Digital Realty Trust 10-Q 2010 Q3 Quarterly report

Exhibit 12.1

Digital Realty Trust, Inc. and Subsidiaries

Statement of Computation of Ratios (1)

(in thousands, except ratios)

	Nine months ended September 30,					Year ended December 31,
	2010		2009			2009			2008			2007			2006
Income from continuing operations before noncontrolling interests	$	69,114	$	66,337		$	91,234		$	67,918		$	22,546		$	24,890
Interest expense		100,801		63,991			88,442			63,621			67,054			50,598
Interest within rental expense		1,921		2,174			2,633			2,619			1,971			680
Noncontrolling interests in consolidated joint ventures		29		(614	)		(140	)		(335	)		—			—
Earnings available to cover fixed charges	$	171,865	$	131,888		$	182,169		$	133,823		$	91,571		$	76,168
Fixed charges:
Interest expense	$	100,801	$	63,991		$	88,442		$	63,621		$	67,054		$	50,598
Interest within rental expense(2)		1,921		2,174			2,633			2,619			1,971			680
Capitalized interest		7,141		7,246			9,196			18,351			12,264			4,028
		109,863		73,411			100,271			84,591			81,289			55,306
Preferred stock dividends		29,396		30,303			40,404			38,564			19,330			13,780
Fixed charges and preferred stock dividends	$	139,259	$	103,714		$	140,675		$	123,155		$	100,619		$	69,086
Ratio of earnings to fixed charges		1.56		1.80			1.82			1.58			1.13			1.38
Ratio of earnings to fixed charges and preferred stock dividends		1.23		1.27			1.29			1.09			—	(3)		1.10

(1) All numbers presented in this exhibit exclude 7979 East Tufts Avenue (sold July 2006), 100 Technology Center Drive (sold in March 2007) and 4055 Valley View Lane (sold in March 2007).

(2) Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest).

(3) For the year ended December 31, 2007, earnings were insufficient to cover fixed charges and preferred dividends by $9,048.

Digital Realty Trust, L.P. and Subsidiaries

Statement of Computation of Ratios (1)

(in thousands, except ratios)

	Nine months ended September 30,					Year ended December 31,
	2010		2009			2009			2008			2007			2006
Income from continuing operations before noncontrolling interests	$	69,114	$	66,337		$	91,234		$	67,918		$	22,546		$	24,890
Interest expense		100,801		63,991			88,442			63,621			67,054			50,598
Interest within rental expense		1,921		2,174			2,633			2,619			1,971			680
Noncontrolling interests in consolidated joint ventures		29		(614	)		(140	)		(335	)		—			—
Earnings available to cover fixed charges	$	171,865	$	131,888		$	182,169		$	133,823		$	91,571		$	76,168
Fixed charges:
Interest expense	$	100,801	$	63,991		$	88,442		$	63,621		$	67,054		$	50,598
Interest within rental expense(2)		1,921		2,174			2,633			2,619			1,971			680
Capitalized interest		7,141		7,246			9,196			18,351			12,264			4,028
		109,863		73,411			100,271			84,591			81,289			55,306
Preferred unit distributions		29,396		30,303			40,404			38,564			19,330			13,780
Fixed charges and preferred unit distributions	$	139,259	$	103,714		$	140,675		$	123,155		$	100,619		$	69,086
Ratio of earnings to fixed charges		1.56		1.80			1.82			1.58			1.13			1.38
Ratio of earnings to fixed charges and preferred unit distributions		1.23		1.27			1.29			1.09			—	(3)		1.10

(1) All numbers presented in this exhibit exclude 7979 East Tufts Avenue (sold July 2006), 100 Technology Center Drive (sold in March 2007) and 4055 Valley View Lane (sold in March 2007).

(2) Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest).

(3) For the year ended December 31, 2007, earnings were insufficient to cover fixed charges and preferred distributions by $9,048.