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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:          
Net income $ 59,508 $ 349,326 $ 362,730 $ 599,221 $ 341,115
Adjustments to reconcile net income to net cash provided by operating activities:          
Gain on disposition of properties / deconsolidation, net     (316,894) (335,148) (80,049)
Gain on sale of marketable equity security     (17,883)    
Unrealized gain on marketable equity security     (577) (46,492) (1,631)
Impairment of investments in real estate     6,482 5,351  
Equity in loss (earnings) of unconsolidated joint ventures     57,629 (8,067) (32,979)
Distributions from unconsolidated joint ventures     39,878 44,293 21,905
Write-off due to early lease terminations     9 11,400 2,818
Depreciation and amortization of buildings and improvements, tenant improvements and acquired ground leases     1,010,538 809,472 770,275
Amortization of customer relationship value, acquired in-place lease value and deferred leasing costs     355,841 354,302 416,621
Amortization of share-based compensation     74,577 34,905 27,159
Non-cash amortization of terminated swaps     1,046 1,047 1,120
Allowance for doubtful accounts     6,480 2,159 6,304
Amortization of deferred financing costs     15,286 13,362 11,537
Loss from early extinguishment of debt     103,215 39,157 1,568
Amortization of debt discount/premium     3,916 2,260 3,538
Amortization of acquired above-market leases and acquired below-market leases, net     12,686 17,097 26,530
Changes in assets and liabilities:          
Accounts and other receivables     2,432 (8,435) (21,318)
Deferred rent     (30,430) (47,858) (39,905)
Deferred leasing costs     (60,966) (31,270) (72,104)
Other assets     (14,363) (15,599) (9,145)
Accounts payable, operating lease liabilities and other accrued liabilities     72,280 77,597 63,476
Deferred tax liability, net     10,545 (9,442) (24,284)
Security deposits and prepaid rents     12,084 4,505 (27,227)
Net cash provided by operating activities     1,706,541 1,513,817 1,385,324
Cash flows from investing activities:          
Improvements to investments in real estate     (2,064,066) (1,436,902) (1,325,162)
Cash paid for acquisitions     (1,029,652) (75,704) (2,090,542)
Deconsolidation of Ascenty cash       (97,081)  
Proceeds from joint venture transactions       1,494,881  
Proceeds from sale of marketable equity security     70,019 0 0
Cash assumed in acquisitions     121,085   116,000
Proceeds from sale of assets, net of sales costs     564,615   286,204
Investments in unconsolidated joint ventures     (144,323) (101,101) (673)
Prepaid construction costs and other investments     (86,887) (20,672) (13,254)
Improvement advances to tenants     (114,614) (66,078) (48,502)
Collection of improvement advances to tenants     84,476 27,665 39,936
Net cash used in investing activities     (2,599,347) (274,992) (3,035,993)
Cash flows from financing activities:          
Borrowings on global revolving credit facilities     3,638,932 3,099,685 3,046,245
Repayments on global revolving credit facilities     (3,476,821) (4,512,073) (1,945,594)
Borrowings on unsecured term loans         467,922
Repayments on unsecured term loans     (300,000) (375,000) (674,332)
Borrowings on unsecured senior notes     3,573,120 2,869,240 1,169,006
Repayments on unsecured senior notes     (2,623,383) (1,539,613)  
Borrowings on secured debt         600,000
Principal payments on secured debt     (5,541) (688) (594)
Payment of loan fees and costs     (23,921) (20,944) (44,299)
Premium paid for early extinguishment of debt     (96,124) (35,067)  
Capital contributions from noncontrolling interests in consolidated joint ventures, net     102,285 63,173 66,124
Proceeds from common and preferred stock offerings, net     1,879,957 535,620 (3,861)
Redemption of preferred stock     (500,000) (365,050)  
Proceeds from equity plans     6,503 5,462 5,874
Proceeds from forward swap contract         1,560
Payment of dividends to preferred stockholders     (76,536) (74,990) (81,316)
Payment of dividends to common stockholders and distributions to noncontrolling interests in operating partnership     (1,162,782) (921,776) (849,466)
Net cash provided by (used in) financing activities     935,689 (1,272,021) 1,757,269
Net increase (decrease) in cash, cash equivalents and restricted cash     42,883 (33,196) 106,600
Effect of exchange rate changes on cash, cash equivalents and restricted cash     (16,484) (4,773) 15,441
Cash, cash equivalents and restricted cash at beginning of year     97,253 135,222 13,181
Cash, cash equivalents and restricted cash at end of year 123,652 97,253 123,652 97,253 135,222
Supplemental disclosure of cash flow information:          
Cash paid for interest, net of amounts capitalized     301,938 312,848 288,643
Cash paid for income taxes     20,055 14,607 11,224
Supplementary disclosure of noncash investing and financing activities:          
Change in net assets related to foreign currency translation adjustments     230,340 45,662 (11,736)
(Decrease) increase in other assets related to change in fair value of interest rate swaps     (12,425) (9,232) 8,197
Noncontrolling interests in operating partnership converted to shares of common stock     92,553 190,514 149,547
Accrual for additions to investments in real estate and tenant improvement advances included in accounts payable and other accrued liabilities     358,694 197,665 189,508
Assumption of capital lease obligations upon acquisition         75,030
Non-cash derecognition of capital lease obligation         17,294
Decrease to goodwill and deferred tax liability       (9,436)  
Allocation of purchase price of other business combinations and asset acquisitions:          
Investment in real estate     945,144 74,903 410,712
Cash and cash equivalents     12,537    
Account receivables     (8,509) (76)  
Operating lease right-of-use assets     1,332    
Goodwill     188,654    
Customer relationship value and other intangibles     68,406 725  
Other assets     1,326    
Secured debt     (139,569)    
Accounts payable and other accrued liabilities     (20,717)    
Operating lease liabilities     (1,384)    
Security deposits and prepaid rents     (703)    
Common stock issued     (28,168)    
Noncontrolling interests in consolidated joint venture     (5,715)    
Cash paid for acquisition of real estate     1,029,652 75,704 410,712
Allocation of purchase price to business combinations:          
Land 897,181   897,181    
Operating lease right-of-use assets 1,386,959 628,681 1,386,959 628,681  
Noncontrolling interests in consolidated joint ventures (119,659) (20,625) (119,659) (20,625)  
Deconsolidation of Ascenty:          
Investment in real estate (21,731,112) (15,517,684) (21,731,112) (15,517,684)  
Account receivables (603,111) (305,501) (603,111) (305,501)  
Goodwill (8,330,996) (3,363,070) (8,330,996) (3,363,070) (4,348,007)
Other assets (264,528) (259,376) (264,528) (259,376)  
Secured debt 239,222 104,934 239,222 104,934  
Accounts payable and other accrued liabilities 1,420,162 1,009,154 1,420,162 1,009,154  
Non-controlling interest in consolidated joint venture 1,148,158 1,287,109 1,148,158 1,287,109  
Accumulated other comprehensive loss 135,010 (87,922) 135,010 (87,922)  
Deconsolidation of Ascenty cash       (97,081)  
DFT Merger          
Deconsolidation of Ascenty:          
Goodwill (2,592,146) (2,592,146) (2,592,146) (2,592,146) (2,592,146)
InterXion          
Allocation of purchase price to business combinations:          
Land 190,970   190,970    
Building and improvements 3,166,988   3,166,988   425,000
Construction in progress and space held for development 397,825   397,825    
Operating lease right-of-use assets 553,987   553,987    
Goodwill 4,338,711   4,338,711   982,667
Customer relationship value and other intangibles 1,052,811   1,052,811   495,000
Debt assumed (1,662,276)   (1,662,276)    
Operating lease liabilities (47,797)   (47,797)    
Finance lease obligations (553,987)   (553,987)    
Deferred tax liability (535,990)   (535,990)    
Noncontrolling interests in operating partnership         (253,837)
Noncontrolling interests in consolidated joint ventures         (25,000)
Other working capital liabilities, net (24,738)   (24,738)   60,000
Total equity consideration (2020) or cash paid (2018) 6,876,504   6,876,504   1,563,830
Assumed cash and cash equivalents 108,548   108,548   116,000
Deconsolidation of Ascenty:          
Goodwill (4,718,867) 0 (4,718,867) 0  
Preferred Stock | InterXion          
Allocation of purchase price to business combinations:          
Total purchase consideration     6,985,052 0 1,679,830
Digital Realty Trust, L.P.          
Cash flows from operating activities:          
Net income 59,508 349,326 362,730 599,221 341,115
Adjustments to reconcile net income to net cash provided by operating activities:          
Gain on disposition of properties / deconsolidation, net     (316,894) (335,148) (80,049)
Gain on sale of marketable equity security     (17,883)    
Unrealized gain on marketable equity security     (577) (46,492) (1,631)
Impairment of investments in real estate     6,482 5,351  
Equity in loss (earnings) of unconsolidated joint ventures     57,629 (8,067) (32,979)
Distributions from unconsolidated joint ventures     39,878 44,293 21,905
Write-off due to early lease terminations     9 11,400 2,818
Depreciation and amortization of buildings and improvements, tenant improvements and acquired ground leases     1,010,538 809,472 770,275
Amortization of customer relationship value, acquired in-place lease value and deferred leasing costs     355,841 354,302 416,621
Amortization of share-based compensation     74,577 34,905 27,159
Non-cash amortization of terminated swaps     1,046 1,047 1,120
Allowance for doubtful accounts     6,480 2,159 6,304
Amortization of deferred financing costs     15,286 13,362 11,537
Loss from early extinguishment of debt     103,215 39,157 1,568
Amortization of debt discount/premium     3,916 2,260 3,538
Amortization of acquired above-market leases and acquired below-market leases, net     12,686 17,097 26,530
Changes in assets and liabilities:          
Accounts and other receivables     2,432 (8,435) (21,318)
Deferred rent     (30,430) (47,858) (39,905)
Deferred leasing costs     (60,966) (31,270) (72,104)
Other assets     (14,363) (15,599) (9,145)
Accounts payable, operating lease liabilities and other accrued liabilities     72,280 77,597 63,476
Deferred tax liability, net     10,545 (9,442) (24,284)
Security deposits and prepaid rents     12,084 4,505 (27,227)
Net cash provided by operating activities     1,706,541 1,513,817 1,385,324
Cash flows from investing activities:          
Improvements to investments in real estate     (2,064,066) (1,436,902) (1,325,162)
Cash paid for acquisitions     (1,029,652) (75,704) (2,090,542)
Deconsolidation of Ascenty cash       (97,081)  
Proceeds from joint venture transactions       1,494,881  
Proceeds from sale of marketable equity security     70,019    
Cash assumed in acquisitions     121,085   116,000
Proceeds from sale of assets, net of sales costs     564,615   286,204
Investments in unconsolidated joint ventures     (144,323) (101,101) (673)
Prepaid construction costs and other investments     (86,887) (20,672) (13,254)
Improvement advances to tenants     (114,614) (66,078) (48,502)
Collection of improvement advances to tenants     84,476 27,665 39,936
Net cash used in investing activities     (2,599,347) (274,992) (3,035,993)
Cash flows from financing activities:          
Borrowings on global revolving credit facilities     3,638,932 3,099,685 3,046,245
Repayments on global revolving credit facilities     (3,476,821) (4,512,073) (1,945,594)
Borrowings on unsecured term loans         467,922
Repayments on unsecured term loans     (300,000) (375,000) (674,332)
Borrowings on unsecured senior notes     3,573,120 2,869,240 1,169,006
Repayments on unsecured senior notes     (2,623,383) (1,539,613)  
Borrowings on secured debt         600,000
Principal payments on secured debt     (5,541) (688) (594)
Payment of loan fees and costs     (23,921) (20,944) (44,299)
Premium paid for early extinguishment of debt     (96,124) (35,067)  
Capital contributions from noncontrolling interests in consolidated joint ventures, net     102,285 63,173 66,124
General partner contributions     1,886,460 541,082 2,013
General partner distributions     (500,000) (365,050)  
Proceeds from forward swap contract         1,560
Payment of dividends to preferred stockholders     (76,536) (74,990) (81,316)
Payment of dividends to common stockholders and distributions to noncontrolling interests in operating partnership     (1,162,782) (921,776) (849,466)
Net cash provided by (used in) financing activities     935,689 (1,272,021) 1,757,269
Net increase (decrease) in cash, cash equivalents and restricted cash     42,883 (33,196) 106,600
Effect of exchange rate changes on cash, cash equivalents and restricted cash     (16,484) (4,773) 15,441
Cash, cash equivalents and restricted cash at beginning of year     97,253 135,222 13,181
Cash, cash equivalents and restricted cash at end of year 123,652 97,253 123,652 97,253 135,222
Supplemental disclosure of cash flow information:          
Cash paid for interest, net of amounts capitalized     301,938 312,848 288,643
Cash paid for income taxes     20,055 14,607 11,224
Supplementary disclosure of noncash investing and financing activities:          
Change in net assets related to foreign currency translation adjustments     230,340 45,662 (11,736)
(Decrease) increase in other assets related to change in fair value of interest rate swaps     (12,425) (9,232) 8,197
Limited Partner common units converted to General Partner common units     92,553 190,514 149,547
Accrual for additions to investments in real estate and tenant improvement advances included in accounts payable and other accrued liabilities     358,694 197,665 189,508
Assumption of capital lease obligations upon acquisition         75,030
Non-cash derecognition of capital lease obligation         17,294
Decrease to goodwill and deferred tax liability       (9,436)  
Allocation of purchase price of other business combinations and asset acquisitions:          
Investment in real estate     945,144 74,903 410,712
Cash and cash equivalents     12,537    
Account receivables     8,509 76  
Operating lease right-of-use assets     1,332    
Goodwill     188,654    
Customer relationship value and other intangibles     68,406 725  
Other assets     1,326    
Secured debt     (139,569)    
Accounts payable and other accrued liabilities     (20,717)    
Operating lease liabilities     (1,384)    
Security deposits and prepaid rents     (703)    
Common stock issued     (28,168)    
Noncontrolling interests in consolidated joint venture     (5,715)    
Cash paid for acquisition of real estate     1,029,652 75,704 410,712
Allocation of purchase price to business combinations:          
Operating lease right-of-use assets 1,386,959 628,681 1,386,959 628,681  
Noncontrolling interests in consolidated joint ventures (119,659) (20,625) (119,659) (20,625)  
Deconsolidation of Ascenty:          
Investment in real estate (21,731,112) (15,517,684) (21,731,112) (15,517,684)  
Account receivables (603,111) (305,501) (603,111) (305,501)  
Goodwill (8,330,996) (3,363,070) (8,330,996) (3,363,070)  
Other assets (264,528) (259,376) (264,528) (259,376)  
Secured debt 239,222 104,934 239,222 104,934  
Accounts payable and other accrued liabilities 1,420,162 1,009,154 1,420,162 1,009,154  
Non-controlling interest in consolidated joint venture 1,148,158 1,287,109 1,148,158 1,287,109  
Accumulated other comprehensive loss 134,800 (91,409) 134,800 (91,409)  
Deconsolidation of Ascenty cash       (97,081)  
Digital Realty Trust, L.P. | InterXion          
Allocation of purchase price to business combinations:          
Land 190,970   190,970    
Building and improvements 3,166,988   3,166,988   425,000
Construction in progress and space held for development 397,825   397,825    
Operating lease right-of-use assets 553,987   553,987    
Goodwill 4,338,711   4,338,711   982,667
Customer relationship value and other intangibles 1,052,811   1,052,811   495,000
Debt assumed (1,662,276)   (1,662,276)    
Operating lease liabilities (47,797)   (47,797)    
Finance lease obligations (553,987)   (553,987)    
Other working capital liabilities, net (24,738)   (24,738)   (60,000)
Deferred tax liability (535,990)   (535,990)    
Noncontrolling interests in operating partnership     0   (253,837)
Noncontrolling interests in consolidated joint ventures 0   0   (25,000)
Total equity consideration (2020) or cash paid (2018) 6,876,504   6,876,504   1,563,830
Assumed cash and cash equivalents 108,548   108,548   116,000
Total purchase consideration     6,985,052   $ 1,679,830
Ascenty Acquisition          
Cash flows from investing activities:          
Deconsolidation of Ascenty cash       (97,081)  
Allocation of purchase price to business combinations:          
Noncontrolling interests in consolidated joint ventures $ (21,900) (23,900) $ (21,900) (23,900)  
Deconsolidation of Ascenty:          
Investment in real estate   (362,951)   (362,951)  
Account receivables   (24,977)   (24,977)  
Acquired in-place lease value, deferred leasing costs and intangibles   (480,128)   (480,128)  
Goodwill   (967,189)   (967,189)  
Other assets   (31,099)   (31,099)  
Secured debt   571,873   571,873  
Accounts payable and other accrued liabilities   72,449   72,449  
Accumulated other comprehensive loss   (21,687)   (21,687)  
Deconsolidation of Ascenty cash       (97,081)  
Net carrying value of Ascenty assets and liabilities deconsolidated       (1,340,790)  
Recognition of retained investment in unconsolidated Ascenty joint venture   727,439   727,439  
Ascenty Acquisition | Digital Realty Trust, L.P.          
Cash flows from investing activities:          
Deconsolidation of Ascenty cash       (97,081)  
Deconsolidation of Ascenty:          
Investment in real estate   (362,951)   (362,951)  
Account receivables   (24,977)   (24,977)  
Acquired in-place lease value, deferred leasing costs and intangibles   (480,128)   (480,128)  
Goodwill   (967,189)   (967,189)  
Other assets   (31,099)   (31,099)  
Secured debt   571,873   571,873  
Accounts payable and other accrued liabilities   72,449   72,449  
Accumulated other comprehensive loss   21,687   21,687  
Deconsolidation of Ascenty cash       (97,081)  
Net carrying value of Ascenty assets and liabilities deconsolidated       1,340,790  
Recognition of retained investment in unconsolidated Ascenty joint venture   $ 727,439   $ 727,439