XML 46 R31.htm IDEA: XBRL DOCUMENT v3.20.2
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.