Attached files
| file | filename |
|---|---|
| EX-32.2 - EX-32.2 - QTS Realty Trust, Inc. | qts-20171231ex3220f743b.htm |
| EX-32.1 - EX-32.1 - QTS Realty Trust, Inc. | qts-20171231ex3214079f2.htm |
| EX-31.4 - EX-31.4 - QTS Realty Trust, Inc. | qts-20171231ex3149c8712.htm |
| EX-31.3 - EX-31.3 - QTS Realty Trust, Inc. | qts-20171231ex313a6b084.htm |
| EX-31.2 - EX-31.2 - QTS Realty Trust, Inc. | qts-20171231ex31259256a.htm |
| EX-31.1 - EX-31.1 - QTS Realty Trust, Inc. | qts-20171231ex3119cedd7.htm |
| EX-23.1 - EX-23.1 - QTS Realty Trust, Inc. | qts-20171231ex2317da029.htm |
| EX-21.1 - EX-21.1 - QTS Realty Trust, Inc. | qts-20171231ex211451171.htm |
| EX-4.4 - EX-4.4 - QTS Realty Trust, Inc. | qts-20171231ex443a520bc.htm |
| 10-K - 10-K - QTS Realty Trust, Inc. | qts-20171231x10k.htm |
Exhibit 12.1
QTS Realty Trust, Inc.
QualityTech, LP
Computation of Ratio of Earnings to Combined Fixed Charges
|
|
|
Year ended December 31, |
||||||||||||||
|
|
|
2017 (1) |
|
2016 (1) |
|
2015 (1) |
|
2014 (1) |
|
2013 (2) |
||||||
|
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Pre-tax income (loss) from continuing operations |
|
$ |
(8,321) |
|
$ |
14,709 |
|
$ |
14,064 |
|
$ |
19,103 |
|
$ |
3,850 |
|
|
Add: Fixed charges |
|
|
45,506 |
|
|
35,322 |
|
|
31,715 |
|
|
22,079 |
|
|
23,093 |
|
|
Less: Capitalized interest |
|
|
(14,277) |
|
|
(11,372) |
|
|
(9,767) |
|
|
(6,525) |
|
|
(4,135) |
|
|
Total earnings |
|
$ |
22,908 |
|
$ |
38,659 |
|
$ |
36,012 |
|
$ |
34,657 |
|
$ |
22,808 |
|
|
Fixed Charges and Preferred Stock Dividends: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense (excluding amortization of deferred financing costs) |
|
$ |
26,884 |
|
$ |
19,613 |
|
$ |
17,865 |
|
$ |
12,535 |
|
$ |
15,949 |
|
|
Capitalized interest |
|
|
14,277 |
|
|
11,372 |
|
|
9,767 |
|
|
6,525 |
|
|
4,135 |
|
|
Amortization of deferred financing costs and bond discount |
|
|
3,639 |
|
|
3,545 |
|
|
3,424 |
|
|
2,774 |
|
|
2,775 |
|
|
Interest factor in rents |
|
|
706 |
|
|
792 |
|
|
659 |
|
|
245 |
|
|
234 |
|
|
Fixed Charges |
|
$ |
45,506 |
|
$ |
35,322 |
|
$ |
31,715 |
|
$ |
22,079 |
|
$ |
23,093 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of earnings to fixed charges |
|
|
0.50 |
|
|
1.09 |
|
|
1.14 |
|
|
1.57 |
|
|
- |
(3) |
|
(1) |
Consolidated results for the years ended December 31, 2017, 2016, 2015 and 2014 are the same for both QTS Realty Trust, Inc. and QualityTech, LP. |
|
(2) |
Due to the timing of the IPO of QTS Realty Trust, Inc., which was completed on October 15, 2013, the financial data and ratio of earnings to combined fixed charges for the year ended December 31, 2013 reflect the financial data and ratio of earnings to combined fixed charges for QTS Realty Trust, Inc. with its historical predecessor, QualityTech, LP. The financial data for the period from October 15, 2013 to December 31, 2013 was the same for both QTS Realty Trust, Inc. and QualityTech, LP. |
|
(3) |
The shortfall of earnings (loss) to fixed charges for the years ended December 31, 2013 was approximately $0.3 million. |