EX-12.1 4 ex12103312018.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
Digital Realty Trust, Inc. and Subsidiaries
Statement of Computation of Ratios
(in thousands, except ratios)
 
 

Three Months Ended March 31,

Year Ended December 31,
 

2018
 
2017
 
2017
 
2016
 
2015
 
2014
 
2013
Income from continuing operations before noncontrolling interests

$
110,095

 
$
84,563

 
$
256,267

 
$
431,852

 
$
301,591

 
$
203,415

 
$
320,449

Interest expense

76,985

 
55,450

 
258,642

 
236,480

 
201,435

 
191,085

 
189,399

Interest within rental expense (1)

7,022

 
7,215

 
27,490

 
27,879

 
8,208

 
5,393

 
7,687

Noncontrolling interests in consolidated joint ventures

12

 
(121
)
 
(4,238
)
 
(367
)
 
(460
)
 
(465
)
 
(595
)
Earnings available to cover fixed charges

$
194,114

 
$
147,107

 
$
538,161

 
$
695,844

 
$
510,774

 
$
399,428

 
$
516,940

Fixed charges:

 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense

$
76,985

 
$
55,450

 
$
258,642

 
$
236,480

 
$
201,435

 
$
191,085

 
$
189,399

Interest within rental expense (1)

7,022

 
7,215

 
27,490

 
27,879

 
8,208

 
5,393

 
7,687

Capitalized interest

7,385

 
4,614

 
21,714

 
16,324

 
12,851

 
20,373

 
26,277

Total fixed charges

91,392

 
67,279

 
307,846

 
280,683

 
222,494

 
216,851

 
223,363

Preferred stock dividends

20,329

 
17,393

 
68,802

 
83,771

 
79,423

 
67,465

 
42,905

Fixed charges and preferred stock dividends

$
111,721

 
$
84,672

 
$
376,648

 
$
364,454

 
$
301,917

 
$
284,316

 
$
266,268

Ratio of earnings to fixed charges

2.12

 
2.19

 
1.75

 
2.48

 
2.30

 
1.84

 
2.31

Ratio of earnings to fixed charges and preferred stock dividends

1.74

 
1.74

 
1.43

 
1.91

 
1.69

 
1.40

 
1.94



(1)
Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest).






























Digital Realty Trust, L.P. and Subsidiaries
Statement of Computation of Ratios
(in thousands, except ratios)
 
 

Three Months Ended March 31,

Year Ended December 31,
 

2018
 
2017
 
2017
 
2016
 
2015
 
2014
 
2013
Income from continuing operations before noncontrolling interests

$
110,095

 
$
84,563

 
$
256,267

 
$
431,852

 
$
300,226

 
$
203,415

 
$
320,449

Interest expense

76,985

 
55,450

 
258,642

 
236,480

 
202,800

 
191,085

 
189,399

Interest within rental expense (1)

7,022

 
7,215

 
27,490

 
27,879

 
8,208

 
5,393

 
7,687

Noncontrolling interests in consolidated joint ventures

12

 
(121
)
 
(4,238
)
 
(367
)
 
(460
)
 
(465
)
 
(595
)
Earnings available to cover fixed charges

$
194,114

 
$
147,107

 
$
538,161

 
$
695,844

 
$
510,774

 
$
399,428

 
$
516,940

Fixed charges:

 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense

$
76,985

 
$
55,450

 
$
258,642

 
$
236,480

 
$
202,800

 
$
191,085

 
$
189,399

Interest within rental expense (1)

7,022

 
7,215

 
27,490

 
27,879

 
8,208

 
5,393

 
7,687

Capitalized interest

7,385

 
4,614

 
21,714

 
16,324

 
12,851

 
20,373

 
26,277

Total fixed charges

91,392

 
67,279

 
307,846

 
280,683

 
223,859

 
216,851

 
223,363

Preferred unit distributions

20,329

 
17,393

 
68,802

 
83,771

 
79,423

 
67,465

 
42,905

Fixed charges and preferred unit distributions

$
111,721

 
$
84,672

 
$
376,648

 
$
364,454

 
$
303,282

 
$
284,316

 
$
266,268

Ratio of earnings to fixed charges

2.12

 
2.19

 
1.75

 
2.48

 
2.28

 
1.84

 
2.31

Ratio of earnings to fixed charges and preferred unit distributions

1.74

 
1.74

 
1.43

 
1.91

 
1.68

 
1.40

 
1.94



(1)
Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest).