EX-12.1 6 dex121.htm STATEMENT OF COMPUTATION OF RATIOS Statement of Computation of Ratios

 

Exhibit 12.1

Digital Realty Trust, Inc. and Subsidiaries

Statement of Computation of Ratios (1)

(in thousands, except ratios)

 

     Nine months ended
September 30,
2010		      Year ended December 31,  
        2009     2008     2007     2006      2005  

Income from continuing operations before noncontrolling interests

    $ 69,114       $ 91,234      $ 67,918      $ 22,546      $ 24,890       $ 24,460   

Interest expense

      100,801         88,442        63,621        67,054        50,598         35,381   

Interest within rental expense

      1,921         2,633        2,619        1,971        680         147   

Noncontrolling interests in consolidated joint ventures

      29         (140 )      (335 )      —          —           —     
                                                  

Earnings available to cover fixed charges

    $ 171,865       $ 182,169      $ 133,823      $ 91,571      $ 76,168       $ 59,988   

Fixed charges:

               

Interest expense

    $ 100,801       $ 88,442      $ 63,621      $ 67,054      $ 50,598       $ 35,381   

Interest within rental expense (2)

      1,921         2,633        2,619        1,971        680         147   

Capitalized interest

      7,141         9,196        18,351        12,264        4,028         279   
                                                  
     109,863         100,271        84,591        81,289        55,306         35,807   

Preferred stock dividends

      29,396         40,404        38,564        19,330        13,780         10,014   
                                                  

Fixed charges and preferred stock dividends

    $ 139,259       $ 140,675      $ 123,155      $ 100,619      $ 69,086       $ 45,821   

Ratio of earnings to fixed charges

      1.56         1.82        1.58        1.13        1.38         1.68   

Ratio of earnings to fixed charges and preferred stock dividends

      1.23         1.29        1.09        —   (3)      1.10         1.31   
                                                  

 

(1) All numbers presented in this exhibit exclude 7979 East Tufts Avenue (sold July 2006), 100 Technology Center Drive (sold in March 2007) and 4055 Valley View Lane (sold in March 2007).
(2) Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest).
(3) For the year ended December 31, 2007, earnings were insufficient to cover fixed charges and preferred dividends by $9,048.

 

Digital Realty Trust, L.P. and Subsidiaries

Statement of Computation of Ratios (1)

(in thousands, except ratios)

 

     Nine months ended
September 30,
2010		      Year ended December 31,  
        2009     2008     2007     2006      2005  

Income from continuing operations before noncontrolling interests

    $ 69,114       $ 91,234      $ 67,918      $ 22,546      $ 24,890       $ 24,460   

Interest expense

      100,801         88,442        63,621        67,054        50,598         35,381   

Interest within rental expense

      1,921         2,633        2,619        1,971        680         147   

Noncontrolling interests in consolidated joint ventures

      29         (140 )      (335 )      —          —           —     
                                                  

Earnings available to cover fixed charges

    $ 171,865       $ 182,169      $ 133,823      $ 91,571      $ 76,168       $ 59,988   

Fixed charges:

               

Interest expense

    $ 100,801       $ 88,442      $ 63,621      $ 67,054      $ 50,598       $ 35,381   

Interest within rental expense (2)

      1,921         2,633        2,619        1,971        680         147   

Capitalized interest

      7,141         9,196        18,351        12,264        4,028         279   
                                                  
     109,863         100,271        84,591        81,289        55,306         35,807   

Preferred unit distributions

      29,396         40,404        38,564        19,330        13,780         10,014   
                                                  

Fixed charges and preferred unit distributions

    $ 139,259       $ 140,675      $ 123,155      $ 100,619      $ 69,086       $ 45,821   

Ratio of earnings to fixed charges

      1.56         1.82        1.58        1.13        1.38         1.68   

Ratio of earnings to fixed charges and preferred unit distributions

      1.23         1.29        1.09        —   (3)      1.10         1.31   
                                                  

 

(1) All numbers presented in this exhibit exclude 7979 East Tufts Avenue (sold July 2006), 100 Technology Center Drive (sold in March 2007) and 4055 Valley View Lane (sold in March 2007).
(2) Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest).
(3) For the year ended December 31, 2007, earnings were insufficient to cover fixed charges and preferred distributions by $9,048.