Attached files
Exhibit 12.1
Digital Realty Trust, Inc. and Subsidiaries
Statement of Computation of Ratios (1)
(in thousands, except ratios)
Three Months Ended March 31, | Year Ended December 31, | |||||||||||||||||||||||
2011 | 2010 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||
Income from continuing operations before noncontrolling interests |
$ | 39,012 | $ | 25,586 | $ | 105,412 | $ | 91,234 | $ | 67,918 | $ | 22,546 | ||||||||||||
Interest expense |
36,082 | 30,902 | 137,384 | 88,442 | 63,621 | 67,054 | ||||||||||||||||||
Interest within rental expense |
700 | 621 | 2,604 | 2,633 | 2,619 | 1,971 | ||||||||||||||||||
Noncontrolling interests in consolidated joint ventures |
142 | 232 | 288 | (140 | ) | (335 | ) | | ||||||||||||||||
Earnings available to cover fixed charges |
$ | 75,936 | $ | 57,341 | $ | 245,688 | $ | 182,169 | $ | 133,823 | $ | 91,571 | ||||||||||||
Fixed charges: |
||||||||||||||||||||||||
Interest expense |
36,082 | 30,902 | $ | 137,384 | $ | 88,442 | $ | 63,621 | $ | 67,054 | ||||||||||||||
Interest within rental expense (2) |
700 | 621 | 2,604 | 2,633 | 2,619 | 1,971 | ||||||||||||||||||
Capitalized interest |
4,666 | 1,907 | 10,241 | 9,196 | 18,351 | 12,264 | ||||||||||||||||||
41,448 | 33,430 | 150,229 | 100,271 | 84,591 | 81,289 | |||||||||||||||||||
Preferred stock dividends |
6,522 | 10,101 | 37,004 | 40,404 | 38,564 | 19,330 | ||||||||||||||||||
Fixed charges and preferred stock dividends |
$ | 47,970 | $ | 43,531 | $ | 187,233 | $ | 140,675 | $ | 123,155 | $ | 100,619 | ||||||||||||
Ratio of earnings to fixed charges |
1.83 | 1.72 | 1.64 | 1.82 | 1.58 | 1.13 | ||||||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends |
1.58 | 1.32 | 1.31 | 1.29 | 1.09 | | (3) | |||||||||||||||||
(1) | All numbers presented in this exhibit exclude 100 Technology Center Drive (sold in March 2007) and 4055 Valley View Lane (sold in March 2007). |
(2) | Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest). |
(3) | For the year ended December 31, 2007, earnings were insufficient to cover fixed charges and preferred dividends by $9,048. |
Digital Realty Trust, L.P. and Subsidiaries
Statement of Computation of Ratios (1)
(in thousands, except ratios)
Three Months Ended March 31, | Year Ended December 31, | |||||||||||||||||||||||
2011 | 2010 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||
Income from continuing operations before noncontrolling interests |
$ | 39,012 | $ | 25,586 | $ | 105,412 | $ | 91,234 | $ | 67,918 | $ | 22,546 | ||||||||||||
Interest expense |
36,082 | 30,902 | 137,384 | 88,442 | 63,621 | 67,054 | ||||||||||||||||||
Interest within rental expense |
700 | 621 | 2,604 | 2,633 | 2,619 | 1,971 | ||||||||||||||||||
Noncontrolling interests in consolidated joint ventures |
142 | 232 | 288 | (140 | ) | (335 | ) | | ||||||||||||||||
Earnings available to cover fixed charges |
$ | 75,936 | $ | 57,341 | $ | 245,688 | $ | 182,169 | $ | 133,823 | $ | 91,571 | ||||||||||||
Fixed charges: |
||||||||||||||||||||||||
Interest expense |
36,082 | 30,902 | $ | 137,384 | $ | 88,442 | $ | 63,621 | $ | 67,054 | ||||||||||||||
Interest within rental expense (2) |
700 | 621 | 2,604 | 2,633 | 2,619 | 1,971 | ||||||||||||||||||
Capitalized interest |
4,666 | 1,907 | 10,241 | 9,196 | 18,351 | 12,264 | ||||||||||||||||||
41,448 | 33,430 | 150,229 | 100,271 | 84,591 | 81,289 | |||||||||||||||||||
Preferred unit distributions |
6,522 | 10,101 | 37,004 | 40,404 | 38,564 | 19,330 | ||||||||||||||||||
Fixed charges and preferred unit distributions |
$ | 47,970 | $ | 43,531 | $ | 187,233 | $ | 140,675 | $ | 123,155 | $ | 100,619 | ||||||||||||
Ratio of earnings to fixed charges |
1.83 | 1.72 | 1.64 | 1.82 | 1.58 | 1.13 | ||||||||||||||||||
Ratio of earnings to fixed charges and preferred unit distributions |
1.58 | 1.32 | 1.31 | 1.29 | 1.09 | | (3) | |||||||||||||||||
(1) | All numbers presented in this exhibit exclude 100 Technology Center Drive (sold in March 2007) and 4055 Valley View Lane (sold in March 2007). |
(2) | Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest). |
(3) | For the year ended December 31, 2007, earnings were insufficient to cover fixed charges and preferred distributions by $9,048. |