Equity and Accumulated Other Comprehensive Loss, Net (Tables)

3 Months Ended

Mar. 31, 2019

Ownership Interest In The Operating Partnership

The following table shows the ownership interests in the Operating Partnership as of March 31, 2019 and December 31, 2018:



	March 31, 2019			December 31, 2018
	Number of units	Percentage of total		Number of units	Percentage of total
Digital Realty Trust, Inc.	208,214,139	95.6	%	206,425,656	95.1	%
Noncontrolling interests consist of:
Common units held by third parties	4,858,794	2.2	%	6,297,272	2.9	%
Issuance of units in connection with Ascenty Acquisition	2,338,874	1.1	%	2,338,874	1.1	%
Incentive units held by employees and directors (see Note 13)	2,275,791	1.1	%	1,944,738	0.9	%
	217,687,598	100.0	%	217,006,540	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 three months ended March 31, 2019:



	Common Units		Incentive Units		Total
As of December 31, 2018	8,636,146		1,944,738		10,580,884
Redemption of common units for shares of Digital Realty Trust, Inc. common stock ⁽¹⁾	(1,438,478	)	—		(1,438,478	)
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock ⁽¹⁾	—		(79,398	)	(79,398	)
Incentive units issued upon achievement of market performance condition	—		308,308		308,308
Grant of incentive units to employees and directors	—		105,843		105,843
Cancellation / forfeitures of incentive units held by employees and directors	—		(3,700	)	(3,700	)
As of March 31, 2019	7,197,668		2,275,791		9,473,459


(1)	Redemption / conversion of common units was 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 condensed consolidated balance sheet of Digital Realty Trust, Inc.

Schedule of Dividends

We have declared and paid the following dividends on our common and preferred stock for the three months ended March 31, 2019 (in thousands, except per share data):



Date dividend declared	Dividend payment date	Series C Preferred Stock		Series G Preferred Stock		Series H Preferred Stock		Series I Preferred Stock		Series J Preferred Stock		Common Stock
February 21, 2019	March 29, 2019	$	3,333	$	3,672	$	6,730	$	3,969	$	2,625	$	224,802

Annual rate of dividend per share		$	1.65625	$	1.46875	$	1.84375	$	1.58750	$	1.31250	$	4.32000

Schedule of Accumulated Other Comprehensive Income, Net

The accumulated balances for each item within other comprehensive income (loss), net are as follows (in thousands):



	Foreign currency translation adjustments			Cash flow hedge adjustments			Foreign currency net investment hedge adjustments		Accumulated other comprehensive income (loss), net
Balance as of December 31, 2018	$	(158,649	)	$	17,264		$	25,738	$	(115,647	)
Net current period change	7,880			(3,614		)	—		4,266
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty	21,687			—			—		21,687
Reclassification to interest expense from interest rate swaps	—			(2,005		)	—		(2,005		)
Balance as of March 31, 2019	$	(129,082	)	$	11,645		$	25,738	$	(91,699	)