Income per Unit (Tables)

9 Months Ended

Sep. 30, 2016

Class of Stock [Line Items]

Summary of Basic and Diluted Earnings Per Share

The following is a summary of basic and diluted income per share (in thousands, except share and per share amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Net income available to common stockholders	$	187,330	$	38,522	$	254,406	$	257,305
Weighted average shares outstanding—basic	147,397,853		135,832,503		146,930,939		135,782,831
Potentially dilutive common shares:
Stock options	10,424		19,983		9,721		20,629
Unvested incentive units	82,184		86,190		75,049		65,752
Forward equity offering	1,264,749		—		2,611		—
Series I Cumulative Redeemable Preferred Stock	—		1,703,182		—		567,727
Market performance-based awards	629,661		618,078		636,864		483,538
Weighted average shares outstanding—diluted	149,384,871		138,259,936		147,655,184		136,920,477
Income per share:
Basic	$	1.27	$	0.28	$	1.73	$	1.89
Diluted	$	1.25	$	0.28	$	1.72	$	1.88

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

We have excluded the following potentially dilutive securities in the calculations above as they would be antidilutive or not dilutive:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2016	2015	2016	2015
Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc.	2,379,671	2,635,444	2,421,298	2,698,215
Potentially dilutive Series E Cumulative Redeemable Preferred Stock	2,488,354	4,567,661	2,880,254	4,440,429
Potentially dilutive Series F Cumulative Redeemable Preferred Stock	1,925,208	2,896,800	1,942,351	2,816,110
Potentially dilutive Series G Cumulative Redeemable Preferred Stock	2,632,407	3,960,900	2,655,847	3,850,569
Potentially dilutive Series H Cumulative Redeemable Preferred Stock	3,857,518	5,804,286	3,891,866	5,642,608
Potentially dilutive Series I Cumulative Redeemable Preferred Stock	2,635,488	—	2,658,955	—
Shares subject to forward equity offering	—	10,500,000	—	10,500,000
Total	15,918,646	30,365,091	16,450,571	29,947,931

Digital Realty Trust, L.P.

Class of Stock [Line Items]

Summary of Basic and Diluted Earnings Per Share

The following is a summary of basic and diluted income per unit (in thousands, except unit and per unit amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Net income available to common unitholders	$	190,354	$	38,116	$	258,550	$	261,302
Weighted average units outstanding—basic	149,777,524		138,467,947		149,352,237		138,481,046
Potentially dilutive common units:
Stock options	10,424		19,983		9,721		20,629
Unvested incentive units	82,184		86,190		75,049		65,752
Forward equity offering	1,264,749		—		2,611		—
Market performance-based awards	629,661		618,078		636,864		483,538
Weighted average units outstanding—diluted	151,764,542		139,192,198		150,076,482		139,050,965
Income per unit:
Basic	$	1.27	$	0.28	$	1.73	$	1.89
Diluted	$	1.25	$	0.27	$	1.72	$	1.88

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

We have excluded the following potentially dilutive securities in the calculations above as they would be antidilutive or not dilutive:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2016	2015	2016	2015
Potentially dilutive Series E Cumulative Redeemable Preferred Units	2,488,354	4,567,661	2,880,254	4,440,429
Potentially dilutive Series F Cumulative Redeemable Preferred Units	1,925,208	2,896,800	1,942,351	2,816,110
Potentially dilutive Series G Cumulative Redeemable Preferred Units	2,632,407	3,960,900	2,655,847	3,850,569
Potentially dilutive Series H Cumulative Redeemable Preferred Units	3,857,518	5,804,286	3,891,866	5,642,608
Potentially dilutive Series I Cumulative Redeemable Preferred Units	2,635,488	—	2,658,955	—
Units subject to forward equity offering	—	10,500,000	—	10,500,000
Total	13,538,975	27,729,647	14,029,273	27,249,716