Digital Realty Trust 10-Q 6 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 03, 2016
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Registrant Name	Digital Realty Trust, Inc.
Entity Central Index Key	1,297,996
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		146,823,802
Digital Realty Trust, L.P.
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Registrant Name	Digital Realty Trust, L.P.
Entity Central Index Key	1,494,877
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Properties:
Land	$ 694,115	$ 689,573
Acquired ground leases	12,650	12,639
Buildings and improvements	9,855,940	9,676,427
Tenant improvements	540,207	536,734
Total investments in properties	11,102,912	10,915,373
Accumulated depreciation and amortization	(2,380,400)	(2,251,268)
Net investments in properties	8,722,512	8,664,105
Investment in unconsolidated joint ventures	106,008	106,107
Net investments in real estate	8,828,520	8,770,212
Cash and cash equivalents	31,134	57,053
Accounts and other receivables, net of allowance for doubtful accounts of $3,913 and $5,844 as of March 31, 2016 and December 31, 2015, respectively	180,456	177,398
Deferred rent	412,579	403,327
Acquired above-market leases, net	30,107	32,698
Goodwill	330,664	330,664
Acquired in-place lease value, deferred leasing costs and intangibles, net	1,368,340	1,391,659
Restricted cash	19,599	18,009
Assets held for sale	145,087	180,139
Other assets	75,489	54,904
Total assets	11,421,975	11,416,063
LIABILITIES AND EQUITY
Unsecured senior notes, net of discount	3,662,753	3,712,569
Mortgage loans, including premiums	249,923	302,930
Accounts payable and other accrued liabilities	570,652	608,343
Accrued dividends and distributions	0	126,925
Acquired below-market leases, net	96,475	101,114
Security deposits and prepaid rents	147,934	138,347
Obligations associated with assets held for sale	4,974	5,795
Total liabilities	$ 6,976,765	$ 6,879,561
Commitments and contingencies
Preferred Stock: $0.01 par value per share, 70,000,000 shares authorized:
Common Stock: $0.01 par value, 215,000,000 shares authorized, 146,797,648 and 146,384,247 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively	$ 1,459	$ 1,456
Additional paid-in capital	4,659,484	4,655,220
Accumulated dividends in excess of earnings	(1,440,028)	(1,350,089)
Accumulated other comprehensive loss, net	(104,252)	(96,590)
Total stockholders’ equity	4,406,798	4,500,132
Noncontrolling Interests:
Noncontrolling interests in operating partnership	31,648	29,612
Noncontrolling interests in consolidated joint ventures	6,764	6,758
Total noncontrolling interests	38,412	36,370
Total equity	4,445,210	4,536,502
Total liabilities and equity/capital	11,421,975	11,416,063
Digital Realty Trust, L.P.
Properties:
Land	694,115	689,573
Acquired ground leases	12,650	12,639
Buildings and improvements	9,855,940	9,676,427
Tenant improvements	540,207	536,734
Total investments in properties	11,102,912	10,915,373
Accumulated depreciation and amortization	(2,380,400)	(2,251,268)
Net investments in properties	8,722,512	8,664,105
Investment in unconsolidated joint ventures	106,008	106,107
Net investments in real estate	8,828,520	8,770,212
Cash and cash equivalents	31,134	57,053
Accounts and other receivables, net of allowance for doubtful accounts of $3,913 and $5,844 as of March 31, 2016 and December 31, 2015, respectively	180,456	177,398
Deferred rent	412,579	403,327
Acquired above-market leases, net	30,107	32,698
Goodwill	330,664	330,664
Acquired in-place lease value, deferred leasing costs and intangibles, net	1,368,340	1,391,659
Restricted cash	19,599	18,009
Assets held for sale	145,087	180,139
Other assets	75,489	54,904
Total assets	11,421,975	11,416,063
LIABILITIES AND EQUITY
Unsecured senior notes, net of discount	3,662,753	3,712,569
Mortgage loans, including premiums	249,923	302,930
Accounts payable and other accrued liabilities	572,017	609,708
Accrued dividends and distributions	0	126,925
Acquired below-market leases, net	96,475	101,114
Security deposits and prepaid rents	147,934	138,347
Obligations associated with assets held for sale	4,974	5,795
Total liabilities	$ 6,978,130	$ 6,880,926
Commitments and contingencies
Preferred Stock: $0.01 par value per share, 70,000,000 shares authorized:
146,797,648 and 146,384,247 units issued and outstanding as of March 31, 2016 and December 31, 2015, respectively	$ 3,219,550	$ 3,305,222
Limited partners, 1,221,314 and 1,421,314 common units, 995,999 and 1,170,610 profits interest units and 379,237 and 379,237 class C units outstanding as of March 31, 2016 and December 31, 2015, respectively	36,152	33,986
Accumulated other comprehensive loss, net	(108,756)	(100,964)
Total partners’ capital	4,437,081	4,528,379
Noncontrolling Interests:
Noncontrolling interests in consolidated joint ventures	6,764	6,758
Total capital	4,443,845	4,535,137
Total liabilities and equity/capital	11,421,975	11,416,063
Series E Preferred Units
Preferred Stock: $0.01 par value per share, 70,000,000 shares authorized:
Preferred Stock	277,172	277,172
Series E Preferred Units | Digital Realty Trust, L.P.
Preferred Stock: $0.01 par value per share, 70,000,000 shares authorized:
Preferred Stock	277,172	277,172
Series F Preferred Units
Preferred Stock: $0.01 par value per share, 70,000,000 shares authorized:
Preferred Stock	176,191	176,191
Series F Preferred Units | Digital Realty Trust, L.P.
Preferred Stock: $0.01 par value per share, 70,000,000 shares authorized:
Preferred Stock	176,191	176,191
Series G Preferred Units
Preferred Stock: $0.01 par value per share, 70,000,000 shares authorized:
Preferred Stock	241,468	241,468
Series G Preferred Units | Digital Realty Trust, L.P.
Preferred Stock: $0.01 par value per share, 70,000,000 shares authorized:
Preferred Stock	241,468	241,468
Series H Preferred Units
Preferred Stock: $0.01 par value per share, 70,000,000 shares authorized:
Preferred Stock	353,290	353,290
Series H Preferred Units | Digital Realty Trust, L.P.
Preferred Stock: $0.01 par value per share, 70,000,000 shares authorized:
Preferred Stock	353,290	353,290
Series I Preferred Stock
Preferred Stock: $0.01 par value per share, 70,000,000 shares authorized:
Preferred Stock	242,014	242,014
Series I Preferred Stock | Digital Realty Trust, L.P.
Preferred Stock: $0.01 par value per share, 70,000,000 shares authorized:
Preferred Stock	242,014	242,014
Global revolving credit facility
LIABILITIES AND EQUITY
Line of credit	677,869	960,271
Global revolving credit facility | Digital Realty Trust, L.P.
LIABILITIES AND EQUITY
Line of credit	677,869	960,271
Unsecured term loan
LIABILITIES AND EQUITY
Line of credit		923,267
Unsecured term loan | Digital Realty Trust, L.P.
LIABILITIES AND EQUITY
Line of credit	$ 1,566,185	$ 923,267

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Accounts and other receivables, net of allowance for doubtful accounts	$ 3,913,000	$ 5,844,000
Preferred Stock, par value	$ 0.01	$ 0.01
Preferred Stock, authorized	70,000,000	70,000,000
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, authorized	215,000,000	215,000,000
Common Stock, shares, issued	146,797,648	146,384,247
Common Stock, shares, outstanding	146,797,648	146,384,247
Series E Preferred Units
Preferred Stock, dividend rate	7.00%	7.00%
Preferred Stock, liquidation preference value	$ 287,500,000	$ 287,500,000
Preferred Stock, liquidation preference per share/unit	$ 25	$ 25
Preferred stock, issued (shares)	11,500,000	11,500,000
Preferred Stock, outstanding (shares)	11,500,000	11,500,000
Series F Preferred Units
Preferred Stock, dividend rate	6.625%	6.625%
Preferred Stock, liquidation preference value	$ 182,500,000	$ 182,500,000
Preferred Stock, liquidation preference per share/unit	$ 25	$ 25
Preferred stock, issued (shares)	7,300,000	7,300,000
Preferred Stock, outstanding (shares)	7,300,000	7,300,000
Series G Preferred Units
Preferred Stock, dividend rate	5.875%	5.875%
Preferred Stock, liquidation preference value	$ 250,000,000	$ 250,000,000
Preferred Stock, liquidation preference per share/unit	$ 25	$ 25
Preferred stock, issued (shares)	10,000,000	10,000,000
Preferred Stock, outstanding (shares)	10,000,000	10,000,000
Series H Preferred Units
Preferred Stock, dividend rate	7.375%	7.375%
Preferred Stock, liquidation preference value	$ 365,000,000	$ 365,000,000
Preferred Stock, liquidation preference per share/unit	$ 25	$ 25
Preferred stock, issued (shares)	14,600,000	14,600,000
Preferred Stock, outstanding (shares)	14,600,000	14,600,000
Series I Preferred Stock
Preferred Stock, dividend rate	6.35%	6.35%
Preferred Stock, liquidation preference value	$ 250,000,000	$ 250,000,000
Preferred Stock, liquidation preference per share/unit	$ 25	$ 25
Preferred stock, issued (shares)	10,000,000	10,000,000
Preferred Stock, outstanding (shares)	10,000,000	10,000,000
Digital Realty Trust, L.P.
Accounts and other receivables, net of allowance for doubtful accounts	$ 3,913,000	$ 5,844,000
Common Units, issued	146,797,648	146,384,247
Common Units, outstanding	146,797,648	146,384,247
Limited Partners, common units	1,221,314	1,421,314
Limited Partners, profits interest units	995,999	1,170,610
Limited Partners, Class C units outstanding	379,237	379,237
Digital Realty Trust, L.P. | Series E Preferred Units
Preferred Stock, dividend rate	7.00%	7.00%
Preferred Stock, liquidation preference value	$ 287,500,000	$ 287,500,000
Preferred Stock, liquidation preference per share/unit	$ 25	$ 25
Preferred Units, issued	11,500,000	11,500,000
Preferred Units, outstanding	11,500,000	11,500,000
Digital Realty Trust, L.P. | Series F Preferred Units
Preferred Stock, dividend rate	6.625%	6.625%
Preferred Stock, liquidation preference value	$ 182,500,000	$ 182,500,000
Preferred Stock, liquidation preference per share/unit	$ 25	$ 25
Preferred Units, issued	7,300,000	7,300,000
Preferred Units, outstanding	7,300,000	7,300,000
Digital Realty Trust, L.P. | Series G Preferred Units
Preferred Stock, dividend rate	5.875%	5.875%
Preferred Stock, liquidation preference value	$ 250,000,000	$ 250,000,000
Preferred Stock, liquidation preference per share/unit	$ 25	$ 25
Preferred Units, issued	10,000,000	10,000,000
Preferred Units, outstanding	10,000,000	10,000,000
Digital Realty Trust, L.P. | Series H Preferred Units
Preferred Stock, dividend rate	7.375%	7.375%
Preferred Stock, liquidation preference value	$ 365,000,000	$ 365,000,000
Preferred Stock, liquidation preference per share/unit	$ 25	$ 25
Preferred Units, issued	14,600,000	14,600,000
Preferred Units, outstanding	14,600,000	14,600,000
Digital Realty Trust, L.P. | Series I Preferred Stock
Preferred Stock, dividend rate	6.35%	6.35%
Preferred Stock, liquidation preference value	$ 250,000,000	$ 250,000,000
Preferred Stock, liquidation preference per share/unit	$ 25	$ 25
Preferred Units, issued	10,000,000	10,000,000
Preferred Units, outstanding	10,000,000	10,000,000

Condensed Consolidated Income S

Condensed Consolidated Income Statements - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating Revenues:
Rental	$ 371,128	$ 317,804
Tenant reimbursements	84,218	85,829
Interconnection and other	46,963	1,362
Fee income	1,799	1,614
Other	91	0
Total operating revenues	504,199	406,609
Operating Expenses:
Rental property operating and maintenance	154,169	124,563
Property taxes	27,331	23,263
Insurance	2,412	2,155
Change in fair value of contingent consideration	0	(43,034)
Depreciation and amortization	169,016	129,073
General and administrative	31,256	21,194
Transactions	1,900	93
Other	(1)	(16)
Total operating expenses	386,083	257,291
Operating income	118,116	149,318
Other Income (Expenses):
Equity in earnings of unconsolidated joint ventures	4,078	4,618
Gain on sale of properties	1,097	17,820
Interest and other (expense) income	(624)	(2,290)
Interest expense	(57,261)	(45,466)
Tax expense	(2,109)	(1,675)
Loss from early extinguishment of debt	(964)	0
Net income	62,333	122,325
Net income attributable to noncontrolling interests	(784)	(2,142)
Net income attributable to Digital Realty Trust, Inc./Digital Realty Trust, L.P.	61,549	120,183
Preferred stock/unit dividends/distributions	(22,424)	(18,455)
Net income available to common stock/unitholders	$ 39,125	$ 101,728
Net income per share/unit available to common stockholders/unitholders:
Basic ($ per share/unit)	$ 0.27	$ 0.75
Diluted ($ per share/unit)	$ 0.27	$ 0.75
Weighted average common shares/units outstanding:
Weighted average shares/units outstanding-basic (shares)	146,565,564	135,704,525
Weighted average shares/units outstanding-diluted (shares)	147,433,194	136,128,800
Digital Realty Trust, L.P.
Operating Revenues:
Rental	$ 371,128	$ 317,804
Tenant reimbursements	84,218	85,829
Interconnection and other	46,963	1,362
Fee income	1,799	1,614
Other	91	0
Total operating revenues	504,199	406,609
Operating Expenses:
Rental property operating and maintenance	154,169	124,563
Property taxes	27,331	23,263
Insurance	2,412	2,155
Change in fair value of contingent consideration	0	(43,034)
Depreciation and amortization	169,016	129,073
General and administrative	31,256	21,194
Transactions	1,900	93
Other	(1)	(16)
Total operating expenses	386,083	257,291
Operating income	118,116	149,318
Other Income (Expenses):
Equity in earnings of unconsolidated joint ventures	4,078	4,618
Gain on sale of properties	1,097	17,820
Interest and other (expense) income	(624)	(2,290)
Interest expense	(57,261)	(45,466)
Tax expense	(2,109)	(1,675)
Loss from early extinguishment of debt	(964)	0
Net income	62,333	122,325
Net income attributable to noncontrolling interests	(121)	(116)
Net income attributable to Digital Realty Trust, Inc./Digital Realty Trust, L.P.	62,212	122,209
Preferred stock/unit dividends/distributions	(22,424)	(18,455)
Net income available to common stock/unitholders	$ 39,788	$ 103,754
Net income per share/unit available to common stockholders/unitholders:
Basic ($ per share/unit)	$ 0.27	$ 0.75
Diluted ($ per share/unit)	$ 0.27	$ 0.75
Weighted average common shares/units outstanding:
Weighted average shares/units outstanding-basic (shares)	149,047,798	138,406,993
Weighted average shares/units outstanding-diluted (shares)	149,915,428	138,831,268

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net income	$ 62,333	$ 122,325
Other comprehensive income:
Foreign currency translation adjustments	(1,441)	(45,843)
Decrease in fair value of interest rate swaps	(7,409)	(2,417)
Reclassification to interest expense from interest rate swaps	1,058	818
Comprehensive income	54,541	74,883
Comprehensive income attributable to noncontrolling interests	(654)	(1,216)
Comprehensive income attributable to Digital Realty Trust, Inc.	53,887	73,667
Digital Realty Trust, L.P.
Net income	62,333	122,325
Other comprehensive income:
Foreign currency translation adjustments	(1,441)	(45,843)
Decrease in fair value of interest rate swaps	(7,409)	(2,417)
Reclassification to interest expense from interest rate swaps	1,058	818
Comprehensive income	$ 54,541	$ 74,883

Condensed Consolidated Stateme6

Condensed Consolidated Statement Of Equity - 3 months ended Mar. 31, 2016 - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Dividends in Excess of Earnings	Accumulated other comprehensive income (loss), net	Total Stockholders’ Equity	Noncontrolling Interests in Operating Partnership	Noncontrolling Interests in Consolidated Joint Ventures	Total Noncontrolling Interests
Balance as of December 31, 2015 at Dec. 31, 2015	$ 4,536,502	$ 1,290,135	$ 1,456	$ 4,655,220	$ (1,350,089)	$ (96,590)	$ 4,500,132	$ 29,612	$ 6,758	$ 36,370
Balance as of December 31, 2015 (shares) at Dec. 31, 2015			146,384,247
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of units to common stock			$ 3	2,927			2,930	(2,930)		(2,930)
Conversion of units to common stock (shares)			252,521
Issuance of unvested restricted stock, net of forfeitures (shares)			122,209
Common stock offering costs, net	137			137			137
Exercise of stock options	$ 1,147			1,147			1,147
Exercise of stock options (shares)	28,345		28,345
Shares issued under employee stock purchase plan	$ 658			658			658
Shares issued under employee stock purchase plan			10,326
Amortization of share-based compensation	6,314			6,314			6,314
Reclassification of vested share-based awards				(6,919)			(6,919)	6,919		6,919
Dividends declared on preferred stock	(22,424)				(22,424)		(22,424)
Dividends and distributions on common stock and common and incentive units	(131,550)				(129,064)		(129,064)	(2,486)		(2,486)
Distributions to noncontrolling interests in consolidated joint ventures, net of contributions	(115)								(115)	(115)
Net income	62,333				61,549		61,549	663	121	784
Other comprehensive income—foreign currency translation adjustments	(1,441)					(1,417)	(1,417)	(24)		(24)
Other comprehensive loss—fair value of interest rate swaps	(7,409)					(7,285)	(7,285)	(124)		(124)
Other comprehensive income—reclassification of accumulated other comprehensive loss to interest expense	1,058					1,040	1,040	18		18
Balance as of March 31, 2016 at Mar. 31, 2016	$ 4,445,210	$ 1,290,135	$ 1,459	$ 4,659,484	$ (1,440,028)	$ (104,252)	$ 4,406,798	$ 31,648	$ 6,764	$ 38,412
Balance as of March 31, 2016 (shares) at Mar. 31, 2016			146,797,648

Consolidated Statement Of Capit

Consolidated Statement Of Capital $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)shares
Increase (Decrease) in Partners' Capital [Roll Forward]
Balance (units) | shares	146,384,247
Conversion of limited partner common units to general partner common units	$ 2,930
Units issued under employee stock purchase plan	658
Amortization of share-based compensation	6,314
Net income	62,333
Other comprehensive income—foreign currency translation adjustments	(1,441)
Other comprehensive loss—fair value of interest rate swaps	(7,409)
Other comprehensive income—reclassification of accumulated other comprehensive loss to interest expense	$ 1,058
Balance (units) | shares	146,797,648
Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Balance as of December 31, 2015	$ 4,535,137
Common unit offering costs, net	137
Issuance of common units in connection with the exercise of stock options	1,147
Units issued under employee stock purchase plan	658
Amortization of share-based compensation	6,314
Distributions	(153,974)
Distributions to noncontrolling interests in consolidated joint ventures, net of contributions	(115)
Net income	62,333
Other comprehensive income—foreign currency translation adjustments	(1,441)
Other comprehensive loss—fair value of interest rate swaps	(7,409)
Other comprehensive income—reclassification of accumulated other comprehensive loss to interest expense	1,058
Balance as of March 31, 2016	4,443,845
Accumulated other comprehensive income (loss), net | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Balance as of December 31, 2015	(100,964)
Other comprehensive income—foreign currency translation adjustments	(1,441)
Other comprehensive loss—fair value of interest rate swaps	(7,409)
Other comprehensive income—reclassification of accumulated other comprehensive loss to interest expense	1,058
Balance as of March 31, 2016	(108,756)
Noncontrolling Interests in Consolidated Joint Ventures | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Balance as of December 31, 2015	6,758
Distributions to noncontrolling interests in consolidated joint ventures, net of contributions	(115)
Net income	121
Balance as of March 31, 2016	6,764
General Partner | Preferred Units | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Balance as of December 31, 2015	$ 1,290,135
Balance (units) | shares	53,400,000
Distributions	$ (22,424)
Net income	22,424
Balance as of March 31, 2016	$ 1,290,135
Balance (units) | shares	53,400,000
General Partner | Common Units | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Balance as of December 31, 2015	$ 3,305,222
Balance (units) | shares	146,384,247
Conversion of limited partner common units to general partner common units	$ 2,930
Conversion of limited partner common units to general partner common units (units) | shares	252,521
Issuance of unvested restricted common units, net of forfeitures (units) | shares	122,209
Common unit offering costs, net	$ 137
Issuance of common units in connection with the exercise of stock options	$ 1,147
Issuance of common units in connection with the exercise of stock options (units) | shares	28,345
Units issued under employee stock purchase plan	$ 658
Units issued under employee stock purchase plan (unit) | shares	10,326
Amortization of share-based compensation	$ 6,314
Reclassification of vested share-based awards	(6,919)
Distributions	(129,064)
Net income	39,125
Balance as of March 31, 2016	$ 3,219,550
Balance (units) | shares	146,797,648
Limited Partners | Common Units | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Balance as of December 31, 2015	$ 33,986
Balance (units) | shares	2,833,326
Conversion of limited partner common units to general partner common units	$ (2,930)
Conversion of limited partner common units to general partner common units (units) | shares	(252,521)
Issuance of common units, net of forfeitures (units) | shares	15,745
Reclassification of vested share-based awards	$ 6,919
Distributions	(2,486)
Net income	663
Balance as of March 31, 2016	$ 36,152
Balance (units) | shares	2,596,550

Condensed Consolidated Stateme8

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 62,333	$ 122,325
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of properties	(1,097)	(17,820)
Equity in earnings of unconsolidated joint ventures	(4,078)	(4,618)
Change in fair value of accrued contingent consideration	0	(43,034)
Distributions from unconsolidated joint ventures	4,115	3,436
Write-off of net assets due to early lease terminations	(1)	(30)
Depreciation and amortization of buildings and improvements, tenant improvements and acquired ground leases	127,175	111,696
Amortization of share-based compensation	4,304	2,965
(Recovery of) allowance for doubtful accounts	(1,931)	137
Amortization of deferred financing costs	2,260	2,216
Loss on early extinguishment of debt	964	0
Amortization of debt discount/premium	611	484
Amortization of acquired in-place lease value and deferred leasing costs	41,841	17,379
Amortization of acquired above-market leases and acquired below-market leases, net	(2,266)	(2,324)
Changes in assets and liabilities:
Restricted cash	(1,249)	(399)
Accounts and other receivables	3,221	18,731
Deferred rent	(7,456)	(13,369)
Deferred leasing costs	(4,147)	(4,494)
Other assets	(15,424)	(14,849)
Accounts payable and other accrued liabilities	(39,321)	(42,482)
Security deposits and prepaid rents	9,507	2,972
Net cash provided by operating activities	179,361	138,922
Cash flows from investing activities:
Acquisitions of real estate	(1,329)	0
Proceeds from sale of properties, net	35,769	43,274
Investment in unconsolidated joint ventures	(11)	(7,547)
Receipt of value added tax refund	951	14,115
Refundable value added tax paid	(4,319)	(12,403)
Change in restricted cash	(42)	(75)
Improvements to investments in real estate	(183,890)	(183,817)
Improvement advances to tenants	(9,617)	(8,040)
Collection of advances from tenants for improvements	8,318	5,423
Net cash used in investing activities	(154,170)	(149,070)
Cash flows from financing activities:
Borrowings on revolving credit facility	692,593	540,142
Repayments on revolving credit facility	(975,287)	(213,468)
Borrowings on unsecured term loan	766,201	0
Repayments of Unsecured Debt	(150,873)	0
Principal payments on mortgage loans	(53,041)	(2,255)
Earnout payments related to acquisition	(12,129)	0
Change in restricted cash	(295)	51
Payment of loan fees and costs	(14,207)	(68)
Capital distributions paid to noncontrolling interests in consolidated joint ventures, net	(115)	(99)
Common and preferred stock offering costs paid, net	137	(148)
Proceeds from equity plans	1,805	334
Payment of dividends/distributions to preferred stockholders/unitholders	(22,424)	(18,455)
Payment of dividends/distributions to common unit/stockholders and distributions to noncontrolling interests in operating partnership	(258,475)	(232,878)
Net cash (used in) provided by financing activities	(51,110)	6,156
Net decrease in cash and cash equivalents	(25,919)	(3,992)
Cash and cash equivalents at beginning of period	57,053	41,321
Cash and cash equivalents at end of period	31,134	37,329
Supplemental disclosure of cash flow information:
Cash paid for interest	61,678	63,289
Cash paid for income taxes	1,541	1,185
Supplementary disclosure of noncash investing and financing activities:
Change in net assets related to foreign currency translation adjustments	(1,441)	(45,843)
Decrease in accounts payable and other accrued liabilities related to change in fair value of interest rate swaps	(7,409)	(2,417)
Noncontrolling interests in operating partnership redeemed for or converted to shares of common stock	2,930	857
Accrual for additions to investments in real estate and tenant improvement advances included in accounts payable and accrued expenses	108,251	173,246
Allocation Of Purchase Price Of Properties To Abstract
Investments in real estate	1,329	0
Cash paid for acquisition of real estate	1,329	0
Digital Realty Trust, L.P.
Cash flows from operating activities:
Net income	62,333	122,325
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of properties	(1,097)	(17,820)
Equity in earnings of unconsolidated joint ventures	(4,078)	(4,618)
Change in fair value of accrued contingent consideration	0	(43,034)
Distributions from unconsolidated joint ventures	4,115	3,436
Write-off of net assets due to early lease terminations	(1)	(30)
Depreciation and amortization of buildings and improvements, tenant improvements and acquired ground leases	127,175	111,696
Amortization of share-based compensation	4,304	2,965
(Recovery of) allowance for doubtful accounts	(1,931)	137
Amortization of deferred financing costs	2,260	2,216
Loss on early extinguishment of debt	964	0
Amortization of debt discount/premium	611	484
Amortization of acquired in-place lease value and deferred leasing costs	41,841	17,379
Amortization of acquired above-market leases and acquired below-market leases, net	(2,266)	(2,324)
Changes in assets and liabilities:
Restricted cash	(1,249)	(399)
Accounts and other receivables	3,221	18,731
Deferred rent	(7,456)	(13,369)
Deferred leasing costs	(4,147)	(4,494)
Other assets	(15,424)	(14,849)
Accounts payable and other accrued liabilities	(39,321)	(42,482)
Security deposits and prepaid rents	9,507	2,972
Net cash provided by operating activities	179,361	138,922
Cash flows from investing activities:
Acquisitions of real estate	(1,329)	0
Proceeds from sale of properties, net	35,769	43,274
Investment in unconsolidated joint ventures	(11)	(7,547)
Receipt of value added tax refund	951	14,115
Refundable value added tax paid	(4,319)	(12,403)
Change in restricted cash	(42)	(75)
Improvements to investments in real estate	(183,890)	(183,817)
Improvement advances to tenants	(9,617)	(8,040)
Collection of advances from tenants for improvements	8,318	5,423
Net cash used in investing activities	(154,170)	(149,070)
Cash flows from financing activities:
Borrowings on revolving credit facility	692,593	540,142
Repayments on revolving credit facility	(975,287)	(213,468)
Borrowings on unsecured term loan	766,201	0
Repayments of Unsecured Debt	(150,873)	0
Principal payments on mortgage loans	(53,041)	(2,255)
Earnout payments related to acquisition	(12,129)	0
Change in restricted cash	(295)	51
Payment of loan fees and costs	(14,207)	(68)
Capital distributions paid to noncontrolling interests in consolidated joint ventures, net	(115)	(99)
General partner contributions, net	1,942	186
Payment of dividends/distributions to preferred stockholders/unitholders	(22,424)	(18,455)
Payment of dividends/distributions to common unit/stockholders and distributions to noncontrolling interests in operating partnership	(258,475)	(232,878)
Net cash (used in) provided by financing activities	(51,110)	6,156
Net decrease in cash and cash equivalents	(25,919)	(3,992)
Cash and cash equivalents at beginning of period	57,053	41,321
Cash and cash equivalents at end of period	31,134	37,329
Supplemental disclosure of cash flow information:
Cash paid for interest	61,678	63,289
Cash paid for income taxes	1,541	1,185
Supplementary disclosure of noncash investing and financing activities:
Change in net assets related to foreign currency translation adjustments	(1,441)	(45,483)
Decrease in accounts payable and other accrued liabilities related to change in fair value of interest rate swaps	(7,409)	(2,417)
Accrual for additions to investments in real estate and tenant improvement advances included in accounts payable and accrued expenses	108,251	173,246
Allocation Of Purchase Price Of Properties To Abstract
Investments in real estate	1,329	0
Cash paid for acquisition of real estate	1,329	0
3.950% notes due 2022
Cash flows from financing activities:
Repayments of Unsecured Debt	(25,000)	(67,000)
3.950% notes due 2022 | Digital Realty Trust, L.P.
Cash flows from financing activities:
Repayments of Unsecured Debt	$ (25,000)	$ (67,000)

Condensed Consolidated Stateme9

Condensed Consolidated Statements of Cash Flows (Parenthetical) - Senior Notes	Mar. 31, 2016
3.950% notes due 2022
Stated interest rate (as a percent)	3.95%
4.750% notes due 2023
Stated interest rate (as a percent)	4.75%
Digital Realty Trust, L.P. | 3.950% notes due 2022
Stated interest rate (as a percent)	3.95%
Digital Realty Trust, L.P. | 4.750% notes due 2023
Stated interest rate (as a percent)	4.75%

Organization and Description of

Organization and Description of Business	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization And Description Of Business	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 engaged in the business of owning, acquiring, developing and operating data centers. The Company is focused on providing data center and colocation solutions for domestic and international tenants across a variety of industry verticals ranging from financial services, cloud and information technology services, to manufacturing, energy, healthcare, and consumer products. As of March 31, 2016 , our portfolio consisted of 140 operating properties, including eight Telx properties (of which two are owned and six properties are leased from third parties) and 14 properties held as investments in unconsolidated joint ventures, of which 109 are located throughout North America, 24 are located in Europe, three are located in Australia and four are located in Asia. We are diversified in major metropolitan areas where corporate data center and technology tenants are concentrated, including the Atlanta, Boston, Chicago, Dallas, Los Angeles, New York, Northern Virginia, Phoenix, San Francisco, Seattle and Silicon Valley metropolitan areas in the United States, the Amsterdam, Dublin, Frankfurt (land only), London and Paris metropolitan areas in Europe and the Singapore, Sydney, Melbourne, Hong Kong and Osaka metropolitan areas in the Asia Pacific region. The portfolio consists of corporate data centers, Internet gateway data centers 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, 2016 , Digital Realty Trust, Inc. owns a 98.3% 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	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 United States 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, 2015 , as amended. 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 a 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. 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 generates the capital required by the Company’s business through the Operating Partnership’s operations, by the Operating Partnership’s 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 Income, Net" and "Capital and Accumulated Other Comprehensive Income". 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, 2016 , cash equivalents consist of investments in money market instruments. (c) Investment in Unconsolidated Joint Ventures The Company’s investment in unconsolidated joint ventures is accounted for using the equity method, whereby the investment is increased for capital contributed and our share of the joint ventures’ net income and decreased by distributions we receive and our share of any losses of the joint ventures. We amortize the difference between the cost of our investments in unconsolidated joint ventures and the book value of the underlying equity into equity in earnings from unconsolidated affiliates on a straight-line basis consistent with the lives of the underlying assets. (d) 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. Capitalized costs are allocated to the specific components of a project that are benefited. We capitalized interest of approximately $3.8 million and $4.3 million during the three months ended March 31, 2016 and 2015 , respectively. We capitalized amounts relating to compensation and other overhead expense of employees direct and incremental to construction and successful leasing activities of approximately $16.7 million and $12.3 million , during the three months ended March 31, 2016 and 2015 , respectively. Capitalized leasing costs of approximately $10.4 million and $13.7 million are included in improvements to investments in real estate in cash flows from investing activities in the condensed consolidated statements of cash flows for the three months ended March 31, 2016 and 2015 , respectively. (e) Goodwill Goodwill represents the excess of the purchase price over the fair value of net tangible and intangible assets acquired in a business combination. Goodwill is not amortized. Management performs an annual impairment test for goodwill and between annual tests, management will evaluate the recoverability of goodwill whenever events or changes in circumstances indicate that the carrying value of goodwill may not be fully recoverable. In its impairment tests of goodwill, management will first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If based on this assessment, management determines that the fair value of the reporting unit is not less than its carrying value, then performing the additional two-step impairment test is unnecessary. If our qualitative assessment indicates that goodwill impairment is more likely than not, we perform a two-step impairment test. We test goodwill for impairment under the two-step impairment test by first comparing the book value of net assets to the fair value of the reporting units. If the fair value is determined to be less than the book value or qualitative factors indicate that it is more likely than not that goodwill is impaired, a second step is performed to compute the amount of impairment as the difference between the estimated fair value of goodwill and the carrying value. We estimate the fair value of the reporting units using discounted cash flows. If the carrying value of goodwill exceeds its fair value, an impairment charge is recognized. Goodwill amounted to approximately $330.7 million as of March 31, 2016 and December 31, 2015. (f) Share-Based Compensation The Company measures all share-based compensation awards at fair value on the date they are granted to employees, consultants and directors. The fair value of share-based compensation awards that contain a market condition, market performance-based Class D Units of the Operating Partnership and market performance-based restricted stock units (discussed in Note 13 "Incentive Plan"), is measured using a Monte Carlo simulation method and not adjusted based on actual achievement of the performance goals. We recognize compensation cost, net of forfeitures, for all of our existing awards, including long-term incentive units, market performance-based awards and restricted stock, over a four -year period. (g) 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 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 federal income tax (including any applicable alternative minimum tax) on its taxable income at regular corporate tax rates. The Company is subject to foreign, state and local income taxes in the jurisdictions in which it conducts business. The Company’s U.S. consolidated taxable REIT subsidiaries are subject to both federal and state income taxes to the extent there is taxable income. Accordingly, the Company recognizes current and deferred income taxes for its taxable REIT subsidiaries, certain states and non-U.S. 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, 2016 and December 31, 2015 , we have 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, 2016 and 2015 , we had no such interest or penalties. The tax year 2012 and thereafter remain open to examination by the major taxing jurisdictions with which the Company files tax returns. See Note 10 "Income Taxes" for further discussion on income taxes. (h) 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. (i) Fee Income Occasionally, customers engage the company for certain services. The nature of these services historically involves property management, construction management, and assistance with financing. 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 if certain performance milestones are met. Fee income also includes management fees. These fees arise from contractual 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 entities are recognized to the extent attributable to the unaffiliated interest. (j) 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 (k) Transactions Expense Transactions expense includes acquisition-related expenses and other business development expenses, which are expensed as incurred. Acquisition-related expenses include closing costs, broker commissions and other professional fees, including legal and accounting fees related to acquisitions and significant transactions. (l) Gains on Sale of Properties Gains on sale of properties are recognized using the full accrual or partial sale methods, as applicable, in accordance with U.S. GAAP, provided various criteria relating to the terms of sale and any subsequent involvement with the real estate sold are satisfied. (m) 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 condensed 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, contingent consideration, accounts receivable and deferred rent receivable, performance-based equity compensation plans, the completeness of accrued liabilities and Digital Realty Trust, Inc.’s qualification as a REIT. 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. (n) Segment and Geographic Information All of our properties generate similar revenues and expenses related to tenant rent and reimbursements and operating expenses. The delivery of our products is consistent across all properties and although services are provided to a wide range of customers, the types of real estate services provided to them are standardized throughout the portfolio. As such, the properties in our portfolio have similar economic characteristics and the nature of the products and services provided to our customers and the method to distribute such services are consistent throughout the portfolio. Consequently, our properties qualify for aggregation into one reporting segment. Operating revenues from properties in the United States were $406.3 million and $314.7 million and outside the United States were $97.9 million and $92.0 million for the three months ended March 31, 2016 and 2015 , respectively. We had investments in real estate located in the United States of $6.1 billion and $6.0 billion and outside the United States of $2.7 billion and $2.6 billion as of March 31, 2016 and December 31, 2015 , respectively. Operating revenues from properties located in the United Kingdom were $51.6 million and $50.0 million , or 10.2% and 12.3% of total operating revenues, for the three months ended March 31, 2016 and 2015 , respectively. No other foreign country comprised more than 10% of total operating revenues for each of these periods. We had investments in real estate located in the United Kingdom of $1.6 billion and $1.6 billion , or 18.1% and 18.8% of total long-lived assets, as of March 31, 2016 and December 31, 2015 , respectively. No other foreign country comprised more than 10% of total long-lived assets as of March 31, 2016 and December 31, 2015 . The Company is in the process of evaluating the impact the acquisition of Telx Holdings, Inc., or the Telx Acquisition, may have on the composition of its reportable segments and related disclosures. The Company expects to complete this analysis by the third quarter of 2016. (o) Reclassifications Certain reclassifications of prior year amounts have been made to conform to the current period presentation. During the three months ended March 31, 2015, $1.4 million was reclassified from rental revenues to interconnection and other revenue. See Note 2(p) for discussion of reclassification of deferred financing costs. (p) Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2016-09, “Improvements to Employee Share-Based Payment Accounting,” which provides for simplification of certain aspects of employee share-based payment accounting including income taxes, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The standard will be effective for us in the first quarter of 2017 and will be applied either prospectively, retrospectively or using a modified retrospective transition approach depending on the area covered in this update. We are currently in the process of assessing the impact of the ASU on our consolidated financial statements and disclosures. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Accounting for leases with a term of 12 months or less will be similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. ASU 2016-02 is expected to impact the Company’s consolidated financial statements as the Company has certain operating and land lease arrangements for which it is the lessee. ASU 2016-02 supersedes the previous leases standard, Leases (Topic 840). The standard is effective on January 1, 2019, with early adoption permitted. The Company is currently in the process of evaluating the impact the adoption of ASU 2016-02 will have on the Company’s financial position or results of operations. In April 2015, the FASB voted to defer the effective date of ASU No. 2014-09, which outlines a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers and notes that lease contracts with customers are a scope exception. Public business entities are required to adopt this standard for annual reporting periods beginning after December 15, 2017, early adoption is permitted. We are currently assessing the impact of the guidance on our consolidated financial statements. In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2015-03, “Interest - Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs” (ASU 2015-03). ASU 2015-03 amended the then-current presentation guidance by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 was effective for the Company beginning with the quarter ended March 31, 2016. The adoption of this standard required restatement of our consolidated balance sheet as of December 31, 2015. As a result, Deferred financing costs, net decreased by $35.2 million and Global unsecured revolving credit facility, Unsecured term loan, Unsecured senior notes and Mortgage loans decreased by $7.6 million , $1.3 million , $26.0 million and $0.3 million , respectively, versus amounts previously reported. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis, which provides guidance on the consolidation evaluation for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. In accordance with the guidance, all legal entities are subject to reevaluation under the revised consolidation model. ASU 2015-02 was effective for the Company beginning with the quarter ended March 31, 2016 and the adoption of the standard did not have a significant impact on our consolidated financial statements.

Investments in Real Estate

Investments in Real Estate	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Investments In Real Estate	Investments in Real Estate We acquired no real estate properties during the three months ended March 31, 2016 . Dispositions We sold the following real estate property during the three months ended March 31, 2016 : Location Metropolitan Area Date Sold Gross Proceeds (in millions) Gain on Sale (in millions) 47700 Kato Road and 1055 Page Avenue Silicon Valley January 21, 2016 $ 37.5 $ 1.0 We have identified certain non-core investment properties we intend to sell as part of our capital recycling strategy. Our capital recycling program is designed to identify non-strategic and underperforming assets that can be sold to generate proceeds that will support the funding of our core investment activity. We expect our capital recycling initiative will likewise have a meaningfully positive impact on overall return on invested capital. In addition, our capital recycling program does not represent a strategic shift, as we are not entirely exiting regions or property types. During this process, we are evaluating the carrying value of certain investment properties identified for potential sale to ensure the carrying value is recoverable in light of a potentially shorter holding period. As a result of our evaluation, during the year ended December 31, 2014, we recognized approximately $126.5 million of impairment losses on five properties located in the Central, East and West regions. The fair value of the five properties were primarily based on discounted cash flow analysis, and in certain cases, we supplemented the analysis by obtaining broker opinions of value. As of March 31, 2016 , three of these five properties met the criteria to be classified as held for sale. As of March 31, 2016 , the Company has taken the necessary actions to conclude that an additional four properties (in addition to the three properties referenced above) to be disposed of as part of our capital recycling strategy met the criteria to be classified as held for sale. As of March 31, 2016 , these seven properties had an aggregate carrying value of $145.1 million within total assets and $5.0 million within total liabilities and are shown as assets held for sale and obligations associated with assets held for sale on the condensed consolidated balance sheet. The seven properties are not representative of a significant component of our portfolio, nor do the potential sales represent a significant shift in our strategy.

Investment in Unconsolidated Jo

Investment in Unconsolidated Joint Ventures	3 Months Ended
	Mar. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Joint Ventures	Investment in Unconsolidated Joint Ventures As of March 31, 2016 , our investment in unconsolidated joint ventures consists of effective 50% interests in three joint ventures that own data center properties at 2001 Sixth Avenue in Seattle, Washington, 2020 Fifth Avenue in Seattle, Washington and 33 Chun Choi Street in Hong Kong, and effective 20% interests in two joint ventures, one of which owns 10 data center properties with an investment fund managed by Prudential Real Estate Investors (PREI ® ), and the other which owns one data center property with an affiliate of Griffin Capital Essential Asset REIT, Inc. (GCEAR). The following tables present summarized financial information for our material joint ventures as of March 31, 2016 and December 31, 2015 and for the three months ended March 31, 2016 and 2015 (unaudited, in thousands): As of March 31, 2016 Three Months Ended March 31, 2016 2016 Net Investment in Properties Total Assets Debt Total Liabilities Equity Revenues Property Operating Expense Net Operating Income Net Income Total Unconsolidated Joint Ventures $ 752,641 $ 929,309 $ 459,622 $ 556,685 $ 372,624 $ 33,080 $ (9,652 ) $ 23,428 $ 9,618 Our investment in and share of equity in earnings of unconsolidated joint ventures $ 106,008 $ 4,078 As of December 31, 2015 Three Months Ended March 31, 2015 2015 Net Investment in Properties Total Assets Debt Total Liabilities Equity Revenues Property Operating Expense Net Operating Income Net Income Total Unconsolidated Joint Ventures $ 758,582 $ 935,990 $ 460,023 $ 558,310 $ 377,679 $ 31,850 $ (8,175 ) $ 23,675 $ 10,026 Our investment in and share of equity in earnings of unconsolidated joint ventures $ 106,107 $ 4,618 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. The amortization of this difference was approximately ($0.1) million and $0.1 million for the three months ended March 31, 2016 and 2015 , respectively. Differences between the Company’s investment in the joint ventures and the amount of the underlying equity in net assets of the joint ventures are due to basis differences resulting from the Company’s equity investment recorded at its historical basis versus the fair value of the Company’s contributed interest in the joint ventures. Our proportionate share of the earnings or losses related to these unconsolidated joint ventures is reflected as equity in earnings of unconsolidated joint ventures on the accompanying consolidated income statements.

Acquired Intangible Assets and

Acquired Intangible Assets and Liabilities	3 Months Ended
	Mar. 31, 2016
Acquired Intangible Assets And Liabilities [Abstract]
Acquired Intangible Assets and Liabilities	Acquired Intangible Assets and Liabilities The following summarizes our acquired intangible assets (real estate intangibles, comprised of acquired in-place lease value, tenant relationship value and trade name along with acquired above-market lease value) and intangible liabilities (acquired below-market lease value) as of March 31, 2016 and December 31, 2015 . Balance as of (Amounts in thousands) March 31, 2016 December 31, 2015 Real Estate Intangibles: Acquired in-place lease value: Gross amount $ 900,132 $ 901,381 Accumulated amortization (486,743 ) (472,933 ) Net $ 413,389 $ 428,448 Tenant relationship value: Gross amount $ 734,800 $ 734,800 Accumulated amortization (30,354 ) (14,495 ) Net $ 704,446 $ 720,305 Trade name: Gross amount $ 7,300 $ 7,300 Accumulated amortization (873 ) (417 ) Net $ 6,427 $ 6,883 Acquired above-market leases: Gross amount $ 121,455 $ 122,311 Accumulated amortization (91,348 ) (89,613 ) Net $ 30,107 $ 32,698 Acquired below-market leases: Gross amount $ 294,682 $ 294,791 Accumulated amortization (198,207 ) (193,677 ) Net $ 96,475 $ 101,114 Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental revenues of $2.3 million and $2.3 million for the three months ended March 31, 2016 and 2015 , respectively. The expected average remaining lives for acquired below-market leases and acquired above-market leases is 7.0 years and 4.4 years, respectively, as of March 31, 2016 . 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, 2016 is as follows: (Amounts in thousands) Remainder of 2016 $ 6,135 2017 6,947 2018 5,299 2019 5,338 2020 7,349 Thereafter 35,300 Total $ 66,368 Amortization of acquired in-place lease value (a component of depreciation and amortization expense) was $13.7 million and $11.6 million for the three months ended March 31, 2016 and 2015 , respectively. The expected average amortization period for acquired in-place lease value is 8.2 years as of March 31, 2016 . The weighted average remaining contractual life for acquired leases excluding renewals or extensions is 7.6 years as of March 31, 2016 . Estimated annual amortization of acquired in-place lease value for each of the five succeeding years and thereafter, commencing April 1, 2016 is as follows: (Amounts in thousands) Remainder of 2016 $ 39,423 2017 48,675 2018 46,469 2019 43,990 2020 39,951 Thereafter 194,881 Total $ 413,389 Amortization of tenant relationship value and trade names (a component of depreciation and amortization expense) was approximately $15.9 million and $0.5 million , respectively, for the three months ended March 31, 2016 . The weighted average remaining contractual life for customer contracts and trade names is 11.1 years and 3.5 years, respectively. Estimated annual amortization of customer contracts and trade names for each of the five succeeding years and thereafter, commencing April 1, 2016 is as follows: (Amounts in thousands) Remainder of 2016 $ 48,946 2017 65,261 2018 65,261 2019 64,844 2020 63,436 Thereafter 403,125 Total $ 710,873

Debt of the Company

Debt of the Company	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt of the Company	Debt of the Company In this Note 6, 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 5.875% notes due 2020 ( 5.875% 2020 Notes ), 3.400% Notes due 2020 (3.400% 2020 Notes), 5.250% notes due 2021 ( 2021 Notes ), 3.950% notes due 2022 ( 3.950% 2022 Notes ), 3.625% notes due 2022 ( 3.625% 2022 Notes ), 4.750% notes due 2025 (4.750% 2025 Notes) and its unsecured senior notes sold to Prudential Investment Management, Inc. and certain of its affiliates pursuant to the Amended and Restated Note Purchase and Private Shelf Agreement, as amended, which we refer to as the Prudential Shelf Facility. 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 ( 2023 Notes ) and 4.250% notes due 2025 ( 4.250% 2025 Notes ). The Company is also the guarantor of the Operating Partnership’s and its subsidiary borrowers’ obligations under the global revolving credit facility and unsecured term loan.

Debt of the Operating Partnersh

Debt of the Operating Partnership	3 Months Ended
	Mar. 31, 2016
Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Debt of The Operating Partnership	Debt of the Operating Partnership A summary of outstanding indebtedness of the Operating Partnership as of March 31, 2016 and December 31, 2015 is as follows (in thousands): Indebtedness Interest Rate at March 31, 2016 Maturity Date Principal Outstanding March 31, 2016 Principal Outstanding December 31, 2015 Global revolving credit facility Various (1) Jan 15, 2020 $ 691,161 (2) $ 967,884 (2) Deferred financing costs, net (13,292 ) (7,613 ) Global revolving credit facility, net 677,869 960,271 Unsecured Term Loan Unsecured term loan — 5-year Various (3)(4) Jan 15, 2021 1,273,376 (5) 924,568 (5) Unsecured term loan — 7-year Various (3)(4) Jan 15, 2023 300,000 (5) — Deferred financing costs, net (7,191 ) (1,301 ) Unsecured term loan, net 1,566,185 923,267 Unsecured senior notes: Prudential Shelf Facility: Series C 9.680% Jan 6, 2016 — 25,000 Series E 5.730% Jan 20, 2017 50,000 50,000 Total Prudential Shelf Facility 50,000 75,000 Senior Notes: 5.875% notes due 2020 5.875% Feb 1, 2020 500,000 500,000 3.400% notes due 2020 3.400% Oct 1, 2020 500,000 500,000 5.250% notes due 2021 5.250% Mar 15, 2021 400,000 400,000 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 4.750% notes due 2023 4.750% Oct 13, 2023 430,800 (6) 442,080 (6) 4.250% notes due 2025 4.250% Jan 17, 2025 574,400 (6) 589,440 (6) 4.750% notes due 2025 4.750% Oct 1, 2025 450,000 450,000 Unamortized discounts (17,118 ) (17,914 ) Total senior notes, net of discount 3,638,082 3,663,606 Deferred financing costs, net (25,329 ) (26,037 ) Total unsecured senior notes, net of discount and deferred financing costs 3,662,753 3,712,569 Indebtedness Interest Rate at March 31, 2016 Maturity Date Principal Outstanding March 31, 2016 Principal Outstanding December 31, 2015 Mortgage loans: 2045 & 2055 Lafayette Street (7) 5.93% Feb 6, 2017 $ 61,143 $ 61,437 34551 Ardenwood Boulevard 1-4 (7) 5.95% Nov 11, 2016 50,251 50,477 1100 Space Park Drive (7) 5.89% Dec 11, 2016 50,195 50,423 600 West Seventh Street 5.80% Mar 15, 2016 — 46,000 150 South First Street (7) 6.30% Feb 6, 2017 48,266 48,484 2334 Lundy Place (7) 5.96% Nov 11, 2016 36,549 36,714 8025 North Interstate 35 4.09% Mar 6, 2016 — 5,789 731 East Trade Street 8.22% Jul 1, 2020 3,298 3,420 Unamortized net premiums 404 439 Total mortgage loans, including premiums 250,106 303,183 Deferred financing costs, net (183 ) (253 ) Total mortgage loans, including premiums and net of deferred financing costs 249,923 302,930 Total indebtedness $ 6,156,730 $ 5,899,037 _________________________________ (1) The interest rate for borrowings under the 2016 global revolving credit facility equals the applicable index plus a margin of 100 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. (2) Balances as of March 31, 2016 and December 31, 2015 are as follows (balances, in thousands): Denomination of Draw Balance as of March 31, 2016 Weighted-average interest rate Balance as of December 31, 2015 Weighted-average interest rate Floating Rate Borrowing (a) U.S. dollar ($) $ 220,000 1.44 % $ 274,000 1.46 % British pound sterling (£) 15,796 (b) 1.51 % 95,784 (c) 1.61 % Euro (€) 432,440 (b) 0.69 % 280,565 (c) 0.90 % Australian dollar (AUD) — — % 96,831 (c) 3.16 % Hong Kong dollar (HKD) 902 (b) 1.25 % 86,082 (c) 1.33 % Japanese yen (JPY) — — % 14,304 (c) 1.15 % Singapore dollar (SGD) 20,023 (b) 2.08 % 49,132 (c) 1.92 % Canadian dollar (CAD) 2,000 (b) 1.87 % 71,186 (c) 1.95 % Total $ 691,161 0.99 % $ 967,884 1.53 % (a) The interest rates for floating rate borrowings under the 2016 global revolving credit facility equal the applicable index plus a margin of 100 basis points, which is based on the credit ratings of our long-term debt. (b) Based on exchange rates of $1.44 to £1.00, $1.14 to €1.00, $0.13 to 1.00 HKD, $0.74 to 1.00 SGD and $0.77 to 1.00 CAD, respectively, as of March 31, 2016 . (c) Based on exchange rates of $1.47 to £1.00, $1.09 to €1.00, $0.73 to 1.00 AUD, $0.13 to 1.00 HKD, $0.01 to 1.00 JPY, $0.7 to 1.00 SGD and $0.72 to 1.00 CAD, respectively, as of December 31, 2015 . (3) Interest rates are based on our current senior unsecured debt ratings and are 110 basis points and 155 basis points over the applicable index for floating rate advances for the 5 -Year Term Loan and the 7 -Year Term Loan, respectively. (4) We have entered into interest rate swap agreements as a cash flow hedge for interest generated by the U.S. dollar, Singapore dollar, British pound sterling and Canadian dollar tranches of the unsecured term loan. See Note 14 "Derivative Instruments" for further information. (5) Balances as of March 31, 2016 and December 31, 2015 are as follows (balances, in thousands): Denomination of Draw Balance as of March 31, 2016 Weighted-average interest rate Balance as of December 31, 2015 Weighted-average interest rate U.S. dollar ($) $ 710,911 1.73 % (b) $ 410,905 1.51 % (d) British pound sterling (£) 243,366 (a) 1.61 % (b) 178,195 (c) 1.78 % Singapore dollar (SGD) 239,314 (a) 2.49 % (b) 161,070 (c) 2.16 % (d) Australian dollar (AUD) 180,935 (a) 3.20 % 75,337 (c) 3.27 % Hong Kong dollar (HKD) 86,009 (a) 1.33 % — — % Canadian dollar (CAD) 75,746 (a) 1.97 % (b) — — % Euro (€) 20,484 (a) 0.80 % 99,061 (c) 1.00 % Japanese yen (JPY) 16,611 (a) 1.04 % — — % Total $ 1,573,376 1.97 % (b) $ 924,568 1.76 % (d) (a) Based on exchange rates of $1.44 to £1.00, $0.74 to 1.00 SGD, $0.77 to 1.00 AUD, $0.13 to 1.00 HKD, $0.77 to 1.00 CAD, $1.14 to €1.00 and $0.01 to 1.00 JPY, respectively, as of March 31, 2016 . (b) As of March 31, 2016 , the weighted-average interest rate reflecting interest rate swaps was 2.39% (U.S. dollar), 1.89% (British pound sterling), 2.03% (Singapore dollar), 1.88% (Canadian dollar) and 2.23% (Total). See Note 14 "Derivative Instruments" for further discussion on interest rate swaps. (c) Based on exchange rates of $0.70 to 1.00 SGD, $1.47 to £1.00, $1.09 to €1.00 and $0.73 to 1.00 AUD, respectively, as of December 31, 2015 . (d) As of December 31, 2015 , the weighted-average interest rate reflecting interest rate swaps was 1.90% (U.S. dollar), 2.19% (Singapore dollar) and 1.94% (Total). See Note 14 "Derivative Instruments" for further discussion on interest rate swaps. (6) Based on exchange rate of $1.44 to £1.00 as of March 31, 2016 and $1.47 to £1.00 as of December 31, 2015 . (7) The respective borrower’s assets and credit are not available to satisfy the debts and other obligations of affiliates or any other person. Global Revolving Credit Facility On January 15, 2016, we refinanced our global revolving credit facility and entered into a global senior credit agreement for a $2.0 billion senior unsecured revolving credit facility, which we refer to as the 2016 global revolving credit facility, that replaced the $2.0 billion revolving credit facility executed on August 15, 2013, as amended. The 2016 global revolving credit facility has an accordion feature that would enable us to increase the borrowing capacity of the credit facility up to $2.5 billion , subject to the receipt of lender commitments and other conditions precedent. The refinanced facility matures on January 15, 2020 , with two six -month extension options available. The interest rate for borrowings under the 2016 global revolving credit facility equals the applicable index plus a margin which is based on the credit ratings of our long-term debt and is currently 100 basis points. An annual facility fee on the total commitment amount of the facility, based on the credit ratings of our long-term debt, currently 20 basis points, is payable quarterly. Funds may be drawn in U.S., Canadian, Singapore, Australian and Hong Kong dollars, as well as Euro, British pound sterling and Japanese yen. As of March 31, 2016 , interest rates are based on 1-month LIBOR, 1-month GBP LIBOR, 1-month EURIBOR, 1-month HIBOR, 1-month SOR and 1-month CDOR plus a margin of 1.00% . We have used and intend to use available borrowings under the 2016 global revolving credit facility to acquire additional properties, to fund development opportunities and for general working capital and other corporate purposes, including potentially for the repurchase, redemption or retirement of outstanding debt or equity securities. As of March 31, 2016 , we have capitalized approximately $13.9 million of financing costs related to the 2016 global revolving credit facility. As of March 31, 2016 , approximately $691.2 million was drawn under the 2016 global revolving credit facility and $10.5 million of letters of credit were issued. The 2016 global revolving credit facility contains various restrictive covenants, including limitations on our ability to incur additional indebtedness, make certain investments or merge with another company, and requirements to maintain financial coverage ratios, including with respect to unencumbered assets. In addition, the 2016 global revolving credit facility restricts Digital Realty Trust, Inc. from making distributions to its stockholders, or redeeming or otherwise repurchasing shares of its capital stock, after the occurrence and during the continuance of an event of default, except in limited circumstances including as necessary to enable Digital Realty Trust, Inc. to maintain its qualification as a REIT and to minimize the payment of income or excise tax. As of March 31, 2016 , we were in compliance with all of such covenants. Unsecured Term Loan On January 15, 2016, we refinanced our senior unsecured multi-currency term loan facility and entered into a term loan agreement, which governs (i) a $1.25 billion 5 -year senior unsecured term loan, which we refer to as the 5 -Year Term Loan, and (ii) a $300 million 7 -year senior unsecured term loan, which we refer to as the 7 -Year Term Loan. The 2016 term loan agreement replaced the $1.0 billion term loan agreement executed on April 16, 2012, as amended. The 5 -Year Term Loan matures on January 15, 2021 and the 7 -Year Term Loan matures on January 15, 2023 . In addition, we have the ability from time to time to increase the aggregate size of lending under the Term Loan Agreement from $1.55 billion up to $1.8 billion , subject to receipt of lender commitments and other conditions precedent. Interest rates are based on our senior unsecured debt ratings and are currently 110 basis points and 155 basis points over the applicable index for floating rate advances for the 5 -Year Term Loan and the 7 -Year Term Loan, respectively. Funds may be drawn in U.S., Canadian, Singapore, Australian and Hong Kong dollars, as well as Euro, British pound sterling and Japanese yen. Based on exchange rates in effect at March 31, 2016 , the balance outstanding is approximately $1.6 billion . We have used borrowings under the term loan for acquisitions, repayment of indebtedness, development, working capital and general corporate purposes. The covenants under this loan are consistent with our 2016 global revolving credit facility and, as of March 31, 2016 , we were in compliance with all of such covenants. As of March 31, 2016 , we have capitalized approximately $7.4 million of financing costs related to the unsecured term loan. The table below summarizes our debt maturities and principal payments as of March 31, 2016 (in thousands): Global Revolving Credit Facility (1) Unsecured Prudential Shelf Facility Senior Notes Mortgage Loans Total Debt Remainder of 2016 $ — $ — $ — $ — $ 138,927 $ 138,927 2017 — — 50,000 — 108,405 158,405 2018 — — — — 593 593 2019 — — — — 644 644 2020 691,161 — — 1,000,000 1,133 1,692,294 Thereafter — 1,573,376 — 2,655,200 — 4,228,576 Subtotal $ 691,161 $ 1,573,376 $ 50,000 $ 3,655,200 $ 249,702 $ 6,219,439 Unamortized discount — — — (17,118 ) — (17,118 ) Unamortized premium — — — — 404 404 Total $ 691,161 $ 1,573,376 $ 50,000 $ 3,638,082 $ 250,106 $ 6,202,725 (1) 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, as applicable.

Income per Share

Income per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Income per Share	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, 2016 2015 Net income available to common stockholders $ 39,125 $ 101,728 Weighted average shares outstanding—basic 146,565,564 135,704,525 Potentially dilutive common shares: Stock options 11,286 33,839 Unvested incentive units 122,601 147,874 Market performance-based awards 733,743 242,562 Weighted average shares outstanding—diluted 147,433,194 136,128,800 Income per share: Basic $ 0.27 $ 0.75 Diluted $ 0.27 $ 0.75 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, 2016 2015 Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc. 2,482,234 2,702,468 Potentially dilutive Series E Cumulative Redeemable Preferred Stock 3,345,087 4,392,889 Potentially dilutive Series F Cumulative Redeemable Preferred Stock 2,121,447 2,785,960 Potentially dilutive Series G Cumulative Redeemable Preferred Stock 2,900,732 3,809,345 Potentially dilutive Series H Cumulative Redeemable Preferred Stock 4,250,720 5,582,197 Potentially dilutive Series I Cumulative Redeemable Preferred Stock 2,904,126 — 18,004,346 19,272,859

Income per Unit

Income per Unit	3 Months Ended
	Mar. 31, 2016
Digital Realty Trust, L.P.
Class of Stock [Line Items]
Income per Unit	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, 2016 2015 Net income available to common unitholders $ 39,788 $ 103,754 Weighted average units outstanding—basic 149,047,798 138,406,993 Potentially dilutive common units: Stock options 11,286 33,839 Unvested incentive units 122,601 147,874 Market performance-based awards 733,743 242,562 Weighted average units outstanding—diluted 149,915,428 138,831,268 Income per unit: Basic $ 0.27 $ 0.75 Diluted $ 0.27 $ 0.75 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, 2016 2015 Potentially dilutive Series E Cumulative Redeemable Preferred Units 3,345,087 4,392,889 Potentially dilutive Series F Cumulative Redeemable Preferred Units 2,121,447 2,785,960 Potentially dilutive Series G Cumulative Redeemable Preferred Units 2,900,732 3,809,345 Potentially dilutive Series H Cumulative Redeemable Preferred Units 4,250,720 5,582,197 Potentially dilutive Series I Cumulative Redeemable Preferred Units 2,904,126 — 15,522,112 16,570,391

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	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 earnings distributed currently to its stockholders. Since inception, Digital Realty Trust, Inc. has distributed at least 100% of its taxable income annually and intends to do so for the tax year ending December 31, 2016 . As such, no provision for federal income taxes has been included in the accompanying condensed consolidated financial statements for the three months ended March 31, 2016 and 2015 . 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, 2016 and 2015 . For our TRS entities and foreign subsidiaries that are subject to U.S. federal, state 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, 2016 and 2015 . As of March 31, 2016 , we had deferred tax liabilities net of deferred tax assets of approximately $130.0 million primarily related to our foreign properties, classified in accounts payable and other accrued expenses in the consolidated balance sheet. The majority of our net deferred tax liability relates to differences between tax basis and book basis of the assets acquired in the Sentrum Portfolio acquisition during 2012. The valuation allowance at March 31, 2016 and December 31, 2015 relates primarily to certain foreign jurisdiction and Telx Acquisition net operating loss carryforwards that we do not expect to utilize, and deferred tax assets resulting from certain foreign real estate acquisition costs, which are not depreciated for tax purposes, but are deductible upon ultimate sale of the property. Given the indefinite holding period associated with these assets, realization of these deferred tax assets is not more-likely-than-not as of March 31, 2016 and December 31, 2015.

Equity And Accumulated Other Co

Equity And Accumulated Other Comprehensive Income, Net	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Equity And Accumulated Other Comprehensive Income, Net	Equity and Accumulated Other Comprehensive Income, Net (a) Equity Distribution Agreements Digital Realty Trust, Inc. entered into equity distribution agreements in June 2011, which we refer to as the 2011 Equity Distribution Agreements, with each of Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC, or the Agents, under which it can issue and sell shares of its common stock having an aggregate offering price of up to $400.0 million from time to time through, at its discretion, any of the Agents as its sales agents. The sales of common stock made under the 2011 Equity Distribution Agreements will be made in “at the market” offerings as defined in Rule 415 of the Securities Act. Cumulatively through March 31, 2016 , Digital Realty Trust, Inc. has generated net proceeds of approximately $342.7 million from the issuance of approximately 5.7 million common shares under the 2011 Equity Distribution Agreements at an average price of $60.35 per share after payment of approximately $3.5 million of commissions to the sales agents and before offering expenses. No sales were made under the program during the three months ended March 31, 2016 and 2015 . As of March 31, 2016 , shares of common stock having an aggregate offering price of $53.8 million remained available for offer and sale under the program. (b) 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 interests in the Operating Partnership as of March 31, 2016 and December 31, 2015 : March 31, 2016 December 31, 2015 Number of units Percentage of total Number of units Percentage of total Digital Realty Trust, Inc. 146,797,648 98.3 % 146,384,247 98.1 % Noncontrolling interests consist of: Common units held by third parties 1,221,314 0.8 1,421,314 1.0 Incentive units held by employees and directors (see Note 13) 1,375,236 0.9 1,412,012 0.9 149,394,198 100.0 % 149,217,573 100.0 % 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 and incentive Operating Partnership units met the criteria to be classified within equity. The redemption value of the noncontrolling Operating Partnership common units and the vested incentive units was approximately $214.2 million and $192.7 million based on the closing market price of Digital Realty Trust, Inc. common stock on March 31, 2016 and December 31, 2015 , respectively. The following table shows activity for the noncontrolling interests in the Operating Partnership for the three months ended March 31, 2016 : Common Units Incentive Units Total As of December 31, 2015 1,421,314 1,412,012 2,833,326 Redemption of common units for shares of Digital Realty Trust, Inc. common stock (1) (200,000 ) — (200,000 ) Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (1) — (52,521 ) (52,521 ) Cancellation of incentive units held by employees and directors — — — Grant of incentive units to employees and directors — 15,745 15,745 As of March 31, 2016 1,221,314 1,375,236 2,596,550 (1) This redemption was 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 condensed consolidated balance sheet of Digital Realty Trust, Inc. (c) Dividends We have declared and paid the following dividends on our common and preferred stock for the three months ended March 31, 2016 (in thousands, except per share data): Date dividend declared Dividend Series E Series F Series G Series H Series I Preferred Stock Common February 17, 2016 March 31, 2016 $ 5,031 $ 3,023 $ 3,672 $ 6,730 $ 3,969 $ 129,064 Annual rate of dividend per share $ 1.750 $ 1.656 $ 1.469 $ 1.844 $ 1.588 $ 3.520 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 2016 global revolving credit facility to fund all or a portion of distributions. (d) Accumulated Other Comprehensive Income, Net The accumulated balances for each item within other comprehensive income, net are as follows (in thousands): Foreign currency Cash flow hedge Accumulated other Balance as of December 31, 2015 $ (90,342 ) $ (6,248 ) $ (96,590 ) Net current period change (1,417 ) (7,285 ) (8,702 ) Reclassification to interest expense from interest rate swaps — 1,040 1,040 Balance as of March 31, 2016 $ (91,759 ) $ (12,493 ) $ (104,252 )

Capital And Accumulated Other C

Capital And Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2016
Partners' Capital Notes [Abstract]
Capital And Accumulated Other Comprehensive Income	Capital and Accumulated Other Comprehensive Income (a) Allocations of Net Income and Net Losses to Partners Except for special allocations to holders of profits interest units described below in Note 13 “Incentive Plan—Long-Term Incentive Units,” the Operating Partnership’s net income will generally be allocated to the General Partner (Digital Realty Trust, Inc.) 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) 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 and vested incentive Operating Partnership units met the criteria to be classified within capital. The redemption value of the limited partners’ common units and the vested incentive units was approximately $214.2 million and $192.7 million based on the closing market price of Digital Realty Trust, Inc.’s common stock on March 31, 2016 and December 31, 2015 , respectively. (c) 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, 2016 (in thousands, except for per unit data): Date distribution declared Distribution Series E Series F Series G Series H Series I Common February 17, 2016 March 31, 2016 $ 5,031 $ 3,023 $ 3,672 $ 6,730 $ 3,969 $ 131,587 Annual rate of distribution per unit $ 1.750 $ 1.656 $ 1.469 $ 1.844 $ 1.588 $ 3.520 (d) Accumulated Other Comprehensive Income The accumulated balances for each item within other comprehensive income are as follows (in thousands): Foreign currency Cash flow hedge Accumulated other Balance as of December 31, 2015 $ (93,883 ) $ (7,081 ) $ (100,964 ) Net current period change (1,441 ) (7,409 ) (8,850 ) Reclassification to interest expense from interest rate swaps — 1,058 1,058 Balance as of March 31, 2016 $ (95,324 ) $ (13,432 ) $ (108,756 )

Incentive Plan

Incentive Plan	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Incentive Plan	Incentive Plan Our Amended and Restated 2004 Incentive Award Plan (as defined below) previously provided for grants of incentive awards to employees, directors and consultants. Awards issuable under the Amended and Restated 2004 Incentive Award Plan included stock options, restricted stock, dividend equivalents, stock appreciation rights, long-term incentive units, cash performance bonuses and other incentive awards. Only employees were eligible to receive incentive stock options under the Amended and Restated 2004 Incentive Award Plan. Initially, we reserved a total of 4,474,102 shares of common stock for issuance pursuant to the Digital Realty Trust, Inc., Digital Services, Inc. and Digital Realty Trust, L.P. 2004 Incentive Award Plan (the 2004 Incentive Award Plan), subject to certain adjustments set forth in the 2004 Incentive Award Plan. On May 2, 2007, Digital Realty Trust, Inc.’s stockholders approved the First Amended and Restated Digital Realty Trust, Inc., Digital Services, Inc. and Digital Realty Trust, L.P. 2004 Incentive Award Plan (as amended, the Amended and Restated 2004 Incentive Award Plan). The Amended and Restated 2004 Incentive Award Plan increased the aggregate number of shares of stock which could have been issued or transferred under the plan by 5,000,000 shares to a total of 9,474,102 shares, and provided that the maximum number of shares of stock with respect to awards granted to any one participant during a calendar year was 1,500,000 shares and the maximum amount that could have been paid in cash during any calendar year with respect to any performance-based award not denominated in stock or otherwise for which the foregoing limitation would not be an effective limitation for purposes of Section 162(m) of the Code was $10.0 million . On April 28, 2014, Digital Realty Trust, Inc. held its 2014 Annual Meeting of Stockholders, or the 2014 Annual Meeting, at which the Company’s 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), which had been previously adopted by the Board of Directors and recommended to the stockholders for approval by the Company’s Board of Directors. The 2014 Incentive Award Plan became effective and replaced the Amended and Restated 2004 Incentive Award Plan 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 in connection with the 2014 Annual Meeting, which description is incorporated herein by reference. As of March 31, 2016 , 3,977,354 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. (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 13(a) to our consolidated financial statements for the fiscal year ended December 31, 2015 , included in our Annual Report on 10-K for the year ended December 31, 2015 , as amended. Below is a summary of our long-term incentive unit activity for the three months ended March 31, 2016 . Unvested Long-term Incentive Units Units Weighted-Average Grant Date Fair Value Unvested, beginning of period 276,669 $ 62.92 Granted 15,745 79.47 Vested (114,870 ) 60.23 Cancelled or expired — — Unvested, end of period 177,544 $ 66.12 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 over four years, the current vesting period of the long-term incentive units. The expense recorded for the three months ended March 31, 2016 and 2015 related to long-term incentive units was approximately $1.0 million and $1.3 million , respectively. We capitalized amounts relating to compensation expense of employees direct and incremental to construction and successful leasing activities of approximately $0.5 million and $0.9 million for the three months ended March 31, 2016 and 2015 , respectively. Unearned compensation representing the unvested portion of the long-term incentive units totaled $9.6 million and $9.9 million as of March 31, 2016 and December 31, 2015 , respectively. We expect to recognize this unearned compensation over the next 2.4 years on a weighted-average basis. (b) Market Performance-Based Awards During the three months ended March 31, 2016 and 2015 , the Compensation Committee of the Board of Directors of the Company 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 the Company’s common stock (collectively, the “awards”), under the Amended and Restated 2004 Incentive Award Plan and 2014 Incentive Plan, respectively, 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 2015 or January 2016, 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 the Company’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 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: Level RMS Relative Market Performance Vesting Percentage Below Threshold Level < -300 basis points 0 % Threshold Level -300 basis points 25 % Target Level 100 basis points 50 % High Level > 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. Following the completion of the Market Performance Period, the 2015 awards that have satisfied the market condition, if any, will vest 50% on February 27, 2018 and 50% on February 27, 2019, subject to continued employment through each applicable vesting date. Following the completion of the Market Performance Period, the 2016 awards that have satisfied the market condition, if any, will vest 50% on February 27, 2019 and 50% on February 27, 2020, subject to continued employment through each applicable vesting date. Service-based vesting will be accelerated, in full or on a pro rata basis, 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 Market Performance Period. However, vesting with respect to the market condition will continue to be measured based on RMS Relative Market Performance during the three-year Market Performance Period (or, in the case of a change in control, shortened Market Performance Period). The fair values of the 2015 awards and 2016 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 total shareholder return 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 2015 valuation include expected stock price volatility of 24 percent and a risk-free interest rate of 1.00 percent . Assumptions used in the 2016 valuations include expected stock price volatility of 22 percent and 26 percent and risk-free interest rates of 1.32 percent and 0.89 percent . The valuations were performed in a risk-neutral framework, so no assumption was made with respect to an equity risk premium. As of March 31, 2016 , 1,683,182 Class D Units and 457,333 market performance-based RSUs had been awarded to our executive officers and other employees. The number of units granted reflects the maximum number of Class D units or market performance-based RSUs, as applicable, which will become vested assuming the achievement of the highest level of RMS Relative Market Performance under the awards and, in the case of the Class D units, also includes dividend equivalent units. The fair value of these awards of approximately $55.3 million will be recognized as compensation expense on a straight-line basis over the expected service period of approximately four years. The unearned compensation as of March 31, 2016 and December 31, 2015 was $36.1 million and $17.8 million , respectively, net of cancellations. As of March 31, 2016 , none of the above awards had vested. We recognized compensation expense related to these awards of approximately $2.2 million and $1.2 million in the three months ended March 31, 2016 and 2015 , respectively. We capitalized amounts relating to compensation expense of employees directly engaged in construction and leasing activities of approximately $0.7 million and $0.4 million for the three months ended March 31, 2016 and 2015 , respectively. If the market conditions are not met, at the end of the applicable performance periods, the unamortized amount will be recognized as an expense at that time. (c) Stock Options The following table summarizes the Amended and Restated 2004 Incentive Award Plan’s stock option activity for the three -month period ended March 31, 2016 : Period Ended March 31, 2016 Shares Weighted average exercise price Options outstanding, beginning of period 51,622 $ 41.04 Exercised (28,345 ) 40.47 Options outstanding, end of period 23,277 $ 41.73 Exercisable, end of period 23,277 $ 41.73 The following table summarizes information about stock options outstanding and exercisable as of March 31, 2016 : Options outstanding and exercisable Exercise price Number outstanding Weighted-average remaining contractual life (years) Weighted-average exercise price Aggregate intrinsic value $ 41.73 23,277 1.09 41.73 1,088,432 (d) Restricted Stock Below is a summary of our restricted stock activity for the three months ended March 31, 2016 . Unvested Restricted Stock Shares Weighted-Average Grant Date Fair Value Unvested, beginning of period 264,995 $ 61.45 Granted 130,746 80.40 Vested (96,417 ) 61.05 Cancelled or expired (2,838 ) 65.15 Unvested, end of period 296,486 $ 65.04 The grant date fair values, which equal the market price of Digital Realty Trust, Inc. common stock on the grant date, are being expensed on a straight-line basis for service awards over the vesting period of the restricted stock, which is generally four years. The expense recorded for the three months ended March 31, 2016 and 2015 related to grants of restricted stock was approximately $0.9 million and $0.5 million , respectively. We capitalized amounts relating to compensation expense of employees direct and incremental to construction and successful leasing activities of approximately $0.8 million and $0.7 million for the three months ended March 31, 2016 and 2015 , respectively. Unearned compensation representing the unvested portion of the restricted stock totaled $19.2 million and $10.4 million as of March 31, 2016 and December 31, 2015 , respectively. We expect to recognize this unearned compensation over the next 3.2 years on a weighted-average basis.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	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, 2016 , 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, 2016 or December 31, 2015 . As of March 31, 2016 and December 31, 2015 , we had the following outstanding interest rate derivatives that were designated as effective cash flow hedges of interest rate risk (in thousands): Notional Amount Fair Value at Significant Other As of As of Type of Strike Effective Date Expiration Date As of As of Currently-paying contracts $ 206,000 (1) $ 206,000 (1) Swap 0.932 Jun 18, 2012 Apr 18, 2017 $ (777 ) $ (416 ) 54,905 (1) 54,905 (1) Swap 0.670 Aug 6, 2012 Apr 6, 2017 (56 ) 69 75,000 (1) 75,000 (1) Swap 0.500 Aug 6, 2012 Apr 6, 2016 (1 ) (10 ) 75,000 (1) — Swap 1.164 Jan 15, 2016 Jan 15, 2021 (515 ) — 300,000 (2) — Swap 1.435 Jan 15, 2016 Jan 15, 2023 (3,728 ) — 140,533 (3) 133,579 (3) Swap 0.925 Jul 17, 2012 Apr 18, 2017 360 1,500 243,366 (4) — Swap 0.792 Jan 15, 2016 Jan 15, 2019 (1,182 ) — 75,747 (5) — Swap 0.779 Jan 15, 2016 Jan 15, 2021 390 — $ 1,170,551 $ 469,484 $ (5,509 ) $ 1,143 (1) Represents portions of the U.S. dollar tranche of the 5 -Year Term Loan. (2) Represents the U.S. dollar tranche of the 7 -Year Term Loan. (3) Represents a portion of the Singapore dollar tranche of the 5 -Year Term Loan. Translation to U.S. dollars is based on exchange rate of $0.74 to 1.00 SGD as of March 31, 2016 and $0.70 to 1.00 SGD as of December 31, 2015 . (4) Represents the British pound sterling tranche of the 5 -Year Term Loan. Translation to U.S. dollars is based on exchange rate of $1.44 to £1.00 as of March 31, 2016 . (5) Represents the Canadian dollar tranche of the 5 -Year Term Loan. Translation to U.S. dollars is based on exchange rate of $0.77 to 1.00 CAD as of March 31, 2016 . As of March 31, 2016 , we estimate that an additional $5.4 million will be reclassified as an increase to interest expense during the twelve months ended March 31, 2017 , when the hedged forecasted transactions impact earnings.

Fair Value of Instruments

Fair Value of Instruments	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Of Instruments	Fair Value of 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, 2016 and December 31, 2015 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 14 "Derivative Instruments", the interest rate swaps are recorded at fair value. We calculate the fair value of our mortgage loans, unsecured term loan, unsecured senior notes and exchangeable senior debentures 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 facility approximates fair value, due to the variability of interest rates. As of March 31, 2016 and December 31, 2015 , the aggregate estimated fair value and carrying value of our global revolving credit facility, unsecured term loan, unsecured senior notes and mortgage loans were as follows (in thousands): Categorization under the fair value hierarchy As of March 31, 2016 As of December 31, 2015 Estimated Fair Value Carrying Value Estimated Fair Value Carrying Value Global revolving credit facility (1)(5) Level 2 $ 691,161 $ 691,161 $ 967,884 $ 967,884 Unsecured term loan (2)(6) Level 2 1,573,376 1,573,376 924,568 924,568 Unsecured senior notes (3)(4)(7) Level 2 3,884,254 3,688,082 3,868,979 3,738,606 Mortgage loans (3)(8) Level 2 258,534 250,106 313,717 303,183 $ 6,407,325 $ 6,202,725 $ 6,075,148 $ 5,934,241 (1) The carrying value of our global revolving credit facility 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 loan 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 mortgage loans are determined based on the expected future payments discounted at risk-adjusted rates. The 2020 Notes, 3.400% 2020 Notes, 2021 Notes, 3.950% 2022 Notes, 3.625% 2022 Notes, 2023 Notes, 4.750% 2025 Notes and 2025 Notes are valued based on quoted market prices. (4) The carrying value of the 2020 Notes, 2021 Notes, 3.400% 2020 Notes, 2021 Notes, 2022 Notes, 3.950% 2022 Notes, 2023 Notes and 2025 Notes are net of discount of $17,118 and $17,914 in the aggregate as of March 31, 2016 and December 31, 2015 , respectively. (5) The estimated fair value and carrying value are exclusive of deferred financing costs of $13.3 million and $7.6 million as of March 31, 2016 and December 31, 2015 , respectively. (6) The estimated fair value and carrying value are exclusive of deferred financing costs of $7.2 million and $1.3 million as of March 31, 2016 and December 31, 2015 , respectively. (7) The estimated fair value and carrying value are exclusive of deferred financing costs of $25.3 million and $26.0 million as of March 31, 2016 and December 31, 2015 , respectively. (8) The estimated fair value and carrying value are exclusive of deferred financing costs of $0.2 million and $0.3 million as of March 31, 2016 and December 31, 2015 , respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a) Contingent liabilities As part of the acquisition of 29A International Business Park, the seller could earn additional consideration based on future net operating income growth in excess of certain performance targets, as defined in the agreements for the acquisition. The earnout contingency expires in November 2020 . The maximum amount that could be earned by the seller is $50.0 million SGD (or approximately $37.1 million based on the exchange rate as of March 31, 2016 ). As of December 31, 2014, $12.6 million had been accrued related to this earnout agreement, which was subsequently paid in 2015. During 2015, the remaining performance targets were achieved and the Company accrued an additional $19.4 million . The remaining earnout payments will be made in 2016 and 2020 per the terms of the earnout agreement. The amounts accrued have been discounted based on their expected payment date and capitalized to building and improvements as the original purchase was accounted for as an asset acquisition. One of the tenants at our Convergence Business Park property has an option to expand as part of their lease agreement, which expires in April 2017 . As part of this option, development activities were not permitted on specifically identified expansion space within the property until April 2014. From April 2014 through April 2017, the tenant has the right of first refusal on any third party’s bona fide offer to buy the adjacent land. If the tenant exercises their option, we may either construct and lease to the tenant an additional shell building on the expansion space at a stipulated rate of return on cost or sell the existing building and the expansion space to the tenant for a price of approximately $24.0 million and $225,000 per square acre, respectively, plus additional adjustments as provided in the lease. As part of the acquisition of the Sentrum Portfolio, the seller could earn additional consideration based on future net returns on vacant space to be developed, but not currently leased, as defined in the purchase agreement for the acquisition. The initial estimate of fair value of the contingent consideration liability was approximately £56.5 million (or approximately $87.6 million based on the exchange rate as of July 11, 2012, the acquisition date). We have adjusted the contingent consideration to fair value at each reporting date with changes in fair value recognized in operating income. During the three months ended March 31, 2015 , we reduced the fair value by approximately £30.3 million (or approximately $45.9 million ). The adjustment was the result of an evaluation by management that no additional leases would be executed for vacant space by July 11, 2015, the contingency expiration date. The final payment on the earnout was made in August 2015. The change in fair value of contingent consideration for Sentrum was recorded as a reduction to operating expense of approximately $43.0 million for the three months ended March 31, 2015 . (b) Construction Commitments Our properties require periodic investments of capital for tenant-related capital expenditures and for general capital improvements. 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, 2016 , we had open commitments related to construction contracts of approximately $209.9 million . (c) Legal Proceedings Although the Company is involved in legal proceedings arising in the ordinary course of business, as of March 31, 2016 , 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.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On April 15, 2016, Digital Euro Finco, LLC, a wholly-owned indirect finance subsidiary of Digital Realty Trust, L.P., issued and sold €600.0 million aggregate principal amount of its 2.625% Guaranteed Notes due 2024, which we refer to as the 2024 Notes. The 2024 Notes are senior unsecured obligations of Digital Euro Finco, LLC and are fully and unconditionally guaranteed by Digital Realty Trust, Inc. and Digital Realty Trust, L.P. Net proceeds from the offering were approximately €594.0 million (or approximately $670.3 million based on the exchange rate as of April 15, 2016) after deducting managers’ discounts and estimated offering expenses. We have used the net proceeds from the offering of the Notes to temporarily repay borrowings under our 2016 global revolving credit facility.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	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 United States 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, 2015 , as amended. 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 a 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. 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 generates the capital required by the Company’s business through the Operating Partnership’s operations, by the Operating Partnership’s 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 Income, Net" and "Capital and Accumulated Other Comprehensive Income". 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	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.
Investment in Unconsolidated Joint Ventures	Investment in Unconsolidated Joint Ventures The Company’s investment in unconsolidated joint ventures is accounted for using the equity method, whereby the investment is increased for capital contributed and our share of the joint ventures’ net income and decreased by distributions we receive and our share of any losses of the joint ventures. We amortize the difference between the cost of our investments in unconsolidated joint ventures and the book value of the underlying equity into equity in earnings from unconsolidated affiliates on a straight-line basis consistent with the lives of the underlying assets.
Capitalization of Costs	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. Capitalized costs are allocated to the specific components of a project that are benefited.
Goodwill	Goodwill Goodwill represents the excess of the purchase price over the fair value of net tangible and intangible assets acquired in a business combination. Goodwill is not amortized. Management performs an annual impairment test for goodwill and between annual tests, management will evaluate the recoverability of goodwill whenever events or changes in circumstances indicate that the carrying value of goodwill may not be fully recoverable. In its impairment tests of goodwill, management will first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If based on this assessment, management determines that the fair value of the reporting unit is not less than its carrying value, then performing the additional two-step impairment test is unnecessary. If our qualitative assessment indicates that goodwill impairment is more likely than not, we perform a two-step impairment test. We test goodwill for impairment under the two-step impairment test by first comparing the book value of net assets to the fair value of the reporting units. If the fair value is determined to be less than the book value or qualitative factors indicate that it is more likely than not that goodwill is impaired, a second step is performed to compute the amount of impairment as the difference between the estimated fair value of goodwill and the carrying value. We estimate the fair value of the reporting units using discounted cash flows. If the carrying value of goodwill exceeds its fair value, an impairment charge is recognized.
Share Based Compensation	Share-Based Compensation The Company measures all share-based compensation awards at fair value on the date they are granted to employees, consultants and directors. The fair value of share-based compensation awards that contain a market condition, market performance-based Class D Units of the Operating Partnership and market performance-based restricted stock units (discussed in Note 13 "Incentive Plan"), is measured using a Monte Carlo simulation method and not adjusted based on actual achievement of the performance goals. We recognize compensation cost, net of forfeitures, for all of our existing awards, including long-term incentive units, market performance-based awards and restricted stock, over a four -year period.
Income Taxes	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 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 federal income tax (including any applicable alternative minimum tax) on its taxable income at regular corporate tax rates. The Company is subject to foreign, state and local income taxes in the jurisdictions in which it conducts business. The Company’s U.S. consolidated taxable REIT subsidiaries are subject to both federal and state income taxes to the extent there is taxable income. Accordingly, the Company recognizes current and deferred income taxes for its taxable REIT subsidiaries, certain states and non-U.S. 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, 2016 and December 31, 2015 , we have 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, 2016 and 2015 , we had no such interest or penalties. The tax year 2012 and thereafter remain open to examination by the major taxing jurisdictions with which the Company files tax returns.
Presentation of Transactional-Based Taxes	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.
Fee Income	Fee Income Occasionally, customers engage the company for certain services. The nature of these services historically involves property management, construction management, and assistance with financing. 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 if certain performance milestones are met. Fee income also includes management fees. These fees arise from contractual 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 entities are recognized to the extent attributable to the unaffiliated interest.
Assets and Liabilities Measured at Fair Value	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
Transactions Expense	Transactions Expense Transactions expense includes acquisition-related expenses and other business development expenses, which are expensed as incurred. Acquisition-related expenses include closing costs, broker commissions and other professional fees, including legal and accounting fees related to acquisitions and significant transactions.
Gains on Sale of Properties	Gains on Sale of Properties Gains on sale of properties are recognized using the full accrual or partial sale methods, as applicable, in accordance with U.S. GAAP, provided various criteria relating to the terms of sale and any subsequent involvement with the real estate sold are satisfied.
Management's Estimates	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 condensed 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, contingent consideration, accounts receivable and deferred rent receivable, performance-based equity compensation plans, the completeness of accrued liabilities and Digital Realty Trust, Inc.’s qualification as a REIT. 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	Segment and Geographic Information All of our properties generate similar revenues and expenses related to tenant rent and reimbursements and operating expenses. The delivery of our products is consistent across all properties and although services are provided to a wide range of customers, the types of real estate services provided to them are standardized throughout the portfolio. As such, the properties in our portfolio have similar economic characteristics and the nature of the products and services provided to our customers and the method to distribute such services are consistent throughout the portfolio. Consequently, our properties qualify for aggregation into one reporting segment.
Reclassifications	Reclassifications Certain reclassifications of prior year amounts have been made to conform to the current period presentation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2016-09, “Improvements to Employee Share-Based Payment Accounting,” which provides for simplification of certain aspects of employee share-based payment accounting including income taxes, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The standard will be effective for us in the first quarter of 2017 and will be applied either prospectively, retrospectively or using a modified retrospective transition approach depending on the area covered in this update. We are currently in the process of assessing the impact of the ASU on our consolidated financial statements and disclosures. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Accounting for leases with a term of 12 months or less will be similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. ASU 2016-02 is expected to impact the Company’s consolidated financial statements as the Company has certain operating and land lease arrangements for which it is the lessee. ASU 2016-02 supersedes the previous leases standard, Leases (Topic 840). The standard is effective on January 1, 2019, with early adoption permitted. The Company is currently in the process of evaluating the impact the adoption of ASU 2016-02 will have on the Company’s financial position or results of operations. In April 2015, the FASB voted to defer the effective date of ASU No. 2014-09, which outlines a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers and notes that lease contracts with customers are a scope exception. Public business entities are required to adopt this standard for annual reporting periods beginning after December 15, 2017, early adoption is permitted. We are currently assessing the impact of the guidance on our consolidated financial statements. In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2015-03, “Interest - Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs” (ASU 2015-03). ASU 2015-03 amended the then-current presentation guidance by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 was effective for the Company beginning with the quarter ended March 31, 2016. The adoption of this standard required restatement of our consolidated balance sheet as of December 31, 2015. As a result, Deferred financing costs, net decreased by $35.2 million and Global unsecured revolving credit facility, Unsecured term loan, Unsecured senior notes and Mortgage loans decreased by $7.6 million , $1.3 million , $26.0 million and $0.3 million , respectively, versus amounts previously reported. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis, which provides guidance on the consolidation evaluation for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. In accordance with the guidance, all legal entities are subject to reevaluation under the revised consolidation model. ASU 2015-02 was effective for the Company beginning with the quarter ended March 31, 2016 and the adoption of the standard did not have a significant impact on our consolidated financial statements.

Investments in Real Estate (Tab

Investments in Real Estate (Tables)	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Disposal Groups, Including Discontinued Operations	We sold the following real estate property during the three months ended March 31, 2016 : Location Metropolitan Area Date Sold Gross Proceeds (in millions) Gain on Sale (in millions) 47700 Kato Road and 1055 Page Avenue Silicon Valley January 21, 2016 $ 37.5 $ 1.0

Investment in Unconsolidated 29

Investment in Unconsolidated Joint Ventures (Tables)	3 Months Ended
	Mar. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Summary of Financial Information for Joint Ventures	The following tables present summarized financial information for our material joint ventures as of March 31, 2016 and December 31, 2015 and for the three months ended March 31, 2016 and 2015 (unaudited, in thousands): As of March 31, 2016 Three Months Ended March 31, 2016 2016 Net Investment in Properties Total Assets Debt Total Liabilities Equity Revenues Property Operating Expense Net Operating Income Net Income Total Unconsolidated Joint Ventures $ 752,641 $ 929,309 $ 459,622 $ 556,685 $ 372,624 $ 33,080 $ (9,652 ) $ 23,428 $ 9,618 Our investment in and share of equity in earnings of unconsolidated joint ventures $ 106,008 $ 4,078 As of December 31, 2015 Three Months Ended March 31, 2015 2015 Net Investment in Properties Total Assets Debt Total Liabilities Equity Revenues Property Operating Expense Net Operating Income Net Income Total Unconsolidated Joint Ventures $ 758,582 $ 935,990 $ 460,023 $ 558,310 $ 377,679 $ 31,850 $ (8,175 ) $ 23,675 $ 10,026 Our investment in and share of equity in earnings of unconsolidated joint ventures $ 106,107 $ 4,618

Acquired Intangible Assets an30

Acquired Intangible Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Acquired Intangible Assets And Liabilities [Abstract]
Summary of Acquired Intangible Assets	The following summarizes our acquired intangible assets (real estate intangibles, comprised of acquired in-place lease value, tenant relationship value and trade name along with acquired above-market lease value) and intangible liabilities (acquired below-market lease value) as of March 31, 2016 and December 31, 2015 . Balance as of (Amounts in thousands) March 31, 2016 December 31, 2015 Real Estate Intangibles: Acquired in-place lease value: Gross amount $ 900,132 $ 901,381 Accumulated amortization (486,743 ) (472,933 ) Net $ 413,389 $ 428,448 Tenant relationship value: Gross amount $ 734,800 $ 734,800 Accumulated amortization (30,354 ) (14,495 ) Net $ 704,446 $ 720,305 Trade name: Gross amount $ 7,300 $ 7,300 Accumulated amortization (873 ) (417 ) Net $ 6,427 $ 6,883 Acquired above-market leases: Gross amount $ 121,455 $ 122,311 Accumulated amortization (91,348 ) (89,613 ) Net $ 30,107 $ 32,698 Acquired below-market leases: Gross amount $ 294,682 $ 294,791 Accumulated amortization (198,207 ) (193,677 ) Net $ 96,475 $ 101,114
Schedule of Estimated Annual Amortization of Below Market Leases	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, 2016 is as follows: (Amounts in thousands) Remainder of 2016 $ 6,135 2017 6,947 2018 5,299 2019 5,338 2020 7,349 Thereafter 35,300 Total $ 66,368
Schedule of Estimated Annual Amortization of Acquired of Intangible Assets	Estimated annual amortization of customer contracts and trade names for each of the five succeeding years and thereafter, commencing April 1, 2016 is as follows: (Amounts in thousands) Remainder of 2016 $ 48,946 2017 65,261 2018 65,261 2019 64,844 2020 63,436 Thereafter 403,125 Total $ 710,873 Estimated annual amortization of acquired in-place lease value for each of the five succeeding years and thereafter, commencing April 1, 2016 is as follows: (Amounts in thousands) Remainder of 2016 $ 39,423 2017 48,675 2018 46,469 2019 43,990 2020 39,951 Thereafter 194,881 Total $ 413,389

Debt of the Operating Partner31

Debt of the Operating Partnership (Tables) - Digital Realty Trust, L.P.	3 Months Ended
	Mar. 31, 2016
Debt Instrument [Line Items]
Summary of Outstanding Indebtedness of the Operating Partnership	Balances as of March 31, 2016 and December 31, 2015 are as follows (balances, in thousands): Denomination of Draw Balance as of March 31, 2016 Weighted-average interest rate Balance as of December 31, 2015 Weighted-average interest rate Floating Rate Borrowing (a) U.S. dollar ($) $ 220,000 1.44 % $ 274,000 1.46 % British pound sterling (£) 15,796 (b) 1.51 % 95,784 (c) 1.61 % Euro (€) 432,440 (b) 0.69 % 280,565 (c) 0.90 % Australian dollar (AUD) — — % 96,831 (c) 3.16 % Hong Kong dollar (HKD) 902 (b) 1.25 % 86,082 (c) 1.33 % Japanese yen (JPY) — — % 14,304 (c) 1.15 % Singapore dollar (SGD) 20,023 (b) 2.08 % 49,132 (c) 1.92 % Canadian dollar (CAD) 2,000 (b) 1.87 % 71,186 (c) 1.95 % Total $ 691,161 0.99 % $ 967,884 1.53 % (a) The interest rates for floating rate borrowings under the 2016 global revolving credit facility equal the applicable index plus a margin of 100 basis points, which is based on the credit ratings of our long-term debt. (b) Based on exchange rates of $1.44 to £1.00, $1.14 to €1.00, $0.13 to 1.00 HKD, $0.74 to 1.00 SGD and $0.77 to 1.00 CAD, respectively, as of March 31, 2016 . (c) Based on exchange rates of $1.47 to £1.00, $1.09 to €1.00, $0.73 to 1.00 AUD, $0.13 to 1.00 HKD, $0.01 to 1.00 JPY, $0.7 to 1.00 SGD and $0.72 to 1.00 CAD, respectively, as of December 31, 2015 . (3) Interest rates are based on our current senior unsecured debt ratings and are 110 basis points and 155 basis points over the applicable index for floating rate advances for the 5 -Year Term Loan and the 7 -Year Term Loan, respectively. (4) We have entered into interest rate swap agreements as a cash flow hedge for interest generated by the U.S. dollar, Singapore dollar, British pound sterling and Canadian dollar tranches of the unsecured term loan. See Note 14 "Derivative Instruments" for further information. (5) Balances as of March 31, 2016 and December 31, 2015 are as follows (balances, in thousands): Denomination of Draw Balance as of March 31, 2016 Weighted-average interest rate Balance as of December 31, 2015 Weighted-average interest rate U.S. dollar ($) $ 710,911 1.73 % (b) $ 410,905 1.51 % (d) British pound sterling (£) 243,366 (a) 1.61 % (b) 178,195 (c) 1.78 % Singapore dollar (SGD) 239,314 (a) 2.49 % (b) 161,070 (c) 2.16 % (d) Australian dollar (AUD) 180,935 (a) 3.20 % 75,337 (c) 3.27 % Hong Kong dollar (HKD) 86,009 (a) 1.33 % — — % Canadian dollar (CAD) 75,746 (a) 1.97 % (b) — — % Euro (€) 20,484 (a) 0.80 % 99,061 (c) 1.00 % Japanese yen (JPY) 16,611 (a) 1.04 % — — % Total $ 1,573,376 1.97 % (b) $ 924,568 1.76 % (d) (a) Based on exchange rates of $1.44 to £1.00, $0.74 to 1.00 SGD, $0.77 to 1.00 AUD, $0.13 to 1.00 HKD, $0.77 to 1.00 CAD, $1.14 to €1.00 and $0.01 to 1.00 JPY, respectively, as of March 31, 2016 . (b) As of March 31, 2016 , the weighted-average interest rate reflecting interest rate swaps was 2.39% (U.S. dollar), 1.89% (British pound sterling), 2.03% (Singapore dollar), 1.88% (Canadian dollar) and 2.23% (Total). See Note 14 "Derivative Instruments" for further discussion on interest rate swaps. (c) Based on exchange rates of $0.70 to 1.00 SGD, $1.47 to £1.00, $1.09 to €1.00 and $0.73 to 1.00 AUD, respectively, as of December 31, 2015 . (d) As of December 31, 2015 , the weighted-average interest rate reflecting interest rate swaps was 1.90% (U.S. dollar), 2.19% (Singapore dollar) and 1.94% (Total). See Note 14 "Derivative Instruments" for further discussion on interest rate swaps. (6) Based on exchange rate of $1.44 to £1.00 as of March 31, 2016 and $1.47 to £1.00 as of December 31, 2015 . (7) The respective borrower’s assets and credit are not available to satisfy the debts and other obligations of affiliates or any other person.
Schedule of Debt Maturities and Principal Maturities	The table below summarizes our debt maturities and principal payments as of March 31, 2016 (in thousands): Global Revolving Credit Facility (1) Unsecured Prudential Shelf Facility Senior Notes Mortgage Loans Total Debt Remainder of 2016 $ — $ — $ — $ — $ 138,927 $ 138,927 2017 — — 50,000 — 108,405 158,405 2018 — — — — 593 593 2019 — — — — 644 644 2020 691,161 — — 1,000,000 1,133 1,692,294 Thereafter — 1,573,376 — 2,655,200 — 4,228,576 Subtotal $ 691,161 $ 1,573,376 $ 50,000 $ 3,655,200 $ 249,702 $ 6,219,439 Unamortized discount — — — (17,118 ) — (17,118 ) Unamortized premium — — — — 404 404 Total $ 691,161 $ 1,573,376 $ 50,000 $ 3,638,082 $ 250,106 $ 6,202,725 (1) 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, as applicable.

Income per Share (Tables)

Income per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
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, 2016 2015 Net income available to common stockholders $ 39,125 $ 101,728 Weighted average shares outstanding—basic 146,565,564 135,704,525 Potentially dilutive common shares: Stock options 11,286 33,839 Unvested incentive units 122,601 147,874 Market performance-based awards 733,743 242,562 Weighted average shares outstanding—diluted 147,433,194 136,128,800 Income per share: Basic $ 0.27 $ 0.75 Diluted $ 0.27 $ 0.75
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, 2016 2015 Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc. 2,482,234 2,702,468 Potentially dilutive Series E Cumulative Redeemable Preferred Stock 3,345,087 4,392,889 Potentially dilutive Series F Cumulative Redeemable Preferred Stock 2,121,447 2,785,960 Potentially dilutive Series G Cumulative Redeemable Preferred Stock 2,900,732 3,809,345 Potentially dilutive Series H Cumulative Redeemable Preferred Stock 4,250,720 5,582,197 Potentially dilutive Series I Cumulative Redeemable Preferred Stock 2,904,126 — 18,004,346 19,272,859

Income per Unit (Tables)

Income per Unit (Tables)	3 Months Ended
	Mar. 31, 2016
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, 2016 2015 Net income available to common stockholders $ 39,125 $ 101,728 Weighted average shares outstanding—basic 146,565,564 135,704,525 Potentially dilutive common shares: Stock options 11,286 33,839 Unvested incentive units 122,601 147,874 Market performance-based awards 733,743 242,562 Weighted average shares outstanding—diluted 147,433,194 136,128,800 Income per share: Basic $ 0.27 $ 0.75 Diluted $ 0.27 $ 0.75
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, 2016 2015 Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc. 2,482,234 2,702,468 Potentially dilutive Series E Cumulative Redeemable Preferred Stock 3,345,087 4,392,889 Potentially dilutive Series F Cumulative Redeemable Preferred Stock 2,121,447 2,785,960 Potentially dilutive Series G Cumulative Redeemable Preferred Stock 2,900,732 3,809,345 Potentially dilutive Series H Cumulative Redeemable Preferred Stock 4,250,720 5,582,197 Potentially dilutive Series I Cumulative Redeemable Preferred Stock 2,904,126 — 18,004,346 19,272,859
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, 2016 2015 Net income available to common unitholders $ 39,788 $ 103,754 Weighted average units outstanding—basic 149,047,798 138,406,993 Potentially dilutive common units: Stock options 11,286 33,839 Unvested incentive units 122,601 147,874 Market performance-based awards 733,743 242,562 Weighted average units outstanding—diluted 149,915,428 138,831,268 Income per unit: Basic $ 0.27 $ 0.75 Diluted $ 0.27 $ 0.75
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, 2016 2015 Potentially dilutive Series E Cumulative Redeemable Preferred Units 3,345,087 4,392,889 Potentially dilutive Series F Cumulative Redeemable Preferred Units 2,121,447 2,785,960 Potentially dilutive Series G Cumulative Redeemable Preferred Units 2,900,732 3,809,345 Potentially dilutive Series H Cumulative Redeemable Preferred Units 4,250,720 5,582,197 Potentially dilutive Series I Cumulative Redeemable Preferred Units 2,904,126 — 15,522,112 16,570,391

Equity and Accumulated Other 34

Equity and Accumulated Other Comprehensive Income, Net (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Ownership Interest In The Operating Partnership	The following table shows the ownership interests in the Operating Partnership as of March 31, 2016 and December 31, 2015 : March 31, 2016 December 31, 2015 Number of units Percentage of total Number of units Percentage of total Digital Realty Trust, Inc. 146,797,648 98.3 % 146,384,247 98.1 % Noncontrolling interests consist of: Common units held by third parties 1,221,314 0.8 1,421,314 1.0 Incentive units held by employees and directors (see Note 13) 1,375,236 0.9 1,412,012 0.9 149,394,198 100.0 % 149,217,573 100.0 %
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, 2016 : Common Units Incentive Units Total As of December 31, 2015 1,421,314 1,412,012 2,833,326 Redemption of common units for shares of Digital Realty Trust, Inc. common stock (1) (200,000 ) — (200,000 ) Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (1) — (52,521 ) (52,521 ) Cancellation of incentive units held by employees and directors — — — Grant of incentive units to employees and directors — 15,745 15,745 As of March 31, 2016 1,221,314 1,375,236 2,596,550 (1) This redemption was 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 condensed consolidated balance sheet of Digital Realty Trust, Inc.
Schedule Of Dividends/Distributions	We have declared and paid the following dividends on our common and preferred stock for the three months ended March 31, 2016 (in thousands, except per share data): Date dividend declared Dividend Series E Series F Series G Series H Series I Preferred Stock Common February 17, 2016 March 31, 2016 $ 5,031 $ 3,023 $ 3,672 $ 6,730 $ 3,969 $ 129,064 Annual rate of dividend per share $ 1.750 $ 1.656 $ 1.469 $ 1.844 $ 1.588 $ 3.520
Schedule Of Accumulated Other Comprehensive Income, Net	The accumulated balances for each item within other comprehensive income, net are as follows (in thousands): Foreign currency Cash flow hedge Accumulated other Balance as of December 31, 2015 $ (90,342 ) $ (6,248 ) $ (96,590 ) Net current period change (1,417 ) (7,285 ) (8,702 ) Reclassification to interest expense from interest rate swaps — 1,040 1,040 Balance as of March 31, 2016 $ (91,759 ) $ (12,493 ) $ (104,252 )

Capital And Accumulated Other35

Capital And Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2016
Class of Stock [Line Items]
Schedule Of Dividends/Distributions	We have declared and paid the following dividends on our common and preferred stock for the three months ended March 31, 2016 (in thousands, except per share data): Date dividend declared Dividend Series E Series F Series G Series H Series I Preferred Stock Common February 17, 2016 March 31, 2016 $ 5,031 $ 3,023 $ 3,672 $ 6,730 $ 3,969 $ 129,064 Annual rate of dividend per share $ 1.750 $ 1.656 $ 1.469 $ 1.844 $ 1.588 $ 3.520
Schedule Of Accumulated Other Comprehensive Income, Net	The accumulated balances for each item within other comprehensive income, net are as follows (in thousands): Foreign currency Cash flow hedge Accumulated other Balance as of December 31, 2015 $ (90,342 ) $ (6,248 ) $ (96,590 ) Net current period change (1,417 ) (7,285 ) (8,702 ) Reclassification to interest expense from interest rate swaps — 1,040 1,040 Balance as of March 31, 2016 $ (91,759 ) $ (12,493 ) $ (104,252 )
Digital Realty Trust, L.P.
Class of Stock [Line Items]
Schedule Of Dividends/Distributions	The Operating Partnership has declared and paid the following distributions on its common and preferred units for the three months ended March 31, 2016 (in thousands, except for per unit data): Date distribution declared Distribution Series E Series F Series G Series H Series I Common February 17, 2016 March 31, 2016 $ 5,031 $ 3,023 $ 3,672 $ 6,730 $ 3,969 $ 131,587 Annual rate of distribution per unit $ 1.750 $ 1.656 $ 1.469 $ 1.844 $ 1.588 $ 3.520
Schedule Of Accumulated Other Comprehensive Income, Net	The accumulated balances for each item within other comprehensive income are as follows (in thousands): Foreign currency Cash flow hedge Accumulated other Balance as of December 31, 2015 $ (93,883 ) $ (7,081 ) $ (100,964 ) Net current period change (1,441 ) (7,409 ) (8,850 ) Reclassification to interest expense from interest rate swaps — 1,058 1,058 Balance as of March 31, 2016 $ (95,324 ) $ (13,432 ) $ (108,756 )

Incentive Plan (Tables)

Incentive Plan (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
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, 2016 . Unvested Long-term Incentive Units Units Weighted-Average Grant Date Fair Value Unvested, beginning of period 276,669 $ 62.92 Granted 15,745 79.47 Vested (114,870 ) 60.23 Cancelled or expired — — Unvested, end of period 177,544 $ 66.12
Market Performance Based Awards	In the event that the RMS Relative Market Performance during the 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: Level RMS Relative Market Performance Vesting Percentage Below Threshold Level < -300 basis points 0 % Threshold Level -300 basis points 25 % Target Level 100 basis points 50 % High Level > 500 basis points 100 %
Summary Of Incentive Award Plan's Stock Option	The following table summarizes the Amended and Restated 2004 Incentive Award Plan’s stock option activity for the three -month period ended March 31, 2016 : Period Ended March 31, 2016 Shares Weighted average exercise price Options outstanding, beginning of period 51,622 $ 41.04 Exercised (28,345 ) 40.47 Options outstanding, end of period 23,277 $ 41.73 Exercisable, end of period 23,277 $ 41.73
Summary Of Stock Options Outstanding And Exercisable	The following table summarizes information about stock options outstanding and exercisable as of March 31, 2016 : Options outstanding and exercisable Exercise price Number outstanding Weighted-average remaining contractual life (years) Weighted-average exercise price Aggregate intrinsic value $ 41.73 23,277 1.09 41.73 1,088,432
Summary Of Restricted Stock Activity	Below is a summary of our restricted stock activity for the three months ended March 31, 2016 . Unvested Restricted Stock Shares Weighted-Average Grant Date Fair Value Unvested, beginning of period 264,995 $ 61.45 Granted 130,746 80.40 Vested (96,417 ) 61.05 Cancelled or expired (2,838 ) 65.15 Unvested, end of period 296,486 $ 65.04

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Derivative Instruments	As of March 31, 2016 and December 31, 2015 , we had the following outstanding interest rate derivatives that were designated as effective cash flow hedges of interest rate risk (in thousands): Notional Amount Fair Value at Significant Other As of As of Type of Strike Effective Date Expiration Date As of As of Currently-paying contracts $ 206,000 (1) $ 206,000 (1) Swap 0.932 Jun 18, 2012 Apr 18, 2017 $ (777 ) $ (416 ) 54,905 (1) 54,905 (1) Swap 0.670 Aug 6, 2012 Apr 6, 2017 (56 ) 69 75,000 (1) 75,000 (1) Swap 0.500 Aug 6, 2012 Apr 6, 2016 (1 ) (10 ) 75,000 (1) — Swap 1.164 Jan 15, 2016 Jan 15, 2021 (515 ) — 300,000 (2) — Swap 1.435 Jan 15, 2016 Jan 15, 2023 (3,728 ) — 140,533 (3) 133,579 (3) Swap 0.925 Jul 17, 2012 Apr 18, 2017 360 1,500 243,366 (4) — Swap 0.792 Jan 15, 2016 Jan 15, 2019 (1,182 ) — 75,747 (5) — Swap 0.779 Jan 15, 2016 Jan 15, 2021 390 — $ 1,170,551 $ 469,484 $ (5,509 ) $ 1,143 (1) Represents portions of the U.S. dollar tranche of the 5 -Year Term Loan. (2) Represents the U.S. dollar tranche of the 7 -Year Term Loan. (3) Represents a portion of the Singapore dollar tranche of the 5 -Year Term Loan. Translation to U.S. dollars is based on exchange rate of $0.74 to 1.00 SGD as of March 31, 2016 and $0.70 to 1.00 SGD as of December 31, 2015 . (4) Represents the British pound sterling tranche of the 5 -Year Term Loan. Translation to U.S. dollars is based on exchange rate of $1.44 to £1.00 as of March 31, 2016 . (5) Represents the Canadian dollar tranche of the 5 -Year Term Loan. Translation to U.S. dollars is based on exchange rate of $0.77 to 1.00 CAD as of March 31, 2016 .

Fair Value of Instruments (Tabl

Fair Value of Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Estimated Fair Value And Carrying Amounts	As of March 31, 2016 and December 31, 2015 , the aggregate estimated fair value and carrying value of our global revolving credit facility, unsecured term loan, unsecured senior notes and mortgage loans were as follows (in thousands): Categorization under the fair value hierarchy As of March 31, 2016 As of December 31, 2015 Estimated Fair Value Carrying Value Estimated Fair Value Carrying Value Global revolving credit facility (1)(5) Level 2 $ 691,161 $ 691,161 $ 967,884 $ 967,884 Unsecured term loan (2)(6) Level 2 1,573,376 1,573,376 924,568 924,568 Unsecured senior notes (3)(4)(7) Level 2 3,884,254 3,688,082 3,868,979 3,738,606 Mortgage loans (3)(8) Level 2 258,534 250,106 313,717 303,183 $ 6,407,325 $ 6,202,725 $ 6,075,148 $ 5,934,241 (1) The carrying value of our global revolving credit facility 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 loan 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 mortgage loans are determined based on the expected future payments discounted at risk-adjusted rates. The 2020 Notes, 3.400% 2020 Notes, 2021 Notes, 3.950% 2022 Notes, 3.625% 2022 Notes, 2023 Notes, 4.750% 2025 Notes and 2025 Notes are valued based on quoted market prices. (4) The carrying value of the 2020 Notes, 2021 Notes, 3.400% 2020 Notes, 2021 Notes, 2022 Notes, 3.950% 2022 Notes, 2023 Notes and 2025 Notes are net of discount of $17,118 and $17,914 in the aggregate as of March 31, 2016 and December 31, 2015 , respectively. (5) The estimated fair value and carrying value are exclusive of deferred financing costs of $13.3 million and $7.6 million as of March 31, 2016 and December 31, 2015 , respectively. (6) The estimated fair value and carrying value are exclusive of deferred financing costs of $7.2 million and $1.3 million as of March 31, 2016 and December 31, 2015 , respectively. (7) The estimated fair value and carrying value are exclusive of deferred financing costs of $25.3 million and $26.0 million as of March 31, 2016 and December 31, 2015 , respectively. (8) The estimated fair value and carrying value are exclusive of deferred financing costs of $0.2 million and $0.3 million as of March 31, 2016 and December 31, 2015 , respectively.

Organization and Description 39

Organization and Description of Business (Narrative) (Details)	Mar. 31, 2016property
Organization and Description of Business [Line Items]
Number of properties	140
Common Interest
Organization and Description of Business [Line Items]
Ownership percentage in the Operating Partnership	98.30%
Preferred Interest
Organization and Description of Business [Line Items]
Ownership percentage in the Operating Partnership	100.00%
North America
Organization and Description of Business [Line Items]
Number of properties	109
Europe
Organization and Description of Business [Line Items]
Number of properties	24
Australia
Organization and Description of Business [Line Items]
Number of properties	3
Asia
Organization and Description of Business [Line Items]
Number of properties	4
Telx
Organization and Description of Business [Line Items]
Number of properties	8
Wholly Owned Properties
Organization and Description of Business [Line Items]
Number of properties	2
Leased Properties
Organization and Description of Business [Line Items]
Number of properties	6
Unconsolidated Properties
Organization and Description of Business [Line Items]
Number of properties	14

Summary of Significant Accoun40

Summary of Significant Accounting Policies (Narrative) (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)segment	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Summary Of Significant Accounting Policies [Line Items]
Period in which short-term investment become cash equivalents (in days)	90 days
Interest capitalized	$ 3,800,000	$ 4,300,000
Compensation costs, leasing and construction activities	16,700,000	12,300,000
Cash flows from capitalized leasing costs	10,400,000	13,700,000
Goodwill	$ 330,664,000		$ 330,664,000
Award vesting period	4 years
Unrecognized tax benefits	$ 0		0
Income tax penalties and interest expense	$ 0	0
Number of reportable segments | segment	1
Total operating revenues	$ 504,199,000	406,609,000
Rental property operating and maintenance	154,169,000	124,563,000
Restatement Adjustment
Summary Of Significant Accounting Policies [Line Items]
Rental property operating and maintenance		$ (1,400,000)
Global revolving credit facility
Summary Of Significant Accounting Policies [Line Items]
Deferred financing costs	13,300,000		7,600,000
Unsecured term loan
Summary Of Significant Accounting Policies [Line Items]
Deferred financing costs	$ 7,200,000		$ 1,300,000
Sales
Summary Of Significant Accounting Policies [Line Items]
Concentration risk (as a percent)	10.20%	12.30%
Long-Lived Assets
Summary Of Significant Accounting Policies [Line Items]
Concentration risk (as a percent)	18.10%		18.80%
Outside The United States
Summary Of Significant Accounting Policies [Line Items]
Total operating revenues	$ 97,900,000	$ 92,000,000
Long-lived assets	2,700,000,000		$ 2,600,000,000
United States
Summary Of Significant Accounting Policies [Line Items]
Total operating revenues	406,300,000	314,700,000
Long-lived assets	6,100,000,000		6,000,000,000
United Kingdom
Summary Of Significant Accounting Policies [Line Items]
Total operating revenues	51,600,000	$ 50,000,000
Long-lived assets	1,600,000,000		$ 1,600,000,000
Deferred Financing Costs, Net | Accounting Standards Update 2015-03
Summary Of Significant Accounting Policies [Line Items]
Deferred financing costs	(35,200,000)
Long-Term Line of Credit | Global revolving credit facility | Accounting Standards Update 2015-03
Summary Of Significant Accounting Policies [Line Items]
Deferred financing costs	7,600,000
Long-Term Line of Credit | Unsecured term loan | Accounting Standards Update 2015-03
Summary Of Significant Accounting Policies [Line Items]
Deferred financing costs	1,300,000
Unsecured Debt | Accounting Standards Update 2015-03
Summary Of Significant Accounting Policies [Line Items]
Deferred financing costs	26,000,000
Secured Debt | Accounting Standards Update 2015-03
Summary Of Significant Accounting Policies [Line Items]
Deferred financing costs	$ 300,000

Investments in Real Estate (Det

Investments in Real Estate (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016USD ($)property	Dec. 31, 2014USD ($)property	Dec. 31, 2015USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of investments in real estate		$ 126,500
Number of properties | property	140
Assets	$ 11,421,975		$ 11,416,063
Liabilities	$ 6,976,765		$ 6,879,561
Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties | property	7
Assets	$ 145,100
Liabilities	$ 5,000
Midwest and Northeast Regions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties | property	5	5
Midwest and Northeast Regions | Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties | property	3
Capital Recycling Strategy | Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties | property	4
47700 Kato Road and 1055 Page Avenue
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross Proceeds	$ 37,500
Gain on Sale	$ 1,000

Investment in Unconsolidated 42

Investment in Unconsolidated Joint Ventures (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)propertyjoint_venture	Mar. 31, 2015USD ($)
Schedule of Equity Method Investments [Line Items]
Number of properties	140
Amortization expense, present value of future insurance profits | $	$ (0.1)	$ 0.1
2001 Sixth Avenue
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures	50.00%
Number of joint ventures | joint_venture	3
33 Chun Choi Street (Hong Kong)
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures	20.00%
Prudential
Schedule of Equity Method Investments [Line Items]
Number of joint ventures | joint_venture	2
Number of properties	10
43915 Devin Shafron Drive
Schedule of Equity Method Investments [Line Items]
Number of properties	1

Investment in Unconsolidated 43

Investment in Unconsolidated Joint Ventures (Summary Of Financial Information For Joint Ventures) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
Net Investment in Properties	$ 752,641		$ 758,582
Total Assets	929,309		935,990
Debt	459,622		460,023
Total Liabilities	556,685		558,310
Equity	372,624		377,679
Our investment in and share of equity in earnings of unconsolidated joint ventures	106,008		$ 106,107
Revenues	33,080	$ 31,850
Property Operating Expense	(9,652)	(8,175)
Net Operating Income	23,428	23,675
Net Income	9,618	10,026
Investment in and share of net income (loss)	$ 4,078	$ 4,618

Acquired Intangible Assets an44

Acquired Intangible Assets and Liabilities (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Amortization of below market leases	$ 2,300	$ 2,300
Expected average remaining lives of acquired below market leases (in years)	7 years
Amortization of intangible assets	$ 41,841	17,379
Acquired above-market leases
Finite-Lived Intangible Assets [Line Items]
Expected average remaining lives (in years)	4 years 4 months 24 days
Acquired in-place lease value
Finite-Lived Intangible Assets [Line Items]
Expected average remaining lives (in years)	8 years 2 months 12 days
Amortization of intangible assets	$ 13,700	$ 11,600
Weighted average remaining contractual life for acquired leases excluding renewals or extensions (in years)	7 years 7 months 6 days
Tenant relationship value
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 15,900
Weighted average remaining contractual life for acquired leases excluding renewals or extensions (in years)	11 years 1 month 6 days
Trade name
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 500
Weighted average remaining contractual life for acquired leases excluding renewals or extensions (in years)	3 years 6 months

Acquired Intangible Assets an45

Acquired Intangible Assets and Liabilities (Summary of Acquired Intangible Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Below-market lease, gross amount	$ 294,682	$ 294,791
Below-market lease, accumulated amortization	(198,207)	(193,677)
Total	96,475	101,114
Acquired in-place lease value
Finite-Lived Intangible Assets [Line Items]
Gross amount	900,132	901,381
Accumulated amortization	(486,743)	(472,933)
Net	413,389	428,448
Tenant relationship value
Finite-Lived Intangible Assets [Line Items]
Gross amount	734,800	734,800
Accumulated amortization	(30,354)	(14,495)
Net	704,446	720,305
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross amount	7,300	7,300
Accumulated amortization	(873)	(417)
Net	6,427	6,883
Acquired above-market leases
Finite-Lived Intangible Assets [Line Items]
Gross amount	121,455	122,311
Accumulated amortization	(91,348)	(89,613)
Net	$ 30,107	$ 32,698

Acquired Intangible Assets an46

Acquired Intangible Assets and Liabilities (Schedule of Estimated Annual Amortization of Below Market Leases) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Total	$ 96,475	$ 101,114
Below-Market Leases, Net of Above-Market Leases
Finite-Lived Intangible Assets [Line Items]
Remainder of 2016	6,135
2,017	6,947
2,018	5,299
2,019	5,338
2,020	7,349
Thereafter	35,300
Total	$ 66,368

Acquired Intangible Assets An47

Acquired Intangible Assets And Liabilities (Schedule of Estimated Annual Amortization of Intangible Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Acquired in-place lease value
Finite-Lived Intangible Assets [Line Items]
Remainder of 2016	$ 39,423
2,017	48,675
2,018	46,469
2,019	43,990
2,020	39,951
Thereafter	194,881
Net	413,389	$ 428,448
Customer contracts and trade names
Finite-Lived Intangible Assets [Line Items]
Remainder of 2016	48,946
2,017	65,261
2,018	65,261
2,019	64,844
2,020	63,436
Thereafter	403,125
Net	$ 710,873

Debt of the Company (Details)

Debt of the Company (Details) - Senior Notes	Mar. 31, 2016
5.875% notes due 2020
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.875%
3.400% notes due 2020
Debt Instrument [Line Items]
Stated interest rate (as a percent)	3.40%
5.250% notes due 2021
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.25%
3.950% notes due 2022
Debt Instrument [Line Items]
Stated interest rate (as a percent)	3.95%
3.625% notes due 2022
Debt Instrument [Line Items]
Stated interest rate (as a percent)	3.625%
4.750% notes due 2025
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.75%
4.750% notes due 2023
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.75%
4.250% notes due 2025
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.25%

Debt of the Operating Partner49

Debt of the Operating Partnership (Summary of Outstanding Indebtedness) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)extension$ / SGD$ / €$ / ¥$ / £$ / CAD$ / AUD$ / HKD	Dec. 31, 2015USD ($)$ / SGD$ / €$ / ¥$ / £$ / CAD$ / AUD$ / HKD
Global revolving credit facility
Debt Instrument [Line Items]
Deferred financing costs	$ (13,300)	$ (7,600)
Unsecured term loan
Debt Instrument [Line Items]
Deferred financing costs	(7,200)	(1,300)
Senior Notes
Debt Instrument [Line Items]
Deferred financing costs	$ (25,300)	(26,000)
Senior Notes | 5.875% notes due 2020
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.875%
Senior Notes | 5.250% notes due 2021
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.25%
Senior Notes | 3.950% notes due 2022
Debt Instrument [Line Items]
Stated interest rate (as a percent)	3.95%
Senior Notes | 3.625% notes due 2022
Debt Instrument [Line Items]
Stated interest rate (as a percent)	3.625%
Senior Notes | 4.750% notes due 2023
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.75%
Senior Notes | 4.250% notes due 2025
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.25%
Senior Notes | 4.750% notes due 2025
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.75%
Mortgage Loans
Debt Instrument [Line Items]
Deferred financing costs	$ (200)	(300)
Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Long-term debt, gross	6,219,439
Unamortized discounts	(17,118)
Unamortized net premiums	404
Long-term debt, net of discount (premium)	6,202,725
Total indebtedness	6,156,730	5,899,037
Digital Realty Trust, L.P. | Global revolving credit facility
Debt Instrument [Line Items]
Long-term debt, gross	691,161	967,884
Unamortized discounts	0
Unamortized net premiums	0
Long-term debt, net of discount (premium)	691,161
Deferred financing costs	(13,292)	(7,613)
Total indebtedness	$ 677,869	960,271
Interest rate basis spread	1.00%
Commitment fee percentage	0.20%
Number of extension options | extension	2
Debt instrument, extension term	6 months
Digital Realty Trust, L.P. | Global revolving credit facility | Floating Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 691,161	$ 967,884
Weighted-average interest rate	0.99%	1.53%
Digital Realty Trust, L.P. | Global revolving credit facility | U.S. dollar ($) | Floating Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 220,000	$ 274,000
Weighted-average interest rate	1.44%	1.46%
Digital Realty Trust, L.P. | Global revolving credit facility | British pound sterling (£)
Debt Instrument [Line Items]
Exchange rate | $ / £	1.44	1.47
Digital Realty Trust, L.P. | Global revolving credit facility | British pound sterling (£) | Floating Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 15,796	$ 95,784
Weighted-average interest rate	1.51%	1.61%
Digital Realty Trust, L.P. | Global revolving credit facility | Euro (€)
Debt Instrument [Line Items]
Exchange rate | $ / €	1.14	1.09
Digital Realty Trust, L.P. | Global revolving credit facility | Euro (€) | Floating Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 432,440	$ 280,565
Weighted-average interest rate	0.69%	0.90%
Digital Realty Trust, L.P. | Global revolving credit facility | Australian dollar (AUD)
Debt Instrument [Line Items]
Exchange rate | $ / AUD		0.73
Digital Realty Trust, L.P. | Global revolving credit facility | Australian dollar (AUD) | Floating Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	$ 96,831
Weighted-average interest rate	0.00%	3.16%
Digital Realty Trust, L.P. | Global revolving credit facility | Hong Kong dollar (HKD)
Debt Instrument [Line Items]
Exchange rate | $ / HKD		0.13
Digital Realty Trust, L.P. | Global revolving credit facility | Hong Kong dollar (HKD) | Floating Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 902	$ 86,082
Weighted-average interest rate	1.25%	1.33%
Digital Realty Trust, L.P. | Global revolving credit facility | Japanese yen (JPY)
Debt Instrument [Line Items]
Exchange rate | $ / ¥		0.01
Digital Realty Trust, L.P. | Global revolving credit facility | Japanese yen (JPY) | Floating Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	$ 14,304
Weighted-average interest rate	0.00%	1.15%
Digital Realty Trust, L.P. | Global revolving credit facility | Singapore dollar (SGD)
Debt Instrument [Line Items]
Exchange rate | $ / SGD	0.74	0.7
Digital Realty Trust, L.P. | Global revolving credit facility | Singapore dollar (SGD) | Floating Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 20,023	$ 49,132
Weighted-average interest rate	2.08%	1.92%
Digital Realty Trust, L.P. | Global revolving credit facility | Canadian dollar (CAD)
Debt Instrument [Line Items]
Exchange rate | $ / CAD		0.72
Digital Realty Trust, L.P. | Global revolving credit facility | Canadian dollar (CAD) | Floating Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 2,000	$ 71,186
Weighted-average interest rate	1.87%	1.95%
Digital Realty Trust, L.P. | Unsecured term loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,573,376	$ 924,568
Unamortized discounts	0
Unamortized net premiums	0
Long-term debt, net of discount (premium)	1,573,376
Deferred financing costs	(7,191)	(1,301)
Total indebtedness	$ 1,566,185	$ 923,267
Number of extension options | extension	2
Weighted-average interest rate	1.97%	1.76%
Digital Realty Trust, L.P. | Unsecured term loan | Interest Rate Swap
Debt Instrument [Line Items]
Weighted-average interest rate	2.23%	1.94%
Digital Realty Trust, L.P. | Unsecured term loan | U.S. dollar ($)
Debt Instrument [Line Items]
Long-term debt, gross	$ 710,911	$ 410,905
Weighted-average interest rate	1.73%	1.51%
Digital Realty Trust, L.P. | Unsecured term loan | U.S. dollar ($) | Interest Rate Swap
Debt Instrument [Line Items]
Weighted-average interest rate	2.39%	1.90%
Digital Realty Trust, L.P. | Unsecured term loan | British pound sterling (£)
Debt Instrument [Line Items]
Long-term debt, gross	$ 243,366	$ 178,195
Weighted-average interest rate	1.61%	1.78%
Exchange rate | $ / £	1.44	1.47
Digital Realty Trust, L.P. | Unsecured term loan | British pound sterling (£) | Interest Rate Swap
Debt Instrument [Line Items]
Weighted-average interest rate	1.89%
Digital Realty Trust, L.P. | Unsecured term loan | Euro (€)
Debt Instrument [Line Items]
Long-term debt, gross	$ 20,484	$ 99,061
Weighted-average interest rate	0.80%	1.00%
Exchange rate | $ / €	1.14	1.09
Digital Realty Trust, L.P. | Unsecured term loan | Australian dollar (AUD)
Debt Instrument [Line Items]
Long-term debt, gross	$ 180,935	$ 75,337
Weighted-average interest rate	3.20%	3.27%
Exchange rate | $ / AUD	0.77	0.73
Digital Realty Trust, L.P. | Unsecured term loan | Hong Kong dollar (HKD)
Debt Instrument [Line Items]
Long-term debt, gross	$ 86,009	$ 0
Weighted-average interest rate	1.33%	0.00%
Exchange rate | $ / HKD	0.13
Digital Realty Trust, L.P. | Unsecured term loan | Japanese yen (JPY)
Debt Instrument [Line Items]
Long-term debt, gross	$ 16,611	$ 0
Weighted-average interest rate	1.04%	0.00%
Exchange rate | $ / ¥	0.01
Digital Realty Trust, L.P. | Unsecured term loan | Singapore dollar (SGD)
Debt Instrument [Line Items]
Long-term debt, gross	$ 239,314	$ 161,070
Weighted-average interest rate	2.49%	2.16%
Exchange rate | $ / SGD	0.74	0.70
Digital Realty Trust, L.P. | Unsecured term loan | Singapore dollar (SGD) | Interest Rate Swap
Debt Instrument [Line Items]
Weighted-average interest rate	2.03%	2.19%
Digital Realty Trust, L.P. | Unsecured term loan | Canadian dollar (CAD)
Debt Instrument [Line Items]
Long-term debt, gross	$ 75,746	$ 0
Weighted-average interest rate	1.97%	0.00%
Exchange rate | $ / CAD	0.77
Digital Realty Trust, L.P. | Unsecured term loan | Canadian dollar (CAD) | Interest Rate Swap
Debt Instrument [Line Items]
Weighted-average interest rate	1.88%
Digital Realty Trust, L.P. | Unsecured term loan | Unsecured term loan — 5-year
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,273,376	$ 924,568
Interest rate basis spread	1.10%
Debt instrument, term	5 years
Digital Realty Trust, L.P. | Unsecured term loan | Unsecured term loan — 7-year
Debt Instrument [Line Items]
Long-term debt, gross	$ 300,000	0
Interest rate basis spread	1.55%
Debt instrument, term	7 years
Digital Realty Trust, L.P. | Prudential Shelf Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 50,000	75,000
Unamortized discounts	0
Unamortized net premiums	0
Long-term debt, net of discount (premium)	$ 50,000
Digital Realty Trust, L.P. | Prudential Shelf Facility | Series C
Debt Instrument [Line Items]
Stated interest rate (as a percent)	9.68%
Long-term debt, gross	$ 0	25,000
Digital Realty Trust, L.P. | Prudential Shelf Facility | Series E
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.73%
Long-term debt, gross	$ 50,000	50,000
Digital Realty Trust, L.P. | Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	3,655,200
Unamortized discounts	(17,118)	(17,914)
Unamortized net premiums	0
Long-term debt, net of discount (premium)	3,638,082	3,663,606
Deferred financing costs	(25,329)	(26,037)
Total indebtedness	$ 3,662,753	$ 3,712,569
Digital Realty Trust, L.P. | Senior Notes | British pound sterling (£)
Debt Instrument [Line Items]
Exchange rate | $ / £	1.44	1.47
Digital Realty Trust, L.P. | Senior Notes | 5.875% notes due 2020
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.875%
Long-term debt, gross	$ 500,000	$ 500,000
Digital Realty Trust, L.P. | Senior Notes | 3.400% notes due 2020
Debt Instrument [Line Items]
Stated interest rate (as a percent)	3.40%
Long-term debt, gross	$ 500,000	500,000
Digital Realty Trust, L.P. | Senior Notes | 5.250% notes due 2021
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.25%
Long-term debt, gross	$ 400,000	400,000
Digital Realty Trust, L.P. | Senior Notes | 3.950% notes due 2022
Debt Instrument [Line Items]
Stated interest rate (as a percent)	3.95%
Long-term debt, gross	$ 500,000	500,000
Digital Realty Trust, L.P. | Senior Notes | 3.625% notes due 2022
Debt Instrument [Line Items]
Stated interest rate (as a percent)	3.625%
Long-term debt, gross	$ 300,000	300,000
Digital Realty Trust, L.P. | Senior Notes | 4.750% notes due 2023
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.75%
Long-term debt, gross	$ 430,800	442,080
Digital Realty Trust, L.P. | Senior Notes | 4.250% notes due 2025
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.25%
Long-term debt, gross	$ 574,400	589,440
Digital Realty Trust, L.P. | Senior Notes | 4.750% notes due 2025
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.75%
Long-term debt, gross	$ 450,000	450,000
Digital Realty Trust, L.P. | Mortgage Loans
Debt Instrument [Line Items]
Long-term debt, gross	249,702
Unamortized discounts	0
Unamortized net premiums	404	439
Long-term debt, net of discount (premium)	250,106	303,183
Deferred financing costs	(183)	(253)
Total indebtedness	249,923	302,930
Digital Realty Trust, L.P. | Mortgage Loans | 2045 & 2055 Lafayette Street
Debt Instrument [Line Items]
Long-term debt, gross	$ 61,143	61,437
Effective interest rate (as a percent)	5.93%
Digital Realty Trust, L.P. | Mortgage Loans | 34551 Ardenwood Boulevard 1-4
Debt Instrument [Line Items]
Long-term debt, gross	$ 50,251	50,477
Effective interest rate (as a percent)	5.95%
Digital Realty Trust, L.P. | Mortgage Loans | 1100 Space Park Drive
Debt Instrument [Line Items]
Long-term debt, gross	$ 50,195	50,423
Effective interest rate (as a percent)	5.89%
Digital Realty Trust, L.P. | Mortgage Loans | 600 West Seventh Street
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	46,000
Effective interest rate (as a percent)	5.80%
Digital Realty Trust, L.P. | Mortgage Loans | 150 South First Street
Debt Instrument [Line Items]
Long-term debt, gross	$ 48,266	48,484
Effective interest rate (as a percent)	6.30%
Digital Realty Trust, L.P. | Mortgage Loans | 2334 Lundy Place
Debt Instrument [Line Items]
Long-term debt, gross	$ 36,549	36,714
Effective interest rate (as a percent)	5.96%
Digital Realty Trust, L.P. | Mortgage Loans | 8025 North Interstate 35
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	5,789
Effective interest rate (as a percent)	4.09%
Digital Realty Trust, L.P. | Mortgage Loans | 731 East Trade Street
Debt Instrument [Line Items]
Long-term debt, gross	$ 3,298	$ 3,420
Effective interest rate (as a percent)	8.22%

Debt of the Operating Partner50

Debt of the Operating Partnership (Global Revolving Credit Facility) (Narrative) (Details) - Digital Realty Trust, L.P.	3 Months Ended
	Mar. 31, 2016USD ($)extension	Jan. 15, 2016USD ($)	Dec. 31, 2015USD ($)	Aug. 15, 2013USD ($)
Debt Instrument [Line Items]
Long-term debt, gross	$ 6,219,439,000
Global revolving credit facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 2,000,000,000
Number of extension options | extension	2
Revolving credit facility commitments extension	6 months
Interest rate basis spread	1.00%
Commitment fee percentage	0.20%
Capitalized financing costs related to global revolving facilities	$ 13,900,000
Long-term debt, gross	691,161,000		$ 967,884,000
Letter of credit security amount	$ 10,500,000
Global revolving credit facility | Accordian Feature
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity				$ 2,500,000,000

Debt of the Operating Partner51

Debt of the Operating Partnership (Unsecured Term Loan) (Narrative) (Details) - USD ($)	Jan. 15, 2016	Mar. 31, 2016	Dec. 31, 2015	Apr. 16, 2012
Unsecured term loan — 5-year
Debt Instrument [Line Items]
Debt instrument, term	5 years	5 years
Unsecured term loan — 5-year | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 1,250,000,000
Debt instrument, term	5 years
Unsecured term loan — 7-year | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 300,000,000
Debt instrument, term	7 years	7 years
Unsecured term loan
Debt Instrument [Line Items]
Line of credit			$ 923,267,000
Unsecured term loan | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 1,550,000,000		$ 1,000,000,000
Credit facility, maximum borrowing capacity, subject to receipt of lender commitments and other conditions		1,800,000,000
Line of credit		1,566,185,000	$ 923,267,000
Capitalized financing costs		$ 7,400,000
Unsecured term loan — 7-year | Unsecured term loan | Digital Realty Trust, L.P.
Debt Instrument [Line Items]
Debt instrument, term		7 years
Interest rate basis spread		1.55%

Debt of the Operating Partner52

Debt of the Operating Partnership (Schedule of Debt Maturities And Principal Maturities) (Details) - Digital Realty Trust, L.P. $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)extension	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Remainder of 2015	$ 138,927
2,016	158,405
2,017	593
2,018	644
2,019	1,692,294
Thereafter	4,228,576
Subtotal	6,219,439
Unamortized discounts	(17,118)
Unamortized net premiums	404
Long-term debt, net of discount (premium)	6,202,725
Global revolving credit facility
Debt Instrument [Line Items]
Remainder of 2015	0
2,016	0
2,017	0
2,018	0
2,019	691,161
Thereafter	0
Subtotal	691,161	$ 967,884
Unamortized discounts	0
Unamortized net premiums	0
Long-term debt, net of discount (premium)	$ 691,161
Number of extension options | extension	2
Revolving credit facility commitments extension	6 months
Unsecured term loan
Debt Instrument [Line Items]
Remainder of 2015	$ 0
2,016	0
2,017	0
2,018	0
2,019	0
Thereafter	1,573,376
Subtotal	1,573,376	924,568
Unamortized discounts	0
Unamortized net premiums	0
Long-term debt, net of discount (premium)	$ 1,573,376
Number of extension options | extension	2
Prudential Shelf Facility
Debt Instrument [Line Items]
Remainder of 2015	$ 0
2,016	50,000
2,017	0
2,018	0
2,019	0
Thereafter	0
Subtotal	50,000	75,000
Unamortized discounts	0
Unamortized net premiums	0
Long-term debt, net of discount (premium)	50,000
Senior Notes
Debt Instrument [Line Items]
Remainder of 2015	0
2,016	0
2,017	0
2,018	0
2,019	1,000,000
Thereafter	2,655,200
Subtotal	3,655,200
Unamortized discounts	(17,118)	(17,914)
Unamortized net premiums	0
Long-term debt, net of discount (premium)	3,638,082	3,663,606
Mortgage Loans
Debt Instrument [Line Items]
Remainder of 2015	138,927
2,016	108,405
2,017	593
2,018	644
2,019	1,133
Thereafter	0
Subtotal	249,702
Unamortized discounts	0
Unamortized net premiums	404	439
Long-term debt, net of discount (premium)	$ 250,106	$ 303,183

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, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Net income available to common stockholders	$ 39,125	$ 101,728
Weighted average shares/units outstanding-basic (shares)	146,565,564	135,704,525
Potentially dilutive common units:
Stock options (shares)	11,286	33,839
Unvested incentive units (shares)	122,601	147,874
2014 market performance-based awards (shares)	733,743	242,562
Weighted average shares/units outstanding-diluted (shares)	147,433,194	136,128,800
Income per share:
Basic ($ per share/unit)	$ 0.27	$ 0.75
Diluted ($ per share/unit)	$ 0.27	$ 0.75

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, 2016	Mar. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	18,004,346	19,272,859
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)	2,482,234	2,702,468
Series E Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	3,345,087	4,392,889
Series F Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	2,121,447	2,785,960
Series G Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	2,900,732	3,809,345
Series H Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	4,250,720	5,582,197
Series I Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	2,904,126	0

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, 2016	Mar. 31, 2015
Class of Stock [Line Items]
Net income available to common unitholders	$ 39,125	$ 101,728
Weighted average shares/units outstanding-basic (shares)	146,565,564	135,704,525
Potentially dilutive common units:
Stock options (units)	11,286	33,839
Unvested incentive units (units)	122,601	147,874
2014 market performance-based awards (units)	733,743	242,562
Weighted average shares/units outstanding-diluted (shares)	147,433,194	136,128,800
Income per share:
Basic ($ per share/unit)	$ 0.27	$ 0.75
Diluted ($ per share/unit)	$ 0.27	$ 0.75
Digital Realty Trust, L.P.
Class of Stock [Line Items]
Net income available to common unitholders	$ 39,788	$ 103,754
Weighted average shares/units outstanding-basic (shares)	149,047,798	138,406,993
Potentially dilutive common units:
Stock options (units)	11,286	33,839
Unvested incentive units (units)	122,601	147,874
2014 market performance-based awards (units)	733,743	242,562
Weighted average shares/units outstanding-diluted (shares)	149,915,428	138,831,268
Income per share:
Basic ($ per share/unit)	$ 0.27	$ 0.75
Diluted ($ per share/unit)	$ 0.27	$ 0.75

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, 2016	Mar. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	18,004,346	19,272,859
Series E Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	3,345,087	4,392,889
Series F Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	2,121,447	2,785,960
Series G Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	2,900,732	3,809,345
Series H Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	4,250,720	5,582,197
Series I Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	2,904,126	0
Digital Realty Trust, L.P.
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	15,522,112	16,570,391
Digital Realty Trust, L.P. | Series E Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	3,345,087	4,392,889
Digital Realty Trust, L.P. | Series F Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	2,121,447	2,785,960
Digital Realty Trust, L.P. | Series G Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	2,900,732	3,809,345
Digital Realty Trust, L.P. | Series H Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	4,250,720	5,582,197
Digital Realty Trust, L.P. | Series I Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	2,904,126	0

Income Taxes (Details)

Income Taxes (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Income Tax Disclosure [Abstract]
Income distributed (as a percent) (more than)	100.00%
Net deferred tax liability	$ 130

Equity and Accumulated Other 58

Equity and Accumulated Other Comprehensive Income, Net (Equity Distribution Agreements) (Narrative) (Details) $ / shares in Units, shares in Millions	3 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)	Jun. 30, 2011USD ($)
Equity [Abstract]
Aggregate offering price of the distribution agreement maximum			$ 400,000,000
Net proceeds from sale of common stock	$ 342,700,000
Issuance of common shares (shares) | shares	5.7
Equity distribution agreements at an average price ($ per share) | $ / shares	$ 60.35
Payment of commissions to sales agents	$ 3,500,000
Aggregate offering price remaining available for offer and sale	53,800,000
Common stock conversion ratio		1
Redemption value of OP units	$ 214,200,000	$ 192,700,000

Equity and Accumulated Other 59

Equity and Accumulated Other Comprehensive Income, Net (Ownership Interest In The Operating Partnership) (Details) - shares	Mar. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Partners' capital account units	146,797,648	146,384,247
Percentage of total	98.30%	98.10%
Common units held by third parties
Class of Stock [Line Items]
Common units held by third parties	1,221,314	1,421,314
Percentage of total	0.80%	1.00%
Incentive Units Held By Employees And Directors
Class of Stock [Line Items]
Incentive units held by employees and directors	1,375,236	1,412,012
Percentage of total	0.90%	0.90%
Noncontrolling Interests in Operating Partnership
Class of Stock [Line Items]
Partners' capital account units	149,394,198	149,217,573
Percentage of total	100.00%	100.00%

Equity and Accumulated Other 60

Equity and Accumulated Other Comprehensive Income, Net (Summary Of Activity For Noncontrolling Interests In The Operating Partnership) (Details)	3 Months Ended
	Mar. 31, 2016shares
Common and Incentive Unit Activity [Roll Forward]
Beginning balance	2,833,326
Redemption of common units for shares of Digital Realty Trust, Inc. common stock	(200,000)
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock	(52,521)
Cancellation of incentive units held by employees and directors	0
Grant of incentive units to employees and directors	15,745
Ending balance	2,596,550
Common Units
Common and Incentive Unit Activity [Roll Forward]
Beginning balance	1,421,314
Redemption of common units for shares of Digital Realty Trust, Inc. common stock	(200,000)
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock	0
Cancellation of incentive units held by employees and directors	0
Grant of incentive units to employees and directors	0
Ending balance	1,221,314
Incentive Units
Common and Incentive Unit Activity [Roll Forward]
Beginning balance	1,412,012
Redemption of common units for shares of Digital Realty Trust, Inc. common stock	0
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock	(52,521)
Cancellation of incentive units held by employees and directors	0
Grant of incentive units to employees and directors	15,745
Ending balance	1,375,236

Equity and Accumulated Other 61

Equity and Accumulated Other Comprehensive Income, Net (Schedule Of Dividends/Distributions) (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)$ / shares
February 17, 2016
Dividends Payable [Line Items]
Date dividend/distribution declared	Feb. 17, 2016
Dividend/Distribution payment date	Mar. 31, 2016
Series E Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount | $ / shares	$ 1.750
Series E Preferred Units | February 17, 2016
Dividends Payable [Line Items]
Dividends/Distributions, preferred stock | $	$ 5,031
Series F Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount | $ / shares	$ 1.656
Series F Preferred Units | February 17, 2016
Dividends Payable [Line Items]
Dividends/Distributions, preferred stock | $	$ 3,023
Series G Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount | $ / shares	$ 1.469
Series G Preferred Units | February 17, 2016
Dividends Payable [Line Items]
Dividends/Distributions, preferred stock | $	$ 3,672
Series H Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount | $ / shares	$ 1.844
Series H Preferred Units | February 17, 2016
Dividends Payable [Line Items]
Dividends/Distributions, preferred stock | $	$ 6,730
Series I Preferred Stock
Dividends Payable [Line Items]
Preferred stock dividend per share amount | $ / shares	$ 1.588
Series I Preferred Stock | February 17, 2016
Dividends Payable [Line Items]
Dividends/Distributions, preferred stock | $	$ 3,969
Common Stock
Dividends Payable [Line Items]
Common stock dividend per share amount | $ / shares	$ 3.520
Common Stock | February 17, 2016
Dividends Payable [Line Items]
Dividends/Distributions, common units | $	$ 129,064

Equity and Accumulated Other 62

Equity and Accumulated Other Comprehensive Income, Net (Schedule Of Accumulated Other Comprehensive Loss, Net) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance as of December 31, 2015	$ 4,536,502
Net current period change	(8,702)
Reclassification to interest expense from interest rate swaps	1,040
Balance as of March 31, 2016	4,445,210
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance as of December 31, 2015	(90,342)
Net current period change	(1,417)
Reclassification to interest expense from interest rate swaps	0
Balance as of March 31, 2016	(91,759)
Cash flow hedge adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance as of December 31, 2015	(6,248)
Net current period change	(7,285)
Reclassification to interest expense from interest rate swaps	1,040
Balance as of March 31, 2016	(12,493)
Accumulated other comprehensive income (loss), net
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance as of December 31, 2015	(96,590)
Balance as of March 31, 2016	$ (104,252)

Capital And Accumulated Other63

Capital And Accumulated Other Comprehensive Income (Partnership Units) (Narrative) (Details) $ in Millions	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Class of Stock [Line Items]
Common stock conversion ratio		1
Redemption value of common units	$ 214.2	$ 192.7
Digital Realty Trust, L.P.
Class of Stock [Line Items]
Common stock conversion ratio		1

Capital And Accumulated Other64

Capital And Accumulated Other Comprehensive Income (Schedule Of Dividends/Distributions) (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)$ / shares
Series E Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount | $ / shares	$ 1.750
Series F Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount | $ / shares	1.656
Series G Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount | $ / shares	1.469
Series H Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount | $ / shares	1.844
Series I Preferred Stock
Dividends Payable [Line Items]
Preferred stock dividend per share amount | $ / shares	$ 1.588
February 17, 2016
Dividends Payable [Line Items]
Date dividend/distribution declared	Feb. 17, 2016
Dividend/Distribution payment date	Mar. 31, 2016
February 17, 2016 | Series E Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units | $	$ 5,031
February 17, 2016 | Series F Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units | $	3,023
February 17, 2016 | Series G Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units | $	3,672
February 17, 2016 | Series H Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units | $	6,730
February 17, 2016 | Series I Preferred Stock
Dividends Payable [Line Items]
Dividends/Distributions, preferred units | $	$ 3,969
Digital Realty Trust, L.P. | February 17, 2016
Dividends Payable [Line Items]
Date dividend/distribution declared	Feb. 17, 2016
Dividend/Distribution payment date	Mar. 31, 2016
Digital Realty Trust, L.P. | February 17, 2016 | Series E Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units | $	$ 5,031
Digital Realty Trust, L.P. | February 17, 2016 | Series F Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units | $	3,023
Digital Realty Trust, L.P. | February 17, 2016 | Series G Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units | $	3,672
Digital Realty Trust, L.P. | February 17, 2016 | Series H Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units | $	6,730
Digital Realty Trust, L.P. | February 17, 2016 | Series I Preferred Stock
Dividends Payable [Line Items]
Dividends/Distributions, preferred units | $	3,969
Digital Realty Trust, L.P. | February 17, 2016 | Common Units
Dividends Payable [Line Items]
Dividends/Distributions, common stock/units | $	$ 131,587
Digital Realty Trust, L.P. | Annual rate | Series E Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount | $ / shares	$ 1.750
Digital Realty Trust, L.P. | Annual rate | Series F Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount | $ / shares	1.656
Digital Realty Trust, L.P. | Annual rate | Series G Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount | $ / shares	1.469
Digital Realty Trust, L.P. | Annual rate | Series H Preferred Units
Dividends Payable [Line Items]
Preferred stock dividend per share amount | $ / shares	1.844
Digital Realty Trust, L.P. | Annual rate | Series I Preferred Stock
Dividends Payable [Line Items]
Preferred stock dividend per share amount | $ / shares	1.588
Digital Realty Trust, L.P. | Annual rate | Common Units
Dividends Payable [Line Items]
Common stock dividend per share amount | $ / shares	$ 3.520

Capital And Accumulated Other65

Capital And Accumulated Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income (Loss)) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Net current period change	$ (8,702)
Reclassification to interest expense from interest rate swaps	1,040
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Net current period change	(1,417)
Reclassification to interest expense from interest rate swaps	0
Cash flow hedge adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Net current period change	(7,285)
Reclassification to interest expense from interest rate swaps	1,040
Digital Realty Trust, L.P.
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance as of December 31, 2015	4,535,137
Net current period change	(8,850)
Reclassification to interest expense from interest rate swaps	1,058
Balance as of March 31, 2016	4,443,845
Digital Realty Trust, L.P. | Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance as of December 31, 2015	(93,883)
Net current period change	(1,441)
Reclassification to interest expense from interest rate swaps	0
Balance as of March 31, 2016	(95,324)
Digital Realty Trust, L.P. | Cash flow hedge adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance as of December 31, 2015	(7,081)
Net current period change	(7,409)
Reclassification to interest expense from interest rate swaps	1,058
Balance as of March 31, 2016	(13,432)
Digital Realty Trust, L.P. | Accumulated other comprehensive income (loss), net
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance as of December 31, 2015	(100,964)
Balance as of March 31, 2016	$ (108,756)

Incentive Plan (Narrative) (Det

Incentive Plan (Narrative) (Details) $ in Millions	May. 02, 2007USD ($)shares	Mar. 31, 2016shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares granted per employee	1,500,000
Maximum amount of cash paid per employee | $	$ 10
2004 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized and reserved for issuance under the "Incentive Plan"		4,474,102
Amended And Restated 2004 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized and reserved for issuance under the "Incentive Plan"	9,474,102
Increase in number of shares reserved for issuance	5,000,000
2014 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares remaining for issuance under the "Incentive Plan"		3,977,354
Conversion of units to shares ratio		1

Incentive Plan (Summary Of Long

Incentive Plan (Summary Of Long-Term Incentive Units) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Weighted-Average Grant Date Fair Value
Award vesting period	4 years
Long-Term Incentive Units
Units
Unvested beginning of period (shares)	276,669
Granted (shares)	15,745
Vested (shares)	(114,870)
Cancelled or expired (shares)	0
Unvested end of period (shares)	177,544
Weighted-Average Grant Date Fair Value
Unvested beginning of period ($ per share)	$ 62.92
Granted ($ per share)	79.47
Vested ($ per share)	60.23
Cancelled or expired ($ per share)	0
Unvested end of period ($ per share)	$ 66.12
Award vesting period	4 years
Share/unit compensation expense	$ 1	$ 1.3
Capitalized expense related to construction and leasing activities	0.5	$ 0.9
Unearned compensation	$ 9.6		$ 9.9
Unearned compensation, period of recognition (in years)	887 days

Incentive Plan (Market Performa

Incentive Plan (Market Performance Based Awards) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)simulationshares	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Market Performance-Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3 years
Number of trials | simulation	100,000
Fair value of awards	$ 55.3
Award requisite service period	4 years
Unearned compensation	$ 36.1		$ 17.8
Recognized compensation expense	2.2	$ 1.2
Capitalized expense related to construction and leasing activities	$ 0.7	$ 0.4
Market Performance-Based Awards | 2015 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3 years
Expected volatility rate	24.00%
Risk-free interest rate	1.00%
Market Performance-Based Awards | 2015 Performance Grant | Threshold Level
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Threshold	(3.00%)
Market Performance Vesting Percentage	0.00%
Market Performance-Based Awards | 2015 Performance Grant | Target Level
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Threshold	(3.00%)
Market Performance Vesting Percentage	25.00%
Market Performance-Based Awards | 2015 Performance Grant | High Level
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Threshold	1.00%
Market Performance Vesting Percentage	50.00%
Market Performance-Based Awards | 2015 Performance Grant | Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Threshold	5.00%
Market Performance Vesting Percentage	100.00%
Market Performance-Based Awards | 2016 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3 years
Market Performance-Based Awards | 2016 Performance Grant | Threshold Level
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Threshold	(3.00%)
Market Performance Vesting Percentage	0.00%
Market Performance-Based Awards | 2016 Performance Grant | Target Level
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Threshold	(3.00%)
Market Performance Vesting Percentage	25.00%
Market Performance-Based Awards | 2016 Performance Grant | High Level
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Threshold	1.00%
Market Performance Vesting Percentage	50.00%
Market Performance-Based Awards | 2016 Performance Grant | Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Threshold	5.00%
Market Performance Vesting Percentage	100.00%
Market Performance-Based Awards | 2016 Performance Grant | Tranche Fifth
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Market Performance Vesting Percentage	50.00%
Market Performance-Based Awards | 2016 Performance Grant | Tranche Six
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Market Performance Vesting Percentage	50.00%
Market Performance-Based Awards | Minimum | 2016 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility rate	22.00%
Risk-free interest rate	1.32%
Market Performance-Based Awards | Maximum | 2016 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility rate	26.00%
Risk-free interest rate	0.89%
Class D Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares) | shares	1,683,182
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares) | shares	457,333

Incentive Plan (Summary Of Ince

Incentive Plan (Summary Of Incentive Award Plan's Stock Option) (Details)	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Shares
Options outstanding, end of period (shares) | shares	51,622
Exercised (shares) | shares	(28,345)
Options outstanding, end of period (shares) | shares	23,277
Exercisable, end of period (shares) | shares	23,277
Weighted average exercise price
Options outstanding, beginning of period ($ per share) | $ / shares	$ 41.04
Exercised ($ per share) | $ / shares	40.47
Options outstanding, end of period ($ per share) | $ / shares	41.73
Exercisable, end of period ($ per share) | $ / shares	$ 41.73

Incentive Plan (Summary Of Stoc

Incentive Plan (Summary Of Stock Options Outstanding And Exercisable) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Exercise price range, lower ($ per share)	$ 41.73
Exercise price range, upper ($ per share)	$ 41.73
Number outstanding (shares)	23,277	51,622
Weighted-average remaining contractual life (years)	1 year 1 month 2 days
Weighted average exercise price, Outstanding ($ per share)	$ 41.73
Aggregate intrinsic value	$ 1,088,432

Incentive Plan (Summary Of Rest

Incentive Plan (Summary Of Restricted Stock Activity) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Weighted-Average Grant Date Fair Value
Award vesting period	4 years
Restricted Stock
Units
Unvested beginning of period (shares)	264,995
Granted (shares)	130,746
Vested (shares)	(96,417)
Cancelled or expired (shares)	(2,838)
Unvested end of period (shares)	296,486
Weighted-Average Grant Date Fair Value
Unvested beginning of period ($ per share)	$ 61.45
Granted ($ per share)	80.40
Vested ($ per share)	61.05
Cancelled or expired ($ per share)	65.15
Unvested end of period ($ per share)	$ 65.04
Restricted stock expense	$ 0.9	$ 0.5
Capitalized expense related to construction and leasing activities	0.8	$ 0.7
Unearned compensation	$ 19.2		$ 10.4
Unearned compensation, period of recognition (in years)	1163 days
Restricted Stock | Maximum
Weighted-Average Grant Date Fair Value
Award vesting period	4 years

Derivative Instruments (Details

Derivative Instruments (Details) $ in Thousands	Jan. 15, 2016	Mar. 31, 2016USD ($)$ / SGD$ / £$ / CAD	Dec. 31, 2015USD ($)$ / SGD$ / £
Derivative [Line Items]
Gain (loss) to be reclassified within twelve months		$ (5,400)
Unsecured term loan — 5-year
Derivative [Line Items]
Debt instrument, term	5 years	5 years
Unsecured term loan — 5-year | Digital Realty Trust, L.P.
Derivative [Line Items]
Debt instrument, term	5 years
Unsecured term loan | Digital Realty Trust, L.P. | Singapore dollar (SGD)
Derivative [Line Items]
Exchange rate | $ / SGD		0.74	0.70
Unsecured term loan | Digital Realty Trust, L.P. | British pound sterling (£)
Derivative [Line Items]
Exchange rate | $ / £		1.44	1.47
Unsecured term loan | Digital Realty Trust, L.P. | Canadian dollar (CAD)
Derivative [Line Items]
Exchange rate | $ / CAD		0.77
Unsecured term loan — 7-year | Digital Realty Trust, L.P.
Derivative [Line Items]
Debt instrument, term	7 years	7 years
Interest Rate Swap, 0.932
Derivative [Line Items]
Notional Amount		$ 206,000	$ 206,000
Fair Value at Significant Other Observable Inputs (Level 2)		$ (777)	(416)
Derivative, Fixed Interest Rate		0.932%
Interest Rate Swap, 0.670
Derivative [Line Items]
Notional Amount		$ 54,905	54,905
Fair Value at Significant Other Observable Inputs (Level 2)		$ (56)	69
Derivative, Fixed Interest Rate		0.67%
Interest Rate Swap, 0.500
Derivative [Line Items]
Notional Amount		$ 75,000	75,000
Fair Value at Significant Other Observable Inputs (Level 2)		$ (1)	(10)
Derivative, Fixed Interest Rate		0.50%
Interest Rate Swap, 1.164
Derivative [Line Items]
Notional Amount		$ 75,000	0
Fair Value at Significant Other Observable Inputs (Level 2)		$ (515)	0
Derivative, Fixed Interest Rate		1.164%
Interest Rate Swap, 1.435
Derivative [Line Items]
Notional Amount		$ 300,000	0
Fair Value at Significant Other Observable Inputs (Level 2)		$ (3,728)	0
Derivative, Fixed Interest Rate		1.435%
Interest Rate Swap, 0.925
Derivative [Line Items]
Notional Amount		$ 140,533	133,579
Fair Value at Significant Other Observable Inputs (Level 2)		$ 360	1,500
Derivative, Fixed Interest Rate		0.925%
Interest Rate Swap, 0.792
Derivative [Line Items]
Notional Amount		$ 243,366	0
Fair Value at Significant Other Observable Inputs (Level 2)		$ (1,182)	0
Derivative, Fixed Interest Rate		0.792%
Interest Rate Swap, 0.779
Derivative [Line Items]
Notional Amount		$ 75,747	0
Fair Value at Significant Other Observable Inputs (Level 2)		$ 390	0
Derivative, Fixed Interest Rate		0.779%
Currently Paying Contracts [Member]
Derivative [Line Items]
Notional Amount		$ 1,170,551	469,484
Fair Value at Significant Other Observable Inputs (Level 2)		$ (5,509)	$ 1,143

Fair Value of Instruments (Esti

Fair Value of Instruments (Estimated Fair Value And Carrying Amounts) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	$ 6,407,325	$ 6,075,148
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	6,202,725	5,934,241
Global revolving credit facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Deferred financing costs	13,300	7,600
Global revolving credit facility | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of credit	691,161	967,884
Global revolving credit facility | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of credit	691,161	967,884
Unsecured term loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Deferred financing costs	7,200	1,300
Unsecured term loan | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of credit	1,573,376	924,568
Unsecured term loan | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of credit	1,573,376	924,568
Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	17,118	17,914
Deferred financing costs	25,300	26,000
Senior Notes | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured senior notes	3,884,254	3,868,979
Senior Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured senior notes	3,688,082	3,738,606
Mortgage Loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Deferred financing costs	200	300
Mortgage Loans | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage Loans	258,534	313,717
Mortgage Loans | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage Loans	$ 250,106	$ 303,183
3.400% notes due 2020 | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate (as a percent)	3.40%
3.950% notes due 2022 | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate (as a percent)	3.95%
3.625% notes due 2022 | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate (as a percent)	3.625%
4.750% notes due 2025 | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate (as a percent)	4.75%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands, £ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2016SGD	Mar. 31, 2015USD ($)	Mar. 31, 2015GBP (£)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Jul. 11, 2012USD ($)	Jul. 11, 2012GBP (£)
Commitments and Contingencies [Line Items]
Change in fair value of contingent consideration	$ 0		$ 43,034
Commitments related to construction contracts	209,900
Sentrum Portfolio
Commitments and Contingencies [Line Items]
Contingent liability							$ 87,600	£ 56.5
Reduction in fair value			$ 45,900	£ 30.3
Change in fair value of contingent consideration	43,000
29A International Business Park
Commitments and Contingencies [Line Items]
Additional performance based consideration earned (maximum)	37,100	SGD 50,000,000
Contingent liability					$ 19,400	$ 12,600
Convergence Business Park
Commitments and Contingencies [Line Items]
Sale price of building	24,000
Real estate price, per square acre	$ 225

Subsequent Events (Details)

Subsequent Events (Details) - Apr. 15, 2016 - Digital Realty Trust, L.P. - Subsequent Event $ in Millions	USD ($)	EUR (€)
Subsequent Event [Line Items]
Face amount		€ 600,000,000
Stated interest rate (as a percent)		2.625%
Proceeds from issuance of debt	$ 670.3	€ 594,000,000