EX-12.1 4 dft_q4x12312015xex121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

DuPont Fabros Technology, Inc.
DuPont Fabros Technology, L.P.
Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)

 
Year ended December 31,
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings:
 
 
 
 
 
 
 
 
 
Net (loss) income
$
(4,086
)
 
$
124,611

 
$
53,605

 
$
60,833

 
$
79,480

Add: Fixed charges
56,160

 
47,059

 
53,920

 
56,100

 
58,077

Less: Capitalized interest
(12,301
)
 
(10,245
)
 
(4,000
)
 
(4,711
)
 
(28,411
)
Total earnings
$
39,773

 
$
161,425

 
$
103,525

 
$
112,222

 
$
109,146

 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
40,570

 
$
33,699

 
$
46,443

 
$
47,765

 
$
27,096

Capitalized interest
11,564

 
9,644

 
3,774

 
4,434

 
27,024

Amortization of deferred financing costs
3,151

 
2,980

 
3,349

 
3,496

 
2,446

Capitalization of amortization of deferred financing costs
737

 
601

 
226

 
277

 
1,387

Interest factor in rents
138

 
135

 
128

 
128

 
124

Total fixed charges
$
56,160

 
$
47,059

 
$
53,920

 
$
56,100

 
$
58,077

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
(1)

 
3.43

 
1.92

 
2.00

 
1.88


(1)
The shortfall of earnings to fixed charges for the year ended December 31, 2015 was $16.4 million. Included in earnings for the year was a $122.5 million impairment charge related to our NJ1 data center facility.