Investor Presentaiton
Reconciliation of
Non-GAAP Items
To Their Closest
GAAP Equivalent
Net Debt/LQA Adjusted EBITDA
in 000's
Total debt at balance sheet carrying value
Add: DLR share of unconsolidated joint venture debt
Add: Capital lease obligations, net
Less: Unrestricted cash
Net Debt as of September 30, 2021
Net Debt/LQA Adjusted EBITDA (iii)
(iii) Adjusted EBITDA
QE 9/30/21
$14,087,539
684,666
221,390
(278,690)
$14,714,905
Net Debt as of September 30, 2021
Net Debt/LQA Adjusted EBITDA - As Adjusted
QE 9/30/21
$ 14,714,905
Less: Gross Proceeds from Forward Equity
Less: Gross Proceeds from sale of assets to SREIT
Plus: DLR share of SREIT debt
$
(950,000)
$ (960,000)
$
145,250
6.0x
Net Debt as of September 30, 2021 (As Adjusted)
$ 12,950,155
Net Debt/LQA Adjusted EBITDA (iii) (As Adjusted)
5.4x
(iii) Adjusted EBITDA
Net loss available to common stockholders
Interest expense
$ 124,096
Adjusted EBITDA as of September 30, 2021
$
610,076
71,417
Loss from early extinguishment of debt
Taxes
13,709
Less: EBITDA from assets sold to SREIT
Adjusted EBITDA (As Adjusted)
$
(10,250)
$ 599,826
Depreciation and amortization
369,035
EBITDA
578,257
LQA Adjusted EBITDA (Adjusted EBITDA × 4)
$ 2,399,302
Unconsolidated JV real estate related depreciation & amortization
21,293
QE 9/30/21
Unconsolidated JV interest expense and tax expense
11,008
Fixed Charged Ratio (LQA Adjusted EBITDA/total fixed charges)
Severance accrual and equity acceleration and legal expenses
1,377
Transaction and integration expenses
13,804
Gain on sale / deconsolidation
635
GAAP interest expense plus capitalized interest
Preferred dividends
Other non-core adjustments, net
(28,745)
Impairment of investments in real estate
Noncontrolling interests
Preferred stock dividends, including undeclared dividends
Total fixed charges
Fixed charge ratio
2,266
10,181
94,360
10,181
104,541
5.8x
(Gain) on redemption of preferred stock
Adjusted EBITDA
LQA Adjusted EBITDA (Adjusted EBITDA x 4)
QE
09/30/21
$ 610,076
Fixed Charged Ratio (LQA Adjusted EBITDA/total fixed charges) - As Adjusted
Total fixed charges
104,541
$2,440,302
Less: Lower Interest from debt reduction with Forward Equity proceeds
(122)
Less: Lower Interest from debt reduction with SREIT proceeds
(2,342)
399
Γ
L
DIGITAL REALTY.
Plus: DLR share of interest in SREIT debt
Total fixed charges (As Adjusted)
Fixed charge ratio (As Adjusted)
102,476
5.9x
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