Income per Unit (Tables)

12 Months Ended

Dec. 31, 2020

Class of Stock

Summary of Basic and Diluted Earnings Per Share

The following is a summary of basic and diluted income per share (in thousands, except share and per share amounts):

	Year Ended December 31,
	2020		2019		2018
Net income available to common stockholders	$	263,342	$	493,011	$	249,930
Weighted average shares outstanding—basic		260,098,978		208,325,823		206,035,408
Potentially dilutive common shares:
Unvested incentive units		120,775		165,185		141,260
Unvested restricted stock		177,244		—		—
Forward equity offering		1,596,476		813,073		33,315
Market performance-based awards		529,035		158,166		463,488
Weighted average shares outstanding—diluted		262,522,508		209,462,247		206,673,471
Income per share:
Basic	$	1.01	$	2.37	$	1.21
Diluted	$	1.00	$	2.35	$	1.21

Schedule of Antidilutive Securities Excluded from Calculations

	Year Ended December 31,
	2020	2019	2018
Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc.	7,974,005	8,958,932	8,227,463
Potentially dilutive Series C Cumulative Redeemable Perpetual Preferred Stock	1,489,983	1,695,765	1,876,584
Potentially dilutive Series G Cumulative Redeemable Preferred Stock	1,452,809	2,102,655	2,326,861
Potentially dilutive Series H Cumulative Redeemable Preferred Stock	—	789,846	3,409,772
Potentially dilutive Series I Cumulative Redeemable Preferred Stock	1,269,035	2,105,116	2,329,584
Potentially dilutive Series J Cumulative Redeemable Preferred Stock	1,475,721	1,679,534	1,858,622
Potentially dilutive Series K Cumulative Redeemable Preferred Stock	1,551,801	1,334,691	—
Potentially dilutive Series L Cumulative Redeemable Preferred Stock	2,543,639	670,823	—
Total	17,756,993	19,337,362	20,028,886

Digital Realty Trust, L.P.

Class of Stock

Summary of Basic and Diluted Earnings Per Share

The following is a summary of basic and diluted income per unit (in thousands, except unit and per unit amounts):

	Year Ended December 31,
	2020		2019		2018
Net income available to common unitholders	$	272,842	$	514,111	$	260,110
Weighted average units outstanding—basic		268,072,983		217,284,755		214,312,871
Potentially dilutive common units:
Unvested incentive units		120,775		165,185		141,260
Unvested restricted units		177,244		—		—
Forward equity offering		1,596,476		813,073		33,315
Market performance-based awards		529,035		158,166		463,488
Weighted average units outstanding—diluted		270,496,513		218,421,179		214,950,934
Income per unit:
Basic	$	1.02	$	2.37	$	1.21
Diluted	$	1.01	$	2.35	$	1.21

Schedule of Antidilutive Securities Excluded from Calculations

We have excluded the following potentially dilutive securities in the calculations above as they would be antidilutive or not dilutive:

	Year Ended December 31,
	2020	2019	2018
Potentially dilutive Series C Cumulative Redeemable Perpetual Preferred Units	1,489,983	1,695,765	1,876,584
Potentially dilutive Series G Cumulative Redeemable Preferred Units	1,452,809	2,102,655	2,326,861
Potentially dilutive Series H Cumulative Redeemable Preferred Units	—	789,846	3,409,772
Potentially dilutive Series I Cumulative Redeemable Preferred Units	1,269,035	2,105,116	2,329,584
Potentially dilutive Series J Cumulative Redeemable Preferred Units	1,475,721	1,679,534	1,858,622
Potentially dilutive Series K Cumulative Redeemable Preferred Units	1,551,801	1,334,691	—
Potentially dilutive Series L Cumulative Redeemable Preferred Units	2,543,639	670,823	—
Total	9,782,988	10,378,430	11,801,423