Exhibit 12.1
Digital Realty Trust, Inc. and Subsidiaries
Statement of Computation of Ratios
(in thousands, except ratios)
Year Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
Income from continuing operations before noncontrolling interests | $ | 203,415 | $ | 320,449 | $ | 216,047 | $ | 162,126 | $ | 105,412 | ||||||||||
Interest expense | 191,085 | 189,399 | 157,108 | 149,350 | 137,384 | |||||||||||||||
Interest within rental expense (1) | 5,393 | 7,687 | 3,410 | 2,847 | 2,604 | |||||||||||||||
Noncontrolling interests in consolidated joint ventures | (465 | ) | (595 | ) | 444 | 324 | 288 | |||||||||||||
Earnings available to cover fixed charges | $ | 399,428 | $ | 516,940 | $ | 377,009 | $ | 314,647 | $ | 245,688 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | $ | 191,085 | $ | 189,399 | $ | 157,108 | $ | 149,350 | $ | 137,384 | ||||||||||
Interest within rental expense (1) | 5,393 | 7,687 | 3,410 | 2,847 | 2,604 | |||||||||||||||
Capitalized interest | 20,373 | 26,277 | 21,456 | 17,905 | 10,241 | |||||||||||||||
Total fixed charges | 216,851 | 223,363 | 181,974 | 170,102 | 150,229 | |||||||||||||||
Preferred stock dividends | 67,465 | 42,905 | 38,672 | 25,397 | 37,004 | |||||||||||||||
Fixed charges and preferred stock dividends | $ | 284,316 | $ | 266,268 | $ | 220,646 | $ | 195,499 | $ | 187,233 | ||||||||||
Ratio of earnings to fixed charges | 1.84 | 2.31 | 2.07 | 1.85 | 1.64 | |||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends | 1.40 | 1.94 | 1.71 | 1.61 | 1.31 |
(1) Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest).
Digital Realty Trust, L.P. and Subsidiaries
Statement of Computation of Ratios
(in thousands, except ratios)
Year Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
Income from continuing operations before noncontrolling interests | $ | 203,415 | $ | 320,449 | $ | 216,047 | $ | 162,126 | $ | 105,412 | ||||||||||
Interest expense | 191,085 | 189,399 | 157,108 | 149,350 | 137,384 | |||||||||||||||
Interest within rental expense (1) | 5,393 | 7,687 | 3,410 | 2,847 | 2,604 | |||||||||||||||
Noncontrolling interests in consolidated joint ventures | (465 | ) | (595 | ) | 444 | 324 | 288 | |||||||||||||
Earnings available to cover fixed charges | $ | 399,428 | $ | 516,940 | $ | 377,009 | $ | 314,647 | $ | 245,688 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | $ | 191,085 | $ | 189,399 | $ | 157,108 | $ | 149,350 | $ | 137,384 | ||||||||||
Interest within rental expense (1) | 5,393 | 7,687 | 3,410 | 2,847 | 2,604 | |||||||||||||||
Capitalized interest | 20,373 | 26,277 | 21,456 | 17,905 | 10,241 | |||||||||||||||
Total fixed charges | 216,851 | 223,363 | 181,974 | 170,102 | 150,229 | |||||||||||||||
Preferred unit distributions | 67,465 | 42,905 | 38,672 | 25,397 | 37,004 | |||||||||||||||
Fixed charges and preferred unit distributions | $ | 284,316 | $ | 266,268 | $ | 220,646 | $ | 195,499 | $ | 187,233 | ||||||||||
Ratio of earnings to fixed charges | 1.84 | 2.31 | 2.07 | 1.85 | 1.64 | |||||||||||||||
Ratio of earnings to fixed charges and preferred unit distributions | 1.40 | 1.94 | 1.71 | 1.61 | 1.31 |
(1) Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest).