0001558370-21-002191 | 10-K | XBRL Viewer

Debt of the Operating Partnership

Debt Instrument

9. Debt of the Operating Partnership

A summary of outstanding indebtedness of the Operating Partnership as of December 31, 2020 and 2019 is as follows (in thousands):


	Interest Rate at					Principal			Principal
	December 31,					Outstanding at			Outstanding at
Indebtedness	2020		Maturity Date			December 31, 2020			December 31, 2019
Global revolving credit facilities	Various	⁽¹⁾		Jan 24, 2023	⁽¹⁾	$	540,184	⁽²⁾	$	245,766	⁽²⁾
Deferred financing costs, net							(8,279)			(11,661)
Global revolving credit facilities, net							531,905			234,105
Unsecured Term Loans
2023 Term Loan	Various	⁽³⁾⁽⁴⁾		Jan 15, 2023			—	⁽⁵⁾⁽⁹⁾		300,000	⁽⁵⁾
2024 Term Loan	Various	⁽³⁾⁽⁴⁾		Jan 24, 2023			537,470	^(5)(12)		513,205	⁽⁵⁾
Deferred financing costs, net							(890)			(2,986)
Unsecured term loans, net							536,580			810,219
Unsecured senior notes:
Senior Notes:
3.950% notes due 2022	3.950	%		Jul 1, 2022			—	⁽¹⁰⁾		500,000
Floating rate notes due 2022	EURIBOR + 0.500	%		Sep 23, 2022			366,480	⁽⁶⁾		—
3.625% notes due 2022	3.625	%		Oct 1, 2022			—	⁽¹⁰⁾		300,000
0.125% notes due 2022	0.125	%		Oct 15, 2022			366,480	⁽⁶⁾		—
2.750% notes due 2023	2.750	%		Feb 1, 2023			350,000	⁽¹³⁾		350,000
4.750% notes due 2023	4.750	%		Oct 13, 2023			—	⁽¹¹⁾		397,710	⁽⁷⁾
2.625% notes due 2024	2.625	%		Apr 15, 2024			732,960	⁽⁶⁾		672,780	⁽⁶⁾
2.750% notes due 2024	2.750	%		Jul 19, 2024			341,750	⁽⁷⁾		331,425	⁽⁷⁾
4.250% notes due 2025	4.250	%		Jan 17, 2025			546,800	⁽⁷⁾		530,280	⁽⁷⁾
0.625% notes due 2025	0.625	%		Jul 15, 2025			794,040	⁽⁶⁾		—
4.750% notes due 2025	4.750	%		Oct 1, 2025			450,000			450,000
2.500% notes due 2026	2.500	%		Jan 16, 2026			1,313,219	⁽⁶⁾		1,205,398	⁽⁶⁾
3.700% notes due 2027	3.700	%		Aug 15, 2027			1,000,000			1,000,000
1.125% notes due 2028	1.125	%		Apr 9, 2028			610,800	⁽⁶⁾		560,650	⁽⁶⁾
4.450% notes due 2028	4.450	%		Jul 15, 2028			650,000			650,000
3.600% notes due 2029	3.600	%		Jul 1, 2029			900,000			900,000
3.300% notes due 2029	3.300	%		Jul 19, 2029			478,450	⁽⁷⁾		463,995	⁽⁷⁾
1.500% notes due 2030	1.500	%		Mar 15, 2030			916,200	⁽⁶⁾		—
3.750% notes due 2030	3.750	%		Oct 17, 2030			751,850	⁽⁷⁾		729,135	⁽⁷⁾
1.250% notes due 2031	1.250	%		Feb 1, 2031			610,800	⁽⁶⁾		—
1.000% notes due 2032	1.000	%		Jan 15, 2032			916,200	⁽⁶⁾		—
Unamortized discounts, net of premiums							(34,988)			(16,145)
Total senior notes, net of discount							12,061,041			9,025,228
Deferred financing costs, net							(64,031)			(52,038)
Total unsecured senior notes, net of discount and deferred financing costs							11,997,010			8,973,190

Secured Debt:
731 East Trade Street	8.22	%		Jul 1, 2020		$	—	⁽⁸⁾	$	1,089
Secured note due March 2023	LIBOR + 1.000	% ⁽⁴⁾		Mar 1, 2023			104,000			104,000
Westin	3.290	%		Jul 11, 2027			135,000			—
Other secured debt							330			—
Unamortized net (discounts) / premiums							(4)			54
Total secured debt, including premiums							239,326			105,143
Deferred financing costs, net							(104)			(209)
Total secured debt, including premiums and net of deferred financing costs							239,222			104,934
Total indebtedness						$	13,304,717		$	10,122,448

(1)

The interest rate for borrowings under the global revolving credit facility equals the applicable index plus a margin of 90 basis points, which is based on the current credit ratings of our long-term debt. An annual facility fee of 20 basis points, which is based on the credit ratings of our long-term debt, is due and payable quarterly on the total commitment amount of the facility. Two six-month extensions are available, which we may exercise if certain

conditions are met. The interest rate for borrowings under the Yen revolving credit facility equals the applicable index plus a margin of 50 basis points, which is based on the current credit ratings of our long-term debt.

(2)	Balances as of December 31, 2020 and December 31, 2019 are as follows (balances, in thousands):


	Balance as of			Weighted-		Balance as of			Weighted-
	December 31,			average		December			average
Denomination of Draw	2020			interest rate		31, 2019			interest rate
Global Revolving Credit Facility
Floating Rate Borrowing (a) (d)
U.S. dollar ($)	$	40,000		1.05	%	$	—		—	%
British pound sterling (£)		47,845	^(b)	0.93	%		—		—	%
Euro (€)		284,633	^(b)	0.90	%		44,852	^(c)	0.90	%
Australian dollar (AUD)		—		—	%		1,264	^(c)	1.74	%
Singapore dollar (SGD)		111,340	^(b)	1.02	%		53,199	^(c)	2.46	%
Canadian dollar (CAD)		9,423	^(b)	1.36	%		—		—	%
Total	$	493,241		0.95	%	$	99,315		1.75	%

Yen Revolving Credit Facility (a)	$	46,943	^(e)	0.50	%	$	146,451	^(e)	0.50	%

Total borrowings	$	540,184		0.91	%	$	245,766		1.00	%

(a)

The interest rates for floating rate borrowings under the global revolving credit facility currently equal the applicable index, subject to a zero floor, plus a margin of 90 basis points, which is based on the current credit rating of our long-term debt. The interest rate for borrowings under the Yen revolving credit facility equals the applicable index, subject to a zero floor, plus a margin of 50 basis points, which is based on the current credit rating of our long-term debt.

(b)

Based on exchange rates of $1.37 to £1.00, $1.22 to €1.00, $0.76 to 1.00 SGD and $0.79 to 1.00 CAD, respectively, as of December 31, 2020.

(c)

Based on exchange rates of $1.12 to €1.00, $0.70 to 1.00 AUD and $0.74 to 1.00 SGD, respectively, as of December 31, 2019.

(d)

As of December 31, 2020, approximately $60.8 million of letters of credit were issued.

(e)

Based on exchange rates of $0.01 to 1.00 JPY for December 31, 2020 and 2019.

(3)	Interest rates are based on our current senior unsecured debt ratings and is currently 100 basis points over the applicable index for floating rate advances for the 2023 Term Loan and the 2024 Term Loan.

(4)	We have entered into interest rate swap agreements as a cash flow hedge for interest generated by a portion of U.S. dollar and Canadian dollar borrowings under the 2023 Term Loan and 2024 Term Loan, and the secured note due March 2023. See Note 16. "Derivative Instruments" for further information.

(5)	Balances as of December 31, 2020 and December 31, 2019 are as follows (balances, in thousands):


	Balance as of			Weighted-		Balance as of			Weighted-
	December 31,			average		December 31,			average
Denomination of Draw	2020			interest rate		2019			interest rate
U.S. dollar ($)	$	—		—	%	$	300,000		2.74	% (d)
Singapore dollar (SGD)		150,699	(a)	1.14	%		147,931	(c)	2.68	%
Australian dollar (AUD)		223,357	(a)	1.02	%		203,820	(c)	1.85	%
Hong Kong dollar (HKD)		86,062	(a)	1.27	%		85,629	(c)	3.60	%
Canadian dollar (CAD)		77,352	(a)	1.47	% (b)		75,825	(c)	3.00	% (d)
Total	$	537,470		1.16	% (b)	$	813,205		2.62	% (d)

(a)

Based on exchange rates of $0.76 to 1.00 SGD, $0.77 to 1.00 AUD, $0.13 to 1.00 HKD and $0.79 to 1.00 CAD, respectively, as of December 31, 2020.

(b)

As of December 31, 2020, the weighted-average interest rate reflecting interest rate swaps was 1.78% (Canadian dollar) and 1.20% (Total). See Note 16 for further discussion on interest rate swaps.

(c)

Based on exchange rates of $0.74 to 1.00 SGD, $0.70 to 1.00 AUD, $0.13 to 1.00 HKD and $0.77 to 1.00 CAD, respectively, as of December 31, 2019.

(d)

As of December 31, 2019, the weighted-average interest rate reflecting interest rate swaps was 2.44% (U.S. dollar), 1.78% (Canadian dollar) and 2.39% (Total). See Note 16 for further discussion on interest rate swaps.

(6)	Based on exchange rates of $1.22 to €1.00 as of December 31, 2020 and $1.12 to €1.00 as of December 31, 2019.

(7)	Based on exchange rates of $1.37 to £1.00 as of December 31, 2020 and $1.33 to £1.00 as of December 31, 2019.

(8)	Debt was repaid in full on April 13, 2020.

(9)	Debt was repaid in full on September 24, 2020. The payment resulted in an early extinguishment charge of approximately $0.9 million during the three months ended September 30, 2020.

(10)	The 3.950% 2022 Notes and 3.625% 2022 Notes were redeemed in full on August 3, 2020. The redemption resulted in an early extinguishment charge of approximately $52.1 million during the three months ended September 30, 2020.

(11)	The 4.750% 2023 Notes were redeemed in full on October 14, 2020. The redemption resulted in an early extinguishment charge of approximately $49.8 million during the three months ended December 31, 2020.

(12)	Debt was repaid in full on January 15, 2021.

(13)	The 2.750% 2023 Notes were redeemed in full on February 4, 2021. The redemption will result in an early extinguishment charge of approximately $17.5 million during the three months ending March 31, 2021.

Global Revolving Credit Facilities

On October 24, 2018, we refinanced our global revolving credit facility and entered into a global senior credit agreement for a $2.35 billion senior unsecured revolving credit facility, which we refer to as the 2018 global revolving credit facility, that replaced the $2.0 billion revolving credit facility executed on January 15, 2016. In addition, we have the ability from time to time to increase the size of the global revolving credit facility and the unsecured term loans (discussed below), in any combination, by up to $1.25 billion, subject to the receipt of lender commitments and other conditions precedent. The 2018 global revolving credit facility matures on January 24, 2023, with two six-month extension options available. The interest rate for borrowings under the 2018 global revolving credit facility equals the applicable index plus a margin which is based on the credit ratings of our long-term debt and is currently 90 basis points. An annual facility fee on the total commitment amount of the facility, based on the credit ratings of our long-term debt, currently 20 basis points, is payable quarterly. The 2018 global revolving credit facility provides for borrowings in U.S., Canadian, Singapore, Australian and Hong Kong dollars, as well as Euro, British pound sterling and Japanese yen and

includes the ability to add additional currencies in the future. As of December 31, 2020, interest rates are based on 1-month EURIBOR, 1-month HIBOR, 1-month SOR and 1-month CDOR, plus a margin of 0.90%. We have used and intend to use available borrowings under the 2018 global revolving credit facility to acquire additional properties, fund development opportunities and for general working capital and other corporate purposes, including potentially for the repurchase, redemption or retirement of outstanding debt or equity securities.

The 2018 global revolving credit facility contains various restrictive covenants, including limitations on our ability to incur additional indebtedness, make certain investments or merge with another company, and requirements to maintain financial coverage ratios, including with respect to unencumbered assets. In addition, the 2018 global revolving credit facility restricts Digital Realty Trust, Inc. from making distributions to its stockholders, or redeeming or otherwise repurchasing shares of its capital stock, after the occurrence and during the continuance of an event of default, except in limited circumstances including as necessary to enable Digital Realty Trust, Inc. to maintain its qualification as a REIT and to minimize the payment of income or excise tax. As of December 31, 2020, we were in compliance with all of such covenants.

On October 24, 2018, we entered into a credit agreement for a ¥33.3 billion (approximately $296.5 million based on the exchange rate on October 24, 2018) senior unsecured revolving credit facility, which we refer to as the Yen revolving credit facility. The Yen revolving credit facility provides for borrowings in Japanese yen. In addition, we have the ability from time to time to increase the size of the Yen revolving credit facility to up to ¥93.3 billion (approximately $831.1 million based on the exchange rate on October 24, 2018), subject to receipt of lender commitments and other conditions precedent. The Yen revolving credit facility matures on January 24, 2024. The interest rate for borrowings under the Yen revolving credit facility equals the applicable index plus a margin which is based on the credit ratings of our long-term debt and is currently 50 basis points. A quarterly unused commitment fee, which is calculated using the average daily unused revolving credit commitment, is based on the credit ratings of our long-term debt, and is currently 10 basis points.

The Yen revolving credit facility contains various restrictive covenants, including limitations on our ability to incur additional indebtedness, make certain investments or merge with another company, and requirements to maintain financial coverage ratios, including with respect to unencumbered assets. In addition, the Yen revolving credit facility restricts Digital Realty Trust, Inc. from making distributions to its stockholders, or redeeming or otherwise repurchasing shares of its capital stock, after the occurrence and during the continuance of an event of default, except in limited circumstances including as necessary to enable Digital Realty Trust, Inc. to maintain its qualification as a REIT and to minimize the payment of income or excise tax. As of December 31, 2020, we were in compliance with all of such covenants.

Unsecured Term Loans

On October 24, 2018, we refinanced our senior unsecured multi-currency term loan facility and entered into an amended and restated term loan agreement, which we refer to as the 2018 term loan agreement, which governs (i) a $300.0 million 5-year senior unsecured term loan, which we refer to as the 2023 Term Loan, and (ii) an approximately $512 million 5-year senior unsecured term loan, which we refer to as the 2024 Term Loan. The 2018 term loan agreement replaced the $1.55 billion term loan agreement executed on January 15, 2016. The 2023 Term Loan matures on January 15, 2023 and the 2024 Term Loan matures on January 24, 2023 with two six-month extension options. In addition, we have the ability from time to time to increase the aggregate size of lending under the 2018 term loan agreement and the 2018 global revolving credit facility (discussed above), in any combination, by up to $1.25 billion, subject to receipt of lender commitments and other conditions precedent. Interest rates are based on our senior unsecured debt ratings and are currently 100 basis points over the applicable index for floating rate advances for the 2023 Term

Loan and the 2024 Term Loan. Funds may be drawn in U.S., Canadian, Singapore, Australian and Hong Kong dollars. On September 24, 2020, the 2023 Term Loan was repaid in full. Based on exchange rates in effect at December 31, 2020, the balance outstanding is approximately $537.5 million, excluding deferred financing costs. We have used borrowings under the term loans for acquisitions, repayment of indebtedness, development, working capital and general corporate purposes. The covenants under 2024 Term Loan are consistent with our 2018 global revolving credit facility and, as of December 31, 2020, we were in compliance with all of such covenants.

Unsecured Senior Notes

Amount

Issued (in

Unsecured Senior Notes and Annual

Maturity

millions, local

Net Proceeds

Interest Payment

Interest Rate

Date Issued

Date

currency)

(in millions) ⁽¹⁾

Dates

Initial Issuer ⁽²⁾

Floating Rate Notes due 2022

Sep 23, 2020

Sep 23, 2022

€

300.0

348.7

Quarterly, commencing December 23, 2020

Digital Dutch Finco B.V. ⁽³⁾

0.125% Notes due 2022

Jan 17, 2020

Oct 15, 2022

€

300.0

330.8

Annually, commencing October 15, 2020

Digital Dutch Finco B.V. ⁽³⁾

2.750% Notes due 2023

Aug 7, 2017

Feb 1, 2023

350.0

346.9

Semi-annually, commencing February 1, 2018

Digital Realty Trust, L.P.

2.625% Notes due 2024

Apr 15, 2016

Apr 15, 2024

€

600.0

670.3

Annually, commencing April 15, 2017

Digital Euro Finco, LLC ⁽³⁾

2.750% Notes due 2024

Jul 21, 2017

Jul 19, 2024

250.0

321.3

Annually, commencing July 19, 2018

Digital Stout Holding, LLC ⁽⁴⁾

4.250% Notes due 2025

Jan 18, 2013

Jan 17, 2025

400.0

624.2

Semi-annually, commencing July 17, 2013

Digital Stout Holding, LLC ⁽⁴⁾

0.625% Notes due 2025

Jan 17, 2020

Jul 15, 2025

€

650.0

712.0

Annually, commencing July 15, 2020

Digital Dutch Finco B.V. ⁽³⁾

4.750% Notes due 2025

Oct 1, 2015

Oct 1, 2025

450.0

445.8

Semi-annually, commencing April 1, 2016

Digital Delta Holdings, LLC ⁽⁵⁾

2.500% Notes due 2026

Jan 16, 2019

Jan 16, 2026

€

1,075.0

1,218.6

Annually, commencing January 16, 2020

Digital Euro Finco, LLC ⁽³⁾

3.700% Notes due 2027

Aug 7, 2017

Aug 15, 2027

1,000.0

991.0

Semi-annually, commencing February 15, 2018

Digital Realty Trust, L.P.

1.125% Notes due 2028

Oct 9, 2019

Apr 9, 2028

€

500.0

539.7

Annually, commencing April 9, 2020

Digital Euro Finco, LLC ⁽³⁾

4.450% Notes due 2028

Jun 21, 2018

Jul 15, 2028

650.0

643.3

Semi-annually, commencing January 15, 2019

Digital Realty Trust, L.P.

3.600% Notes due 2029

Jun 14, 2019

Jul 1, 2029

900.0

890.6

Semi-annually, commencing January 1, 2020

Digital Realty Trust, L.P.

3.300% Notes due 2029

Jul 21, 2017

Jul 19, 2029

350.0

448.6

Annually, commencing July 19, 2018

Digital Stout Holding, LLC ⁽⁴⁾

1.500% Notes due 2030

Jan 17, 2020

Mar 15, 2030

€

750.0

819.1

Annually, commencing March 15, 2021

Digital Dutch Finco B.V. ⁽³⁾

3.750% Notes due 2030

Oct 17, 2018 and Mar 9, 2019

Oct 17, 2030

550.0

716.8

Annually, commencing October 17, 2019

Digital Stout Holding, LLC ⁽⁴⁾

1.250% Notes due 2031

Jun 26, 2020

Feb 1, 2031

€

500.0

553.2

Annually, commencing February 1, 2021

Digital Dutch Finco B.V. ⁽³⁾

1.000% Notes due 2032

Sep 23, 2020

Jan 15, 2032

€

750.0

860.0

Annually, commencing January 15, 2021

Digital Dutch Finco B.V. ⁽³⁾

(1)	Amounts are in U.S. dollars, based on the exchange rate on the date of issuance. Net proceeds are equal to principal amount less initial purchaser discount and other debt issuance costs.

(2)	Digital Realty Trust, Inc. guarantees the senior notes issued by Digital Realty Trust, L.P. Both Digital Realty Trust, L.P. and Digital Realty Trust, Inc. guarantee the senior notes issued by Digital Stout Holding, LLC, Digital Euro Finco, LLC and Digital Dutch Finco, B.V.

(3)	An indirect wholly owned finance subsidiary of Digital Realty Trust, L.P.

(4)	A wholly owned subsidiary of Digital Realty Trust, L.P.

(5)

The indentures governing each of the senior notes contain certain covenants, including (1) a leverage ratio not to exceed 60%, (2) a secured debt leverage ratio not to exceed 40% and (3) an interest coverage ratio of greater than 1.50, and also requires us to maintain total unencumbered assets of not less than 150% of the aggregate principal amount of unsecured debt. At December 31, 2020, we were in compliance with each of these financial covenants.

The table below summarizes our debt maturities and principal payments as of December 31, 2020 (in thousands):


	Global Revolving		Unsecured
	Credit Facilities⁽¹⁾		Term Loans⁽¹⁾		Senior Notes		Secured Debt		Total Debt
2021	$	—	$	—	$	—	$	—	$	—
2022		—		—		732,960		330		733,290
2023		493,241		537,470		350,000		104,000		1,484,711
2024		46,943		—		1,074,710		—		1,121,653
2025		—		—		1,790,840		—		1,790,840
Thereafter		—		—		8,147,519		135,000		8,282,519
Subtotal	$	540,184	$	537,470	$	12,096,029	$	239,330	$	13,413,013
Unamortized discount		—		—		(40,915)		(4)		(40,919)
Unamortized premium		—		—		5,927		—		5,927
Total	$	540,184	$	537,470	$	12,061,041	$	239,326	$	13,378,021

(1)

The global revolving credit facility and the 2024 unsecured term loan are subject to two six-month extension options exercisable by us. The bank group is obligated to grant the extension options provided we give proper notice, we make certain representations and warranties and no default exists under the global revolving credit facility or the 2024 unsecured term loan, as applicable.

Income per Share

12 Months Ended

Dec. 31, 2020

Income per Share

Income per Share

10. Income per Share

The following is a summary of basic and diluted income per share (in thousands, except share and per share amounts):


	Year Ended December 31,
	2020		2019		2018
Net income available to common stockholders	$	263,342	$	493,011	$	249,930
Weighted average shares outstanding—basic		260,098,978		208,325,823		206,035,408
Potentially dilutive common shares:
Unvested incentive units		120,775		165,185		141,260
Unvested restricted stock		177,244		—		—
Forward equity offering		1,596,476		813,073		33,315
Market performance-based awards		529,035		158,166		463,488
Weighted average shares outstanding—diluted		262,522,508		209,462,247		206,673,471
Income per share:
Basic	$	1.01	$	2.37	$	1.21
Diluted	$	1.00	$	2.35	$	1.21

We have excluded the following potentially dilutive securities in the calculations above as they would be antidilutive or not dilutive:


	Year Ended December 31,
	2020	2019	2018
Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc.	7,974,005	8,958,932	8,227,463
Potentially dilutive Series C Cumulative Redeemable Perpetual Preferred Stock	1,489,983	1,695,765	1,876,584
Potentially dilutive Series G Cumulative Redeemable Preferred Stock	1,452,809	2,102,655	2,326,861
Potentially dilutive Series H Cumulative Redeemable Preferred Stock	—	789,846	3,409,772
Potentially dilutive Series I Cumulative Redeemable Preferred Stock	1,269,035	2,105,116	2,329,584
Potentially dilutive Series J Cumulative Redeemable Preferred Stock	1,475,721	1,679,534	1,858,622
Potentially dilutive Series K Cumulative Redeemable Preferred Stock	1,551,801	1,334,691	—
Potentially dilutive Series L Cumulative Redeemable Preferred Stock	2,543,639	670,823	—
Total	17,756,993	19,337,362	20,028,886

Income per Unit

12 Months Ended

Dec. 31, 2020

Income per Unit

11. Income per Unit

The following is a summary of basic and diluted income per unit (in thousands, except unit and per unit amounts):


	Year Ended December 31,
	2020		2019		2018
Net income available to common unitholders	$	272,842	$	514,111	$	260,110
Weighted average units outstanding—basic		268,072,983		217,284,755		214,312,871
Potentially dilutive common units:
Unvested incentive units		120,775		165,185		141,260
Unvested restricted units		177,244		—		—
Forward equity offering		1,596,476		813,073		33,315
Market performance-based awards		529,035		158,166		463,488
Weighted average units outstanding—diluted		270,496,513		218,421,179		214,950,934
Income per unit:
Basic	$	1.02	$	2.37	$	1.21
Diluted	$	1.01	$	2.35	$	1.21

We have excluded the following potentially dilutive securities in the calculations above as they would be antidilutive or not dilutive:


	Year Ended December 31,
	2020	2019	2018
Potentially dilutive Series C Cumulative Redeemable Perpetual Preferred Units	1,489,983	1,695,765	1,876,584
Potentially dilutive Series G Cumulative Redeemable Preferred Units	1,452,809	2,102,655	2,326,861
Potentially dilutive Series H Cumulative Redeemable Preferred Units	—	789,846	3,409,772
Potentially dilutive Series I Cumulative Redeemable Preferred Units	1,269,035	2,105,116	2,329,584
Potentially dilutive Series J Cumulative Redeemable Preferred Units	1,475,721	1,679,534	1,858,622
Potentially dilutive Series K Cumulative Redeemable Preferred Units	1,551,801	1,334,691	—
Potentially dilutive Series L Cumulative Redeemable Preferred Units	2,543,639	670,823	—
Total	9,782,988	10,378,430	11,801,423

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Taxes

Income Taxes

12. Income Taxes

Digital Realty Trust, Inc. has elected to be treated and believes that it has been organized and has operated in a manner that has enabled it to qualify as a REIT for federal income tax purposes. As a REIT, Digital Realty Trust, Inc. is generally not subject to corporate level federal income taxes on taxable income distributed currently to its stockholders. Since inception, Digital Realty Trust, Inc. has distributed at least 100% of its taxable income annually. As such, no provision for federal income taxes has been included in the Company’s accompanying consolidated financial statements for the years ended December 31, 2020, 2019 and 2018.

The Operating Partnership is a partnership and is not required to pay federal income tax. Instead, taxable income is allocated to its partners, who include such amounts on their federal income tax returns. As such, no provision for federal income taxes has been included in the Operating Partnership’s accompanying consolidated financial statements.

We have elected taxable REIT subsidiary (“TRS”) status for some of our consolidated subsidiaries. In general, a TRS may provide services that would otherwise be considered impermissible for REITs to provide and may hold assets that REITs cannot hold directly. Income taxes for TRS entities were accrued, as necessary, for the years ended December 31, 2020, 2019 and 2018.

For our TRS entities and foreign subsidiaries that are subject to U.S. federal, state, local and foreign income taxes, deferred tax assets and liabilities are established for temporary differences between the financial reporting basis and the tax basis of assets and liabilities at the enacted tax rates expected to be in effect when the temporary differences reverse. A valuation allowance for deferred tax assets is provided if we believe it is more likely than not that the deferred tax asset may not be realized, based on available evidence at the time the determination is made. An increase or decrease in the valuation allowance that results from the change in circumstances that causes a change in our judgment about the realizability of the related deferred tax asset is included in the income statement. Deferred tax assets (net of valuation allowance) and liabilities for our TRS entities and foreign subsidiaries were accrued, as necessary, for the years ended December 31, 2020, 2019 and 2018. As of December 31, 2020 and 2019, we had deferred tax liabilities net of deferred tax assets of approximately $737.3 million and $143.4 million, respectively, primarily related to our foreign properties, classified in accounts payable and other accrued expenses in the consolidated balance sheet. The majority of our net deferred tax liability relates to differences between foreign tax basis and book basis of the assets acquired in the Interxion Combination in March 2020, the European Portfolio Acquisition in July 2016 and the Sentrum portfolio acquisition during 2012. The valuation allowance against the deferred tax assets at December 31, 2020 and 2019 relate primarily to net operating loss carryforwards that we do not expect to utilize attributable to certain foreign jurisdictions.

Deferred income tax assets and liabilities as of December 31, 2020 and 2019 were as follows (in thousands):


	2020		2019
Gross deferred tax assets:
Net operating loss carryforwards	$	164,294	$	63,280
Basis difference - real estate property		748,411		9,955
Basis difference - intangibles		2,368		1,071
Straight-line rent		1,121		1,404
Other - temporary differences		60,840		17,624
Total gross deferred tax assets		977,034		93,334
Valuation allowance		(108,060)		(40,795)
Total deferred tax assets, net of valuation allowance		868,974		52,539
Gross deferred tax liabilities:
Basis difference - real estate property		1,338,612		162,095
Basis difference - equity investments		4,000		4,000
Basis difference - intangibles		246,950		1,547
Straight-line rent		6,884		8,044
Other - temporary differences		9,805		20,218
Total gross deferred tax liabilities		1,606,251		195,904
Net deferred tax liabilities	$	737,277	$	143,365

Equity and Accumulated Other Comprehensive Income (Loss), Net

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Equity and Accumulated Other Comprehensive Income (Loss), Net

12 Months Ended

Dec. 31, 2020

Equity and Accumulated Other Comprehensive Income (Loss), Net

13. Equity and Accumulated Other Comprehensive Income (Loss), Net

(a) Equity Distribution Agreements

On May 11, 2020, Digital Realty Trust, Inc. and Digital Realty Trust, L.P. entered into an amendment, which we refer to as the 2020 Amendment, to our ATM equity offering sales agreement dated January 4, 2019, which, as amended, we refer to as the Sales Agreement, with BofA Securities, Inc., Barclays Capital Inc., BTIG, LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Jefferies LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., Raymond James & Associates, Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., SunTrust Robinson Humphrey, Inc., TD Securities (USA) LLC, and Wells Fargo Securities, LLC, or the Agents, to increase the number of shares of common stock Digital Realty Trust, Inc. could issue and sell from time to time through, at its discretion, any of the Agents as its sales agents or as principals. Sales may also be made on a forward basis pursuant to separate forward sale agreements. In accordance with the Sales Agreement, following the date of the 2020 Amendment, Digital Realty Trust, Inc. may offer and sell shares of its common stock having an aggregate offering price of up to $1.0 billion. Prior to the 2020 Amendment, Digital Realty Trust, Inc. had offered and sold shares of its common stock having an aggregate gross sales price of approximately $652.2 million. The sales of common stock made under the Sales Agreement will be made in “at the market” offerings as defined in Rule 415 of the Securities Act. For the year ended December 31, 2020, Digital Realty Trust, Inc. generated net proceeds of approximately $893.8 million from the issuance of approximately 6.1 million common shares under the Sales Agreement at an average price of $146.90 per share after payment of approximately $9.0 million of commissions to the Agents, and approximately $749.4 million remains available for future sales under the program. For the year ended December 31, 2019, there were no sales made under the program.

(b) Forward Equity Sale

On September 27, 2018, Digital Realty Trust, Inc. completed an underwritten public offering of 9,775,000 shares of its common stock (including 1,275,000 shares from the exercise in full of the underwriters’ option to purchase additional shares), all of which were offered in connection with forward sale agreements it entered into with certain financial institutions acting as forward purchasers. The forward purchasers borrowed and sold an aggregate of 9,775,000 shares of Digital Realty Trust, Inc.’s common stock in the public offering. Digital Realty Trust, Inc. did not receive any proceeds from the sale of its common stock by the forward purchasers in the public offering. On September 17, 2019, the Company amended the forward sale agreements to extend the maturity date of such forward sales agreements from September 27, 2019 to September 25, 2020. On September 24, 2020, we physically settled the forward sale agreements in full by issuing an aggregate of 9,775,000 shares of our common stock to the forward purchasers in exchange for net proceeds of approximately $1.0 billion.


				Total
				Liquidation		Annual		Shares Outstanding as of		Balance (in thousands, net of
	Date(s)	Initial Date to		Value (in		Dividend		December 31,		issuance costs) as of December 31,
Preferred Stock ⁽¹⁾	Issued	Redeem ⁽²⁾	Share Cap ⁽³⁾	thousands) ⁽⁴⁾		Rate ⁽⁵⁾		2020	2019	2020		2019
6.625% Series C Cumulative Redeemable Perpetual Preferred Stock	Sep 14, 2017	May 15, 2021	0.6389035	$	201,250	$	1.65625	8,050,000	8,050,000	$	219,250	$	219,250
5.875% Series G Cumulative Redeemable Preferred Stock	Apr 9, 2013	Apr 9, 2018	0.7532000		—		1.46875	—	10,000,000		—		241,468
6.350% Series I Cumulative Redeemable Preferred Stock	Aug 24, 2015	Aug 24, 2020	0.7623100		—		1.58750	—	10,000,000		—		242,012
5.250% Series J Cumulative Redeemable Preferred Stock	Aug 7, 2017	Aug 7, 2022	0.4252100		200,000		1.31250	8,000,000	8,000,000		193,540		193,540
5.850% Series K Cumulative Redeemable Preferred Stock	Mar 13, 2019	Mar 13, 2024	0.4361100		210,000		1.46250	8,400,000	8,400,000		203,264		203,264
5.200% Series L Cumulative Redeemable Preferred Stock	Oct 10, 2019	Oct 10, 2024	0.3851800		345,000		1.30000	13,800,000	13,800,000		334,886		334,886
				$	956,250			38,250,000	58,250,000	$	950,940	$	1,434,420

(1)

All series of preferred stock do not have a stated maturity date and are not subject to any sinking fund or mandatory redemption provisions. Upon liquidation, dissolution or winding up, each series of preferred stock will rank senior to Digital Realty Trust, Inc. common stock and on parity with the other series of preferred stock. Holders of each series of preferred stock generally have no voting rights except for limited voting rights if Digital Realty Trust, Inc. fails to pay dividends for six or more quarterly periods (whether or not consecutive) and in certain other circumstances.

(2)	Except in limited circumstances, reflects earliest date that Digital Realty Trust, Inc. may exercise its option to redeem the preferred stock, at a redemption price of $25.00 per share, plus accrued and unpaid dividends up to but excluding the date of redemption.

(3)

Upon the occurrence of specified changes of control, as a result of which neither Digital Realty Trust, Inc.’s common stock nor the common securities of the acquiring or surviving entity (or American Depositary Receipts representing such securities) is listed on the New York Stock Exchange, the NYSE MKT, LLC or the NASDAQ Stock Market or listed or quoted on a successor exchange or quotation system, each holder of preferred stock will have the right (unless, prior to the change of control conversion date specified in the applicable Articles Supplementary governing the preferred stock, Digital Realty Trust, Inc. has provided or provides notice of its election to redeem the preferred stock) to convert some or all of the preferred stock held by it into a number of shares of Digital Realty Trust, Inc.’s common stock per share of preferred stock to be converted equal to the lesser of (i) the quotient obtained by dividing (a) the sum of the $25.00 liquidation preference plus the amount of any accrued and unpaid dividends to, but not including, the change of control conversion date (unless the change of control conversion date is after a record date for a preferred stock dividend payment and prior to the corresponding dividend payment date, in which case no additional amount for such accrued and unpaid dividend will be included in this sum) by (b) the common stock price specified in the applicable Articles Supplementary governing the preferred stock; and (ii) the Share Cap, subject to certain adjustments; subject, in each case, to provisions for the

receipt of alternative consideration as described in the applicable Articles Supplementary governing the preferred stock. Except in connection with specified change of control transactions, the preferred stock is not convertible into or exchangeable for any other property or securities of Digital Realty Trust, Inc.

(4)	Liquidation preference is $25.00 per share.

(5)	Dividends on preferred shares are cumulative and payable quarterly in arrears.

(d) Noncontrolling Interests in Operating Partnership

Noncontrolling interests in the Operating Partnership relate to the interests that are not owned by Digital Realty Trust, Inc. The following table shows the ownership interest in the Operating Partnership as of December 31, 2020 and 2018:


	December 31, 2020			December 31, 2019
	Number of	Percentage of		Number of	Percentage of
	units	total		units	total
Digital Realty Trust, Inc.	280,289,726	97.2	%	208,900,758	95.9	%
Noncontrolling interests consist of:
Common units held by third parties	6,212,369	2.2	%	6,820,201	3.2	%
Incentive units held by employees and directors (see Note 15)	1,833,898	0.6	%	2,022,954	0.9	%
	288,335,993	100.0	%	217,743,913	100.0	%

Limited partners have the right to require the Operating Partnership to redeem part or all of their common units for cash based on the fair market value of an equivalent number of shares of Digital Realty Trust, Inc. common stock at the time of redemption. Alternatively, Digital Realty Trust, Inc. may elect to acquire those common units in exchange for shares of Digital Realty Trust, Inc. common stock on a one-for-one basis, subject to adjustment in the event of stock splits, stock dividends, issuance of stock rights, specified extraordinary distributions and similar events. Pursuant to authoritative accounting guidance, Digital Realty Trust, Inc. evaluated whether it controls the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the share settlement of the noncontrolling Operating Partnership common and incentive units. Based on the results of this analysis, we concluded that the common units and incentive units of the Operating Partnership met the criteria to be classified within equity, except for certain common units issued to certain former DFT Operating Partnership unitholders in the DFT Merger, which are subject to certain restrictions and, accordingly, are not presented as permanent equity in the consolidated balance sheet.

In connection with the initial public offering of DFT in 2007, DFT, the DFT Operating Partnership and certain DFT Operating Partnership unitholders entered into a tax protection agreement to assist such unitholders in deferring certain U.S. federal income tax liabilities that may have otherwise resulted from the contribution transactions undertaken in connection with the initial public offering and the ownership of interests in the DFT Operating Partnership and to set forth certain agreements with respect to other tax matters. In connection with the DFT Merger, certain DFT Operating Partnership unitholders entered into a new tax protection agreement with Digital Realty Trust, Inc. and the Operating Partnership that replaced and superseded the DFT tax protection agreement, effective as of the closing of the merger. Pursuant to the new tax protection agreement, such DFT Operating Partnership unitholders entered into a guarantee of certain debt of a subsidiary of the Operating Partnership. The Operating Partnership must offer such DFT Operating Partnership unitholders a new guarantee opportunity in the event any guaranteed debt is repaid prior to March 1, 2023. If the Operating Partnership fails to offer the guarantee opportunity or to allocate guaranteed debt to any such DFT Operating Partnership unitholder as required under the new tax protection agreement, the Operating Partnership

generally would be required to indemnify each such DFT Operating Partnership unitholder for the tax liability resulting from such failure, as determined under the new tax protection agreement.

The redemption value of the noncontrolling Operating Partnership common units and the vested incentive units was approximately $1,078.9 million and $997.6 million based on the closing market price of Digital Realty Trust, Inc. common stock on December 31, 2020 and 2019, respectively.

The following table shows activity for the noncontrolling interests in the Operating Partnership for the years ended December 31, 2020, 2019 and 2018:


	Common Units	Incentive Units	Total
As of December 31, 2017	6,899,094	1,590,001	8,489,095
Common units issued in connection with the Ascenty Acquisition	2,338,874	—	2,338,874
Redemption of common units for shares of Digital Realty Trust, Inc. common stock ⁽¹⁾	(601,822)	—	(601,822)
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock ⁽¹⁾	—	(110,070)	(110,070)
Incentive units issued upon achievement of market performance condition	—	357,956	357,956
Grant of incentive units to employees and directors	—	128,986	128,986
Cancellation / forfeitures of incentive units held by employees and directors	—	(22,135)	(22,135)
As of December 31, 2018	8,636,146	1,944,738	10,580,884
Redemption of common units for shares of Digital Realty Trust, Inc. common stock ⁽¹⁾	(1,815,945)	—	(1,815,945)
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock ⁽¹⁾	—	(338,515)	(338,515)
Incentive units issued upon achievement of market performance condition	—	319,279	319,279
Grant of incentive units to employees and directors	—	120,368	120,368
Cancellation / forfeitures of incentive units held by employees and directors	—	(22,916)	(22,916)
As of December 31, 2019	6,820,201	2,022,954	8,843,155
Redemption of common units for shares of Digital Realty Trust, Inc. common stock ⁽¹⁾	(607,832)	—	(607,832)
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock ⁽¹⁾	—	(461,912)	(461,912)
Incentive units issued upon achievement of market performance condition	—	147,570	147,570
Grant of incentive units to employees and directors	—	128,049	128,049
Cancellation / forfeitures of incentive units held by employees and directors	—	(2,763)	(2,763)
As of December 31, 2020	6,212,369	1,833,898	8,046,267

(1)	These redemptions and conversions were recorded as a reduction to noncontrolling interests in the Operating Partnership and an increase to common stock and additional paid in capital based on the book value per unit in the accompanying consolidated balance sheet of Digital Realty Trust, Inc.

(e) Dividends

We have declared and paid the following dividends on our common and preferred stock for the years ended December 31, 2020, 2019 and 2018 (in thousands):


		Series C		Series G			Series H			Series I			Series J		Series K			Series L
		Preferred		Preferred			Preferred			Preferred			Preferred		Preferred			Preferred			Common
Date dividend declared	Dividend payment date	Stock		Stock			Stock			Stock			Stock		Stock			Stock			Stock
March 1, 2018	March 30, 2018	$	3,333	$	3,672		$	6,730		$	3,969		$	2,625	$	—		$	—		$	208,015	⁽¹⁾
May 8, 2018	June 29, 2018		3,333		3,672			6,730			3,969			2,625		—			—			208,071	⁽¹⁾
August 14, 2018	September 28, 2018		3,333		3,672			6,730			3,969			2,625		—			—			208,166	⁽¹⁾
November 12, 2018	December 31, 2018 for Preferred Stock; January 15, 2019 for Common Stock		3,333		3,672			6,730			3,969			2,625		—			—			208,415	⁽¹⁾
		$	13,332	$	14,688		$	26,920		$	15,876		$	10,500	$	—		$	—		$	832,667
February 21, 2019	March 29, 2019	$	3,333	$	3,672		$	6,730		$	3,969		$	2,625	$	—		$	—		$	224,802	⁽⁴⁾
May 13, 2019	June 28, 2019		3,333		3,672			—	⁽²⁾		3,969			2,625		3,686	⁽³⁾		—			224,895	⁽⁴⁾
August 13, 2019	September 30, 2019		3,333		3,672			—			3,969			2,625		3,071			—			225,188	⁽⁴⁾
November 19, 2019	December 31, 2019 for Preferred Stock; January 15, 2020 for Common Stock		3,333		3,672			—			3,969			2,625		3,071			4,036	⁽⁵⁾		225,488	⁽⁴⁾
		$	13,332	$	14,688		$	6,730		$	15,876		$	10,500	$	9,828		$	4,036		$	900,373

February 26, 2020	March 31, 2020	$	3,333	$	3,672		$	—		$	3,969		$	2,625	$	3,071		$	4,485		$	295,630	⁽⁸⁾
May 12, 2020	June 30, 2020		3,333		3,672			—			3,969			2,625		3,071			4,485			301,005	⁽⁸⁾
August 11, 2020	September 30, 2020		3,333		3,672			—			—	⁽⁷⁾		2,625		3,071			4,485			303,006	⁽⁸⁾
November 10, 2020	December 31, 2020 for Preferred Stock; January 15, 2021 for Common Stock		3,333		—	⁽⁶⁾		—			—			2,625		3,071			4,485			314,280	⁽⁸⁾
		$	13,332	$	11,016		$	—		$	7,938		$	10,500	$	12,284		$	17,940		$	1,213,921
Annual rate of dividend per share		$	1.65625	$	1.46875		$	1.84375		$	1.58750		$	1.31250	$	1.46250		$	1.30000

(1)	$4.040 annual rate of dividend per share.

(2)

Redeemed on April 1, 2019 for $25.00 per share, or a redemption price of $25.00 per share, plus accrued and unpaid dividends up to but not including the redemption date. In connection with the redemption, the previously incurred offering costs of approximately $11.8 million were recorded as a reduction to net income available to common stockholders.

(3)	Represents a pro rata dividend from and including the original issue date to and including June 30, 2019.

(4)	$4.320 annual rate of dividend per share.

(5)	Represents a pro rata dividend from and including the original issue date to and including December 31, 2019.

(6)

Redeemed on October 15, 2020 for $25.057118 per share, or a redemption price of $25.00 per share, plus accrued and unpaid dividends up to but not including the redemption date. In connection with the redemption, the previously incurred offering costs of approximately $8.2 million were recorded as a reduction to net income available to common stockholders.

(7)

Redeemed on September 8, 2020 for $25.29545 per share, or a redemption price of $25.00 per share, plus accrued and unpaid dividends up to but not including the redemption date. In connection with the redemption, the previously incurred offering costs of approximately $8.0 million were recorded as a reduction to net income available to common stockholders.

(8)	$4.480 annual rate of dividend per share.

Distributions out of Digital Realty Trust, Inc.’s current or accumulated earnings and profits are generally classified as dividends whereas distributions in excess of its current and accumulated earnings and profits, to the extent of a stockholder’s U.S. federal income tax basis in Digital Realty Trust, Inc.’s stock, are generally classified as a return of capital. Distributions in excess of a stockholder’s U.S. federal income tax basis in Digital Realty Trust, Inc.’s stock are generally characterized as capital gain. Cash provided by operating activities has generally been sufficient to fund all distributions, however, in the future we may also need to utilize borrowings under the global revolving credit facility to fund all or a portion of distributions.

(f) Accumulated Other Comprehensive Income (Loss), Net

The accumulated balances for each item within other comprehensive income (loss), net are as follows (in thousands):


	Foreign currency		Cash flow		Foreign currency net		Accumulated other
	translation		hedge		investment hedge		comprehensive
	adjustments		adjustments		adjustments		income (loss), net
Balance as of December 31, 2018	$	(158,649)	$	17,264	$	25,738	$	(115,647)
Net current period change		22,015		(8,839)		—		13,176
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		21,687		—		—		21,687
Reclassification to interest expense from interest rate swaps		—		(7,138)		—		(7,138)
Balance as of December 31, 2019	$	(114,947)	$	1,287	$	25,738	$	(87,922)
Net current period change		213,707		(11,980)		13,142		214,869
Reclassification to interest expense from interest rate swaps		—		8,063		—		8,063
Balance as of December 31, 2020	$	98,760	$	(2,630)	$	38,880	$	135,010

Capital and Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2020

Capital and Accumulated Other Comprehensive Income (Loss)

14. Capital and Accumulated Other Comprehensive Income (Loss)

(a) Allocations of Net Income and Net Losses to Partners

Except for special allocations to holders of profits interest units described below in Note 15(a) under the heading “Incentive Plan-Long-Term Incentive Units,” the Operating Partnership’s net income will generally be allocated to Digital Realty Trust, Inc. (the General Partner) to the extent of the accrued preferred return on its preferred units, and then to the General Partner and the Operating Partnership’s limited partners in accordance with the respective percentage interests in the common units issued by the Operating Partnership. Net loss will generally be allocated to the General Partner and the Operating Partnership’s limited partners in accordance with the respective common percentage interests in the Operating Partnership until the limited partner’s capital is reduced to zero and any remaining net loss would be allocated to the General Partner. However, in some cases, losses may be disproportionately allocated to partners who have guaranteed our debt. The allocations described above are subject to special allocations relating to depreciation deductions and to compliance with the provisions of Sections 704(b) and 704(c) of the Code, and the associated Treasury Regulations.

(b) Equity Distribution Agreement

On May 11, 2020, Digital Realty Trust, Inc. and Digital Realty Trust, L.P. entered into the 2020 Amendment to increase the number of shares of common stock Digital Realty Trust, Inc. could issue and sell from time to time through,

at its discretion, any of the Agents as its sales agents or as principals. Sales may also be made on a forward basis pursuant to separate forward sale agreements. In accordance with the Sales Agreement, following the date of the 2020 Amendment, Digital Realty Trust, Inc. may offer and sell shares of its common stock having an aggregate offering price of up to $1.0 billion. Prior to the 2020 Amendment, Digital Realty Trust, Inc. had offered and sold shares of its common stock having an aggregate gross sales price of approximately $652.2 million. The sales of common stock made under the Sales Agreement will be made in “at the market” offerings as defined in Rule 415 of the Securities Act. For the year ended December 31, 2020, Digital Realty Trust, Inc. generated net proceeds of approximately $893.8 million from the issuance of approximately 6.1 million common shares under the Sales Agreement at an average price of $146.90 per share after payment of approximately $9.0 million of commissions to the Agents and approximately $749.4 million remains available for future sales under the program. The proceeds from the issuances for the year ended December 31, 2020 were contributed to our Operating Partnership in exchange for the issuance of approximately 6.1 million common units to Digital Realty Trust, Inc.

On September 27, 2018, Digital Realty Trust, Inc. completed an underwritten public offering of 9,775,000 shares of its common stock (including 1,275,000 shares from the exercise in full of the underwriters’ option to purchase additional shares), all of which were offered in connection with forward sale agreements it entered into with certain financial institutions acting as forward purchasers. The forward purchasers borrowed and sold an aggregate of 9,775,000 shares of Digital Realty Trust, Inc.’s common stock in the public offering. Digital Realty Trust, Inc. did not receive any proceeds from the sale of our common stock by the forward purchasers in the public offering. On September 17, 2019, Digital Realty Trust, Inc. amended the forward sale agreements to extend the maturity date of such forward sales agreements from September 27, 2019 to September 25, 2020. On September 24, 2020, Digital Realty Trust, Inc. physically settled the forward sale agreements in full by issuing an aggregate of 9,775,000 shares of its common stock to the forward purchasers in exchange for net proceeds of approximately $1.0 billion. Upon physical settlement of the forward sale agreements, the Operating Partnership issued 9,775,000 partnership units to Digital Realty Trust, Inc. in exchange for contribution of the net proceeds.

(d) Redeemable Preferred Units


			Total
			Liquidation		Annual		Units Outstanding as		Balance (in thousands, net of
	Date(s)	Initial Date to	Value (in		Distribution		of December 31,		issuance costs) as of December 31,
Preferred Units ⁽¹⁾	Issued	Redeem ⁽²⁾	thousands) ⁽³⁾		Rate⁽⁴⁾		2020	2019	2020		2019
6.625% Series C Cumulative Redeemable Perpetual Preferred Units	Sep 14, 2017	May 15, 2021	$	201,250	$	1.65625	8,050,000	8,050,000	$	219,250	$	219,250
5.875% Series G Cumulative Redeemable Preferred Units	Apr 9, 2013	Apr 9, 2018		—		1.46875	—	10,000,000		—		241,468
6.350% Series I Cumulative Redeemable Preferred Units	Aug 24, 2015	Aug 24, 2020		—		1.58750	—	10,000,000		—		242,012
5.250% Series J Cumulative Redeemable Preferred Units	Aug 7, 2017	Aug 7, 2022		200,000		1.31250	8,000,000	8,000,000		193,540		193,540
5.850% Series K Cumulative Redeemable Preferred Units	Mar 13, 2019	Mar 13, 2024		210,000		1.46250	8,400,000	8,400,000		203,264		203,264
5.200% Series L Cumulative Redeemable Preferred Units	Oct 10, 2019	Oct 10, 2024		345,000		1.30000	13,800,000	13,800,000		334,886		334,886
			$	956,250			38,250,000	58,250,000	$	950,940	$	1,434,420

(1)

All series of preferred units do not have a stated maturity date and are not subject to any sinking fund or mandatory redemption provisions. Upon liquidation, dissolution or winding up, each series of preferred units will rank senior to common units and on parity with the other series of preferred units.

(2)

Except in limited circumstances, reflects earliest date that Digital Realty Trust, Inc. may exercise its option to redeem the corresponding series of preferred stock, at a redemption price of $25.00 per share, plus accrued and unpaid dividends up to but excluding the date of redemption. The Operating Partnership is required to redeem the corresponding series of preferred units in the event that the General Partner redeems a series of preferred stock.

(3)	Liquidation preference is $25.00 per unit.

(4)	Distributions on preferred units are cumulative and payable quarterly in arrears.

(e) Partnership Units

Limited partners have the right to require the Operating Partnership to redeem part or all of their common units for cash based on the fair market value of an equivalent number of shares of the General Partner’s common stock at the time of redemption. Alternatively, the General Partner may elect to acquire those common units in exchange for shares of the General Partner’s common stock on a one-for-one basis, subject to adjustment in the event of stock splits, stock dividends, issuance of stock rights, specified extraordinary distributions and similar events. Pursuant to authoritative accounting guidance, the Operating Partnership evaluated whether it controls the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the share settlement of the limited partners’ common units and the vested incentive units. Based on the results of this analysis, the Operating Partnership concluded

that the common units and incentive units of the Operating Partnership met the criteria to be classified within capital, except for certain common units issued to certain former DFT Operating Partnership unitholders in the DFT Merger which are subject to certain restrictions and are not presented as permanent capital in the consolidated balance sheet.

The redemption value of the limited partners’ common units and the vested incentive units was approximately $1,078.9 million and $997.6 million based on the closing market price of Digital Realty Trust, Inc.’s common stock on December 31, 2020 and 2019, respectively.

(f) Distributions

All distributions on our units are at the discretion of Digital Realty Trust, Inc.’s Board of Directors. We have declared and paid the following distributions on our common and preferred units for the years ended December 31, 2020, 2019 and 2018 (in thousands):


		Series C		Series G			Series H			Series I			Series J		Series K			Series L
		Preferred		Preferred			Preferred			Preferred			Preferred		Preferred			Preferred			Common
Date distribution declared	Distribution payment date	Units		Units			Units			Units			Units		Units			Units			Units
Mar 1, 2018	March 30, 2018	$	3,333	$	3,672		$	6,730		$	3,969		$	2,625	$	—		$	—		$	216,953	⁽¹⁾
May 8, 2018	June 29, 2018		3,333		3,672			6,730			3,969			2,625		—			—			216,789	⁽¹⁾
Aug 14, 2018	September 28, 2018		3,333		3,672			6,730			3,969			2,625		—			—			216,825	⁽¹⁾
Nov 12, 2018	December 31, 2018 for Preferred Units; January 15, 2019 for Common Units		3,333		3,672			6,730			3,969			2,625		—			—			216,838	⁽¹⁾
		$	13,332	$	14,688		$	26,920		$	15,876		$	10,500	$	—		$	—		$	867,405
February 21, 2019	March 29, 2019	$	3,333	$	3,672		$	6,730		$	3,969		$	2,625	$	—		$	—		$	235,256	⁽⁴⁾
May 13, 2019	June 28, 2019		3,333		3,672			—	⁽²⁾		3,969			2,625		3,686	⁽³⁾		—			235,142	⁽⁴⁾
August 13, 2019	September 30, 2019		3,333		3,672			—			3,969			2,625		3,071			—			235,164	⁽⁴⁾
November 19, 2019	December 31, 2019 for Preferred Units; January 15, 2020 for Common Units		3,333		3,672			—			3,969			2,625		3,071			4,036	⁽⁵⁾		235,154	⁽⁴⁾
		$	13,332	$	14,688		$	6,730		$	15,876		$	10,500	$	9,828		$	4,036		$	940,716

February 26, 2020	March 31, 2020	$	3,333	$	3,672		$	—		$	3,969		$	2,625	$	3,071		$	4,485		$	305,267	⁽⁸⁾
May 12, 2020	June 30, 2020		3,333		3,672			—			3,969			2,625		3,071			4,485			310,421	⁽⁸⁾
August 11, 2020	September 30, 2020		3,333		3,672			—			—	⁽⁷⁾		2,625		3,071			4,485			312,262	⁽⁸⁾
November 10, 2020	December 31, 2020 for Preferred Units; January 15, 2021 for Common Units		3,333		—	⁽⁶⁾		—			—			2,625		3,071			4,485			323,453	⁽⁸⁾
		$	13,332	$	11,016		$	—		$	7,938		$	10,500	$	12,284		$	17,940		$	1,251,403

Annual rate of distribution per unit		$	1.65625	$	1.46875		$	1.84375		$	1.58750		$	1.31250	$	1.46250		$	1.30000

(1)	$4.040 annual rate of distribution per unit.

(2)

Redeemed on April 1, 2019 for $25.00 per unit, or a redemption price of $25.00 per unit, plus accrued and unpaid distributions up to but not including the redemption date. In connection with the redemption, the previously incurred offering costs of approximately $11.8 million were recorded as a reduction to net income available to common unitholders.

(3)	Represents a pro rata distribution from and including the original issue date to and including June 30, 2019.

(4)	$4.320 annual rate of distribution per unit.

(5)	Represents a pro rata distribution from and including the original issue date to and including December 31, 2019.

(6)	Redeemed on October 15, 2020 for $25.057118 per unit, or a redemption price of $25.00 per unit, plus accrued and unpaid distributions up to but not including the redemption date. In connection with the redemption, the previously

incurred offering costs of approximately $8.2 million were recorded as a reduction to net income available to common unitholders.

(7)

Redeemed on September 8, 2020 for $25.29545 per unit, or a redemption price of $25.00 per unit, plus accrued and unpaid distributions up to but not including the redemption date. In connection with the redemption, the previously incurred offering costs of approximately $8.0 million were recorded as a reduction to net income available to common unitholders

(8)	$4.480 annual rate of distribution per unit.

(g) Accumulated Other Comprehensive Income (Loss)

The accumulated balances for each item within other comprehensive income (loss) are as follows (in thousands):



	Foreign currency				Foreign currency net		Accumulated other
	translation		Cash flow hedge		investment hedge		comprehensive
	adjustments		adjustments		adjustments		income (loss)
Balance as of December 31, 2018	$	(163,531)	$	16,986	$	26,152	$	(120,393)
Net current period change		23,975		(9,232)		—		14,743
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		21,687		—		—		21,687
Reclassification to interest expense from interest rate swaps		—		(7,446)		—		(7,446)
Balance as of December 31, 2019	$	(117,869)	$	308	$	26,152	$	(91,409)
Net current period change		216,815		(12,425)		13,525		217,915
Reclassification to interest expense from interest rate swaps		—		8,294		—		8,294
Balance as of December 31, 2020	$	98,946	$	(3,823)	$	39,677	$	134,800

Incentive Plan

12 Months Ended

Dec. 31, 2020

Incentive Plan

Incentive Plan

15. Incentive Plan

On April 28, 2014, our stockholders approved the Digital Realty Trust, Inc., Digital Services, Inc., and Digital Realty Trust, L.P. 2014 Incentive Award Plan (as amended, the 2014 Incentive Award Plan). The 2014 Incentive Award Plan became effective and replaced the Amended and Restated 2004 Incentive Award Plan, as amended, as of the date of such stockholder approval. The material features of the 2014 Incentive Award Plan are described in our definitive Proxy Statement filed on March 19, 2014 in connection with the 2014 Annual Meeting of Stockholders, which description is incorporated herein by reference. Effective as of September 14, 2017, the 2014 Incentive Award Plan was amended to provide that shares which remained available for issuance under DFT’s Amended and Restated 2011 Equity Incentive Plan immediately prior to the closing of the DFT Merger (as adjusted and converted into shares of Digital Realty Trust, Inc.’s common stock) may be used for awards under the 2014 Incentive Award Plan and will not reduce the shares authorized for grant under the 2014 Incentive Award Plan, to the extent that using such shares is permitted without stockholder approval under applicable stock exchange rules. In connection with the amendment to the 2014 Incentive Award Plan, on September 22, 2017, Digital Realty Trust, Inc. registered an additional 3.7 million shares that may be issued pursuant to the 2014 Incentive Award Plan.

On March 9, 2020, in connection with the Interxion Combination, certain outstanding awards granted under the InterXion Holding N.V. 2013 Amended International Equity Based Incentive Plan and the InterXion Holding N.V. 2017 Executive Director Long Term Incentive Plan (together, the “InterXion Equity Plans”) were assumed by Digital Realty Trust, Inc. and converted into adjusted equity-based awards of Digital Realty Trust, Inc. common stock in accordance with the terms of the Purchase Agreement for the Interxion Combination. All such awards will continue to be governed by the terms of the applicable Interxion Equity Plan and underlying award agreement evidencing such award. On March 9, 2020, Digital Realty Trust, Inc. registered the 0.6 million shares of Digital Realty Trust, Inc. common stock issuable pursuant to such awards.

As of December 31, 2020, approximately 6.0 million shares of common stock, including awards convertible into or exchangeable for shares of common stock, remained available for future issuance under the 2014 Incentive Award Plan. Each long-term incentive unit and each Class D unit issued under the 2014 Incentive Award Plan counts as one share of common stock for purposes of calculating the limit on shares that may be issued under the 2014 Incentive Award Plan and the individual award limits set forth therein.

Below is a summary of our compensation expense for the years ended December 31, 2020, 2019 and 2018 and our unearned compensation as of December 31, 2020 and December 31, 2019 (in millions):


																	Expected
																	period to
	Deferred Compensation												Unearned Compensation				recognize
	Expensed						Capitalized						As of		As of		unearned
	Year Ended December 31,						Year Ended December 31,						December 31,		December 31,		compensation
Type of incentive award	2020		2019		2018		2020		2019		2018		2020		2019		(in years)
Long-term incentive units	$	12.8	$	8.7	$	6.8	$	0.2	$	0.2	$	0.2	$	15.1	$	15.4	2.1
Performance-based awards ⁽¹⁾		24.8		13.0		12.7		0.6		0.8		0.8		34.4		28.4	2.4
Restricted stock		15.1		11.5		6.1		3.2		2.8		4.2		41.5		29.1	2.3
Interxion awards		19.7		—		—		—		—		—		27.2		—	2.2

(1)

In addition to the market performance-based awards and long-term incentive awards described in Notes 15(a) and 15(b), this also includes one-time grants of 58,561 performance-based Class D units and 6,148 performance-based restricted stock units, subject to attainment of performance metrics related to successful integration of the Interxion Combination, and one-time grants of 22,426 time-based profits interest units and 3,209 time-based restricted stock units subject to the closing of the Interxion Combination and continued service to certain of the Company’s executive officers and other employees. The grant date fair values, which equal the market price of Digital Realty Trust, Inc. common stock on the applicable grant date(s), are being expensed between two and three years, the current vesting period of these awards.

The following table sets forth the weighted-average fair value of for each type of incentive award at the date of grant for the years ended December 31, 2020, 2019 and 2018:


	Weighted-Average Fair Value at Date of Grant
Type of incentive award	2020		2019		2018
Long-term incentive units	$	134.55	$	116.22	$	101.86
Performance-based awards		159.34		114.97		119.29
Restricted stock		138.82		115.25		100.33
Interxion awards		120.67		—		—

(a) Long-Term Incentive Units

Long-term incentive units, which are also referred to as profits interest units, may be issued to eligible participants for the performance of services to or for the benefit of the Operating Partnership. Long-term incentive units (other than Class D units), whether vested or not, will receive the same quarterly per unit distributions as Operating Partnership common units, which equal the per share distributions on Digital Realty Trust, Inc. common stock. Initially, long-term incentive units do not have full parity with common units with respect to liquidating distributions. If such parity is reached, vested long-term incentive units may be converted into an equal number of common units of the Operating Partnership at any time, and thereafter enjoy all the rights and privileges of common units of the Operating Partnership, including redemption rights.

In order to achieve full parity with common units, long-term incentive units must be fully vested and the holder’s capital account balance in respect of such long-term incentive units must be equal to the capital account balance of a holder of an equivalent number of common units. The capital account balance attributable to each common unit is generally expected to be the same, in part because of the amount credited to a partner’s capital account upon the partner’s contribution of property to the Operating Partnership, and in part because the partnership agreement provides, in most cases, that allocations of income, gain, loss and deduction (which will adjust the partner’s capital accounts) are to be made to the common units on a proportionate basis. As a result, with respect to a number of long-term incentive units, it is possible to determine the capital account balance of an equivalent number of common units by multiplying the number of long-term incentive units by the capital account balance with respect to a common unit.

A partner’s initial capital account balance is equal to the amount the partner paid (or contributed to the Operating Partnership) for the partner’s units and is subject to subsequent adjustments, including with respect to the partner’s share of income, gain or loss of the Operating Partnership. Because a holder of long-term incentive units generally will not pay for the long-term incentive units, the initial capital account balance attributable to such long-term incentive units will be zero. However, the Operating Partnership is required to allocate income, gain, loss and deduction to the partner’s capital accounts in accordance with the terms of the partnership agreement, subject to applicable Treasury Regulations. The partnership agreement provides that holders of long-term incentive units will receive special allocations of gain in the event of a sale or “hypothetical sale” of assets of the Operating Partnership prior to the allocation of gain to Digital Realty Trust, Inc. or other limited partners with respect to their common units. The amount of any such allocation will, to the extent of any such gain, be equal to the difference between the capital account balance of a holder of long-term incentive units attributable to such units and the capital account balance attributable to an equivalent number of common units. If and when such gain allocation is fully made, a holder of long-term incentive units will have achieved full parity with holders of common units. To the extent that, upon an actual sale or a “hypothetical sale” of the Operating Partnership’s assets as described above, there is not sufficient gain to allocate to a holder’s capital account with respect to long-term incentive units, or if such sale or “hypothetical sale” does not occur, such units will not achieve parity with common units.

The term “hypothetical sale” refers to circumstances that are not actual sales of the Operating Partnership’s assets but that require certain adjustments to the value of the Operating Partnership’s assets and the partners’ capital account balances. Specifically, the partnership agreement provides that, from time to time, in accordance with applicable Treasury Regulations, the Operating Partnership will adjust the value of its assets to equal their respective fair market values, and adjust the partners’ capital accounts, in accordance with the terms of the partnership agreement, as if the Operating Partnership sold its assets for an amount equal to their value. Such adjustments will generally be made upon the liquidation of the Operating Partnership, the acquisition of an additional interest in the Operating Partnership by a new or existing partner in exchange for more than a de minimis capital contribution, the distribution by the Operating Partnership to a partner of more than a de minimis amount of partnership property as consideration for an interest in the Operating Partnership, the grant of an interest in the Operating Partnership (other than a de minimis interest) as consideration for the performance of services to or for the benefit of the Operating Partnership (including the grant of a long-term incentive unit), and at such other times as may be desirable or required to comply with the Treasury Regulations.

Below is a summary of our long-term incentive unit activity for the year ended December 31, 2020.


		Weighted-Average		Weighted-Average			Aggregate
		Grant Date Fair		Remaining Contractual			Intrinsic Value ⁽¹⁾
Unvested Long-term Incentive Units	Units	Value		Life (Years)			(in thousands)
Unvested, beginning of period	208,287	$	110.00
Granted	128,049		134.55
Vested	(98,038)		98.22
Cancelled or expired	(2,763)		112.82
Unvested, end of period	235,535	$	122.22		2.09	$	32,859

(1)	The intrinsic value is calculated based on the market value of our common stock as of December 31, 2020.

The grant date fair values, which equal the market price of Digital Realty Trust, Inc. common stock on the applicable grant date(s), are being expensed on a straight-line basis for service awards between two and four years, the current vesting periods of the long-term incentive units.

The aggregate intrinsic value of long-term incentive units that vested in 2020, 2019 and 2018 was $11.6 million, $5.7 million and $4.2 million, respectively. As of December 31, 2020, we had approximately 0.9 million long-term incentive units that were outstanding and exercisable with an aggregate intrinsic value of approximately $122.0 million (based on the market price of our common stock as of December 31, 2020).

(b) Market Performance-Based Awards

During the years ended December 31, 2020, 2019 and 2018, the Compensation Committee of the Board of Directors of Digital Realty Trust, Inc. approved the grant of market performance-based Class D units of the Operating Partnership and market performance-based restricted stock units, or RSUs, covering shares of Digital Realty Trust, Inc.’s common stock (collectively, the “awards”), under the 2014 Incentive Award Plan to officers and employees of the Company.

The awards, which were determined to contain a market condition, utilize total shareholder return, or TSR, over a three-year measurement period as the market performance metric. Awards will vest based on the Company’s TSR relative to the MSCI US REIT Index, or RMS, over a three-year market performance period, or the Market Performance Period, commencing in January 2018, January 2019 or January 2020, as applicable (or, if earlier, ending on the date on which a change in control of the Company occurs), subject to the applicable employee’s continued service. Vesting with respect to the market condition is measured based on the difference between Digital Realty Trust, Inc.’s TSR percentage and the TSR percentage of the RMS, or the RMS Relative Market Performance. In the event that the RMS Relative Market Performance during the applicable Market Performance Period is achieved at the “threshold,” “target” or “high” level as set forth below, the awards will become vested as to the market condition with respect to the percentage of Class D units or RSUs, as applicable, set forth below:


			Market
	2018 / 2019	2020	Performance
	RMS Relative	RMS Relative	Vesting
Level	Market Performance	Market Performance	Percentage
Below Threshold Level	≤ -300 basis points	≤ -500 basis points	0	%
Threshold Level	-300 basis points	-500 basis points	25	%
Target Level	100 basis points	0 basis points	50	%
High Level	≥ 500 basis points	≥ 500 basis points	100	%

If the RMS Relative Market Performance falls between the levels specified above, the percentage of the award that will vest with respect to the market condition will be determined using straight-line linear interpolation between such levels.

In January 2021, following the completion of the applicable Market Performance Period, the Compensation Committee determined that the high level had been achieved for the 2018 awards and, accordingly, 240,377 Class D units (including 20,725 distribution equivalent units that immediately vested on December 31, 2020) and 63,498 RSUs performance vested, subject to service-based vesting. On February 27, 2021, 50% of the 2018 awards vested and the remaining 50% will vest on February 27, 2022, subject to continued employment through the applicable vesting date.

In January 2020, following the completion of the applicable Market Performance Period, the Compensation Committee determined that the RMS Relative Market Performance fell between the target and high level for the 2017 awards and, accordingly, 137,816 Class D units (including 10,971 distribution equivalent units that immediately vested on December 31, 2019) and 29,141 RSUs performance vested, subject to service-based vesting. On February 27, 2020, 50% of the 2017 awards vested and the remaining 50% vested on February 27, 2021.

In January 2019, following the completion of the applicable Market Performance Period, the Compensation Committee determined that the high level had been achieved for the 2016 awards and, accordingly, 339,317 Class D units (including 31,009 distribution equivalent units that immediately vested on December 31, 2018) and 56,778 RSUs performance vested, subject to service-based vesting. On February 27, 2019, 50% of the 2016 awards vested and the remaining 50% vested on February 27, 2020.

Following the completion of the applicable Market Performance Period, the 2018 awards that have satisfied the market condition, vested 50% on February 27, 2021 and will vest 50% on February 27, 2022, subject to continued employment through each applicable vesting date. Following the completion of the applicable Market Performance Period, the 2019 awards that satisfy the market condition, if any, will vest 50% on February 27, 2022 and 50% on February 27, 2023, subject to continued employment through each applicable vesting date. Following the completion of the applicable Market Performance Period, the 2020 awards that satisfy the market condition, if any, will vest 50% on February 27, 2023 and 50% on February 27, 2024, subject to continued employment through the applicable vesting date.

Service-based vesting will be accelerated, in full or on a pro rata basis, as applicable, in the event of a change in control, termination of employment by the Company without cause, or termination of employment by the award recipient for good reason, death, disability or retirement, in any case, prior to the completion of the applicable Market Performance Period. However, vesting with respect to the market condition will continue to be measured based on RMS Relative Market Performance during the applicable three-year Market Performance Period (or, in the case of a change in control, shortened Market Performance Period).

The fair values of the awards were measured using a Monte Carlo simulation to estimate the probability of the market vesting condition being satisfied. The Company’s achievement of the market vesting condition is contingent on its TSR over a three-year market performance period, relative to the TSR of the RMS. The Monte Carlo simulation is a probabilistic technique based on the underlying theory of the Black-Scholes formula, which was run for 100,000 trials to determine the fair value of the awards. For each trial, the payoff to an award is calculated at the settlement date and is then discounted to the grant date at a risk-free interest rate. The total expected value of the awards on the grant date was determined by multiplying the average value per award over all trials by the number of awards granted. Assumptions used in the valuations are summarized as follows:


	Expected Stock Price		Risk-Free Interest
Award Date	Volatility		rate
January 1, 2018	22	%	1.98	%
March 1, 2018	22	%	2.34	%
March 9, 2018	22	%	2.42	%
January 1, 2019	23	%	2.44	%
February 21, 2019	23	%	2.48	%
February 19, 2020	22	%	1.39	%
February 20, 2020	22	%	1.35	%

The expected stock price volatility assumption is calculated based on our historical volatility, which is calculated over a period of time commensurate with the expected term of the awards being valued. The expected dividend yield assumption used in the Monte Carlo simulation represents the percent of return to a stock that is available to the holder of an award. Because the holders of the awards receive dividend equivalents, an expected dividend yield assumption of 0.00% was used in the valuation. These valuations were performed in a risk-neutral framework, and no assumption was made with respect to an equity risk premium.

The grant date fair value of the Class D unit and RSU awards was approximately $17.2. million, $22.3 million and $21.8 million for the years ended December 31, 2020, 2019 and 2018, respectively. We will recognize compensation expense on a straight-line basis over the expected service period of approximately four years.

The aggregate intrinsic value of the Class D unit and RSU awards that vested in 2020, 2019 and 2018 was $24.3 million, $32.7 million and $29.3 million, respectively.

Below is a summary of our restricted stock activity for the year ended December 31, 2020.


		Weighted-Average		Weighted-Average			Aggregate
		Grant Date Fair		Remaining Contractual			Intrinsic Value ⁽²⁾
Unvested Restricted Stock	Shares	Value		Life (Years)			(in thousands)
Unvested, beginning of period	372,792	$	108.47
Granted ⁽¹⁾	831,606		126.43
Vested	(385,905)		116.19
Cancelled or expired	(35,274)		120.31
Unvested, end of period	783,219	$	123.04		2.28	$	108,797

(1)	Includes 567,810 shares issued pursuant to the converted and adjusted Interxion equity awards as part of the Interxion Combination.

(2)	The intrinsic value is calculated based on the market value of our common stock as of December 31, 2020.

The grant date fair values, which equal the market price of Digital Realty Trust, Inc. common stock on the grant date, are expensed on a straight-line basis for service awards over the vesting period of the restricted stock, which is generally four years.

The aggregate intrinsic value of restricted stock that vested in 2020, 2019 and 2018 was $53.4 million, $14.0 million and $10.0 million, respectively.

(d) Defined Contribution Plans

We have a 401(k) plan whereby our U.S. employees may contribute a portion of their compensation to their respective retirement accounts, in an amount not to exceed the maximum allowed under the Code. The 401(k) plan complies with Internal Revenue Service requirements as a 401(k) safe harbor plan whereby matching contributions made by us are 100% vested. The aggregate cost of our contributions to the 401(k) plan was approximately $5.5 million, $5.2 million, and $4.8 million for the years ended December 31, 2020, 2019 and 2018, respectively. Interxion has a defined contribution pension plan for most of its employees. Contributions are made in accordance with the defined contribution pension plan and are expensed as incurred.

Derivative Instruments

12 Months Ended

Dec. 31, 2020

Derivative Instruments

Derivative Instruments

16. Derivative Instruments

Currently, we use interest rate swaps to manage our interest rate risk. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity,

and uses observable market-based inputs, including interest rate curves. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves.

To comply with the provisions of fair value accounting guidance, we incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees.

Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties. However, as of December 31, 2020, we have assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and have determined that the credit valuation adjustments are not significant to the overall valuation of our derivatives. As a result, we have determined that our derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. We do not have any fair value measurements on a recurring basis using significant unobservable inputs (Level 3) as of December 31, 2020 or December 31, 2019.

The Company presents its interest rate derivatives in its consolidated balance sheets on a gross basis as interest rate swap assets (recorded in other assets) and interest rate swap liabilities (recorded in accounts payable and other accrued liabilities). As of December 31, 2020, there was no impact from netting arrangements as the Company did not have any derivatives in liability positions.

Cash Flow Hedges of Interest Rate Risk

Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements related to certain floating rate debt obligations. To accomplish this objective, we primarily use interest rate swaps as part of our interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount.

We record all our interest rate swaps on the consolidated balance sheets at fair value. In determining the fair value of our interest rate swaps, we consider the credit risk of our counterparties. These counterparties are generally larger financial institutions engaged in providing a variety of financial services. These institutions generally face similar risks regarding adverse changes in market and economic conditions, including, but not limited to, fluctuations in interest rates, exchange rates, equity and commodity prices and credit spreads. The recent and pervasive disruptions in the financial markets have heightened the risks to these institutions.

As of December 31, 2020 and December 31, 2019, we had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk (in thousands):


										Fair Value at Significant Other
Notional Amount										Observable Inputs (Level 2)
As of			As of							As of		As of
December 31,			December 31,			Type of	Strike	Effective	Expiration	December 31,		December 31,
2020			2019			Derivative	Rate	Date	Date	2020 ⁽³⁾		2019 ⁽³⁾
Currently-paying contracts
$	—		$	29,000	⁽¹⁾	Swap	1.016	Apr 6, 2016	Jan 6, 2021	$	—	$	175
	—			75,000	⁽¹⁾	Swap	1.164	Jan 15, 2016	Jan 15, 2021		—		345
	104,000	⁽¹⁾		300,000	⁽¹⁾	Swap	1.435	Jan 15, 2016	Jan 15, 2023		(2,773)		945
	77,352	⁽²⁾		75,825	⁽²⁾	Swap	0.779	Jan 15, 2016	Jan 15, 2021		(9)		931
$	181,352		$	479,825						$	(2,782)	$	2,396

(1)	Represents debt which bears interest based on one-month U.S. LIBOR.

(2)	Represents debt which bears interest based on one-month CDOR. Translation to U.S. dollars is based on exchange rates of $0.79 to 1.00 CAD as of December 31, 2020 and $0.77 to 1.00 CAD as of December 31, 2019.

(3)	Balance recorded in other assets in the consolidated balance sheets if positive and recorded in accounts payable and other accrued liabilities in the consolidated balance sheets if negative.

On September 24, 2020, in connection with the paydown of our 2023 Term Loan, we terminated interest rate swap agreements with notional amounts in the aggregate of $300.0 million. As a result of the termination, the accumulated fair value of the interest rate swaps was reclassified from accumulated other comprehensive income to interest expense on the accompanying consolidated income statements, which resulted in a realized loss of approximately $6.4 million.

Amounts reported in accumulated other comprehensive loss related to interest rate swaps will be reclassified to interest expense as interest payments are made on our debt. As of December 31, 2020, we estimate that an additional $1.5 million will be reclassified as an increase to interest expense during the year ending December 31, 2021, when the hedged forecasted transactions impact earnings.

Foreign Currency Net Investment Hedges

During the three months ended June 30, 2016, we entered into a series of forward contracts pursuant to which we agreed to sell an amount of foreign currency for an agreed upon amount of U.S. dollars. These forward contracts were executed to manage foreign currency exposures associated with certain transactions. As of June 30, 2016, the forward contracts did not meet the criteria for hedge accounting under GAAP and had a fair value of approximately $37.8 million. On July 1, 2016, the four forward contracts still in place met the criteria for net investment hedge accounting. During the year ended December 31, 2017, we terminated the four forward contracts with a notional amount of GBP 357.3 million. In connection with the settlement, we received approximately $64.0 million in proceeds and the related amount of approximately $26.2 million of accumulated other comprehensive income (AOCI) will remain in AOCI until the Company sells or liquidates its GBP-denominated investments, which has not occurred as of December 31, 2020.

Credit-risk-related Contingent Features

We have agreements with each of our derivative counterparties that contain a provision where we could be declared in default on our derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to our default on the indebtedness. As of December 31, 2020, we did not have any derivatives in a net asset position, and have not posted any collateral related to these agreements.

Fair Value of Instruments

12 Months Ended

Dec. 31, 2020

Fair Value of Instruments

Fair Value of Instruments

17. Fair Value of Instruments

We disclose fair value information about all financial instruments, whether or not recognized in the consolidated balance sheets, for which it is practicable to estimate fair value. Current accounting guidance requires the Company to disclose fair value information about all financial instruments, whether or not recognized in the balance sheets, for which it is practicable to estimate fair value.

The Company’s disclosures of estimated fair value of financial instruments at December 31, 2020 and December 31, 2019 were determined using available market information and appropriate valuation methods. Considerable judgment is necessary to interpret market data and develop estimated fair value. The use of different market assumptions or estimation methods may have a material effect on the estimated fair value amounts.

The carrying amounts for cash and cash equivalents, restricted cash, accounts and other receivables, accounts payable and other accrued liabilities, accrued dividends and distributions, security deposits and prepaid rents approximate fair value because of the short-term nature of these instruments. As described in Note 16. "Derivative Instruments", the interest rate swaps and foreign currency forward contracts are recorded at fair value.

We calculate the fair value of our mortgage loans, unsecured term loans and unsecured senior notes based on currently available market rates assuming the loans are outstanding through maturity and considering the collateral and other loan terms. In determining the current market rate for fixed rate debt, a market spread is added to the quoted yields on federal government treasury securities with similar maturity dates to our debt. The carrying value of our global revolving credit facilities approximates fair value, due to the variability of interest rates.

As of December 31, 2020 and December 31, 2019, the aggregate estimated fair value and carrying value of our global revolving credit facilities, unsecured term loans, unsecured senior notes and mortgage loans were as follows (in thousands):


	Categorization	As of December 31, 2020				As of December 31, 2019
	under the fair value	Estimated Fair				Estimated Fair
	hierarchy	Value		Carrying Value		Value		Carrying Value
Global revolving credit facilities ⁽¹⁾⁽⁴⁾	Level 2	$	540,184	$	540,184	$	245,766	$	245,766
Unsecured term loans ⁽²⁾⁽⁴⁾	Level 2		537,470		537,470		813,205		813,205
Unsecured senior notes ⁽³⁾⁽⁴⁾	Level 2		13,359,960		12,096,029		9,697,166		9,025,229
Secured debt ⁽³⁾⁽⁴⁾	Level 2		242,051		239,326		105,245		105,143
		$	14,679,665	$	13,413,009	$	10,861,382	$	10,189,343

(1)	The carrying value of our global revolving credit facilities approximates estimated fair value, due to the variability of interest rates and the stability of our credit ratings.

(2)	The carrying value of our unsecured term loans approximates estimated fair value, due to the variability of interest rates and the stability of our credit ratings.

(3)	Valuations for our unsecured senior notes and secured debt are determined based on the expected future payments discounted at risk-adjusted rates and quoted market prices.

(4)	The carrying value excludes unamortized premiums (discounts) and deferred financing costs (see Note 9).

Commitments and Contingencies

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies.

18. Commitments and Contingencies

(a) Construction Commitments

Our properties require periodic investments of capital for tenant-related capital expenditures and for general capital improvements and from time to time in the normal course of our business, we enter into various construction contracts with third parties that may obligate us to make payments. At December 31, 2020, we had open commitments, including amounts reimbursable of approximately $37.6 million, related to construction contracts of approximately $1.1 billion.

(b) Legal Proceedings

Although the Company is involved in legal proceedings arising in the ordinary course of business, as of December 31, 2020, the Company is not currently a party to any legal proceedings nor, to its knowledge, is any legal proceeding threatened against it that it believes would have a material adverse effect on its financial position, results of operations or liquidity.

Quarterly Financial Information (Digital Realty Trust, Inc.) (unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information (unaudited)

Quarterly Financial Information (Digital Realty Trust, Inc.) (unaudited)

19. Quarterly Financial Information (Digital Realty Trust, Inc.) (unaudited)

The tables below reflect selected quarterly information for the years ended December 31, 2020 and 2019. Certain amounts have been reclassified to conform to the current year presentation (in thousands, except per share amounts).


	Three Months Ended
	December 31,		September 30,
	2020		2020		June 30, 2020		March 31, 2020
Total operating revenues	$	1,062,609	$	1,024,668	$	992,995	$	823,337
Net income (loss)		59,508		(1,454)		75,978		228,698
Net income (loss) attributable to Digital Realty Trust, Inc.		57,691		(138)		74,831		224,014
Preferred stock dividends and issuance costs associated with redeemed preferred stock		(13,514)		(37,232)		(21,155)		(21,155)
Net income (loss) available to common stockholders	$	44,177	$	(37,370)	$	53,676	$	202,859
Basic net income (loss) per share available to common stockholders	$	0.16	$	(0.14)	$	0.20	$	0.91
Diluted net income (loss) per share available to common stockholders	$	0.16	$	(0.14)	$	0.20	$	0.90


	Three Months Ended
	December 31,		September 30,
	2019		2019		June 30, 2019		March 31, 2019
Total operating revenues	$	787,463	$	806,466	$	800,797	$	814,515
Net income		349,326		67,574		61,324		120,997
Net income attributable to Digital Realty Trust, Inc.		336,284		66,497		60,168		116,812
Preferred stock dividends and issuance costs associated with redeemed preferred stock		(20,707)		(16,670)		(28,430)		(20,943)
Net income available to common stockholders	$	315,577	$	49,827	$	31,738	$	95,869
Basic net income per share available to common stockholders	$	1.51	$	0.24	$	0.15	$	0.46
Diluted net income per share available to common stockholders	$	1.50	$	0.24	$	0.15	$	0.46

Quarterly Financial Information (Digital Realty Trust, L.P.)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information (Digital Realty Trust, L.P.) (unaudited)

19. Quarterly Financial Information (Digital Realty Trust, Inc.) (unaudited)


	Three Months Ended
	December 31,		September 30,
	2020		2020		June 30, 2020		March 31, 2020
Total operating revenues	$	1,062,609	$	1,024,668	$	992,995	$	823,337
Net income (loss)		59,508		(1,454)		75,978		228,698
Net income (loss) attributable to Digital Realty Trust, Inc.		57,691		(138)		74,831		224,014
Preferred stock dividends and issuance costs associated with redeemed preferred stock		(13,514)		(37,232)		(21,155)		(21,155)
Net income (loss) available to common stockholders	$	44,177	$	(37,370)	$	53,676	$	202,859
Basic net income (loss) per share available to common stockholders	$	0.16	$	(0.14)	$	0.20	$	0.91
Diluted net income (loss) per share available to common stockholders	$	0.16	$	(0.14)	$	0.20	$	0.90


	Three Months Ended
	December 31,		September 30,
	2019		2019		June 30, 2019		March 31, 2019
Total operating revenues	$	787,463	$	806,466	$	800,797	$	814,515
Net income		349,326		67,574		61,324		120,997
Net income attributable to Digital Realty Trust, Inc.		336,284		66,497		60,168		116,812
Preferred stock dividends and issuance costs associated with redeemed preferred stock		(20,707)		(16,670)		(28,430)		(20,943)
Net income available to common stockholders	$	315,577	$	49,827	$	31,738	$	95,869
Basic net income per share available to common stockholders	$	1.51	$	0.24	$	0.15	$	0.46
Diluted net income per share available to common stockholders	$	1.50	$	0.24	$	0.15	$	0.46

Quarterly Financial Information (Digital Realty Trust, L.P.) (unaudited)

20. Quarterly Financial Information (Digital Realty Trust, L.P.) (unaudited)


	Three Months Ended
	December 31,		September 30,
	2020		2020		June 30, 2020		March 31, 2020
Total operating revenues	$	1,062,609	$	1,024,668	$	992,995	$	823,337
Net income (loss)		59,508		(1,454)		75,978		228,698
Net income (loss) attributable to Digital Realty Trust, L.P.		58,991		(1,138)		76,231		231,814
Preferred unit distributions and issuance costs associated with redeemed preferred units		(13,514)		(37,232)		(21,155)		(21,155)
Net income (loss) available to common unitholders	$	45,477	$	(38,370)	$	55,076	$	210,659
Basic net income (loss) per unit available to common unitholders	$	0.16	$	(0.14)	$	0.20	$	0.91
Diluted net income (loss) per unit available to common unitholders	$	0.16	$	(0.14)	$	0.20	$	0.90


	Three Months Ended
	December 31,		September 30,
	2019		2019		June 30, 2019		March 31, 2019
Total operating revenues	$	787,463	$	806,466	$	800,797	$	814,515
Net income		349,326		67,574		61,324		120,997
Net income attributable to Digital Realty Trust, L.P.		349,384		68,797		61,568		121,112
Preferred unit distributions and issuance costs associated with redeemed preferred units		(20,707)		(16,670)		(28,430)		(20,943)
Net income available to common unitholders	$	328,677	$	52,127	$	33,138	$	100,169
Basic net income per unit available to common unitholders	$	1.51	$	0.24	$	0.15	$	0.46
Diluted net income per unit available to common unitholders	$	1.50	$	0.24	$	0.15	$	0.46

Subsequent Events

12 Months Ended

Dec. 31, 2020

Subsequent Events

Subsequent Events

21. Subsequent Events

On February 4, 2021 (the “Redemption Date”), the Operating Partnership redeemed the $350.0 million aggregate principal amount outstanding of its 2.750% Notes due 2023 (the “2.750% Notes”). The redemption price for the 2.750% Notes was equal to the sum of (a) $1,047.09 per $1,000 principal amount of the 2.750% Notes, or 104.709% of the aggregate principal amount of the 2.750% Notes, plus (b) accrued and unpaid interest to, but excluding, the Redemption Date equal to $0.23 per $1,000 principal amount of the 2.750% Notes. The redemption will result in an early extinguishment charge of approximately $17.5 million during the three months ending March 31, 2021.

On January 12, 2021, Digital Intrepid Holding B.V., an indirect wholly owned holding and finance subsidiary of the Operating Partnership through which the Interxion business is held, issued and sold €1.0 billion aggregate principal amount of 0.625% Guaranteed Notes due 2031 (the “2031 Notes”). The 2031 Notes are senior unsecured obligations of Digital Intrepid Holding B.V. and are fully and unconditionally guaranteed by Digital Realty Trust, Inc. and the Operating Partnership. Net proceeds from the offering were approximately €988.3 million (approximately $1,206.4 million based on the exchange rate on January 12, 2021) after deducting managers’ discounts and estimated offering expenses.

Schedule III Properties And Accumulated Depreciation

12 Months Ended

Dec. 31, 2020

Schedule III Properties And Accumulated Depreciation

Schedule III Properties And Accumulated Depreciation


						Costs capitalized
			Initial costs			subsequent to acquisition		Total costs				Accumulated	Date of
				Acquired					Acquired			depreciation	acquisition
	Data Center			ground	Buildings and		Carrying		ground	Buildings and		and	or
	Buildings	Encumbrances	Land	lease	improvements	Improvements	costs	Land	lease	improvements	Total	amortization	construction
North American Markets
Northern Virginia	24	104,000	198,989	—	1,712,144	2,187,605	—	216,041	—	3,882,697	4,098,738	(887,079)	2005 - 2019
Chicago	10	—	95,444	—	1,320,334	977,634	—	105,830	—	2,287,582	2,393,412	(601,875)	2005 - 2017
Silicon Valley	20	—	153,145	—	919,499	537,828	—	150,910	—	1,459,562	1,610,472	(546,797)	2002 - 2018
Dallas	21	—	66,489	—	338,284	1,010,243	—	58,900	—	1,356,116	1,415,016	(535,422)	2002 - 2015
New York	13	—	17,301	—	474,561	756,411	—	17,042	—	1,231,231	1,248,273	(573,828)	2002 - 2015
Phoenix	3	—	17,239	—	416,097	332,714	—	11,859	—	754,191	766,050	(333,416)	2006 - 2015
San Francisco	4	—	41,165	—	358,066	244,015	—	41,478	—	601,768	643,246	(220,149)	2004 - 2015
Seattle	1	135,000	43,110	—	329,283	5,058	—	43,110	—	334,341	377,451	(24,299)	2020
Boston	4	—	19,255	—	259,939	93,660	—	18,029	—	354,825	372,854	(140,488)	2006 - 2011
Toronto	2	—	33,994	—	117,540	216,551	—	21,018	—	347,067	368,085	(30,540)	2013 - 2017
Atlanta	4	—	6,537	—	264,948	65,363	—	6,552	—	330,296	336,848	(79,678)	2011 - 2017
Los Angeles	4	—	40,627	—	126,769	111,501	—	39,933	—	238,964	278,897	(122,487)	2004 - 2015
Portland	2	—	1,689	—	3,131	235,685	—	4,264	—	236,241	240,505	(33,945)	2011 - 2015
Houston	6	—	6,965	—	23,492	148,818	—	6,594	—	172,681	179,275	(91,316)	2006
Austin	1	—	1,177	—	4,877	71,521	—	1,177	—	76,398	77,575	(19,703)	2005
Miami	2	—	2,964	—	29,793	35,202	—	2,964	—	64,995	67,959	(27,534)	2002 - 2015
Minneapolis-St. Paul	1	—	10,190	—	20,054	3,191	—	10,190	—	23,245	33,435	(6,206)	2013
Charlotte	3	—	4,117	—	13,068	13,282	—	4,118	—	26,349	30,467	(15,048)	2005 - 2015
Other	—	—	—	—	-	85,339	—	-	—	85,339	85,339	(12,003)	-
Total North America	125	239,000	760,397	—	6,731,879	7,131,621	—	760,009	—	13,863,888	14,623,897	(4,301,813)

EMEA Markets
London	19	—	138,063	7,355	1,527,932	661,636	—	82,673	6,695	2,245,618	2,334,986	(574,308)	2007 - 2020
Amsterdam	17	—	40,709	3,518	1,001,157	335,317	—	64,074	3,512	1,313,115	1,380,701	(156,730)	2005 - 2020
Frankfurt	21	—	34,621	—	1,032,780	496,372	—	38,085	—	1,525,688	1,563,773	(58,427)	2015 - 2020
Dublin	8	—	11,722	1,444	136,827	181,109	—	8,538	101	322,463	331,102	(108,544)	2006 - 2020
Paris	12	—	69,350	—	277,141	163,419	—	70,354	—	439,556	509,910	(27,337)	2012 - 2020
Marseille	4	—	1,105	—	314,106	26,035	—	1,196	—	340,050	341,246	(10,549)	2020
Vienna	2	—	14,159	—	363,062	12,698	—	14,502	—	375,417	389,919	(13,888)	2020
Zurich	3	—	20,605	—	34,934	127,385	—	22,307	—	160,617	182,924	(3,427)	2020
Stockholm	6	—	—	—	101,470	8,378	—	—	—	109,848	109,848	(7,021)	2020
Madrid	3	—	8,456	—	132,011	9,691	—	8,662	—	141,496	150,158	(4,769)	2020
Copenhagen	3	—	11,665	—	110,925	4,991	—	11,956	—	115,625	127,581	(4,039)	2020
Brussels	2	—	3,874	—	119,077	6,217	—	3,968	—	125,200	129,168	(3,808)	2020
Dusseldorf	2	—	—	—	36,303	2,998	—	—	—	39,301	39,301	(1,710)	2020
Geneva	1	—	—	—	20,071	716	—	—	—	20,787	20,787	(9,869)	2005
Manchester	1	—	—	—	23,918	(7,029)	—	—	—	16,889	16,889	(6,063)	2008
Other metros	6	—	3,144	—	43,046	17,695	—	3,925	—	59,960	63,885	(3,140)	2020
Total EMEA	110	—	357,473	12,317	5,274,760	2,047,628	—	330,240	10,308	7,351,630	7,692,178	(993,629)

APAC Markets
Singapore	3	—	—	—	137,545	418,856	—	—	—	556,401	556,401	(190,246)	2010 - 2015
Sydney	4	—	18,285	—	3,868	125,154	—	12,771	—	134,536	147,307	(29,680)	2011 - 2012
Melbourne	2	—	4,467	—	—	113,896	—	3,372	—	114,991	118,363	(39,651)	2011
Other	4	—	—	—	—	4,842	—	-	—	4,842	4,842	(202)
Total APAC	13	—	22,752	—	141,413	662,748	—	16,143	—	810,770	826,913	(259,779)
Total Portfolio	248	239,000	1,140,622	12,317	12,148,052	9,841,997	—	1,106,392	10,308	22,026,288	23,142,988	(5,555,221)

(1) Tax Cost

The aggregate gross cost of the Company’s properties for federal income tax purposes approximated $32.7 billion (unaudited) as of December 31, 2020.

(2) Historical Cost and Accumulated Depreciation and Amortization

The following table reconciles the historical cost of the Company’s properties for financial reporting purposes for each of the years in the three-year period ended December 31, 2020.


	Year Ended December 31,
	2020		2019		2018
Balance, beginning of year	$	16,886,592	$	17,055,016	$	16,915,936
Additions during period (acquisitions and improvements)		6,514,218		833,836		223,163
Deductions during period (dispositions, impairments and assets held for sale)		(257,822)		(1,002,260)		(84,083)
Balance, end of year	$	23,142,988	$	16,886,592	$	17,055,016

The following table reconciles accumulated depreciation and amortization of the Company’s properties for financial reporting purposes for each of the years in the three-year period ended December 31, 2020.


	Year Ended December 31,
	2020		2019		2018
Balance, beginning of year	$	4,536,169	$	3,935,267	$	3,238,227
Additions during period (depreciation and amortization expense)		1,029,863		805,916		714,336
Deductions during period (dispositions and assets held for sale)		(10,811)		(205,014)		(17,296)
Balance, end of year	$	5,555,221	$	4,536,169	$	3,935,267

Schedules other than those listed above are omitted because they are not applicable or the information required is included in the consolidated financial statements or the notes thereto.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Summary of Significant Accounting Policies

Principles of Consolidation and Basis of Presentation

(a) Principles of Consolidation and Basis of Presentation

The notes to the consolidated financial statements of Digital Realty Trust, Inc. and the Operating Partnership have been combined to provide the following benefits:

●

creating time and cost efficiencies through the preparation of one set of notes instead of two separate sets of notes.

●

consolidated face financial statements; and

●

the following notes to the consolidated financial statements:

●

"Debt of the Company" and "Debt of the Operating Partnership";

●

"Income per Share" and "Income per Unit";

●

"Equity and Accumulated Other Comprehensive Loss, Net of the Company" and Capital and Accumulated Other Comprehensive Loss of the Operating Partnership"; and

●

"Quarterly Financial Information".

Cash, Cash Equivalents and Restricted Cash

(b) Cash, Cash Equivalents and Restricted Cash

Cash, cash equivalents, and restricted cash balances as of December 31, 2020, 2019 and 2018:


	Balance as of
(Amounts in thousands)	December 31, 2020		December 31, 2019		December 31, 2018
Cash and cash equivalents	$	108,501	$	89,817	$	126,700
Restricted cash (included in other assets)		15,151		7,436		8,522
Total	$	123,652	$	97,253	$	135,222

Investments in Real Estate


Acquired ground leases		Terms of the related lease
Buildings and improvements		5-39 years
Machinery and equipment		7-15 years
Furniture and fixtures		3-5 years
Leasehold improvements		Shorter of the estimated useful lives or the terms of the related leases
Tenant improvements		Shorter of the estimated useful lives or the terms of the related leases

Improvements and replacements are capitalized when they extend the useful life, increase capacity, or improve the efficiency of the asset. Repairs and maintenance are charged to expense as incurred.

Investment in Unconsolidated Joint Ventures

(d) Investments in Unconsolidated Joint Ventures

Impairment of Long-Lived and Finite-Lived Intangible Assets

(e) Impairment of Long-Lived and Finite-Lived Intangible Assets

Acquisition Accounting

(f) Acquisition Accounting

Goodwill

(g) Goodwill

The following is a summary of goodwill activity for the years ended December 31, 2020 and 2019 (in thousands):


	Balance as of								Impact of Change		Balance as of
	December 31,		Merger /				Goodwill		in Foreign		December 31,
Merger / Portfolio Acquisition	2019		Acquisition		Deconsolidation		Adjustments		Exchange Rates		2020

Telx Acquisition	$	330,845	$	—	$	—	$	—	$	—	$	330,845
European Portfolio Acquisition		440,079		—		—		—		23,075		463,154
DFT Merger		2,592,146		—		—		—		—		2,592,146
Interxion Combination		—		4,338,711		—		—		380,156		4,718,867
Other combinations		—		215,949						10,035		225,984
Total	$	3,363,070	$	4,554,660	$	—	$	—	$	413,266	$	8,330,996

	Balance as of								Impact of Change		Balance as of
	December 31,		Merger /				Goodwill		in Foreign		December 31,
	2018		Acquisition		Deconsolidation		Adjustments ⁽¹⁾		Exchange Rates		2019

Telx Acquisition	$	330,845	$	—	$	—	$	—	$	—	$	330,845
European Portfolio Acquisition		442,349		—		—		(9,436)		7,166		440,079
DFT Merger		2,592,146		—		—		—		—		2,592,146
Ascenty Acquisition		982,667		—		(967,189)		—		(15,478)		—
Total	$	4,348,007	$	—	$	(967,189)	$	(9,436)	$	(8,312)	$	3,363,070

(1)	As a result of a subsequent reduction to an acquired deferred tax liability that would not have impacted consideration paid, goodwill was adjusted.

Capitalization of Costs

(h) Capitalization of Costs

Deferred Leasing Costs

(i) Deferred Leasing Costs

Marketable Equity Securities

(j) Marketable Equity Securities

As of December 31, 2020 and 2019, marketable equity securities consisted of common stock traded on a public stock exchange.

Foreign Currency Translation

(k) Foreign Currency Translation

are translated using the exchange rates in effect at the time of the cash flows or an average exchange rate for the period, depending on the nature of the cash flow item.

Deferred Financing Costs

(l) Deferred Financing Costs

Offering Costs

(m) Offering Costs

Share-Based Compensation

(n) Share-Based Compensation

Derivative Instruments

(o) Derivative Instruments

See Note 16 for further discussion on derivative instruments.

Income Taxes

(p) Income Taxes

See Note 12 for further discussion on income taxes.

Presentation of Transactional-Based Taxes

(q) Presentation of Transactional-based Taxes

We account for transactional-based taxes, such as value added tax, or VAT, for our international properties on a net basis.

Redeemable Noncontrolling Interests

(r) Redeemable Noncontrolling Interests

Lease Accounting

(s) Lease Accounting

Transition

●

Package (“all or nothing” expedients) - requires us not to reevaluate our existing or expired leases as of January 1, 2019, under Topic 842;

●

Optional transition method - requires us to apply Topic 842 prospectively from the effective date of adoption (i.e., January 1, 2019);

●

Land easements - requires us to account for land easements existing as of January 1, 2019, under the accounting standards applied to them prior to January 1, 2019;

●

Our election of the package of practical expedients and the optional transition method allowed us not to reassess:

●

Whether any expired or existing contracts as of January 1, 2019 are or contain leases as defined in Topic 842;

●

The lease classification for any expired or existing leases as of January 1, 2019; and

●

Treatment of initial direct costs relating to any existing leases as of January 1, 2019.

Subsequent application of the new lease accounting guidance

Definition of a lease

One party (lessor) must hold an identified asset;

ii.

The counterparty (lessee) must have the right to obtain substantially all of the economic benefits from the use of the asset throughout the period of the contract; and

iii.

The counterparty (lessee) must have the right to direct the use of the identified asset throughout the period of the contract.

Lease classification

Ownership is transferred from lessor to lessee by the end of the lease term;

ii.

An option to purchase is reasonably certain to be exercised;

iii.

The lease term is for the major part of the underlying asset’s remaining economic life;

iv.

The present value of lease payments equals or exceeds substantially all of the fair value of the underlying asset; or

The underlying asset is specialized and is expected to have no alternative use at the end of the lease term.

Lessor accounting

Costs to execute leases

Operating leases

The timing and pattern of transfer of the lease component and the non-lease component(s) are the same; and

ii.

The lease component would be classified as an operating lease if it were accounted for separately.

Revenue Recognition

(t) Revenue Recognition

Assets and Liabilities Measured at Fair Value

(u) Assets and Liabilities Measured at Fair Value

Transaction and Integration Expense

(v) Transaction and Integration Expense

Gains on Disposition of Properties

(w) Gains on Disposition of Properties

Gain On Deconsolidation

(x) Gain on Deconsolidation

Management's Estimates

(y) Management’s Estimates

Segment and Geographic Information

(z) Segment and Geographic Information

New Accounting Pronouncements

(aa) New Accounting Pronouncements

New Accounting Standards Adopted

Standard/Description	Effective Date and Adoption Considerations	Effect on Financial Statements or Other Significant Matters
ASU 2016-13, Measurement of Credit Losses on Financial Instruments. This standard requires financial assets measured on an amortized cost basis, including trade receivables, to be presented at the net amount expected to be collected.	We adopted the new standard as of January 1, 2020.	The adoption of the new standard did not have a material effect on our consolidated financial statements.
ASU 2017-04, Intangibles – Goodwill and Other: Simplifying the Test for Goodwill Impairment. This standard simplifies the accounting for goodwill impairment by eliminating the process of measuring the implied value of goodwill, known as step two, from the goodwill impairment test. Instead, if the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit.	We adopted the new standard as of January 1, 2020.	The adoption of the new standard did not have a material effect on our consolidated financial statements.
ASU 2020-04, Reference Rate Reform - Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This standard contains optional practical expedients and exceptions for applying Generally Accepted Accounting Principles (“GAAP”) to contracts, hedging relations, and other transactions affected by reference rate reform if certain criteria are met.	We elected certain optional practical expedients as of January 1, 2020	The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. As of January 1, 2020, we have elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.

Reclassifications

(bb) Reclassification

We have reclassified certain items in the December 31, 2019 consolidated balance sheet to conform to the current year presentation.

Organization and Description of Business (Tables)

12 Months Ended

Dec. 31, 2020

Organization and Description of Business

Schedule of Real Estate Properties


	Data Centers
	As of December 31, 2020				As of December 31, 2019
			Unconsolidated				Unconsolidated
Region	Operating		Joint Ventures	Total	Operating	Held for Sale ⁽²⁾	Joint Ventures	Total
United States	123		16	139	119	11	17	147
Europe	107	⁽¹⁾	—	107	41	—	—	41
Latin America	—		22	22	—	—	19	19
Asia	7		5	12	5	—	5	10
Australia	6		—	6	5	—	—	5
Africa	3	⁽¹⁾	—	3	—	—	—	—
Canada	2		—	2	2	1	—	3
Total	248		43	291	172	12	41	225

(1)	Includes 62 data centers in Europe and three data centers in Africa that were acquired as part of the Interxion Combination.

(2)	Includes 10 Powered Base Building® properties, which comprise 12 data centers, that were held for sale to a third party as of December 31, 2019 and subsequently sold in January 2020 (see Note 5).

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Significant Accounting Policies

Schedule of cash, cash equivalents, and restricted cash


	Balance as of
(Amounts in thousands)	December 31, 2020		December 31, 2019		December 31, 2018
Cash and cash equivalents	$	108,501	$	89,817	$	126,700
Restricted cash (included in other assets)		15,151		7,436		8,522
Total	$	123,652	$	97,253	$	135,222

Schedule of property and equipment


Acquired ground leases		Terms of the related lease
Buildings and improvements		5-39 years
Machinery and equipment		7-15 years
Furniture and fixtures		3-5 years
Leasehold improvements		Shorter of the estimated useful lives or the terms of the related leases
Tenant improvements		Shorter of the estimated useful lives or the terms of the related leases

Schedule of Goodwill

The following is a summary of goodwill activity for the years ended December 31, 2020 and 2019 (in thousands):


	Balance as of								Impact of Change		Balance as of
	December 31,		Merger /				Goodwill		in Foreign		December 31,
Merger / Portfolio Acquisition	2019		Acquisition		Deconsolidation		Adjustments		Exchange Rates		2020

Telx Acquisition	$	330,845	$	—	$	—	$	—	$	—	$	330,845
European Portfolio Acquisition		440,079		—		—		—		23,075		463,154
DFT Merger		2,592,146		—		—		—		—		2,592,146
Interxion Combination		—		4,338,711		—		—		380,156		4,718,867
Other combinations		—		215,949						10,035		225,984
Total	$	3,363,070	$	4,554,660	$	—	$	—	$	413,266	$	8,330,996

	Balance as of								Impact of Change		Balance as of
	December 31,		Merger /				Goodwill		in Foreign		December 31,
	2018		Acquisition		Deconsolidation		Adjustments ⁽¹⁾		Exchange Rates		2019

Telx Acquisition	$	330,845	$	—	$	—	$	—	$	—	$	330,845
European Portfolio Acquisition		442,349		—		—		(9,436)		7,166		440,079
DFT Merger		2,592,146		—		—		—		—		2,592,146
Ascenty Acquisition		982,667		—		(967,189)		—		(15,478)		—
Total	$	4,348,007	$	—	$	(967,189)	$	(9,436)	$	(8,312)	$	3,363,070

(1)	As a result of a subsequent reduction to an acquired deferred tax liability that would not have impacted consideration paid, goodwill was adjusted.

Business Combinations and Deconsolidation (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations and Deconsolidation

Summary of Preliminary Fair Value of Assets and Liabilities Acquired

The following table summarizes the acquired assets and liabilities recorded at their fair values as of the acquisition date (in thousands):


	Final
	Amounts
Land	$	190,970
Build and improvements		3,166,988
Construction in progress and space held for development		397,825
Operating lease right-of-use assets		553,987
Goodwill		4,338,711
Customer relationship value and other intangibles ⁽¹⁾		1,052,811
Debt assumed		(1,662,276)
Finance lease obligations		(47,797)
Operating lease liabilities		(553,987)
Deferred tax liability, net		(535,990)
Working capital liabilities, net		(24,738)
Total purchase consideration		6,876,504
Assumed cash and cash equivalents		108,548
Total equity consideration	$	6,985,052

(1) The weighted average amortization life for customer relationship value is 20 years.

Pro Forma Financial Information


	Pro forma (unaudited, in thousands)
	Year Ended December 31,
Digital Realty Trust, Inc.	2020		2019
Total revenue	$	4,051,608	$	3,758,054
Net income available to common stockholders ⁽¹⁾	$	323,889	$	267,600



	Pro forma (unaudited, in thousands)
	Year Ended December 31,
Digital Realty Trust, L.P.	2020		2019
Total revenue	$	4,051,608	$	3,758,054
Net income available to common unitholders ⁽¹⁾	$	333,389	$	288,700

(1)	Pro forma net income available to common stockholders/unitholders was adjusted to exclude $65.7 million of merger-related costs incurred by the Company during the year ended December 31, 2020 and to include these charges for the year ended December 31, 2019.

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases

Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases as of December 31, 2020 and 2019 was as follows (in thousands):


	Balance Sheet	Balance as of
	Classification	December 31, 2020		December 31, 2019
Assets:
Operating lease assets	Operating lease right-of-use assets, net ⁽¹⁾	$	1,386,959	$	628,681
Finance lease assets	Buildings and improvements, net ⁽²⁾		181,753		131,072
Total leased assets		$	1,568,712	$	759,753

Liabilities:
Operating lease liabilities	Operating lease liabilities	$	1,468,712	$	693,539
Finance lease liabilities	Accounts payable and other accrued liabilities		233,350		178,086
Total lease liabilities		$	1,702,062	$	871,625

_________________________

(1) Net of accumulated depreciation and amortization of $148.4 million and $51.7 million as of December 31, 2020 and 2019, respectively.

(2) Net of accumulated depreciation and amortization of $12.5 million and $4.9 million as of December 31, 2020 and 2019, respectively.

Lease, Cost

The components of lease expense for the years ended December 31, 2020 and 2019 were as follows (in thousands):


		Years Ended
Lease cost	Income Statement Classification	December 31, 2020		December 31, 2019

Finance lease cost:
Amortization of right-of-use assets	Depreciation and amortization	$	7,222	$	5,074
Interest on lease liabilities	Interest expense		7,060		6,044
Operating lease cost	Rental property operating and maintenance / General and administrative		129,399		90,980
Total lease cost		$	143,681	$	102,098

Finance Leases Maturity

Maturities of lease liabilities as of December 31, 2020 were as follows (in thousands):


	Operating		Finance
	lease liabilities		lease liabilities
2021	$	137,324	$	12,578
2022		143,183		13,099
2023		143,606		33,288
2024		144,303		12,039
2025		145,162		12,094
Thereafter		1,046,233		244,675
Total undiscounted future cash flows		1,759,811		327,773
Less: Imputed interest		(291,099)		(94,423)
Present value of undiscounted future cash flows	$	1,468,712	$	233,350

Operating Lease Maturity

Maturities of lease liabilities as of December 31, 2020 were as follows (in thousands):


	Operating		Finance
	lease liabilities		lease liabilities
2021	$	137,324	$	12,578
2022		143,183		13,099
2023		143,606		33,288
2024		144,303		12,039
2025		145,162		12,094
Thereafter		1,046,233		244,675
Total undiscounted future cash flows		1,759,811		327,773
Less: Imputed interest		(291,099)		(94,423)
Present value of undiscounted future cash flows	$	1,468,712	$	233,350

Lessor Operating Minimum Lease Payments


	Operating leases
2021	$	2,874,204
2022		2,126,375
2023		1,760,337
2024		1,457,784
2025		1,155,144
Thereafter		3,907,635
Total	$	13,281,479

Investments in Properties (Tables)

12 Months Ended

Dec. 31, 2020

Investments in Properties

Schedule of Investments in Properties

A summary of our investments in properties as of December 31, 2020 and 2019 is as follows:


	As of December 31,
Property Type	2020		2019
Land	$	1,106,392	$	804,830
Acquired ground lease		10,308		10,725
Buildings and improvements		21,335,396		15,449,884
Tenant improvements		690,892		621,153
		23,142,988		16,886,592
Accumulated depreciation and amortization		(5,555,221)		(4,536,169)
Investments in operating properties, net		17,587,767		12,350,423
Construction in progress and space held for development		2,768,325		1,732,555
Land held for future development		226,862		147,597
Investments in properties, net	$	20,582,954	$	14,230,575

Schedule of Properties Acquired

The table below reflects the purchase price allocation for the real estate acquired in 2020 (in thousands):


Description	Amount		Weighted average remaining intangible amortization life (in years)

Investment in properties	$	897,181
Customer relationship value and in-place leases		68,850	15
Working capital, net		7,224
Below-market leases		(2,540)	15
Secured debt		(135,000)
Noncontrolling interests in consolidated joint ventures		(5,715)
Acquisition date fair value	$	830,000

Schedule of Dispositions

We sold the following real estate properties during the years ended December 31, 2020, 2019 and 2018:

2020 Dispositions


				Gross Proceeds		Gain on Sale
Location / Portfolio	Metro Area	Date Sold		(in millions)		(in millions)
Mapletree portfolio ⁽¹⁾	Various		Jan 14, 2020	$	557.0	$	306.5
Liverpoolweg 10	Amsterdam		Jul 17, 2020		21.5		10.4
Naritaweg 52	Amsterdam		Dec 30, 2020		6.1		—
				$	584.6	$	316.9

2019 Dispositions


				Fair Value		Gain on contribution
Location / Portfolio	Metro Area	Date Sold		(in millions)		(in millions)
Mapletree portfolio ⁽²⁾	Northern Virginia		Nov 1, 2019	$	996.6	$	266.0

2018 Dispositions


					Gross Proceeds		Gain on Sale
Location	Metro Area		Date Sold		(in millions)		(in millions)
200 Quannapowitt Parkway		Boston		Jan 25, 2018	$	15.0	$	(0.4)
34551 Ardenwood Boulevard		Silicon Valley		Feb 9, 2018		73.3		25.3
3065 Gold Camp Drive		Sacramento		Mar 14, 2018		14.2		5.4
11085 Sun Center Drive		Sacramento		Mar 14, 2018		36.8		9.1
Austin Portfolio		Austin		Apr 19, 2018		47.6		12.0
2010 East Centennial Circle		Phoenix		May 22, 2018		5.5		(0.5)
1125 Energy Park Drive		Minneapolis		May 31, 2018		7.0		2.8
360 Spear Street		San Francisco		Sep 21, 2018		92.3		26.7
					$	291.7	$	80.4

(3)

(4)	Consists of three data centers that were contributed to a joint venture with Mapletree.

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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Investments in Unconsolidated Joint Ventures

Investments in Unconsolidated Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Financial Information for Joint Ventures


	Year Joint	# of	Metropolitan			Balance as of		Balance as of
Joint Venture	Venture Formed	Data Centers	Area	% Ownership		December 31, 2020		December 31, 2019

Ascenty ⁽¹⁾	2019	22	Brazil / Chile / Mexico	51	% ⁽²⁾	$	567,192	$	787,026
Mapletree	2019	3	Northern Virginia	20	%		184,890		196,181
Mitsubishi	2017	4	Osaka / Tokyo	50	%		278,947		200,652
CenturyLink	2012	1	Hong Kong	50	%		86,600		88,647
Other	Various	13	U.S.	Various			30,529		14,603
Total		43				$	1,148,158	$	1,287,109

(1) Our maximum exposure to loss related to this unconsolidated variable interest entity (VIE) is limited to our equity investment in this VIE.

The following tables present summarized financial information for our unconsolidated joint ventures for the years ended December 31, 2020, 2019, and 2018 (in thousands):


															Property		Net		Net
	%		Net Investment		Total		Mortgage		Total						Operating		Operating		Income
2020	Ownership		in Properties		Assets		Loans		Liabilities		Equity		Revenues		Expense		Income		(Loss)
Unconsolidated Joint Ventures
2020 Fifth Avenue	50.00	%	$	43,255	$	52,435	$	47,748	$	48,119	$	4,316	$	10,107	$	(2,887)	$	7,220	$	4,393
CenturyLink	50.00	%		142,596		181,464		—		8,264		173,200		25,006		(10,241)		14,765		5,581
Mitsubishi	50.00	%		734,362		968,957		243,911		358,749		610,208		154,114		(71,001)		83,113		43,746
Ascenty	51.00	%		594,322		1,862,402		720,623		833,801		1,028,601		165,680		(60,640)		105,040		(191,161)
Mapletree	20.00	%		723,678		985,900		—		38,140		947,760		106,966		(40,904)		66,062		(11,473)
PREI ®	20.00	%		359,706		409,836		211,205		278,645		131,191		41,459		(9,182)		32,277		9,446
GCEAR	20.00	%		106,316		117,573		89,300		90,709		26,864		21,401		(6,787)		14,614		4,642
Other	Various			19,261		24,371		3,563		3,876		20,495		10,508		(6,945)		3,563		(271)
Total Unconsolidated Joint Ventures			$	2,723,496	$	4,602,938	$	1,316,350	$	1,660,303	$	2,942,635	$	535,241	$	(208,587)	$	326,654	$	(135,097)
Our investment in and share of equity in loss of unconsolidated joint ventures											$	1,148,158							$	(57,629)


															Property		Net		Net
	%		Net Investment		Total		Mortgage		Total		Equity /				Operating		Operating		Income
2019	Ownership		in Properties		Assets		Loans		Liabilities		(Deficit)		Revenues		Expense			Income	(Loss)
Unconsolidated Joint Ventures
2001 Sixth Avenue	50.00	%	$	30,748	$	47,485	$	134,583	$	140,354	$	(92,869)	$	56,266	$	(19,254)	$	37,012	$	27,422
2020 Fifth Avenue	50.00	%		43,918		54,325		48,000		48,703		5,622		9,868		(2,544)		7,324		4,649
CenturyLink	50.00	%		148,941		187,241		—		9,947		177,294		24,680		(9,251)		15,429		6,712
Mitsubishi	50.00	%		554,828		753,743		231,046		303,130		450,613		84,344		(39,300)		45,044		18,751
Ascenty	51.00	%		548,114		2,178,663		629,500		764,603		1,414,060		112,052		(40,250)		71,802		(54,606)
Mapletree	20.00	%		765,443		1,042,661		—		23,796		1,018,865		17,852		(6,774)		11,078		(1,872)
PREI ®	20.00	%		365,993		421,635		210,915		281,344		140,291		42,157		(9,918)		32,239		9,968
GCEAR	20.00	%		109,803		127,444		101,902		104,363		23,081		21,120		(9,073)		12,047		(2,636)
Other	7%-17	%		59,901		64,553		4,438		4,706		59,847		11,261		(6,779)		4,482		(31)
Total Unconsolidated Joint Ventures			$	2,627,689	$	4,877,750	$	1,360,384	$	1,680,946	$	3,196,804	$	379,600	$	(143,143)	$	236,457	$	8,357
Our investment in and share of equity in earnings of unconsolidated joint ventures											$	1,287,109							$	8,067


															Property		Net		Net
	%		Net Investment		Total		Mortgage		Total		Equity /				Operating		Operating		Income
2018	Ownership		in Properties		Assets		Loans		Liabilities		(Deficit)		Revenues		Expense		Income		(Loss)
Unconsolidated Joint Ventures
2001 Sixth Avenue	50.00	%	$	32,786	$	49,278	$	134,527	$	139,569	$	(90,291)	$	52,806	$	(17,264)	$	35,542	$	25,612
2020 Fifth Avenue	50.00	%		44,644		54,855		48,000		48,333		6,522		9,417		(2,156)		7,261		4,689
CenturyLink	50.00	%		151,256		201,527		—		9,337		192,190		21,394		(7,164)		14,230		6,958
Mitsubishi	50.00	%		332,373		469,159		228,075		285,424		183,735		59,300		(26,360)		32,940		15,884
PREI ®	20.00	%		375,016		433,024		210,626		283,899		149,125		42,058		(8,457)		33,601		(4,159)
GCEAR	20.00	%		111,909		139,268		101,885		104,268		35,000		20,457		(8,546)		11,911		(2,177)
Other	17.00	%		22,677		24,320		5,225		5,327		18,993		9,383		(5,879)		3,504		415
Total Unconsolidated Joint Ventures			$	1,070,661	$	1,371,431	$	728,338	$	876,157	$	495,274	$	214,815	$	(75,826)	$	138,989	$	47,222
Our investment in and share of equity in earnings of unconsolidated joint ventures											$	175,108							$	32,979

Acquired Intangible Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Acquired Intangible Assets and Liabilities

Summary of Acquired Intangible Assets


	Balance as of
(Amounts in thousands)	December 31, 2020		December 31, 2019
Intangible Assets:
Customer relationship value:
Gross amount	$	2,993,093	$	1,845,949
Accumulated amortization		(570,886)		(400,570)
Net	$	2,422,207	$	1,445,379
Acquired in-place lease value:
Gross amount	$	1,382,563	$	1,357,190
Accumulated amortization		(1,004,421)		(899,071)
Net	$	378,142	$	458,119
Other ⁽¹⁾:
Gross amount	$	57,370	$	—
Accumulated amortization		(7,107)		—
Net	$	50,263	$	—
Acquired above-market leases ⁽²⁾:
Gross amount	$	280,216	$	279,048
Accumulated amortization		(236,922)		(204,233)
Net	$	43,294	$	74,815
Acquired below-market leases ⁽³⁾:
Gross amount	$	401,539	$	396,509
Accumulated amortization		(270,649)		(247,735)
Net	$	130,890	$	148,774

Schedule of Estimated Annual Amortization of Below Market Leases

amortization of acquired below-market lease value, net of acquired above-market lease value, for each of the five succeeding years and thereafter, commencing January 1, 2021 is as follows:


(Amounts in thousands)
2021	$	(2,865)
2022		4,977
2023		9,741
2024		10,393
2025		9,631
Thereafter		55,721
Total	$	87,598

Schedule of Estimated Annual Amortization of Acquired of Intangible Assets

Estimated annual amortization of acquired in-place lease value for each of the five succeeding years and thereafter, commencing January 1, 2021 is as follows:


(Amounts in thousands)
2021	$	79,868
2022		60,129
2023		48,911
2024		41,604
2025		35,765
Thereafter		111,865
Total	$	378,142

Estimated annual amortization of customer relationship value for each of the five succeeding years and thereafter, commencing January 1, 2021 is as follows:


(Amounts in thousands)
2021	$	177,383
2022		176,611
2023		175,943
2024		175,363
2025		174,861
Thereafter		1,542,046
Total	$	2,422,207

Debt of the Company (Tables)

12 Months Ended

Dec. 31, 2020

Debt of the Company

Schedule of debt held by company subsidiaries



Unsecured Senior Notes	Defined Name	Initial Issuer ⁽¹⁾
Floating Rate Notes due 2022	2022 Notes	Digital Dutch Finco B.V. ⁽²⁾
0.125% Notes due 2022	0.125% 2022 Notes	Digital Dutch Finco B.V. ⁽²⁾
2.750% Notes due 2023	2.750% 2023 Notes	Digital Realty Trust, L.P.
2.625% Notes due 2024	2.625% 2024 Notes	Digital Euro Finco, LLC ⁽²⁾
2.750% Notes due 2024	2.750% 2024 Notes	Digital Stout Holding, LLC ⁽³⁾
4.250% Notes due 2025	4.250% 2025 Notes	Digital Stout Holding, LLC ⁽³⁾
0.625% Notes due 2025	0.625% 2025 Notes	Digital Dutch Finco B.V. ⁽²⁾
4.750% Notes due 2025	4.750% 2025 Notes	Digital Delta Holdings, LLC ⁽⁴⁾
2.500% Notes due 2026	2.500% 2026 Notes	Digital Euro Finco, LLC ⁽²⁾
3.700% Notes due 2027	3.700% 2027 Notes	Digital Realty Trust, L.P.
1.125% Notes due 2028	1.125% 2028 Notes	Digital Euro Finco, LLC ⁽²⁾
4.450% Notes due 2028	4.450% 2028 Notes	Digital Realty Trust, L.P.
3.600% Notes due 2029	3.600% 2029 Notes	Digital Realty Trust, L.P.
3.300% Notes due 2029	3.300% 2029 Notes	Digital Stout Holding, LLC ⁽³⁾
1.500% Notes due 2030	1.500% 2030 Notes	Digital Dutch Finco B.V. ⁽²⁾
3.750% Notes due 2030	3.750% 2030 Notes	Digital Stout Holding, LLC ⁽³⁾
1.250% Notes due 2031	1.250% 2031 Notes	Digital Dutch Finco B.V. ⁽²⁾
1.000% Notes due 2032	1.000% Notes 2032	Digital Dutch Finco B.V. ⁽²⁾

(1)	Digital Realty Trust, Inc. guarantees the senior notes issued by Digital Realty Trust, L.P. Both Digital Realty Trust, L.P. and Digital Realty Trust, Inc. guarantee the senior notes issued by Digital Stout Holding, LLC, Digital Euro Finco, LLC and Digital Dutch Finco, B.V.

(2)	An indirect wholly owned finance subsidiary of Digital Realty Trust, L.P.

(3)	A wholly owned subsidiary of Digital Realty Trust, L.P.

(4)

Debt of the Operating Partnership (Tables)

12 Months Ended

Dec. 31, 2020

Debt Instrument

Summary of Senior Notes, Amounts Issued

Amount

Issued (in

Unsecured Senior Notes and Annual

Maturity

millions, local

Net Proceeds

Interest Payment

Interest Rate

Date Issued

Date

currency)

(in millions) ⁽¹⁾

Dates

Initial Issuer ⁽²⁾

Floating Rate Notes due 2022

Sep 23, 2020

Sep 23, 2022

€

300.0

348.7

Quarterly, commencing December 23, 2020

Digital Dutch Finco B.V. ⁽³⁾

0.125% Notes due 2022

Jan 17, 2020

Oct 15, 2022

€

300.0

330.8

Annually, commencing October 15, 2020

Digital Dutch Finco B.V. ⁽³⁾

2.750% Notes due 2023

Aug 7, 2017

Feb 1, 2023

350.0

346.9

Semi-annually, commencing February 1, 2018

Digital Realty Trust, L.P.

2.625% Notes due 2024

Apr 15, 2016

Apr 15, 2024

€

600.0

670.3

Annually, commencing April 15, 2017

Digital Euro Finco, LLC ⁽³⁾

2.750% Notes due 2024

Jul 21, 2017

Jul 19, 2024

250.0

321.3

Annually, commencing July 19, 2018

Digital Stout Holding, LLC ⁽⁴⁾

4.250% Notes due 2025

Jan 18, 2013

Jan 17, 2025

400.0

624.2

Semi-annually, commencing July 17, 2013

Digital Stout Holding, LLC ⁽⁴⁾

0.625% Notes due 2025

Jan 17, 2020

Jul 15, 2025

€

650.0

712.0

Annually, commencing July 15, 2020

Digital Dutch Finco B.V. ⁽³⁾

4.750% Notes due 2025

Oct 1, 2015

Oct 1, 2025

450.0

445.8

Semi-annually, commencing April 1, 2016

Digital Delta Holdings, LLC ⁽⁵⁾

2.500% Notes due 2026

Jan 16, 2019

Jan 16, 2026

€

1,075.0

1,218.6

Annually, commencing January 16, 2020

Digital Euro Finco, LLC ⁽³⁾

3.700% Notes due 2027

Aug 7, 2017

Aug 15, 2027

1,000.0

991.0

Semi-annually, commencing February 15, 2018

Digital Realty Trust, L.P.

1.125% Notes due 2028

Oct 9, 2019

Apr 9, 2028

€

500.0

539.7

Annually, commencing April 9, 2020

Digital Euro Finco, LLC ⁽³⁾

4.450% Notes due 2028

Jun 21, 2018

Jul 15, 2028

650.0

643.3

Semi-annually, commencing January 15, 2019

Digital Realty Trust, L.P.

3.600% Notes due 2029

Jun 14, 2019

Jul 1, 2029

900.0

890.6

Semi-annually, commencing January 1, 2020

Digital Realty Trust, L.P.

3.300% Notes due 2029

Jul 21, 2017

Jul 19, 2029

350.0

448.6

Annually, commencing July 19, 2018

Digital Stout Holding, LLC ⁽⁴⁾

1.500% Notes due 2030

Jan 17, 2020

Mar 15, 2030

€

750.0

819.1

Annually, commencing March 15, 2021

Digital Dutch Finco B.V. ⁽³⁾

3.750% Notes due 2030

Oct 17, 2018 and Mar 9, 2019

Oct 17, 2030

550.0

716.8

Annually, commencing October 17, 2019

Digital Stout Holding, LLC ⁽⁴⁾

1.250% Notes due 2031

Jun 26, 2020

Feb 1, 2031

€

500.0

553.2

Annually, commencing February 1, 2021

Digital Dutch Finco B.V. ⁽³⁾

1.000% Notes due 2032

Sep 23, 2020

Jan 15, 2032

€

750.0

860.0

Annually, commencing January 15, 2021

Digital Dutch Finco B.V. ⁽³⁾

(1)	Amounts are in U.S. dollars, based on the exchange rate on the date of issuance. Net proceeds are equal to principal amount less initial purchaser discount and other debt issuance costs.

(2)	Digital Realty Trust, Inc. guarantees the senior notes issued by Digital Realty Trust, L.P. Both Digital Realty Trust, L.P. and Digital Realty Trust, Inc. guarantee the senior notes issued by Digital Stout Holding, LLC, Digital Euro Finco, LLC and Digital Dutch Finco, B.V.

(3)	An indirect wholly owned finance subsidiary of Digital Realty Trust, L.P.

(4)	A wholly owned subsidiary of Digital Realty Trust, L.P.

(5)

Summary of Outstanding Indebtedness of the Operating Partnership

Debt Instrument

A summary of outstanding indebtedness of the Operating Partnership as of December 31, 2020 and 2019 is as follows (in thousands):


	Interest Rate at					Principal			Principal
	December 31,					Outstanding at			Outstanding at
Indebtedness	2020		Maturity Date			December 31, 2020			December 31, 2019
Global revolving credit facilities	Various	⁽¹⁾		Jan 24, 2023	⁽¹⁾	$	540,184	⁽²⁾	$	245,766	⁽²⁾
Deferred financing costs, net							(8,279)			(11,661)
Global revolving credit facilities, net							531,905			234,105
Unsecured Term Loans
2023 Term Loan	Various	⁽³⁾⁽⁴⁾		Jan 15, 2023			—	⁽⁵⁾⁽⁹⁾		300,000	⁽⁵⁾
2024 Term Loan	Various	⁽³⁾⁽⁴⁾		Jan 24, 2023			537,470	^(5)(12)		513,205	⁽⁵⁾
Deferred financing costs, net							(890)			(2,986)
Unsecured term loans, net							536,580			810,219
Unsecured senior notes:
Senior Notes:
3.950% notes due 2022	3.950	%		Jul 1, 2022			—	⁽¹⁰⁾		500,000
Floating rate notes due 2022	EURIBOR + 0.500	%		Sep 23, 2022			366,480	⁽⁶⁾		—
3.625% notes due 2022	3.625	%		Oct 1, 2022			—	⁽¹⁰⁾		300,000
0.125% notes due 2022	0.125	%		Oct 15, 2022			366,480	⁽⁶⁾		—
2.750% notes due 2023	2.750	%		Feb 1, 2023			350,000	⁽¹³⁾		350,000
4.750% notes due 2023	4.750	%		Oct 13, 2023			—	⁽¹¹⁾		397,710	⁽⁷⁾
2.625% notes due 2024	2.625	%		Apr 15, 2024			732,960	⁽⁶⁾		672,780	⁽⁶⁾
2.750% notes due 2024	2.750	%		Jul 19, 2024			341,750	⁽⁷⁾		331,425	⁽⁷⁾
4.250% notes due 2025	4.250	%		Jan 17, 2025			546,800	⁽⁷⁾		530,280	⁽⁷⁾
0.625% notes due 2025	0.625	%		Jul 15, 2025			794,040	⁽⁶⁾		—
4.750% notes due 2025	4.750	%		Oct 1, 2025			450,000			450,000
2.500% notes due 2026	2.500	%		Jan 16, 2026			1,313,219	⁽⁶⁾		1,205,398	⁽⁶⁾
3.700% notes due 2027	3.700	%		Aug 15, 2027			1,000,000			1,000,000
1.125% notes due 2028	1.125	%		Apr 9, 2028			610,800	⁽⁶⁾		560,650	⁽⁶⁾
4.450% notes due 2028	4.450	%		Jul 15, 2028			650,000			650,000
3.600% notes due 2029	3.600	%		Jul 1, 2029			900,000			900,000
3.300% notes due 2029	3.300	%		Jul 19, 2029			478,450	⁽⁷⁾		463,995	⁽⁷⁾
1.500% notes due 2030	1.500	%		Mar 15, 2030			916,200	⁽⁶⁾		—
3.750% notes due 2030	3.750	%		Oct 17, 2030			751,850	⁽⁷⁾		729,135	⁽⁷⁾
1.250% notes due 2031	1.250	%		Feb 1, 2031			610,800	⁽⁶⁾		—
1.000% notes due 2032	1.000	%		Jan 15, 2032			916,200	⁽⁶⁾		—
Unamortized discounts, net of premiums							(34,988)			(16,145)
Total senior notes, net of discount							12,061,041			9,025,228
Deferred financing costs, net							(64,031)			(52,038)
Total unsecured senior notes, net of discount and deferred financing costs							11,997,010			8,973,190

Secured Debt:
731 East Trade Street	8.22	%		Jul 1, 2020		$	—	⁽⁸⁾	$	1,089
Secured note due March 2023	LIBOR + 1.000	% ⁽⁴⁾		Mar 1, 2023			104,000			104,000
Westin	3.290	%		Jul 11, 2027			135,000			—
Other secured debt							330			—
Unamortized net (discounts) / premiums							(4)			54
Total secured debt, including premiums							239,326			105,143
Deferred financing costs, net							(104)			(209)
Total secured debt, including premiums and net of deferred financing costs							239,222			104,934
Total indebtedness						$	13,304,717		$	10,122,448

(1)

(2)	Balances as of December 31, 2020 and December 31, 2019 are as follows (balances, in thousands):


	Balance as of			Weighted-		Balance as of			Weighted-
	December 31,			average		December			average
Denomination of Draw	2020			interest rate		31, 2019			interest rate
Global Revolving Credit Facility
Floating Rate Borrowing (a) (d)
U.S. dollar ($)	$	40,000		1.05	%	$	—		—	%
British pound sterling (£)		47,845	^(b)	0.93	%		—		—	%
Euro (€)		284,633	^(b)	0.90	%		44,852	^(c)	0.90	%
Australian dollar (AUD)		—		—	%		1,264	^(c)	1.74	%
Singapore dollar (SGD)		111,340	^(b)	1.02	%		53,199	^(c)	2.46	%
Canadian dollar (CAD)		9,423	^(b)	1.36	%		—		—	%
Total	$	493,241		0.95	%	$	99,315		1.75	%

Yen Revolving Credit Facility (a)	$	46,943	^(e)	0.50	%	$	146,451	^(e)	0.50	%

Total borrowings	$	540,184		0.91	%	$	245,766		1.00	%

(a)

(b)

Based on exchange rates of $1.37 to £1.00, $1.22 to €1.00, $0.76 to 1.00 SGD and $0.79 to 1.00 CAD, respectively, as of December 31, 2020.

(c)

Based on exchange rates of $1.12 to €1.00, $0.70 to 1.00 AUD and $0.74 to 1.00 SGD, respectively, as of December 31, 2019.

(d)

As of December 31, 2020, approximately $60.8 million of letters of credit were issued.

(e)

Based on exchange rates of $0.01 to 1.00 JPY for December 31, 2020 and 2019.

(3)	Interest rates are based on our current senior unsecured debt ratings and is currently 100 basis points over the applicable index for floating rate advances for the 2023 Term Loan and the 2024 Term Loan.

(4)	We have entered into interest rate swap agreements as a cash flow hedge for interest generated by a portion of U.S. dollar and Canadian dollar borrowings under the 2023 Term Loan and 2024 Term Loan, and the secured note due March 2023. See Note 16. "Derivative Instruments" for further information.

(5)	Balances as of December 31, 2020 and December 31, 2019 are as follows (balances, in thousands):


	Balance as of			Weighted-		Balance as of			Weighted-
	December 31,			average		December 31,			average
Denomination of Draw	2020			interest rate		2019			interest rate
U.S. dollar ($)	$	—		—	%	$	300,000		2.74	% (d)
Singapore dollar (SGD)		150,699	(a)	1.14	%		147,931	(c)	2.68	%
Australian dollar (AUD)		223,357	(a)	1.02	%		203,820	(c)	1.85	%
Hong Kong dollar (HKD)		86,062	(a)	1.27	%		85,629	(c)	3.60	%
Canadian dollar (CAD)		77,352	(a)	1.47	% (b)		75,825	(c)	3.00	% (d)
Total	$	537,470		1.16	% (b)	$	813,205		2.62	% (d)

(a)

Based on exchange rates of $0.76 to 1.00 SGD, $0.77 to 1.00 AUD, $0.13 to 1.00 HKD and $0.79 to 1.00 CAD, respectively, as of December 31, 2020.

(b)

As of December 31, 2020, the weighted-average interest rate reflecting interest rate swaps was 1.78% (Canadian dollar) and 1.20% (Total). See Note 16 for further discussion on interest rate swaps.

(c)

Based on exchange rates of $0.74 to 1.00 SGD, $0.70 to 1.00 AUD, $0.13 to 1.00 HKD and $0.77 to 1.00 CAD, respectively, as of December 31, 2019.

(d)

(6)	Based on exchange rates of $1.22 to €1.00 as of December 31, 2020 and $1.12 to €1.00 as of December 31, 2019.

(7)	Based on exchange rates of $1.37 to £1.00 as of December 31, 2020 and $1.33 to £1.00 as of December 31, 2019.

(8)	Debt was repaid in full on April 13, 2020.

(9)	Debt was repaid in full on September 24, 2020. The payment resulted in an early extinguishment charge of approximately $0.9 million during the three months ended September 30, 2020.

(10)	The 3.950% 2022 Notes and 3.625% 2022 Notes were redeemed in full on August 3, 2020. The redemption resulted in an early extinguishment charge of approximately $52.1 million during the three months ended September 30, 2020.

(11)	The 4.750% 2023 Notes were redeemed in full on October 14, 2020. The redemption resulted in an early extinguishment charge of approximately $49.8 million during the three months ended December 31, 2020.

(12)	Debt was repaid in full on January 15, 2021.

(13)	The 2.750% 2023 Notes were redeemed in full on February 4, 2021. The redemption will result in an early extinguishment charge of approximately $17.5 million during the three months ending March 31, 2021.

Schedule of Debt Maturities and Principal Maturities

The table below summarizes our debt maturities and principal payments as of December 31, 2020 (in thousands):


	Global Revolving		Unsecured
	Credit Facilities⁽¹⁾		Term Loans⁽¹⁾		Senior Notes		Secured Debt		Total Debt
2021	$	—	$	—	$	—	$	—	$	—
2022		—		—		732,960		330		733,290
2023		493,241		537,470		350,000		104,000		1,484,711
2024		46,943		—		1,074,710		—		1,121,653
2025		—		—		1,790,840		—		1,790,840
Thereafter		—		—		8,147,519		135,000		8,282,519
Subtotal	$	540,184	$	537,470	$	12,096,029	$	239,330	$	13,413,013
Unamortized discount		—		—		(40,915)		(4)		(40,919)
Unamortized premium		—		—		5,927		—		5,927
Total	$	540,184	$	537,470	$	12,061,041	$	239,326	$	13,378,021

(1)

Income per Share (Tables)

12 Months Ended

Dec. 31, 2020

Income per Share

Summary of Basic and Diluted Earnings Per Share

The following is a summary of basic and diluted income per share (in thousands, except share and per share amounts):


	Year Ended December 31,
	2020		2019		2018
Net income available to common stockholders	$	263,342	$	493,011	$	249,930
Weighted average shares outstanding—basic		260,098,978		208,325,823		206,035,408
Potentially dilutive common shares:
Unvested incentive units		120,775		165,185		141,260
Unvested restricted stock		177,244		—		—
Forward equity offering		1,596,476		813,073		33,315
Market performance-based awards		529,035		158,166		463,488
Weighted average shares outstanding—diluted		262,522,508		209,462,247		206,673,471
Income per share:
Basic	$	1.01	$	2.37	$	1.21
Diluted	$	1.00	$	2.35	$	1.21

Schedule of Antidilutive Securities Excluded from Calculations


	Year Ended December 31,
	2020	2019	2018
Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc.	7,974,005	8,958,932	8,227,463
Potentially dilutive Series C Cumulative Redeemable Perpetual Preferred Stock	1,489,983	1,695,765	1,876,584
Potentially dilutive Series G Cumulative Redeemable Preferred Stock	1,452,809	2,102,655	2,326,861
Potentially dilutive Series H Cumulative Redeemable Preferred Stock	—	789,846	3,409,772
Potentially dilutive Series I Cumulative Redeemable Preferred Stock	1,269,035	2,105,116	2,329,584
Potentially dilutive Series J Cumulative Redeemable Preferred Stock	1,475,721	1,679,534	1,858,622
Potentially dilutive Series K Cumulative Redeemable Preferred Stock	1,551,801	1,334,691	—
Potentially dilutive Series L Cumulative Redeemable Preferred Stock	2,543,639	670,823	—
Total	17,756,993	19,337,362	20,028,886

Income per Unit (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Basic and Diluted Earnings Per Share

The following is a summary of basic and diluted income per share (in thousands, except share and per share amounts):


	Year Ended December 31,
	2020		2019		2018
Net income available to common stockholders	$	263,342	$	493,011	$	249,930
Weighted average shares outstanding—basic		260,098,978		208,325,823		206,035,408
Potentially dilutive common shares:
Unvested incentive units		120,775		165,185		141,260
Unvested restricted stock		177,244		—		—
Forward equity offering		1,596,476		813,073		33,315
Market performance-based awards		529,035		158,166		463,488
Weighted average shares outstanding—diluted		262,522,508		209,462,247		206,673,471
Income per share:
Basic	$	1.01	$	2.37	$	1.21
Diluted	$	1.00	$	2.35	$	1.21

Schedule of Antidilutive Securities Excluded from Calculations


	Year Ended December 31,
	2020	2019	2018
Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc.	7,974,005	8,958,932	8,227,463
Potentially dilutive Series C Cumulative Redeemable Perpetual Preferred Stock	1,489,983	1,695,765	1,876,584
Potentially dilutive Series G Cumulative Redeemable Preferred Stock	1,452,809	2,102,655	2,326,861
Potentially dilutive Series H Cumulative Redeemable Preferred Stock	—	789,846	3,409,772
Potentially dilutive Series I Cumulative Redeemable Preferred Stock	1,269,035	2,105,116	2,329,584
Potentially dilutive Series J Cumulative Redeemable Preferred Stock	1,475,721	1,679,534	1,858,622
Potentially dilutive Series K Cumulative Redeemable Preferred Stock	1,551,801	1,334,691	—
Potentially dilutive Series L Cumulative Redeemable Preferred Stock	2,543,639	670,823	—
Total	17,756,993	19,337,362	20,028,886

Summary of Basic and Diluted Earnings Per Share

The following is a summary of basic and diluted income per unit (in thousands, except unit and per unit amounts):


	Year Ended December 31,
	2020		2019		2018
Net income available to common unitholders	$	272,842	$	514,111	$	260,110
Weighted average units outstanding—basic		268,072,983		217,284,755		214,312,871
Potentially dilutive common units:
Unvested incentive units		120,775		165,185		141,260
Unvested restricted units		177,244		—		—
Forward equity offering		1,596,476		813,073		33,315
Market performance-based awards		529,035		158,166		463,488
Weighted average units outstanding—diluted		270,496,513		218,421,179		214,950,934
Income per unit:
Basic	$	1.02	$	2.37	$	1.21
Diluted	$	1.01	$	2.35	$	1.21

Schedule of Antidilutive Securities Excluded from Calculations

We have excluded the following potentially dilutive securities in the calculations above as they would be antidilutive or not dilutive:


	Year Ended December 31,
	2020	2019	2018
Potentially dilutive Series C Cumulative Redeemable Perpetual Preferred Units	1,489,983	1,695,765	1,876,584
Potentially dilutive Series G Cumulative Redeemable Preferred Units	1,452,809	2,102,655	2,326,861
Potentially dilutive Series H Cumulative Redeemable Preferred Units	—	789,846	3,409,772
Potentially dilutive Series I Cumulative Redeemable Preferred Units	1,269,035	2,105,116	2,329,584
Potentially dilutive Series J Cumulative Redeemable Preferred Units	1,475,721	1,679,534	1,858,622
Potentially dilutive Series K Cumulative Redeemable Preferred Units	1,551,801	1,334,691	—
Potentially dilutive Series L Cumulative Redeemable Preferred Units	2,543,639	670,823	—
Total	9,782,988	10,378,430	11,801,423

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes

Schedule of Deferred Tax Assets and Liabilities

Deferred income tax assets and liabilities as of December 31, 2020 and 2019 were as follows (in thousands):


	2020		2019
Gross deferred tax assets:
Net operating loss carryforwards	$	164,294	$	63,280
Basis difference - real estate property		748,411		9,955
Basis difference - intangibles		2,368		1,071
Straight-line rent		1,121		1,404
Other - temporary differences		60,840		17,624
Total gross deferred tax assets		977,034		93,334
Valuation allowance		(108,060)		(40,795)
Total deferred tax assets, net of valuation allowance		868,974		52,539
Gross deferred tax liabilities:
Basis difference - real estate property		1,338,612		162,095
Basis difference - equity investments		4,000		4,000
Basis difference - intangibles		246,950		1,547
Straight-line rent		6,884		8,044
Other - temporary differences		9,805		20,218
Total gross deferred tax liabilities		1,606,251		195,904
Net deferred tax liabilities	$	737,277	$	143,365

Equity and Accumulated Other Comprehensive Income (Loss), Net (Tables)

12 Months Ended

Dec. 31, 2020

Equity and Accumulated Other Comprehensive Income (Loss), Net

Schedule of redeemable preferred stock


				Total
				Liquidation		Annual		Shares Outstanding as of		Balance (in thousands, net of
	Date(s)	Initial Date to		Value (in		Dividend		December 31,		issuance costs) as of December 31,
Preferred Stock ⁽¹⁾	Issued	Redeem ⁽²⁾	Share Cap ⁽³⁾	thousands) ⁽⁴⁾		Rate ⁽⁵⁾		2020	2019	2020		2019
6.625% Series C Cumulative Redeemable Perpetual Preferred Stock	Sep 14, 2017	May 15, 2021	0.6389035	$	201,250	$	1.65625	8,050,000	8,050,000	$	219,250	$	219,250
5.875% Series G Cumulative Redeemable Preferred Stock	Apr 9, 2013	Apr 9, 2018	0.7532000		—		1.46875	—	10,000,000		—		241,468
6.350% Series I Cumulative Redeemable Preferred Stock	Aug 24, 2015	Aug 24, 2020	0.7623100		—		1.58750	—	10,000,000		—		242,012
5.250% Series J Cumulative Redeemable Preferred Stock	Aug 7, 2017	Aug 7, 2022	0.4252100		200,000		1.31250	8,000,000	8,000,000		193,540		193,540
5.850% Series K Cumulative Redeemable Preferred Stock	Mar 13, 2019	Mar 13, 2024	0.4361100		210,000		1.46250	8,400,000	8,400,000		203,264		203,264
5.200% Series L Cumulative Redeemable Preferred Stock	Oct 10, 2019	Oct 10, 2024	0.3851800		345,000		1.30000	13,800,000	13,800,000		334,886		334,886
				$	956,250			38,250,000	58,250,000	$	950,940	$	1,434,420

(1)

(2)	Except in limited circumstances, reflects earliest date that Digital Realty Trust, Inc. may exercise its option to redeem the preferred stock, at a redemption price of $25.00 per share, plus accrued and unpaid dividends up to but excluding the date of redemption.

(3)

(4)	Liquidation preference is $25.00 per share.

(5)	Dividends on preferred shares are cumulative and payable quarterly in arrears.

Ownership Interest In The Operating Partnership


	December 31, 2020			December 31, 2019
	Number of	Percentage of		Number of	Percentage of
	units	total		units	total
Digital Realty Trust, Inc.	280,289,726	97.2	%	208,900,758	95.9	%
Noncontrolling interests consist of:
Common units held by third parties	6,212,369	2.2	%	6,820,201	3.2	%
Incentive units held by employees and directors (see Note 15)	1,833,898	0.6	%	2,022,954	0.9	%
	288,335,993	100.0	%	217,743,913	100.0	%

Summary of Activity for Noncontrolling Interests in the Operating Partnership

The following table shows activity for the noncontrolling interests in the Operating Partnership for the years ended December 31, 2020, 2019 and 2018:


	Common Units	Incentive Units	Total
As of December 31, 2017	6,899,094	1,590,001	8,489,095
Common units issued in connection with the Ascenty Acquisition	2,338,874	—	2,338,874
Redemption of common units for shares of Digital Realty Trust, Inc. common stock ⁽¹⁾	(601,822)	—	(601,822)
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock ⁽¹⁾	—	(110,070)	(110,070)
Incentive units issued upon achievement of market performance condition	—	357,956	357,956
Grant of incentive units to employees and directors	—	128,986	128,986
Cancellation / forfeitures of incentive units held by employees and directors	—	(22,135)	(22,135)
As of December 31, 2018	8,636,146	1,944,738	10,580,884
Redemption of common units for shares of Digital Realty Trust, Inc. common stock ⁽¹⁾	(1,815,945)	—	(1,815,945)
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock ⁽¹⁾	—	(338,515)	(338,515)
Incentive units issued upon achievement of market performance condition	—	319,279	319,279
Grant of incentive units to employees and directors	—	120,368	120,368
Cancellation / forfeitures of incentive units held by employees and directors	—	(22,916)	(22,916)
As of December 31, 2019	6,820,201	2,022,954	8,843,155
Redemption of common units for shares of Digital Realty Trust, Inc. common stock ⁽¹⁾	(607,832)	—	(607,832)
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock ⁽¹⁾	—	(461,912)	(461,912)
Incentive units issued upon achievement of market performance condition	—	147,570	147,570
Grant of incentive units to employees and directors	—	128,049	128,049
Cancellation / forfeitures of incentive units held by employees and directors	—	(2,763)	(2,763)
As of December 31, 2020	6,212,369	1,833,898	8,046,267

(1)	These redemptions and conversions were recorded as a reduction to noncontrolling interests in the Operating Partnership and an increase to common stock and additional paid in capital based on the book value per unit in the accompanying consolidated balance sheet of Digital Realty Trust, Inc.

Schedule of Dividends

We have declared and paid the following dividends on our common and preferred stock for the years ended December 31, 2020, 2019 and 2018 (in thousands):


		Series C		Series G			Series H			Series I			Series J		Series K			Series L
		Preferred		Preferred			Preferred			Preferred			Preferred		Preferred			Preferred			Common
Date dividend declared	Dividend payment date	Stock		Stock			Stock			Stock			Stock		Stock			Stock			Stock
March 1, 2018	March 30, 2018	$	3,333	$	3,672		$	6,730		$	3,969		$	2,625	$	—		$	—		$	208,015	⁽¹⁾
May 8, 2018	June 29, 2018		3,333		3,672			6,730			3,969			2,625		—			—			208,071	⁽¹⁾
August 14, 2018	September 28, 2018		3,333		3,672			6,730			3,969			2,625		—			—			208,166	⁽¹⁾
November 12, 2018	December 31, 2018 for Preferred Stock; January 15, 2019 for Common Stock		3,333		3,672			6,730			3,969			2,625		—			—			208,415	⁽¹⁾
		$	13,332	$	14,688		$	26,920		$	15,876		$	10,500	$	—		$	—		$	832,667
February 21, 2019	March 29, 2019	$	3,333	$	3,672		$	6,730		$	3,969		$	2,625	$	—		$	—		$	224,802	⁽⁴⁾
May 13, 2019	June 28, 2019		3,333		3,672			—	⁽²⁾		3,969			2,625		3,686	⁽³⁾		—			224,895	⁽⁴⁾
August 13, 2019	September 30, 2019		3,333		3,672			—			3,969			2,625		3,071			—			225,188	⁽⁴⁾
November 19, 2019	December 31, 2019 for Preferred Stock; January 15, 2020 for Common Stock		3,333		3,672			—			3,969			2,625		3,071			4,036	⁽⁵⁾		225,488	⁽⁴⁾
		$	13,332	$	14,688		$	6,730		$	15,876		$	10,500	$	9,828		$	4,036		$	900,373

February 26, 2020	March 31, 2020	$	3,333	$	3,672		$	—		$	3,969		$	2,625	$	3,071		$	4,485		$	295,630	⁽⁸⁾
May 12, 2020	June 30, 2020		3,333		3,672			—			3,969			2,625		3,071			4,485			301,005	⁽⁸⁾
August 11, 2020	September 30, 2020		3,333		3,672			—			—	⁽⁷⁾		2,625		3,071			4,485			303,006	⁽⁸⁾
November 10, 2020	December 31, 2020 for Preferred Stock; January 15, 2021 for Common Stock		3,333		—	⁽⁶⁾		—			—			2,625		3,071			4,485			314,280	⁽⁸⁾
		$	13,332	$	11,016		$	—		$	7,938		$	10,500	$	12,284		$	17,940		$	1,213,921
Annual rate of dividend per share		$	1.65625	$	1.46875		$	1.84375		$	1.58750		$	1.31250	$	1.46250		$	1.30000

(1)	$4.040 annual rate of dividend per share.

(2)

(3)	Represents a pro rata dividend from and including the original issue date to and including June 30, 2019.

(4)	$4.320 annual rate of dividend per share.

(5)	Represents a pro rata dividend from and including the original issue date to and including December 31, 2019.

(6)

(7)

(8)	$4.480 annual rate of dividend per share.

Schedule of Accumulated Other Comprehensive Income, Net

The accumulated balances for each item within other comprehensive income (loss), net are as follows (in thousands):


	Foreign currency		Cash flow		Foreign currency net		Accumulated other
	translation		hedge		investment hedge		comprehensive
	adjustments		adjustments		adjustments		income (loss), net
Balance as of December 31, 2018	$	(158,649)	$	17,264	$	25,738	$	(115,647)
Net current period change		22,015		(8,839)		—		13,176
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		21,687		—		—		21,687
Reclassification to interest expense from interest rate swaps		—		(7,138)		—		(7,138)
Balance as of December 31, 2019	$	(114,947)	$	1,287	$	25,738	$	(87,922)
Net current period change		213,707		(11,980)		13,142		214,869
Reclassification to interest expense from interest rate swaps		—		8,063		—		8,063
Balance as of December 31, 2020	$	98,760	$	(2,630)	$	38,880	$	135,010

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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Capital and Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of redeemable preferred units


			Total
			Liquidation		Annual		Units Outstanding as		Balance (in thousands, net of
	Date(s)	Initial Date to	Value (in		Distribution		of December 31,		issuance costs) as of December 31,
Preferred Units ⁽¹⁾	Issued	Redeem ⁽²⁾	thousands) ⁽³⁾		Rate⁽⁴⁾		2020	2019	2020		2019
6.625% Series C Cumulative Redeemable Perpetual Preferred Units	Sep 14, 2017	May 15, 2021	$	201,250	$	1.65625	8,050,000	8,050,000	$	219,250	$	219,250
5.875% Series G Cumulative Redeemable Preferred Units	Apr 9, 2013	Apr 9, 2018		—		1.46875	—	10,000,000		—		241,468
6.350% Series I Cumulative Redeemable Preferred Units	Aug 24, 2015	Aug 24, 2020		—		1.58750	—	10,000,000		—		242,012
5.250% Series J Cumulative Redeemable Preferred Units	Aug 7, 2017	Aug 7, 2022		200,000		1.31250	8,000,000	8,000,000		193,540		193,540
5.850% Series K Cumulative Redeemable Preferred Units	Mar 13, 2019	Mar 13, 2024		210,000		1.46250	8,400,000	8,400,000		203,264		203,264
5.200% Series L Cumulative Redeemable Preferred Units	Oct 10, 2019	Oct 10, 2024		345,000		1.30000	13,800,000	13,800,000		334,886		334,886
			$	956,250			38,250,000	58,250,000	$	950,940	$	1,434,420

(1)

(2)

(3)	Liquidation preference is $25.00 per unit.

(4)	Distributions on preferred units are cumulative and payable quarterly in arrears.

Schedule of Distributions

We have declared and paid the following dividends on our common and preferred stock for the years ended December 31, 2020, 2019 and 2018 (in thousands):


		Series C		Series G			Series H			Series I			Series J		Series K			Series L
		Preferred		Preferred			Preferred			Preferred			Preferred		Preferred			Preferred			Common
Date dividend declared	Dividend payment date	Stock		Stock			Stock			Stock			Stock		Stock			Stock			Stock
March 1, 2018	March 30, 2018	$	3,333	$	3,672		$	6,730		$	3,969		$	2,625	$	—		$	—		$	208,015	⁽¹⁾
May 8, 2018	June 29, 2018		3,333		3,672			6,730			3,969			2,625		—			—			208,071	⁽¹⁾
August 14, 2018	September 28, 2018		3,333		3,672			6,730			3,969			2,625		—			—			208,166	⁽¹⁾
November 12, 2018	December 31, 2018 for Preferred Stock; January 15, 2019 for Common Stock		3,333		3,672			6,730			3,969			2,625		—			—			208,415	⁽¹⁾
		$	13,332	$	14,688		$	26,920		$	15,876		$	10,500	$	—		$	—		$	832,667
February 21, 2019	March 29, 2019	$	3,333	$	3,672		$	6,730		$	3,969		$	2,625	$	—		$	—		$	224,802	⁽⁴⁾
May 13, 2019	June 28, 2019		3,333		3,672			—	⁽²⁾		3,969			2,625		3,686	⁽³⁾		—			224,895	⁽⁴⁾
August 13, 2019	September 30, 2019		3,333		3,672			—			3,969			2,625		3,071			—			225,188	⁽⁴⁾
November 19, 2019	December 31, 2019 for Preferred Stock; January 15, 2020 for Common Stock		3,333		3,672			—			3,969			2,625		3,071			4,036	⁽⁵⁾		225,488	⁽⁴⁾
		$	13,332	$	14,688		$	6,730		$	15,876		$	10,500	$	9,828		$	4,036		$	900,373

February 26, 2020	March 31, 2020	$	3,333	$	3,672		$	—		$	3,969		$	2,625	$	3,071		$	4,485		$	295,630	⁽⁸⁾
May 12, 2020	June 30, 2020		3,333		3,672			—			3,969			2,625		3,071			4,485			301,005	⁽⁸⁾
August 11, 2020	September 30, 2020		3,333		3,672			—			—	⁽⁷⁾		2,625		3,071			4,485			303,006	⁽⁸⁾
November 10, 2020	December 31, 2020 for Preferred Stock; January 15, 2021 for Common Stock		3,333		—	⁽⁶⁾		—			—			2,625		3,071			4,485			314,280	⁽⁸⁾
		$	13,332	$	11,016		$	—		$	7,938		$	10,500	$	12,284		$	17,940		$	1,213,921
Annual rate of dividend per share		$	1.65625	$	1.46875		$	1.84375		$	1.58750		$	1.31250	$	1.46250		$	1.30000

(1)	$4.040 annual rate of dividend per share.

(2)

(3)	Represents a pro rata dividend from and including the original issue date to and including June 30, 2019.

(4)	$4.320 annual rate of dividend per share.

(5)	Represents a pro rata dividend from and including the original issue date to and including December 31, 2019.

(6)

(7)

(8)	$4.480 annual rate of dividend per share.

Schedule of Accumulated Other Comprehensive Income, Net

The accumulated balances for each item within other comprehensive income (loss), net are as follows (in thousands):


	Foreign currency		Cash flow		Foreign currency net		Accumulated other
	translation		hedge		investment hedge		comprehensive
	adjustments		adjustments		adjustments		income (loss), net
Balance as of December 31, 2018	$	(158,649)	$	17,264	$	25,738	$	(115,647)
Net current period change		22,015		(8,839)		—		13,176
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		21,687		—		—		21,687
Reclassification to interest expense from interest rate swaps		—		(7,138)		—		(7,138)
Balance as of December 31, 2019	$	(114,947)	$	1,287	$	25,738	$	(87,922)
Net current period change		213,707		(11,980)		13,142		214,869
Reclassification to interest expense from interest rate swaps		—		8,063		—		8,063
Balance as of December 31, 2020	$	98,760	$	(2,630)	$	38,880	$	135,010

Schedule of Distributions


		Series C		Series G			Series H			Series I			Series J		Series K			Series L
		Preferred		Preferred			Preferred			Preferred			Preferred		Preferred			Preferred			Common
Date distribution declared	Distribution payment date	Units		Units			Units			Units			Units		Units			Units			Units
Mar 1, 2018	March 30, 2018	$	3,333	$	3,672		$	6,730		$	3,969		$	2,625	$	—		$	—		$	216,953	⁽¹⁾
May 8, 2018	June 29, 2018		3,333		3,672			6,730			3,969			2,625		—			—			216,789	⁽¹⁾
Aug 14, 2018	September 28, 2018		3,333		3,672			6,730			3,969			2,625		—			—			216,825	⁽¹⁾
Nov 12, 2018	December 31, 2018 for Preferred Units; January 15, 2019 for Common Units		3,333		3,672			6,730			3,969			2,625		—			—			216,838	⁽¹⁾
		$	13,332	$	14,688		$	26,920		$	15,876		$	10,500	$	—		$	—		$	867,405
February 21, 2019	March 29, 2019	$	3,333	$	3,672		$	6,730		$	3,969		$	2,625	$	—		$	—		$	235,256	⁽⁴⁾
May 13, 2019	June 28, 2019		3,333		3,672			—	⁽²⁾		3,969			2,625		3,686	⁽³⁾		—			235,142	⁽⁴⁾
August 13, 2019	September 30, 2019		3,333		3,672			—			3,969			2,625		3,071			—			235,164	⁽⁴⁾
November 19, 2019	December 31, 2019 for Preferred Units; January 15, 2020 for Common Units		3,333		3,672			—			3,969			2,625		3,071			4,036	⁽⁵⁾		235,154	⁽⁴⁾
		$	13,332	$	14,688		$	6,730		$	15,876		$	10,500	$	9,828		$	4,036		$	940,716

February 26, 2020	March 31, 2020	$	3,333	$	3,672		$	—		$	3,969		$	2,625	$	3,071		$	4,485		$	305,267	⁽⁸⁾
May 12, 2020	June 30, 2020		3,333		3,672			—			3,969			2,625		3,071			4,485			310,421	⁽⁸⁾
August 11, 2020	September 30, 2020		3,333		3,672			—			—	⁽⁷⁾		2,625		3,071			4,485			312,262	⁽⁸⁾
November 10, 2020	December 31, 2020 for Preferred Units; January 15, 2021 for Common Units		3,333		—	⁽⁶⁾		—			—			2,625		3,071			4,485			323,453	⁽⁸⁾
		$	13,332	$	11,016		$	—		$	7,938		$	10,500	$	12,284		$	17,940		$	1,251,403

Annual rate of distribution per unit		$	1.65625	$	1.46875		$	1.84375		$	1.58750		$	1.31250	$	1.46250		$	1.30000

(1)	$4.040 annual rate of distribution per unit.

(2)

(3)	Represents a pro rata distribution from and including the original issue date to and including June 30, 2019.

(4)	$4.320 annual rate of distribution per unit.

(5)	Represents a pro rata distribution from and including the original issue date to and including December 31, 2019.

(6)	Redeemed on October 15, 2020 for $25.057118 per unit, or a redemption price of $25.00 per unit, plus accrued and unpaid distributions up to but not including the redemption date. In connection with the redemption, the previously

incurred offering costs of approximately $8.2 million were recorded as a reduction to net income available to common unitholders.

(7)

(8)	$4.480 annual rate of distribution per unit.

Schedule of Accumulated Other Comprehensive Income, Net

The accumulated balances for each item within other comprehensive income (loss) are as follows (in thousands):



	Foreign currency				Foreign currency net		Accumulated other
	translation		Cash flow hedge		investment hedge		comprehensive
	adjustments		adjustments		adjustments		income (loss)
Balance as of December 31, 2018	$	(163,531)	$	16,986	$	26,152	$	(120,393)
Net current period change		23,975		(9,232)		—		14,743
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		21,687		—		—		21,687
Reclassification to interest expense from interest rate swaps		—		(7,446)		—		(7,446)
Balance as of December 31, 2019	$	(117,869)	$	308	$	26,152	$	(91,409)
Net current period change		216,815		(12,425)		13,525		217,915
Reclassification to interest expense from interest rate swaps		—		8,294		—		8,294
Balance as of December 31, 2020	$	98,946	$	(3,823)	$	39,677	$	134,800

Incentive Plan (Tables)

12 Months Ended

Dec. 31, 2020

Incentive Plan

Schedule of Deferred Compensation

Below is a summary of our compensation expense for the years ended December 31, 2020, 2019 and 2018 and our unearned compensation as of December 31, 2020 and December 31, 2019 (in millions):


																	Expected
																	period to
	Deferred Compensation												Unearned Compensation				recognize
	Expensed						Capitalized						As of		As of		unearned
	Year Ended December 31,						Year Ended December 31,						December 31,		December 31,		compensation
Type of incentive award	2020		2019		2018		2020		2019		2018		2020		2019		(in years)
Long-term incentive units	$	12.8	$	8.7	$	6.8	$	0.2	$	0.2	$	0.2	$	15.1	$	15.4	2.1
Performance-based awards ⁽¹⁾		24.8		13.0		12.7		0.6		0.8		0.8		34.4		28.4	2.4
Restricted stock		15.1		11.5		6.1		3.2		2.8		4.2		41.5		29.1	2.3
Interxion awards		19.7		—		—		—		—		—		27.2		—	2.2

(1)

Schedule of weighted average fair value

The following table sets forth the weighted-average fair value of for each type of incentive award at the date of grant for the years ended December 31, 2020, 2019 and 2018:


	Weighted-Average Fair Value at Date of Grant
Type of incentive award	2020		2019		2018
Long-term incentive units	$	134.55	$	116.22	$	101.86
Performance-based awards		159.34		114.97		119.29
Restricted stock		138.82		115.25		100.33
Interxion awards		120.67		—		—

Summary of Long-Term Incentive Unit Activity

Below is a summary of our long-term incentive unit activity for the year ended December 31, 2020.


		Weighted-Average		Weighted-Average			Aggregate
		Grant Date Fair		Remaining Contractual			Intrinsic Value ⁽¹⁾
Unvested Long-term Incentive Units	Units	Value		Life (Years)			(in thousands)
Unvested, beginning of period	208,287	$	110.00
Granted	128,049		134.55
Vested	(98,038)		98.22
Cancelled or expired	(2,763)		112.82
Unvested, end of period	235,535	$	122.22		2.09	$	32,859

(1)	The intrinsic value is calculated based on the market value of our common stock as of December 31, 2020.

Market Performance Based Awards


			Market
	2018 / 2019	2020	Performance
	RMS Relative	RMS Relative	Vesting
Level	Market Performance	Market Performance	Percentage
Below Threshold Level	≤ -300 basis points	≤ -500 basis points	0	%
Threshold Level	-300 basis points	-500 basis points	25	%
Target Level	100 basis points	0 basis points	50	%
High Level	≥ 500 basis points	≥ 500 basis points	100	%

Schedule Of Valuation Assumptions


	Expected Stock Price		Risk-Free Interest
Award Date	Volatility		rate
January 1, 2018	22	%	1.98	%
March 1, 2018	22	%	2.34	%
March 9, 2018	22	%	2.42	%
January 1, 2019	23	%	2.44	%
February 21, 2019	23	%	2.48	%
February 19, 2020	22	%	1.39	%
February 20, 2020	22	%	1.35	%

Summary of Restricted Stock Activity

Below is a summary of our restricted stock activity for the year ended December 31, 2020.


		Weighted-Average		Weighted-Average			Aggregate
		Grant Date Fair		Remaining Contractual			Intrinsic Value ⁽²⁾
Unvested Restricted Stock	Shares	Value		Life (Years)			(in thousands)
Unvested, beginning of period	372,792	$	108.47
Granted ⁽¹⁾	831,606		126.43
Vested	(385,905)		116.19
Cancelled or expired	(35,274)		120.31
Unvested, end of period	783,219	$	123.04		2.28	$	108,797

(1)	Includes 567,810 shares issued pursuant to the converted and adjusted Interxion equity awards as part of the Interxion Combination.

(2)	The intrinsic value is calculated based on the market value of our common stock as of December 31, 2020.

Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments

Schedule of Outstanding Derivative Instruments

As of December 31, 2020 and December 31, 2019, we had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk (in thousands):


										Fair Value at Significant Other
Notional Amount										Observable Inputs (Level 2)
As of			As of							As of		As of
December 31,			December 31,			Type of	Strike	Effective	Expiration	December 31,		December 31,
2020			2019			Derivative	Rate	Date	Date	2020 ⁽³⁾		2019 ⁽³⁾
Currently-paying contracts
$	—		$	29,000	⁽¹⁾	Swap	1.016	Apr 6, 2016	Jan 6, 2021	$	—	$	175
	—			75,000	⁽¹⁾	Swap	1.164	Jan 15, 2016	Jan 15, 2021		—		345
	104,000	⁽¹⁾		300,000	⁽¹⁾	Swap	1.435	Jan 15, 2016	Jan 15, 2023		(2,773)		945
	77,352	⁽²⁾		75,825	⁽²⁾	Swap	0.779	Jan 15, 2016	Jan 15, 2021		(9)		931
$	181,352		$	479,825						$	(2,782)	$	2,396

(1)	Represents debt which bears interest based on one-month U.S. LIBOR.

(2)	Represents debt which bears interest based on one-month CDOR. Translation to U.S. dollars is based on exchange rates of $0.79 to 1.00 CAD as of December 31, 2020 and $0.77 to 1.00 CAD as of December 31, 2019.

(3)	Balance recorded in other assets in the consolidated balance sheets if positive and recorded in accounts payable and other accrued liabilities in the consolidated balance sheets if negative.

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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Estimated Fair Value And Carrying Amounts

Fair Value of Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value of Instruments


	Categorization	As of December 31, 2020				As of December 31, 2019
	under the fair value	Estimated Fair				Estimated Fair
	hierarchy	Value		Carrying Value		Value		Carrying Value
Global revolving credit facilities ⁽¹⁾⁽⁴⁾	Level 2	$	540,184	$	540,184	$	245,766	$	245,766
Unsecured term loans ⁽²⁾⁽⁴⁾	Level 2		537,470		537,470		813,205		813,205
Unsecured senior notes ⁽³⁾⁽⁴⁾	Level 2		13,359,960		12,096,029		9,697,166		9,025,229
Secured debt ⁽³⁾⁽⁴⁾	Level 2		242,051		239,326		105,245		105,143
		$	14,679,665	$	13,413,009	$	10,861,382	$	10,189,343

(1)	The carrying value of our global revolving credit facilities approximates estimated fair value, due to the variability of interest rates and the stability of our credit ratings.

(2)	The carrying value of our unsecured term loans approximates estimated fair value, due to the variability of interest rates and the stability of our credit ratings.

(3)	Valuations for our unsecured senior notes and secured debt are determined based on the expected future payments discounted at risk-adjusted rates and quoted market prices.

(4)	The carrying value excludes unamortized premiums (discounts) and deferred financing costs (see Note 9).

Quarterly Financial Information (Digital Realty Trust, Inc.) (unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information (unaudited)

Summary of Selected Quarterly Financial Data


	Three Months Ended
	December 31,		September 30,
	2020		2020		June 30, 2020		March 31, 2020
Total operating revenues	$	1,062,609	$	1,024,668	$	992,995	$	823,337
Net income (loss)		59,508		(1,454)		75,978		228,698
Net income (loss) attributable to Digital Realty Trust, Inc.		57,691		(138)		74,831		224,014
Preferred stock dividends and issuance costs associated with redeemed preferred stock		(13,514)		(37,232)		(21,155)		(21,155)
Net income (loss) available to common stockholders	$	44,177	$	(37,370)	$	53,676	$	202,859
Basic net income (loss) per share available to common stockholders	$	0.16	$	(0.14)	$	0.20	$	0.91
Diluted net income (loss) per share available to common stockholders	$	0.16	$	(0.14)	$	0.20	$	0.90


	Three Months Ended
	December 31,		September 30,
	2019		2019		June 30, 2019		March 31, 2019
Total operating revenues	$	787,463	$	806,466	$	800,797	$	814,515
Net income		349,326		67,574		61,324		120,997
Net income attributable to Digital Realty Trust, Inc.		336,284		66,497		60,168		116,812
Preferred stock dividends and issuance costs associated with redeemed preferred stock		(20,707)		(16,670)		(28,430)		(20,943)
Net income available to common stockholders	$	315,577	$	49,827	$	31,738	$	95,869
Basic net income per share available to common stockholders	$	1.51	$	0.24	$	0.15	$	0.46
Diluted net income per share available to common stockholders	$	1.50	$	0.24	$	0.15	$	0.46

Quarterly Financial Information (Digital Realty Trust, L.P.) (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Selected Quarterly Financial Data


	Three Months Ended
	December 31,		September 30,
	2020		2020		June 30, 2020		March 31, 2020
Total operating revenues	$	1,062,609	$	1,024,668	$	992,995	$	823,337
Net income (loss)		59,508		(1,454)		75,978		228,698
Net income (loss) attributable to Digital Realty Trust, Inc.		57,691		(138)		74,831		224,014
Preferred stock dividends and issuance costs associated with redeemed preferred stock		(13,514)		(37,232)		(21,155)		(21,155)
Net income (loss) available to common stockholders	$	44,177	$	(37,370)	$	53,676	$	202,859
Basic net income (loss) per share available to common stockholders	$	0.16	$	(0.14)	$	0.20	$	0.91
Diluted net income (loss) per share available to common stockholders	$	0.16	$	(0.14)	$	0.20	$	0.90


	Three Months Ended
	December 31,		September 30,
	2019		2019		June 30, 2019		March 31, 2019
Total operating revenues	$	787,463	$	806,466	$	800,797	$	814,515
Net income		349,326		67,574		61,324		120,997
Net income attributable to Digital Realty Trust, Inc.		336,284		66,497		60,168		116,812
Preferred stock dividends and issuance costs associated with redeemed preferred stock		(20,707)		(16,670)		(28,430)		(20,943)
Net income available to common stockholders	$	315,577	$	49,827	$	31,738	$	95,869
Basic net income per share available to common stockholders	$	1.51	$	0.24	$	0.15	$	0.46
Diluted net income per share available to common stockholders	$	1.50	$	0.24	$	0.15	$	0.46

Summary of Selected Quarterly Financial Data


	Three Months Ended
	December 31,		September 30,
	2020		2020		June 30, 2020		March 31, 2020
Total operating revenues	$	1,062,609	$	1,024,668	$	992,995	$	823,337
Net income (loss)		59,508		(1,454)		75,978		228,698
Net income (loss) attributable to Digital Realty Trust, L.P.		58,991		(1,138)		76,231		231,814
Preferred unit distributions and issuance costs associated with redeemed preferred units		(13,514)		(37,232)		(21,155)		(21,155)
Net income (loss) available to common unitholders	$	45,477	$	(38,370)	$	55,076	$	210,659
Basic net income (loss) per unit available to common unitholders	$	0.16	$	(0.14)	$	0.20	$	0.91
Diluted net income (loss) per unit available to common unitholders	$	0.16	$	(0.14)	$	0.20	$	0.90


	Three Months Ended
	December 31,		September 30,
	2019		2019		June 30, 2019		March 31, 2019
Total operating revenues	$	787,463	$	806,466	$	800,797	$	814,515
Net income		349,326		67,574		61,324		120,997
Net income attributable to Digital Realty Trust, L.P.		349,384		68,797		61,568		121,112
Preferred unit distributions and issuance costs associated with redeemed preferred units		(20,707)		(16,670)		(28,430)		(20,943)
Net income available to common unitholders	$	328,677	$	52,127	$	33,138	$	100,169
Basic net income per unit available to common unitholders	$	1.51	$	0.24	$	0.15	$	0.46
Diluted net income per unit available to common unitholders	$	1.50	$	0.24	$	0.15	$	0.46

Organization and Description of Business - Data Centers (Details) - property	Dec. 31, 2020	Dec. 31, 2019
Organization and Description of Business [Line Items]
Number of properties	291	225
Operating
Organization and Description of Business [Line Items]
Number of properties	248	172
Held-for-Sale Properties
Organization and Description of Business [Line Items]
Number of properties		12
Unconsolidated Joint Ventures
Organization and Description of Business [Line Items]
Number of properties	43	41
United States
Organization and Description of Business [Line Items]
Number of properties	139	147
United States \| Operating
Organization and Description of Business [Line Items]
Number of properties	123	119
United States \| Held-for-Sale Properties
Organization and Description of Business [Line Items]
Number of properties		11
United States \| Unconsolidated Joint Ventures
Organization and Description of Business [Line Items]
Number of properties	16	17
Europe
Organization and Description of Business [Line Items]
Number of properties	107	41
Europe \| Operating
Organization and Description of Business [Line Items]
Number of properties	107	41
Europe \| Operating \| InterXion
Organization and Description of Business [Line Items]
Number of properties	62
Latin America
Organization and Description of Business [Line Items]
Number of properties	22	19
Latin America \| Unconsolidated Joint Ventures
Organization and Description of Business [Line Items]
Number of properties	22	19
Asia
Organization and Description of Business [Line Items]
Number of properties	12	10
Asia \| Operating
Organization and Description of Business [Line Items]
Number of properties	7	5
Asia \| Unconsolidated Joint Ventures
Organization and Description of Business [Line Items]
Number of properties	5	5
Australia
Organization and Description of Business [Line Items]
Number of properties	6	5
Australia \| Operating
Organization and Description of Business [Line Items]
Number of properties	6	5
Africa
Organization and Description of Business [Line Items]
Number of properties	3
Africa \| Operating
Organization and Description of Business [Line Items]
Number of properties	3
Africa \| Operating \| InterXion
Organization and Description of Business [Line Items]
Number of properties	3
Canada
Organization and Description of Business [Line Items]
Number of properties	2	3
Canada \| Operating
Organization and Description of Business [Line Items]
Number of properties	2	2
Canada \| Held-for-Sale Properties
Organization and Description of Business [Line Items]
Number of properties		1
Powered Base Building \| Held-for-Sale Properties
Organization and Description of Business [Line Items]
Number of properties		10
Powered Base Building \| Held-For-Sale Properties To Third Party
Organization and Description of Business [Line Items]
Number of properties		12

Organization and Description of Business (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) property	Dec. 31, 2019 USD ($) property	Dec. 31, 2018 USD ($)	Mar. 29, 2019 USD ($)
Organization and Description of Business [Line Items]
Number of properties \| property	291	225
Payment for acquisition	$ 1,029,652	$ 75,704	$ 2,090,542
Common Interest
Organization and Description of Business [Line Items]
Ownership percentage in joint ventures	97.20%	95.90%
Preferred Interest
Organization and Description of Business [Line Items]
Ownership percentage in joint ventures	100.00%	100.00%
Brookfield Infrastructure
Organization and Description of Business [Line Items]
Investment				$ 702,000
Ownership percentage in joint ventures				49.00%
DFT Merger
Organization and Description of Business [Line Items]
Number of properties \| property	8
Corporate Joint Venture \| Brookfield Infrastructure
Organization and Description of Business [Line Items]
Investment				$ 702,000
Ownership percentage in joint ventures				49.00%

Summary of Significant Accounting Policies - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Summary of Significant Accounting Policies
Period in which short-term investment become cash equivalents	90 days
Cash and cash equivalents	$ 108,501	$ 89,817	$ 126,700
Restricted cash (included in other assets)	15,151	7,436	8,522
Total	$ 123,652	$ 97,253	$ 135,222	$ 13,181

Summary of Significant Accounting Policies - PPE (Details)	12 Months Ended
	Dec. 31, 2020
Machinery and Equipment \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	7 years
Machinery and Equipment \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	15 years
Furniture and Fixtures \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	3 years
Furniture and Fixtures \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	5 years
Buildings and Improvements \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	5 years
Buildings and Improvements \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	39 years

Summary of Significant Accounting Policies - Goodwill (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 09, 2020	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Goodwill - Beginning Balance		$ 3,363,070	$ 4,348,007
Merger/Acquisition		4,554,660
Deconsolidation		0	(967,189)
Goodwill Adjustments			(9,436)
Impact of Change in Foreign Exchange Rates		413,266	(8,312)
Goodwill - Ending Balance		8,330,996	3,363,070
Telx Acquisition
Goodwill [Roll Forward]
Goodwill - Beginning Balance		330,845	330,845
Deconsolidation		0	0
Impact of Change in Foreign Exchange Rates		0	0
Goodwill - Ending Balance		330,845	330,845
European Portfolio Acquisition
Goodwill [Roll Forward]
Goodwill - Beginning Balance		440,079	442,349
Deconsolidation		0	0
Goodwill Adjustments			(9,436)
Impact of Change in Foreign Exchange Rates		23,075	7,166
Goodwill - Ending Balance		463,154	440,079
DFT Merger
Goodwill [Roll Forward]
Goodwill - Beginning Balance		2,592,146	2,592,146
Deconsolidation		0	0
Impact of Change in Foreign Exchange Rates		0	0
Goodwill - Ending Balance		2,592,146	2,592,146
Ascenty Acquisition
Goodwill [Roll Forward]
Goodwill - Beginning Balance			982,667
Deconsolidation			(967,189)
Impact of Change in Foreign Exchange Rates			(15,478)
InterXion
Goodwill [Roll Forward]
Goodwill - Beginning Balance		0
Merger/Acquisition	$ 4,300,000	4,338,711
Deconsolidation		0
Impact of Change in Foreign Exchange Rates		380,156
Goodwill - Ending Balance	$ 4,338,711	4,718,867	0
Other Combinations
Goodwill [Roll Forward]
Goodwill - Beginning Balance		0
Merger/Acquisition		215,949
Impact of Change in Foreign Exchange Rates		10,035
Goodwill - Ending Balance		$ 225,984	$ 0

Summary of Significant Accounting Policies - Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary of Significant Accounting Policies
Interest capitalized	$ 47.3	$ 40.2	$ 34.7
Compensation costs, leasing and construction activities	53.7	46.5	39.2
Capitalized employee expenses related to leasing activities	40.8	30.8	27.2
Deferred leasing costs	272.3	291.8
Accumulated amortization, deferred leasing costs and intangibles	401.4	329.5
Amortization expense on deferred leasing costs	$ 76.0	$ 75.3
Amortization expense on deferred leasing costs			$ 72.9

Summary of Significant Accounting Policies - Marketable Equity Securities (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary Of Significant Accounting Policies [Line Items]
Unrealized loss (gain) on marketable equity security			$ 577	$ 46,492	$ 1,631
Proceeds from sale of marketable equity security	$ 70,000		70,019	0	0
Gain on sale of mark to market valuation		$ 17,900	17,883
Interest and other income (expense),
Summary Of Significant Accounting Policies [Line Items]
Unrealized loss (gain) on marketable equity security			$ 600	$ 46,500	$ 1,600

Summary of Significant Accounting Policies - Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary of Significant Accounting Policies
Unrecognized tax benefits	$ 0	$ 0
Income tax penalties and interest expense	$ 0	$ 0	$ 0

Summary of Significant Accounting Policies - Lease Accounting (Details) - USD ($) $ in Thousands	Jan. 01, 2019	Dec. 31, 2020	Dec. 31, 2019
Summary Of Significant Accounting Policies [Line Items]
Remaining future rental payments aggregate		$ 1,759,811
Operating lease liabilities		1,468,712	$ 693,539
Operating Lease, Right-of-Use Asset		1,386,959	628,681
Notes And Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
Rent receivable, net of allowance		$ 358,000	$ 186,800
ASU 2016-02
Summary Of Significant Accounting Policies [Line Items]
Lease, Practical Expedients, Package [true false]	true
Lease, Practical Expedient, Land Easement [true false]	true
Lease, Practical Expedient, Lessor Single Lease Component [true false]	true
Accumulated dividends in excess of earnings	$ 6,300
Amount reclassified from deferred rent liabilities to operating lease liabilities under ASC 842	73,300
Operating lease liabilities	757,200
Operating Lease, Right-of-Use Asset	$ 683,900

Summary of Significant Accounting Policies - Revenue Recognition and Gains (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary Of Significant Accounting Policies [Line Items]
Allowance for doubtful accounts	$ 18.8	$ 13.8
ASU 2014-09
Summary Of Significant Accounting Policies [Line Items]
Revenue recognized as a percent of total revenue	6.00%	6.00%	6.00%

Summary of Significant Accounting Policies - Segment and Geographic Information (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2020 USD ($) segment	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of operating segments \| segment									1
Number of reportable segments \| segment									1
Total operating revenues	$ 1,062,609	$ 1,024,668	$ 992,995	$ 823,337	$ 787,463	$ 806,466	$ 800,797	$ 814,515	$ 3,903,609	$ 3,209,241	$ 3,046,478
Net investments in real estate	21,731,112				15,517,684				21,731,112	15,517,684
Outside the United States
Summary Of Significant Accounting Policies [Line Items]
Total operating revenues									1,300,000	600,000	600,000
Net investments in real estate	9,300,000				3,700,000				9,300,000	3,700,000	3,800,000
United States
Summary Of Significant Accounting Policies [Line Items]
Total operating revenues									2,600,000	2,600,000	2,500,000
Net investments in real estate	$ 11,300,000				$ 10,600,000				$ 11,300,000	$ 10,600,000	$ 11,100,000

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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Business Combinations and Deconsolidation - Interxion Combination (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 09, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Land		$ 897,181
Operating lease right-of-use assets, net		1,386,959	$ 628,681
Goodwill		8,330,996	3,363,070	$ 4,348,007
Weighted average remaining intangible amortization life	20 years
Goodwill related to acquisition		4,554,660
DFT Merger
Business Acquisition [Line Items]
Goodwill		2,592,146	2,592,146	2,592,146
InterXion
Business Acquisition [Line Items]
Land	$ 190,970	190,970
Building and improvements	3,166,988	3,166,988		425,000
Construction in progress and space held for development	397,825
Operating lease right-of-use assets, net	553,987	553,987
Goodwill	4,338,711	4,718,867	$ 0
Customer relationship value and other intangibles	1,052,811	1,052,811		495,000
Debt assumed	(1,662,276)	(1,662,276)
Finance lease obligations	(47,797)	(553,987)
Operating lease liabilities	(553,987)	(47,797)
Deferred tax liability	(535,990)	(535,990)
Working capital liabilities, net	(24,738)
Total purchase consideration	6,876,504	6,876,504		1,563,830
Assumed cash and cash equivalents	108,548	108,548		$ 116,000
Total equity consideration	6,985,052
Goodwill related to acquisition	$ 4,300,000	$ 4,338,711
Acquired in-place lease value
Business Acquisition [Line Items]
Weighted average remaining intangible amortization life		5 years 8 months 12 days
Acquired below-market leases
Business Acquisition [Line Items]
Weighted average remaining intangible amortization life		15 years

Business Combinations and Deconsolidation - DFT Merger Pro Forma Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Total revenue	$ 4,051,608	$ 3,758,054
Net income available to common shareholders	323,889	267,600
Digital Realty Trust, L.P.
Business Acquisition [Line Items]
Total revenue	4,051,608	3,758,054
Net income available to common shareholders	333,389	$ 288,700
Merger related costs	65,700
Revenue associated with properties acquired	691,400
Net income associated with properties acquired	$ 59,400

Business Combinations and Deconsolidation - Ascenty Deconsolidation (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 29, 2019	Dec. 31, 2019	Dec. 31, 2020
Deconsolidation of Ascenty:
Gain on deconsolidation, net	$ 67,500	$ 67,497
Subsidiary of Operating Partnership subsidiary
Deconsolidation of Ascenty:
Ownership percentage in joint ventures	51.00%
Corporate Joint Venture
Deconsolidation of Ascenty:
Estimated fair value of JV	$ 727,000
Gain on remeasurement of retained equity interest	43,700
Foreign currency translation loss	$ 21,700
Corporate Joint Venture \| Operating Partnership
Deconsolidation of Ascenty:
Ownership percentage in joint ventures	51.00%		51.00%
Brookfield Infrastructure
Deconsolidation of Ascenty:
Equity Method Investments	$ 702,000
Ownership percentage in joint ventures	49.00%
Brookfield Infrastructure \| Corporate Joint Venture
Deconsolidation of Ascenty:
Equity Method Investments	$ 702,000
Ownership percentage in joint ventures	49.00%
Ascenty Acquisition \| Subsidiary of Operating Partnership subsidiary
Deconsolidation of Ascenty:
Ownership interest by noncontrolling interest	2.00%		2.00%

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets:
Operating lease right-of-use assets	$ 1,386,959	$ 628,681
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Operating lease right-of-use assets	Operating lease right-of-use assets
Finance lease assets	$ 181,753	$ 131,072
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Investment Building and Building Improvements	Investment Building and Building Improvements
Total leased assets	$ 1,568,712	$ 759,753
Liabilities:
Operating lease liabilities	$ 1,468,712	$ 693,539
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Operating lease liabilities	Operating lease liabilities
Finance lease liabilities	$ 233,350	$ 178,086
Finance Lease, Liability, Statement of Financial Position [Extensible List]	Accounts Payable and Accrued Liabilities	Accounts Payable and Accrued Liabilities
Total lease liabilities	$ 1,702,062	$ 871,625
Operating lease assets, accumulated depreciation and amortization	148,400	51,700
Finance lease assets, accumulated depreciation and amortization	$ 12,500	$ 4,900

Leases - Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Lease Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finance lease cost:
Amortization of right-of-use assets	$ 7,222	$ 5,074
Interest on lease liabilities	7,060	6,044
Operating lease cost	129,399	90,980
Total lease cost	$ 143,681	$ 102,098

Leases - Narrative (Details) - USD ($) $ in Millions	1 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Jul. 31, 2020	Dec. 31, 2020
Leases
Right of use assets and related lease liabilities written off	$ 24.7
Weighted average remaining lease term, operating lease		13 years
Weighted average remaining lease term, finance lease		22 years
Incremental borrowing rate, operating lease		2.80%
Incremental borrowing rate, finance lease		3.20%

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating lease liabilities
2021	$ 137,324
2022	143,183
2023	143,606
2024	144,303
2025	145,162
Thereafter	1,046,233
Total undiscounted future cash flows	1,759,811
Less: Imputed interest	(291,099)
Present value of undiscounted future cash flows	1,468,712	$ 693,539
Finance lease liabilities
2021	12,578
2022	13,099
2023	33,288
2024	12,039
2025	12,094
Thereafter	244,675
Total undiscounted future cash flows	327,773
Less: Imputed interest	(94,423)
Present value of undiscounted future cash flows	$ 233,350	$ 178,086

Leases - Minimum Lease Payments with Lease Periods Greater than One Year for Space in Operating Properties, Prestabilized Development Properties and leases of Land Subject to Ground Leases (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Future Minimum Payments Receivable on Operating Leases
2021	$ 2,874,204
2022	2,126,375
2023	1,760,337
2024	1,457,784
2025	1,155,144
Thereafter	3,907,635
Total	$ 13,281,479

Investments in Properties (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Investments in Properties
Land	$ 1,106,392	$ 804,830
Acquired ground leases	10,308	10,725
Buildings and improvements	21,335,396	15,449,884
Tenant improvements	690,892	621,153
Total investments in operating properties	23,142,988	16,886,592
Accumulated depreciation and amortization	(5,555,221)	(4,536,169)
Net Investments in Operating Properties	17,587,767	12,350,423
Construction in progress and space held for development	2,768,325	1,732,555
Land Held For Future Development	226,862	147,597
Investments in properties, net	$ 20,582,954	$ 14,230,575

Investments in Properties - Acquisitions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Investments in Properties
Purchase price	$ 830.0

Investments in Properties - Purchase Price Allocation (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 09, 2020	Dec. 31, 2020
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Land		$ 897,181
Customer relationship value and in-place leases		68,850
Working capital , net		7,224
Below market leases		(2,540)
Secured debt		(135,000)
Noncontrolling interest in consolidated joint ventures		(5,715)
Acquisition Date Fair Value		$ 830,000
Weighted average remaining intangible amortization life	20 years
Customer Relationship Value
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Weighted average remaining intangible amortization life		15 years
Acquired below-market leases
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Weighted average remaining intangible amortization life		15 years

Investments in Properties - Dispositions (Details) - Disposed of by Sale - USD ($) $ in Millions											12 Months Ended
	Jul. 17, 2020	Jan. 14, 2020	Nov. 04, 2019	Sep. 21, 2018	May 31, 2018	May 22, 2018	Apr. 19, 2018	Mar. 14, 2018	Feb. 09, 2018	Jan. 25, 2018	Dec. 31, 2020	Dec. 31, 2018	Dec. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross Proceeds											$ 584.6	$ 291.7
Gain (loss) on sale											$ 316.9	$ 80.4
Liverpoolweg 10
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross Proceeds	$ 21.5
Gain (loss) on sale	$ 10.4
Mapletree Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross Proceeds		$ 557.0	$ 996.6
Gain (loss) on sale		$ 306.5	$ 266.0
Naritaweg 52
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross Proceeds													$ 6.1
200 Quannapowitt Parkway
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross Proceeds										$ 15.0
Gain (loss) on sale										$ (0.4)
34551 Ardenwood Boulevard
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross Proceeds									$ 73.3
Gain (loss) on sale									$ 25.3
3065 Gold Camp Drive
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross Proceeds								$ 14.2
Gain (loss) on sale								5.4
11085 Sun Center Drive
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross Proceeds								36.8
Gain (loss) on sale								$ 9.1
Austin Portfolio
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross Proceeds							$ 47.6
Gain (loss) on sale							$ 12.0
2010 East Centennial Circle
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross Proceeds						$ 5.5
Gain (loss) on sale						$ (0.5)
1125 Energy Park Drive
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross Proceeds					$ 7.0
Gain (loss) on sale					$ 2.8
360 Spear Street
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross Proceeds				$ 92.3
Gain (loss) on sale				$ 26.7

Investments in Properties - Held for Sale (Details) $ in Millions		1 Months Ended
	Sep. 16, 2019 USD ($) property	Jan. 31, 2020 USD ($) property	Dec. 31, 2020 property	Dec. 31, 2019 USD ($) property
Business Acquisition [Line Items]
Number of powered base buildings	10
Number of Data Centers			291	225
Period of transitional property management services provided after closing on sale of real estate		1 year
North America
Business Acquisition [Line Items]
Number of Data Centers			125
Data Centers \| 10 Powered Base Building \| Disposal Group, Held-for-sale, Not Discontinued Operations
Business Acquisition [Line Items]
Number of properties, classified as held for sale	12			12
Purchase consideration receivable \| $	$ 557.0
Number of properties sold		12
Gain (loss) on sale \| $		$ 303.3
Data Centers \| 10 Powered Base Building \| Disposal Group, Held-for-sale, Not Discontinued Operations \| Assets Held For Sale
Business Acquisition [Line Items]
Carrying value of real estate held-for-sale \| $				$ 229.9
Data Centers \| 10 Powered Base Building \| Disposal Group, Held-for-sale, Not Discontinued Operations \| Obligations Associated With Assets Held For Sale
Business Acquisition [Line Items]
Carrying value of real estate held-for-sale \| $				$ 2.7
Data Centers \| North America
Business Acquisition [Line Items]
Number of properties, classified as held for sale	12
Unconsolidated Joint Ventures
Business Acquisition [Line Items]
Number of Data Centers			43	41
Unconsolidated Joint Ventures \| Mapletree JV
Business Acquisition [Line Items]
Number of Data Centers			3

Investments in Unconsolidated Joint Ventures - Equity Method of Accounting Presented in our Consolidated Balance Sheets (Details) $ in Thousands	Dec. 31, 2020 USD ($) property	Dec. 31, 2019 USD ($) property	Mar. 29, 2019
Schedule of Equity Method Investments [Line Items]
Number of Data Centers \| property	291	225
Noncontrolling interests in consolidated joint ventures	$ 119,659	$ 20,625
Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Number of Data Centers \| property	43	41
Investments in unconsolidated joint ventures	$ 1,148,158	$ 1,287,109
Ascenty Acquisition
Schedule of Equity Method Investments [Line Items]
Noncontrolling interests in consolidated joint ventures	$ 21,900	23,900
Ascenty Acquisition \| Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Number of Data Centers \| property	22
% Ownership	51.00%
Investments in unconsolidated joint ventures	$ 567,192	787,026
Ascenty Acquisition \| Subsidiary of Operating Partnership subsidiary
Schedule of Equity Method Investments [Line Items]
Ownership interest by noncontrolling interest	2.00%		2.00%
Mapletree JV \| Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Number of Data Centers \| property	3
% Ownership	20.00%
Investments in unconsolidated joint ventures	$ 184,890	196,181
CenturyLink \| Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Number of Data Centers \| property	1
% Ownership	50.00%
Investments in unconsolidated joint ventures	$ 86,600	88,647
Mitsubishi \| Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Number of Data Centers \| property	4
% Ownership	50.00%
Investments in unconsolidated joint ventures	$ 278,947	200,652
Other \| Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Number of Data Centers \| property	13
Investments in unconsolidated joint ventures	$ 30,529	$ 14,603

Investments in Unconsolidated Joint Ventures - Summary of Financial Information for Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Net Investment in Properties	$ 20,582,954				$ 14,230,575				$ 20,582,954	$ 14,230,575
Total Assets	36,076,291				23,068,131				36,076,291	23,068,131
Mortgage Loans	239,222				104,934				239,222	104,934
Liabilities	17,587,944				12,418,566				17,587,944	12,418,566
Equity / (Deficit)	17,717,697				9,879,312				17,717,697	9,879,312
Investments in unconsolidated joint ventures	1,148,158				1,287,109				1,148,158	1,287,109
Revenues	1,062,609	$ 1,024,668	$ 992,995	$ 823,337	787,463	$ 806,466	$ 800,797	$ 814,515	3,903,609	3,209,241	$ 3,046,478
Net income	59,508	$ (1,454)	$ 75,978	$ 228,698	349,326	$ 67,574	$ 61,324	$ 120,997	362,730	599,221	341,115
Equity in (loss) earnings of unconsolidated joint ventures									(57,629)	8,067	32,979
Unconsolidated Joint Ventures.
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated joint ventures	1,148,158				1,287,109				1,148,158	1,287,109	175,108
Equity in (loss) earnings of unconsolidated joint ventures									(57,629)	8,067	32,979
Corporate Joint Venture \| Unconsolidated Joint Ventures.
Schedule of Equity Method Investments [Line Items]
Net Investment in Properties	2,723,496				2,627,689				2,723,496	2,627,689	1,070,661
Total Assets	4,602,938				4,877,750				4,602,938	4,877,750	1,371,431
Mortgage Loans	1,316,350				1,360,384				1,316,350	1,360,384	728,338
Liabilities	1,660,303				1,680,946				1,660,303	1,680,946	876,157
Equity / (Deficit)	$ 2,942,635				$ 3,196,804				2,942,635	3,196,804	495,274
Revenues									535,241	379,600	214,815
Property Operating Expense									(208,587)	(143,143)	(75,826)
Net Operating Income									326,654	236,457	138,989
Net income									$ (135,097)	$ 8,357	$ 47,222
2001 Sixth Avenue \| Unconsolidated Joint Ventures.
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures					50.00%					50.00%	50.00%
Net Investment in Properties					$ 30,748					$ 30,748	$ 32,786
Total Assets					47,485					47,485	49,278
Mortgage Loans					134,583					134,583	134,527
Liabilities					140,354					140,354	139,569
Equity / (Deficit)					$ (92,869)					(92,869)	(90,291)
Revenues										56,266	52,806
Property Operating Expense										(19,254)	(17,264)
Net Operating Income										37,012	35,542
Net income										$ 27,422	$ 25,612
2020 Fifth Avenue \| Unconsolidated Joint Ventures.
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures	50.00%				50.00%				50.00%	50.00%	50.00%
Net Investment in Properties	$ 43,255				$ 43,918				$ 43,255	$ 43,918	$ 44,644
Total Assets	52,435				54,325				52,435	54,325	54,855
Mortgage Loans	47,748				48,000				47,748	48,000	48,000
Liabilities	48,119				48,703				48,119	48,703	48,333
Equity / (Deficit)	$ 4,316				$ 5,622				4,316	5,622	6,522
Revenues									10,107	9,868	9,417
Property Operating Expense									(2,887)	(2,544)	(2,156)
Net Operating Income									7,220	7,324	7,261
Net income									$ 4,393	$ 4,649	$ 4,689
CenturyLink \| Unconsolidated Joint Ventures.
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures	50.00%				50.00%				50.00%	50.00%	50.00%
Net Investment in Properties	$ 142,596				$ 148,941				$ 142,596	$ 148,941	$ 151,256
Total Assets	181,464				187,241				181,464	187,241	201,527
Liabilities	8,264				9,947				8,264	9,947	9,337
Equity / (Deficit)	$ 173,200				$ 177,294				173,200	177,294	192,190
Revenues									25,006	24,680	21,394
Property Operating Expense									(10,241)	(9,251)	(7,164)
Net Operating Income									14,765	15,429	14,230
Net income									$ 5,581	$ 6,712	$ 6,958
Mitsubishi \| Unconsolidated Joint Ventures.
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures	50.00%				50.00%				50.00%	50.00%	50.00%
Net Investment in Properties	$ 734,362				$ 554,828				$ 734,362	$ 554,828	$ 332,373
Total Assets	968,957				753,743				968,957	753,743	469,159
Mortgage Loans	243,911				231,046				243,911	231,046	228,075
Liabilities	358,749				303,130				358,749	303,130	285,424
Equity / (Deficit)	$ 610,208				450,613				610,208	450,613	183,735
Revenues									154,114	84,344	59,300
Property Operating Expense									(71,001)	(39,300)	(26,360)
Net Operating Income									83,113	45,044	32,940
Net income									$ 43,746	18,751	$ 15,884
Ascenty Acquisition
Schedule of Equity Method Investments [Line Items]
Mortgage Loans					$ 571,873					$ 571,873
Ascenty Acquisition \| Unconsolidated Joint Ventures.
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures	51.00%				51.00%				51.00%	51.00%
Net Investment in Properties	$ 594,322				$ 548,114				$ 594,322	$ 548,114
Total Assets	1,862,402				2,178,663				1,862,402	2,178,663
Mortgage Loans	720,623				629,500				720,623	629,500
Liabilities	833,801				764,603				833,801	764,603
Equity / (Deficit)	$ 1,028,601				$ 1,414,060				1,028,601	1,414,060
Revenues									165,680	112,052
Property Operating Expense									(60,640)	(40,250)
Net Operating Income									105,040	71,802
Net income									$ (191,161)	$ (54,606)
Mapletree JV \| Unconsolidated Joint Ventures.
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures	20.00%				20.00%				20.00%	20.00%
Net Investment in Properties	$ 723,678				$ 765,443				$ 723,678	$ 765,443
Total Assets	985,900				1,042,661				985,900	1,042,661
Liabilities	38,140				23,796				38,140	23,796
Equity / (Deficit)	$ 947,760				$ 1,018,865				947,760	1,018,865
Revenues									106,966	17,852
Property Operating Expense									(40,904)	(6,774)
Net Operating Income									66,062	11,078
Net income									$ (11,473)	$ (1,872)
PREI \| Unconsolidated Joint Ventures.
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures	20.00%				20.00%				20.00%	20.00%	20.00%
Net Investment in Properties	$ 359,706				$ 365,993				$ 359,706	$ 365,993	$ 375,016
Total Assets	409,836				421,635				409,836	421,635	433,024
Mortgage Loans	211,205				210,915				211,205	210,915	210,626
Liabilities	278,645				281,344				278,645	281,344	283,899
Equity / (Deficit)	$ 131,191				$ 140,291				131,191	140,291	149,125
Revenues									41,459	42,157	42,058
Property Operating Expense									(9,182)	(9,918)	(8,457)
Net Operating Income									32,277	32,239	33,601
Net income									$ 9,446	$ 9,968	$ (4,159)
GCEAR \| Unconsolidated Joint Ventures.
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures	20.00%				20.00%				20.00%	20.00%	20.00%
Net Investment in Properties	$ 106,316				$ 109,803				$ 106,316	$ 109,803	$ 111,909
Total Assets	117,573				127,444				117,573	127,444	139,268
Mortgage Loans	89,300				101,902				89,300	101,902	101,885
Liabilities	90,709				104,363				90,709	104,363	104,268
Equity / (Deficit)	26,864				23,081				26,864	23,081	35,000
Revenues									21,401	21,120	20,457
Property Operating Expense									(6,787)	(9,073)	(8,546)
Net Operating Income									14,614	12,047	11,911
Net income									4,642	(2,636)	$ (2,177)
Other \| Unconsolidated Joint Ventures.
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures											17.00%
Net Investment in Properties	19,261				59,901				19,261	59,901	$ 22,677
Total Assets	24,371				64,553				24,371	64,553	24,320
Mortgage Loans	3,563				4,438				3,563	4,438	5,225
Liabilities	3,876				4,706				3,876	4,706	5,327
Equity / (Deficit)	$ 20,495				$ 59,847				20,495	59,847	18,993
Revenues									10,508	11,261	9,383
Property Operating Expense									(6,945)	(6,779)	(5,879)
Net Operating Income									3,563	4,482	3,504
Net income									$ (271)	$ (31)	$ 415
Minimum \| Other \| Unconsolidated Joint Ventures.
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures					7.00%					7.00%
Maximum \| Other \| Unconsolidated Joint Ventures.
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures					17.00%					17.00%

Acquired Intangible Assets and Liabilities - Summary of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Acquired in-place lease value
Finite-Lived Intangible Assets [Line Items]
Gross amount	$ 1,382,563	$ 1,357,190
Accumulated amortization	(1,004,421)	(899,071)
Total	378,142	458,119
Customer Relationship Value
Finite-Lived Intangible Assets [Line Items]
Gross amount	2,993,093	1,845,949
Accumulated amortization	(570,886)	(400,570)
Total	2,422,207	1,445,379
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Gross amount	57,370
Accumulated amortization	(7,107)
Total	50,263
Acquired above-market leases
Finite-Lived Intangible Assets [Line Items]
Gross amount	280,216	279,048
Accumulated amortization	(236,922)	(204,233)
Total	43,294	74,815
Below-Market Leases
Finite-Lived Intangible Assets [Line Items]
Gross amount	401,539	396,509
Accumulated amortization	(270,649)	(247,735)
Total	$ 130,890	$ 148,774

Acquired Intangible Assets and Liabilities - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 09, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Amortization of acquired leases		$ (10,500)	$ (17,100)	$ (27,300)
Expected average remaining lives (in years)	20 years
Amortization of customer relationship value, acquired in-place lease value and deferred leasing costs		$ 355,841	354,302	416,621
Customer Relationship Value
Finite-Lived Intangible Assets [Line Items]
Expected average remaining lives (in years)		15 years
Amortization of customer relationship value, acquired in-place lease value and deferred leasing costs		$ 166,500	128,400	123,500
Weighted average remaining contractual life for acquired leases excluding renewals or extensions (in years)		14 years 8 months 12 days
Acquired in-place lease value
Finite-Lived Intangible Assets [Line Items]
Expected average remaining lives (in years)		5 years 8 months 12 days
Amortization of customer relationship value, acquired in-place lease value and deferred leasing costs		$ 99,700	$ 143,000	$ 211,000
Weighted average remaining contractual life for acquired leases excluding renewals or extensions (in years)		5 years 6 months
Below-Market Leases, Net of Above-Market Leases
Finite-Lived Intangible Assets [Line Items]
Expected average remaining lives of acquired below market leases (in years)		7 years 2 months 12 days
Expected average remaining lives (in years)		2 years

Acquired Intangible Assets and Liabilities - Schedule of Estimated Annual Amortization of Below Market Leases (Details) - Below-Market Leases, Net of Above-Market Leases $ in Thousands	Dec. 31, 2020 USD ($)
Finite-Lived Intangible Assets [Line Items]
2021	$ (2,865)
2022	4,977
2023	9,741
2024	10,393
2025	9,631
Thereafter	55,721
Total	$ 87,598

Acquired Intangible Assets And Liabilities - Schedule of Estimated Annual Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Acquired in-place lease value
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2021	$ 79,868
2022	60,129
2023	48,911
2024	41,604
2025	35,765
Thereafter	111,865
Total	378,142	$ 458,119
Tenant relationships
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2021	177,383
2022	176,611
2023	175,943
2024	175,363
2025	174,861
Thereafter	1,542,046
Total	$ 2,422,207

Debt of the Company (Details)	Dec. 31, 2020	Oct. 14, 2020	Dec. 31, 2019
0.125% notes due 2022 \| Digital Dutch Finco B.V.
Debt Instrument
Stated interest rate	0.125%		0.125%
2.750% notes due 2023 \| Digital Realty Trust, L.P.
Debt Instrument
Stated interest rate	2.75%		2.75%
2.625% notes due 2024 \| Digital Euro Finco, LLC
Debt Instrument
Stated interest rate	2.625%		2.625%
2.750% notes due 2024 \| Digital Stout Holding, LLC
Debt Instrument
Stated interest rate	2.75%		2.75%
4.250% notes due 2025 \| Digital Stout Holding, LLC
Debt Instrument
Stated interest rate	4.25%		4.25%
0.625% notes due 2025 \| Digital Dutch Finco B.V.
Debt Instrument
Stated interest rate	0.625%		0.625%
4.750% notes due 2025 \| Digital Realty Trust, L.P.
Debt Instrument
Stated interest rate	4.75%
4.750% notes due 2025 \| Digital Delta Holding, LLC
Debt Instrument
Stated interest rate	4.75%		4.75%
2.500% notes due 2026 \| Digital Euro Finco, LLC
Debt Instrument
Stated interest rate	2.50%		2.50%
3.700% notes due 2027 \| Digital Realty Trust, L.P.
Debt Instrument
Stated interest rate	3.70%		3.70%
1.125% notes due 2028 \| Digital Euro Finco, LLC
Debt Instrument
Stated interest rate	1.125%		1.125%
4.450% notes due 2028 \| Digital Realty Trust, L.P.
Debt Instrument
Stated interest rate	4.45%		4.45%
3.600% notes due 2029 \| Digital Realty Trust, L.P.
Debt Instrument
Stated interest rate	3.60%		3.60%
3.300% notes due 2029 \| Digital Stout Holding, LLC
Debt Instrument
Stated interest rate	3.30%		3.30%
1.500% notes due 2030 \| Digital Dutch Finco B.V.
Debt Instrument
Stated interest rate	1.50%		1.50%
3.750% notes due 2030 \| Digital Stout Holding, LLC
Debt Instrument
Stated interest rate	3.75%		3.75%
1.250% notes due 2031 \| Digital Dutch Finco B.V.
Debt Instrument
Stated interest rate	1.25%		1.25%
1.000% notes due 2032 \| Digital Dutch Finco B.V.
Debt Instrument
Stated interest rate	1.00%		1.00%
Senior Notes. \| 4.750% notes due 2023 \| Digital Realty Trust, L.P.
Debt Instrument
Stated interest rate		4.75%

Debt of the Operating Partnership - Summary of Outstanding Indebtedness (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) item	Oct. 14, 2020	Aug. 30, 2020	Dec. 31, 2019 USD ($)
Debt Instrument
Interest rate basis spread	0.90%
Digital Realty Trust, L.P.
Debt Instrument
Long-term debt, gross	$ 13,413,013
Debt Instrument, Unamortized Discount	40,919
Total indebtedness	13,304,717			$ 10,122,448
Unamortized net premiums	5,927
Long-term debt, net of discount (premium)	$ 13,378,021
Digital Realty Trust, L.P. \| 2.750% notes due 2023
Debt Instrument
Stated interest rate	2.75%			2.75%
Digital Realty Trust, L.P. \| 4.750% notes due 2025
Debt Instrument
Stated interest rate	4.75%
Digital Realty Trust, L.P. \| 3.700% notes due 2027
Debt Instrument
Stated interest rate	3.70%			3.70%
Digital Realty Trust, L.P. \| 4.450% notes due 2028
Debt Instrument
Stated interest rate	4.45%			4.45%
Digital Realty Trust, L.P. \| 3.600% notes due 2029
Debt Instrument
Stated interest rate	3.60%			3.60%
Digital Realty Trust, L.P. \| Unsecured senior notes
Debt Instrument
Debt Instrument, Unamortized Discount	$ 34,988			$ 16,145
Deferred financing costs	(64,031)			(52,038)
Total indebtedness	11,997,010			8,973,190
Long-term debt, net of discount (premium)	12,061,041			9,025,228
Digital Realty Trust, L.P. \| Unsecured senior notes \| Floating rate notes due 2022
Debt Instrument
Long-term debt, gross	$ 366,480			0
Digital Realty Trust, L.P. \| Unsecured senior notes \| Floating rate notes due 2022 \| EURIBOR
Debt Instrument
Stated interest rate	0.50%
Digital Realty Trust, L.P. \| Unsecured senior notes \| 3.950% notes due 2022
Debt Instrument
Stated interest rate	3.95%
Long-term debt, gross				500,000
Digital Realty Trust, L.P. \| Unsecured senior notes \| 3.625% notes due 2022
Debt Instrument
Stated interest rate	3.625%
Long-term debt, gross				300,000
Digital Realty Trust, L.P. \| Unsecured senior notes \| 0.125% notes due 2022
Debt Instrument
Stated interest rate	0.125%
Long-term debt, gross	$ 366,480			0
Digital Realty Trust, L.P. \| Unsecured senior notes \| 2.750% notes due 2023
Debt Instrument
Stated interest rate	2.75%
Long-term debt, gross	$ 350,000			350,000
Aggregate principal amount	$ 350,000
Digital Realty Trust, L.P. \| Unsecured senior notes \| 4.750% notes due 2023
Debt Instrument
Stated interest rate	4.75%
Long-term debt, gross				397,710
Digital Realty Trust, L.P. \| Unsecured senior notes \| 2.625% notes due 2024
Debt Instrument
Stated interest rate	2.625%
Long-term debt, gross	$ 732,960			672,780
Digital Realty Trust, L.P. \| Unsecured senior notes \| 2.750% notes due 2024
Debt Instrument
Stated interest rate	2.75%
Long-term debt, gross	$ 341,750			331,425
Digital Realty Trust, L.P. \| Unsecured senior notes \| 4.250% notes due 2025
Debt Instrument
Stated interest rate	4.25%
Long-term debt, gross	$ 546,800			530,280
Digital Realty Trust, L.P. \| Unsecured senior notes \| 0.625% notes due 2025
Debt Instrument
Stated interest rate	0.625%
Long-term debt, gross	$ 794,040			0
Digital Realty Trust, L.P. \| Unsecured senior notes \| 4.750% notes due 2025
Debt Instrument
Stated interest rate	4.75%
Long-term debt, gross	$ 450,000			450,000
Digital Realty Trust, L.P. \| Unsecured senior notes \| 2.500% notes due 2026
Debt Instrument
Stated interest rate	2.50%
Long-term debt, gross	$ 1,313,219			1,205,398
Digital Realty Trust, L.P. \| Unsecured senior notes \| 3.700% notes due 2027
Debt Instrument
Stated interest rate	3.70%
Long-term debt, gross	$ 1,000,000			1,000,000
Aggregate principal amount	$ 1,000,000
Digital Realty Trust, L.P. \| Unsecured senior notes \| 1.125% notes due 2028
Debt Instrument
Stated interest rate	1.125%
Long-term debt, gross	$ 610,800			560,650
Digital Realty Trust, L.P. \| Unsecured senior notes \| 4.450% notes due 2028
Debt Instrument
Stated interest rate	4.45%
Long-term debt, gross	$ 650,000			650,000
Aggregate principal amount	$ 650,000
Digital Realty Trust, L.P. \| Unsecured senior notes \| 3.600% notes due 2029
Debt Instrument
Stated interest rate	3.60%
Long-term debt, gross	$ 900,000			900,000
Aggregate principal amount	$ 900,000
Digital Realty Trust, L.P. \| Unsecured senior notes \| 3.300% notes due 2029
Debt Instrument
Stated interest rate	3.30%
Long-term debt, gross	$ 478,450			463,995
Digital Realty Trust, L.P. \| Unsecured senior notes \| 1.500% notes due 2030
Debt Instrument
Stated interest rate	1.50%
Long-term debt, gross	$ 916,200			0
Digital Realty Trust, L.P. \| Unsecured senior notes \| 3.750% notes due 2030
Debt Instrument
Stated interest rate	3.75%
Long-term debt, gross	$ 751,850			729,135
Digital Realty Trust, L.P. \| Unsecured senior notes \| 1.250% notes due 2031
Debt Instrument
Stated interest rate	1.25%
Long-term debt, gross	$ 610,800			0
Digital Realty Trust, L.P. \| Unsecured senior notes \| 1.000% notes due 2032
Debt Instrument
Stated interest rate	1.00%
Long-term debt, gross	$ 916,200			0
Digital Realty Trust, L.P. \| Global revolving credit facilities, net
Debt Instrument
Long-term debt, gross	540,184			245,766
Debt Instrument, Unamortized Discount	0
Deferred financing costs	(8,279)			(11,661)
Total indebtedness	531,905			234,105
Unamortized net premiums	0
Long-term debt, net of discount (premium)	$ 540,184
Interest rate basis spread	0.90%
Commitment fee percentage	0.20%
Number of extension options \| item	2
Debt instrument, extension term	6 months
Digital Realty Trust, L.P. \| Yen Revolving Credit Facility
Debt Instrument
Long-term debt, gross	$ 46,943			146,451
Interest rate basis spread	0.50%
Commitment fee percentage	0.10%
Digital Realty Trust, L.P. \| Unsecured term loans, net
Debt Instrument
Long-term debt, gross	$ 537,470
Debt Instrument, Unamortized Discount	0
Deferred financing costs	(890)			(2,986)
Total indebtedness	536,580			810,219
Unamortized net premiums	0
Long-term debt, net of discount (premium)	$ 537,470
Debt instrument, extension term	6 months
Digital Realty Trust, L.P. \| Unsecured term loans, net \| 2023 and 2024 Term Loan
Debt Instrument
Long-term debt, gross	$ 537,470			813,205
Interest rate basis spread	1.00%
Digital Realty Trust, L.P. \| Unsecured term loans, net \| 2023 Term Loan
Debt Instrument
Long-term debt, gross				300,000
Digital Realty Trust, L.P. \| Unsecured term loans, net \| 2024 Term Loan
Debt Instrument
Long-term debt, gross	$ 537,470			513,205
Digital Realty Trust, L.P. \| Senior Notes.
Debt Instrument
Long-term debt, gross	12,096,029
Debt Instrument, Unamortized Discount	40,915
Unamortized net premiums	5,927
Long-term debt, net of discount (premium)	12,061,041
Digital Realty Trust, L.P. \| Senior Notes. \| 3.950% notes due 2022
Debt Instrument
Stated interest rate			3.95%
Digital Realty Trust, L.P. \| Senior Notes. \| 3.625% notes due 2022
Debt Instrument
Stated interest rate			3.625%
Digital Realty Trust, L.P. \| Senior Notes. \| 4.750% notes due 2023
Debt Instrument
Stated interest rate		4.75%
Digital Realty Trust, L.P. \| Secured Debt
Debt Instrument
Long-term debt, gross	239,330
Debt Instrument, Unamortized Discount	4
Deferred financing costs	(104)			(209)
Total indebtedness	239,222			104,934
Unamortized discounts, net of premiums	(4)			54
Unamortized net premiums	0
Long-term debt, net of discount (premium)	$ 239,326			105,143
Digital Realty Trust, L.P. \| Secured Debt \| 731 East Trade Street
Debt Instrument
Stated interest rate	8.22%
Long-term debt, gross				1,089
Digital Realty Trust, L.P. \| Secured Debt \| Secured note due March 2023
Debt Instrument
Long-term debt, gross	$ 104,000			104,000
Digital Realty Trust, L.P. \| Secured Debt \| Secured note due March 2023 \| LIBOR
Debt Instrument
Interest rate basis spread	1.00%
Digital Realty Trust, L.P. \| Secured Debt \| Westin
Debt Instrument
Long-term debt, gross	$ 135,000			0
Digital Realty Trust, L.P. \| Secured Debt \| Secured note due December 2023 \| Base Rate
Debt Instrument
Interest rate basis spread	3.29%
Digital Realty Trust, L.P. \| Other Secured Debt
Debt Instrument
Long-term debt, gross	$ 330			$ 0

Debt of the Operating Partnership - Floating and Base Rate Borrowing (Details) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($) $ / $ $ / € $ / £ $ / $ $ / $ $ / $	Sep. 30, 2020 USD ($)	Dec. 31, 2020 USD ($) $ / $ $ / € $ / £ $ / $ $ / $ $ / $	Feb. 04, 2021	Oct. 14, 2020	Aug. 30, 2020	Dec. 31, 2019 USD ($) $ / $ $ / € $ / £ $ / $ $ / $ $ / $
Debt Instrument
Interest rate basis spread				0.90%
2.750% notes due 2023 \| Subsequent Event
Debt Instrument
Stated interest rate					2.75%
Canadian dollar (CAD) \| Unsecured term loans, net
Debt Instrument
Exchange rate \| $ / $		0.79		0.79				0.77
Digital Realty Trust, L.P.
Debt Instrument
Long-term debt, gross		$ 13,413,013		$ 13,413,013
Early extinguishment charge			$ 900
Digital Realty Trust, L.P. \| Global revolving credit facilities, net
Debt Instrument
Long-term debt, gross		$ 540,184		$ 540,184				$ 245,766
Weighted-average interest rate		0.91%		0.91%				1.00%
Interest rate basis spread				0.90%
Commitment fee percentage				0.20%
Letters of credit issued		$ 60,800		$ 60,800
Digital Realty Trust, L.P. \| Yen Revolving Credit Facility
Debt Instrument
Long-term debt, gross		$ 46,943		$ 46,943				$ 146,451
Weighted-average interest rate		0.50%		0.50%				0.50%
Interest rate basis spread				0.50%
Commitment fee percentage				0.10%
Digital Realty Trust, L.P. \| Unsecured term loans, net
Debt Instrument
Long-term debt, gross		$ 537,470		$ 537,470
Digital Realty Trust, L.P. \| Unsecured term loans, net \| Interest Rate Swap
Debt Instrument
Weighted-average interest rate								2.39%
Digital Realty Trust, L.P. \| Senior Notes.
Debt Instrument
Long-term debt, gross		12,096,029		12,096,029
Digital Realty Trust, L.P. \| Secured Debt
Debt Instrument
Long-term debt, gross		239,330		239,330
Digital Realty Trust, L.P. \| 2023 and 2024 Term Loan \| Unsecured term loans, net
Debt Instrument
Long-term debt, gross		$ 537,470		$ 537,470				$ 813,205
Weighted-average interest rate		1.16%		1.16%				2.62%
Interest rate basis spread				1.00%
Digital Realty Trust, L.P. \| 2023 and 2024 Term Loan \| Unsecured term loans, net \| Interest Rate Swap
Debt Instrument
Weighted-average interest rate		1.20%		1.20%
Digital Realty Trust, L.P. \| 3.750% notes due 2030 \| Unsecured senior notes
Debt Instrument
Long-term debt, gross		$ 751,850		$ 751,850				$ 729,135
Stated interest rate		3.75%		3.75%
Digital Realty Trust, L.P. \| 3.950% notes due 2022 \| Unsecured senior notes
Debt Instrument
Long-term debt, gross								500,000
Stated interest rate		3.95%		3.95%
Digital Realty Trust, L.P. \| 3.950% notes due 2022 \| Senior Notes.
Debt Instrument
Stated interest rate							3.95%
Digital Realty Trust, L.P. \| 3.625% notes due 2022 \| Unsecured senior notes
Debt Instrument
Long-term debt, gross								300,000
Stated interest rate		3.625%		3.625%
Digital Realty Trust, L.P. \| 3.625% notes due 2022 \| Senior Notes.
Debt Instrument
Stated interest rate							3.625%
Digital Realty Trust, L.P. \| 4.750% notes due 2023 \| Unsecured senior notes
Debt Instrument
Long-term debt, gross								$ 397,710
Stated interest rate		4.75%		4.75%
Digital Realty Trust, L.P. \| 4.750% notes due 2023 \| Senior Notes.
Debt Instrument
Early extinguishment charge		$ 49,800
Stated interest rate						4.75%
Digital Realty Trust, L.P. \| 3.950% 2022 Notes and 3.625% 2022 Notes \| Senior Notes.
Debt Instrument
Early extinguishment charge			$ 52,100
Digital Realty Trust, L.P. \| 2.750% notes due 2023
Debt Instrument
Stated interest rate		2.75%		2.75%				2.75%
Digital Realty Trust, L.P. \| 2.750% notes due 2023 \| Unsecured senior notes
Debt Instrument
Long-term debt, gross		$ 350,000		$ 350,000				$ 350,000
Stated interest rate		2.75%		2.75%
Digital Realty Trust, L.P. \| 2.750% notes due 2023 \| Senior Notes. \| Subsequent Event
Debt Instrument
Early extinguishment charge	$ 17,500
Stated interest rate					2.75%
Digital Realty Trust, L.P. \| Floating Rate \| Global revolving credit facilities, net
Debt Instrument
Long-term debt, gross		$ 493,241		$ 493,241				$ 99,315
Weighted-average interest rate		0.95%		0.95%				1.75%
Interest rate basis spread				0.90%
Digital Realty Trust, L.P. \| U.S. dollar ($) \| Unsecured term loans, net \| Interest Rate Swap
Debt Instrument
Weighted-average interest rate								2.44%
Digital Realty Trust, L.P. \| U.S. dollar ($) \| 2023 and 2024 Term Loan \| Unsecured term loans, net
Debt Instrument
Long-term debt, gross								$ 300,000
Weighted-average interest rate								2.74%
Digital Realty Trust, L.P. \| U.S. dollar ($) \| Floating Rate \| Global revolving credit facilities, net
Debt Instrument
Long-term debt, gross		$ 40,000		$ 40,000
Weighted-average interest rate		1.05%		1.05%
Digital Realty Trust, L.P. \| British pound sterling () \| Global revolving credit facilities, net
Debt Instrument
Exchange rate \| $ / £		1.37		1.37
Digital Realty Trust, L.P. \| British pound sterling () \| Unsecured senior notes
Debt Instrument
Exchange rate \| $ / £		1.37		1.37				1.33
Digital Realty Trust, L.P. \| British pound sterling () \| Floating Rate \| Global revolving credit facilities, net
Debt Instrument
Long-term debt, gross		$ 47,845		$ 47,845
Weighted-average interest rate		0.93%		0.93%
Digital Realty Trust, L.P. \| Euro () \| Global revolving credit facilities, net
Debt Instrument
Exchange rate \| $ / €		1.22		1.22				1.12
Digital Realty Trust, L.P. \| Euro () \| Unsecured senior notes
Debt Instrument
Exchange rate \| $ / €		1.22		1.22				1.12
Digital Realty Trust, L.P. \| Euro () \| Floating Rate \| Global revolving credit facilities, net
Debt Instrument
Long-term debt, gross		$ 284,633		$ 284,633				$ 44,852
Weighted-average interest rate		0.90%		0.90%				0.90%
Digital Realty Trust, L.P. \| Australian dollar (AUD) \| Global revolving credit facilities, net
Debt Instrument
Exchange rate \| $ / $								0.70
Digital Realty Trust, L.P. \| Australian dollar (AUD) \| Unsecured term loans, net
Debt Instrument
Exchange rate \| $ / $								0.70
Digital Realty Trust, L.P. \| Australian dollar (AUD) \| 2023 and 2024 Term Loan \| Unsecured term loans, net
Debt Instrument
Long-term debt, gross		$ 223,357		$ 223,357				$ 203,820
Weighted-average interest rate		1.02%		1.02%				1.85%
Digital Realty Trust, L.P. \| Australian dollar (AUD) \| Floating Rate \| Global revolving credit facilities, net
Debt Instrument
Long-term debt, gross								$ 1,264
Weighted-average interest rate								1.74%
Digital Realty Trust, L.P. \| Hong Kong dollar (HKD) \| Unsecured term loans, net
Debt Instrument
Exchange rate \| $ / $								0.13
Digital Realty Trust, L.P. \| Hong Kong dollar (HKD) \| 2023 and 2024 Term Loan \| Unsecured term loans, net
Debt Instrument
Long-term debt, gross		$ 86,062		$ 86,062				$ 85,629
Weighted-average interest rate		1.27%		1.27%				3.60%
Exchange rate \| $ / $		0.13		0.13
Digital Realty Trust, L.P. \| Japanese yen (JPY) \| Global revolving credit facilities, net
Debt Instrument
Exchange rate		0.01		0.01				0.01
Digital Realty Trust, L.P. \| Japanese yen (JPY) \| Unsecured term loans, net
Debt Instrument
Exchange rate \| $ / $		0.77		0.77
Digital Realty Trust, L.P. \| Singapore dollar (SGD) \| Global revolving credit facilities, net
Debt Instrument
Exchange rate \| $ / $		0.76		0.76				0.74
Digital Realty Trust, L.P. \| Singapore dollar (SGD) \| Unsecured term loans, net
Debt Instrument
Exchange rate \| $ / $								0.74
Digital Realty Trust, L.P. \| Singapore dollar (SGD) \| 2023 and 2024 Term Loan \| Unsecured term loans, net
Debt Instrument
Long-term debt, gross		$ 150,699		$ 150,699				$ 147,931
Weighted-average interest rate		1.14%		1.14%				2.68%
Exchange rate \| $ / $		0.76		0.76
Digital Realty Trust, L.P. \| Singapore dollar (SGD) \| Floating Rate \| Global revolving credit facilities, net
Debt Instrument
Long-term debt, gross		$ 111,340		$ 111,340				$ 53,199
Weighted-average interest rate		1.02%		1.02%				2.46%
Digital Realty Trust, L.P. \| Canadian dollar (CAD) \| Global revolving credit facilities, net
Debt Instrument
Exchange rate \| $ / $		0.79		0.79
Digital Realty Trust, L.P. \| Canadian dollar (CAD) \| Unsecured term loans, net
Debt Instrument
Exchange rate \| $ / $								0.77
Digital Realty Trust, L.P. \| Canadian dollar (CAD) \| Unsecured term loans, net \| Interest Rate Swap
Debt Instrument
Weighted-average interest rate								1.78%
Digital Realty Trust, L.P. \| Canadian dollar (CAD) \| 2023 and 2024 Term Loan \| Unsecured term loans, net
Debt Instrument
Long-term debt, gross		$ 77,352		$ 77,352				$ 75,825
Weighted-average interest rate		1.47%		1.47%				3.00%
Exchange rate \| $ / $		0.79		0.79
Digital Realty Trust, L.P. \| Canadian dollar (CAD) \| 2023 and 2024 Term Loan \| Unsecured term loans, net \| Interest Rate Swap
Debt Instrument
Weighted-average interest rate		1.78%		1.78%
Digital Realty Trust, L.P. \| Canadian dollar (CAD) \| Floating Rate \| Global revolving credit facilities, net
Debt Instrument
Long-term debt, gross		$ 9,423		$ 9,423
Weighted-average interest rate		1.36%		1.36%
Digital Stout Holding, LLC \| 3.750% notes due 2030
Debt Instrument
Stated interest rate		3.75%		3.75%				3.75%
Digital Stout Holding, LLC \| 3.750% notes due 2030 \| Unsecured senior notes
Debt Instrument
Stated interest rate		3.75%		3.75%

Debt of the Operating Partnership - Global Revolving Credit Facilities Narrative (Details) $ in Millions, ¥ in Billions	3 Months Ended	12 Months Ended
	Sep. 30, 2020 USD ($)	Dec. 31, 2020 USD ($) item	Oct. 24, 2018 JPY (¥)	Oct. 24, 2018 USD ($)	Jan. 15, 2016 USD ($)
Debt Instrument
Interest rate basis spread		0.90%
Digital Realty Trust, L.P.
Debt Instrument
Early extinguishment charge	$ 0.9
Digital Realty Trust, L.P. \| Global revolving credit facilities, net
Debt Instrument
Maximum borrowing capacity				$ 2,350.0	$ 2,000.0
Number of extension options \| item		2
Debt instrument, extension term		6 months
Interest rate basis spread		0.90%
Commitment fee percentage		0.20%
Letters of credit issued		$ 60.8
Digital Realty Trust, L.P. \| Global revolving credit facilities, net \| Accordian Feature
Debt Instrument
Maximum borrowing capacity		$ 1,250.0
Digital Realty Trust, L.P. \| Yen Revolving Credit Facility
Debt Instrument
Maximum borrowing capacity			¥ 33.3	296.5
Interest rate basis spread		0.50%
Commitment fee percentage		0.10%
Digital Realty Trust, L.P. \| Yen Revolving Credit Facility \| Accordian Feature
Debt Instrument
Maximum borrowing capacity			¥ 93.3	$ 831.1

Debt of the Operating Partnership - Unsecured Term Loans Narrative (Details) $ in Thousands		12 Months Ended
	Oct. 24, 2018 USD ($)	Dec. 31, 2020 USD ($) item	Dec. 31, 2019 USD ($)	Jan. 15, 2016 USD ($)
Debt Instrument
Interest rate basis spread		0.90%
Digital Realty Trust, L.P.
Debt Instrument
Long-term debt, gross		$ 13,413,013
Digital Realty Trust, L.P. \| Unsecured term loans, net
Debt Instrument
Debt instrument, extension term		6 months
Long-term debt, gross		$ 537,470
2023 and 2024 Term Loan \| Digital Realty Trust, L.P. \| Unsecured term loans, net
Debt Instrument
Interest rate basis spread		1.00%
Long-term debt, gross		$ 537,470	$ 813,205
Unsecured Term Loan, 5 Year \| Digital Realty Trust, L.P.
Debt Instrument
Maximum borrowing capacity	$ 300,000
Debt instrument term	5 years
Unsecured Term Loan, 7 Year \| Digital Realty Trust, L.P.
Debt Instrument
Maximum borrowing capacity	$ 512,000
Debt instrument term	5 years
Unsecured term loans, net \| Digital Realty Trust, L.P.
Debt Instrument
Maximum borrowing capacity				$ 1,550,000
Number of extension options \| item		2
Maximum borrowing capacity, subject to receipt of lender commitments and other conditions		$ 1,250,000
Interest rate basis spread		1.00%
Long-term debt, gross		$ 537,500

Debt of the Operating Partnership - Unsecured Senior Notes (Details) € in Millions, £ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)	Dec. 31, 2020 GBP (£)	Dec. 31, 2020 EUR (€)	Dec. 31, 2020 GBP (£)	Oct. 14, 2020	Aug. 30, 2020	Dec. 31, 2019
Floating Rate Notes due 2022 \| Digital Dutch Finco B.V. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Debt face amount				€ 300.0
Net proceeds from offering		€ 348.7
0.125% notes due 2022 \| Digital Dutch Finco B.V.
Debt of the Operating Partnership [Line Items]
Stated interest rate	0.125%			0.125%	0.125%			0.125%
0.125% notes due 2022 \| Digital Dutch Finco B.V. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	0.125%			0.125%	0.125%
Debt face amount				€ 300.0
Net proceeds from offering		330.8
0.125% notes due 2022 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	0.125%			0.125%	0.125%
2.750% notes due 2023 \| Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.75%			2.75%	2.75%			2.75%
2.750% notes due 2023 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.75%			2.75%	2.75%
Debt face amount \| $	$ 350.0
Net proceeds from offering \| $	$ 346.9
4.750% notes due 2023 \| Digital Realty Trust, L.P. \| Senior Notes.
Debt of the Operating Partnership [Line Items]
Stated interest rate						4.75%
4.750% notes due 2023 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.75%			4.75%	4.75%
4.750% notes due 2023 \| Digital Delta Holding, LLC \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Debt face amount \| $	$ 450.0
Net proceeds from offering \| $	$ 445.8
2.625% notes due 2024 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.625%			2.625%	2.625%
2.625% notes due 2024 \| Digital Euro Finco, LLC
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.625%			2.625%	2.625%			2.625%
2.625% notes due 2024 \| Digital Euro Finco, LLC \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.625%			2.625%	2.625%
Debt face amount				€ 600.0
Net proceeds from offering		670.3
2.750% notes due 2024 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.75%			2.75%	2.75%
2.750% notes due 2024 \| Digital Stout Holding, LLC
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.75%			2.75%	2.75%			2.75%
2.750% notes due 2024 \| Digital Stout Holding, LLC \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.75%			2.75%	2.75%
Debt face amount \| £					£ 250.0
Net proceeds from offering \| £			£ 321.3
4.250% notes due 2025 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.25%			4.25%	4.25%
4.250% notes due 2025 \| Digital Stout Holding, LLC
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.25%			4.25%	4.25%			4.25%
4.250% notes due 2025 \| Digital Stout Holding, LLC \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.25%			4.25%	4.25%
Debt face amount \| £					£ 400.0
Net proceeds from offering \| £			624.2
0.625% notes due 2025 \| Digital Dutch Finco B.V.
Debt of the Operating Partnership [Line Items]
Stated interest rate	0.625%			0.625%	0.625%			0.625%
0.625% notes due 2025 \| Digital Dutch Finco B.V. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	0.625%			0.625%	0.625%
Debt face amount				€ 650.0
Net proceeds from offering		712.0
0.625% notes due 2025 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	0.625%			0.625%	0.625%
4.750% Notes due 2025 \| Digital Delta Holding, LLC \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.75%			4.75%	4.75%
2.500% notes due 2026 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.50%			2.50%	2.50%
2.500% notes due 2026 \| Digital Euro Finco, LLC
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.50%			2.50%	2.50%			2.50%
2.500% notes due 2026 \| Digital Euro Finco, LLC \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	2.50%			2.50%	2.50%
Debt face amount				€ 1,075.0
Net proceeds from offering		1,218.6
3.700% notes due 2027 \| Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.70%			3.70%	3.70%			3.70%
3.700% notes due 2027 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.70%			3.70%	3.70%
Debt face amount \| $	$ 1,000.0
Net proceeds from offering \| $	$ 991.0
1.125% notes due 2028 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	1.125%			1.125%	1.125%
1.125% notes due 2028 \| Digital Euro Finco, LLC
Debt of the Operating Partnership [Line Items]
Stated interest rate	1.125%			1.125%	1.125%			1.125%
1.125% notes due 2028 \| Digital Euro Finco, LLC \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	1.125%			1.125%	1.125%
Debt face amount				€ 500.0
Net proceeds from offering		539.7
4.450% notes due 2028 \| Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.45%			4.45%	4.45%			4.45%
4.450% notes due 2028 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.45%			4.45%	4.45%
Debt face amount \| $	$ 650.0
Net proceeds from offering \| $	$ 643.3
3.600% notes due 2029 \| Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.60%			3.60%	3.60%			3.60%
3.600% notes due 2029 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.60%			3.60%	3.60%
Debt face amount \| $	$ 900.0
Net proceeds from offering \| $	$ 890.6
3.300% notes due 2029 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.30%			3.30%	3.30%
3.300% notes due 2029 \| Digital Stout Holding, LLC
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.30%			3.30%	3.30%			3.30%
3.300% notes due 2029 \| Digital Stout Holding, LLC \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.30%			3.30%	3.30%
Debt face amount \| £					£ 350.0
Net proceeds from offering \| £			448.6
1.500% Notes due 2030 \| Digital Dutch Finco B.V. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	1.50%			1.50%	1.50%
Debt face amount				€ 750.0
Net proceeds from offering		819.1
3.750% notes due 2030 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.75%			3.75%	3.75%
3.750% notes due 2030 \| Digital Stout Holding, LLC
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.75%			3.75%	3.75%			3.75%
3.750% notes due 2030 \| Digital Stout Holding, LLC \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.75%			3.75%	3.75%
Debt face amount \| £					£ 550.0
Net proceeds from offering \| £			£ 716.8
1.250% Notes due 2031 \| Digital Dutch Finco B.V. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	1.25%			1.25%	1.25%
Debt face amount				€ 500.0
Net proceeds from offering		553.2
1.000% Notes due 2032 \| Digital Dutch Finco B.V. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	1.00%			1.00%	1.00%
Debt face amount				€ 750.0
Net proceeds from offering		€ 860.0
3.950% notes due 2022 \| Digital Realty Trust, L.P. \| Senior Notes.
Debt of the Operating Partnership [Line Items]
Stated interest rate							3.95%
3.950% notes due 2022 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.95%			3.95%	3.95%
3.625% notes due 2022 \| Digital Realty Trust, L.P. \| Senior Notes.
Debt of the Operating Partnership [Line Items]
Stated interest rate							3.625%
3.625% notes due 2022 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	3.625%			3.625%	3.625%
4.750% notes due 2025 \| Digital Realty Trust, L.P.
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.75%			4.75%	4.75%
4.750% notes due 2025 \| Digital Realty Trust, L.P. \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.75%			4.75%	4.75%
4.750% notes due 2025 \| Digital Delta Holding, LLC
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.75%			4.75%	4.75%			4.75%
4.750% notes due 2025 \| Digital Delta Holding, LLC \| Unsecured senior notes
Debt of the Operating Partnership [Line Items]
Stated interest rate	4.75%			4.75%	4.75%

Debt of the Operating Partnership - Narrative (Details) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)	Dec. 31, 2020 EUR (€)	Dec. 31, 2019
2.500% notes due 2026 \| Digital Euro Finco, LLC
Debt Instrument
Stated interest rate	2.50%		2.50%	2.50%
3.600% notes due 2029 \| Digital Realty Trust, L.P.
Debt Instrument
Stated interest rate	3.60%		3.60%	3.60%
Unsecured senior notes \| Digital Realty Trust, L.P.
Debt Instrument
Secured debt leverage ratio, maximum	40.00%	40.00%
Unsecured senior notes \| Digital Realty Trust, L.P. \| Maximum
Debt Instrument
Leverage ratio	60.00%	60.00%
Unsecured senior notes \| Digital Realty Trust, L.P. \| Minimum
Debt Instrument
Interest coverage ratio	1.50	1.50
Total unencumbered assets	150.00%	150.00%
Unsecured senior notes \| 2.500% notes due 2026 \| Digital Realty Trust, L.P.
Debt Instrument
Stated interest rate	2.50%		2.50%
Unsecured senior notes \| 2.500% notes due 2026 \| Digital Euro Finco, LLC
Debt Instrument
Stated interest rate	2.50%		2.50%
Aggregate principal amount \| €			€ 1,075.0
Net proceeds from offering \| €		€ 1,218.6
Unsecured senior notes \| 3.600% notes due 2029 \| Digital Realty Trust, L.P.
Debt Instrument
Stated interest rate	3.60%		3.60%
Aggregate principal amount \| $	$ 900.0
Net proceeds from offering \| $	$ 890.6

Debt of the Operating Partnership - Schedule of Debt Maturities And Principal Payments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) item	Dec. 31, 2019 USD ($)
Debt Instrument
Interest rate basis spread	0.90%
Digital Realty Trust, L.P.
Debt Instrument
2022	$ 733,290
2023	1,484,711
2024	1,121,653
2025	1,790,840
Thereafter	8,282,519
Subtotal	13,413,013
Unamortized discounts, net of premiums	(40,919)
Unamortized premium	5,927
Long-term debt, net of discount (premium)	$ 13,378,021
Digital Realty Trust, L.P. \| Global revolving credit facilities, net
Debt Instrument
Interest rate basis spread	0.90%
2021	$ 0
2022	0
2023	493,241
2024	46,943
2025	0
Thereafter	0
Subtotal	540,184	$ 245,766
Unamortized discounts, net of premiums	0
Unamortized premium	0
Long-term debt, net of discount (premium)	$ 540,184
Number of extension options \| item	2
Debt instrument, extension term	6 months
Digital Realty Trust, L.P. \| Unsecured term loans, net
Debt Instrument
2021	$ 0
2022	0
2023	537,470
2024	0
2025	0
Thereafter	0
Subtotal	537,470
Unamortized discounts, net of premiums	0
Unamortized premium	0
Long-term debt, net of discount (premium)	$ 537,470
Debt instrument, extension term	6 months
Digital Realty Trust, L.P. \| Senior Notes.
Debt Instrument
2021	$ 0
2022	732,960
2023	350,000
2024	1,074,710
2025	1,790,840
Thereafter	8,147,519
Subtotal	12,096,029
Unamortized discounts, net of premiums	(40,915)
Unamortized premium	5,927
Long-term debt, net of discount (premium)	12,061,041
Digital Realty Trust, L.P. \| Secured Debt
Debt Instrument
2021	0
2022	330
2023	104,000
2024	0
2025	0
Thereafter	135,000
Subtotal	239,330
Unamortized discounts, net of premiums	(4)
Unamortized premium	0
Long-term debt, net of discount (premium)	$ 239,326	$ 105,143

Income per Share - Summary of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income per Share
Net (loss) income available to common stockholders	$ 44,177	$ (37,370)	$ 53,676	$ 202,859	$ 315,577	$ 49,827	$ 31,738	$ 95,869	$ 263,342	$ 493,011	$ 249,930
Weighted average shares outstanding-basic (shares)									260,098,978	208,325,823	206,035,408
Potentially dilutive common shares:
Unvested incentive units (shares)									120,775	165,185	141,260
Unvested restricted stock (shares)									177,244
Forward equity offering (shares)									1,596,476	813,073	33,315
Market performance-based awards (shares)									529,035	158,166	463,488
Weighted average shares/units outstanding-diluted (shares/units)									262,522,508	209,462,247	206,673,471
Earnings per unit:
Basic (in dollars per share)	$ 0.16	$ (0.14)	$ 0.20	$ 0.91	$ 1.51	$ 0.24	$ 0.15	$ 0.46	$ 1.01	$ 2.37	$ 1.21
Diluted (in dollars per share)	$ 0.16	$ (0.14)	$ 0.20	$ 0.90	$ 1.50	$ 0.24	$ 0.15	$ 0.46	$ 1.00	$ 2.35	$ 1.21

Income per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings per Share (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	17,756,993	19,337,362	20,028,886
Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc.
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	7,974,005	8,958,932	8,227,463
Series C Cumulative Redeemable Perpetual Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	1,489,983	1,695,765	1,876,584
Series G Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	1,452,809	2,102,655	2,326,861
Series H Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)		789,846	3,409,772
Series I Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	1,269,035	2,105,116	2,329,584
Series J Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	1,475,721	1,679,534	1,858,622
Series K Cumulative Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	1,551,801	1,334,691
Series L Cumulative Redeemable Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	2,543,639	670,823

Income per Unit - Summary of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock
Net (loss) income available to common stockholders	$ 44,177	$ (37,370)	$ 53,676	$ 202,859	$ 315,577	$ 49,827	$ 31,738	$ 95,869	$ 263,342	$ 493,011	$ 249,930
Weighted average units outstanding-basic (units)									260,098,978	208,325,823	206,035,408
Potentially dilutive common units:
Unvested incentive units (units)									120,775	165,185	141,260
Unvested restricted stock (units)									177,244
Forward equity offering (units)									1,596,476	813,073	33,315
Market performance-based awards (units)									529,035	158,166	463,488
Weighted average shares/units outstanding-diluted (shares/units)									262,522,508	209,462,247	206,673,471
Earnings per unit:
Basic (in dollars per unit)	$ 0.16	$ (0.14)	$ 0.20	$ 0.91	$ 1.51	$ 0.24	$ 0.15	$ 0.46	$ 1.01	$ 2.37	$ 1.21
Diluted (in dollars per unit)	$ 0.16	$ (0.14)	$ 0.20	$ 0.90	$ 1.50	$ 0.24	$ 0.15	$ 0.46	$ 1.00	$ 2.35	$ 1.21
Digital Realty Trust, L.P.
Class of Stock
Net (loss) income available to common stockholders	$ 45,477	$ (38,370)	$ 55,076	$ 210,659	$ 328,677	$ 52,127	$ 33,138	$ 100,169	$ 272,842	$ 514,111	$ 260,110
Weighted average units outstanding-basic (units)									268,072,983	217,284,755	214,312,871
Potentially dilutive common units:
Unvested incentive units (units)									120,775	165,185	141,260
Unvested restricted stock (units)									177,244
Forward equity offering (units)									1,596,476	813,073	33,315
Market performance-based awards (units)									529,035	158,166	463,488
Weighted average shares/units outstanding-diluted (shares/units)									270,496,513	218,421,179	214,950,934
Earnings per unit:
Basic (in dollars per unit)	$ 0.16	$ (0.14)	$ 0.20	$ 0.91	$ 1.51	$ 0.24	$ 0.15	$ 0.46	$ 1.02	$ 2.37	$ 1.21
Diluted (in dollars per unit)	$ 0.16	$ (0.14)	$ 0.20	$ 0.90	$ 1.50	$ 0.24	$ 0.15	$ 0.46	$ 1.01	$ 2.35	$ 1.21

Income per Unit - Schedule of Antidilutive Securities Excluded from Computation of Earnings per Share (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	17,756,993	19,337,362	20,028,886
Series L Cumulative Redeemable Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	2,543,639	670,823
Digital Realty Trust, L.P.
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	9,782,988	10,378,430	11,801,423
Digital Realty Trust, L.P. \| Series C Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	1,489,983	1,695,765	1,876,584
Digital Realty Trust, L.P. \| Series G Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	1,452,809	2,102,655	2,326,861
Digital Realty Trust, L.P. \| Potentially dilutive Series H Cumulative Redeemable Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)		789,846	3,409,772
Digital Realty Trust, L.P. \| Series I Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	1,269,035	2,105,116	2,329,584
Digital Realty Trust, L.P. \| Series J Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	1,475,721	1,679,534	1,858,622
Digital Realty Trust, L.P. \| Series K Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	1,551,801	1,334,691
Digital Realty Trust, L.P. \| Series L Cumulative Redeemable Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (units)	2,543,639	670,823

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Loss Carryforwards [Line Items]
Percentage of income distributed (at least)	100.00%
Provision for income taxes	$ 38,047	$ 11,995	$ 2,084
Net deferred tax liability	737,277	143,365
Gross deferred income tax assets:
Net operating loss carryforwards	164,294	63,280
Basis difference - real estate property	748,411	9,955
Basis difference - intangibles	2,368	1,071
Straight-line rent	1,121	1,404
Other - temporary differences	60,840	17,624
Total gross deferred income tax assets	977,034	93,334
Valuation allowance	(108,060)	(40,795)
Total deferred income tax assets, net of valuation allowance	868,974	52,539
Gross deferred income tax liabilities:
Basis difference - real estate property	1,338,612	162,095
Basis difference - equity investments	4,000	4,000
Basis difference - intangibles	246,950	1,547
Straight-line rent	6,884	8,044
Other - temporary differences	9,805	20,218
Total gross deferred income tax liabilities	1,606,251	195,904
Federal
Operating Loss Carryforwards [Line Items]
Provision for income taxes	0	0	0
Digital Realty Trust, L.P.
Operating Loss Carryforwards [Line Items]
Provision for income taxes	38,047	$ 11,995	$ 2,084
Digital Realty Trust, L.P. \| Federal
Operating Loss Carryforwards [Line Items]
Provision for income taxes	$ 0

Equity and Accumulated Other Comprehensive Income (Loss), Net - Equity Distribution Agreement Narrative (Details) - USD ($) $ / shares in Units, $ in Millions			12 Months Ended
	Jan. 01, 2021	Jan. 04, 2019	Dec. 31, 2020	Dec. 31, 2019	May 11, 2020
2019 Equity distribution agreement
Class of Stock
Proceeds from Issuance of Common Stock			$ 893.8
Sale of Stock, Price Per Share			$ 146.90
Payments of Stock Issuance Costs			$ 9.0
Common stock issued in public offering (shares)			6,100,000	0
Net proceeds		$ 652.2
2019 Equity distribution agreement \| Subsequent Event
Class of Stock
Amount of shares reserved for future issuance	$ 749.4
2020 Equity distribution agreement
Class of Stock
Aggregate offering price of the distribution agreement maximum					$ 1,000.0
Maximum \| 2020 Equity distribution agreement
Class of Stock
Aggregate offering price of the distribution agreement maximum					$ 1,000.0

Equity and Accumulated Other Comprehensive Income (Loss), Net - Forward Equity Sale (Details) - USD ($) $ in Billions	Sep. 24, 2020	Sep. 27, 2018
Forward Sale Agreement
Class of Stock
Common stock issued in public offering (shares)	9,775,000
Forward Sale Agreement \| Digital Realty Trust, L.P.
Class of Stock
Common stock issued in public offering (shares)	9,775,000	9,775,000
Net proceeds on public offering	$ 1.0
Over-Allotment Option
Class of Stock
Net proceeds on public offering	$ 1.0
Over-Allotment Option \| Digital Realty Trust, L.P.
Class of Stock
Common stock issued in public offering (shares)		1,275,000

Equity and Accumulated Other Comprehensive Income (Loss), Net - Redeemable Preferred Stock (Details) $ / shares in Units, $ in Thousands								12 Months Ended
	Oct. 10, 2019 $ / shares shares	Mar. 13, 2019 $ / shares shares	Sep. 14, 2017 $ / shares shares	Sep. 07, 2017	Aug. 07, 2017 $ / shares shares	Aug. 24, 2015 $ / shares shares	Apr. 09, 2013 $ / shares shares	Dec. 31, 2020 USD ($) item $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Oct. 15, 2020 $ / shares	Sep. 08, 2020 $ / shares	Apr. 01, 2019 $ / shares
Class of Stock
Liquidation preference \| $								$ 956,250	$ 1,456,250
Preferred stock, issued (shares) \| shares								38,250,000	58,250,000
Net proceeds from preferred stock \| $								$ 950,940	$ 1,434,420
Number of quarters with no dividends triggering voting rights \| item								6
Preferred stock, liquidation preference per share (in dollars per share)								$ 25.00	$ 25.00
Preferred Stock, Redemption Price Per Share								$ 25.00
Series C Cumulative Redeemable Perpetual Preferred Stock
Class of Stock
Share cap (in shares) \| shares			0.6389035
Liquidation preference \| $								$ 201,250
Preferred stock dividend per share amount (in dollars per share)			$ 1.65625					$ 1.65625
Preferred stock, issued (shares) \| shares								8,050,000	8,050,000
Net proceeds from preferred stock \| $								$ 219,250	$ 219,250
Dividend rate percentage			6.625%
Series G Cumulative Redeemable Preferred Stock
Class of Stock
Share cap (in shares) \| shares							0.7532000
Preferred stock dividend per share amount (in dollars per share)							$ 1.46875	$ 1.46875
Preferred stock, issued (shares) \| shares									10,000,000
Net proceeds from preferred stock \| $									$ 241,468
Preferred stock, liquidation preference per share (in dollars per share)										$ 25.057118
Dividend rate percentage							5.875%
Preferred Stock, Redemption Price Per Share										25.00
Series H Cumulative Redeemable Preferred Stock
Class of Stock
Preferred stock dividend per share amount (in dollars per share)								1.84375
Preferred Stock, Redemption Price Per Share												$ 25.00
Series I Cumulative Redeemable Preferred Stock
Class of Stock
Share cap (in shares) \| shares						0.7623100
Preferred stock dividend per share amount (in dollars per share)						$ 1.58750		$ 1.58750
Preferred stock, issued (shares) \| shares									10,000,000
Net proceeds from preferred stock \| $									$ 242,012
Preferred stock, liquidation preference per share (in dollars per share)											$ 25.29545
Dividend rate percentage						6.35%
Preferred Stock, Redemption Price Per Share											25.00
Series J Cumulative Redeemable Preferred Stock
Class of Stock
Share cap (in shares) \| shares					0.4252100
Liquidation preference \| $								$ 200,000
Preferred stock dividend per share amount (in dollars per share)					$ 1.31250			$ 1.31250
Preferred stock, issued (shares) \| shares								8,000,000	8,000,000
Net proceeds from preferred stock \| $								$ 193,540	$ 193,540
Dividend rate percentage					5.25%
Series K Cumulative Redeemable Preferred Stock
Class of Stock
Share cap (in shares) \| shares		0.4361100
Liquidation preference \| $								$ 210,000
Preferred stock dividend per share amount (in dollars per share)								$ 1.46250
Preferred stock, issued (shares) \| shares								8,400,000	8,400,000
Net proceeds from preferred stock \| $								$ 203,264	$ 203,264
Dividend rate percentage		5.85%
Series L Cumulative Redeemable Preferred Units
Class of Stock
Share cap (in shares) \| shares	0.3851800
Liquidation preference \| $								$ 345,000
Preferred stock dividend per share amount (in dollars per share)								$ 1.30000
Preferred stock, issued (shares) \| shares								13,800,000	13,800,000
Net proceeds from preferred stock \| $								$ 334,886	$ 334,886
Dividend rate percentage	5.20%
Series C Preferred Units
Class of Stock
Liquidation preference \| $								$ 201,250
Preferred stock dividend per share amount (in dollars per share)			$ 1.65625
Preferred stock, issued (shares) \| shares								8,050,000	8,050,000
Net proceeds from preferred stock \| $								$ 219,250	$ 219,250
Dividend rate percentage			6.625%
Series G Preferred Units
Class of Stock
Preferred stock dividend per share amount (in dollars per share)							$ 1.46875
Preferred stock, issued (shares) \| shares									10,000,000
Net proceeds from preferred stock \| $									$ 241,468
Preferred stock, liquidation preference per share (in dollars per share)										25.00
Dividend rate percentage							5.875%
Preferred Stock, Redemption Price Per Share										$ 25.057118
Series I Preferred Units
Class of Stock
Preferred stock dividend per share amount (in dollars per share)						$ 1.58750
Preferred stock, issued (shares) \| shares									10,000,000
Net proceeds from preferred stock \| $									$ 242,012
Preferred stock, liquidation preference per share (in dollars per share)											25.00
Dividend rate percentage					6.35%
Preferred Stock, Redemption Price Per Share											$ 25.29545
Series J Preferred Units
Class of Stock
Liquidation preference \| $								$ 200,000
Preferred stock dividend per share amount (in dollars per share)					$ 1.31250
Preferred stock, issued (shares) \| shares								8,000,000	8,000,000
Net proceeds from preferred stock \| $								$ 193,540	$ 193,540
Dividend rate percentage				5.25%
Series K Preferred Units
Class of Stock
Liquidation preference \| $								$ 210,000
Preferred stock dividend per share amount (in dollars per share)		$ 1.46250
Preferred stock, issued (shares) \| shares								8,400,000	8,400,000
Net proceeds from preferred stock \| $								$ 203,264	$ 203,264
Dividend rate percentage		5.85%
Series L Preferred Units
Class of Stock
Liquidation preference \| $								$ 345,000
Preferred stock dividend per share amount (in dollars per share)	$ 1.30000
Preferred stock, issued (shares) \| shares								13,800,000	13,800,000
Net proceeds from preferred stock \| $								$ 334,886	$ 334,886
Dividend rate percentage	5.20%

Equity and Accumulated Other Comprehensive Income (Loss), Net - Noncontrolling Interests in Operating Partnership (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Class of Stock
Number of units (units)	280,289,726	208,900,758
Percentage of total	97.20%	95.90%
Common stock conversion ratio	1
Digital Realty Trust, L.P.
Class of Stock
Common stock conversion ratio	1
Redeemable noncontrolling interests - operating partnership	$ 1,078.9	$ 997.6
Common units held by third parties
Class of Stock
Common units held by third parties (units)	6,212,369	6,820,201
Percentage of total	2.20%	3.20%
Incentive units held by employees and directors (see Note 14)
Class of Stock
Incentive units held by employees and directors (units)	1,833,898	2,022,954
Percentage of total	0.60%	0.90%
Noncontrolling Interests in Operating Partnership
Class of Stock
Number of units (units)	288,335,993	217,743,913
Percentage of total	100.00%	100.00%

Equity and Accumulated Other Comprehensive Income (Loss), Net - Summary of Activity For Noncontrolling Interests in The Operating Partnership (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Common and Incentive Unit Activity [Roll Forward]
Beginning balance (units)	8,843,155	10,580,884	8,489,095
Issuance of common stock, net of offering costs (shares)			2,338,874
Redemption of common units for shares of Digital Realty Trust, Inc. common stock (units)	(607,832)	(1,815,945)	(601,822)
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (units)	(461,912)	(338,515)	(110,070)
Incentive units issued upon achievement of market performance condition (units)	147,570	319,279	357,956
Grant of incentive units to employees and directors (units)	128,049	120,368	128,986
Cancellation / forfeitures of incentive units held by employees and directors (units)	(2,763)	(22,916)	(22,135)
Ending balance (units)	8,046,267	8,843,155	10,580,884
Common Units
Common and Incentive Unit Activity [Roll Forward]
Beginning balance (units)	6,820,201	8,636,146	6,899,094
Issuance of common stock, net of offering costs (shares)			2,338,874
Redemption of common units for shares of Digital Realty Trust, Inc. common stock (units)	(607,832)	(1,815,945)	(601,822)
Ending balance (units)	6,212,369	6,820,201	8,636,146
Incentive Units
Common and Incentive Unit Activity [Roll Forward]
Beginning balance (units)	2,022,954	1,944,738	1,590,001
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (units)	(461,912)	(338,515)	(110,070)
Incentive units issued upon achievement of market performance condition (units)	147,570	319,279	357,956
Grant of incentive units to employees and directors (units)	128,049	120,368	128,986
Cancellation / forfeitures of incentive units held by employees and directors (units)	(2,763)	(22,916)	(22,135)
Ending balance (units)	1,833,898	2,022,954	1,944,738

Equity and Accumulated Other Comprehensive Income (Loss), Net - Schedule of Accumulated Other Comprehensive Loss, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 10,608,100	$ 10,858,210
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		21,687
Ending balance	18,446,336	10,608,100
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(114,947)	(158,649)
Net current period change	213,707	22,015
Reclassification to interest expense from interest rate swaps	0	0
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		21,687
Ending balance	98,760	(114,947)
Cash flow hedge adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	1,287	17,264
Net current period change	(11,980)	(8,839)
Reclassification to interest expense from interest rate swaps	8,063	(7,138)
Ending balance	(2,630)	1,287
Foreign currency net investment hedge adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	25,738	25,738
Net current period change	13,142	0
Reclassification to interest expense from interest rate swaps	0	0
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		0
Ending balance	38,880	25,738
Accumulated other comprehensive income (loss), net
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(87,922)	(115,647)
Net current period change	214,869	13,176
Reclassification to interest expense from interest rate swaps	8,063	(7,138)
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		21,687
Ending balance	$ 135,010	$ (87,922)

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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Capital and Accumulated Other Comprehensive Income (Loss) - Equity Distribution Agreement Narrative (Details) - USD ($) $ / shares in Units, $ in Millions			12 Months Ended
	Jan. 01, 2021	Jan. 04, 2019	Dec. 31, 2020	Dec. 31, 2019	May 11, 2020
2019 Equity distribution agreement
Class of Stock [Line Items]
Proceeds from Issuance of Common Stock			$ 893.8
Sale of Stock, Price Per Share			$ 146.90
Payments of Stock Issuance Costs			$ 9.0
Common stock issued in public offering (shares)			6,100,000	0
Net proceeds		$ 652.2
Shares issued , contribution to operating partnership			6,100,000
2019 Equity distribution agreement \| Subsequent Event
Class of Stock [Line Items]
Amount of shares reserved for future issuance	$ 749.4
2020 Equity distribution agreement
Class of Stock [Line Items]
Aggregate offering price of the distribution agreement maximum					$ 1,000.0

Capital and Accumulated Other Comprehensive Income (Loss) - Forward Equity Sale (Details) - USD ($) $ in Billions	Sep. 24, 2020	Sep. 27, 2018	Dec. 31, 2020	Dec. 31, 2019
Digital Realty Trust, L.P.
Class of Stock
Partnership units issued			8,046,267	8,843,155
Forward Sale Agreement
Class of Stock
Common stock issued in public offering (shares)	9,775,000
Partnership units issued	9,775,000
Forward Sale Agreement \| Digital Realty Trust, L.P.
Class of Stock
Common stock issued in public offering (shares)	9,775,000	9,775,000
Net proceeds on public offering	$ 1.0
Over-Allotment Option
Class of Stock
Net proceeds on public offering	$ 1.0
Over-Allotment Option \| Digital Realty Trust, L.P.
Class of Stock
Common stock issued in public offering (shares)		1,275,000

Capital and Accumulated Other Comprehensive Income (Loss) - Redeemable Preferred Units (Details) - USD ($) $ / shares in Units, $ in Thousands								12 Months Ended
	Oct. 10, 2019	Mar. 13, 2019	Sep. 14, 2017	Sep. 07, 2017	Aug. 07, 2017	Aug. 24, 2015	Apr. 09, 2013	Dec. 31, 2020	Dec. 31, 2019	Oct. 15, 2020	Sep. 08, 2020	Apr. 01, 2019
Preferred Units [Line Items]
Liquidation preference								$ 956,250	$ 1,456,250
Balance (in thousands, net of issuance costs) as of December 31,								$ 950,940	$ 1,434,420
Preferred stock, liquidation preference per share/unit (in dollars per unit)								$ 25.00	$ 25.00
Preferred Stock, Redemption Price Per Share								$ 25.00
Series C Preferred Units
Preferred Units [Line Items]
Liquidation preference								$ 201,250
Preferred stock dividend per share amount (in dollars per share)			$ 1.65625
Balance (in thousands, net of issuance costs) as of December 31,								219,250	$ 219,250
Dividend rate percentage			6.625%
Series G Preferred Units
Preferred Units [Line Items]
Preferred stock dividend per share amount (in dollars per share)							$ 1.46875
Balance (in thousands, net of issuance costs) as of December 31,									241,468
Preferred stock, liquidation preference per share/unit (in dollars per unit)										$ 25.00
Dividend rate percentage							5.875%
Preferred Stock, Redemption Price Per Share										$ 25.057118
Potentially dilutive Series H Cumulative Redeemable Preferred Units
Preferred Units [Line Items]
Preferred stock, liquidation preference per share/unit (in dollars per unit)												$ 25.00
Preferred Stock, Redemption Price Per Share												$ 25.00
Series I Preferred Units
Preferred Units [Line Items]
Preferred stock dividend per share amount (in dollars per share)						$ 1.58750
Balance (in thousands, net of issuance costs) as of December 31,									242,012
Preferred stock, liquidation preference per share/unit (in dollars per unit)											$ 25.00
Dividend rate percentage					6.35%
Preferred Stock, Redemption Price Per Share											$ 25.29545
Series J Preferred Units
Preferred Units [Line Items]
Liquidation preference								200,000
Preferred stock dividend per share amount (in dollars per share)					$ 1.31250
Balance (in thousands, net of issuance costs) as of December 31,								193,540	193,540
Dividend rate percentage				5.25%
Series K Preferred Units
Preferred Units [Line Items]
Liquidation preference								210,000
Preferred stock dividend per share amount (in dollars per share)		$ 1.46250
Balance (in thousands, net of issuance costs) as of December 31,								203,264	203,264
Dividend rate percentage		5.85%
Series L Preferred Units
Preferred Units [Line Items]
Liquidation preference								345,000
Preferred stock dividend per share amount (in dollars per share)	$ 1.30000
Balance (in thousands, net of issuance costs) as of December 31,								$ 334,886	$ 334,886
Dividend rate percentage	5.20%

Capital and Accumulated Other Comprehensive Income (Loss) - Partnership Units Narrative (Details) $ in Millions	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Class of Stock
Common Stock, Conversion Ratio	1
Digital Realty Trust, L.P.
Class of Stock
Common Stock, Conversion Ratio	1
Redeemable noncontrolling interests - operating partnership	$ 1,078.9	$ 997.6
Redeemable noncontrolling interests - operating partnership	$ 1,078.9	$ 997.6

Capital and Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		$ 21,687
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Net current period change	$ 213,707	22,015
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		21,687
Reclassification to interest expense from interest rate swaps	0	0
Cash flow hedge adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Net current period change	(11,980)	(8,839)
Reclassification to interest expense from interest rate swaps	8,063	(7,138)
Foreign currency net investment hedge adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Net current period change	13,142	0
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		0
Reclassification to interest expense from interest rate swaps	0	0
Accumulated other comprehensive income (loss), net
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Net current period change	214,869	13,176
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		21,687
Reclassification to interest expense from interest rate swaps	8,063	(7,138)
Digital Realty Trust, L.P.
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	10,608,100	10,858,210
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		21,687
Ending balance	18,446,336	10,608,100
Digital Realty Trust, L.P. \| Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(117,869)	(163,531)
Net current period change	216,815	23,975
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		21,687
Reclassification to interest expense from interest rate swaps	0	0
Ending balance	98,946	(117,869)
Digital Realty Trust, L.P. \| Cash flow hedge adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	308	16,986
Net current period change	(12,425)	(9,232)
Reclassification to interest expense from interest rate swaps	8,294	(7,446)
Ending balance	(3,823)	308
Digital Realty Trust, L.P. \| Foreign currency net investment hedge adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	26,152	26,152
Net current period change	13,525	0
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		0
Reclassification to interest expense from interest rate swaps	0	0
Ending balance	39,677	26,152
Digital Realty Trust, L.P. \| Accumulated other comprehensive income (loss), net
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(91,409)	(120,393)
Net current period change	217,915	14,743
Reclassification of foreign currency translation adjustment due to deconsolidation of Ascenty		21,687
Reclassification to interest expense from interest rate swaps	8,294	(7,446)
Ending balance	$ 134,800	$ (91,409)

Incentive Plan - Narrative (Details) shares in Millions			12 Months Ended
Incentive Plan - Narrative (Details) shares in Millions	Mar. 09, 2020 shares	Sep. 22, 2017 shares	Dec. 31, 2020 shares
InterXion
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares registered for issuance (shares)	0.6
2014 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares registered for issuance (shares)		3.7
Number of shares remaining for issuance under Incentive Plan (shares)			6.0
Conversion of units to shares ratio			1

Incentive Plan - Schedule of Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Granted (shares)	128,049	120,368	128,986
Long-term incentive units
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Deferred compensation, expensed	$ 12.8	$ 8.7	$ 6.8
Deferred compensation, capitalized	0.2	0.2	0.2
Unearned Compensation	$ 15.1	$ 15.4
Expected period to recognize unearned compensation (in years)	2 years 1 month 6 days	2 years 1 month 6 days
Granted (shares)	128,049
Vesting of restricted common units, net (units)	98,038
Long-term incentive units \| Minimum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award vesting period	2 years
Long-term incentive units \| Maximum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award vesting period	4 years
Market performance-based awards
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Deferred compensation, expensed	$ 24.8	$ 13.0	12.7
Deferred compensation, capitalized	0.6	0.8	0.8
Unearned Compensation	$ 34.4	$ 28.4
Expected period to recognize unearned compensation (in years)	2 years 4 months 24 days	2 years 4 months 24 days
Market performance-based awards \| Minimum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award vesting period	2 years
Market performance-based awards \| Maximum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award vesting period	3 years
Restricted stock
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Deferred compensation, expensed	$ 15.1	$ 11.5	6.1
Deferred compensation, capitalized	3.2	2.8	$ 4.2
Unearned Compensation	$ 41.5	$ 29.1
Expected period to recognize unearned compensation (in years)	2 years 3 months 18 days	2 years 3 months 18 days
Vesting of restricted common units, net (units)	385,905
Award vesting period	4 years
Interxion awards
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Deferred compensation, expensed	$ 19.7
Unearned Compensation	$ 27.2
Expected period to recognize unearned compensation (in years)	2 years 2 months 12 days	2 years 2 months 12 days
Granted (shares)	567,810
Performance-based Class D Units
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Granted (shares)	58,561
Performance-based restricted stock units
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Granted (shares)	6,148
Time-based profits interest units
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Granted (shares)	22,426
Time-based restricted stock units
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Granted (shares)	3,209

Incentive Plan - Summary of Long-Term Incentive Units (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Units
Granted (shares)	128,049	120,368	128,986
Long-term incentive units
Units
Unvested beginning of period (shares)	208,287
Granted (shares)	128,049
Vested (shares)	(98,038)
Cancelled or expired (shares)	(2,763)
Unvested end of period (shares)	235,535	208,287
Weighted-Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share)	$ 110.00
Granted (in dollars per share)	134.55	$ 116.22	$ 101.86
Vested (in dollars per share)	98.22
Cancelled or expired (in dollars per share)	112.82
Unvested, end of period (in dollars per share)	$ 122.22	$ 110.00
Weighted-Average Remaining Contractual Life (Years)	2 years 1 month 2 days
Aggregate Intrinsic Value	$ 32,859
Intrinsic value of units	$ 11,600	$ 5,700	$ 4,200
Units outstanding and exercisable	900,000
Intrinsic value of units outstanding and exercisable	$ 122,000
Long-term incentive units \| Minimum
Weighted-Average Grant Date Fair Value
Award vesting period	2 years
Long-term incentive units \| Maximum
Weighted-Average Grant Date Fair Value
Award vesting period	4 years
Market performance-based awards
Weighted-Average Grant Date Fair Value
Granted (in dollars per share)	$ 159.34	$ 114.97	$ 119.29
Market performance-based awards \| Minimum
Weighted-Average Grant Date Fair Value
Award vesting period	2 years
Market performance-based awards \| Maximum
Weighted-Average Grant Date Fair Value
Award vesting period	3 years
Restricted stock
Units
Unvested beginning of period (shares)	372,792
Vested (shares)	(385,905)
Cancelled or expired (shares)	(35,274)
Unvested end of period (shares)	783,219	372,792
Weighted-Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share)	$ 108.47
Granted (in dollars per share)	138.82	$ 115.25	$ 100.33
Vested (in dollars per share)	116.19
Cancelled or expired (in dollars per share)	120.31
Unvested, end of period (in dollars per share)	$ 123.04	$ 108.47
Weighted-Average Remaining Contractual Life (Years)	2 years 3 months 10 days
Aggregate Intrinsic Value	$ 108,797
Award vesting period	4 years
Intrinsic value of units	$ 53,400	$ 14,000	$ 10,000
Interxion awards
Units
Granted (shares)	567,810
Weighted-Average Grant Date Fair Value
Granted (in dollars per share)	$ 120.67

Incentive Plan - Market Performance Based Awards (Details) $ in Millions							1 Months Ended			12 Months Ended
	Feb. 27, 2024	Feb. 27, 2023	Feb. 27, 2022	Feb. 27, 2021	Feb. 27, 2020	Feb. 27, 2019	Jan. 31, 2021 shares	Jan. 31, 2020 shares	Jan. 31, 2019 shares	Dec. 31, 2020 USD ($) item shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 USD ($) shares
2014 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period										3 years
2015 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period										3 years
Market performance-based awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period										3 years
Number of trials \| item										100,000
Fair value of awards \| $										$ 17.2	$ 22.3	$ 21.8
Award requisite service period										4 years
Market performance-based awards \| Below Threshold Level
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage										0.00%
Performance Threshold										(500.00%)	(300.00%)	(300.00%)
Market performance-based awards \| Threshold Level
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage										25.00%
Performance Threshold										(500.00%)	(300.00%)	(300.00%)
Market performance-based awards \| Target Level
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage										50.00%
Performance Threshold										0.00%	100.00%	100.00%
Market performance-based awards \| High Level
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage										100.00%
Performance Threshold										500.00%	500.00%	500.00%
Market performance-based awards \| First Vesting Period in February \| 2016 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					50.00%	50.00%
Market performance-based awards \| First Vesting Period in February \| 2017 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					50.00%
Market performance-based awards \| First Vesting Period in February \| 2018 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				50.00%
Market performance-based awards \| Second Vesting Period in February \| 2017 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				50.00%
Market performance-based awards \| Second Vesting Period in February \| 2018 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			50.00%
Class D Units \| 2016 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting of restricted common units, net (units)									339,317
Class D Units \| 2017 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting of restricted common units, net (units)								137,816
Class D Units \| 2018 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting of restricted common units, net (units)							240,377
Distribution Equivalent Unit \| High Level \| 2016 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting of restricted common units, net (units)												31,009
Distribution Equivalent Unit \| High Level \| 2017 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting of restricted common units, net (units)											10,971
Distribution Equivalent Unit \| High Level \| 2018 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting of restricted common units, net (units)										20,725
Restricted Stock Units (RSUs) \| High Level \| 2016 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting of restricted common units, net (units)									56,778
Restricted Stock Units (RSUs) \| High Level \| 2017 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting of restricted common units, net (units)								29,141
Restricted Stock Units (RSUs) \| High Level \| 2018 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting of restricted common units, net (units)							63,498
Class D And Rsu Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of units \| $										$ 24.3	$ 32.7	$ 29.3
Scenario, Forecast \| Market performance-based awards \| First Vesting Period in February \| 2018 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				50.00%
Scenario, Forecast \| Market performance-based awards \| First Vesting Period in February \| 2019 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			50.00%
Scenario, Forecast \| Market performance-based awards \| First Vesting Period in February \| 2020 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		50.00%
Scenario, Forecast \| Market performance-based awards \| Second Vesting Period in February \| 2018 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			50.00%
Scenario, Forecast \| Market performance-based awards \| Second Vesting Period in February \| 2019 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		50.00%
Scenario, Forecast \| Market performance-based awards \| Second Vesting Period in February \| 2020 Performance Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	50.00%

Incentive Plan - Assumptions Used (Details) - Market performance-based awards								12 Months Ended
	Feb. 20, 2020	Feb. 19, 2020	Feb. 21, 2019	Jan. 01, 2019	Mar. 09, 2018	Mar. 01, 2018	Jan. 01, 2018	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected Stock Price Volatility	22.00%	22.00%	23.00%	23.00%	22.00%	22.00%	22.00%
Risk-Free Interest rate	1.35%	1.39%	2.48%	2.44%	2.42%	2.34%	1.98%
Expected dividend yield								0.00%

Incentive Plan - Summary of Restricted Stock Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Units
Granted (shares)	128,049	120,368	128,986
Restricted stock
Units
Unvested beginning of period (shares)	372,792
Vested (shares)	(385,905)
Cancelled or expired (shares)	(35,274)
Unvested end of period (shares)	783,219	372,792
Weighted-Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share)	$ 108.47
Granted (in dollars per share)	138.82	$ 115.25	$ 100.33
Vested (in dollars per share)	116.19
Cancelled or expired (in dollars per share)	120.31
Unvested, end of period (in dollars per share)	$ 123.04	$ 108.47
Weighted-Average Remaining Contractual Life (Years)	2 years 3 months 10 days
Aggregate Intrinsic Value	$ 108,797
Award vesting period	4 years
Intrinsic value of units	$ 53,400	$ 14,000	$ 10,000
Restricted stock \| Interxion Holding N.V.
Units
Granted (shares)	831,606
Weighted-Average Grant Date Fair Value
Granted (in dollars per share)	$ 126.43
Interxion awards
Units
Granted (shares)	567,810
Weighted-Average Grant Date Fair Value
Granted (in dollars per share)	$ 120.67

Incentive Plan - Defined Contribution Plans Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Incentive Plan
Vesting percentage of discretionary contributions	100.00%
Aggregate cost of contributions to the 401(k) Plan	$ 5.5	$ 5.2	$ 4.8

Derivative Instruments - Narrative (Details) $ in Thousands, £ in Millions		12 Months Ended
	Sep. 24, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2017 GBP (£) instrument	Jul. 01, 2016 instrument	Jun. 30, 2016 USD ($)
Derivative [Line Items]
Gain (loss) to be reclassified within twelve months		$ 1,500
Notional Amount		181,352	$ 479,825
Interest Rate Swap
Derivative [Line Items]
Realized loss	$ 6,400
Notional Amount	$ 300,000
Not Designated as Hedging Instrument \| Foreign Exchange Forward
Derivative [Line Items]
Fair value of derivatives						$ 37,800
Designated as Hedging Instrument \| Foreign Exchange Forward
Derivative [Line Items]
Number of forward contracts \| instrument				4	4
Notional Amount \| £				£ 357.3
Excess proceeds from forward contract settlement		64,000
Amount of AOCI to remain in AOCI		$ 26,200

Derivative Instruments - Outstanding Interest Rate Derivatives (Details) $ in Thousands	Sep. 24, 2020 USD ($)	Dec. 31, 2020 USD ($) $ / $	Dec. 31, 2019 USD ($) $ / $
Currently-paying contracts
Notional Amount		$ 181,352	$ 479,825
Unsecured term loans, net \| Canadian dollar (CAD)
Currently-paying contracts
Exchange rate \| $ / $		0.79	0.77
Level 2
Currently-paying contracts
Fair value of derivatives		$ (2,782)	$ 2,396
Interest Rate Swap 1.016
Currently-paying contracts
Notional Amount			29,000
Strike Rate		1.016%
Interest Rate Swap 1.016 \| Level 2
Currently-paying contracts
Fair value of derivatives			175
Interest Rate Swap, 1.164
Currently-paying contracts
Notional Amount			75,000
Strike Rate		1.164%
Interest Rate Swap, 1.164 \| Level 2
Currently-paying contracts
Fair value of derivatives			345
Interest Rate Swap, 1.435
Currently-paying contracts
Notional Amount		$ 104,000	300,000
Strike Rate		1.435%
Interest Rate Swap, 1.435 \| Level 2
Currently-paying contracts
Fair value of derivatives		$ (2,773)	945
Interest Rate Swap, 0.779
Currently-paying contracts
Notional Amount		$ 77,352	75,825
Strike Rate		0.779%
Interest Rate Swap, 0.779 \| Level 2
Currently-paying contracts
Fair value of derivatives		$ (9)	$ 931
Interest Rate Swap
Currently-paying contracts
Notional Amount	$ 300,000
Realized loss	$ 6,400
Digital Realty Trust, L.P. \| Unsecured term loans, net \| Canadian dollar (CAD)
Currently-paying contracts
Exchange rate \| $ / $			0.77

Fair Value of Instruments - Estimated Fair Value And Carrying Amounts (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	$ 135,000
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	14,679,665	$ 10,861,382
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	13,413,009	10,189,343
Level 2 \| Global revolving credit facilities, net \| Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of credit	540,184	245,766
Level 2 \| Global revolving credit facilities, net \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of credit	540,184	245,766
Level 2 \| Unsecured term loans, net \| Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of credit	537,470	813,205
Level 2 \| Unsecured term loans, net \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of credit	537,470	813,205
Level 2 \| Unsecured senior notes \| Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured senior notes	13,359,960	9,697,166
Level 2 \| Unsecured senior notes \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured senior notes	12,096,029	9,025,229
Level 2 \| Secured Debt \| Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	242,051	105,245
Level 2 \| Secured Debt \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	$ 239,326	$ 105,143

Commitments and Contingencies - Narrative (Details) $ in Millions	Dec. 31, 2020 USD ($)
Commitments and Contingencies.
Reimbursable amount of commitments related to construction contracts	$ 37.6
Commitments related to construction contracts	$ 1,100.0

Quarterly Financial Information Digital Realty Trust, Inc. (unaudited) - Summary Of Selected Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information (unaudited)
Revenues	$ 1,062,609	$ 1,024,668	$ 992,995	$ 823,337	$ 787,463	$ 806,466	$ 800,797	$ 814,515	$ 3,903,609	$ 3,209,241	$ 3,046,478
Net (loss) income	59,508	(1,454)	75,978	228,698	349,326	67,574	61,324	120,997	362,730	599,221	341,115
Net income (loss) attributable to Digital Realty Trust, L.P.	57,691	(138)	74,831	224,014	336,284	66,497	60,168	116,812	356,398	579,761	331,246
Preferred stock dividends and issuance costs associated with redeemed preferred stock	(13,514)	(37,232)	(21,155)	(21,155)	(20,707)	(16,670)	(28,430)	(20,943)
Net income available to common stockholders	$ 44,177	$ (37,370)	$ 53,676	$ 202,859	$ 315,577	$ 49,827	$ 31,738	$ 95,869	$ 263,342	$ 493,011	$ 249,930
Basic (in dollars per share)	$ 0.16	$ (0.14)	$ 0.20	$ 0.91	$ 1.51	$ 0.24	$ 0.15	$ 0.46	$ 1.01	$ 2.37	$ 1.21
Diluted (in dollars per share)	$ 0.16	$ (0.14)	$ 0.20	$ 0.90	$ 1.50	$ 0.24	$ 0.15	$ 0.46	$ 1.00	$ 2.35	$ 1.21

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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Quarterly Financial Information Digital Realty Trust, L.P. - Summary Of Selected Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information [Line Items]
Revenues	$ 1,062,609	$ 1,024,668	$ 992,995	$ 823,337	$ 787,463	$ 806,466	$ 800,797	$ 814,515	$ 3,903,609	$ 3,209,241	$ 3,046,478
Net (loss) income	59,508	(1,454)	75,978	228,698	349,326	67,574	61,324	120,997	362,730	599,221	341,115
Net income (loss) attributable to Digital Realty Trust, L.P.	57,691	(138)	74,831	224,014	336,284	66,497	60,168	116,812	356,398	579,761	331,246
Preferred stock dividends and issuance costs associated with redeemed preferred stock	(13,514)	(37,232)	(21,155)	(21,155)	(20,707)	(16,670)	(28,430)	(20,943)
Net income available to common stockholders	$ 44,177	$ (37,370)	$ 53,676	$ 202,859	$ 315,577	$ 49,827	$ 31,738	$ 95,869	$ 263,342	$ 493,011	$ 249,930
Basic (in dollars per share/unit)	$ 0.16	$ (0.14)	$ 0.20	$ 0.91	$ 1.51	$ 0.24	$ 0.15	$ 0.46	$ 1.01	$ 2.37	$ 1.21
Diluted (in dollars per share/unit)	$ 0.16	$ (0.14)	$ 0.20	$ 0.90	$ 1.50	$ 0.24	$ 0.15	$ 0.46	$ 1.00	$ 2.35	$ 1.21
Digital Realty Trust, L.P.
Quarterly Financial Information [Line Items]
Revenues	$ 1,062,609	$ 1,024,668	$ 992,995	$ 823,337	$ 787,463	$ 806,466	$ 800,797	$ 814,515	$ 3,903,609	$ 3,209,241	$ 3,046,478
Net (loss) income	59,508	(1,454)	75,978	228,698	349,326	67,574	61,324	120,997	362,730	599,221	341,115
Net income (loss) attributable to Digital Realty Trust, L.P.	58,991	(1,138)	76,231	231,814	349,384	68,797	61,568	121,112	365,898	600,861	341,426
Preferred stock dividends and issuance costs associated with redeemed preferred stock	(13,514)	(37,232)	(21,155)	(21,155)	(20,707)	(16,670)	(28,430)	(20,943)
Net income available to common stockholders	$ 45,477	$ (38,370)	$ 55,076	$ 210,659	$ 328,677	$ 52,127	$ 33,138	$ 100,169	$ 272,842	$ 514,111	$ 260,110
Basic (in dollars per share/unit)	$ 0.16	$ (0.14)	$ 0.20	$ 0.91	$ 1.51	$ 0.24	$ 0.15	$ 0.46	$ 1.02	$ 2.37	$ 1.21
Diluted (in dollars per share/unit)	$ 0.16	$ (0.14)	$ 0.20	$ 0.90	$ 1.50	$ 0.24	$ 0.15	$ 0.46	$ 1.01	$ 2.35	$ 1.21

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.