EX-12.1

EX-12.1 2 d580178dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Digital Realty Trust, Inc. and Subsidiaries

Statement of Computation of Ratios

(in thousands, except ratios)


		Six Months Ended June 30,								Year Ended December 31,
		2013				2012				2012				2011				2010				2009				2008
Income from continuing operations before noncontrolling interests		$	111,302			$	103,231			$	216,047			$	162,126			$	105,412			$	91,234			$	67,918
Interest expense			95,661				75,711				157,108				149,350				137,384				88,442				63,621
Interest within rental expense ⁽¹⁾			1,868				1,545				3,410				2,847				2,604				2,633				2,619
Noncontrolling interests in consolidated joint ventures			355				392				444				324				288				(140	)			(335	)

Earnings available to cover fixed charges		$	209,186			$	180,879			$	377,009			$	314,647			$	245,688			$	182,169			$	133,823
Fixed charges:
Interest expense		$	95,661			$	75,711			$	157,108			$	149,350			$	137,384			$	88,442			$	63,621
Interest within rental expense ⁽¹⁾			1,868				1,545				3,410				2,847				2,604				2,633				2,619
Capitalized interest			11,960				9,128				21,456				17,905				10,241				9,196				18,351

			109,489				86,384				181,974				170,102				150,229				100,271				84,591
Preferred stock dividends			19,453				19,144				38,672				25,397				37,004				40,404				38,564

Fixed charges and preferred stock dividends		$	128,942			$	105,528			$	220,646			$	195,499			$	187,233			$	140,675			$	123,155
Ratio of earnings to fixed charges			1.91				2.09				2.07				1.85				1.64				1.82				1.58
Ratio of earnings to fixed charges and preferred stock dividends			1.62				1.71				1.71				1.61				1.31				1.29				1.09

(1)	Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest).

Digital Realty Trust, L.P. and Subsidiaries

Statement of Computation of Ratios

(in thousands, except ratios)


		Six Months Ended June 30,								Year Ended December 31,
		2013				2012				2012				2011				2010				2009				2008
Income from continuing operations before noncontrolling interests		$	111,302			$	103,231			$	216,047			$	162,126			$	105,412			$	91,234			$	67,918
Interest expense			95,661				75,711				157,108				149,350				137,384				88,442				63,621
Interest within rental expense⁽¹⁾			1,868				1,545				3,410				2,847				2,604				2,633				2,619
Noncontrolling interests in consolidated joint ventures			355				392				444				324				288				(140	)			(335	)

Earnings available to cover fixed charges		$	209,186			$	180,879			$	377,009			$	314,647			$	245,688			$	182,169			$	133,823
Fixed charges:
Interest expense		$	95,661			$	75,711			$	157,108			$	149,350			$	137,384			$	88,442			$	63,621
Interest within rental expense ⁽¹⁾			1,868				1,545				3,410				2,847				2,604				2,633				2,619
Capitalized interest			11,960				9,128				21,456				17,905				10,241				9,196				18,351

			109,489				86,384				181,974				170,102				150,229				100,271				84,591
Preferred unit distributions			19,453				19,144				38,672				25,397				37,004				40,404				38,564

Fixed charges and preferred unit distributions		$	128,942			$	105,528			$	220,646			$	195,499			$	187,233			$	140,675			$	123,155
Ratio of earnings to fixed charges			1.91				2.09				2.07				1.85				1.64				1.82				1.58
Ratio of earnings to fixed charges and preferred unit distributions			1.62				1.71				1.71				1.61				1.31				1.29				1.09

(1)	Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest).