Adjustments for Non-Cash Items [USD, Thousands]

Stock-Based Compensation [USD, Thousands]

Changes in Working Capital [USD, Thousands]

Capital Expenditures (CapEx) [USD, Thousands]

Proceeds from / Repayments of Debt [USD, Thousands]

Share Repurchases [USD, Thousands]

Dividend Payments [USD, Thousands]

Net Change in Cash [USD, Thousands]

25b281c18404c7720a0b023983312b3885cbaae1759c39cff4a185b59834236d

0c62f17fd38003570d1c35e5fca27de581c3da247d77ccd84c676b010cebdfcb

bd02b6aeb96100702c4c8edc1520efbe94adfa3eea061107c36fef7f2bd54f09

73c034c540500799669a97de0461e117fb261d0d23e4324cdd6d7dfc909e633c

b787a8e69593d18d1a6822ae9f8b5d4ca4d9a213a393f69522731c1523f4c354

07b197ed391a802473f2b017f8e46fd3f3248e402e3ee22cec829399fac77157

The spike in **Cash and cash equivalents** during **Q2 2024** was primarily driven by **substantial equity issuances**—including a follow-on offering that raised **$1.65 billion** and an ATM issuance yielding approximately **$177 million**—along with significant **debt repayments** and robust **capital recycling and private capital ventures** that collectively boosted liquidity.  **[20240725LA70006:2]** **[DLR_3394340_1]** 

What drove the spike in Cash and cash equivalents in Q2 2024?

The rise in **Digital Realty's total assets in Q3 2024** resulted from several factors. **Investments in properties, net** increased significantly, reflecting continued investment in real estate assets such as acquisitions and developments.  **[20241024LA39695:9]** **[0001558370-24-014149_dlr-20240930x10q.htm:11]**  Also, a notable growth in **cash and cash equivalents**—supported by financing activities including common stock issuances and debt refinancing—played a key role.  **[20241024LA39695:9]** **[20241024LA39695:1]**  Additionally, there was a **modest increase in goodwill** due to acquisitions, as well as specific strategic moves such as the **acquisition of two data centers in the UK for $200 million** and the **acquisition of data center land and shell in Amsterdam for approximately $48 million**.  **[20241024LA39695:1]**  Lastly, **other asset changes** contributed to the overall increase, further supporting the rise in total assets.  **[20241024LA39695:9]** **[0001558370-24-014149_dlr-20240930x10q.htm:11]** 

What factors contributed to the rise in Total assets in Q3 2024?

Digital Realty’s unsecured term loans dropped sharply by Q3 2024 primarily due to significant repayment activities during the quarter. Specifically, the company repaid **€375 million** (approximately **$415 million**) on its Euro term loan in September 2024, which considerably reduced the outstanding balance of its unsecured term loans.  **[20241024LA39695:9]** **[20241024LA39695:1]** 

Why did Unsecured term loans drop sharply by Q3 2024?

The documents do not provide a specific reason for the increase in **secured and other debt, net of discount** from **$625,750** in Q1 2024 to **$757,831** in Q3 2024. However, it is common for such changes to result from factors like refinancing activities, new borrowings, or repayments, as well as changes in interest rates or borrowing spreads.  **[0001558370-24-013620_dlr-20241024xex99d1.htm:20]** **[0001558370-24-014149_dlr-20240930x10q.htm:37]** 

What caused the increase in Secured and other debt in Q3 2024?

The documents do not provide a specific explanation for why total liabilities declined in Q2 2024 compared to the full-year total liabilities for FY 2023. While one document notes that the decrease in Q2 2024 relative to the previous quarter may be due to typical factors such as fluctuations in debt levels or changes in accounts payable  **[20240725LA70006:11]** , no detailed reasoning is given to directly explain the difference between Q2 2024 and FY 2023 liabilities.  **[0001558370-24-014149_dlr-20240930x10q.htm:11]** **[0001558370-24-014149_dlr-20240930x10q.htm:4]** 

Why did Total liabilities fall in Q2 2024 compared to FY 2023?

11729a7d4e553b288394f82b1a1ec5c74986c3e90df88dc1181fcee3954085de

Operating cash flow in Q3 2024 was boosted by several factors. Despite a reduction in net income, **non-cash adjustments**—such as an increase in **depreciation and amortization** and a higher **provision for impairment**—helped add back cash. Additionally, **favorable changes in working capital**, including a reduction in accounts receivable and an increase in accounts payable, along with a lower deduction for the **gain on disposition of properties**, all contributed to elevating the operating cash flow during this period.  **[0001558370-24-014149_dlr-20240930x10q.htm:17]** **[0001558370-24-014149_dlr-20240930x10q.htm:10]** 

Why was Operating Cash Flow so high in Q3 2024?

The documents indicate that while there was a **$370,132 thousand** decrease in cash used for improvements to investments in real estate in Q3 2024 compared to the prior period, there are **no specific factors explicitly provided**. The documents suggest that the change might be related to **reduced capital expenditures**, possible **project completions**, or **shifts in investment priorities**, but they do not provide definitive details on which of these factors actually contributed to the reduction.  **[0001558370-24-014149_dlr-20240930x10q.htm:67]** 

What factors contributed to the reduced capital expenditures in Q3 2024?

The documents indicate that while there was a sizable decrease in the magnitude of the increase in accounts receivable and other assets from **Q4 2022 to Q4 2023** (from **$141,958 thousand** down to **$33,034 thousand**), they do not provide detailed, specific reasons for this reversal. Typically, such fluctuations can be influenced by factors like **changes in customer billing, timing of collections, or adjustments related to deferred rent or other receivables**.  **[0001558370-24-006671_dlr-20240331x10q.htm:13]** 

What drove the reversal to a positive change in accounts receivable and other assets in Q4 2023?

In Q1 2024, **cash paid for asset acquisitions increased by $23,580 thousand** compared to the same period in 2023—rising to **$80,581 thousand from $57,001 thousand**—but the documents do not provide **specific reasons** for this surge.  **[0001558370-24-006671_dlr-20240331x10q.htm:13]** **[0001558370-24-006671_dlr-20240331x10q.htm:8]** 

Why did the cash outflow for asset acquisitions surge in Q1 2024?

66fcb13cb4cc8bb84953bc949bae9945cc896ad6f9de87e66c9bd41ad4602034

Rental and other services (USD, thousands)

Fee income and other (USD, thousands)

Total operating revenues (USD, thousands)

Rental property operating and maintenance (USD, thousands)

Property taxes and insurance (USD, thousands)

Depreciation and amortization (USD, thousands)

General and administrative (USD, thousands)

Transactions and integration (USD, thousands)

Provision for impairment (USD, thousands)

Other operating expenses (USD, thousands)

Total operating expenses (USD, thousands)

Operating income (USD, thousands)

Equity in (loss) earnings of unconsolidated entities (USD, thousands)

Gain on disposition of properties, net (USD, thousands)

Other income, net (USD, thousands)

Interest expense (USD, thousands)

Loss on debt extinguishment and modifications (USD, thousands)

Income tax expense (USD, thousands)

Net income (USD, thousands)

Net loss attributable to noncontrolling interests (USD, thousands)

Net income attributable to Digital Realty Trust, L.P. (USD, thousands)

Preferred units distributions (USD, thousands)

Net income available to common unitholders (USD, thousands)

75138abdc4c0617b6921c28b97a9af64d555ea43b47d071675de55a25b3e3bb5

Rental and Other Services

- Stabilized Properties

- Pre-Stabilized and Other Properties

Fee Income and Other

Tenant Reimbursements

- Utilities

- Other

Stabilized Portfolio

Non-Stabilized Portfolio

Interconnection and Other

Other

Total Revenue

c640fba11d8fad4b901836291c1ee4d2fe1d2493045aaadbee1b90d2842c1169

Inside the United States

Outside the United States

- United Kingdom

Americas

APAC (Asia-Pacific)

EMEA (Europe, Middle East, Africa)

7d00b54049004c7e884ebf23e8399f13f38207ffe979ac76651754dc583257f0

Digital Realty Trust Inc (DLR)

Financials