EX-12.1 4 dft_q4x12312016xex121.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,
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings:
 
 
 
 
 
 
 
 
 
Net (loss) income
$
181,447

 
$
(4,086
)
 
$
124,611

 
$
53,605

 
$
60,833

Add: Fixed charges
63,615

 
56,160

 
47,059

 
53,920

 
56,100

Less: Capitalized interest
(11,009
)
 
(12,301
)
 
(10,245
)
 
(4,000
)
 
(4,711
)
Total earnings
$
234,053

 
$
39,773

 
$
161,425

 
$
103,525

 
$
112,222

 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
48,642

 
$
40,570

 
$
33,699

 
$
46,443

 
$
47,765

Capitalized interest
10,380

 
11,564

 
9,644

 
3,774

 
4,434

Amortization of deferred financing costs
3,712

 
3,151

 
2,980

 
3,349

 
3,496

Capitalization of amortization of deferred financing costs
629

 
737

 
601

 
226

 
277

Interest factor in rents
252

 
138

 
135

 
128

 
128

Total fixed charges
$
63,615

 
$
56,160

 
$
47,059

 
$
53,920

 
$
56,100

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
3.68

 
(1)

 
3.43

 
1.92

 
2.00


(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.