EX-12.1 3 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)

 

    Six Months Ended June 30,     Year Ended December 31,  
            2011                     2010             2010     2009     2008     2007     2006  

Income from continuing operations before noncontrolling interests

   $ 77,240      $ 45,488      $ 105,412      $ 91,234      $ 67,918      $ 22,546      $ 24,890   

Interest expense

     75,416        64,064        137,384        88,442        63,621        67,054        50,598   

Interest within rental expense

     1,403        1,263        2,604        2,633        2,619        1,971        680   

Noncontrolling interests in consolidated joint ventures

     199        82        288        (140 )      (335 )      —          —     
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings available to cover fixed charges

   $ 154,258      $ 110,897      $ 245,688      $ 182,169      $ 133,823      $ 91,571      $ 76,168   

Fixed charges:

              

Interest expense

     75,416        64,064      $ 137,384      $ 88,442      $ 63,621      $ 67,054      $ 50,598   

Interest within rental expense (2)

     1,403        1,263        2,604        2,633        2,619        1,971        680   

Capitalized interest

     8,888        4,418        10,241        9,196        18,351        12,264        4,028   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
    85,707        69,745        150,229        100,271        84,591        81,289        55,306   

Preferred stock dividends

     11,235        20,202        37,004        40,404        38,564        19,330        13,780   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed charges and preferred stock dividends

   $ 96,942      $ 89,947      $ 187,233      $ 140,675      $ 123,155      $ 100,619      $ 69,086   

Ratio of earnings to fixed charges

     1.80        1.59        1.64        1.82        1.58        1.13        1.38   

Ratio of earnings to fixed charges and preferred stock dividends

     1.59        1.23        1.31        1.29        1.09        —   (3)      1.10   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(1) All numbers presented in this exhibit exclude 7979 East Tufts Avenue (sold in 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)

 

    Six Months Ended June 30,     Year Ended December 31,  
            2011                     2010             2010     2009     2008     2007     2006  

Income from continuing operations before noncontrolling interests

   $ 77,240      $ 45,488      $ 105,412      $ 91,234      $ 67,918      $ 22,546      $ 24,890   

Interest expense

     75,416        64,064        137,384        88,442        63,621        67,054        50,598   

Interest within rental expense

     1,403        1,263        2,604        2,633        2,619        1,971        680   

Noncontrolling interests in consolidated joint ventures

     199        82        288        (140 )      (335 )      —          —     
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings available to cover fixed charges

   $ 154,258      $ 110,897      $ 245,688      $ 182,169      $ 133,823      $ 91,571      $ 76,168   

Fixed charges:

              

Interest expense

     75,416        64,064      $ 137,384      $ 88,442      $ 63,621      $ 67,054      $ 50,598   

Interest within rental expense (2)

     1,403        1,263        2,604        2,633        2,619        1,971        680   

Capitalized interest

     8,888        4,418        10,241        9,196        18,351        12,264        4,028   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
    85,707        69,745        150,229        100,271        84,591        81,289        55,306   

Preferred unit distributions

     11,235        20,202        37,004        40,404        38,564        19,330        13,780   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed charges and preferred unit distributions

   $ 96,942      $ 89,947      $ 187,233      $ 140,675      $ 123,155      $ 100,619      $ 69,086   

Ratio of earnings to fixed charges

     1.80        1.59        1.64        1.82        1.58        1.13        1.38   

Ratio of earnings to fixed charges and preferred unit distributions

     1.59        1.23        1.31        1.29        1.09        —   (3)      1.10   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(1) All numbers presented in this exhibit exclude 7979 East Tufts Avenue (sold in 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.