Digital Realty Trust 10-Q 5 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Nov. 03, 2021
Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-32336
Entity Registrant Name	DIGITAL REALTY TRUST, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	26-0081711
Entity Address, Address Line One	5707 Southwest Parkway, Building 1, Suite 275
Entity Address, City or Town	Austin
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78735
City Area Code	737
Local Phone Number	281-0101
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		283,787,456
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Central Index Key	0001297996
Current Fiscal Year End Date	--12-31
Digital Realty Trust, L.P.
Entity Information
Document Type	10-Q
Document Period End Date	Sep. 30, 2021
Entity File Number	000-54023
Entity Registrant Name	DIGITAL REALTY TRUST, L.P.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	20-2402955
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth	false
Entity Shell Company	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Central Index Key	0001494877
Current Fiscal Year End Date	--12-31
Common Stock
Entity Information
Title of 12(b) Security	Common Stock
Trading Symbol	DLR
Security Exchange Name	NYSE
Series J Cumulative Redeemable Preferred Stock
Entity Information
Title of 12(b) Security	Series J Cumulative Redeemable Preferred Stock
Trading Symbol	DLR Pr J
Security Exchange Name	NYSE
Series K Cumulative Redeemable Preferred Stock
Entity Information
Title of 12(b) Security	Series K Cumulative Redeemable Preferred Stock
Trading Symbol	DLR Pr K
Security Exchange Name	NYSE
Series L Cumulative Redeemable Preferred Units
Entity Information
Title of 12(b) Security	Series L Cumulative Redeemable Preferred Stock
Trading Symbol	DLR Pr L
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Investments in real estate:
Investments in properties, net	$ 20,581,993	$ 20,582,954
Investments in unconsolidated entities	1,292,325	1,148,158
Net investments in real estate	21,874,318	21,731,112
Operating lease right-of-use assets, net	1,442,661	1,386,959
Cash and cash equivalents	116,002	108,501
Accounts and other receivables, net	610,416	603,111
Deferred rent	552,850	528,180
Goodwill	8,062,914	8,330,996
Customer relationship value, deferred leasing costs and intangibles, net	2,871,622	3,122,904
Other assets	316,863	264,528
Total assets	35,847,646	36,076,291
LIABILITIES AND EQUITY/CAPITAL
Global revolving credit facilities, net	832,322	531,905
Unsecured term loans, net		536,580
Unsecured senior notes, net of discount	13,012,790	11,997,010
Secured and other debt, including premiums	242,427	239,222
Operating lease liabilities	1,543,231	1,468,712
Accounts payable and other accrued liabilities	1,341,864	1,420,162
Deferred tax liabilities, net	725,955	698,308
Accrued dividends and distributions		324,386
Security deposits and prepaid rents	341,778	371,659
Total liabilities	18,040,367	17,587,944
Redeemable noncontrolling interests	40,920	42,011
Commitments and contingencies
Stockholders' Equity:
Preferred stock/ units	731,690	950,940
Common Stock: $0.01 par value per share, 392,000,000 shares authorized; 283,846,802 and 280,289,726 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively	2,818	2,788
Partners' capital:
Additional paid-in capital	21,010,202	20,626,897
Accumulated dividends in excess of earnings	(4,359,033)	(3,997,938)
Accumulated other comprehensive (loss) income, net	(111,560)	135,010
Total stockholders' equity	17,274,117	17,717,697
Noncontrolling interests in consolidated entities	32,324	119,659
Noncontrolling interests	492,242	728,639
Total equity	17,766,359	18,446,336
Total liabilities and equity/capital	35,847,646	36,076,291
Digital Realty Trust, L.P.
Investments in real estate:
Investments in properties, net	20,581,993	20,582,954
Investments in unconsolidated entities	1,292,325	1,148,158
Net investments in real estate	21,874,318	21,731,112
Operating lease right-of-use assets, net	1,442,661	1,386,959
Cash and cash equivalents	116,002	108,501
Accounts and other receivables, net	610,416	603,111
Deferred rent	552,850	528,180
Goodwill	8,062,914	8,330,996
Customer relationship value, deferred leasing costs and intangibles, net	2,871,622	3,122,904
Other assets	316,863	264,528
Total assets	35,847,646	36,076,291
LIABILITIES AND EQUITY/CAPITAL
Global revolving credit facilities, net	832,322	531,905
Unsecured term loans, net		536,580
Unsecured senior notes, net of discount	13,012,790	11,997,010
Secured and other debt, including premiums	242,427	239,222
Operating lease liabilities	1,543,231	1,468,712
Accounts payable and other accrued liabilities	1,341,864	1,420,162
Deferred tax liabilities, net	725,955	698,308
Accrued dividends and distributions		324,386
Security deposits and prepaid rents	341,778	371,659
Total liabilities	18,040,367	17,587,944
Redeemable noncontrolling interests	40,920	42,011
Commitments and contingencies
Stockholders' Equity:
Preferred stock/ units	731,690	950,940
Partners' capital:
Common units, 283,846,802 and 280,289,726 units issued and outstanding as of September 30, 2021 and December 31, 2020, respectively	16,653,987	16,631,747
Limited Partners, 6,494,065 and 8,046,267 units issued and outstanding as of September 30, 2021 and December 31, 2020, respectively	466,160	609,190
Accumulated other comprehensive (loss) income, net	(117,802)	134,800
Total partners' capital	17,734,035	18,326,677
Noncontrolling interests in consolidated entities	32,324	119,659
Total capital	17,766,359	18,446,336
Total liabilities and equity/capital	$ 35,847,646	$ 36,076,291

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Preferred stock, par value (in dollars per share/unit)	$ 0.01	$ 0.01
Preferred stock, authorized (shares)	110,000,000	110,000,000
Liquidation preference	$ 755,000	$ 956,250
Preferred stock, liquidation preference per share (in dollars per share)	$ 25	$ 25
Preferred stock, issued (shares)	30,200,000	38,250,000
Preferred stock, outstanding (shares)	30,200,000	38,250,000
Common stock, par value (in dollars per share/unit)	$ 0.01	$ 0.01
Common stock, authorized (shares)	392,000,000	392,000,000
Common stock, shares, issued (shares)	283,846,802	280,289,726
Common stock, shares, outstanding (shares)	283,846,802	280,289,726
Digital Realty Trust, L.P.
Liquidation preference	$ 755,000	$ 956,250
Preferred stock, liquidation preference per share (in dollars per share)	$ 25	$ 25
Preferred units, issued (units)	30,200,000	38,250,000
Preferred units, outstanding (units)	30,200,000	38,250,000
Common units, issued (units)	283,846,802	280,289,726
Common units, outstanding (units)	283,846,802	280,289,726
Limited Partners' units, issued (units)	6,494,065	8,046,267
Limited Partners' units outstanding (units)	6,494,065	8,046,267

CONDENSED CONSOLIDATED INCOME S

CONDENSED CONSOLIDATED INCOME STATEMENTS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating Revenues:
Total operating revenues	$ 1,133,136	$ 1,024,668	$ 3,316,715	$ 2,841,000
Operating Expenses:
Rental property operating and maintenance	406,329	358,679	1,151,324	957,034
Property taxes and insurance	60,633	42,659	161,634	136,770
Depreciation and amortization	369,035	365,842	1,107,749	1,006,464
General and administrative	98,460	91,352	295,946	249,181
Transactions and integration	13,804	14,953	34,999	87,372
Impairment of investments in real estate	0	6,482		6,482
Other	510	298	2,551	434
Total operating expenses	948,771	880,265	2,754,203	2,443,737
Operating income	184,365	144,403	562,512	397,263
Other Income (Expenses):
Equity in earnings (loss) of unconsolidated entities	40,884	(2,056)	69,996	(88,684)
(Loss) gain on disposition of properties, net	(635)	10,410	333,785	315,211
Other income (expenses), net	(2,947)	4,348	(9)	22,969
Interest expense	(71,417)	(89,499)	(222,084)	(255,173)
Loss from early extinguishment of debt	0	(53,007)	(18,347)	(53,639)
Income tax expense	(13,709)	(16,053)	(68,838)	(34,725)
Net income (loss)	136,541	(1,454)	657,015	303,222
Net (income) loss attributable to noncontrolling interests	(2,266)	1,316	(15,566)	(4,515)
Net income (loss) attributable to Digital Realty Trust, Inc./Digital Realty Trust, L.P.	134,275	(138)	641,449	298,707
Preferred stock dividends, including undeclared dividends	(10,181)	(20,712)	(35,580)	(63,022)
Gain (loss) on redemption of preferred stock	0	(16,520)	18,000	(16,520)
Net income (loss) available to common stockholders	$ 124,094	$ (37,370)	$ 623,869	$ 219,165
Net income (loss) per share/unit available to common stockholders/unitholders:
Basic (in dollars per share/unit)	$ 0.44	$ (0.14)	$ 2.21	$ 0.86
Diluted (in dollars per share/unit)	$ 0.44	$ (0.14)	$ 2.21	$ 0.85
Weighted average common shares/ units outstanding:
Basic (shares/units)	283,105,966	270,214,413	282,004,907	253,377,527
Diluted (shares/units)	283,799,538	270,214,413	282,672,720	256,362,579
Digital Realty Trust, L.P.
Operating Revenues:
Total operating revenues	$ 1,133,136	$ 1,024,668	$ 3,316,715	$ 2,841,000
Operating Expenses:
Rental property operating and maintenance	406,329	358,679	1,151,324	957,034
Property taxes and insurance	60,633	42,659	161,634	136,770
Depreciation and amortization	369,035	365,842	1,107,749	1,006,464
General and administrative	98,460	91,352	295,946	249,181
Transactions and integration	13,804	14,953	34,999	87,372
Other	510	298	2,551	434
Total operating expenses	948,771	880,265	2,754,203	2,443,737
Operating income	184,365	144,403	562,512	397,263
Other Income (Expenses):
Equity in earnings (loss) of unconsolidated entities	40,884	(2,056)	69,996	(88,684)
(Loss) gain on disposition of properties, net	(635)	10,410	333,785	315,211
Other income (expenses), net	(2,947)	4,348	(9)	22,969
Interest expense	(71,417)	(89,499)	(222,084)	(255,173)
Loss from early extinguishment of debt		(53,007)	(18,347)	(53,639)
Income tax expense	(13,709)	(16,053)	(68,838)	(34,725)
Net income (loss)	136,541	(1,454)	657,015	303,222
Net (income) loss attributable to noncontrolling interests	734	316	434	3,685
Net income (loss) attributable to Digital Realty Trust, Inc./Digital Realty Trust, L.P.	137,275	(1,138)	657,449	306,907
Preferred stock dividends, including undeclared dividends	(10,181)	(20,712)	(35,580)	(63,022)
Gain (loss) on redemption of preferred stock		(16,520)	18,000	(16,520)
Net income (loss) available to common stockholders	$ 127,094	$ (38,370)	$ 639,869	$ 227,365
Net income (loss) per share/unit available to common stockholders/unitholders:
Basic (in dollars per share/unit)	$ 0.44	$ (0.14)	$ 2.21	$ 0.87
Diluted (in dollars per share/unit)	$ 0.44	$ (0.14)	$ 2.21	$ 0.86
Weighted average common shares/ units outstanding:
Basic (shares/units)	289,535,213	278,079,187	288,897,093	261,416,412
Diluted (shares/units)	290,228,785	278,079,187	289,564,906	264,401,464
Rental and other services
Operating Revenues:
Total operating revenues	$ 1,110,904	$ 1,020,931	$ 3,288,205	$ 2,828,678
Rental and other services | Digital Realty Trust, L.P.
Operating Revenues:
Total operating revenues	1,110,904	1,020,931	3,288,205	2,828,678
Fee income and other
Operating Revenues:
Total operating revenues	22,232	3,737	28,510	12,322
Fee income and other | Digital Realty Trust, L.P.
Operating Revenues:
Total operating revenues	$ 22,232	$ 3,737	$ 28,510	$ 12,322

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net income (loss)	$ 136,541	$ (1,454)	$ 657,015	$ 303,222
Other comprehensive income (loss):
Foreign currency translation adjustments	(147,120)	233,747	(254,444)	(34,796)
Increase (decrease) in fair value of interest rate swaps	209	137	772	(12,711)
Reclassification to interest expense from interest rate swaps	358	7,673	1,070	7,899
Other comprehensive income (loss)	(146,553)	241,557	(252,602)	(39,608)
Comprehensive income (loss)	(10,012)	240,103	404,413	263,614
Comprehensive (income) loss attributable to noncontrolling interests	995	(5,516)	(9,533)	(609)
Comprehensive income (loss) attributable to Digital Realty Trust, Inc.	(9,017)	234,587	394,880	263,005
Digital Realty Trust, L.P.
Net income (loss)	136,541	(1,454)	657,015	303,222
Other comprehensive income (loss):
Foreign currency translation adjustments	(147,120)	233,747	(254,444)	(34,796)
Increase (decrease) in fair value of interest rate swaps	209	137	772	(12,711)
Reclassification to interest expense from interest rate swaps	358	7,673	1,070	7,899
Other comprehensive income (loss)	(146,553)	241,557	(252,602)	(39,608)
Comprehensive income (loss)	(10,012)	240,103	404,413	263,614
Comprehensive (income) loss attributable to noncontrolling interests	734	316	434	3,685
Comprehensive income (loss) attributable to Digital Realty Trust, Inc.	$ (9,278)	$ 240,419	$ 404,847	$ 267,299

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF EQUITY - USD ($) $ in Thousands	General PartnerPreferred UnitsDigital Realty Trust, L.P.Series C Cumulative Redeemable Perpetual Preferred Stock	General PartnerPreferred UnitsDigital Realty Trust, L.P.Series G Cumulative Redeemable Preferred Stock	General PartnerPreferred UnitsDigital Realty Trust, L.P.Series I Cumulative Redeemable Preferred Stock	General PartnerPreferred UnitsDigital Realty Trust, L.P.	General PartnerCommon UnitsDigital Realty Trust, L.P.Series C Cumulative Redeemable Perpetual Preferred Stock	General PartnerCommon UnitsDigital Realty Trust, L.P.Series G Cumulative Redeemable Preferred Stock	General PartnerCommon UnitsDigital Realty Trust, L.P.Series I Cumulative Redeemable Preferred Stock	General PartnerCommon UnitsDigital Realty Trust, L.P.	Limited PartnersCommon UnitsDigital Realty Trust, L.P.	Redeemable InterestsDigital Realty Trust, L.P.	Accumulated Other Comprehensive Income (Loss), NetDigital Realty Trust, L.P.Interest Rate Swap	Accumulated Other Comprehensive Income (Loss), NetDigital Realty Trust, L.P.	Noncontrolling Interests in Consolidated Joint VenturesDigital Realty Trust, L.P.	Digital Realty Trust, L.P.Series C Cumulative Redeemable Perpetual Preferred Stock	Digital Realty Trust, L.P.Series G Cumulative Redeemable Preferred Stock	Digital Realty Trust, L.P.Series I Cumulative Redeemable Preferred Stock	Digital Realty Trust, L.P.Interest Rate Swap	Digital Realty Trust, L.P.	Redeemable Noncontrolling Interests -- Operating Partnership	Preferred StockSeries H Cumulative Redeemable Preferred Stock	Preferred StockSeries G Cumulative Redeemable Preferred Stock	Preferred StockSeries I Cumulative Redeemable Preferred Stock	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Dividends in Excess of EarningsSeries H Cumulative Redeemable Preferred Stock	Accumulated Dividends in Excess of EarningsSeries G Cumulative Redeemable Preferred Stock	Accumulated Dividends in Excess of EarningsSeries I Cumulative Redeemable Preferred Stock	Accumulated Dividends in Excess of Earnings	Accumulated Other Comprehensive Income (Loss), NetInterest Rate Swap	Accumulated Other Comprehensive Income (Loss), Net	Noncontrolling InterestsInterest Rate Swap	Noncontrolling Interests	Series H Cumulative Redeemable Preferred Stock	Series G Cumulative Redeemable Preferred Stock	Series I Cumulative Redeemable Preferred Stock	Interest Rate Swap	Total
Beginning balance at Dec. 31, 2019																			$ 41,465				$ 1,434,420	$ 2,073	$ 11,577,320				$ (3,046,579)		$ (87,922)		$ 728,788					$ 10,608,100
Beginning balance (shares) at Dec. 31, 2019																								208,900,758
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of common units to common stock																								$ 9	80,577								(80,586)
Conversion of common units to common stock (shares)																								927,779
Common stock and share-based awards issued in connection with InterXion combination								$ 6,985,052										$ 6,985,052						$ 543	6,984,509													6,985,052
Common stock and share-based awards issued in connection with InterXion combination (in shares)								54,298,595																54,298,595
Issuance of common stock, net of offering costs																								$ 159	1,889,575													1,889,734
Issuance of common stock, net of offering costs (shares)																								15,915,673
Shares issued under employee stock purchase plan								$ 6,503										6,503							6,503													6,503
Shares issued under employee stock purchase plan (shares)								58,136																58,136
Amortization of share-based compensation								$ 56,814										56,814							58,064													58,064
Vesting of restricted stock, net (shares)								180,320																(180,320)
Shares repurchased and retired to satisfy tax withholding upon vesting								$ (7,320)										(7,320)							(8,570)													(8,570)
Reclassification of vested share-based awards																									(17,116)								17,116
Reclassification of stock to accounts payable and other accrued liabilities		$ (241,468)				$ (8,532)									$ (250,000)						$ (241,468)						$ (8,532)								$ (250,000)
Redemption of preferred stock			$ (242,012)				$ (7,988)									$ (250,000)						$ (242,012)						$ (7,988)								$ (250,000)
Adjustment to redeemable noncontrolling interests																			4,217						(4,217)													(4,217)
Dividends declared on preferred stock																		(63,022)											(63,022)									(63,022)
Dividends and distributions on common stock and common and incentive units																			(525)										(899,487)				(28,464)					(927,951)
Contributions from (distributions to) noncontrolling interests in consolidated entities										$ 2,089			$ 87,645					87,645	2,089														87,645					87,645
Net income (loss)				$ 63,022				235,685	$ 8,354	(3,535)			(304)					306,757	(3,535)										298,707				8,050					306,757
Other comprehensive income (loss)-foreign currency translation adjustments										(2,446)		$ (34,796)						(34,796)	(2,446)												(31,121)		(3,675)					(34,796)
Other comprehensive income-fair value of interest rate swaps											$ (12,711)						$ (12,711)	(12,711)												$ (12,259)		$ (452)					$ (12,711)	(12,711)
Other comprehensive income- reclassification of accumulated other comprehensive income/loss to interest expense												7,899						7,899													7,679		220					7,899
Ending balance at Sep. 30, 2020																			41,265				950,940	$ 2,784	20,566,645				(3,726,901)		(123,623)		728,642					18,398,487
Ending balance (shares) at Sep. 30, 2020																								279,920,621
Beginning balance at Dec. 31, 2019																			41,465				1,434,420	$ 2,073	11,577,320				(3,046,579)		(87,922)		728,788					10,608,100
Beginning balance (shares) at Dec. 31, 2019																								208,900,758
Ending balance at Dec. 31, 2020																			42,011				950,940	$ 2,788	20,626,897				(3,997,938)		135,010		728,639					18,446,336
Ending balance (shares) at Dec. 31, 2020																								280,289,726
Beginning balance at Jun. 30, 2020																			40,584				1,434,420	$ 2,670	19,292,311				(3,386,525)		(358,349)		698,122					17,682,649
Beginning balance (shares) at Jun. 30, 2020																								268,399,073
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of common units to common stock																								$ 1	10,303								(10,304)
Conversion of common units to common stock (shares)																								121,967
Issuance of common stock, net of offering costs																								$ 113	1,244,990													1,245,103
Issuance of common stock, net of offering costs (shares)																								11,329,722
Shares issued under employee stock purchase plan								$ 3,865										3,865							3,865													3,865
Shares issued under employee stock purchase plan (shares)								32,902																32,902
Amortization of share-based compensation								$ 20,334										20,334							20,334													20,334
Vesting of restricted stock, net (shares)								36,957																(36,957)
Shares repurchased and retired to satisfy tax withholding upon vesting								$ (3,820)										(3,820)							(3,820)													(3,820)
Reclassification of vested share-based awards																									(612)								612
Reclassification of stock to accounts payable and other accrued liabilities		$ (241,468)				$ (8,532)									$ (250,000)						$ (241,468)						$ (8,532)								$ (250,000)
Redemption of preferred stock			$ (242,012)				$ (7,988)									$ (250,000)						$ (242,012)						$ (7,988)								$ (250,000)
Adjustment to redeemable noncontrolling interests																			726						(726)													(726)
Dividends declared on preferred stock																		(20,712)											(20,712)									(20,712)
Dividends and distributions on common stock and common and incentive units																			(175)										(303,006)				(9,314)					(312,320)
Contributions from (distributions to) noncontrolling interests in consolidated entities										522			43,663					43,663	522														43,663					43,663
Net income (loss)				20,712				(20,850)	(981)	(347)			12					(1,107)	(347)										(138)				(969)					(1,107)
Other comprehensive income (loss)-foreign currency translation adjustments										(45)		233,747						233,747	(45)												227,136		6,611					233,747
Other comprehensive income-fair value of interest rate swaps											138						138	137												134		4					138	137
Other comprehensive income- reclassification of accumulated other comprehensive income/loss to interest expense												7,673						7,673													7,456		217					7,673
Ending balance at Sep. 30, 2020																			41,265				950,940	$ 2,784	20,566,645				(3,726,901)		(123,623)		728,642					18,398,487
Ending balance (shares) at Sep. 30, 2020																								279,920,621
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjustment to redeemable partnership units								(726)		726								(726)
Beginning balance at Dec. 31, 2020																			42,011				950,940	$ 2,788	20,626,897				(3,997,938)		135,010		728,639					18,446,336
Beginning balance (shares) at Dec. 31, 2020																								280,289,726
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of common units to common stock																								$ 19	157,893								(157,912)
Conversion of common units to common stock (shares)																								1,902,826
Common stock issued in connection with acquisition								$ 18,270										18,270						$ 1	18,269													18,270
Common stock issued in connection with acquisition (shares)								125,395																125,395
Issuance of common stock, net of offering costs																								$ 11	168,298													168,309
Issuance of common stock, net of offering costs (shares)																								1,060,943
Shares issued under employee stock purchase plan								$ 9,895										9,895							9,895													9,895
Shares issued under employee stock purchase plan (shares)								82,129																82,129
Amortization of share-based compensation								$ 69,278										69,278							69,278													69,278
Vesting of restricted stock, net (shares)								385,783																385,783
Shares repurchased and retired to satisfy tax withholding upon vesting								$ (16,550)										(16,550)						$ (1)	(16,549)													(16,550)
Reclassification of vested share-based awards																									(23,008)								23,008
Redemption of preferred stock	$ (219,250)				$ 18,000									$ (201,250)						$ (219,250)						$ 18,000								$ (201,250)
Adjustment to redeemable noncontrolling interests																			771						(771)													(771)
Dividends declared on preferred stock																		(35,580)											(35,580)									(35,580)
Dividends and distributions on common stock and common and incentive units																			(543)										(984,964)				(23,779)					(1,008,743)
Contributions from (distributions to) noncontrolling interests in consolidated entities										(1,666)			110,115					110,115	(1,666)														110,115					110,115
Deconsolidation of consolidated joint venture/consolidated entities													(197,016)					(197,016)															(197,016)					(197,016)
Net income (loss)				35,580				605,869	15,653	347			(434)					656,668	347										641,449				15,219					656,668
Other comprehensive income (loss)-foreign currency translation adjustments												(254,444)						(254,444)													(248,367)		(6,077)					(254,444)
Other comprehensive income-fair value of interest rate swaps											$ 772						$ 772	772												753		19					772	772
Other comprehensive income- reclassification of accumulated other comprehensive income/loss to interest expense												1,070						1,070													1,044		26					1,070
Ending balance at Sep. 30, 2021																			40,920				731,690	$ 2,818	21,010,202				(4,359,033)		(111,560)		492,242					17,766,359
Ending balance (shares) at Sep. 30, 2021																								283,846,802
Beginning balance at Jun. 30, 2021																			41,490				731,690	$ 2,806	20,844,834				(4,153,407)		31,733		706,591					18,164,247
Beginning balance (shares) at Jun. 30, 2021																								282,603,152
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of common units to common stock																								$ 6	46,509								(46,515)
Conversion of common units to common stock (shares)																								562,151
Issuance of common stock, net of offering costs																								$ 6	92,865													92,871
Issuance of common stock, net of offering costs (shares)																								583,181
Shares issued under employee stock purchase plan								$ 6,468										6,468							6,468													6,468
Shares issued under employee stock purchase plan (shares)								52,654																52,654
Amortization of share-based compensation								$ 19,427										19,427							19,427													19,427
Vesting of restricted stock, net (shares)								45,664																45,664
Shares repurchased and retired to satisfy tax withholding upon vesting								$ (701)										(701)							(701)													(701)
Reclassification of vested share-based awards																									(138)								138
Adjustment to redeemable noncontrolling interests																			(938)						938													938
Dividends declared on preferred stock																		(10,181)											(10,181)									(10,181)
Dividends and distributions on common stock and common and incentive units																			(181)										(329,720)				(7,277)					(336,997)
Contributions from (distributions to) noncontrolling interests in consolidated entities										484			37,380					37,380	484														37,380					37,380
Deconsolidation of consolidated joint venture/consolidated entities													(197,016)					(197,016)															(197,016)					(197,016)
Net income (loss)				$ 10,181				124,094	$ 2,935	65			(734)					136,476	65										134,275				2,201					136,476
Other comprehensive income (loss)-foreign currency translation adjustments												(147,120)	$ 0					(147,120)													(143,847)		(3,273)					(147,120)
Other comprehensive income-fair value of interest rate swaps																		209												$ 204		$ 5					$ 209	209
Other comprehensive income- reclassification of accumulated other comprehensive income/loss to interest expense												$ 358						358													350		8					358
Ending balance at Sep. 30, 2021																			$ 40,920				$ 731,690	$ 2,818	$ 21,010,202				$ (4,359,033)		$ (111,560)		$ 492,242					$ 17,766,359
Ending balance (shares) at Sep. 30, 2021																								283,846,802
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common units, net of forfeitures (units)									807
Adjustment to redeemable partnership units								$ 938		$ (938)								$ 938

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CAPITAL - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance (units)			280,289,726
Common units issued in connection with acquisition			$ 18,270
Common units and share-based awards issued in connection with Interxion combination				$ 6,985,052
Units issued in connection with employee stock purchase plan	$ 6,468	$ 3,865	9,895	6,503
Units repurchased and retired to satisfy tax withholding upon vesting	(701)	(3,820)	(16,550)	(8,570)
Amortization of share-based compensation	19,427	20,334	69,278	58,064
Adjustment to redeemable noncontrolling interests	938	(726)	(771)	(4,217)
Contributions from noncontrolling interests in consolidated joint ventures, net of distributions	37,380	43,663	110,115	87,645
Cumulative effect adjustment from adoption of new accounting standard	17,766,359	18,398,487	17,766,359	18,398,487	$ 18,446,336
Deconsolidation of consolidated joint venture/consolidated entities	(197,016)		(197,016)
Net income (loss)	136,476	(1,107)	656,668	306,757
Other comprehensive income (loss)-foreign currency translation adjustments	(147,120)	233,747	(254,444)	(34,796)
Other comprehensive income-fair value of interest rate swaps	209	137	772	(12,711)
Other comprehensive income- reclassification of accumulated other comprehensive income/loss to interest expense	$ 358	7,673	$ 1,070	7,899
Ending balance (units)	283,846,802		283,846,802		280,289,726
Interest Rate Swap
Increase (Decrease) in Partners' Capital [Roll Forward]
Other comprehensive income-fair value of interest rate swaps	$ 209	138	$ 772	(12,711)
Series H Cumulative Redeemable Preferred Stock
Increase (Decrease) in Partners' Capital [Roll Forward]
Redemption of preferred units			(201,250)
Series G Cumulative Redeemable Preferred Stock
Increase (Decrease) in Partners' Capital [Roll Forward]
Reclassification of units to accounts payable and other accrued liabilities		(250,000)		(250,000)
Series I Cumulative Redeemable Preferred Stock
Increase (Decrease) in Partners' Capital [Roll Forward]
Redemption of preferred units		(250,000)		(250,000)
Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	18,164,247	17,682,649	18,446,336	10,608,100	$ 10,608,100
Common units issued in connection with acquisition			18,270
Common units and share-based awards issued in connection with Interxion combination				6,985,052
Issuance of common unit, net of offering costs	92,871	1,245,103	168,309	1,889,734
Units issued in connection with employee stock purchase plan	6,468	3,865	9,895	6,503
Units repurchased and retired to satisfy tax withholding upon vesting	(701)	(3,820)	(16,550)	(7,320)
Amortization of share-based compensation	19,427	20,334	69,278	56,814
Adjustment to redeemable partnership units			(771)	(4,217)
Distributions	(347,178)	(333,032)	(1,044,323)	(990,973)
Contributions from noncontrolling interests in consolidated joint ventures, net of distributions	37,380	43,663	110,115	87,645
Deconsolidation of consolidated joint venture/consolidated entities	(197,016)		(197,016)
Net income (loss)	136,476	(1,107)	656,668	306,757
Other comprehensive income (loss)-foreign currency translation adjustments	(147,120)	233,747	(254,444)	(34,796)
Other comprehensive income-fair value of interest rate swaps	209	137	772	(12,711)
Other comprehensive income- reclassification of accumulated other comprehensive income/loss to interest expense	358	7,673	1,070	7,899
Ending balance	17,766,359	18,398,487	17,766,359	18,398,487	18,446,336
Digital Realty Trust, L.P. | Interest Rate Swap
Increase (Decrease) in Partners' Capital [Roll Forward]
Other comprehensive income-fair value of interest rate swaps		138	772	(12,711)
Other comprehensive income-fair value of interest rate swaps	209
Digital Realty Trust, L.P. | Series C Cumulative Redeemable Perpetual Preferred Stock
Increase (Decrease) in Partners' Capital [Roll Forward]
Redemption of preferred units			(201,250)
Digital Realty Trust, L.P. | Series G Cumulative Redeemable Preferred Stock
Increase (Decrease) in Partners' Capital [Roll Forward]
Reclassification of units to accounts payable and other accrued liabilities		(250,000)		(250,000)
Digital Realty Trust, L.P. | Series I Cumulative Redeemable Preferred Stock
Increase (Decrease) in Partners' Capital [Roll Forward]
Redemption of preferred units		(250,000)		(250,000)
Redeemable Interests | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	41,490	40,584	42,011	41,465	41,465
Adjustment to redeemable partnership units			771	4,217
Distributions	(181)	(175)	(543)	(525)
Contributions from noncontrolling interests in consolidated joint ventures, net of distributions	484	522	(1,666)	2,089
Net income (loss)	65	(347)	347	(3,535)
Other comprehensive income (loss)-foreign currency translation adjustments		(45)		(2,446)
Ending balance	40,920	41,265	40,920	41,265	42,011
Accumulated Other Comprehensive Income (Loss), Net | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	28,751	(372,575)	134,800	(91,409)	(91,409)
Other comprehensive income (loss)-foreign currency translation adjustments	(147,120)	233,747	(254,444)	(34,796)
Other comprehensive income- reclassification of accumulated other comprehensive income/loss to interest expense	358	7,673	1,070	7,899
Ending balance	(117,802)	(131,017)	(117,802)	(131,017)	134,800
Accumulated Other Comprehensive Income (Loss), Net | Digital Realty Trust, L.P. | Interest Rate Swap
Increase (Decrease) in Partners' Capital [Roll Forward]
Other comprehensive income-fair value of interest rate swaps		138	772	(12,711)
Other comprehensive income-fair value of interest rate swaps	209
Noncontrolling Interests in Consolidated Joint Ventures | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	192,694	64,291	119,659	20,625	20,625
Contributions from noncontrolling interests in consolidated joint ventures, net of distributions	37,380	43,663	110,115	87,645
Deconsolidation of consolidated joint venture/consolidated entities	(197,016)		(197,016)
Net income (loss)	(734)	12	(434)	(304)
Other comprehensive income (loss)-foreign currency translation adjustments	0
Ending balance	32,324	107,966	32,324	107,966	119,659
General Partner | Preferred Units | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	$ 731,690	$ 1,434,420	$ 950,940	$ 1,434,420	$ 1,434,420
Beginning balance (units)	30,200,000	58,250,000	38,250,000	58,250,000	58,250,000
Distributions	$ (10,181)	$ (20,712)	$ (35,580)	$ (63,022)
Net income (loss)	10,181	20,712	35,580	63,022
Ending balance	$ 731,690	$ 950,940	$ 731,690	$ 950,940	$ 950,940
Ending balance (units)	30,200,000	38,250,000	30,200,000	38,250,000	38,250,000
General Partner | Preferred Units | Digital Realty Trust, L.P. | Series C Cumulative Redeemable Perpetual Preferred Stock
Increase (Decrease) in Partners' Capital [Roll Forward]
Redemption of preferred units			$ (219,250)
Redemption of preferred units (in units)			(8,050,000)
General Partner | Preferred Units | Digital Realty Trust, L.P. | Series G Cumulative Redeemable Preferred Stock
Increase (Decrease) in Partners' Capital [Roll Forward]
Reclassification of units to accounts payable and other accrued liabilities		$ (241,468)		$ (241,468)
Reclassification of units to accounts payable and other accrued liabilities (in units)		(10,000,000)		(10,000,000)
General Partner | Preferred Units | Digital Realty Trust, L.P. | Series I Cumulative Redeemable Preferred Stock
Increase (Decrease) in Partners' Capital [Roll Forward]
Redemption of preferred units		$ (242,012)		$ (242,012)
Redemption of preferred units (in units)		(10,000,000)		(10,000,000)
General Partner | Common Units | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	$ 16,694,233	$ 15,908,456	$ 16,631,747	$ 8,532,814	$ 8,532,814
Beginning balance (units)	282,603,152	268,399,073	280,289,726	208,900,758	208,900,758
Conversion of limited partner common units to general partner common units	$ 46,515	$ 10,304	$ 157,912	$ 80,586
Conversion of limited partner common units to general partner common units (units)	562,151	121,967	1,902,826	927,779
Common units issued in connection with acquisition			$ 18,270
Common units issued in connection with acquisition (in units)			125,395
Common units and share-based awards issued in connection with Interxion combination				$ 6,985,052
Common units and share-based awards issued in connection with Interxion combination (in units)				54,298,595
Issuance of common unit, net of offering costs	$ 92,871	$ 1,245,103	$ 168,309	$ 1,889,734
Issuance of common units, net of offering costs (in units)	583,181	11,329,722	1,060,943	15,915,673
Units issued in connection with employee stock purchase plan	$ 6,468	$ 3,865	$ 9,895	$ 6,503
Units issued in connection with employee stock purchase plan (units)	52,654	32,902	82,129	58,136
Units repurchased and retired to satisfy tax withholding upon vesting	$ (701)	$ (3,820)	$ (16,550)	$ (7,320)
Amortization of share-based compensation	$ 19,427	$ 20,334	$ 69,278	$ 56,814
Vesting of restricted common units, net (units)	45,664	36,957	385,783	180,320
Reclassification of vested share-based awards	$ (138)	$ (612)	$ (23,008)	$ (17,116)
Adjustment to redeemable partnership units			(771)	(4,217)
Distributions	(329,720)	(303,006)	(984,964)	(899,487)
Net income (loss)	124,094	(20,850)	605,869	235,685
Ending balance	$ 16,653,987	$ 16,842,528	$ 16,653,987	$ 16,842,528	$ 16,631,747
Ending balance (units)	283,846,802	279,920,621	283,846,802	279,920,621	280,289,726
General Partner | Common Units | Digital Realty Trust, L.P. | Series C Cumulative Redeemable Perpetual Preferred Stock
Increase (Decrease) in Partners' Capital [Roll Forward]
Redemption of preferred units			$ 18,000
General Partner | Common Units | Digital Realty Trust, L.P. | Series G Cumulative Redeemable Preferred Stock
Increase (Decrease) in Partners' Capital [Roll Forward]
Reclassification of units to accounts payable and other accrued liabilities		$ (8,532)		$ (8,532)
General Partner | Common Units | Digital Realty Trust, L.P. | Series I Cumulative Redeemable Preferred Stock
Increase (Decrease) in Partners' Capital [Roll Forward]
Redemption of preferred units		(7,988)		(7,988)
Limited Partners | Common Units | Digital Realty Trust, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	$ 516,879	$ 648,057	$ 609,190	$ 711,650	$ 711,650
Beginning balance (units)	7,055,409	8,287,819	8,046,267	8,843,155	8,843,155
Conversion of limited partner common units to general partner common units	$ (46,515)	$ (10,304)	$ (157,912)	$ (80,586)
Conversion of limited partner common units to general partner common units (units)	(562,151)	(121,967)	(1,902,826)	(927,779)
Issuance of common units, net of forfeitures (units)		(809)	350,624	251,285
Reclassification of vested share-based awards	$ 138	$ 612	$ 23,008	$ 17,116
Distributions	(7,277)	(9,314)	(23,779)	(28,464)
Net income (loss)	2,935	(981)	15,653	8,354
Ending balance	$ 466,160	$ 628,070	$ 466,160	$ 628,070	$ 609,190
Ending balance (units)	6,494,065	8,166,661	6,494,065	8,166,661	8,046,267

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income (loss)	$ 657,015	$ 303,222
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on disposition of properties, net	(333,785)	(315,211)
Equity in (earnings) loss of unconsolidated entities	(69,996)	88,684
Distributions from unconsolidated entities	62,649	18,939
Depreciation and amortization	1,107,749	1,006,464
Amortization of share-based compensation	66,036	54,938
Loss from early extinguishment of debt	18,347	53,639
Amortization of acquired above-market leases and acquired below-market leases, net	5,322	9,447
Amortization of deferred financing costs and debt discount / premium	14,319	14,463
Other items, net	4,191	(7,802)
Impairment of investments in real estate		6,482
Changes in assets and liabilities:
Increase in accounts receivable and other assets	(241,104)	(103,083)
(Decrease) increase in accounts payable and other liabilities	(40,454)	57,039
Net cash provided by operating activities	1,250,290	1,180,739
Cash flows from investing activities:
Improvements to investments in real estate	(1,748,075)	(1,376,795)
Cash paid for business combinations and assets acquisition, net of cash and restricted cash acquired	(168,439)	(496,646)
Proceeds from (investment in) unconsolidated entities, net	9,306
Proceeds from (investment in) unconsolidated entities, net		(128,898)
Proceeds from sale of real estate	719,764	547,913
Other investing activities, net	7,627	(65,093)
Net cash used in investing activities	(1,179,817)	(1,519,519)
Cash flows from financing activities:
Net proceeds from (payments on) credit facilities	323,441	(228,867)
Borrowings on secured / unsecured debt	1,816,178	3,573,121
Repayments on secured / unsecured debt	(886,968)	(2,536,362)
Premium paid for early extinguishment of debt	(16,482)	(48,191)
Capital contributions from noncontrolling interests	108,448	81,061
Proceeds from Issuance of Common Stock, Net	168,309	1,881,164
Redemption of preferred stock	(201,250)	(250,000)
Payments of dividends and distributions	(1,369,251)	(1,225,547)
Other financing activities, net	(19,595)	(15,229)
Net cash (used in) provided by financing activities	(77,170)	1,231,150
Net (decrease) increase in cash, cash equivalents and restricted cash	(6,698)	892,370
Effect of exchange rate changes on cash, cash equivalents and restricted cash	10,138	(3,034)
Cash, cash equivalents and restricted cash at beginning of period	123,652	97,253
Cash, cash equivalents and restricted cash at end of period	127,092	986,589
Digital Realty Trust, L.P.
Cash flows from operating activities:
Net income (loss)	657,015	303,222
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on disposition of properties, net	(333,785)	(315,211)
Equity in (earnings) loss of unconsolidated entities	(69,996)	88,684
Distributions from unconsolidated entities	62,649	18,939
Depreciation and amortization	1,107,749	1,006,464
Amortization of share-based compensation	66,036	54,938
Loss from early extinguishment of debt	18,347	53,639
Amortization of acquired above-market leases and acquired below-market leases, net	5,322	9,447
Amortization of deferred financing costs and debt discount / premium	14,319	14,463
Other items, net	4,191	(7,802)
Changes in assets and liabilities:
Increase in accounts receivable and other assets	(241,104)	(103,083)
(Decrease) increase in accounts payable and other liabilities	(40,454)	57,039
Net cash provided by operating activities	1,250,290	1,180,739
Cash flows from investing activities:
Improvements to investments in real estate	(1,748,075)	(1,376,795)
Cash paid for business combinations and assets acquisition, net of cash and restricted cash acquired	(168,439)	(496,646)
Proceeds from (investment in) unconsolidated entities, net	9,306
Proceeds from (investment in) unconsolidated entities, net		(128,898)
Proceeds from sale of real estate	719,764	547,913
Other investing activities, net	7,627	(65,093)
Net cash used in investing activities	(1,179,817)	(1,519,519)
Cash flows from financing activities:
Net proceeds from (payments on) credit facilities	323,441	(228,867)
Borrowings on secured / unsecured debt	1,816,178	3,573,121
Repayments on secured / unsecured debt	(886,968)	(2,536,362)
Premium paid for early extinguishment of debt	(16,482)	(48,191)
Capital contributions from noncontrolling interests	108,448	81,061
General partner contributions	168,309	1,881,164
General partner distributions	(201,250)	(250,000)
Payments of dividends and distributions	(1,369,251)	(1,225,547)
Other financing activities, net	(19,595)	(15,229)
Net cash (used in) provided by financing activities	(77,170)	1,231,150
Net (decrease) increase in cash, cash equivalents and restricted cash	(6,698)	892,370
Effect of exchange rate changes on cash, cash equivalents and restricted cash	10,138	(3,034)
Cash, cash equivalents and restricted cash at beginning of period	123,652	97,253
Cash, cash equivalents and restricted cash at end of period	$ 127,092	$ 986,589

General

General	9 Months Ended
	Sep. 30, 2021
General
General	1. General Business ​ Digital Realty Trust, Inc. (the Parent), through its controlling interest in Digital Realty Trust, L.P. (the Operating Partnership or the OP) and the subsidiaries of the OP (collectively, we, our, us or the Company), is a leading global provider of data center (including colocation and interconnection) solutions for customers across a variety of industry verticals ranging from cloud and information technology services, social networking and communications to financial services, manufacturing, energy, healthcare, and consumer products. The OP, a Maryland limited partnership, is the entity through which the Parent, a Maryland corporation, conducts its business of owning, acquiring, developing and operating data centers. The Parent operates as a REIT for federal income tax purposes. ​ Accounting Principles ​ Our unaudited interim condensed consolidated financial statements and accompanying notes are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”). All material intercompany transactions with consolidated entities have been eliminated. In the opinion of management, the unaudited interim consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair statement of the results for the interim periods presented. Interim results are not always indicative of results for a full year. The information included in this Form 10-Q should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2020 (“2020 Form 10-K”), as filed with the U.S. Securities and Exchange Commission (“SEC”), our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021, as filed with the SEC, and other filings with the SEC. Basis of Presentation The accompanying interim condensed consolidated financial statements include all accounts of the Parent, the OP and the subsidiaries of the OP. The notes to the condensed consolidated financial statements have been combined. ​ The Parent’s only material asset is its ownership of partnership interests of the OP. As a result, the Parent generally does not conduct business itself, other than acting as the sole general partner of the OP, issuing public securities from time to time and guaranteeing certain unsecured debt of the OP and certain of its subsidiaries and affiliates. The Parent has not issued any debt but guarantees the unsecured debt of the OP and certain of its subsidiaries and affiliates. ​ The OP holds substantially all the assets of the Company. The OP conducts the operations of the business and has no publicly traded equity. Except for net proceeds from public equity issuances by the Parent, which are generally contributed to the OP in exchange for partnership units, the OP generally generates the capital required by the Company’s business primarily through the OP’s operations, by the OP’s or its affiliates’ direct or indirect incurrence of indebtedness or through the issuance of partnership units. ​ Management Estimates and Assumptions ​ 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, liabilities, revenue, and expenses. We evaluate our estimates on an ongoing basis. We base our estimates on historical experience, current market conditions, and various other assumptions that we believe to be reasonable under the circumstances. Examples of estimates and assumptions include: the probability of collection of lease payments from customers, the recoverability of the carrying values of investments in real estate, the fair value of share-based compensation awards, loss contingencies, the fair value of and/or potential impairment of goodwill and intangible assets, useful lives of tangible and intangible assets, and the fair value of customer relationships, buildings & improvements, and other tangible and intangible assets acquired in business combinations and asset acquisitions. Actual results and outcomes may differ from management’s estimates and assumptions due to risks and uncertainties. ​ The Company is closely monitoring the impact of the COVID-19 pandemic on all aspects of its business and geographies, including how the pandemic is impacting the Company’s customers and business partners. While the Company has not incurred significant disruptions during the nine months ended September 30, 2021 from the COVID-19 pandemic, we are unable to predict the impact the COVID-19 pandemic will have on the Company’s financial condition, results of operations and cash flows due to numerous uncertainties. ​ New Accounting Pronouncements ​ In December 2019, the Financial Accounting Standards Board (FASB) issued updated guidance for the accounting for income taxes. The updated guidance is intended to simplify the accounting for income taxes by removing several exceptions contained in existing guidance and amending other existing guidance to simplify several other income tax accounting matters. The Company adopted the updated guidance for the quarter ended March 31, 2021. The adoption of this guidance did not have a material effect on the Company’s results of operations, financial position or liquidity. ​ We determined that all other recently issued accounting pronouncements that have yet to be adopted by the Company will not have a material impact on our consolidated financial statements or do not apply to our operations. ​ ​

Business Combinations

Business Combinations	9 Months Ended
	Sep. 30, 2021
Business Combinations
Business Combinations	2. Business Combinations We obtained control of InterXion Holding N.V. (“Interxion”) on March 9, 2020 and completed the Company’s combination with Interxion (“Interxion Combination”) on March 12, 2020 for total equity consideration of approximately

Investments in Properties

Investments in Properties	9 Months Ended
	Sep. 30, 2021
Investments in Properties
Investments in Properties	3. Investments in Properties A summary of our investments in properties as of September 30, 2021 and December 31, 2020 is below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Property Type ​ As of September 30, 2021 ​ ​ As of December 31, 2020 Land ​ $ 1,094,838 ​ ​ $ 1,106,392 Acquired ground lease ​ ​ 6,695 ​ ​ ​ 10,308 Buildings and improvements ​ ​ 21,588,688 ​ ​ ​ 21,335,396 Tenant improvements ​ ​ 694,524 ​ ​ ​ 690,892 ​ ​ ​ 23,384,745 ​ ​ ​ 23,142,988 Accumulated depreciation and amortization ​ ​ (6,159,294) ​ ​ ​ (5,555,221) Investments in operating properties, net ​ ​ 17,225,451 ​ ​ ​ 17,587,767 Construction in progress and space held for development ​ ​ 3,238,451 ​ ​ ​ 2,768,325 Land held for future development ​ ​ 118,091 ​ ​ ​ 226,862 Investments in properties, net ​ $ 20,581,993 ​ ​ $ 20,582,954 ​ ​ Disposition On March 16, 2021 we sold a portfolio of 11 data centers in Europe (four in the United Kingdom, three in the Netherlands, three in France and one in Switzerland) to Ascendas Reit, a CapitaLand sponsored REIT, for total consideration of approximately $680.0 million (subject to customary final adjustments for working capital and other items). The total gain recorded during the three months ended March 31, 2021 as a result of this sale was approximately $333.3 million. We are providing transitional property management services for one year from the closing date at a customary market rate. The assets and liabilities sold were not representative of a significant component of our portfolio, nor did the sale represent a significant shift in our strategy.

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases
Leases	4 Lessor Accounting We generate the majority of our revenue by leasing our operating properties to customers under operating lease agreements. We recognize the total minimum lease payments provided for under the leases on a straight-line basis over the lease term if we determine that it is probable that substantially all of the lease payments will be collected over the lease term. Otherwise, rental revenue is recognized based on the amount contractually due. Generally, under the terms of our leases, the majority of our rental expenses, including common area maintenance, real estate taxes and insurance, are recovered from our customers. We record amounts reimbursed by customers in the period the applicable expenses are incurred, which is generally ratably throughout the term of the lease. Reimbursements are recognized in rental and other services revenue in the condensed consolidated income statements as we are the primary obligor with respect to purchasing and selecting goods and services from third-party vendors and bearing the associated credit risk. Lessee Accounting We lease space at certain of our data centers from third parties and certain equipment under noncancelable lease agreements. Leases for our data centers expire at various dates through 2069. As of September 30, 2021, certain of our data centers, primarily in Europe and Singapore, are subject to ground leases. As of September 30, 2021, the termination dates of these ground leases generally range from 2041 to 2108. In addition, our corporate headquarters along with several regional office locations are subject to leases with termination dates ranging from 2021 to 2028. The leases generally require us to make fixed rental payments that increase at defined intervals during the term of the lease plus pay our share of common area, real estate and utility expenses as incurred. The leases neither contain residual value guarantees nor impose material restrictions or covenants on us. Further, the leases have been classified and accounted for as either operating or finance leases. Rent expense related to operating leases included in rental property operating and maintenance expense in the condensed consolidated income statements amounted to approximately $36.6 million and $34.9 million for the three months ended September 30, 2021 and 2020, respectively, and approximately $108.9 million and $92.8 million for the nine months ended September 30, 2021 and 2020, respectively.

Investments in Unconsolidated E

Investments in Unconsolidated Entities	9 Months Ended
	Sep. 30, 2021
Investments in Unconsolidated Entities.
Investments in Unconsolidated Entities	5. Investments in Unconsolidated Entities See below for a summary of our investments in unconsolidated entities accounted for under the equity method of accounting as presented in our condensed consolidated balance sheets (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Metropolitan ​ Balance as of Balance as of Entity ​ Entity Formed ​ Area ​ % Ownership ​ September 30, 2021 ​ December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ascenty (1) ​ 2019 Brazil / Chile / Mexico 51 % (2) $ 547,398 ​ $ 567,192 Mapletree ​ 2019 ​ Northern Virginia ​ 20 % ​ 175,282 ​ ​ 184,890 Mitsubishi (3) ​ Various Osaka / Tokyo 50 % 392,349 ​ 278,947 Lumen ​ 2012 Hong Kong 50 % 77,987 ​ 86,600 Other ​ Various U.S. / India Various ​ 99,309 ​ 30,529 Total ​ ​ ​ $ 1,292,325 ​ $ 1,148,158 (1) Our maximum exposure to loss related to this unconsolidated variable interest entity (VIE) is limited to our equity investment in this VIE. (2) Includes an approximate 2% ownership interest held by a non-controlling interest in our entity that holds the investment in the Ascenty entity, which has a carrying value as of September 30, 2021 and December 31, 2020 of approximately $20.2 million and $21.9 million, respectively, and is classified within redeemable noncontrolling interests in our condensed consolidated balance sheet. (3) As of September 30, 2021, we derecognized all assets, liabilities and 50% noncontrolling interests related to two joint ventures that were previously consolidated and recognized an equity method investment of $197.0 million based on the value of our 50% noncontrolling interest in the joint ventures. We had concluded that we would consolidate the joint ventures during the development phase of the buildings because we had the power to direct activities that most significantly impact the joint ventures’ economic performance, however, upon the building’s completion and commencing the operational phase, we no longer have the power to direct the activities that most significantly impact the joint ventures’ economic performance and deconsolidated the joint ventures and recognized the investment under the equity method. ​ During the three months ended September 30, 2021, the existing unconsolidated partnership between the Company and PGIM Real Estate, the real estate investment management and advisory business of Prudential Financial, completed the sale of a portfolio of 10 data centers in North America for $581 million. PGIM Real Estate owned an 80% interest and the Company owned a 20% interest in the partnership. We recognized a gain of approximately $64 million from the sale of the data centers. This gain is reflected in equity in earnings (loss) of unconsolidated entities in our condensed consolidated income statements. In addition, we received a promote in the amount of $19 million related to the partnership exceeding certain investor return thresholds over the life of the partnership, which is included in fee income and other in our condensed consolidated income statements. ​ The debt of our unconsolidated entities generally is non-recourse to us, except for customary exceptions pertaining to such matters as intentional misuse of funds, environmental conditions, and material misrepresentations.

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2021
Goodwill.
Goodwill	6. Goodwill Goodwill represents the excess of the purchase price over the fair value of net tangible and intangible assets acquired in a business combination. Changes in the value of goodwill at September 30, 2021 as compared to December 31, 2020 were immaterial and driven primarily by changes in exchange rates associated with goodwill balances denominated in foreign currencies. ​

Acquired Intangible Assets and

Acquired Intangible Assets and Liabilities	9 Months Ended
	Sep. 30, 2021
Acquired Intangible Assets and Liabilities
Acquired Intangible Assets and Liabilities	7. Acquired Intangible Assets and Liabilities The following table summarizes our acquired intangible assets and liabilities. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Amounts in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of ​ ​ September 30, 2021 ​ December 31, 2020 ​ ​ ​ Gross Carrying Amount ​ ​ Accumulated Amortization ​ ​ Net Carrying Amount ​ ​ Gross Carrying Amount ​ ​ Accumulated Amortization ​ ​ Net Carrying Amount Customer relationship value ​ $ 2,930,218 ​ $ (697,471) ​ $ 2,232,747 ​ $ 2,993,093 ​ $ (570,886) ​ $ 2,422,207 Acquired in-place lease value ​ ​ 1,338,554 ​ ​ (1,025,673) ​ ​ 312,881 ​ ​ 1,382,563 ​ ​ (1,004,421) ​ ​ 378,142 Other ​ ​ 76,432 ​ ​ (12,904) ​ ​ 63,528 ​ ​ 57,370 ​ ​ (7,107) ​ ​ 50,263 Acquired above-market leases ​ ​ 274,365 ​ ​ (248,085) ​ ​ 26,280 ​ ​ 280,216 ​ ​ (236,923) ​ ​ 43,293 Acquired below-market leases ​ ​ (382,237) ​ ​ 269,599 ​ ​ (112,638) ​ ​ (401,539) ​ ​ 270,648 ​ ​ (130,891) ​ Amortization of customer relationship value, acquired in-place lease value and other intangibles (a component of depreciation and amortization expense) was approximately $65.2 million and $75.1 million for the three months ended September 30, 2021 and 2020, respectively, and approximately $199.3 million and $210.9 million for the nine months ended September 30, 2021 and 2020, respectively. Amortization of acquired below-market leases, net of acquired above-market leases, resulted in a decrease in rental and other services revenue of $(0.7) million and $(2.4) million for the three months ended September 30, 2021 and 2020, respectively, and $(3.3) million and $(8.7) million for the nine months ended September 30, 2021 and 2020, respectively. Estimated annual amortization for each of the five succeeding years and thereafter, commencing October 1, 2021 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Amounts in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer relationship value ​ ​ Acquired in-place lease value ​ ​ Other (1) ​ ​ Acquired above-market leases ​ ​ Acquired below-market leases Remainder of 2021 $ 43,556 ​ $ 18,376 ​ $ 2,055 ​ $ 4,691 ​ $ (4,487) 2022 173,452 ​ 58,514 ​ 8,222 ​ 11,209 ​ (15,934) 2023 172,784 ​ 47,606 ​ 1,484 ​ 4,759 ​ (14,249) 2024 172,204 ​ 40,948 ​ — ​ 2,584 ​ (12,637) 2025 171,702 ​ 35,723 ​ — ​ 1,452 ​ (10,741) Thereafter 1,499,049 ​ 111,714 ​ — ​ 1,585 ​ (54,590) Total $ 2,232,747 ​ $ 312,881 ​ $ 11,761 ​ $ 26,280 ​ $ (112,638) ​ ​ ​ ​ (1) Excludes power grid rights in the amount of approximately $51.8 million that are currently not being amortized. Amortization of these assets will begin once the data centers associated with the power grid rights are placed into service.

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt
Debt	8. Debt On a standalone basis (e.g., excluding its subsidiaries), Digital Realty Trust, Inc. does not have any indebtedness. The Parent is the guarantor or co-guarantor on all debt held by the OP or its subsidiaries. All debt is currently held directly or indirectly by the OP. A summary of outstanding indebtedness of the OP, together with its subsidiaries, as of September 30, 2021 and December 31, 2020 is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 December 31, 2020 ​ ​ Weighted- ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ average ​ ​ Amount ​ average ​ Amount ​ ​ interest rate ​ ​ Outstanding ​ interest rate ​ Outstanding Global revolving credit facilities ​ 0.98 % ​ $ 838,054 ​ 0.91 % $ 540,184 Unsecured term loans ​ — % ​ — ​ 1.20 % 537,470 Unsecured senior notes ​ 2.25 % ​ ​ 13,113,785 ​ 2.49 % ​ 12,096,029 Secured and other debt ​ 3.06 % ​ 242,870 ​ 2.92 % 239,330 Total ​ 2.19 % ​ $ 14,194,709 2.38 % $ 13,413,013 ​ The interest rates presented in the table above represent the interest rates at the end of the periods for the debt outstanding and include the impact of designated interest rate swaps, which effectively fix the interest rates on certain variable rate debt. ​ We borrow in the functional currencies of the countries where we invest. Included in the outstanding balances were borrowings denominated in the following currencies (in thousands, U.S. dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ ​ December 31, 2020 ​ ​ ​ Amount ​ ​ ​ ​ Amount ​ ​ ​ Denomination of Draw Outstanding % of Total ​ Outstanding % of Total U.S. dollar ($) ​ $ 3,497,870 24.7 % ​ $ 3,629,000 27.1 % British pound sterling (£) ​ 2,088,470 14.7 % ​ ​ 2,166,695 ​ 16.2 % Euro ( € ​ ​ 7,569,846 ​ 53.3 % ​ ​ 6,912,142 ​ 51.5 % Other ​ ​ 1,038,523 ​ 7.3 % ​ ​ 705,176 ​ 5.2 % Total ​ $ 14,194,709 ​ ​ ​ $ 13,413,013 ​ ​ ​ The following table provides details of our unsecured senior notes (balances in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aggregate Principal at Issuance ​ ​ Balance as of ​ Borrowing Currency ​ USD ​ Maturity Date ​ September 30, 2021 ​ ​ December 31, 2020 Floating rate notes due 2022 € 300,000 ​ $ 349,800 ​ Sep 23, 2022 $ 347,400 ​ $ 366,480 0.125% notes due 2022 € 300,000 ​ ​ 332,760 ​ Oct 15, 2022 ​ 347,400 ​ ​ 366,480 2.750% notes due 2023 $ 350,000 ​ ​ 350,000 ​ Feb 1, 2023 ​ - ​ ​ 350,000 2.625% notes due 2024 € 600,000 ​ ​ 677,040 ​ Apr 15, 2024 ​ 694,800 ​ ​ 732,960 2.750% notes due 2024 £ 250,000 ​ ​ 324,925 ​ Jul 19, 2024 ​ 336,850 ​ ​ 341,750 4.250% notes due 2025 £ 400,000 ​ ​ 634,480 ​ Jan 17, 2025 ​ 538,960 ​ ​ 546,800 0.625% notes due 2025 € 650,000 ​ ​ 720,980 ​ Jul 15, 2025 ​ 752,700 ​ ​ 794,040 4.750% notes due 2025 $ 450,000 ​ ​ 450,000 ​ Oct 1, 2025 ​ 450,000 ​ ​ 450,000 2.500% notes due 2026 € 1,075,000 ​ ​ 1,224,640 ​ Jan 16, 2026 ​ 1,244,850 ​ ​ 1,313,219 0.200% notes due 2026 CHF 275,000 ​ ​ 298,404 ​ Dec 15, 2026 ​ 295,267 ​ ​ - 3.700% notes due 2027 $ 1,000,000 ​ ​ 1,000,000 ​ Aug 15, 2027 ​ 1,000,000 ​ ​ 1,000,000 1.125% notes due 2028 € 500,000 ​ ​ 548,550 ​ Apr 09, 2028 ​ 579,000 ​ ​ 610,800 4.450% notes due 2028 $ 650,000 ​ ​ 650,000 ​ Jul 15, 2028 ​ 650,000 ​ ​ 650,000 0.550% notes due 2029 CHF 270,000 ​ ​ 292,478 ​ Apr 16, 2029 ​ 289,898 ​ ​ - 3.300% notes due 2029 £ 350,000 ​ ​ 454,895 ​ Jul 19, 2029 ​ 471,590 ​ ​ 478,450 3.600% notes due 2029 $ 900,000 ​ ​ 900,000 ​ Jul 01, 2029 ​ 900,000 ​ ​ 900,000 1.500% notes due 2030 € 750,000 ​ ​ 831,900 ​ Mar 15, 2030 ​ 868,500 ​ ​ 916,200 3.750% notes due 2030 £ 550,000 ​ ​ 719,825 ​ Oct 17, 2030 ​ 741,070 ​ ​ 751,850 1.250% notes due 2031 € 500,000 ​ ​ 560,950 ​ Feb 1, 2031 ​ 579,000 ​ ​ 610,800 0.625% notes due 2031 € 1,000,000 ​ ​ 1,220,700 ​ Jul 15, 2031 ​ 1,158,000 ​ ​ - 1.000% notes due 2032 € 750,000 ​ ​ 874,500 ​ Jan 15, 2032 ​ 868,500 ​ ​ 916,200 ​ ​ ​ ​ ​ ​ ​ ​ $ 13,113,785 ​ $ 12,096,029 Unamortized discounts, net of premiums ​ ​ ​ ​ ​ ​ ​ ​ (35,156) ​ ​ (34,988) Deferred financing costs, net ​ ​ ​ ​ ​ ​ ​ ​ (65,839) ​ ​ (64,031) Total unsecured senior notes, net of discount and deferred financing costs ​ ​ ​ ​ ​ ​ ​ $ 13,012,790 ​ $ 11,997,010 ​ The indentures governing our senior notes contain certain covenants, including (1) a leverage ratio not to exceed 60%, (2) a secured debt leverage ratio not to exceed 40% and (3) an interest coverage ratio of greater than 1.50. The covenants also require us to maintain total unencumbered assets of not less than 150% of the aggregate principal amount of unsecured debt. At September 30, 2021, we were in compliance with each of these financial covenants. The table below summarizes our debt maturities and principal payments as of September 30, 2021 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global Revolving ​ Unsecured ​ ​ ​ ​ ​ ​ ​ Credit Facilities (1) Senior Notes Secured and Other Debt Total Debt Remainder of 2021 ​ $ — ​ $ — ​ $ — ​ $ — 2022 ​ ​ — ​ ​ 694,800 ​ ​ — ​ ​ 694,800 2023 ​ ​ 753,396 ​ ​ — ​ ​ 104,000 ​ ​ 857,396 2024 ​ 84,658 ​ 1,031,650 ​ — ​ 1,116,308 2025 ​ — ​ 1,741,660 ​ — ​ 1,741,660 Thereafter ​ — ​ 9,645,675 ​ 138,870 ​ 9,784,545 Subtotal ​ $ 838,054 ​ $ 13,113,785 ​ $ 242,870 ​ $ 14,194,709 Unamortized net discounts ​ — ​ (35,156) ​ — ​ (35,156) Unamortized deferred financing costs ​ ​ (5,732) ​ ​ (65,839) ​ ​ (443) ​ ​ (72,014) Total ​ $ 832,322 ​ $ 13,012,790 ​ $ 242,427 ​ $ 14,087,539 (1) The global revolving credit facility is 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. ​ During the nine months ended September 30, 2021, we recognized a loss on early extinguishment of debt of approximately $18.3 million, mostly due to the redemption of the 2.750% Notes due 2023 in February. During the three and nine months ended September 30, 2020, we recognized a loss on early extinguishment of debt of approximately $53.0 million and $53.6 million, respectively, primarily due to the redemption of the 3.950% 2022 Notes and 3.625% 2022 Notes in August 2020. ​ On July 15, 2021, Digital Intrepid Holding B.V., an indirect wholly owned holding and finance subsidiary of the Operating Partnership through which the Interxion business is held, issued and sold CHF 275 million aggregate principal amount of 0.20% Guaranteed Notes due 2026 (the “2026 Notes”) and CHF 270 million aggregate principal amount of 0.55% Guaranteed Notes due 2029 (the “2029 Notes” and together with the 2026 Notes, the “Swiss Franc Notes”). The Swiss Franc Notes are senior unsecured obligations of Digital Intrepid Holding B.V. and are fully and unconditionally guaranteed by Digital Realty Trust, Inc. and the Operating Partnership. Net proceeds from the offering of the Swiss Franc Notes were approximately CHF 542.3 million (approximately $590.9 million based on the exchange rate on July 15, 2021) after deducting the managers’ commissions and certain offering expenses.

Earnings per Common Share or Un

Earnings per Common Share or Unit	9 Months Ended
	Sep. 30, 2021
Earnings per Common Share or Unit
Earnings per Common Share or Unit	9. Earnings per Common Share or Unit The computation of basic and diluted earnings per share and unit is shown below (in thousands, except share/unit and per share / per unit amounts): ​ Digital Realty Trust, Inc. Earnings per Common Share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2021 2020 2021 2020 Net income (loss) available to common stockholders ​ $ 124,094 ​ $ (37,370) ​ $ 623,869 ​ $ 219,165 ​ Weighted average shares outstanding—basic ​ 283,105,966 ​ 270,214,413 ​ 282,004,907 ​ 253,377,527 ​ Potentially dilutive common shares: ​ ​ ​ ​ ​ Unvested incentive units ​ 217,652 ​ — ​ 207,826 ​ 103,159 ​ Unvested restricted stock ​ ​ 187,549 ​ ​ — ​ ​ 164,916 ​ ​ 273,755 ​ Forward equity offering ​ 43,816 ​ — ​ — ​ 2,087,607 ​ Market performance-based awards ​ 244,555 ​ — ​ 295,071 ​ 520,531 ​ Weighted average shares outstanding—diluted ​ 283,799,538 ​ 270,214,413 ​ 282,672,720 ​ 256,362,579 ​ Income (loss) per share: ​ ​ ​ ​ ​ Basic ​ $ 0.44 ​ $ (0.14) ​ $ 2.21 ​ $ 0.86 ​ Diluted ​ $ 0.44 ​ $ (0.14) ​ $ 2.21 ​ $ 0.85 ​ ​ Digital Realty Trust, L.P. Earnings per Unit ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2021 2020 2021 2020 Net income (loss) available to common unitholders ​ $ 127,094 ​ $ (38,370) ​ $ 639,869 ​ $ 227,365 ​ Weighted average units outstanding—basic ​ 289,535,213 ​ 278,079,187 ​ 288,897,093 ​ 261,416,412 ​ Potentially dilutive common units: ​ ​ ​ ​ ​ Unvested incentive units ​ 217,652 ​ — ​ 207,826 ​ 103,159 ​ Unvested restricted units ​ ​ 187,549 ​ ​ — ​ ​ 164,916 ​ ​ 273,755 ​ Forward equity offering ​ 43,816 ​ — ​ — ​ 2,087,607 ​ Market performance-based awards ​ 244,555 ​ — ​ 295,071 ​ 520,531 ​ Weighted average units outstanding—diluted ​ 290,228,785 ​ 278,079,187 ​ 289,564,906 ​ 264,401,464 ​ Income (loss) per unit: ​ ​ ​ ​ ​ Basic ​ $ 0.44 ​ $ (0.14) ​ $ 2.21 ​ $ 0.87 ​ Diluted ​ $ 0.44 ​ $ (0.14) ​ $ 2.21 ​ $ 0.86 ​ ​ The below table shows the securities that would be antidilutive or not dilutive to the calculation of earnings per share and unit. Common units of the Operating Partnership not owned by Digital Realty Trust, Inc. were excluded only from the calculation of earnings per share as they are not applicable to the calculation of earnings per unit. All other securities shown below were excluded from the calculation of both earnings per share and earnings per unit. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2021 2020 2021 2020 Unvested incentive units ​ — ​ 154,178 ​ — ​ — ​ Unvested restricted stock ​ — ​ 2,459,322 ​ — ​ — ​ Shares subject to Forward Equity Offering ​ — ​ 512,442 ​ 6,250,000 ​ — ​ Market performance-based awards ​ — ​ 318,386 ​ — ​ — ​ Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc. (excluded only from calculation of earnings per share) 6,429,247 7,864,774 6,892,186 8,038,885 Potentially dilutive Series C Cumulative Redeemable Perpetual Preferred Stock — 1,417,537 721,665 1,485,177 Potentially dilutive Series G Cumulative Redeemable Preferred Stock — 1,757,668 — 1,841,538 Potentially dilutive Series I Cumulative Redeemable Preferred Stock — 1,304,786 — 1,692,046 Potentially dilutive Series J Cumulative Redeemable Preferred Stock 1,319,861 1,403,969 1,366,311 1,470,961 Potentially dilutive Series K Cumulative Redeemable Preferred Stock ​ 1,387,905 ​ 1,476,350 ​ 1,436,750 ​ 1,546,796 ​ Potentially dilutive Series L Cumulative Redeemable Preferred Stock ​ 2,276,479 ​ 2,421,547 ​ 2,356,596 ​ 2,535,929 ​ Total 11,413,492 21,090,959 19,023,508 18,611,332 ​

Equity and Capital

Equity and Capital	9 Months Ended
	Sep. 30, 2021
Equity and Capital
Equity and Capital	10. Equity and Capital Equity Distribution Agreement Digital Realty Trust, Inc. and Digital Realty Trust, L.P., are parties to an at-the-market (ATM) equity offering sales agreement dated January 4, 2019, as amended in 2020 (the “Sales Agreement”). Pursuant to the Sales Agreement, Digital Realty Trust, Inc. can issue and sell common stock having an aggregate offering price of up to $1.0 billion through various named agents from time to time. For the nine months ended September 30, 2021, Digital Realty Trust, Inc. issued approximately 1.1 million common shares under the Sales Agreement at an average price of $161.92 per share Forward Equity Sale On September 13, 2021, Digital Realty Trust, Inc. completed an underwritten public offering of 6,250,000 shares of its common stock, all of which were offered in connection with forward sale agreements it entered into with certain financial institutions acting as forward purchasers. The forward purchasers borrowed and sold an aggregate of 6,250,000 shares of Digital Realty Trust, Inc.’s common stock in the public offering. Digital Realty Trust, Inc. did not receive any proceeds from the sale of our common stock by the forward purchasers in the public offering. The Company may receive gross proceeds of approximately $1.0 billion (based on the offering price of $155.69 per share) upon full physical settlement of the forward sale agreements, which is to be no later than March 13, 2023. Upon physical settlement of the forward sale agreements, the Operating Partnership is expected to issue general partner common partnership units to Digital Realty Trust, Inc. in exchange for contribution of the net proceeds. The forward purchasers had also granted to the underwriters an option, exercisable until October 13, 2021, to purchase up to 937,500 additional shares at a price of $155.69 , which represents the initial price to the public less the underwriting discount. The underwriters opted not to exercise their option within the specified time period. We account for our forward equity sales agreements in accordance with the accounting guidance governing financial instruments and derivatives. As of September 30, 2021, none of our forward equity sales agreements were deemed to be liabilities as they did not embody obligations to repurchase our shares, nor did they embody obligations to issue a variable number of shares for which the monetary value was predominantly fixed, varied with something other than the fair value of our shares, or varied inversely in relation to our shares. We also evaluated whether the agreements met the derivatives and hedging guidance scope exception to be accounted for as equity instruments and concluded that the agreements can be classified as equity contracts based on the following assessment: (i) none of the agreements’ exercise contingencies were based on observable markets or indices besides those related to the market for our own stock price and operations; and (ii) none of the settlement provisions precluded the agreements from being indexed to our own stock. Noncontrolling Interests Noncontrolling interests are interests in consolidated subsidiaries that are not owned by Digital Realty Trust, Inc. The following table details the components of noncontrolling interests (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ December 31, 2020 Noncontrolling interests in Operating Partnership ​ $ 459,918 ​ $ 608,980 Noncontrolling interests in consolidated entities ​ ​ 32,324 ​ ​ 119,659 Total noncontrolling interests ​ $ 492,242 ​ $ 728,639 ​ ​ The following table shows the ownership interest noncontrolling interests hold in the Operating Partnership as well as the interest held by Digital Realty Trust, Inc. as of the respective dates shown below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ December 31, 2020 ​ ​ Number of ​ Percentage of ​ Number of ​ Percentage of ​ ​ units total units total Digital Realty Trust, Inc. ​ 283,846,802 ​ 97.8 % 280,289,726 ​ 97.2 % Noncontrolling interests consist of: ​ ​ ​ Common units held by third parties 4,977,994 1.7 % 6,212,369 2.2 % Incentive units held by employees and directors (see Note 12) 1,516,071 0.5 % 1,833,898 0.6 % ​ 290,340,867 100.0 % 288,335,993 100.0 % ​ Limited partners have the right to require the Operating Partnership to redeem all or a portion 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 its 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. The common units and incentive units of the Operating Partnership are classified within equity, except for certain common units issued to certain former DuPont Fabros Technology, L.P. unitholders in the Company’s acquisition of DuPont Fabros Technology, Inc., which are subject to certain restrictions and, accordingly, are not presented as permanent equity in the condensed consolidated balance sheet. The redemption value of the noncontrolling Operating Partnership common units and the vested incentive units was approximately $888.4 million and $1,078.9 million based on the closing market price of Digital Realty Trust, Inc. common stock on September 30, 2021 and December 31, 2020, respectively. The following table shows activity for the noncontrolling interests in the Operating Partnership for the nine months ended September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Units Incentive Units Total As of December 31, 2020 6,212,369 1,833,898 8,046,267 Redemption of common units for shares of Digital Realty Trust, Inc. common stock (1) (1,234,375) — (1,234,375) Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (1) — (668,451) (668,451) Incentive units issued upon achievement of market performance condition — 219,652 219,652 Grant of incentive units to employees and directors — 132,848 132,848 Cancellation / forfeitures of incentive units held by employees and directors — (1,876) (1,876) As of September 30, 2021 4,977,994 1,516,071 6,494,065 (1) These redemptions and conversions were recorded as a reduction to noncontrolling interests in the Operating Partnership and an increase to common stock and additional paid in capital based on the book value per unit in the accompanying consolidated balance sheet of Digital Realty Trust, Inc. ​ Dividends and Distributions Digital Realty Trust, Inc. Dividends ​ Digital Realty Trust, Inc. declared and paid the following dividends on its common and preferred stock for the nine months ended September 30, 2021 (in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Series C ​ Series J ​ Series K ​ Series L ​ ​ ​ ​ ​ ​ ​ ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ ​ Common ​ Date dividend declared Dividend payment date Stock Stock Stock Stock ​ ​ Stock ​ February 25, 2021 ​ March 31, 2021 ​ $ 3,333 ​ $ 2,625 ​ $ 3,071 ​ $ 4,485 ​ ​ $ 326,965 ​ May 10, 2021 ​ June 30, 2021 ​ ​ — (1) ​ 2,625 ​ ​ 3,071 ​ ​ 4,485 ​ ​ ​ 328,279 ​ August 10, 2021 ​ September 30, 2021 ​ ​ — ​ ​ 2,625 ​ ​ 3,071 ​ ​ 4,485 ​ ​ ​ 329,720 ​ ​ ​ ​ ​ $ 3,333 ​ $ 7,875 ​ $ 9,213 ​ $ 13,455 ​ ​ $ 984,964 ​ Annual rate of dividend per share ​ ​ $ 1.65625 $ 1.31250 ​ $ 1.46250 ​ $ 1.30000 ​ ​ $ 4.64000 (1) These shares were redeemed on May 17, 2021. Digital Realty Trust, L.P. Distributions All distributions on the Operating Partnership’s units are at the discretion of Digital Realty Trust, Inc.’s Board of Directors. The table below shows the distributions declared and paid by the Operating Partnership on its common and preferred units for the nine months ended September 30, 2021 (in thousands, except for per unit data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Series C ​ Series J ​ Series K ​ Series L ​ ​ ​ ​ ​ ​ ​ ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ Common ​ Date distribution declared Distribution payment date Units Units Units ​ Units ​ Units ​ February 25, 2021 ​ March 31, 2021 ​ $ 3,333 ​ $ 2,625 ​ $ 3,071 ​ $ 4,485 ​ $ 336,041 ​ May 10, 2021 ​ June 30, 2021 ​ — (1) 2,625 ​ 3,071 ​ 4,485 ​ 336,543 ​ August 10, 2021 ​ September 30, 2021 ​ — ​ 2,625 ​ 3,071 ​ 4,485 ​ 337,447 ​ ​ ​ ​ ​ $ 3,333 ​ $ 7,875 ​ $ 9,213 ​ $ 13,455 ​ $ 1,010,031 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Annual rate of distribution per unit ​ ​ ​ $ 1.65625 ​ $ 1.31250 ​ $ 1.46250 ​ $ 1.30000 ​ $ 4.64000 ​ ​ ​ ​ ​ ​ ​ (1) These units were redeemed on May 17, 2021 .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss), Net	9 Months Ended
	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net.
Accumulated Other Comprehensive Loss, Net	11. Accumulated Other Comprehensive Income (Loss), Net The accumulated balances for each item within accumulated other comprehensive income (loss) are shown below (in thousands) for Digital Realty Trust, Inc. and separately for Digital Realty Trust, L.P: ​ ​ Digital Realty Trust, Inc. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency ​ Cash flow ​ Foreign currency net ​ Accumulated other ​ ​ translation ​ hedge ​ investment hedge ​ comprehensive ​ adjustments adjustments adjustments income (loss), net Balance as of December 31, 2020 ​ $ 98,760 ​ $ (2,630) ​ $ 38,880 ​ $ 135,010 Net current period change ​ (248,367) ​ 753 ​ — ​ (247,614) Reclassification to interest expense from interest ​ — ​ 1,044 ​ — ​ 1,044 Balance as of September 30, 2021 ​ $ (149,607) ​ $ (833) ​ $ 38,880 ​ $ (111,560) ​ Digital Realty Trust, L.P. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency ​ ​ ​ Foreign currency net ​ Accumulated other ​ ​ translation ​ Cash flow hedge ​ investment hedge ​ comprehensive ​ adjustments adjustments adjustments income (loss) Balance as of December 31, 2020 ​ $ 98,946 ​ $ (3,823) ​ $ 39,677 ​ $ 134,800 Net current period change ​ (254,444) ​ 772 ​ — ​ (253,672) Reclassification to interest expense from interest ​ — ​ 1,070 ​ — ​ 1,070 Balance as of September 30, 2021 ​ $ (155,498) ​ $ (1,981) ​ $ 39,677 ​ $ (117,802) ​

Incentive Plans

Incentive Plans	9 Months Ended
	Sep. 30, 2021
Incentive Plans
Incentive Plans	12. Incentive Plans 2014 Incentive Award Plan The Company provides incentive awards in the form of common stock or awards convertible into common stock pursuant to the Digital Realty Trust, Inc., Digital Services, Inc. and Digital Realty Trust, L.P. 2014 Incentive Award Plan, as amended (the “Incentive Plan”). The Incentive Plan allows for the issuance of a variety of awards. The major categories of awards that can be issued under the Incentive Plan include: Long-Term Incentive Units (“LTIP Units”) : two Service-Based Restricted Stock Units two Market Performance-Based Awards (“the Awards”) : In January 2021, following the completion of the applicable Market Performance Period, the Compensation Committee determined that the high level had been achieved for the 2018 awards and, accordingly, 240,377 Class D units (including 20,725 distribution equivalent units that immediately vested on December 31, 2020) and 63,498 market performance-based Restricted Stock Units performance vested, subject to service-based vesting. On February 27, 2021, 50% of the 2018 awards vested and the remaining 50% will vest on February 27, 2022, subject to continued employment through the applicable vesting date. The targets and vesting thresholds for these awards remain unchanged from the targets and thresholds disclosed in the 2020 Form 10-K as filed with the SEC. The fair values of the awards granted were measured using a Monte Carlo simulation to estimate the probability of the market vesting condition being satisfied. The Company’s achievement of the market vesting condition is contingent on its TSR over a three-year market performance period, relative to the TSR of the MSCI US REIT Index. The Monte Carlo simulation is a probabilistic technique based on the underlying theory of the Black-Scholes formula, which was run for 100,000 trials to determine the fair value of the awards. For each trial, the payoff to an award is calculated at the settlement date and is then discounted to the grant date at a risk-free interest rate. The total expected value of the awards on the grant date was determined by multiplying the average value per award over all trials by the number of awards granted. Assumptions used in the valuations are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ Expected Stock Price Risk-Free Interest ​ Award Date Volatility Rate ​ February 19, 2020 ​ 22 % 1.39 % February 20, 2020 ​ 22 % 1.35 % January 1, 2021 ​ 27 % 0.17 % February 25, 2021 ​ 26 % 0.31 % ​ The grant date fair value of the Class D unit and market performance-based Restricted Stock Unit awards was approximately $25.0 million and $17.2 million for the nine months ended September 30, 2021 and 2020, respectively. This amount will be recognized as compensation expense on a straight-line basis over the expected service period of approximately four years. Other Items : two As of September 30, 2021, approximately 5.5 million shares of common stock, including awards that can be converted to or exchanged for shares of common stock, remained available for future issuance under the Incentive Plan. Each LTIP unit and each Class D unit issued under the Incentive Plan counts as one share of common stock for purposes of calculating the limit on shares that may be issued under the Incentive Plan and the individual award limits set forth therein. Below is a summary of compensation expense and unearned compensation (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Expected ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ period to ​ ​ Deferred Compensation ​ Unearned Compensation recognize ​ ​ Expensed ​ Capitalized ​ As of ​ As of unearned ​ Three Months Ended September 30, September 30, ​ December 31, compensation Type of incentive award 2021 2020 2021 2020 2021 2020 (in years) Long-term incentive units ​ $ 2.8 ​ $ 3.3 ​ $ — ​ $ 0.1 ​ $ 21.2 ​ $ 15.1 2.1 Performance-based awards ​ 6.4 ​ 6.8 ​ 0.2 ​ 0.1 ​ 41.9 ​ 34.4 2.2 Service-based restricted stock units ​ 4.6 ​ 3.8 ​ 0.9 ​ 0.8 ​ 50.9 ​ 41.5 2.6 Interxion awards ​ ​ 3.1 ​ ​ 4.8 ​ ​ — ​ ​ — ​ ​ 10.5 ​ ​ 27.2 ​ 1.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ 2021 2020 2021 2020 Long-term incentive units ​ $ 8.7 ​ $ 9.6 ​ $ 0.1 ​ $ 0.2 Performance-based awards ​ 21.3 ​ 18.2 ​ 0.7 ​ 0.6 Service-based restricted stock units ​ ​ 13.7 ​ ​ 10.4 ​ ​ 2.5 ​ ​ 2.3 Interxion awards ​ 17.7 ​ 14.9 ​ — ​ — ​ ​ Activity for LTIP Units and service-based Restricted Stock Units for the nine months ended September 30, 2021 is shown below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ ​ ​ ​ Grant Date Fair ​ Unvested Long-term Incentive Units ​ Units Value ​ Unvested, beginning of period 235,535 ​ $ 122.22 ​ Granted 132,848 ​ 138.16 ​ Vested (126,826) ​ 122.56 ​ Cancelled or expired (1,876) ​ 128.38 ​ Unvested, end of period 239,681 ​ $ 130.83 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ ​ ​ ​ Grant Date Fair ​ Unvested Restricted Stock Shares Value ​ Unvested, beginning of period 783,219 ​ $ 123.04 ​ Granted 258,414 ​ 136.75 ​ Vested (381,179) ​ 122.12 ​ Cancelled or expired (49,817) ​ 110.52 ​ Unvested, end of period 610,637 ​ $ 130.44 ​ ​ Interxion Equity Plans On March 9, 2020, in connection with the Interxion Combination, certain outstanding awards granted under various Interxion equity plans were assumed by Digital Realty Trust, Inc. and converted into adjusted equity-based awards of Digital Realty Trust, Inc. common stock in accordance with the terms of the Purchase Agreement for the Interxion Combination. All such awards will continue to be governed by the terms of the applicable Interxion equity plan and underlying award agreement evidencing the award. Approximately 0.6 million shares of Digital Realty Trust, Inc. common stock are registered and issuable pursuant to such awards. The impact of these plans is included in the tables above.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2021
Derivative Instruments
Derivative Instruments	​ 13. Derivative Instruments As of September 30, 2021, there was no impact from netting arrangements as the Company did not have any derivatives in asset positions. There have been no significant changes to our policy or strategy from what was disclosed in our 2020 Form 10-K. A summary of our outstanding interest rate derivative instruments is shown in the subsequent table (in thousands). Summary of Outstanding Interest Rate Derivatives ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at Significant Other Notional Amount ​ ​ ​ ​ ​ ​ ​ ​ ​ Observable Inputs (Level 2) As of ​ As of ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of September 30, ​ December 31, ​ Type of ​ Strike ​ Effective ​ Expiration ​ September 30, ​ December 31, 2021 2020 Derivative Rate Date Date 2021 2020 ​ ​ ​ ​ ​ 104,000 ​ 104,000 ​ Swap 1.435 ​ Jan 15, 2016 ​ Jan 15, 2023 ​ (1,727) ​ (2,773) ​ — ​ 77,352 ​ Swap 0.779 ​ Jan 15, 2016 ​ Jan 15, 2021 ​ — ​ (9) $ 104,000 ​ $ 181,352 ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (1,727) ​ $ (2,782) ​ ​ As of September 30, 2021, we estimate that an additional $1.4 million will be reclassified as an increase to interest expense during the twelve months ended March 31, 2022, when the hedged forecasted transactions impact earnings.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2021
Fair Value of Financial Instruments
Fair Value of Financial Instruments	14. Fair Value of Financial Instruments There have been no significant changes in our policy for fair value measurements from what was disclosed in our 2020 Form 10-K. As of September 30, 2021 and December 31, 2020, the carrying amounts of certain financial instruments, including cash and cash equivalents, accounts and notes receivable, accounts payable and accrued expenses were representative of their fair values. The carrying value of our global revolving credit facilities and unsecured term loans approximates estimated fair value, because these liabilities have variable interest rates and our credit ratings have remained stable. Differences between the carrying value and fair value of our unsecured senior notes and secured debt are caused by differences in interest rates or borrowing spreads that were available to us on September 30, 2021 and December 31, 2020 as compared to those in effect when the debt was issued or assumed. A comparison of estimated fair value and carrying value of our debt is shown in the subsequent table (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Categorization ​ As of September 30, 2021 ​ As of December 31, 2020 ​ ​ under the fair value ​ Estimated Fair ​ ​ ​ ​ Estimated Fair ​ ​ ​ ​ hierarchy Value Carrying Value Value Carrying Value Global revolving credit facilities Level 2 ​ $ 838,054 ​ $ 838,054 ​ $ 540,184 ​ $ 540,184 Unsecured term loans Level 2 ​ — ​ — ​ 537,470 ​ 537,470 Unsecured senior notes (1) Level 2 ​ 13,859,557 ​ 13,113,785 ​ 13,359,960 ​ 12,096,029 Secured debt (1) Level 2 ​ 250,015 ​ 242,870 ​ 242,051 ​ 239,326 ​ ​ ​ ​ $ 14,947,626 ​ $ 14,194,709 ​ $ 14,679,665 ​ $ 13,413,009 (1) Valuations for our unsecured senior notes and secured debt are determined based on the expected future payments discounted at risk-adjusted rates and quoted market prices .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies.
Commitments and Contingencies	15. Commitments and Contingencies Our properties require periodic investments of capital for tenant-related capital expenditures and for general capital improvements including ground up construction. From time to time in the normal course of our business, we enter into various construction contracts with third parties that may obligate us to make payments. At September 30, 2021, we had open commitments, including amounts reimbursable by customers of approximately $47.2 million, related to construction contracts of approximately $1.5 billion. In the ordinary course of our business, we may become subject to various legal proceedings. As of September 30, 2021, we were not a party to any legal proceedings which we believe would have a material adverse effect on our operations or financial position. ​

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2021
Supplemental Cash Flow Information
Supplemental Cash Flow Information	16. Supplemental Cash Flow Information Cash, cash equivalents, and restricted cash balances as of September 30, 2021, and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of (Amounts in thousands) September 30, 2021 December 31, 2020 Cash and cash equivalents ​ $ 116,002 ​ $ 108,501 Restricted cash (included in other assets) ​ 11,090 ​ 15,151 Total ​ $ 127,092 ​ $ 123,652 ​ ​ We paid $240.9 million and $261.2 million for interest, net of amounts capitalized, for the nine months ended September 30, 2021 and 2020, respectively. ​ We paid $19.6 million and $15.3 million for income taxes, net of refunds, for the nine months ended September 30, 2021 and 2020, respectively.

General (Policies)

General (Policies)	9 Months Ended
	Sep. 30, 2021
General
Business	Business ​ Digital Realty Trust, Inc. (the Parent), through its controlling interest in Digital Realty Trust, L.P. (the Operating Partnership or the OP) and the subsidiaries of the OP (collectively, we, our, us or the Company), is a leading global provider of data center (including colocation and interconnection) solutions for customers across a variety of industry verticals ranging from cloud and information technology services, social networking and communications to financial services, manufacturing, energy, healthcare, and consumer products. The OP, a Maryland limited partnership, is the entity through which the Parent, a Maryland corporation, conducts its business of owning, acquiring, developing and operating data centers. The Parent operates as a REIT for federal income tax purposes.
Basis of Presentation	Basis of Presentation The accompanying interim condensed consolidated financial statements include all accounts of the Parent, the OP and the subsidiaries of the OP. The notes to the condensed consolidated financial statements have been combined. ​ The Parent’s only material asset is its ownership of partnership interests of the OP. As a result, the Parent generally does not conduct business itself, other than acting as the sole general partner of the OP, issuing public securities from time to time and guaranteeing certain unsecured debt of the OP and certain of its subsidiaries and affiliates. The Parent has not issued any debt but guarantees the unsecured debt of the OP and certain of its subsidiaries and affiliates. ​ The OP holds substantially all the assets of the Company. The OP conducts the operations of the business and has no publicly traded equity. Except for net proceeds from public equity issuances by the Parent, which are generally contributed to the OP in exchange for partnership units, the OP generally generates the capital required by the Company’s business primarily through the OP’s operations, by the OP’s or its affiliates’ direct or indirect incurrence of indebtedness or through the issuance of partnership units.
Management Estimates and Assumptions	Management Estimates and Assumptions ​ 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, liabilities, revenue, and expenses. We evaluate our estimates on an ongoing basis. We base our estimates on historical experience, current market conditions, and various other assumptions that we believe to be reasonable under the circumstances. Examples of estimates and assumptions include: the probability of collection of lease payments from customers, the recoverability of the carrying values of investments in real estate, the fair value of share-based compensation awards, loss contingencies, the fair value of and/or potential impairment of goodwill and intangible assets, useful lives of tangible and intangible assets, and the fair value of customer relationships, buildings & improvements, and other tangible and intangible assets acquired in business combinations and asset acquisitions. Actual results and outcomes may differ from management’s estimates and assumptions due to risks and uncertainties. ​ The Company is closely monitoring the impact of the COVID-19 pandemic on all aspects of its business and geographies, including how the pandemic is impacting the Company’s customers and business partners. While the Company has not incurred significant disruptions during the nine months ended September 30, 2021 from the COVID-19 pandemic, we are unable to predict the impact the COVID-19 pandemic will have on the Company’s financial condition, results of operations and cash flows due to numerous uncertainties.
New Accounting Pronouncements	New Accounting Pronouncements ​ In December 2019, the Financial Accounting Standards Board (FASB) issued updated guidance for the accounting for income taxes. The updated guidance is intended to simplify the accounting for income taxes by removing several exceptions contained in existing guidance and amending other existing guidance to simplify several other income tax accounting matters. The Company adopted the updated guidance for the quarter ended March 31, 2021. The adoption of this guidance did not have a material effect on the Company’s results of operations, financial position or liquidity. ​ We determined that all other recently issued accounting pronouncements that have yet to be adopted by the Company will not have a material impact on our consolidated financial statements or do not apply to our operations.

Investments in Properties (Tabl

Investments in Properties (Tables)	9 Months Ended
	Sep. 30, 2021
Investments in Properties
Schedule of Investments in Properties	A summary of our investments in properties as of September 30, 2021 and December 31, 2020 is below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Property Type ​ As of September 30, 2021 ​ ​ As of December 31, 2020 Land ​ $ 1,094,838 ​ ​ $ 1,106,392 Acquired ground lease ​ ​ 6,695 ​ ​ ​ 10,308 Buildings and improvements ​ ​ 21,588,688 ​ ​ ​ 21,335,396 Tenant improvements ​ ​ 694,524 ​ ​ ​ 690,892 ​ ​ ​ 23,384,745 ​ ​ ​ 23,142,988 Accumulated depreciation and amortization ​ ​ (6,159,294) ​ ​ ​ (5,555,221) Investments in operating properties, net ​ ​ 17,225,451 ​ ​ ​ 17,587,767 Construction in progress and space held for development ​ ​ 3,238,451 ​ ​ ​ 2,768,325 Land held for future development ​ ​ 118,091 ​ ​ ​ 226,862 Investments in properties, net ​ $ 20,581,993 ​ ​ $ 20,582,954

Investments in Unconsolidated_2

Investments in Unconsolidated Entities (Tables)	9 Months Ended
	Sep. 30, 2021
Investments in Unconsolidated Entities.
Summary of Financial Information for Unconsolidated Entities	See below for a summary of our investments in unconsolidated entities accounted for under the equity method of accounting as presented in our condensed consolidated balance sheets (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Metropolitan ​ Balance as of Balance as of Entity ​ Entity Formed ​ Area ​ % Ownership ​ September 30, 2021 ​ December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ascenty (1) ​ 2019 Brazil / Chile / Mexico 51 % (2) $ 547,398 ​ $ 567,192 Mapletree ​ 2019 ​ Northern Virginia ​ 20 % ​ 175,282 ​ ​ 184,890 Mitsubishi (3) ​ Various Osaka / Tokyo 50 % 392,349 ​ 278,947 Lumen ​ 2012 Hong Kong 50 % 77,987 ​ 86,600 Other ​ Various U.S. / India Various ​ 99,309 ​ 30,529 Total ​ ​ ​ $ 1,292,325 ​ $ 1,148,158 (1) Our maximum exposure to loss related to this unconsolidated variable interest entity (VIE) is limited to our equity investment in this VIE. (2) Includes an approximate 2% ownership interest held by a non-controlling interest in our entity that holds the investment in the Ascenty entity, which has a carrying value as of September 30, 2021 and December 31, 2020 of approximately $20.2 million and $21.9 million, respectively, and is classified within redeemable noncontrolling interests in our condensed consolidated balance sheet. (3) As of September 30, 2021, we derecognized all assets, liabilities and 50% noncontrolling interests related to two joint ventures that were previously consolidated and recognized an equity method investment of $197.0 million based on the value of our 50% noncontrolling interest in the joint ventures. We had concluded that we would consolidate the joint ventures during the development phase of the buildings because we had the power to direct activities that most significantly impact the joint ventures’ economic performance, however, upon the building’s completion and commencing the operational phase, we no longer have the power to direct the activities that most significantly impact the joint ventures’ economic performance and deconsolidated the joint ventures and recognized the investment under the equity method.

Acquired Intangible Assets an_2

Acquired Intangible Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Acquired Intangible Assets and Liabilities
Summary of Acquired Intangible Assets and Liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Amounts in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of ​ ​ September 30, 2021 ​ December 31, 2020 ​ ​ ​ Gross Carrying Amount ​ ​ Accumulated Amortization ​ ​ Net Carrying Amount ​ ​ Gross Carrying Amount ​ ​ Accumulated Amortization ​ ​ Net Carrying Amount Customer relationship value ​ $ 2,930,218 ​ $ (697,471) ​ $ 2,232,747 ​ $ 2,993,093 ​ $ (570,886) ​ $ 2,422,207 Acquired in-place lease value ​ ​ 1,338,554 ​ ​ (1,025,673) ​ ​ 312,881 ​ ​ 1,382,563 ​ ​ (1,004,421) ​ ​ 378,142 Other ​ ​ 76,432 ​ ​ (12,904) ​ ​ 63,528 ​ ​ 57,370 ​ ​ (7,107) ​ ​ 50,263 Acquired above-market leases ​ ​ 274,365 ​ ​ (248,085) ​ ​ 26,280 ​ ​ 280,216 ​ ​ (236,923) ​ ​ 43,293 Acquired below-market leases ​ ​ (382,237) ​ ​ 269,599 ​ ​ (112,638) ​ ​ (401,539) ​ ​ 270,648 ​ ​ (130,891)
Schedule of Estimated Annual Amortization of Acquired of Intangible Assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Amounts in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer relationship value ​ ​ Acquired in-place lease value ​ ​ Other (1) ​ ​ Acquired above-market leases ​ ​ Acquired below-market leases Remainder of 2021 $ 43,556 ​ $ 18,376 ​ $ 2,055 ​ $ 4,691 ​ $ (4,487) 2022 173,452 ​ 58,514 ​ 8,222 ​ 11,209 ​ (15,934) 2023 172,784 ​ 47,606 ​ 1,484 ​ 4,759 ​ (14,249) 2024 172,204 ​ 40,948 ​ — ​ 2,584 ​ (12,637) 2025 171,702 ​ 35,723 ​ — ​ 1,452 ​ (10,741) Thereafter 1,499,049 ​ 111,714 ​ — ​ 1,585 ​ (54,590) Total $ 2,232,747 ​ $ 312,881 ​ $ 11,761 ​ $ 26,280 ​ $ (112,638) ​ ​ ​ ​ (1) Excludes power grid rights in the amount of approximately $51.8 million that are currently not being amortized. Amortization of these assets will begin once the data centers associated with the power grid rights are placed into service.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt
Summary of Outstanding Indebtedness of the Operating Partnership	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 December 31, 2020 ​ ​ Weighted- ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ average ​ ​ Amount ​ average ​ Amount ​ ​ interest rate ​ ​ Outstanding ​ interest rate ​ Outstanding Global revolving credit facilities ​ 0.98 % ​ $ 838,054 ​ 0.91 % $ 540,184 Unsecured term loans ​ — % ​ — ​ 1.20 % 537,470 Unsecured senior notes ​ 2.25 % ​ ​ 13,113,785 ​ 2.49 % ​ 12,096,029 Secured and other debt ​ 3.06 % ​ 242,870 ​ 2.92 % 239,330 Total ​ 2.19 % ​ $ 14,194,709 2.38 % $ 13,413,013 ​
Schedule of Debt In Functional Currencies	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ ​ December 31, 2020 ​ ​ ​ Amount ​ ​ ​ ​ Amount ​ ​ ​ Denomination of Draw Outstanding % of Total ​ Outstanding % of Total U.S. dollar ($) ​ $ 3,497,870 24.7 % ​ $ 3,629,000 27.1 % British pound sterling (£) ​ 2,088,470 14.7 % ​ ​ 2,166,695 ​ 16.2 % Euro ( € ​ ​ 7,569,846 ​ 53.3 % ​ ​ 6,912,142 ​ 51.5 % Other ​ ​ 1,038,523 ​ 7.3 % ​ ​ 705,176 ​ 5.2 % Total ​ $ 14,194,709 ​ ​ ​ $ 13,413,013 ​ ​
Schedule of Unsecured Senior Notes	The following table provides details of our unsecured senior notes (balances in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aggregate Principal at Issuance ​ ​ Balance as of ​ Borrowing Currency ​ USD ​ Maturity Date ​ September 30, 2021 ​ ​ December 31, 2020 Floating rate notes due 2022 € 300,000 ​ $ 349,800 ​ Sep 23, 2022 $ 347,400 ​ $ 366,480 0.125% notes due 2022 € 300,000 ​ ​ 332,760 ​ Oct 15, 2022 ​ 347,400 ​ ​ 366,480 2.750% notes due 2023 $ 350,000 ​ ​ 350,000 ​ Feb 1, 2023 ​ - ​ ​ 350,000 2.625% notes due 2024 € 600,000 ​ ​ 677,040 ​ Apr 15, 2024 ​ 694,800 ​ ​ 732,960 2.750% notes due 2024 £ 250,000 ​ ​ 324,925 ​ Jul 19, 2024 ​ 336,850 ​ ​ 341,750 4.250% notes due 2025 £ 400,000 ​ ​ 634,480 ​ Jan 17, 2025 ​ 538,960 ​ ​ 546,800 0.625% notes due 2025 € 650,000 ​ ​ 720,980 ​ Jul 15, 2025 ​ 752,700 ​ ​ 794,040 4.750% notes due 2025 $ 450,000 ​ ​ 450,000 ​ Oct 1, 2025 ​ 450,000 ​ ​ 450,000 2.500% notes due 2026 € 1,075,000 ​ ​ 1,224,640 ​ Jan 16, 2026 ​ 1,244,850 ​ ​ 1,313,219 0.200% notes due 2026 CHF 275,000 ​ ​ 298,404 ​ Dec 15, 2026 ​ 295,267 ​ ​ - 3.700% notes due 2027 $ 1,000,000 ​ ​ 1,000,000 ​ Aug 15, 2027 ​ 1,000,000 ​ ​ 1,000,000 1.125% notes due 2028 € 500,000 ​ ​ 548,550 ​ Apr 09, 2028 ​ 579,000 ​ ​ 610,800 4.450% notes due 2028 $ 650,000 ​ ​ 650,000 ​ Jul 15, 2028 ​ 650,000 ​ ​ 650,000 0.550% notes due 2029 CHF 270,000 ​ ​ 292,478 ​ Apr 16, 2029 ​ 289,898 ​ ​ - 3.300% notes due 2029 £ 350,000 ​ ​ 454,895 ​ Jul 19, 2029 ​ 471,590 ​ ​ 478,450 3.600% notes due 2029 $ 900,000 ​ ​ 900,000 ​ Jul 01, 2029 ​ 900,000 ​ ​ 900,000 1.500% notes due 2030 € 750,000 ​ ​ 831,900 ​ Mar 15, 2030 ​ 868,500 ​ ​ 916,200 3.750% notes due 2030 £ 550,000 ​ ​ 719,825 ​ Oct 17, 2030 ​ 741,070 ​ ​ 751,850 1.250% notes due 2031 € 500,000 ​ ​ 560,950 ​ Feb 1, 2031 ​ 579,000 ​ ​ 610,800 0.625% notes due 2031 € 1,000,000 ​ ​ 1,220,700 ​ Jul 15, 2031 ​ 1,158,000 ​ ​ - 1.000% notes due 2032 € 750,000 ​ ​ 874,500 ​ Jan 15, 2032 ​ 868,500 ​ ​ 916,200 ​ ​ ​ ​ ​ ​ ​ ​ $ 13,113,785 ​ $ 12,096,029 Unamortized discounts, net of premiums ​ ​ ​ ​ ​ ​ ​ ​ (35,156) ​ ​ (34,988) Deferred financing costs, net ​ ​ ​ ​ ​ ​ ​ ​ (65,839) ​ ​ (64,031) Total unsecured senior notes, net of discount and deferred financing costs ​ ​ ​ ​ ​ ​ ​ $ 13,012,790 ​ $ 11,997,010
Schedule of Debt Maturities and Principal Maturities	The table below summarizes our debt maturities and principal payments as of September 30, 2021 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global Revolving ​ Unsecured ​ ​ ​ ​ ​ ​ ​ Credit Facilities (1) Senior Notes Secured and Other Debt Total Debt Remainder of 2021 ​ $ — ​ $ — ​ $ — ​ $ — 2022 ​ ​ — ​ ​ 694,800 ​ ​ — ​ ​ 694,800 2023 ​ ​ 753,396 ​ ​ — ​ ​ 104,000 ​ ​ 857,396 2024 ​ 84,658 ​ 1,031,650 ​ — ​ 1,116,308 2025 ​ — ​ 1,741,660 ​ — ​ 1,741,660 Thereafter ​ — ​ 9,645,675 ​ 138,870 ​ 9,784,545 Subtotal ​ $ 838,054 ​ $ 13,113,785 ​ $ 242,870 ​ $ 14,194,709 Unamortized net discounts ​ — ​ (35,156) ​ — ​ (35,156) Unamortized deferred financing costs ​ ​ (5,732) ​ ​ (65,839) ​ ​ (443) ​ ​ (72,014) Total ​ $ 832,322 ​ $ 13,012,790 ​ $ 242,427 ​ $ 14,087,539 (1) The global revolving credit facility is 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.

Earnings per Common Share or _2

Earnings per Common Share or Unit (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings per Common Share or Unit
Summary of Basic and Diluted Earnings Per Share and Unit	The computation of basic and diluted earnings per share and unit is shown below (in thousands, except share/unit and per share / per unit amounts): ​ Digital Realty Trust, Inc. Earnings per Common Share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2021 2020 2021 2020 Net income (loss) available to common stockholders ​ $ 124,094 ​ $ (37,370) ​ $ 623,869 ​ $ 219,165 ​ Weighted average shares outstanding—basic ​ 283,105,966 ​ 270,214,413 ​ 282,004,907 ​ 253,377,527 ​ Potentially dilutive common shares: ​ ​ ​ ​ ​ Unvested incentive units ​ 217,652 ​ — ​ 207,826 ​ 103,159 ​ Unvested restricted stock ​ ​ 187,549 ​ ​ — ​ ​ 164,916 ​ ​ 273,755 ​ Forward equity offering ​ 43,816 ​ — ​ — ​ 2,087,607 ​ Market performance-based awards ​ 244,555 ​ — ​ 295,071 ​ 520,531 ​ Weighted average shares outstanding—diluted ​ 283,799,538 ​ 270,214,413 ​ 282,672,720 ​ 256,362,579 ​ Income (loss) per share: ​ ​ ​ ​ ​ Basic ​ $ 0.44 ​ $ (0.14) ​ $ 2.21 ​ $ 0.86 ​ Diluted ​ $ 0.44 ​ $ (0.14) ​ $ 2.21 ​ $ 0.85 ​ ​ Digital Realty Trust, L.P. Earnings per Unit ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2021 2020 2021 2020 Net income (loss) available to common unitholders ​ $ 127,094 ​ $ (38,370) ​ $ 639,869 ​ $ 227,365 ​ Weighted average units outstanding—basic ​ 289,535,213 ​ 278,079,187 ​ 288,897,093 ​ 261,416,412 ​ Potentially dilutive common units: ​ ​ ​ ​ ​ Unvested incentive units ​ 217,652 ​ — ​ 207,826 ​ 103,159 ​ Unvested restricted units ​ ​ 187,549 ​ ​ — ​ ​ 164,916 ​ ​ 273,755 ​ Forward equity offering ​ 43,816 ​ — ​ — ​ 2,087,607 ​ Market performance-based awards ​ 244,555 ​ — ​ 295,071 ​ 520,531 ​ Weighted average units outstanding—diluted ​ 290,228,785 ​ 278,079,187 ​ 289,564,906 ​ 264,401,464 ​ Income (loss) per unit: ​ ​ ​ ​ ​ Basic ​ $ 0.44 ​ $ (0.14) ​ $ 2.21 ​ $ 0.87 ​ Diluted ​ $ 0.44 ​ $ (0.14) ​ $ 2.21 ​ $ 0.86 ​
Schedule of Antidilutive Securities Excluded from Calculations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2021 2020 2021 2020 Unvested incentive units ​ — ​ 154,178 ​ — ​ — ​ Unvested restricted stock ​ — ​ 2,459,322 ​ — ​ — ​ Shares subject to Forward Equity Offering ​ — ​ 512,442 ​ 6,250,000 ​ — ​ Market performance-based awards ​ — ​ 318,386 ​ — ​ — ​ Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc. (excluded only from calculation of earnings per share) 6,429,247 7,864,774 6,892,186 8,038,885 Potentially dilutive Series C Cumulative Redeemable Perpetual Preferred Stock — 1,417,537 721,665 1,485,177 Potentially dilutive Series G Cumulative Redeemable Preferred Stock — 1,757,668 — 1,841,538 Potentially dilutive Series I Cumulative Redeemable Preferred Stock — 1,304,786 — 1,692,046 Potentially dilutive Series J Cumulative Redeemable Preferred Stock 1,319,861 1,403,969 1,366,311 1,470,961 Potentially dilutive Series K Cumulative Redeemable Preferred Stock ​ 1,387,905 ​ 1,476,350 ​ 1,436,750 ​ 1,546,796 ​ Potentially dilutive Series L Cumulative Redeemable Preferred Stock ​ 2,276,479 ​ 2,421,547 ​ 2,356,596 ​ 2,535,929 ​ Total 11,413,492 21,090,959 19,023,508 18,611,332

Equity and Capital (Tables)

Equity and Capital (Tables)	9 Months Ended
	Sep. 30, 2021
Class of Stock
Summary of Components of Noncontrolling Interests	Noncontrolling interests are interests in consolidated subsidiaries that are not owned by Digital Realty Trust, Inc. The following table details the components of noncontrolling interests (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ December 31, 2020 Noncontrolling interests in Operating Partnership ​ $ 459,918 ​ $ 608,980 Noncontrolling interests in consolidated entities ​ ​ 32,324 ​ ​ 119,659 Total noncontrolling interests ​ $ 492,242 ​ $ 728,639
Ownership Interest In The Operating Partnership	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ December 31, 2020 ​ ​ Number of ​ Percentage of ​ Number of ​ Percentage of ​ ​ units total units total Digital Realty Trust, Inc. ​ 283,846,802 ​ 97.8 % 280,289,726 ​ 97.2 % Noncontrolling interests consist of: ​ ​ ​ Common units held by third parties 4,977,994 1.7 % 6,212,369 2.2 % Incentive units held by employees and directors (see Note 12) 1,516,071 0.5 % 1,833,898 0.6 % ​ 290,340,867 100.0 % 288,335,993 100.0 %
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 nine months ended September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Units Incentive Units Total As of December 31, 2020 6,212,369 1,833,898 8,046,267 Redemption of common units for shares of Digital Realty Trust, Inc. common stock (1) (1,234,375) — (1,234,375) Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (1) — (668,451) (668,451) Incentive units issued upon achievement of market performance condition — 219,652 219,652 Grant of incentive units to employees and directors — 132,848 132,848 Cancellation / forfeitures of incentive units held by employees and directors — (1,876) (1,876) As of September 30, 2021 4,977,994 1,516,071 6,494,065 (1) These redemptions and conversions were recorded as a reduction to noncontrolling interests in the Operating Partnership and an increase to common stock and additional paid in capital based on the book value per unit in the accompanying consolidated balance sheet of Digital Realty Trust, Inc. ​
Schedule of Dividends and Distributions	Digital Realty Trust, Inc. declared and paid the following dividends on its common and preferred stock for the nine months ended September 30, 2021 (in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Series C ​ Series J ​ Series K ​ Series L ​ ​ ​ ​ ​ ​ ​ ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ ​ Common ​ Date dividend declared Dividend payment date Stock Stock Stock Stock ​ ​ Stock ​ February 25, 2021 ​ March 31, 2021 ​ $ 3,333 ​ $ 2,625 ​ $ 3,071 ​ $ 4,485 ​ ​ $ 326,965 ​ May 10, 2021 ​ June 30, 2021 ​ ​ — (1) ​ 2,625 ​ ​ 3,071 ​ ​ 4,485 ​ ​ ​ 328,279 ​ August 10, 2021 ​ September 30, 2021 ​ ​ — ​ ​ 2,625 ​ ​ 3,071 ​ ​ 4,485 ​ ​ ​ 329,720 ​ ​ ​ ​ ​ $ 3,333 ​ $ 7,875 ​ $ 9,213 ​ $ 13,455 ​ ​ $ 984,964 ​ Annual rate of dividend per share ​ ​ $ 1.65625 $ 1.31250 ​ $ 1.46250 ​ $ 1.30000 ​ ​ $ 4.64000 (1) These shares were redeemed on May 17, 2021.
Digital Realty Trust, L.P.
Class of Stock
Schedule of Dividends and Distributions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Series C ​ Series J ​ Series K ​ Series L ​ ​ ​ ​ ​ ​ ​ ​ Preferred ​ Preferred ​ Preferred ​ Preferred ​ Common ​ Date distribution declared Distribution payment date Units Units Units ​ Units ​ Units ​ February 25, 2021 ​ March 31, 2021 ​ $ 3,333 ​ $ 2,625 ​ $ 3,071 ​ $ 4,485 ​ $ 336,041 ​ May 10, 2021 ​ June 30, 2021 ​ — (1) 2,625 ​ 3,071 ​ 4,485 ​ 336,543 ​ August 10, 2021 ​ September 30, 2021 ​ — ​ 2,625 ​ 3,071 ​ 4,485 ​ 337,447 ​ ​ ​ ​ ​ $ 3,333 ​ $ 7,875 ​ $ 9,213 ​ $ 13,455 ​ $ 1,010,031 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Annual rate of distribution per unit ​ ​ ​ $ 1.65625 ​ $ 1.31250 ​ $ 1.46250 ​ $ 1.30000 ​ $ 4.64000 ​ ​ ​ ​ ​ ​ ​ (1) These units were redeemed on May 17, 2021 .

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss), Net (Tables)	9 Months Ended
	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net.
Schedule of Accumulated Other Comprehensive Loss, Net	Digital Realty Trust, Inc. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency ​ Cash flow ​ Foreign currency net ​ Accumulated other ​ ​ translation ​ hedge ​ investment hedge ​ comprehensive ​ adjustments adjustments adjustments income (loss), net Balance as of December 31, 2020 ​ $ 98,760 ​ $ (2,630) ​ $ 38,880 ​ $ 135,010 Net current period change ​ (248,367) ​ 753 ​ — ​ (247,614) Reclassification to interest expense from interest ​ — ​ 1,044 ​ — ​ 1,044 Balance as of September 30, 2021 ​ $ (149,607) ​ $ (833) ​ $ 38,880 ​ $ (111,560) ​ Digital Realty Trust, L.P. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency ​ ​ ​ Foreign currency net ​ Accumulated other ​ ​ translation ​ Cash flow hedge ​ investment hedge ​ comprehensive ​ adjustments adjustments adjustments income (loss) Balance as of December 31, 2020 ​ $ 98,946 ​ $ (3,823) ​ $ 39,677 ​ $ 134,800 Net current period change ​ (254,444) ​ 772 ​ — ​ (253,672) Reclassification to interest expense from interest ​ — ​ 1,070 ​ — ​ 1,070 Balance as of September 30, 2021 ​ $ (155,498) ​ $ (1,981) ​ $ 39,677 ​ $ (117,802)

Incentive Plans (Tables)

Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2021
Incentive Plans
Schedule of Valuation Assumptions	​ ​ ​ ​ ​ ​ ​ ​ Expected Stock Price Risk-Free Interest ​ Award Date Volatility Rate ​ February 19, 2020 ​ 22 % 1.39 % February 20, 2020 ​ 22 % 1.35 % January 1, 2021 ​ 27 % 0.17 % February 25, 2021 ​ 26 % 0.31 %
Schedule of Deferred Compensation	Below is a summary of compensation expense and unearned compensation (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Expected ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ period to ​ ​ Deferred Compensation ​ Unearned Compensation recognize ​ ​ Expensed ​ Capitalized ​ As of ​ As of unearned ​ Three Months Ended September 30, September 30, ​ December 31, compensation Type of incentive award 2021 2020 2021 2020 2021 2020 (in years) Long-term incentive units ​ $ 2.8 ​ $ 3.3 ​ $ — ​ $ 0.1 ​ $ 21.2 ​ $ 15.1 2.1 Performance-based awards ​ 6.4 ​ 6.8 ​ 0.2 ​ 0.1 ​ 41.9 ​ 34.4 2.2 Service-based restricted stock units ​ 4.6 ​ 3.8 ​ 0.9 ​ 0.8 ​ 50.9 ​ 41.5 2.6 Interxion awards ​ ​ 3.1 ​ ​ 4.8 ​ ​ — ​ ​ — ​ ​ 10.5 ​ ​ 27.2 ​ 1.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ 2021 2020 2021 2020 Long-term incentive units ​ $ 8.7 ​ $ 9.6 ​ $ 0.1 ​ $ 0.2 Performance-based awards ​ 21.3 ​ 18.2 ​ 0.7 ​ 0.6 Service-based restricted stock units ​ ​ 13.7 ​ ​ 10.4 ​ ​ 2.5 ​ ​ 2.3 Interxion awards ​ 17.7 ​ 14.9 ​ — ​ — ​
Summary of Long-Term Incentive Unit Activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ ​ ​ ​ Grant Date Fair ​ Unvested Long-term Incentive Units ​ Units Value ​ Unvested, beginning of period 235,535 ​ $ 122.22 ​ Granted 132,848 ​ 138.16 ​ Vested (126,826) ​ 122.56 ​ Cancelled or expired (1,876) ​ 128.38 ​ Unvested, end of period 239,681 ​ $ 130.83 ​
Summary of Restricted Stock Activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ ​ ​ ​ Grant Date Fair ​ Unvested Restricted Stock Shares Value ​ Unvested, beginning of period 783,219 ​ $ 123.04 ​ Granted 258,414 ​ 136.75 ​ Vested (381,179) ​ 122.12 ​ Cancelled or expired (49,817) ​ 110.52 ​ Unvested, end of period 610,637 ​ $ 130.44 ​

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments
Schedule of Outstanding Derivative Instruments	Summary of Outstanding Interest Rate Derivatives ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at Significant Other Notional Amount ​ ​ ​ ​ ​ ​ ​ ​ ​ Observable Inputs (Level 2) As of ​ As of ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of September 30, ​ December 31, ​ Type of ​ Strike ​ Effective ​ Expiration ​ September 30, ​ December 31, 2021 2020 Derivative Rate Date Date 2021 2020 ​ ​ ​ ​ ​ 104,000 ​ 104,000 ​ Swap 1.435 ​ Jan 15, 2016 ​ Jan 15, 2023 ​ (1,727) ​ (2,773) ​ — ​ 77,352 ​ Swap 0.779 ​ Jan 15, 2016 ​ Jan 15, 2021 ​ — ​ (9) $ 104,000 ​ $ 181,352 ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (1,727) ​ $ (2,782) ​ ​

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value of Financial Instruments
Estimated Fair Value And Carrying Amounts	A comparison of estimated fair value and carrying value of our debt is shown in the subsequent table (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Categorization ​ As of September 30, 2021 ​ As of December 31, 2020 ​ ​ under the fair value ​ Estimated Fair ​ ​ ​ ​ Estimated Fair ​ ​ ​ ​ hierarchy Value Carrying Value Value Carrying Value Global revolving credit facilities Level 2 ​ $ 838,054 ​ $ 838,054 ​ $ 540,184 ​ $ 540,184 Unsecured term loans Level 2 ​ — ​ — ​ 537,470 ​ 537,470 Unsecured senior notes (1) Level 2 ​ 13,859,557 ​ 13,113,785 ​ 13,359,960 ​ 12,096,029 Secured debt (1) Level 2 ​ 250,015 ​ 242,870 ​ 242,051 ​ 239,326 ​ ​ ​ ​ $ 14,947,626 ​ $ 14,194,709 ​ $ 14,679,665 ​ $ 13,413,009 (1) Valuations for our unsecured senior notes and secured debt are determined based on the expected future payments discounted at risk-adjusted rates and quoted market prices .

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2021
Supplemental Cash Flow Information
Schedule of cash, cash equivalents, and restricted cash	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of (Amounts in thousands) September 30, 2021 December 31, 2020 Cash and cash equivalents ​ $ 116,002 ​ $ 108,501 Restricted cash (included in other assets) ​ 11,090 ​ 15,151 Total ​ $ 127,092 ​ $ 123,652

Business Combinations - Narrati

Business Combinations - Narrative (Details) - USD ($) $ in Thousands	Mar. 12, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Business Acquisition [Line Items]
Revenues		$ 1,133,136	$ 1,024,668	$ 3,316,715	$ 2,841,000
Net income		134,275	(138)	641,449	298,707
Interxion Combination
Business Acquisition [Line Items]
Assumed cash and cash equivalents	$ 108,500
Total equity consideration	$ 7,000,000
Revenues		254,500	216,500	735,200	458,400
Net income		$ 25,600	$ 15,400	$ 67,800	$ 27,600

Investments in Properties (Deta

Investments in Properties (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Investments in Properties
Land	$ 1,094,838	$ 1,106,392
Acquired ground lease	6,695	10,308
Buildings and improvements	21,588,688	21,335,396
Tenant improvements	694,524	690,892
Total investments in operating properties	23,384,745	23,142,988
Accumulated depreciation and amortization	(6,159,294)	(5,555,221)
Investments in operating properties, net	17,225,451	17,587,767
Construction in progress and space held for development	3,238,451	2,768,325
Land held for future development	118,091	226,862
Investments in properties, net	$ 20,581,993	$ 20,582,954

Investments in Properties - Dis

Investments in Properties - Dispositions (Details) - Portfolio Centers in Europe - Disposed of by Sale $ in Millions	Mar. 16, 2021USD ($)property	Mar. 31, 2021USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold	11
Purchase consideration | $	$ 680
Gain on sale | $		$ 333.3
Period of transitional property management services provided after closing on sale of real estate	1 year
UK
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold	4
Netherlands
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold	3
France
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold	3
Switzerland
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold	1

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Leases
Rent expense	$ 36.6	$ 34.9	$ 108.9	$ 92.8

Investments in Unconsolidated_3

Investments in Unconsolidated Entities - Equity Method of Accounting Presented in our Consolidated Balance Sheets (Details) $ in Thousands	Sep. 30, 2021USD ($)item	Dec. 31, 2020USD ($)	Sep. 30, 2020
Schedule of Equity Method Investments [Line Items]
Noncontrolling interests in consolidated entities	$ 32,324	$ 119,659
Investments in Unconsolidated Entities
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated joint ventures	1,292,325	1,148,158
Ascenty Acquisition
Schedule of Equity Method Investments [Line Items]
Noncontrolling interests in consolidated entities	$ 20,200	21,900
Ascenty Acquisition | Investments in Unconsolidated Entities
Schedule of Equity Method Investments [Line Items]
% Ownership	51.00%
Investments in unconsolidated joint ventures	$ 547,398	$ 567,192
Ascenty Acquisition | Subsidiary of Operating Partnership subsidiary
Schedule of Equity Method Investments [Line Items]
Ownership interest by noncontrolling interest	2.00%	2.00%
Mapletree JV | Investments in Unconsolidated Entities
Schedule of Equity Method Investments [Line Items]
% Ownership	20.00%
Investments in unconsolidated joint ventures	$ 175,282	$ 184,890
Mitsubishi | Investments in Unconsolidated Entities
Schedule of Equity Method Investments [Line Items]
% Ownership	50.00%		50.00%
Investments in unconsolidated joint ventures	$ 392,349	278,947
Percentage of equity method investment derecognized	50.00%
Investment de-recognized in number of joint ventures | item	2
Equity method investment, aggregate cost	$ 197,000
Lumen | Investments in Unconsolidated Entities
Schedule of Equity Method Investments [Line Items]
% Ownership	50.00%
Investments in unconsolidated joint ventures	$ 77,987	86,600
Other | Investments in Unconsolidated Entities
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated joint ventures	$ 99,309	$ 30,529

Investments in Unconsolidated_4

Investments in Unconsolidated Entities - Narrative (Details) $ in Millions	3 Months Ended
	Sep. 30, 2021USD ($)item
Schedule of Equity Method Investments [Line Items]
Proceeds from partnership contribution	$ 19
North America | Disposed of by Sale
Schedule of Equity Method Investments [Line Items]
Number of properties sold | item	10
Purchase consideration	$ 581
North America | Disposed of by Sale | Income Loss From Equity Method Investment
Schedule of Equity Method Investments [Line Items]
Gain on sale	$ 64
Investment in Partnership
Schedule of Equity Method Investments [Line Items]
Percentage of interest in partnership	20.00%
PGIM Real Estate | Investment in Partnership
Schedule of Equity Method Investments [Line Items]
Percentage of interest in partnership	80.00%

Acquired Intangible Assets an_3

Acquired Intangible Assets and Liabilities - Summary of Acquired Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Customer Relationship Value
Finite-Lived Intangible Assets [Line Items]
Gross amount	$ 2,930,218	$ 2,993,093
Accumulated amortization	(697,471)	(570,886)
Total	2,232,747	2,422,207
Acquired in-place lease value
Finite-Lived Intangible Assets [Line Items]
Gross amount	1,338,554	1,382,563
Accumulated amortization	(1,025,673)	(1,004,421)
Total	312,881	378,142
Other
Finite-Lived Intangible Assets [Line Items]
Gross amount	76,432	57,370
Accumulated amortization	(12,904)	(7,107)
Total	63,528	50,263
Acquired above-market leases
Finite-Lived Intangible Assets [Line Items]
Gross amount	274,365	280,216
Accumulated amortization	(248,085)	(236,923)
Total	26,280	43,293
Acquired below-market leases
Finite-Lived Intangible Assets [Line Items]
Below-market lease, gross amount	(382,237)	(401,539)
Below-market lease, accumulated amortization	269,599	270,648
Total	(112,638)	$ (130,891)
Power grid rights
Finite-Lived Intangible Assets [Line Items]
Total	$ 51,800

Acquired Intangible Assets an_4

Acquired Intangible Assets and Liabilities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Customer Relationship Value, Acquired In-Place Lease Value and Other Intangibles
Finite-Lived Intangible Assets [Line Items]
Amortization of customer relationship value, acquired in-place lease value and deferred leasing costs	$ 65.2	$ 75.1	$ 199.3	$ 210.9
Rental and other services | Below-Market Leases, Net of Above-Market Leases
Finite-Lived Intangible Assets [Line Items]
Decrease in revenue	$ (0.7)	$ (2.4)	$ (3.3)	$ (8.7)

Acquired Intangible Assets An_5

Acquired Intangible Assets And Liabilities - Schedule of Estimated Annual Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Customer Relationship Value
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2021	$ 43,556
2022	173,452
2023	172,784
2024	172,204
2025	171,702
Thereafter	1,499,049
Total	2,232,747	$ 2,422,207
Acquired in-place lease value
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2021	18,376
2022	58,514
2023	47,606
2024	40,948
2025	35,723
Thereafter	111,714
Total	312,881	378,142
Other (excludes power grid rights)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2021	2,055
2022	8,222
2023	1,484
Total	11,761
Power grid rights
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Total	51,800
Acquired above-market leases
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2021	4,691
2022	11,209
2023	4,759
2024	2,584
2025	1,452
Thereafter	1,585
Total	26,280	$ 43,293
Acquired below-market leases
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2021	(4,487)
2022	(15,934)
2023	(14,249)
2024	(12,637)
2025	(10,741)
Thereafter	(54,590)
Total	$ (112,638)

Debt - Summary of Outstanding I

Debt - Summary of Outstanding Indebtedness (Details) - Digital Realty Trust, L.P. - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument
Weighted-average interest rate	2.19%	2.38%
Amount Outstanding	$ 14,194,709	$ 13,413,013
Global revolving credit facilities
Debt Instrument
Weighted-average interest rate	0.98%	0.91%
Amount Outstanding	$ 838,054	$ 540,184
Unsecured term loans
Debt Instrument
Weighted-average interest rate		1.20%
Amount Outstanding		$ 537,470
Unsecured senior notes
Debt Instrument
Weighted-average interest rate	2.25%	2.49%
Amount Outstanding	$ 13,113,785	$ 12,096,029
Unsecured senior notes | 0.125% notes due 2022
Debt Instrument
Amount Outstanding	347,400	366,480
Unsecured senior notes | 2.750% notes due 2023
Debt Instrument
Amount Outstanding		350,000
Unsecured senior notes | 2.625% notes due 2024
Debt Instrument
Amount Outstanding	694,800	732,960
Unsecured senior notes | 2.750% notes due 2024
Debt Instrument
Amount Outstanding	336,850	341,750
Unsecured senior notes | 4.250% notes due 2025
Debt Instrument
Amount Outstanding	538,960	546,800
Unsecured senior notes | 0.625% notes due 2025
Debt Instrument
Amount Outstanding	752,700	794,040
Unsecured senior notes | 2.500% notes due 2026
Debt Instrument
Amount Outstanding	1,244,850	1,313,219
Unsecured senior notes | 3.700% notes due 2027
Debt Instrument
Amount Outstanding	1,000,000	1,000,000
Unsecured senior notes | 1.125% notes due 2028
Debt Instrument
Amount Outstanding	579,000	610,800
Unsecured senior notes | 4.450% notes due 2028
Debt Instrument
Amount Outstanding	650,000	650,000
Unsecured senior notes | 3.600% notes due 2029
Debt Instrument
Amount Outstanding	900,000	900,000
Unsecured senior notes | 3.300% notes due 2029
Debt Instrument
Amount Outstanding	471,590	478,450
Unsecured senior notes | 3.750% notes due 2030
Debt Instrument
Amount Outstanding	$ 741,070	$ 751,850
Secured and other debt
Debt Instrument
Weighted-average interest rate	3.06%	2.92%
Amount Outstanding	$ 242,870	$ 239,330

Debt - Schedule of Debt Functio

Debt - Schedule of Debt Functional Currencies (Details) - Digital Realty Trust, L.P. - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument
Amount Outstanding	$ 14,194,709	$ 13,413,013
Weighted-average interest rate	2.19%	2.38%
Global revolving credit facilities
Debt Instrument
Amount Outstanding	$ 838,054	$ 540,184
Weighted-average interest rate	0.98%	0.91%
Unsecured term loans
Debt Instrument
Amount Outstanding		$ 537,470
Weighted-average interest rate		1.20%
Unsecured senior notes
Debt Instrument
Amount Outstanding	$ 13,113,785	$ 12,096,029
Weighted-average interest rate	2.25%	2.49%
Senior Notes.
Debt Instrument
Amount Outstanding	$ 13,113,785
Secured and Other Debt
Debt Instrument
Amount Outstanding	242,870
3.750% notes due 2030 | Unsecured senior notes
Debt Instrument
Amount Outstanding	741,070	$ 751,850
2.750% notes due 2023 | Unsecured senior notes
Debt Instrument
Amount Outstanding		350,000
U.S. dollar ($)
Debt Instrument
Amount Outstanding	$ 3,497,870	$ 3,629,000
Weighted-average interest rate	24.70%	27.10%
British pound sterling ()
Debt Instrument
Amount Outstanding	$ 2,088,470	$ 2,166,695
Weighted-average interest rate	14.70%	16.20%
Euro ()
Debt Instrument
Amount Outstanding	$ 7,569,846	$ 6,912,142
Weighted-average interest rate	53.30%	51.50%
Other
Debt Instrument
Amount Outstanding	$ 1,038,523	$ 705,176
Weighted-average interest rate	7.30%	5.20%

Debt - Unsecured Senior Notes (

Debt - Unsecured Senior Notes (Details) - Digital Realty Trust, L.P. € in Thousands, £ in Thousands, SFr in Thousands, $ in Thousands	Sep. 30, 2021USD ($)	Sep. 30, 2021EUR (€)	Sep. 30, 2021GBP (£)	Sep. 30, 2021CHF (SFr)	Dec. 31, 2020USD ($)
Debt of the Operating Partnership [Line Items]
Long-term Debt, Gross	$ 14,194,709				$ 13,413,013
Deferred financing costs	(72,014)
Senior Notes.
Debt of the Operating Partnership [Line Items]
Long-term Debt, Gross	13,113,785
Deferred financing costs	(65,839)
Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Long-term Debt, Gross	13,113,785				12,096,029
Unamortized discounts, net of premiums	(35,156)				(34,988)
Deferred financing costs	(65,839)				(64,031)
Total unsecured senior notes, net of discount and deferred financing costs	13,012,790				11,997,010
Floating Rate Notes due 2022 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Aggregate principal amount	349,800	€ 300,000
Long-term Debt, Gross	$ 347,400				366,480
0.125% notes due 2022 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	0.125%	0.125%	0.125%	0.125%
Aggregate principal amount	$ 332,760	€ 300,000
Long-term Debt, Gross	$ 347,400				366,480
2.750% notes due 2023 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.75%	2.75%	2.75%	2.75%
Aggregate principal amount	$ 350,000
Long-term Debt, Gross					350,000
2.625% notes due 2024 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.625%	2.625%	2.625%	2.625%
Aggregate principal amount	$ 677,040	€ 600,000
Long-term Debt, Gross	$ 694,800				732,960
2.750% notes due 2024 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.75%	2.75%	2.75%	2.75%
Aggregate principal amount	$ 324,925		£ 250,000
Long-term Debt, Gross	$ 336,850				341,750
4.250% notes due 2025 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.25%	4.25%	4.25%	4.25%
Aggregate principal amount	$ 634,480		£ 400,000
Long-term Debt, Gross	$ 538,960				546,800
0.625% notes due 2025 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	0.625%	0.625%	0.625%	0.625%
Aggregate principal amount	$ 720,980	€ 650,000
Long-term Debt, Gross	$ 752,700				794,040
4.750% Notes due 2025 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.75%	4.75%	4.75%	4.75%
Aggregate principal amount	$ 450,000
Long-term Debt, Gross	$ 450,000				450,000
2.500% notes due 2026 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.50%	2.50%	2.50%	2.50%
Aggregate principal amount	$ 1,224,640	€ 1,075,000
Long-term Debt, Gross	$ 1,244,850				1,313,219
0.200% notes due 2026 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	0.20%	0.20%	0.20%	0.20%
Aggregate principal amount	$ 298,404			SFr 275,000
Long-term Debt, Gross	$ 295,267
3.700% notes due 2027 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.70%	3.70%	3.70%	3.70%
Aggregate principal amount	$ 1,000,000
Long-term Debt, Gross	$ 1,000,000				1,000,000
1.125% notes due 2028 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	1.125%	1.125%	1.125%	1.125%
Aggregate principal amount	$ 548,550	€ 500,000
Long-term Debt, Gross	$ 579,000				610,800
4.450% notes due 2028 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.45%	4.45%	4.45%	4.45%
Aggregate principal amount	$ 650,000
Long-term Debt, Gross	650,000				650,000
0.550% notes due 2029 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Aggregate principal amount	292,478			SFr 270,000
Long-term Debt, Gross	$ 289,898
3.300% notes due 2029 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.30%	3.30%	3.30%	3.30%
Aggregate principal amount	$ 454,895		£ 350,000
Long-term Debt, Gross	$ 471,590				478,450
3.600% notes due 2029 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.60%	3.60%	3.60%	3.60%
Aggregate principal amount	$ 900,000
Long-term Debt, Gross	$ 900,000				900,000
1.500% Notes due 2030 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	1.50%	1.50%	1.50%	1.50%
Aggregate principal amount	$ 831,900	€ 750,000
Long-term Debt, Gross	$ 868,500				916,200
3.750% notes due 2030 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.75%	3.75%	3.75%	3.75%
Aggregate principal amount	$ 719,825		£ 550,000
Long-term Debt, Gross	$ 741,070				751,850
1.250% Notes due 2031 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	1.25%	1.25%	1.25%	1.25%
Aggregate principal amount	$ 560,950	€ 500,000
Long-term Debt, Gross	$ 579,000				610,800
0.625% notes due 2031 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	0.625%	0.625%	0.625%	0.625%
Aggregate principal amount	$ 1,220,700	€ 1,000,000
Long-term Debt, Gross	$ 1,158,000
1.000% Notes due 2032 | Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	1.00%	1.00%	1.00%	1.00%
Aggregate principal amount	$ 874,500	€ 750,000
Long-term Debt, Gross	$ 868,500				$ 916,200

Debt - Schedule of Debt Maturit

Debt - Schedule of Debt Maturities And Principal Payments (Details) - Digital Realty Trust, L.P. $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)item	Dec. 31, 2020USD ($)
Debt Instrument
Remainder of 2021	$ 0
2022	694,800
2023	857,396
2024	1,116,308
2025	1,741,660
Thereafter	9,784,545
Subtotal	14,194,709	$ 13,413,013
Unamortized net discounts	(35,156)
Unamortized deferred financing costs	(72,014)
Total	14,087,539
Global revolving credit facilities
Debt Instrument
Remainder of 2021	0
2022	0
2023	753,396
2024	84,658
2025	0
Thereafter	0
Subtotal	838,054	540,184
Unamortized net discounts	0
Unamortized deferred financing costs	(5,732)
Total	$ 832,322
Number of extension options | item	2
Debt instrument, extension term	6 months
Unsecured term loans
Debt Instrument
Subtotal		$ 537,470
Senior Notes.
Debt Instrument
Remainder of 2021	$ 0
2022	694,800
2023	0
2024	1,031,650
2025	1,741,660
Thereafter	9,645,675
Subtotal	13,113,785
Unamortized net discounts	(35,156)
Unamortized deferred financing costs	(65,839)
Total	13,012,790
Secured and Other Debt
Debt Instrument
Remainder of 2021	0
2022	0
2023	104,000
2024	0
2025	0
Thereafter	138,870
Subtotal	242,870
Unamortized net discounts	0
Unamortized deferred financing costs	(443)
Total	$ 242,427

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Thousands, SFr in Millions	Jul. 15, 2021USD ($)	Jul. 15, 2021CHF (SFr)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Debt Instrument
Leverage ratio					60.00%
Secured debt leverage ratio, maximum					40.00%
Interest coverage ratio					1.50
Total unencumbered assets					150.00%
Loss from early extinguishment of debt			$ 0	$ (53,007)	$ (18,347)	$ (53,639)
Net proceeds from offering					1,816,178	3,573,121
Digital Realty Trust, L.P.
Debt Instrument
Loss from early extinguishment of debt				(53,007)	(18,347)	(53,639)
Net proceeds from offering					1,816,178	3,573,121
Unsecured senior notes | 2.750% notes due 2023 | Digital Realty Trust, L.P.
Debt Instrument
Loss from early extinguishment of debt					(18,300)
Aggregate principal amount			$ 350,000		$ 350,000
Stated interest rate			2.75%		2.75%
Unsecured senior notes | 3.950% notes due 2022 | Digital Realty Trust, L.P.
Debt Instrument
Loss from early extinguishment of debt				$ (53,000)
Stated interest rate			3.95%		3.95%
Unsecured senior notes | 3.625% notes due 2022 | Digital Realty Trust, L.P.
Debt Instrument
Loss from early extinguishment of debt						$ (53,600)
Stated interest rate			3.625%		3.625%
Unsecured senior notes | Swiss Franc Notes | Digital Intrepid Holding B.V
Debt Instrument
Net proceeds from offering	$ 590,900	SFr 542.3
Unsecured senior notes | 0.20% Guaranteed Notes due 2026 | Digital Intrepid Holding B.V
Debt Instrument
Aggregate principal amount | SFr		SFr 275
Stated interest rate		0.20%
Unsecured senior notes | 0.55% Guaranteed Notes due 2029
Debt Instrument
Aggregate principal amount | SFr		SFr 270
Unsecured senior notes | 0.55% Guaranteed Notes due 2029 | Digital Intrepid Holding B.V
Debt Instrument
Stated interest rate		0.55%

Earnings per Common Share or _3

Earnings per Common Share or Unit - Summary of Basic and Diluted Earnings per Share and Unit (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Class of Stock
Net (loss) income available to common stockholders	$ 124,094	$ (37,370)	$ 623,869	$ 219,165
Weighted average units outstanding-basic (shares/units)	283,105,966	270,214,413	282,004,907	253,377,527
Potentially dilutive common shares/units:
Unvested incentive units (shares/units)	217,652		207,826	103,159
Unvested restricted stock (shares/units)	187,549		164,916	273,755
Forward equity offering (shares/units)	43,816			2,087,607
Market performance-based awards (shares/units)	244,555		295,071	520,531
Weighted average shares/units outstanding-diluted (shares/units)	283,799,538	270,214,413	282,672,720	256,362,579
Income (loss) per share/unit:
Basic (in dollars per share/unit)	$ 0.44	$ (0.14)	$ 2.21	$ 0.86
Diluted (in dollars per share/unit)	$ 0.44	$ (0.14)	$ 2.21	$ 0.85
Digital Realty Trust, L.P.
Class of Stock
Net (loss) income available to common stockholders	$ 127,094	$ (38,370)	$ 639,869	$ 227,365
Weighted average units outstanding-basic (shares/units)	289,535,213	278,079,187	288,897,093	261,416,412
Potentially dilutive common shares/units:
Unvested incentive units (shares/units)	217,652		207,826	103,159
Unvested restricted stock (shares/units)	187,549		164,916	273,755
Forward equity offering (shares/units)	43,816			2,087,607
Market performance-based awards (shares/units)	244,555		295,071	520,531
Weighted average shares/units outstanding-diluted (shares/units)	290,228,785	278,079,187	289,564,906	264,401,464
Income (loss) per share/unit:
Basic (in dollars per share/unit)	$ 0.44	$ (0.14)	$ 2.21	$ 0.87
Diluted (in dollars per share/unit)	$ 0.44	$ (0.14)	$ 2.21	$ 0.86

Earnings per Common Share or _4

Earnings per Common Share or Unit - Schedule of Antidilutive Securities Excluded from Computation of Earnings per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	11,413,492	21,090,959	19,023,508	18,611,332
Unvested incentive units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)		154,178
Unvested restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)		2,459,322
Shares subject to Forward equity offering
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)		512,442	6,250,000
Market performance-based awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)		318,386
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)	6,429,247	7,864,774	6,892,186	8,038,885
Series C Cumulative Redeemable Perpetual Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)		1,417,537	721,665	1,485,177
Series G Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)		1,757,668		1,841,538
Series I Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)		1,304,786		1,692,046
Series J Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	1,319,861	1,403,969	1,366,311	1,470,961
Series K Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	1,387,905	1,476,350	1,436,750	1,546,796
Series L Cumulative Redeemable Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	2,276,479	2,421,547	2,356,596	2,535,929

Equity and Capital - Equity Dis

Equity and Capital - Equity Distribution Agreement (Details) - Sales Agreement - USD ($) $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Class of Stock [Line Items]
Common stock issued in public offering (shares)	1.1	6.1
Average price per share	$ 161.92	$ 146.89
Amount of shares reserved for future issuance	$ 577.6
Maximum
Class of Stock [Line Items]
Aggregate offering price of the distribution agreement maximum			$ 1,000

Equity and Capital - Forward Eq

Equity and Capital - Forward Equity Sale (Details) - Underwritten Public Offering - USD ($) $ / shares in Units, $ in Billions	Oct. 13, 2021	Sep. 13, 2021
Class of Stock [Line Items]
Issuance of common stock, net of offering costs (shares)	937,500	6,250,000
Gross proceeds		$ 1
Offering price	$ 155.69	$ 155.69

Equity and Capital - Noncontrol

Equity and Capital - Noncontrolling Interests (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Noncontrolling interests in Operating Partnership	$ 459,918	$ 608,980
Noncontrolling interests in consolidated entities	32,324	119,659
Total noncontrolling interests	492,242	728,639
Digital Realty Trust, L.P.
Class of Stock [Line Items]
Noncontrolling interests in consolidated entities	$ 32,324	$ 119,659

Equity and Capital - Noncontr_2

Equity and Capital - Noncontrolling Interests in Operating Partnership (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Class of Stock
Number of units (units)	283,846,802	280,289,726
Percentage of total	97.80%	97.20%
Common stock conversion ratio	1
Digital Realty Trust, L.P.
Class of Stock
Redeemable noncontrolling interests - operating partnership	$ 888,400	$ 1,078,900
Common units held by third parties
Class of Stock
Common units held by third parties (units)	4,977,994	6,212,369
Percentage of total	1.70%	2.20%
Incentive units held by employees and directors (see Note 15 below)
Class of Stock
Incentive units held by employees and directors (units)	1,516,071	1,833,898
Percentage of total	0.50%	0.60%
Noncontrolling Interests in Operating Partnership
Class of Stock
Number of units (units)	290,340,867	288,335,993
Percentage of total	100.00%	100.00%

Equity and Capital - Summary of

Equity and Capital - Summary of Activity For Noncontrolling Interests in The Operating Partnership (Details)	9 Months Ended
	Sep. 30, 2021shares
Common And Incentive Unit Activity [Roll Forward]
Beginning balance (units)	8,046,267
Redemption of common units for shares of Digital Realty Trust, Inc. common stock (units)	(1,234,375)
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (units)	(668,451)
Incentive units issued upon achievement of market performance condition (units)	219,652
Grant of incentive units to employees and directors (units)	132,848
Cancellation / forfeitures of incentive units held by employees and directors (units)	(1,876)
Ending balance (units)	6,494,065
Common Units
Common And Incentive Unit Activity [Roll Forward]
Beginning balance (units)	6,212,369
Redemption of common units for shares of Digital Realty Trust, Inc. common stock (units)	(1,234,375)
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (units)	0
Incentive units issued upon achievement of market performance condition (units)	0
Grant of incentive units to employees and directors (units)	0
Cancellation / forfeitures of incentive units held by employees and directors (units)	0
Ending balance (units)	4,977,994
Incentive Units
Common And Incentive Unit Activity [Roll Forward]
Beginning balance (units)	1,833,898
Redemption of common units for shares of Digital Realty Trust, Inc. common stock (units)	0
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (units)	(668,451)
Incentive units issued upon achievement of market performance condition (units)	219,652
Grant of incentive units to employees and directors (units)	132,848
Cancellation / forfeitures of incentive units held by employees and directors (units)	(1,876)
Ending balance (units)	1,516,071

Equity and Capital - Schedule o

Equity and Capital - Schedule of Dividends and Distributions (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)$ / shares
Series C Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	$ 3,333
Preferred stock dividend per share amount (in dollars per share/unit) | $ / shares	$ 1.65625
Series J Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	$ 7,875
Preferred stock dividend per share amount (in dollars per share/unit) | $ / shares	$ 1.31250
Series K Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	$ 9,213
Preferred stock dividend per share amount (in dollars per share/unit) | $ / shares	$ 1.46250
Series L Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	$ 13,455
Preferred stock dividend per share amount (in dollars per share/unit) | $ / shares	$ 1.30000
Common Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	$ 984,964
Common stock dividend per share amount (in dollars per share/unit) | $ / shares	$ 4.64000
February 25 2021 | Series C Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	$ 3,333
February 25 2021 | Series J Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	2,625
February 25 2021 | Series K Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	3,071
February 25 2021 | Series L Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	4,485
February 25 2021 | Common Units
Dividends Payable [Line Items]
Dividends/Distributions, common stock/units	326,965
May 12 2021 | Series J Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	2,625
May 12 2021 | Series K Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	3,071
May 12 2021 | Series L Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	4,485
May 12 2021 | Common Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	328,279
August 11, 2021 | Series J Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	2,625
August 11, 2021 | Series K Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	3,071
August 11, 2021 | Series L Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	4,485
August 11, 2021 | Common Units
Dividends Payable [Line Items]
Dividends/Distributions, common stock/units	329,720
Digital Realty Trust, L.P. | Series C Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	$ 3,333
Preferred stock dividend per share amount (in dollars per share/unit) | $ / shares	$ 1.65625
Digital Realty Trust, L.P. | Series J Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	$ 7,875
Preferred stock dividend per share amount (in dollars per share/unit) | $ / shares	$ 1.31250
Digital Realty Trust, L.P. | Series K Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	$ 9,213
Preferred stock dividend per share amount (in dollars per share/unit) | $ / shares	$ 1.46250
Digital Realty Trust, L.P. | Series L Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	$ 13,455
Preferred stock dividend per share amount (in dollars per share/unit) | $ / shares	$ 1.30000
Digital Realty Trust, L.P. | Common Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	$ 1,010,031
Common stock dividend per share amount (in dollars per share/unit) | $ / shares	$ 4.64000
Digital Realty Trust, L.P. | February 25 2021 | Series C Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	$ 3,333
Digital Realty Trust, L.P. | February 25 2021 | Series J Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	2,625
Digital Realty Trust, L.P. | February 25 2021 | Series K Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	3,071
Digital Realty Trust, L.P. | February 25 2021 | Series L Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	4,485
Digital Realty Trust, L.P. | February 25 2021 | Common Units
Dividends Payable [Line Items]
Dividends/Distributions, common stock/units	336,041
Digital Realty Trust, L.P. | May 12 2021 | Series J Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	2,625
Digital Realty Trust, L.P. | May 12 2021 | Series K Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	3,071
Digital Realty Trust, L.P. | May 12 2021 | Series L Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	4,485
Digital Realty Trust, L.P. | May 12 2021 | Common Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	336,543
Digital Realty Trust, L.P. | August 11, 2021 | Series J Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	2,625
Digital Realty Trust, L.P. | August 11, 2021 | Series K Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	3,071
Digital Realty Trust, L.P. | August 11, 2021 | Series L Preferred Units
Dividends Payable [Line Items]
Dividends/Distributions, preferred units	4,485
Digital Realty Trust, L.P. | August 11, 2021 | Common Units
Dividends Payable [Line Items]
Dividends/Distributions, common stock/units	$ 337,447

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss), Net (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss), Net
Beginning balance	$ 98,760
Net current period change	(248,367)
Ending balance	(149,607)
Cash flow hedge adjustments
Accumulated Other Comprehensive Income (Loss), Net
Beginning balance	(2,630)
Net current period change	753
Reclassification to interest expense from interest rate swaps	1,044
Ending balance	(833)
Foreign currency net investment hedge adjustments
Accumulated Other Comprehensive Income (Loss), Net
Beginning balance	38,880
Ending balance	38,880
Accumulated Other Comprehensive Income (Loss), Net
Accumulated Other Comprehensive Income (Loss), Net
Beginning balance	135,010
Net current period change	(247,614)
Reclassification to interest expense from interest rate swaps	1,044
Ending balance	(111,560)
Digital Realty Trust, L.P.
Accumulated Other Comprehensive Income (Loss), Net
Beginning balance	18,446,336
Ending balance	17,766,359
Digital Realty Trust, L.P. | Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss), Net
Beginning balance	98,946
Net current period change	(254,444)
Ending balance	(155,498)
Digital Realty Trust, L.P. | Cash flow hedge adjustments
Accumulated Other Comprehensive Income (Loss), Net
Beginning balance	(3,823)
Net current period change	772
Reclassification to interest expense from interest rate swaps	1,070
Ending balance	(1,981)
Digital Realty Trust, L.P. | Foreign currency net investment hedge adjustments
Accumulated Other Comprehensive Income (Loss), Net
Beginning balance	39,677
Ending balance	39,677
Digital Realty Trust, L.P. | Accumulated Other Comprehensive Income (Loss), Net
Accumulated Other Comprehensive Income (Loss), Net
Beginning balance	134,800
Net current period change	(253,672)
Reclassification to interest expense from interest rate swaps	1,070
Ending balance	$ (117,802)

Incentive Plan - Summary of Lon

Incentive Plan - Summary of Long-Term Incentive Units (Details)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Units
Granted (shares)	132,848
Long-term incentive units
Units
Unvested beginning of period (shares)	235,535
Granted (shares)	132,848
Vested (shares)	(126,826)
Cancelled or expired (shares)	(1,876)
Unvested end of period (shares)	239,681
Weighted-Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share) | $ / shares	$ 122.22
Granted (in dollars per share) | $ / shares	138.16
Vested (in dollars per share) | $ / shares	122.56
Cancelled or expired (in dollars per share) | $ / shares	128.38
Unvested, end of period (in dollars per share) | $ / shares	$ 130.83
Long-term incentive units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	2 years
Long-term incentive units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years

Incentive Plan - Summary of act

Incentive Plan - Summary of activity for Service-Based Restricted Stock Units (Details)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Units
Granted (shares)	132,848
Restricted stock
Units
Unvested beginning of period (shares)	783,219
Granted (shares)	258,414
Vested (shares)	(381,179)
Cancelled or expired (shares)	(49,817)
Unvested end of period (shares)	610,637
Weighted-Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share) | $ / shares	$ 123.04
Granted (in dollars per share) | $ / shares	136.75
Vested (in dollars per share) | $ / shares	122.12
Cancelled or expired (in dollars per share) | $ / shares	110.52
Unvested, end of period (in dollars per share) | $ / shares	$ 130.44
Service Based Restricted Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	4 years

Incentive Plan - Market Perform

Incentive Plan - Market Performance Based Awards (Details) $ in Millions	Feb. 27, 2022	Feb. 27, 2021item	Jan. 31, 2021shares	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020shares
Market performance-based awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		3 years
Number of trials | item		100,000
Fair value of awards | $				$ 25	$ 17.2
Award requisite service period				4 years
Market performance-based awards | 2018 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting of restricted common units, net (units)			63,498
Market performance-based awards | First Vesting Period in February | 2018 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		50.00%
Market performance-based awards | Second Vesting Period in February | 2018 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	50.00%
Class D Units | 2018 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting of restricted common units, net (units)			240,377
Distribution Equivalent Unit | 2018 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting of restricted common units, net (units)						20,725

Incentive Plan - Assumptions Us

Incentive Plan - Assumptions Used (Details) - Market performance-based awards	Feb. 25, 2021	Jan. 01, 2021	Feb. 20, 2020	Feb. 19, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected Stock Price Volatility	26.00%	27.00%	22.00%	22.00%
Risk-Free Interest rate	0.31%	0.17%	1.35%	1.39%

Incentive Plan - Schedule of Co

Incentive Plan - Schedule of Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Long-term incentive units
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Deferred compensation, expensed	$ 2.8	$ 3.3	$ 8.7	$ 9.6
Deferred compensation, capitalized		0.1	0.1	0.2
Unearned Compensation	21.2		$ 21.2		$ 15.1
Expected period to recognize unearned compensation (in years)			2 years 1 month 6 days
Market performance-based awards
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Deferred compensation, expensed	6.4	6.8	$ 21.3	18.2
Deferred compensation, capitalized	0.2	0.1	0.7	0.6
Unearned Compensation	41.9		$ 41.9		34.4
Expected period to recognize unearned compensation (in years)			2 years 2 months 12 days
Service Based Restricted Stock Units
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Deferred compensation, expensed	4.6	3.8	$ 13.7	10.4
Deferred compensation, capitalized	0.9	0.8	2.5	2.3
Unearned Compensation	50.9		$ 50.9		41.5
Expected period to recognize unearned compensation (in years)			2 years 7 months 6 days
Interxion awards
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Deferred compensation, expensed	3.1	$ 4.8	$ 17.7	$ 14.9
Unearned Compensation	$ 10.5		$ 10.5		$ 27.2
Expected period to recognize unearned compensation (in years)			1 year 8 months 12 days

Incentive Plan - Narrative (Det

Incentive Plan - Narrative (Details) - shares shares in Millions	Feb. 27, 2021	Mar. 09, 2020	Sep. 30, 2021
Interxion Combination
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares registered for issuance (shares)		0.6
Interxion Combination | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			2 years
Interxion Combination | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Market performance-based awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3 years
Service Based Restricted Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period			2 years
Service Based Restricted Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period			4 years
Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares remaining for issuance under Incentive Plan (shares)			5.5
Long-term incentive units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			2 years
Long-term incentive units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			4 years

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Derivative Instruments
Gain (loss) to be reclassified within twelve months	$ 1.4

Derivative Instruments - Outsta

Derivative Instruments - Outstanding Interest Rate Derivatives (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Interest Rate Swap, 1.435
Currently-paying contracts
Notional Amount	$ 104,000	$ 104,000
Strike Rate	1.435%
Interest Rate Swap, 1.435 | Level 2
Currently-paying contracts
Fair value of derivatives	$ (1,727)	(2,773)
Interest Rate Swap, 0.779
Currently-paying contracts
Notional Amount		77,352
Strike Rate	0.779%
Interest Rate Swap, 0.779 | Level 2
Currently-paying contracts
Fair value of derivatives		(9)
Interest Rate Swap
Currently-paying contracts
Notional Amount	$ 104,000	181,352
Interest Rate Swap | Level 2
Currently-paying contracts
Fair value of derivatives	$ (1,727)	$ (2,782)

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Estimated Fair Value And Carrying Amounts (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	$ 14,947,626	$ 14,679,665
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	14,194,709	13,413,009
Level 2 | Global revolving credit facilities | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of credit	838,054	540,184
Level 2 | Global revolving credit facilities | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of credit	838,054	540,184
Level 2 | Unsecured term loans | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of credit		537,470
Level 2 | Unsecured term loans | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of credit		537,470
Level 2 | Unsecured senior notes | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured senior notes	13,859,557	13,359,960
Level 2 | Unsecured senior notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured senior notes	13,113,785	12,096,029
Level 2 | Secured and Other Debt | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured debt	250,015	242,051
Level 2 | Secured and Other Debt | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured debt	$ 242,870	$ 239,326

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	Sep. 30, 2021USD ($)
Commitments and Contingencies.
Reimbursable amount of commitments related to construction contracts	$ 47.2
Commitments related to construction contracts	$ 1,500

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Supplemental Cash Flow Information
Cash and cash equivalents	$ 116,002		$ 108,501
Restricted cash (included in other assets)	11,090		15,151
Total	127,092	$ 986,589	$ 123,652	$ 97,253
Interest, net of amounts capitalized	240,900	261,200
Income taxes, net of refunds	$ 19,600	$ 15,300