01—Abstract
Summary
Summary of the 10-K/A filed April 1, 2016. Cited figures are marked; the original filing is the authoritative source.
This filing is Amendment No. 1 (Form 10-K/A) to Digital Realty Trust, Inc. and Digital Realty Trust, L.P.'s combined annual report for fiscal year 2015.
The original 10-K was filed February 29, 2016. This amendment does not contain financial statements, MD&A, or business discussion. It was filed solely to amend and restate Exhibits 21.1 and 21.2 (the subsidiary lists for the REIT and the operating partnership), which omitted some subsidiaries in the original filing.
The document states that it does not reflect events after the original filing. For investors, the amendment itself carries little new information. The cover page provides a few useful reference points: 146,797,648 shares of common stock outstanding as of March 31, 2016; an aggregate non-affiliate market value of approximately $9 billiona as of June 30, 2015; and large accelerated filer status for the REIT.
The operating partnership is a non-accelerated filer, and its common units have no public trading market. Series E through Series I cumulative redeemable preferred stock are listed on the NYSE.
Investors seeking operating results, leverage, occupancy, or guidance should review the original 10-K filed February 29, 2016, which contains the full financial disclosures. Because this amendment changes only the exhibit lists, it should not be treated as a source of new financial or operational data.
02—Key points
Key Highlights
- Filing type: 10-K/A (Amendment No. 1) for fiscal year ended December 31, 2015, covering both Digital Realty Trust, Inc. and Digital Realty Trust, L.P.
- Sole purpose: amends and restates Exhibits 21.1 and 21.2 to add subsidiaries that were inadvertently omitted from the original February 29, 2016 filing; no financial statements or narrative sections are included
- Shares outstanding: 146,797,648 shares of common stock ($0.01 par value) as of March 31, 2016
- Public float: aggregate market value of common equity held by non-affiliates was approximately $9 billion as of June 30, 2015
- Filer status: Digital Realty Trust, Inc. is a large accelerated filer and a well-known seasoned issuer; Digital Realty Trust, L.P. is a non-accelerated filer with no public market for its common units
- Listed securities: common stock and Series E, F, G, H, and I cumulative redeemable preferred stock are listed on the New York Stock Exchange
- Part III information is incorporated by reference from the 2016 Proxy Statement filed March 31, 2016
03—One dollar
04—Financials
Financial Highlights
Figures from 10-K/AFY2015filed April 1, 2016Financial Statements
FY2015 against FY2014
| Line item | FY2015FY2014 | Change |
|---|---|---|
| Revenue | $1.76B$1.62B | +9.1% |
| Operating Expenses | $1.36B$1.36B | +0.3% |
| Operating Income | $401.91M$258.67M | +55.4% |
| Interest Expense | $201.44M$191.09M | +5.4% |
| Net Income | $296.69M$200.18M | +48.2% |
| EPS (Basic) | $1.57$1.00 | +57.0% |
| EPS (Diluted) | $1.56$0.99 | +57.6% |
| Shares Outstanding (Basic) | 138.25M133.37M | +3.7% |
| Shares Outstanding (Diluted) | 138.87M133.64M | +3.9% |
05—Questions
Frequently Asked Questions
Does this amendment change Digital Realty's reported financial results for 2015?
No. The amendment only restates the subsidiary lists in Exhibits 21.1 and 21.2 and states that it does not reflect events after the original filing. Reported financial results come from the original 10-K filed February 29, 2016, and this amendment does not restate them.
Why was this 10-K/A filed?
To correct the subsidiary lists. Certain subsidiaries were inadvertently omitted from Exhibits 21.1 (for Digital Realty Trust, Inc.) and 21.2 (for Digital Realty Trust, L.P.) in the original filing.
Where can investors find the company's full 2015 financial disclosures?
In the original Form 10-K for fiscal 2015, filed with the SEC on February 29, 2016. This amendment does not include financial statements, MD&A, or risk factors.
How many common shares were outstanding, and what was the public float?
As of March 31, 2016, there were 146,797,648 shares of common stock outstanding. The aggregate market value held by non-affiliates was approximately $9 billion as of June 30, 2015, based on the NYSE closing price that day.
06—Continue