EX-12.1 2 dex121.htm STATEMENT OF COMPUTATION OF RATIOS Statement of Computation of Ratios

Exhibit 12.1

 

STATEMENT OF COMPUTATION OF RATIOS

 

Digital Realty Trust, Inc.

 

RATIO OF EARNINGS TO FIXED CHARGES, PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES

AND PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

RATIO OF EBITDA TO FIXED CHARGES, PRO FORMA RATIO OF EBITDA TO FIXED CHARGES

AND PRO FORMA RATIO OF EBITDA TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

 

                          The Predecessor
  
    The Company
   The Predecessor
   The Company
   The Company
and the
Predecessor
     Historical Combined
    

Period from
February 28,

2001
(inception)

through
December 31,

  
    Pro Forma
Consolidated
   Historical
Consolidated
   Historical
Combined
   Pro Forma
Consolidated
   Historical
Combined
      
    Three months ended March 31,
   Year Ended
     Year Ended December 31,
     Historical
Combined
  
    2005
   2005
   2004
   December 31,
2004
   December 31,
2004
         2003    
       2002    
     2001
  

Fixed Charges:

                                      

Interest

   10,459   8,121   3,813   41,860   24,461     10,091   5,249     —    

Interest within rental expense

   28   28   28   113   113     66   —       —    
   
 
 
 
 
 
 
 

Fixed Charges

   10,487   8,149   3,841   41,973   24,574     10,157   5,249     —    

EBITDA:

                                      

Net income (loss)

   3,763   2,739   3,461   5,371   4,557     16,642   (61 )   (2,758 )

Add Back Minority Interests in Operating Partnership

   4,628   2,159   —     6,608   (10,214 )   —     —       —    

Add Back Interest Expense

   10,459   8,121   3,813   41,860   24,461     10,091   5,249     —    

Add Back Depreciation and Amortization

   16,379   12,143   5,507   62,316   31,398     16,295   7,659     —    
   
 
 
 
 
 
 
 

EBITDA

   35,229   25,162   12,781   116,155   50,202     43,028   12,847     (2,758 )

Earnings:

                                      

Net Income (Loss) Before Minority Interest in Operating Partnership but after Minority Interest in Consolidated Joint Ventures

   8,391   4,898   3,461   11,979   (5,657 )   16,642   (61 )   (2,758 )

Add Back Fixed Charges

   10,487   8,149   3,841   41,973   24,574     10,157   5,249     —    
   
 
 
 
 
 
 
 

Earnings

   18,878   13,047   7,302   53,952   18,917     26,799   5,188     (2,758 )

Preferred Dividends

   3,300   1,271   —     13,198   —       —     —       —    

Ratio of Earnings to Fixed Charges

   —     1.60   1.90   —     0.77     2.64   0.99     —    

Pro Forma Ratio of Earnings to Fixed Charges

   1.80   —     —     1.29   —       —     —       —    

Ratio of Earnings to Fixed Charges and Preferred Dividends

   —     1.39   —     —     —       —     —       —    

Pro Forma Ratio of Earnings to Fixed Charges and Preferred Dividends

   1.37   —     —     0.98   —       —     —       —    

Ratio of EBITDA to Fixed Charges

   —     3.09   3.33   —     2.04     4.24   2.45     —    

Pro Forma Ratio of EBITDA to Fixed Charges

   3.36   —     —     2.77   —       —     —       —    

Ratio of EBITDA to Fixed Charges and Preferred Dividends

   —     2.67   —     —     —       —     —       —    

Pro Forma Ratio of EBITDA to Fixed Charges and Preferred Dividends

   2.56   —     —     2.11   —       —     —       —