Attached files
Exhibit 12.1
Digital Realty Trust, Inc. and Subsidiaries
Statement of Computation of Ratios
(in thousands, except ratios)
Six Months Ended June 30, | Year Ended December 31, | |||||||||||||||||||||||||||
2015 | 2014 | 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||
Income from continuing operations before noncontrolling interests | $ | 260,322 | $ | 108,049 | $ | 203,415 | $ | 320,449 | $ | 216,047 | $ | 162,126 | $ | 105,412 | ||||||||||||||
Interest expense | 91,580 | 96,520 | 191,085 | 189,399 | 157,108 | 149,350 | 137,384 | |||||||||||||||||||||
Interest within rental expense (1) | 2,989 | 2,644 | 5,393 | 7,687 | 3,410 | 2,847 | 2,604 | |||||||||||||||||||||
Noncontrolling interests in consolidated joint ventures | (225 | ) | (232 | ) | (465 | ) | (595 | ) | 444 | 324 | 288 | |||||||||||||||||
Earnings available to cover fixed charges | $ | 354,666 | $ | 206,981 | $ | 399,428 | $ | 516,940 | $ | 377,009 | $ | 314,647 | $ | 245,688 | ||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 91,580 | $ | 96,520 | $ | 191,085 | $ | 189,399 | $ | 157,108 | $ | 149,350 | $ | 137,384 | ||||||||||||||
Interest within rental expense (1) | 2,989 | 2,644 | 5,393 | 7,687 | 3,410 | 2,847 | 2,604 | |||||||||||||||||||||
Capitalized interest | 7,501 | 10,200 | 20,373 | 26,277 | 21,456 | 17,905 | 10,241 | |||||||||||||||||||||
Total fixed charges | 102,070 | 109,364 | 216,851 | 223,363 | 181,974 | 170,102 | 150,229 | |||||||||||||||||||||
Preferred stock dividends | 36,911 | 30,555 | 67,465 | 42,905 | 38,672 | 25,397 | 37,004 | |||||||||||||||||||||
Fixed charges and preferred stock dividends | $ | 138,981 | $ | 139,919 | $ | 284,316 | $ | 266,268 | $ | 220,646 | $ | 195,499 | $ | 187,233 | ||||||||||||||
Ratio of earnings to fixed charges | 3.47 | 1.89 | 1.84 | 2.31 | 2.07 | 1.85 | 1.64 | |||||||||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends | 2.55 | 1.48 | 1.40 | 1.94 | 1.71 | 1.61 | 1.31 |
(1) | Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest). |
Digital Realty Trust, L.P. and Subsidiaries
Statement of Computation of Ratios
(in thousands, except ratios)
Six Months Ended June 30, | Year Ended December 31, | |||||||||||||||||||||||||||
2015 | 2014 | 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||
Income from continuing operations before noncontrolling interests | $ | 260,322 | $ | 108,049 | $ | 203,415 | $ | 320,449 | $ | 216,047 | $ | 162,126 | $ | 105,412 | ||||||||||||||
Interest expense | 91,580 | 96,520 | 191,085 | 189,399 | 157,108 | 149,350 | 137,384 | |||||||||||||||||||||
Interest within rental expense (1) | 2,989 | 2,644 | 5,393 | 7,687 | 3,410 | 2,847 | 2,604 | |||||||||||||||||||||
Noncontrolling interests in consolidated joint ventures | (225 | ) | (232 | ) | (465 | ) | (595 | ) | 444 | 324 | 288 | |||||||||||||||||
Earnings available to cover fixed charges | $ | 354,666 | $ | 206,981 | $ | 399,428 | $ | 516,940 | $ | 377,009 | $ | 314,647 | $ | 245,688 | ||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 91,580 | $ | 96,520 | $ | 191,085 | $ | 189,399 | $ | 157,108 | $ | 149,350 | $ | 137,384 | ||||||||||||||
Interest within rental expense (1) | 2,989 | 2,644 | 5,393 | 7,687 | 3,410 | 2,847 | 2,604 | |||||||||||||||||||||
Capitalized interest | 7,501 | 10,200 | 20,373 | 26,277 | 21,456 | 17,905 | 10,241 | |||||||||||||||||||||
Total fixed charges | 102,070 | 109,364 | 216,851 | 223,363 | 181,974 | 170,102 | 150,229 | |||||||||||||||||||||
Preferred unit distributions | 36,911 | 30,555 | 67,465 | 42,905 | 38,672 | 25,397 | 37,004 | |||||||||||||||||||||
Fixed charges and preferred unit distributions | $ | 138,981 | $ | 139,919 | $ | 284,316 | $ | 266,268 | $ | 220,646 | $ | 195,499 | $ | 187,233 | ||||||||||||||
Ratio of earnings to fixed charges | 3.47 | 1.89 | 1.84 | 2.31 | 2.07 | 1.85 | 1.64 | |||||||||||||||||||||
Ratio of earnings to fixed charges and preferred unit distributions | 2.55 | 1.48 | 1.40 | 1.94 | 1.71 | 1.61 | 1.31 |
(1) | Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest). |