Income Per Share

12 Months Ended

Dec. 31, 2013

Income Per Share [Abstract]

Income Per Share

8. Income 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,
	2013	2012	2011
Net income available to common stockholders	$            271,583	$      171,662	$     130,868
Weighted average shares outstanding—basic	127,941,134	115,717,667	98,405,375
Potentially dilutive common shares:
Stock options	61,375	72,818	187,834
Class C Units (2007 Grant)	-	-	15,050
Unvested incentive units	125,132	216,092	190,771
Excess exchange value of the 2026 Debentures	-	-	370,719
Weighted average shares outstanding—diluted	128,127,641	116,006,577	99,169,749
Income per share:
Basic	$                  2.12	$            1.48	$           1.33
Diluted	$                  2.12	$            1.48	$           1.32

During the year ended December 31, 2011, the Operating Partnership’s remaining 4.125% exchangeable senior debentures due August 15, 2026 (2026 Debentures) were redeemed and exchanged. On or after July 15, 2026, the 2026 Debentures would have been exchangeable at the then-applicable exchange rate for cash (up to the principal amount of the 2026 Debentures) and, with respect to any excess exchange value, into cash, shares of Digital Realty Trust, Inc. common stock or a combination of cash and shares of Digital Realty Trust, Inc. common stock. The 2026 Debentures also would have been exchangeable prior to July 15, 2026, but only upon the occurrence of certain specified events, including if the weighted average common stock price exceeded a specified strike price as of the end of a fiscal quarter. Using the treasury stock method,370,719 shares of common stock contingently issuable upon settlement of the excess exchange value were included as potentially dilutive common shares in determining diluted earnings per share for the year ended December 31, 2011.  

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

	Year Ended December 31,
	2013	2012	2011
Weighted average of Operating Partnership common    units not owned by Digital Realty Trust, Inc.	2,521,400	4,143,713	4,647,629
Potentially dilutive 2029 Debentures	6,649,510	6,486,358	6,328,234
Potentially dilutive Series C Cumulative Convertible    Preferred Stock	-	814,063	3,016,780
Potentially dilutive Series D Cumulative Convertible    Preferred Stock	470,748	4,016,560	6,242,257
Potentially dilutive Series E Cumulative Redeemable    Preferred Stock	5,176,886	4,122,752	1,311,310
Potentially dilutive Series F Cumulative Redeemable    Preferred Stock	3,283,169	1,304,940	-
Potentially dilutive Series G Cumulative Redeemable    Preferred Stock	3,898,376	-	-
	22,000,089	20,888,386	21,546,210