Opening its latest reports…Reading every line of the four statements…Putting it into plain words…
DLRDigital Realty Trust, Inc.
The four financial statements
Every company that sells shares in the US files four statements with the SEC. Together they show whether Digital Realty Trust made money, what it owns and owes, where its cash went, and what changed for its shareholders. Below is every line exactly as Digital Realty Trust filed it, with what each one means in plain English.
As filed with the SEC on Feb 13, 2026 · the full report · SEC's figures viewer
Income statement · also called the statement of operations, statement of earnings or profit and loss
Did it make money?
Read it from the top down. It starts with everything customers paid (sales), takes away the cost of making what was sold, then the costs of running the company, then interest and tax. What is left at the bottom is profit (net income), the part that belongs to shareholders. It covers a stretch of time: a year, or a quarter.
- People usually check: Are sales growing compared with a year earlier?
- People usually check: How much of each dollar of sales is left at each step (the margins)?
- People usually check: Is profit growing faster or slower than sales?
Point at or tap a bar to see the lines inside it.
Out of every $100 of sales
- costs of running the business: $89
- interest, other items and tax: $11 added
- kept as profit: $21.4
Every line, explained
| Line (tap for what it means) | 12 months to Dec 31, 2025 | 12 months to Dec 31, 2024 | 12 months to Dec 31, 2023 |
|---|---|---|---|
| Operating Revenues | |||
| $6.1B▲ 10% | $5.6B | $5.5B | |
| Operating Expenses | |||
| $2.5B▲ 8.1% | $2.3B | $2.4B | |
| $219.7M▲ 9.4% | $200.8M | $216.4M | |
| $1.9B▲ 6.9% | $1.8B | $1.7B | |
| $565.5M▲ 18% | $480.0M | $449.1M | |
| $185.1M▲ 97% | $93.9M | $84.7M | |
| $78.6M▼ 59% | $191.2M | $118.4M | |
| $3.7M▼ 86% | $27.1M | $7.5M | |
| $5.5B▲ 7.3% | $5.1B | $5.0B | |
| $658.5M▲ 40% | $471.9M | $524.5M | |
| Other Income (Expenses) | |||
| −$32.0M▲ 73% | −$120.1M | −$29.8M | |
| $995.6M▲ 67% | $595.8M | $900.5M | |
| $161.1M▲ 4.4% | $154.2M | $68.4M | |
| −$437.9M▲ 3.3% | −$452.8M | −$437.7M | |
| $9.0K | −$5.9M | – | |
| −$32.0M▲ 41% | −$54.8M | −$75.6M | |
| $1.3B▲ 123% | $588.3M | $950.3M | |
| −$4.6M | $14.2M | −$1.5M | |
| $1.3B▲ 117% | $602.5M | $948.8M | |
| −$40.7M | −$40.7M | −$40.7M | |
| $1.3B▲ 126% | $561.8M | $908.1M | |
| Net income per share available to common stockholders | |||
| $3.73▲ 114% | $1.74 | $3.04 | |
| $3.58▲ 122% | $1.61 | $2.88 | |
| Weighted average common shares outstanding | |||
| 339.8M shares▲ 5.1% | 323.3M shares | 298.6M shares | |
| 347.8M shares▲ 4.9% | 331.5M shares | 309.1M shares | |
Split by Digital Realty Trust, L.P., Rental and other services, Rental and other services | Digital Realty Trust, L.P., Fee income and other and more
| Digital Realty Trust, L.P. | |||
|---|---|---|---|
| Sales (Total operating revenues) | $6.1B | $5.6B | $5.5B |
| Buildings and equipment (Rental property operating and maintenance) | $2.5B | $2.3B | $2.4B |
| Buildings and equipment (Property taxes and insurance) | $219.7M | $200.8M | $216.4M |
| Wear and tear (depreciation and amortization) (Depreciation and amortization) | $1.9B | $1.8B | $1.7B |
| Running the company (general and administrative) (General and administrative) | $565.5M | $480.0M | $449.1M |
| Buying other businesses (Transactions and integration) | $185.1M | $93.9M | $84.7M |
| Write-down of asset values (impairment) (Provision for impairment) | $78.6M | $191.2M | $118.4M |
| Other item (Other) | $3.7M | $27.1M | $7.5M |
| Total running costs (operating expenses) (Total operating expenses) | $5.5B | $5.1B | $5.0B |
| Profit from the main business (operating income) (Operating income) | $658.5M | $471.9M | $524.5M |
| Share of profit from part-owned businesses (Equity in loss of unconsolidated entities) | −$32.0M | −$120.1M | −$29.8M |
| Gains or losses (Gain on disposition of properties, net) | $995.6M | $595.8M | $900.5M |
| Other income and costs (Other income, net) | $161.1M | $154.2M | $68.4M |
| Interest paid on debt (Interest expense) | −$437.9M | −$452.8M | −$437.7M |
| Gains or losses (Gain (loss) on debt extinguishment and modifications) | $9.0K | −$5.9M | – |
| Income tax (Income tax expense) | −$32.0M | −$54.8M | −$75.6M |
| Profit, including partners' share (Net income) | $1.3B | $588.3M | $950.3M |
| Profit belonging to partners (non-controlling interest) (Net (income) loss attributable to noncontrolling interests) | $23.4M | $26.9M | $19.2M |
| Profit (net income) (Net income attributable to Digital Realty Trust, L.P.) | $1.3B | $615.2M | $969.5M |
| Dividends (Preferred stock dividends) | −$40.7M | −$40.7M | −$40.7M |
| Profit for ordinary shareholders (Net income available to common unitholders) | $1.3B | $574.5M | $928.8M |
| Profit per share (basic EPS) (Basic) | $3.75 | $1.74 | $3.05 |
| Profit per share, counting promised shares (diluted EPS) (Diluted) | $3.60 | $1.62 | $2.89 |
| Average number of shares (Basic) | 345.7M shares | 329.5M shares | 304.7M shares |
| Average number of shares, counting promised shares (Diluted) | 353.7M shares | 337.7M shares | 315.1M shares |
| Rental and other services | |||
| Sales (Total operating revenues) | $6.0B | $5.5B | $5.4B |
| Rental and other services | Digital Realty Trust, L.P. | |||
| Sales (Total operating revenues) | $6.0B | $5.5B | $5.4B |
| Fee income and other | |||
| Sales (Total operating revenues) | $143.8M | $72.5M | $46.9M |
| Fee income and other | Digital Realty Trust, L.P. | |||
| Sales (Total operating revenues) | $143.8M | $72.5M | $46.9M |
Every line as the company filed it (USD ($), shares in Thousands, $ in Thousands), shown in full dollars. See this statement on SEC.
Extra: What other gains and losses were there?Statement of comprehensive income: Profit, plus gains and losses that skip the income statement.
Some value changes don't count as profit yet: currency moves on businesses abroad, rises or falls in investments it hasn't sold, and some hedges and pension changes. They are added to profit here to give comprehensive income, and they build up in shareholders' equity.
Every line, explained
| Line (tap for what it means) | 12 months to Dec 31, 2025 | 12 months to Dec 31, 2024 | 12 months to Dec 31, 2023 |
|---|---|---|---|
| $1.3B | $588.3M | $950.3M | |
| Other comprehensive income (loss) | |||
| $898.5M | −$605.6M | −$210.0M | |
| $42.5M | $162.7M | −$21.4M | |
| −$26.1M | −$40.1M | −$32.8M | |
| $915.0M | −$483.0M | −$264.2M | |
| $2.2B | $105.3M | $686.1M | |
| −$206.4M | $68.4M | $105.9M | |
| $2.0B | $173.7M | $792.1M | |
Split by Digital Realty Trust, L.P.
| Digital Realty Trust, L.P. | |||
|---|---|---|---|
| Profit, including partners' share (Net income) | $1.3B | $588.3M | $950.3M |
| Effect of currency moves (Foreign currency translation adjustments) | $898.5M | −$605.6M | −$210.0M |
| Hedges (Increase (decrease) in fair value of derivatives) | $42.5M | $162.7M | −$21.4M |
| Interest paid (Reclassification to interest expense from derivatives) | −$26.1M | −$40.1M | −$32.8M |
| Other gains and losses not in profit (other comprehensive income) (Other comprehensive income (loss)) | $915.0M | −$483.0M | −$264.2M |
| Partners' share (non-controlling interest) (Comprehensive income) | $2.2B | $105.3M | $686.1M |
| Partners' share (non-controlling interest) (Comprehensive (income) loss attributable to noncontrolling interests) | −$164.5M | $69.9M | $123.0M |
| Profit plus other gains and losses (comprehensive income) (Comprehensive income attributable to Digital Realty Trust, L.P.) | $2.1B | $175.3M | $809.1M |