Equity and Accumulated Other Comprehensive Loss, Net (Tables)

9 Months Ended

Sep. 30, 2020

Equity and Accumulated Other Comprehensive Loss, Net

Ownership Interest In The Operating Partnership

	September 30, 2020			December 31, 2019
	Number of	Percentage of		Number of	Percentage of
	units	total		units	total
Digital Realty Trust, Inc.	279,920,621	97.2	%	208,900,758	95.9	%
Noncontrolling interests consist of:
Common units held by third parties	6,291,091	2.2	%	6,820,201	3.2	%
Incentive units held by employees and directors (see Note 15)	1,875,570	0.6	%	2,022,954	0.9	%
	288,087,282	100.0	%	217,743,913	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 nine months ended September 30, 2020:

	Common Units	Incentive Units	Total
As of December 31, 2019	6,820,201	2,022,954	8,843,155
Redemption of common units for shares of Digital Realty Trust, Inc. common stock (1)	(529,110)	—	(529,110)
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (1)	—	(398,399)	(398,399)
Incentive units issued upon achievement of market performance condition	—	126,845	126,845
Grant of incentive units to employees and directors	—	126,933	126,933
Cancellation / forfeitures of incentive units held by employees and directors	—	(2,763)	(2,763)
As of September 30, 2020	6,291,091	1,875,570	8,166,661

(1) These redemptions and conversions were 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 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 nine months ended September 30, 2020 (in thousands, except per share data):

		Series C		Series G		Series I			Series J		Series K		Series L
		Preferred		Preferred		Preferred			Preferred		Preferred		Preferred		Common
Date dividend declared	Dividend payment date	Stock		Stock (1)		Stock			Stock		Stock		Stock		Stock
February 26, 2020	March 31, 2020	$	3,333	$	3,672	$	3,969		$	2,625	$	3,071	$	4,485	$	295,630
May 12, 2020	June 30, 2020		3,333		3,672		3,969			2,625		3,071		4,485		301,005
August 11, 2020	September 30, 2020		3,333		3,672		—	(2)		2,625		3,071		4,485		303,006
		$	9,999	$	11,016	$	7,938		$	7,875	$	9,213	$	13,455	$	899,641
Annual rate of dividend per share		$	1.65625	$	1.46875	$	1.58750		$	1.31250	$	1.46250	$	1.30000	$	4.48000

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		Cash flow		Foreign currency net		Accumulated other
	translation		hedge		investment hedge		comprehensive
	adjustments		adjustments		adjustments		income (loss), net
Balance as of December 31, 2019	$	(114,947)	$	1,287	$	25,738	$	(87,922)
Net current period change		(44,263)		(12,259)		13,142		(43,380)
Reclassification to interest expense from interest rate swaps		—		7,679		—		7,679
Balance as of September 30, 2020	$	(159,210)	$	(3,293)	$	38,880	$	(123,623)