Business Combinations (Tables)

6 Months Ended

Jun. 30, 2020

Business Combinations

Summary of Preliminary Fair Value of Assets and Liabilities Acquired

The following table summarizes the acquired assets and liabilities recorded at their fair values as of the acquisition date (in thousands):

	Provisional				Final
	Amounts		Adjustments		Amounts
Land	$	310,310	$	(150,843)	$	159,467
Building and improvements		3,003,378		243,144		3,246,522
Construction in progress		311,702		(38,112)		273,590
Land held for development		33,447		—		33,447
Operating lease right-of-use assets		526,399		30,466		556,865
Cash and cash equivalents		108,548		—		108,548
Accounts receivables		218,868		—		218,868
Goodwill		4,192,504		251,352		4,443,856
Customer relationship value (1)		1,340,539		(338,971)		1,001,568
Other intangibles		—		44,943		44,943
Revolving credit facility		(128,282)		(2,045)		(130,327)
Mortgage loans		(74,316)		—		(74,316)
Unsecured debt		(1,434,666)		(22,969)		(1,457,635)
Accounts payable and other accrued liabilities		(230,585)		—		(230,585)
Finance lease obligations		(47,957)		—		(47,957)
Operating lease liabilities		(526,399)		(30,466)		(556,865)
Deferred tax liability, net		(559,291)		23,301		(535,990)
Other working capital liabilities, net		(68,947)		—		(68,947)
Total purchase price	$	6,975,252	$	9,800	$	6,985,052

(1) The weighted average amortization life for customer relationship value is 15 years.

Pro Forma Financial Information

	Pro forma (unaudited)
	(in thousands)
	Three Months Ended June 30,				Six Months Ended June 30,
Digital Realty Trust, Inc.	2020		2019		2020		2019
Total revenue	$	992,995	$	978,880	$	1,964,331	$	1,965,399
Net income available to common stockholders (1)	$	61,793	$	20,808	$	309,656	$	59,196

	Pro forma (unaudited)
	(in thousands)
	Three Months Ended June 30,				Six Months Ended June 30,
Digital Realty Trust, L.P.	2020		2019		2020		2019
Total revenue	$	992,995	$	978,880	$	1,964,331	$	1,965,399
Net income available to common unitholders (1)	$	63,193	$	22,208	$	318,856	$	64,896

(1) Pro forma net income available to common stockholders/unitholders was adjusted to exclude $8.1 million and $60.5 million of merger-related costs incurred by the Company during the three and six months ended June 30, 2020, respectively, and to include these charges for the corresponding periods in 2019.