Digital Realty Trust(DLR)2025-02-25 02:40Debt and Liabilities - As of December 31, 2024, the total outstanding debt was 12,160 million and variable rate debt at 11,463 million, while the total fair value of outstanding debt was 4 million on variable rate debt not subject to swaps[476]. - The fair value of fixed rate debt would decrease by 22.11 billion as of December 31, 2024, from 386.9 million as of December 31, 2024, from 5.5 billion, with deferred rent net and accounts receivable at 570 million, respectively[496]. - Total operating revenues for 2024 reached 5,477,061 in 2023[522]. - Net income for 2024 was 950,312 in 2023[524]. - Operating income decreased to 524,461 in 2023[522]. - The company reported a net income available to common stockholders of 908,114 in 2023[522]. - Basic net income per share available to common stockholders was 3.04 in 2023, reflecting a decline of 42.5%[522]. - Total operating expenses increased to 4,952,600 in 2023[522]. Assets and Equity - Total assets increased to 44.11 billion as of December 31, 2023[520]. - Stockholders' equity rose to 19.12 billion as of December 31, 2023, reflecting an increase of approximately 11.6%[520]. - The Operating Partnership's investments in properties, net decreased slightly to 24.24 billion as of December 31, 2023[520]. - The total equity increased to 19.60 billion as of December 31, 2023, indicating a growth of approximately 10.9%[520]. - Cash and cash equivalents increased to 1.63 billion as of December 31, 2023[520]. Foreign Currency and Risk Management - The company’s exposure to foreign currency exchange risk is primarily related to the Euro, Japanese yen, British pound sterling, Singapore dollar, South African rand, and Brazilian real[479]. - The company utilizes cross-currency interest rate swaps to hedge currency exposure associated with foreign subsidiaries[479]. - The company has designated notes denominated in Swiss francs with a total outstanding principal balance of 545 million CHF as non-derivative hedges of net investments in foreign operations[601]. - As of December 31, 2024, the company had no outstanding derivative foreign currency contracts[600]. Audit and Internal Control - The evaluation of the probability of collection of Scale and Hyperscale lease payments was identified as a critical audit matter, requiring significant auditor judgment[497]. - The company maintained effective internal control over financial reporting as of December 31, 2024, based on established criteria[500]. - The company’s internal control system is designed to provide reasonable assurance regarding the preparation and fair presentation of financial statements[481]. Comprehensive Income and Other Adjustments - Comprehensive income attributable to Digital Realty Trust, Inc. was 792,055 in 2023[524]. - The company experienced a foreign currency translation adjustment loss of 209,973 in 2023[524]. - Other comprehensive loss for the year ended December 31, 2024, was 157,198 in 2023, reflecting a worsening situation[533]. Investments and Acquisitions - The company sold or contributed properties generating gross proceeds of 304.1 million[659]. - A joint venture with Blackstone Inc. was formed to develop four hyperscale data center campuses, with net proceeds of approximately 200.5 million from the sale of its interest in four data centers to Brookfield Infrastructure Partners L.P.[663]. - The company expanded its joint venture with GI Partners, receiving approximately 453 million[665]. Shareholder and Equity Changes - The number of common shares increased to 311,607,580 by December 31, 2023, up from 291,148,222 a year earlier, representing a growth of about 7%[530]. - The company reported distributions totaling 1,474,864,000 in the previous year, representing an increase of approximately 4.7%[550]. - The balance of redeemable partnership units as of December 31, 2024, was 1,394,814 in 2023[553].