Earnings per Common Share or Unit (Tables)

9 Months Ended

Sep. 30, 2021

Earnings per Common Share or Unit

Summary of Basic and Diluted Earnings Per Share and Unit

The computation of basic and diluted earnings per share and unit is shown below (in thousands, except share/unit and per share / per unit amounts):

Digital Realty Trust, Inc. Earnings per Common Share

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Net income (loss) available to common stockholders	$	124,094	$	(37,370)	$	623,869	$	219,165
Weighted average shares outstanding—basic		283,105,966		270,214,413		282,004,907		253,377,527
Potentially dilutive common shares:
Unvested incentive units		217,652		—		207,826		103,159
Unvested restricted stock		187,549		—		164,916		273,755
Forward equity offering		43,816		—		—		2,087,607
Market performance-based awards		244,555		—		295,071		520,531
Weighted average shares outstanding—diluted		283,799,538		270,214,413		282,672,720		256,362,579
Income (loss) per share:
Basic	$	0.44	$	(0.14)	$	2.21	$	0.86
Diluted	$	0.44	$	(0.14)	$	2.21	$	0.85

Digital Realty Trust, L.P. Earnings per Unit

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Net income (loss) available to common unitholders	$	127,094	$	(38,370)	$	639,869	$	227,365
Weighted average units outstanding—basic		289,535,213		278,079,187		288,897,093		261,416,412
Potentially dilutive common units:
Unvested incentive units		217,652		—		207,826		103,159
Unvested restricted units		187,549		—		164,916		273,755
Forward equity offering		43,816		—		—		2,087,607
Market performance-based awards		244,555		—		295,071		520,531
Weighted average units outstanding—diluted		290,228,785		278,079,187		289,564,906		264,401,464
Income (loss) per unit:
Basic	$	0.44	$	(0.14)	$	2.21	$	0.87
Diluted	$	0.44	$	(0.14)	$	2.21	$	0.86

Schedule of Antidilutive Securities Excluded from Calculations

	Three Months Ended September 30,		Nine Months Ended September 30,
	2021	2020	2021	2020
Unvested incentive units	—	154,178	—	—
Unvested restricted stock	—	2,459,322	—	—
Shares subject to Forward Equity Offering	—	512,442	6,250,000	—
Market performance-based awards	—	318,386	—	—
Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc. (excluded only from calculation of earnings per share)	6,429,247	7,864,774	6,892,186	8,038,885
Potentially dilutive Series C Cumulative Redeemable Perpetual Preferred Stock	—	1,417,537	721,665	1,485,177
Potentially dilutive Series G Cumulative Redeemable Preferred Stock	—	1,757,668	—	1,841,538
Potentially dilutive Series I Cumulative Redeemable Preferred Stock	—	1,304,786	—	1,692,046
Potentially dilutive Series J Cumulative Redeemable Preferred Stock	1,319,861	1,403,969	1,366,311	1,470,961
Potentially dilutive Series K Cumulative Redeemable Preferred Stock	1,387,905	1,476,350	1,436,750	1,546,796
Potentially dilutive Series L Cumulative Redeemable Preferred Stock	2,276,479	2,421,547	2,356,596	2,535,929
Total	11,413,492	21,090,959	19,023,508	18,611,332