Exhibit 12.1
Digital Realty Trust, Inc.
Statement of Computation of Ratios
| Three Months Ended March 31, | ||||||
| 2006 | 2005 | |||||
| Income before minority interests |
$ | 6,918 | $ | 4,895 | ||
| Interest |
11,388 | 8,121 | ||||
| Interest within rental expense |
60 | 20 | ||||
| Minority interests in consolidated joint ventures |
15 | 3 | ||||
| Earnings available to cover fixed charges |
$ | 18,381 | $ | 13,039 | ||
| Fixed charges: |
||||||
| Interest |
$ | 11,388 | $ | 8,121 | ||
| Interest within rental expense |
60 | 20 | ||||
| Capitalized interest |
762 | — | ||||
| 12,210 | 8,141 | |||||
| Preferred stock dividends |
3,445 | 1,271 | ||||
| Fixed charges and preferred stock dividends |
$ | 15,655 | $ | 9,412 | ||
| Ratio of earnings to fixed charges |
1.51 | 1.60 | ||||
| Ratio of earnings to fixed charges and preferred stock dividends |
1.17 | 1.39 | ||||