DIGITAL REALTY TRUST, INC. - FORM 8-K - EX-12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - November 19, 2009

Attached files

file filename
8-K - FORM 8-K - DIGITAL REALTY TRUST, INC.d8k.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - DIGITAL REALTY TRUST, INC.dex231.htm
EX-99.1 - SELECTED FINANCIAL DATA - DIGITAL REALTY TRUST, INC.dex991.htm
EX-99.3 - FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - DIGITAL REALTY TRUST, INC.dex993.htm
EX-99.2 - MANAGEMENT'S DISCUSSION AND ANALYSIS - DIGITAL REALTY TRUST, INC.dex992.htm

Exhibit 12.1

Digital Realty Trust, Inc.

Statement of Computation of Ratios (1)

 

     Year ended December 31,    The Company and
the Predecessor (2)		  
     2008     2007     2006    2005    2004  

Income (loss) from continuing operations before noncontrolling interests

    $ 67,918      $ 22,546      $ 24,890    $ 24,460    $ (5,340 ) 

Interest expense

      63,621        67,054        50,598      35,381      21,768   

Interest within rental expense

      2,619        1,971        680      147      113   

Noncontrolling interests in consolidated joint ventures

      (335 )      —          —        —          (6) 
                                      

Earnings available to cover fixed charges

    $ 133,823      $ 91,571      $ 76,168    $ 59,988    $ 16,535   

Fixed charges:

             

Interest expense

    $ 63,621      $ 67,054      $ 50,598    $ 35,381    $ 21,768   

Interest within rental expense (3)

      2,619        1,971        680      147      113   

Capitalized interest

      18,351        12,264        4,028      279      —     
                                      
     84,591        81,289        55,306      35,807      21,881   

Preferred stock dividends

      38,564        19,330        13,780      10,014      —     
                                      

Fixed charges and preferred stock dividends

    $ 123,155      $ 100,619      $ 69,086    $ 45,821    $ 21,881   

Ratio of earnings to fixed charges

      1.58        1.13        1.38      1.68      —   (5) 

Ratio of earnings to fixed charges and preferred stock dividends

      1.09        —   (4)      1.10      1.31      —     
                                      

 

(1) All numbers presented in this exhibit exclude 7979 East Tufts Avenue (sold July 2006), 100 Technology Center Drive (sold in March 2007) and 4055 Valley View Lane (sold in March 2007).
(2) The Predecessor is not a legal entity; rather it is a combination of certain of the real estate subsidiaries of Global Innovation Partners, LLC, a Delaware limited liability company (GI Partners) contributed to the Company in connection with the IPO in November 2004, along with an allocation of certain assets, liabilities, revenues and expenses of GI Partners related to the real estate owned by such subsidiaries.
(3) Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest).
(4) For the year ended December 31, 2007, earnings were insufficient to cover fixed charges and preferred dividends by $9,048.
(5) For the year ended December 31, 2004, earnings were insufficient to cover fixed charges by $5,346.

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