	813,205
Level 2 | Secured Debt | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	224,528	105,245
Level 2 | Secured Debt | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	239,964	105,143
Level 2 | Senior Notes | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured senior notes	10,656,920	9,697,166
Level 2 | Senior Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured senior notes	$ 10,722,212	$ 9,025,229

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) $ in Millions	Mar. 31, 2020USD ($)
Commitments and Contingencies.
Reimbursable amount of commitments related to construction contracts	$ 23.9
Commitments related to construction contracts	$ 969.8