Cover Page
Cover Page - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2020 | Feb. 18, 2021 | Jun. 30, 2020 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Transition Report | false | ||
Entity File Number | 000-31293 | ||
Entity Registrant Name | EQUINIX, INC. | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Entity Central Index Key | 0001101239 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 77-0487526 | ||
Entity Address, Address Line One | One Lagoon Drive | ||
Entity Address, City or Town | Redwood City | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 94065 | ||
City Area Code | 650 | ||
Local Phone Number | 598-6000 | ||
Title of 12(b) Security | Common Stock, $0.001 | ||
Trading Symbol | EQIX | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 62.2 | ||
Entity Common Stock, Shares Outstanding | 89,287,863 | ||
Documents Incorporated by Reference | Part III – Portions of the registrant's definitive proxy statement to be issued in conjunction with the registrant's 2021 Annual Meeting of Stockholders, which is expected to be filed not later than 120 days after the registrant's fiscal year ended December 31, 2020. Except as expressly incorporated by reference, the registrant's proxy statement shall not be deemed to be a part of this report on Form 10-K | ||
ICFR Auditor Attestation Flag | true |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 1,604,869 | $ 1,869,577 |
Short-term investments | 4,532 | 10,362 |
Accounts receivable, net of allowance of $10,677 and $13,026 | 676,738 | 689,134 |
Other current assets | 323,016 | 303,543 |
Total current assets | 2,609,155 | 2,872,616 |
Property, plant and equipment, net | 14,503,084 | 12,152,597 |
Operating lease right-of-use assets | 1,475,057 | 1,475,367 |
Goodwill | 5,472,553 | 4,781,858 |
Intangible assets, net | 2,170,945 | 2,102,389 |
Other assets | 776,047 | 580,788 |
Total assets | 27,006,841 | 23,965,615 |
Current liabilities: | ||
Accounts payable and accrued expenses | 844,862 | 760,718 |
Accrued property, plant and equipment | 301,155 | 301,535 |
Current portion of operating lease liabilities | 154,207 | 145,606 |
Current portion of finance lease liabilities | 137,683 | 75,239 |
Current portion of mortgage and loans payable | 82,289 | 77,603 |
Current portion of senior notes | 150,186 | 643,224 |
Other current liabilities | 354,368 | 153,938 |
Total current liabilities | 2,024,750 | 2,157,863 |
Operating lease liabilities, less current portion | 1,308,627 | 1,315,656 |
Finance lease liabilities, less current portion | 1,784,816 | 1,430,882 |
Mortgage and loans payable, less current portion | 1,287,254 | 1,289,434 |
Senior notes, less current portion | 9,018,277 | 8,309,673 |
Other liabilities | 948,999 | 621,725 |
Total liabilities | 16,372,723 | 15,125,233 |
Commitments and contingencies (Note 15) | ||
Equinix stockholders' equity: | ||
Preferred stock, $0.001 par value per share: 100,000,000 shares authorized in 2020 and 2019; zero shares issued and outstanding | 0 | 0 |
Common stock, $0.001 par value per share: 300,000,000 shares authorized in 2020 and 2019; 89,462,304 issued and 89,134,252 outstanding in 2020 and 85,700,953 issued and 85,308,386 outstanding in 2019 | 89 | 86 |
Additional paid-in capital | 15,028,357 | 12,696,433 |
Treasury stock, at cost; 328,052 shares in 2020 and 392,567 shares in 2019 | (122,118) | (144,256) |
Accumulated dividends | (5,119,274) | (4,168,469) |
Accumulated other comprehensive loss | (913,368) | (934,613) |
Retained earnings | 1,760,302 | 1,391,425 |
Total Equinix stockholders' equity | 10,633,988 | 8,840,606 |
Non-controlling interests | 130 | (224) |
Total stockholders' equity | 10,634,118 | 8,840,382 |
Total liabilities and stockholders' equity | $ 27,006,841 | $ 23,965,615 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 10,677 | $ 13,026 |
Preferred stock, par value per share (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value per share (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 300,000,000 | 300,000,000 |
Common stock, shares issued (in shares) | 89,462,304 | 85,700,953 |
Common stock, shares outstanding (in shares) | 89,134,252 | 85,308,386 |
Treasury stock, at cost (in shares) | 328,052 | 392,567 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Statement [Abstract] | |||
Revenues | $ 5,998,545 | $ 5,562,140 | $ 5,071,654 |
Costs and operating expenses: | |||
Cost of revenues | 3,074,340 | 2,810,184 | 2,605,475 |
Sales and marketing | 718,356 | 651,046 | 633,702 |
General and administrative | 1,090,981 | 935,018 | 826,694 |
Transaction costs | 55,935 | 24,781 | 34,413 |
Impairment charges | 7,306 | 15,790 | 0 |
Gain on asset sales | (1,301) | (44,310) | (6,013) |
Total costs and operating expenses | 4,945,617 | 4,392,509 | 4,094,271 |
Income from operations | 1,052,928 | 1,169,631 | 977,383 |
Interest income | 8,654 | 27,697 | 14,482 |
Interest expense | (406,466) | (479,684) | (521,494) |
Other income | 6,913 | 27,778 | 14,044 |
Loss on debt extinguishment | (145,804) | (52,825) | (51,377) |
Income before income taxes | 516,225 | 692,597 | 433,038 |
Income tax expense | (146,151) | (185,352) | (67,679) |
Net income | 370,074 | 507,245 | 365,359 |
Net (income) loss attributable to non-controlling interests | (297) | 205 | 0 |
Net income attributable to Equinix | $ 369,777 | $ 507,450 | $ 365,359 |
Earnings per share ("EPS") attributable to Equinix: | |||
Basic EPS (in dollars per share) | $ 4.22 | $ 6.03 | $ 4.58 |
Weighted-average shares for basic EPS (in shares) | 87,700 | 84,140 | 79,779 |
Diluted EPS (in dollars per share) | $ 4.18 | $ 5.99 | $ 4.56 |
Weighted-average shares for diluted EPS (in shares) | 88,410 | 84,679 | 80,197 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 370,074 | $ 507,245 | $ 365,359 |
Other comprehensive income (loss), net of tax: | |||
Foreign currency translation adjustment ("CTA") gain (loss), net of tax effects of $—, $(51) and $4,419 | 548,560 | (58,334) | (421,743) |
Net investment hedge CTA gain (loss), net of tax effects of $—, $10 and $1,358 | (444,553) | 73,294 | 219,628 |
Unrealized gain (loss) on cash flow hedges, net of tax effects of $14,521, $2,938 and $(14,557) | (82,790) | (3,842) | |
Unrealized gain (loss) on cash flow hedges, net of tax effects of $14,521, $2,938 and $(14,557) | 43,671 | ||
Net actuarial gain (loss) on defined benefit plans, net of tax effects of $(23), $(9) and $(15) | 85 | (48) | 55 |
Total other comprehensive income (loss), net of tax | 21,302 | 11,070 | (158,389) |
Comprehensive income, net of tax | 391,376 | 518,315 | 206,970 |
Net (income) loss attributable to non-controlling interests | (297) | 205 | 0 |
Other comprehensive (income) loss attributable to non-controlling interests | (57) | 19 | 0 |
Comprehensive income attributable to Equinix | $ 391,022 | $ 518,539 | $ 206,970 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | |||
Foreign currency translation adjustment, tax | $ 0 | $ (51) | $ 4,419 |
Net investment hedge CTA gain (loss), tax | 0 | 10 | 1,358 |
Unrealized gain (loss) on cash flow hedges, tax | 14,521 | 2,938 | |
Unrealized gain (loss) on cash flow hedges, tax | (14,557) | ||
Net actuarial gain (loss) on defined benefit plans, tax | $ (23) | $ (9) | $ (15) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders’ Equity and Other Comprehensive Income (Loss) - USD ($) $ in Thousands | Total | Adjustment from adoption of new accounting standard | Public offering | ATM Program | Equinix Stockholders' Equity | Equinix Stockholders' EquityAdjustment from adoption of new accounting standard | Equinix Stockholders' EquityPublic offering | Equinix Stockholders' EquityATM Program | Common stock | Common stockPublic offering | Common stockATM Program | Treasury stock | Additional Paid-in Capital | Additional Paid-in CapitalPublic offering | Additional Paid-in CapitalATM Program | Accumulated Dividends | AOCI (Loss) | AOCI (Loss)Adjustment from adoption of new accounting standard | Retained Earnings | Retained EarningsAdjustment from adoption of new accounting standard | Non-controlling Interests |
Beginning balance (in shares) at Dec. 31, 2017 | 79,440,404 | 402,342 | |||||||||||||||||||
Beginning balance at Dec. 31, 2017 | $ 6,849,790 | $ 269,776 | $ 6,849,790 | $ 269,776 | $ 79 | $ (146,320) | $ 10,121,323 | $ (2,592,792) | $ (785,189) | $ (2,124) | $ 252,689 | $ 271,900 | $ 0 | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||
Net income (loss) | 365,359 | 365,359 | 365,359 | ||||||||||||||||||
Other comprehensive income (loss) | (158,389) | (158,389) | (158,389) | ||||||||||||||||||
Issuance of common stock and release of treasury stock for employee equity awards (in shares) | 747,779 | 5,483 | |||||||||||||||||||
Issuance of common stock and release of treasury stock for employee equity awards | 50,136 | 50,136 | $ 1 | $ 1,159 | 48,976 | ||||||||||||||||
Issuance of common stock (in shares) | 930,934 | ||||||||||||||||||||
Issuance of common stock, net | $ 388,172 | $ 388,172 | $ 1 | $ 388,171 | |||||||||||||||||
Dividend distributions | (727,448) | (727,448) | (727,448) | ||||||||||||||||||
Settlement of accrued dividends on vested equity awards | 1,443 | 1,443 | 2,319 | (876) | |||||||||||||||||
Accrued dividends on unvested equity awards | (10,084) | (10,084) | (10,084) | ||||||||||||||||||
Stock-based compensation, net of estimated forfeitures | 189,799 | 189,799 | 189,799 | ||||||||||||||||||
Noncontrolling interests | 725 | 725 | 725 | ||||||||||||||||||
Ending balance (in shares) at Dec. 31, 2018 | 81,119,117 | 396,859 | |||||||||||||||||||
Ending balance at Dec. 31, 2018 | $ 7,219,279 | (5,973) | 7,219,279 | (5,973) | $ 81 | $ (145,161) | 10,751,313 | (3,331,200) | (945,702) | 889,948 | (5,973) | 0 | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||
Accounting Standards Update [Extensible List] | us-gaap:AccountingStandardsUpdate201613Member | ||||||||||||||||||||
Net income (loss) | $ 507,245 | 507,450 | 507,450 | (205) | |||||||||||||||||
Other comprehensive income (loss) | 11,070 | 11,089 | 11,089 | (19) | |||||||||||||||||
Issuance of common stock and release of treasury stock for employee equity awards (in shares) | 692,706 | 4,292 | |||||||||||||||||||
Issuance of common stock and release of treasury stock for employee equity awards | 52,017 | 52,017 | $ 1 | $ 905 | 51,111 | ||||||||||||||||
Issuance of common stock (in shares) | 2,985,575 | 903,555 | |||||||||||||||||||
Issuance of common stock, net | $ 1,213,434 | 447,542 | $ 1,213,434 | 447,542 | $ 3 | $ 1 | $ 1,213,431 | 447,541 | |||||||||||||
Dividend distributions | (825,893) | (825,893) | (825,893) | ||||||||||||||||||
Settlement of accrued dividends on vested equity awards | (380) | (380) | 308 | (688) | |||||||||||||||||
Accrued dividends on unvested equity awards | (10,688) | (10,688) | (10,688) | ||||||||||||||||||
Stock-based compensation, net of estimated forfeitures | $ 232,729 | 232,729 | 232,729 | ||||||||||||||||||
Ending balance (in shares) at Dec. 31, 2019 | 85,308,386 | 85,700,953 | 392,567 | ||||||||||||||||||
Ending balance at Dec. 31, 2019 | $ 8,840,382 | $ (900) | 8,840,606 | $ (900) | $ 86 | $ (144,256) | 12,696,433 | (4,168,469) | (934,613) | 1,391,425 | $ (900) | (224) | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||
Accounting Standards Update [Extensible List] | us-gaap:AccountingStandardsUpdate201613Member | ||||||||||||||||||||
Net income (loss) | $ 370,074 | 369,777 | 369,777 | 297 | |||||||||||||||||
Other comprehensive income (loss) | 21,302 | 21,245 | 21,245 | 57 | |||||||||||||||||
Issuance of common stock and release of treasury stock for employee equity awards (in shares) | 758,339 | 64,515 | |||||||||||||||||||
Issuance of common stock and release of treasury stock for employee equity awards | 62,117 | 62,117 | $ 0 | $ 22,138 | 39,979 | ||||||||||||||||
Issuance of common stock (in shares) | 2,587,500 | 415,512 | |||||||||||||||||||
Issuance of common stock, net | $ 1,683,106 | $ 298,269 | $ 1,683,106 | $ 298,269 | $ 3 | $ 0 | $ 1,683,103 | $ 298,269 | |||||||||||||
Dividend distributions | (936,269) | (936,269) | (936,269) | ||||||||||||||||||
Settlement of accrued dividends on vested equity awards | (581) | (581) | 189 | (770) | |||||||||||||||||
Accrued dividends on unvested equity awards | (13,766) | (13,766) | (13,766) | ||||||||||||||||||
Stock-based compensation, net of estimated forfeitures | $ 310,384 | 310,384 | 310,384 | ||||||||||||||||||
Ending balance (in shares) at Dec. 31, 2020 | 89,134,252 | 89,462,304 | 328,052 | ||||||||||||||||||
Ending balance at Dec. 31, 2020 | $ 10,634,118 | $ 10,633,988 | $ 89 | $ (122,118) | $ 15,028,357 | $ (5,119,274) | $ (913,368) | $ 1,760,302 | $ 130 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders’ Equity and Other Comprehensive Income (Loss) (Parenthetical) - $ / shares | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of Stockholders' Equity [Abstract] | |||||||||||||||
Dividends per share (in dollars per share) | $ 2.660000 | $ 2.660000 | $ 2.660000 | $ 2.660000 | $ 2.460000 | $ 2.460000 | $ 2.460000 | $ 2.460000 | $ 2.280000 | $ 2.280000 | $ 2.280000 | $ 2.280000 | $ 10.640000 | $ 9.840000 | $ 9.120000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities: | |||
Net income | $ 370,074 | $ 507,245 | $ 365,359 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 1,224,322 | 1,088,559 | 1,024,073 |
Stock-based compensation | 294,952 | 236,539 | 180,716 |
Amortization of intangible assets | 199,047 | 196,278 | 203,416 |
Amortization of debt issuance costs and debt discounts and premiums | 15,739 | 13,042 | 13,618 |
Provision for credit loss allowance | 5,069 | 8,459 | 7,236 |
Impairment charges | 7,306 | 15,790 | 0 |
Gain on asset sales | (1,301) | (44,310) | (6,013) |
Loss on debt extinguishment | 145,804 | 52,825 | 51,377 |
Other items | 16,643 | 11,620 | 19,660 |
Changes in operating assets and liabilities: | |||
Accounts receivable | 25,412 | (26,909) | (52,931) |
Income taxes, net | (22,641) | 32,495 | (10,670) |
Other assets | (129,817) | (100,144) | (47,635) |
Operating lease right-of-use assets | 153,650 | 149,031 | |
Operating lease liabilities | (142,863) | (152,091) | |
Accounts payable and accrued expenses | 25,801 | (27,928) | 35,495 |
Other liabilities | 122,629 | 32,227 | 31,725 |
Net cash provided by operating activities | 2,309,826 | 1,992,728 | 1,815,426 |
Cash flows from investing activities: | |||
Purchases of investments | (127,763) | (60,909) | (65,180) |
Sales and maturities of investments | 29,352 | 40,386 | 85,777 |
Business acquisitions, net of cash and restricted cash acquired | (1,180,272) | (34,143) | (829,687) |
Purchases of real estate | (200,182) | (169,153) | (182,418) |
Purchases of other property, plant and equipment | (2,282,504) | (2,079,521) | (2,096,174) |
Proceeds from sale of assets, net of cash transferred | 334,397 | 358,773 | 12,154 |
Net cash used in investing activities | (3,426,972) | (1,944,567) | (3,075,528) |
Cash flows from financing activities: | |||
Proceeds from employee equity awards | 62,118 | 52,018 | 50,136 |
Payment of dividends and special distribution | (947,933) | (836,164) | (738,600) |
Proceeds from public offering of common stock, net of issuance costs | 1,981,375 | 1,660,976 | 388,172 |
Proceeds from senior notes, net of debt discounts | 4,431,627 | 2,797,906 | 929,850 |
Proceeds from mortgage and loans payable | 750,790 | 0 | 424,650 |
Repayment of senior notes | (4,363,761) | (2,206,289) | 0 |
Repayment of finance lease liabilities | (115,288) | (126,486) | |
Repayment of finance lease liabilities | (103,774) | ||
Repayment of mortgage and loans payable | (829,466) | (73,227) | (447,473) |
Debt extinguishment costs | (111,700) | (43,311) | (20,556) |
Debt issuance costs | (42,236) | (23,341) | (12,218) |
Other financing activities | 0 | 0 | 725 |
Net cash provided by financing activities | 815,526 | 1,202,082 | 470,912 |
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash | 40,702 | 8,766 | (33,907) |
Net increase (decrease) in cash, cash equivalents and restricted cash | (260,918) | 1,259,009 | (823,097) |
Cash, cash equivalents and restricted cash at beginning of period | 1,886,613 | 627,604 | 1,450,701 |
Cash, cash equivalents and restricted cash at end of period | 1,625,695 | 1,886,613 | 627,604 |
Supplemental cash flow information | |||
Cash paid for taxes | 143,934 | 136,583 | 93,375 |
Cash paid for interest | 498,408 | 553,815 | 496,795 |
Total cash, cash equivalents, and restricted cash shown in the consolidated statement of cash flows | $ 1,886,613 | $ 1,886,613 | $ 1,450,701 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows - Supplemental Cash Flow Information - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Statement of Cash Flows [Abstract] | |||
Cash and cash equivalents | $ 1,604,869 | $ 1,869,577 | $ 606,166 |
Current portion of restricted cash included in other current assets | 11,135 | 7,090 | 10,887 |
Non-current portion of restricted cash included in other assets | 9,691 | 9,946 | 10,551 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $ 1,625,695 | $ 1,886,613 | $ 627,604 |
Nature of Business and Summary
Nature of Business and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Nature of Business and Summary of Significant Accounting Policies | Nature of Business and Summary of Significant Accounting Policies Nature of Business Equinix, Inc. ("Equinix" or the "Company") was incorporated in Delaware on June 22, 1998. Equinix provides colocation space and related offerings. Global enterprises, content providers, financial companies and network service providers rely upon Equinix's insight and expertise to safehouse and connect their most valued information assets. The Company operates International Business Exchange TM ("IBX ® ") data centers, or IBX data centers, across the Americas; Europe, Middle East and Africa ("EMEA") and Asia-Pacific geographic regions where customers directly interconnect with a network ecosystem of partners and customers. More than 1,800 network service providers offer access to the world's internet routes inside the Company's IBX data centers. This access to internet routes provides Equinix customers improved reliability and streamlined connectivity while significantly reducing costs by reaching a critical mass of networks within a centralized physical location. As of December 31, 2020, the Company operated 224 IBX data centers in 63 markets around the world. The Company has been operating as a real estate investment trust for federal income tax purposes ("REIT") effective January 1, 2015. See "Income Taxes" in Note 14 below for additional information. Basis of Presentation, Consolidation and Foreign Currency The accompanying consolidated financial statements include the accounts of Equinix and its subsidiaries, including the acquisitions of: • Infomart Dallas, including its operations and tenants, from ASB Real Estate Investments (the "Infomart Dallas Acquisition") from April 2, 2018; • Metronode from the Ontario Teachers' Pension Plan Board (the "Metronode Acquisition") from April 18, 2018; • Switch Datacenters' AMS1 data center business in Amsterdam, Netherlands from April 18, 2019; • Three data centers in Mexico acquired from Axtel S.A.B. de C.V ("Axtel") from January 8, 2020; • Packet Host, Inc. (“Packet”), including its operations and technology, from March 2, 2020; and • 12 data center sites across Canada from BCE Inc. ("Bell") from October 1, 2020 and one additional data center site from November 2, 2020. The Company consolidates all entities that are wholly owned and those entities in which the Company own less than 100% of the equity but control, including variable interest entities ("VIEs") for which the Company is the primary beneficiary. The Company's investment in consolidated VIEs have not been material to its consolidated financial statements as of and for the periods presented. All intercompany accounts and transactions have been eliminated in consolidation. Foreign exchange gains or losses resulting from foreign currency transactions, including intercompany foreign currency transactions, that are anticipated to be repaid within the foreseeable future, are reported within other income (expense) on the Company's accompanying consolidated statements of operations. For additional information on the impact of foreign currencies to the Company's consolidated financial statements, see "Accumulated Other Comprehensive Loss" in Note 12. Use of Estimates The preparation of consolidated financial statements in conformity with the accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to the allowance for credit losses, fair values of financial and derivative instruments, intangible assets and goodwill, assets acquired and liabilities assumed from acquisitions, useful lives of intangible assets and property, plant and equipment, leases, asset retirement obligations, other accruals, and income taxes. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable. Cash, Cash Equivalents and Short-Term Investments The Company considers all highly liquid instruments with an original maturity from the date of purchase of 90 days or less to be cash equivalents. Cash equivalents consist of money market mutual funds and certificates of deposit with original maturities up to 90 days. Short-term investments generally consist of certificates of deposit with original maturities of between 90 days and 1 year. Publicly traded equity securities are measured at fair value with changes in the fair values recognized within other income (expense) in the Company's consolidated statements of operations. The Company reviews its investment portfolio quarterly to determine if any securities may be other-than-temporarily impaired due to increased credit risk, changes in industry or sector of a certain instrument or ratings downgrades. Equity Method Investments The Company enters into joint venture or partnership arrangements to invest in certain entities for business development objectives. At the inception of these arrangements and if a reconsideration event has occurred, the Company assesses its interests with such entities to determine whether any of the entities meet the definition of a VIE. A VIE is an entity that either (i) has insufficient equity to permit the entity to finance its activities without additional subordinated financial support, or (ii) has equity investors who lack the characteristics of a controlling financial interest. The Company is required to consolidate the assets and liabilities of VIEs when it is deemed to be the primary beneficiary. The primary beneficiary of a VIE is the entity that meets both of the following criteria: (i) has the power to make decisions that most significantly affect the economic performance of the VIE; and (ii) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. For VIEs where the Company is not the primary beneficiary, and other joint ventures or partnerships that are not VIEs, where the Company has the ability to exercise significant influence over the entity, the Company accounts its investment under the equity method of accounting. Equity method investments are initially measured at cost, or at fair value when the investment represents a retained equity interest in a deconsolidated business or an investment recognized upon the derecognition of distinct non-financial assets. Equity investments are subsequently adjusted for cash contributions, distributions and the Company's share of the income and losses of the investees. The Company records its equity method investments in other assets in the consolidated balance sheet. The Company's proportionate share of the income or loss from its equity method investments are recorded in other income in the consolidated statement of operations. The Company reviews its investments quarterly to determine if any investments may be impaired considering both qualitative and quantitative factors that may have a significant impact on the investees' fair value. The Company did not record any impairment charges related to its equity method investments for the years ended December 31, 2020, 2019 and 2018. For further information on the Company's Equity Method Investments, see Note 6. Non-marketable Equity Investments The Company also has investments in non-marketable equity securities, where the Company does not have the ability to exercise significant influence over the investees. The Company elected the measurement alternative under which the securities are measured at cost minus impairment, if any, and adjusted for changes resulting from qualifying observable price changes. The Company records non-marketable equity investment in other assets in the consolidated balance sheet. The Company reviews its non-marketable equity investments quarterly to determine if any investments may be impaired considering both qualitative and quantitative factors that may have a significant impact on the investees' fair value. The Company did not record any impairment charges related to its non-marketable equity investments for the years ended December 31, 2020, 2019 and 2018. Financial Instruments and Concentration of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, short-term investments and accounts receivable. Risks associated with cash and cash equivalents and short-term investments are mitigated by the Company's investment policy, which limits the Company's investing to only those marketable securities rated at least A-1/P-1 Short Term Rating or A-/A3 Long Term Rating, as determined by independent credit rating agencies. A significant portion of the Company's customer base is comprised of businesses throughout the Americas. However, a portion of the Company's revenues are derived from the Company's EMEA and Asia-Pacific operations. The following table sets forth percentages of the Company's revenues by geographic region for the years ended December 31: 2020 2019 2018 Americas 45 % 47 % 49 % EMEA 33 % 32 % 31 % Asia-Pacific 22 % 21 % 20 % For further information on the Company's segment information, see Note 17. Property, Plant and Equipment Property, plant and equipment are stated at the Company's original cost or at fair value for property, plant and equipment acquired through acquisitions, net of depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets. Leasehold improvements and integral equipment at leased locations are amortized over the shorter of the lease term or the estimated useful life of the asset or improvement. The Company capitalizes certain internal and external costs associated with the development and purchase of internal-use software in property, plant and equipment, net on the consolidated balance sheets. This includes costs incurred in cloud computing arrangements ("CCA"), where it is both feasible and contractually permissible without significant penalty for the Company to take possession of the software. All other CCAs are considered service contracts, and the licensing and implementation costs incurred associated with such contracts are capitalized in other assets on the consolidated balance sheets. Capitalized internal-use software costs and capitalized implementation costs are amortized on a straight-line basis over the estimated useful lives of the software or arrangements. The Company's estimated useful lives of its property, plant and equipment are as follows: Core systems 3 - 40 years Buildings 12 - 58 years Leasehold improvements 12 - 40 years Personal Property, including capitalized internal-use software 3 - 10 years The Company's construction in progress includes direct and indirect expenditures for the construction and expansion of IBX data centers and is stated at original cost. The Company has contracted out substantially all of the construction and expansion efforts of its IBX data centers to independent contractors under construction contracts. Construction in progress includes costs incurred under construction contracts including project management services, engineering and schematic design services, design development, construction services and other construction-related fees and services. In addition, the Company has capitalized interest costs during the construction phase. Once an IBX data center or expansion project becomes operational, these capitalized costs are allocated to certain property, plant and equipment categories and are depreciated over the estimated useful life of the underlying assets. The Company reviews its property, plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or an asset group may not be recoverable such as a significant decrease in market price of an asset, a significant adverse change in the extent or manner in which an asset or an asset group is being used or in its physical condition, a significant adverse change in legal factors or business climate that could affect the value of an asset or an asset group or a continuous deterioration of the Company's financial condition. Recoverability of assets or asset groups to be held and used is assessed by comparing the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or the asset group. If the carrying amount of the asset or the asset group exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset or the asset group exceeds the fair value of the asset. The Company did not record any impairment charges related to its property, plant and equipment during the years ended December 31, 2020, 2019 and 2018. The Company enters into non-cancellable lease arrangements as the lessee primarily for its data center spaces, office spaces and equipment. Assets acquired through finance leases are included in property, plant and equipment, net on the consolidated balance sheets. In addition, a portion of the Company's property, plant and equipment are used for revenue arrangements which are accounted for as operating leases where the Company is the lessor. Assets Held for Sale Assets and liabilities to be disposed of that meet all of the criteria to be classified as held for sale are reported at the lower of their carrying amounts or fair values less costs to sell. The Company recorded an impairment charge of $7.3 million and $15.8 million relating to assets held for sale for the year ended December 31, 2020 and 2019, respectively. Assets are not depreciated or amortized while they are classified as held for sale. For further information on the Company's assets held for sale, see Note 5. Asset Retirement Costs and Asset Retirement Obligations The fair value of a liability for an asset retirement obligation is recognized in the period in which it is incurred. The associated retirement costs are capitalized and included as part of the carrying value of the long-lived asset and amortized over the useful life of the asset. Subsequent to the initial measurement, the Company accretes the liability in relation to the asset retirement obligations over time and the accretion expense is recorded as a cost of revenue. The Company's asset retirement obligations are primarily related to its IBX data centers, of which the majority are leased under long-term arrangements and are required to be returned to the landlords in their original condition. The majority of the Company's IBX data center leases have been subject to significant development by the Company in order to convert them from, in most cases, vacant buildings or warehouses into IBX data centers. For further information on the Company's leases, see Note 7. Goodwill and Other Intangible Assets The Company has three reportable segments comprised of the 1) Americas, 2) EMEA and 3) Asia-Pacific geographic regions, which the Company also determined are its reporting units. Goodwill is not amortized and is tested for impairment at least annually or more often if and when circumstances indicate that goodwill is not recoverable. The Company assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Qualitative factors considered in the assessment include industry and market conditions, overall financial performance, and other relevant events and factors affecting the reporting unit. If, after assessing the qualitative factors, the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying value, then performing a quantitative impairment test is unnecessary. However, if the Company concludes otherwise, then it is required to perform a quantitative goodwill impairment test. The quantitative impairment test, which is used to identify both the existence of impairment and the amount of impairment loss, compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. If the carrying value of the reporting unit exceeds its fair value, any excess of the reporting unit goodwill carrying value over the respective implied fair value is recognized as an impairment loss. As of December 31, 2020, 2019 and 2018, the Company concluded that it was more likely than not that goodwill attributed to the Company's Americas, EMEA and Asia-Pacific reporting units was not impaired as the fair value of each reporting unit exceeded the carrying value of its respective reporting unit, including goodwill. Substantially all of the Company's intangible assets are subject to amortization and are amortized using the straight-line method over their estimated period of benefit. The Company performs a review of intangible assets for impairment by assessing events or changes in circumstances that indicate the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is assessed by comparing the carrying amount of an asset to estimated undiscounted future net cash flows expected to be generated by the asset. If the carrying amount of the asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. The Company did not record any impairment charges related to its other intangible assets during the years ended December 31, 2020, 2019 and 2018. For further information on goodwill and other intangible assets, see Note 3 and Note 7 below. Debt Issuance Costs Costs and fees incurred upon debt issuances are capitalized and are amortized over the life of the related debt based on the effective interest method. Such amortization is included as a component of interest expense. Debt issuance costs related to outstanding debt are presented as a reduction of the carrying amount of the debt obligation and debt issuance costs related to the revolving credit facility are presented as other assets. For further information on debt facilities, see Note 11 below. Derivatives and Hedging Activities The Company uses derivative instruments, including foreign currency forwards and options and cross-currency interest rate swaps, to manage certain foreign currency exposures. Derivative instruments are viewed as risk management tools by the Company and are not used for speculative purposes. The Company recognizes all derivatives on the Company's consolidated balance sheets at fair value. The accounting for changes in the value of a derivative depends on whether the contract qualifies and has been designated for hedge accounting. In order to qualify for hedge accounting, a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged and there must be documentation of the risk management objective and strategy, including identification of the hedging instrument, the hedged item and the risk exposure, and the effectiveness assessment methodology. For cash flow hedges, the Company uses regression analysis at the time they are designated to assess their effectiveness. Hedge designations are reviewed on a quarterly basis to assess whether circumstances have changed that would disrupt the hedge instrument's relationship to the forecasted transactions or net investment. The Company uses the forward method to assess effectiveness of qualifying foreign currency forwards that are designated as cash flow hedges, whereby, the change in the fair value of the derivative is recorded in other comprehensive income (loss) and reclassified to the same line item in the consolidated statement of operations that is used to present the earnings effect of the hedged item when the hedged item affects earnings. The Company uses the spot method to assess effectiveness of qualifying foreign currency exchange options that are designated as cash flow hedges, whereby, the change in fair value due to foreign currency exchange spot rates is recorded in other comprehensive income (loss) and reclassified to the same line item in the consolidated statement of operations that is used to present the earnings effect of the hedged item when the hedged item affects earnings, and the change in fair value of the excluded component is recorded in other comprehensive income (loss) and amortized on a straight-line basis to the same line item in the consolidated statement of operations that is used to present the earnings effect of the hedged item. When two or more derivative instruments in combination are jointly designated as a cash flow hedging instrument, as with foreign currency exchange option collars, they are treated as a single instrument. If the hedge relationship is terminated for any derivatives designated as cash flow hedges, then the change in fair value of the derivative recorded in other comprehensive income (loss) is recognized in earnings when the previously hedged item affects earnings, consistent with the original hedge strategy. For hedge relationships that are discontinued because the forecasted transaction is not expected to occur according to the original strategy, then any related derivative amounts recorded in other comprehensive income (loss) are immediately recognized in earnings. From time to time, the Company uses derivative instruments, including treasury locks and swap locks (collectively, "interest rate locks") to manage certain interest rate exposures. An interest rate lock is a synthetic forward sale of a benchmark interest rate, which is settled in cash based upon the difference between an agreed upon rate at inception and the prevailing benchmark rate at settlement. It effectively fixes the benchmark rate component of an upcoming debt issuance. The interest rate lock transactions are designated as cash flow hedges, with all changes in value reported in other comprehensive income (loss). Subsequent to settlement, amounts in other comprehensive income are amortized to interest expense over the term of the forecasted hedged transaction which is equivalent to the term interest rate locks. The Company uses the spot method to assess effectiveness of cross-currency interest rate swaps that are designated as net investment hedges, whereby, the change in fair value due to foreign currency exchange spot rates is recorded in other comprehensive income (loss) and the change in fair value of the excluded component is recorded in other comprehensive income (loss) and amortized to interest expense on a straight-line basis. From time to time, the Company also uses foreign exchange forward contracts to hedge against the effect of foreign exchange rate fluctuations on a portion of its net investment in the foreign subsidiaries. The Company uses the spot method to assess effectiveness of qualifying foreign currency forwards that are designated as net investment hedges, whereby, the change in fair value due to foreign currency exchange spot rates is recorded in other comprehensive income (loss) and the change in fair value of the excluded component is recorded in other comprehensive income (loss) and amortized to interest expense on a straight-line basis. Foreign currency gains or losses associated with derivatives that are not designated as hedging instruments for accounting purposes are recorded within other income (expense) in the Company's consolidated statements of operations, with the exception of (i) foreign currency embedded derivatives contained in certain of the Company's customer contracts and (ii) foreign exchange forward contracts that are entered into to hedge the accounting impact of the foreign currency embedded derivatives, which are recorded within revenues in the Company's consolidated statements of operations. For further information on derivatives and hedging activities, see Note 8 below. Fair Value of Financial Instruments The carrying value of the Company's cash and cash equivalents, short-term investments and derivative instruments represent their fair value, while the Company's accounts receivable, accounts payable and accrued expenses and accrued property, plant and equipment approximate their fair value due primarily to the short-term maturity of the related instruments. The fair value of the Company's debt, which is traded in the public debt market, is based on quoted market prices. The fair value of the Company's debt, which is not publicly traded, is estimated by considering the Company's credit rating, current rates available to the Company for debt of the same remaining maturities and terms of the debt. Fair Value Measurements The Company measures and reports certain financial assets and liabilities at fair value on a recurring basis, including its investments in money market funds, certificates of deposit, publicly traded equity securities and derivatives. The Company also follows the accounting standard for the measurement of fair value for non-financial assets and liabilities on a nonrecurring basis. These include: • Non-financial assets and non-financial liabilities initially measured at fair value in a business combination or other new basis event, but not measured at fair value in subsequent reporting periods; • Reporting units and non-financial assets and non-financial liabilities measured at fair value for goodwill impairment tests; • Indefinite-lived intangible assets measured at fair value for impairment assessments; • Non-financial long-lived assets or asset groups measured at fair value for impairment assessments or disposal; • Asset retirement obligations initially measured at fair value but not subsequently measured at fair value; and • Assets and liabilities classified as held for sale are measured at fair value less costs to sell and reported at the lower of the carrying amounts or the fair values less costs to sell. For further information on fair value measurements, see Note 5 and Note 9 below. Leases The Company determines if an arrangement is or contains a lease at its inception. The Company enters into lease arrangements primarily for land, data center spaces, office spaces and equipment. The Company recognizes a right-of-use ("ROU") asset and lease liability on the consolidated balance sheet for all leases with a term longer than 12 months, including renewals options that the Company is reasonably certain to exercise. ROU assets represent the Company's right to use an underlying asset for the lease term. Lease liabilities represent the Company's obligation to make lease payments arising from the lease. ROU assets and liabilities are classified and recognized at the commencement date. When there is a lease modification, including a change in lease term, the Company reassess its classification and remeasures the ROU asset and lease liability. For the existing leases that were entered prior to January 1, 2019, the Company applied the package of practical expedients and elected not to reassess its existing leases and land easements, as well as the lease classifications and capitalized initial direct costs for those leases. ROU lease liabilities are measured based on the present value of fixed lease payments over the lease term. ROU assets consist of (i) initial measurement of the lease liability; (ii) lease payments made to the lessor at or before the commencement date less any lease incentives received; and (iii) initial direct costs incurred by the Company. Lease payments may vary because of changes in facts or circumstances occurring after the commencement, including changes in inflation indices. Variable lease payments that depend on an index or a rate (such as the Consumer Price Index or a market interest rate) are included in the measurement of ROU assets and lease liabilities using the index or rate at the commencement date. Subsequent changes to lease payments based on changes to the index and rate are accounted for as variable lease payments and recognized in the period they are incurred. Variable lease payments that do not depend on an index or a rate are excluded from the measurement of ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. Since most of the Company's leases do not provide an implicit rate, the Company uses its own incremental borrowing rate ("IBR") on a collateralized basis in determining the present value of lease payments. The Company utilizes a market-based approach to estimate the IBR. The approach requires significant judgment. Therefore, the Company utilizes different data sets to estimate IBRs via an analysis of (i) yields on comparable credit rating composite curves; (ii) sovereign rates; (iii) yields on our outstanding public debt; and (iv) indicative pricing on both secured and unsecured debt received from potential lenders. The Company also applies adjustments to account for considerations related to (i) tenor; and (ii) country credit rating that may not be fully incorporated by the aforementioned data sets. The majority of the Company's lease arrangements include options to extend the lease. If the Company is reasonably certain to exercise such options, the periods covered by the options are included in the lease term. The depreciable lives of certain fixed assets and leasehold improvements are limited by the expected lease term. The Company has certain leases with an initial term of 12 months or less. For such leases, the Company elected not to recognize any ROU asset or lease liability on the consolidated balance sheet. The Company has lease agreements with lease and non-lease components. The Company elected to account for the lease and non-lease components as a single lease component for all classes of underlying assets for which the Company has identified lease arrangements. For further information on leases, see Note 10 below. Revenue Revenue Recognition Equinix derives more than 90% of its revenues from recurring revenue streams, consisting primarily of (1) colocation, which includes the licensing of cabinet space and power; (2) interconnection offerings, such as cross connects and Equinix Exchange ports; (3) managed infrastructure solutions and (4) other revenues consisting of rental income from tenants or subtenants. The remainder of the Company's revenues are from non-recurring revenue streams, such as installation revenues, professional services, contract settlements and equipment sales. Revenues by service lines and geographic areas are included in segment information. For further information on segment information, see Note 17 below. Under the revenue accounting guidance, revenues are recognized when control of these products and services is transferred to its customers, in an amount that reflects the consideration it expects to be entitled to in exchange for the products and services. Revenues from recurring revenue streams are generally billed monthly and recognized ratably over the term of the contract, generally 1 to 3 years for IBX data center colocation customers. Non-recurring installation fees, although generally paid upfront upon installation, are deferred and recognized ratably over the contract term. Professional service fees and equipment sales are recognized in the period when the services were provided. For the contracts with customers that contain multiple performance obligations, the Company accounts for individual performance obligations separately if they are distinct or as a series of distinct obligations if the individual performance obligations meet the series criteria. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. The transaction price is allocated to the separate performance obligation on a relative standalone selling price basis. The standalone selling price is determined based on overall pricing objectives, taking into consideration market conditions, geographic locations and other factors. Other judgments include determining if any variable consideration should be included in the total contract value of the arrang |
Revenue Recognition
Revenue Recognition | 12 Months Ended |
Dec. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | Revenue Recognition Contract Balances The following table summarizes the opening and closing balances of the Company's accounts receivable, net; contract assets, current; contract assets, non-current; deferred revenue, current; and deferred revenue, non-current (in thousands): Accounts receivable, net Contract assets, current Contract assets, non-current Deferred revenue, current Deferred revenue, non-current Beginning balances as of January 1, 2020 $ 689,134 $ 10,033 $ 31,521 $ 76,193 $ 46,555 Closing balances as of December 31, 2020 676,738 13,534 54,050 101,258 71,242 Increase/(decrease) $ (12,396) $ 3,501 $ 22,529 $ 25,065 $ 24,687 Beginning balances as of January 1, 2019 $ 630,119 $ 9,778 $ 16,396 $ 73,143 $ 46,641 Closing balances as of December 31, 2019 689,134 10,033 31,521 76,193 46,555 Increase/(decrease) $ 59,015 $ 255 $ 15,125 $ 3,050 $ (86) The difference between the opening and closing balances of the Company's accounts receivable, net, contract assets and deferred revenues primarily results from revenue growth and the timing difference between the satisfaction of the Company's performance obligation and the customer's payment, as well as business combinations closed during the years ended December 31, 2020 and 2019. The amounts of revenue recognized during the years ended December 31, 2020, 2019 and 2018 from the opening deferred revenue balance were $87.0 million, $87.3 million and $81.8 million, respectively. For the years ended December 31, 2020, 2019 and 2018, no impairment loss related to contract balances was recognized in the consolidated statement of operations. Contract Costs The ending balances of net capitalized contract costs as of December 31, 2020 and 2019 were $268.0 million and $229.2 million, respectively, which were included in other assets in the consolidated balance sheet. $85.4 million, $72.9 million, and $73.1 million of contract costs were amortized during years ended December 31, 2020, 2019, and 2018, respectively, which were included in sales and marketing expense in the consolidated statement of operations. Remaining performance obligations As of December 31, 2020, approximately $8.4 billion of total revenues, including deferred installation revenues are expected to be recognized in future periods, the majority of which will be recognized over the next 24 months. While initial contract terms vary in length, substantially all contracts thereafter automatically renew in one-year increments. Included in the remaining performance obligations is either 1) remaining performance obligations under the initial contract terms or 2) remaining performance obligations related to contracts in the renewal period once the initial terms have lapsed. The remaining performance obligations do not include variable consideration related to unsatisfied performance obligations such as the usage of metered power, service fees from xScale TM |
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 31, 2020 | |
Business Combinations [Abstract] | |
Acquisitions | Acquisitions 2020 Acquisitions Acquisition of Bell Data Centers (the "Bell Acquisition") On October 1, 2020, the Company completed the acquisition of 12 data center sites across Canada from BCE Bell, with one additional data center in Ottawa Canada acquired on November 2, 2020, for a total combined purchase consideration of approximately C$931.7 million, or $702.0 million at the exchange rates in effect on those dates. The acquisition supports the Company’s ongoing expansion to meet customer demand in Canada. Acquisition of Packet (the "Packet Acquisition") On March 2, 2020, the Company acquired all outstanding shares and equity awards of Packet, a leading bare metal automation platform for total purchase consideration of approximately $290.3 million in cash. In connection with the close of the transaction, the Company paid $16.1 million in cash to accelerate the vesting of unvested Packet equity awards for certain Packet employees, which was recorded as stock-based compensation expense. The Company also issued restricted stock awards with an aggregated fair value of $30.2 million and a three-year vesting period, which will be recognized as stock-based compensation costs over the vesting period. The acquisition, combined with Equinix Metal TM , is expected to accelerate the Company's strategy to help enterprises deploy hybrid multicloud architectures on Equinix's data center platform. Acquisition of data centers from Axtel (the "Axtel Acquisition") On January 8, 2020, the Company completed the acquisition of three data centers in Mexico from Axtel for a total purchase consideration of approximately $189.0 million, including $175.0 million in cash and $14.0 million the Company paid to the seller for recoverable value-added taxes ("VAT") incurred prior to the acquisition, which related to a corresponding VAT receivable acquired. The acquisition supports the Company’s ongoing expansion to meet customer demand in the Americas region. Purchase price allocation These acquisitions constitute businesses under the accounting standard for business combinations and, therefore, were accounted for as business combinations using the acquisition method of accounting. Under the acquisition method of accounting, the total purchase price is allocated to the assets acquired and liabilities assumed measured at fair value on the date of acquisition. As of December 31, 2020, the Company completed the detailed valuation analysis and the final allocation of purchase price for the Packet Acquisition and the Axtel Acquisition. The Company continues to review the detailed valuation analysis to derive the fair value of assets acquired and liabilities assumed from the Bell Acquisition, including property, plant and equipment, intangible assets and the related tax impacts; therefore, the purchase price allocation is based on provisional estimates and subject to continuing management analysis. A summary of the final allocation of total purchase consideration is presented as follows (in thousands): Bell Packet (1) Axtel (2) Provisional Final Cash and cash equivalents $ — $ 1,068 $ — Accounts receivable — 5,098 — Other current assets 803 299 14,048 Property, plant and equipment 538,717 27,945 76,407 Operating lease right-of-use assets 14,359 1,519 1,646 Intangible assets 75,631 58,500 22,750 Goodwill 170,548 230,620 78,902 Deferred tax and other assets 722 138 — Total assets acquired 800,780 325,187 193,753 Accounts payable and accrued liabilities (895) (1,275) (238) Other current liabilities — (860) — Operating lease liabilities (13,340) (1,519) (1,586) Finance lease liabilities (80,026) (27,945) — Deferred tax and other liabilities (4,495) (3,290) (2,911) Net assets acquired $ 702,024 $ 290,298 $ 189,018 (1) For the Packet Acquisition, the adjustments made from the provisional amounts reported as of March 31, 2020 primarily resulted in a decrease in intangible assets of $10.1 million and an increase in goodwill of $7.5 million. The changes in fair value of acquired assets and liabilities assumed did not have a significant impact on the Company's results of operations for any reporting periods prior to December 31, 2020. (2) For the Axtel Acquisition, there were no purchase price allocation adjustments since the provisional amounts reported as of March 31, 2020. Property, plant and equipment - The fair values of property, plant and equipment acquired from these three acquisitions were estimated by applying the cost approach, with the exception of land, which was estimated by applying the market approach. The key assumptions of the cost approach include replacement cost new, physical deterioration, functional and economic obsolescence, economic useful life, remaining useful life, age and effective age. Intangible assets - The following table presents certain information on the acquired intangible assets (in thousands): Intangible Assets Fair Value Estimated Useful Lives (Years) Weighted-average Estimated Useful Lives (Years) Bell: Customer relationships $ 75,631 15.0 15.0 Packet: Trade names 1,300 3.0 3.0 Existing technology 5,100 3.0 3.0 Customer relationships 52,100 10.0 10.0 Axtel: Customer relationships 22,750 15.0 15.0 The fair values of customer relationships acquired from these acquisitions were estimated from applying an income approach, by calculating the present value of estimated future operating cash flows generated from existing customers less costs to realize the revenue. The Company applied a discount rate of 8.0% for Bell, 8.0% for Packet and 13.3% for Axtel, which reflects the nature of the assets as they relate to the risk and uncertainty of the estimated future operating cash flows, as well as the risk of the country within which the acquired business operates. The fair value of the Packet trade name was estimated using the relief from royalty method under the income approach. The Company applied a relief from royalty rate of 1.0% and a discount rate of 8.0%. The fair value of existing technology was estimated under the cost approach by projecting the cost to recreate a new asset with an equivalent utility of the existing technology. The key assumptions of the cost approach include total cost, time to recreate and functional obsolescence. Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired and liabilities assumed. Goodwill is attributable to the workforce of the acquired business and the projected revenue increase expected to arise from future customers after these acquisitions. Goodwill from these acquisitions is attributable to the Company's Americas region. Goodwill from the Bell Acquisition is expected to be deductible for local tax purposes while goodwill from the Packet and Axtel Acquisitions are not amortizable for local tax purposes. Revenues and net income and loss from operations The operating results of these three acquisitions are reported in the Americas region following the dates of acquisitions. During the year ended December 31, 2020, the Company's results of operations include $78.0 million of revenues and $41.0 million of net loss from operations from the Bell, Packet and Axtel Acquisitions. The net loss during the year ended December 31, 2020 was partially attributable to the $16.1 million stock-based compensation expense incurred to accelerate the vesting of certain Packet employees’ unvested Packet equity awards at the close of the Packet Acquisition. Transaction costs During the year ended December 31, 2020, the Company incurred total transaction costs of $36.5 million for these three acquisitions. Pending Acquisition On August 7, 2020, the Company entered into an agreement to purchase the India operations of GPX Global Systems, Inc. ("GPX India"), representing two data centers in Mumbai, India for approximately $161.0 million in an all-cash transaction (the “GPX India Acquisition”). The GPX India Acquisition is expected to close in the second quarter of 2021, subject to customary closing conditions including regulatory approval. Upon the close of the acquisition, the operating results of the acquired business will be reported in the Asia-Pacific region. 2019 Acquisition On April 18, 2019, the Company completed the acquisition of Switch Datacenters' AMS1 data center business in Amsterdam, Netherlands, for a cash purchase price of approximately €30.6 million or approximately $34.3 million, at the exchange rate in effect on April 18, 2019. As of September 30, 2019, the Company had completed the detailed valuation analysis to derive the fair value of assets acquired and liabilities assumed and updated the final allocation of purchase price. 2018 Acquisitions On April 18, 2018, the Company acquired all of the equity interests in Metronode from the Ontario Teachers' Pension Plan Board for a cash purchase price of A$1.034 billion, or approximately $804.6 million at the exchange rate in effect on April 18, 2018. Metronode operated 10 data centers in six metro areas in Australia. On April 2, 2018, the Company completed the acquisition of Infomart Dallas, including its operations and tenants, from ASB Real Estate Investments, for total consideration of approximately $804.0 million. Upon acquisition, the Company effectively terminated the leases and settled the related financing obligations and other liabilities related to the leases for approximately $170.3 million and $1.9 million, respectively, and recognized a loss on debt extinguishment of $19.5 million. The Company incurred transaction costs of approximately $31.1 million during the year ended December 31, 2018 for both acquisitions. The Company's results of operations include $78.7 million of revenues and an |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share The following table sets forth the computation of basic and diluted EPS for the years ended December 31 (in thousands, except per share amounts): 2020 2019 2018 Net income $ 370,074 $ 507,245 $ 365,359 Net (income) loss attributable to non-controlling interests (297) 205 — Net income attributable to Equinix $ 369,777 $ 507,450 $ 365,359 Weighted-average shares used to calculate basic EPS 87,700 84,140 79,779 Effect of dilutive securities: Employee equity awards 710 539 418 Weighted-average shares used to calculate diluted EPS 88,410 84,679 80,197 EPS attributable to Equinix: Basic EPS $ 4.22 $ 6.03 $ 4.58 Diluted EPS $ 4.18 $ 5.99 $ 4.56 The following table sets forth potential shares of common stock that are not included in the diluted EPS calculation above because to do so would be anti-dilutive for the years ended December 31 (in thousands): 2020 2019 2018 Common stock related to employee equity awards 19 21 265 Total 19 21 265 |
Assets Held for Sale
Assets Held for Sale | 12 Months Ended |
Dec. 31, 2020 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Assets Held for Sale | Assets Held for Sale Sale of xScale™ data center facilities in Europe In June 2019, the Company entered into an agreement to form a joint venture in the form of a limited liability partnership with GIC Private Limited, Singapore's sovereign wealth fund ("GIC") (the "EMEA Joint Venture"), to develop and operate xScale ™ data centers in Europe, with ownership upon close for GIC and the Company being established at 80% and 20%, respectively. In connection with the transaction, the Company agreed to sell its London 10 and Paris 8 data centers, as well as certain construction development and leases in London and Frankfurt to the EMEA Joint Venture. The assets and liabilities of these data center sites, which were included within the Company's EMEA region, were classified as held for sale as of June 30, 2019. On October 8, 2019, the Company closed the transaction, including the sale of these sites to the EMEA Joint Venture in exchange for a total consideration, which is comprised of 1) net cash proceeds of $351.8 million and 2) contingent consideration with fair value of approximately $39.3 million, receivable upon completion of certain performance milestones, primarily contingent on the local regulatory approvals for certain sites. As part of the transaction, the Company recorded liabilities of $41.4 million within other liabilities on the consolidated balance sheet, which represents its obligation to complete future construction for certain sites sold. During the year ended December 31, 2019, the Company recognized a total gain of $45.1 million on the sale of these xScale™ data center facilities. In September 2020, the Company entered into an agreement to sell its Paris 9 ("PA9") data center to the EMEA Joint Venture. The assets and liabilities of the PA9 data center, which were included within the Company's EMEA region, were classified as held for sale as of September 30, 2020. On December 15, 2020, the Company closed the transaction for a total consideration of $131.5 million, which is comprised of 1) cash proceeds of $124.6 million, 2) a contract asset with a fair value of $5.6 million and 3) an insignificant amount of contingent consideration that is receivable upon completion of certain performance milestones. During the year ended December 31, 2020, the Company recognized an insignificant loss on the sale of the PA9 data center. In connection with this transaction, the Company has a commitment with the EMEA Joint Venture to complete a residual portion of the PA9 data center for an estimated cost of $17.7 million on December 31, 2020, reimbursable upon completion. The contingent consideration recognized on both EMEA Joint Venture transactions are considered derivatives and are remeasured at fair value each reporting period using inputs such as probabilities of payment, discount rates, foreign currency forward rates and projected payment dates. The fair value measurements were based on significant inputs that are not observable in the market and thus represent Level 3 measurements. As of December 31, 2020 and 2019, the total fair value of the contingent consideration was $44.2 million and $40.1 million, respectively, which was included in other current assets and other assets on the consolidated balance sheet. Changes in the fair value of the contingent consideration were recorded in gain (loss) on asset sales on the consolidated statement of operations. Sale of xScale™ data center facilities in Asia-Pacific In April 2020, the Company entered into an agreement to form its second joint venture in the form of a limited liability partnership with GIC to develop and operate xScale ™ data centers in Asia-Pacific (the “Asia-Pacific Joint Venture”), with ownership upon close for GIC and the Company being established at 80% and 20%, respectively. The assets and liabilities of three Japan xScale ™ data center sites, the Osaka 2, Tokyo 12, and Tokyo 14 development sites, which were included within the Company's Asia-Pacific region, were classified as held for sale as of June 30, 2020. In the third quarter of 2020, the Company recorded an impairment charge of $7.3 million, reducing the carrying value of the development site assets to the estimated fair value less cost to sell. On December 17, 2020, the Company closed the transaction including the sale of the three development sites to the Asia-Pacific Joint Venture in exchange for $209.8 million of cash proceeds and $15.6 million of receivables. During the year ended December 31, 2020, the Company recognized an insignificant gain on the sale of these xScale ™ data center development sites. The Company's investments in the EMEA Joint Venture and the Asia-Pacific Joint Venture are accounted for using the equity method of accounting. For further information, see Note 6 below. Sale of New York 12 ("NY12") data center In January 2019, the Company entered into an agreement to sell its NY12 data center, which was reported in its Americas' region. The assets of the NY12 data center to be divested were classified as held for sale as of March 31, 2019. During the year ended December 31, 2019, the Company recorded an impairment charge of $15.8 million, reducing the carrying value of NY12 assets to the estimated fair value less cost to sell. The transaction closed in October 2019 and the gain on sale recognized was insignificant. |
Equity Method Investments
Equity Method Investments | 12 Months Ended |
Dec. 31, 2020 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments | Equity Method Investments The following table summarizes the equity method investments as of December 31 (in thousands): Investee Ownership Percentage 2020 2019 EMEA Joint Venture with GIC 20 % $ 101,892 $ 51,092 Asia-Pacific Joint Venture with GIC 20 % 43,432 — Other Various 17,747 8,645 Total $ 163,071 $ 59,737 EMEA Joint Venture As described in Note 5 above, the Company and GIC closed the EMEA Joint Venture transaction on October 8, 2019. The Company concluded the EMEA Joint Venture is not a VIE because its equity investors have the characteristics of a controlling financial interest and it is sufficiently capitalized to sustain its operations, requiring additional funding from its partners only when expanding operations. Upon closing the EMEA Joint Venture, the Company recorded its initial 20% partnership interest at fair value of $41.9 million, which was subsequently adjusted for cash contributions and the Company's share of the income and losses of the investees. During the year ended December 31, 2020, the Company made additional equity contributions of $48.0 million to the EMEA Joint Venture, including an additional contribution of $10.6 million in connection with the sale of the PA9 data center. The Company's share of income and losses of equity method investments from this joint venture, which is attributable to the Company's EMEA region, was insignificant for the years ended December 31, 2020 and 2019 and was included in other income on the consolidated statement of operations. The Company committed to make future equity contributions to the EMEA Joint Venture for funding its future development. As of December 31, 2020, the Company had future equity contribution commitments of €13.8 million and £6.6 million, or $25.8 million in total at the exchange rate in effect on December 31, 2020. Variable Interest Entity Asia-Pacific Joint Venture As described in Note 5 above, the Company closed the Asia-Pacific Joint Venture with GIC on December 17, 2020 to develop and operate xScale ™ data centers in the Asia-Pacific region. The Company provides certain management services to the Asia-Pacific Joint Venture operations and earns fees based on those services and performance. The Asia-Pacific Joint Venture requires additional funding from its partners in order to sustain its current operations. As a result, it was determined to be a VIE. The power to direct the activities of the Asia-Pacific Joint Venture that most significantly impact economic performance is shared equally by both partners. These activities include data center construction and operations, sales and marketing, financing, and real estate purchases or sales. Decisions about these activities require the consent of both the Company and GIC. The Company concluded that neither party is deemed to have predominant control over the Asia-Pacific Joint Venture and neither party is its primary beneficiary. Upon closing the Asia-Pacific Joint Venture, the Company recorded its initial 20% partnership interest at fair value of ¥4.4 billion or $42.8 million in total at the exchange rate in effect on December 31, 2020. The Company's share of income and losses of equity method investments from this joint venture, which was attributable to the Company's Asia-Pacific region, was not significant for the period from the closing date through December 31, 2020. The Company committed to make future equity contributions to the Asia-Pacific Joint Venture for funding its future development. As of December 31, 2020, the Company had future equity contribution commitments of ¥6.3 billion, or $60.7 million in total at the exchange rate in effect on December 31, 2020. In addition to the investment in Asia-Pacific Joint Venture, the company also had ¥1.7 billion or $16.9 million, in total at the exchange rate in effect on December 31, 2020, of receivables from the Asia-Pacific Joint Venture relating to purchase price adjustments on the sale of data center assets as well as amounts due under commercial service agreements, which were presented within accounts receivable, net on the consolidated balance sheet as of December 31, 2020. Concurrent with the closing of the Asia-Pacific Joint Venture, the Asia-Pacific Joint Venture entered into a credit facility agreement and a bond agreement with a group of lenders for secured debt facilities of ¥21.5 billion and ¥10.0 billion, respectively, or $305.2 million in total at the exchange rate in effect on December 31, 2020. The Asia-Pacific Joint Venture’s debt is secured by net assets of the Asia-Pacific Joint Venture and is without recourse to the partners. Under the Asia-Pacific Joint Venture agreement and pursuant to the credit facility and bond agreements, the Company and its joint venture partner GIC are also required to make additional equity contributions proportionately upon occurrences such as an interest shortfall, cost-overrun or a capital shortfall needed to complete certain construction phases. |
Balance Sheet Components
Balance Sheet Components | 12 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Balance Sheet Components | Balance Sheet Components Cash, Cash Equivalents and Short-Term Investments Cash, cash equivalents and short-term investments consisted of the following as of December 31 (in thousands): 2020 2019 Cash and cash equivalents: Cash $ 993,798 $ 983,030 Cash equivalents: Money market funds 611,071 886,547 Total cash and cash equivalents 1,604,869 1,869,577 Short-term investments: Certificates of deposit 4,373 7,583 Publicly traded equity securities 159 2,779 Total short-term investments 4,532 10,362 Total cash, cash equivalents and short-term investments $ 1,609,401 $ 1,879,939 As of December 31, 2020 and 2019, cash and cash equivalents included investments which were readily convertible to cash and had original maturity dates of 90 days or less. The maturities of certificates of deposit classified as short-term investments were one year or less as of December 31, 2020 and 2019. The Company does not have any certificates of deposits with maturities greater than one year as of December 31, 2020 and 2019. Accounts Receivable Trade accounts receivable are recorded at the invoiced amount and generally do not bear interest. Accounts receivable, net, consisted of the following as of December 31 (in thousands): 2020 2019 Accounts receivable $ 687,415 $ 702,160 Allowance for credit losses (10,677) (13,026) Accounts receivable, net $ 676,738 $ 689,134 The following table summarizes the activity of the Company's allowance for credit losses (in thousands): Balance as of December 31, 2017 $ 18,228 Provision for doubtful accounts 7,236 Net write-offs (8,396) Impact of foreign currency exchange (1,118) Balance as of December 31, 2018 15,950 Provision for doubtful accounts 8,459 Net write-offs (11,341) Impact of foreign currency exchange (42) Balance as of December 31, 2019 13,026 Adjustments due to adoption of ASU 2016-13 900 Provision for credit losses 5,069 Net write-offs (10,050) Impact of foreign currency exchange 1,732 Balance as of December 31, 2020 $ 10,677 Other Current Assets Other current assets consisted of the following as of December 31 (in thousands): 2020 2019 Prepaid expenses $ 61,424 $ 55,954 Taxes receivable 125,614 122,823 Restricted cash, current 11,135 7,090 Other receivables 44,333 36,350 Derivative instruments 8,906 25,426 Contract assets, current 13,534 10,033 Other current assets (1) 58,070 45,867 Total other current assets $ 323,016 $ 303,543 (1) Other current assets included $44.2 million and $34.3 million of the current portion of the fair value of the contingent consideration from the sale of xScale ™ data center facilities to the EMEA Joint Venture as of December 31, 2020 and 2019, respectively. See Note 5 for further discussion. Property, Plant and Equipment, Net Property, plant and equipment, net consisted of the following as of December 31 (in thousands): 2020 2019 Core systems $ 9,659,908 $ 8,131,835 Buildings 6,557,121 5,398,525 Leasehold improvements 1,946,644 1,764,058 Construction in progress 1,363,917 1,002,104 Personal property (1) 1,207,669 1,009,701 Land 944,094 781,024 21,679,353 18,087,247 Less accumulated depreciation (7,176,269) (5,934,650) Property, plant and equipment, net $ 14,503,084 $ 12,152,597 (1) Personal property included $885.5 million and $687.4 million of capitalized internal-use software as of December 31, 2020 and 2019, respectively. Goodwill and Other Intangibles The following table presents goodwill and other intangible assets, net, for the years ended December 31, 2020 and 2019 (in thousands): 2020 2019 Goodwill: Americas $ 2,212,782 $ 1,741,689 EMEA 2,611,166 2,426,306 Asia-Pacific 648,605 613,863 $ 5,472,553 $ 4,781,858 Intangible assets, net: Intangible assets - customer relationships $ 2,891,060 $ 2,712,701 Intangible assets - trade names 11,512 46,601 Intangible assets - in-place leases 33,770 33,295 Intangible assets - licenses 9,697 9,697 Intangible assets - at-the-money lease contracts (1) 64,905 — Intangible assets - other 12,802 6,402 3,023,746 2,808,696 Accumulated amortization - customer relationships (818,370) (646,632) Accumulated amortization - trade names (2,337) (37,885) Accumulated amortization - in-place leases (20,037) (14,329) Accumulated amortization - licenses (6,600) (4,529) Accumulated amortization - other (5,457) (2,932) (852,801) (706,307) Total intangible assets, net $ 2,170,945 $ 2,102,389 (1) In December 2020, the Company acquired an at-the-money lease contract intangible asset through an asset acquisition in Amsterdam. This intangible asset represents premiums paid to acquire a land lease at market terms. The lease has a remaining lease term of 12 years with available renewal options in 50-year increments. The intangible asset has an estimated amortization period of 12 years. The total purchase consideration for this asset acquisition was $49.4 million and the Company recorded $16.1 million of deferred tax liability in connection with this purchase. The transaction was accounted for as an asset acquisition since substantially all of the fair value of the acquired assets is for the identified at-the-money lease intangible asset. Changes in the carrying amount of goodwill by geographic regions are as follows (in thousands): Americas EMEA Asia-Pacific Total Balance as of December 31, 2018 $ 1,745,804 $ 2,474,164 $ 616,420 $ 4,836,388 Purchase accounting - acquisition — 25,863 (3,683) 22,180 Sale of xScale data center facilities — (59,246) — (59,246) Sale of NY12 data center (950) — — (950) Impact of foreign currency exchange (3,165) (14,475) 1,126 (16,514) Balance as of December 31, 2019 1,741,689 2,426,306 613,863 4,781,858 Purchase of Packet 230,620 — — 230,620 Purchase of Bell 170,548 — — 170,548 Purchase of Axtel 78,902 — — 78,902 Sale of xScale data center facilities — — (7,306) (7,306) Impact of foreign currency exchange (8,977) 184,860 42,048 217,931 Balance as of December 31, 2020 $ 2,212,782 $ 2,611,166 $ 648,605 $ 5,472,553 Changes in the net book value of intangible assets by geographic regions are as follows (in thousands): Americas EMEA Asia-Pacific Total Balance as of December 31, 2017 $ 1,646,373 $ 631,219 $ 107,380 $ 2,384,972 Infomart Dallas acquisition 65,847 — — 65,847 Metronode acquisition — — 128,229 128,229 Other acquisitions — 8,342 — 8,342 Write-off of intangible asset (334) (1,661) (3) (1,998) Amortization of intangibles (125,683) (62,283) (15,450) (203,416) Impact of foreign currency exchange (7,232) (31,757) (9,691) (48,680) Balance as of December 31, 2018 1,578,971 543,860 210,465 2,333,296 ASC 842 adoption adjustment (108) (20,692) (2,405) (23,205) Switch AMS1 data center acquisition — 4,889 — 4,889 Asset sales - NY12 data center (8,412) — — (8,412) Other — 1,096 472 1,568 Amortization of intangibles (125,390) (54,432) (16,456) (196,278) Impact of foreign currency exchange (1,769) (8,157) 457 (9,469) Balance as of December 31, 2019 1,443,292 466,564 192,533 2,102,389 Axtel acquisition 22,750 — — 22,750 Packet acquisition 58,500 — — 58,500 Bell acquisition 75,631 — — 75,631 Other asset acquisition (1) — 64,905 — 64,905 Amortization of intangibles (133,608) (49,417) (16,022) (199,047) Impact of foreign currency exchange (3,476) 35,975 13,318 45,817 Balance as of December 31, 2020 $ 1,463,089 $ 518,027 $ 189,829 $ 2,170,945 (1) For further discussion, refer to footnote 1 of the table on the previous page. The Company's goodwill and intangible assets which are denominated in currencies other than the U.S. Dollar are subject to foreign currency fluctuations. The Company's foreign currency translation gains and losses, including goodwill and intangibles, are a component of other comprehensive income and loss. Estimated future amortization expense related to these intangibles is as follows (in thousands): Years ending: 2021 $ 206,244 2022 201,455 2023 199,698 2024 198,323 2025 195,742 Thereafter 1,169,483 Total $ 2,170,945 Other Assets Other assets consisted of the following as of December 31 (in thousands): 2020 2019 Deferred tax assets, net $ 66,424 $ 35,806 Prepaid expenses (1) 82,443 61,690 Debt issuance costs, net 4,261 6,395 Deposits 69,043 56,567 Restricted cash 9,691 9,946 Derivative instruments 2,793 32,280 Contract assets, non-current 54,050 31,521 Contract costs 267,978 229,205 Equity method investments 163,071 59,737 Other assets (2) 56,293 57,641 Total other assets $ 776,047 $ 580,788 (1) As of December 31, 2020, the Company had $21.1 million of capitalized CCA implementation costs, net. (2) In connection with the Metronode Acquisition in 2018, the Company had indemnification assets of $42.8 million and $37.7 million, as of December 31, 2020 and 2019, respectively, which represented the seller's obligation under the purchase agreement to reimburse pre-acquisition tax liabilities settled after the acquisition. Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consisted of the following as of December 31 (in thousands): 2020 2019 Accounts payable $ 77,705 $ 52,232 Accrued compensation and benefits 317,117 241,361 Accrued interest 79,437 103,345 Accrued taxes (1) 153,804 135,099 Accrued utilities and security 76,910 107,404 Accrued other 139,889 121,277 Total accounts payable and accrued expenses $ 844,862 $ 760,718 (1) Accrued taxes included income taxes payable of $59.8 million and $57.7 million as of December 31, 2020 and 2019, respectively. Other Current Liabilities Other current liabilities consisted of the following as of December 31 (in thousands): 2020 2019 Deferred revenue, current $ 101,258 $ 76,193 Customer deposits 17,115 16,707 Derivative instruments 188,726 31,596 Dividends payable, current 10,873 9,029 Asset retirement obligations 3,993 2,081 Other current liabilities 32,403 18,332 Total other current liabilities $ 354,368 $ 153,938 Other Liabilities Other liabilities consisted of the following as of December 31 (in thousands): 2020 2019 Asset retirement obligations $ 109,776 $ 100,334 Deferred tax liabilities, net 290,366 247,179 Deferred revenue, non-current 71,242 46,555 Accrued taxes 178,371 146,046 Dividends payable, non-current 7,947 7,108 Customer deposits 1,088 9,306 Derivative instruments 211,733 4,017 Other liabilities (1) 78,476 61,180 Total other liabilities $ 948,999 $ 621,725 (1) Other liabilities included $46.0 million and $41.4 million of the Company’s obligation to pay for future construction for certain sites sold as a part of the EMEA Joint Venture transaction as of December 31, 2020 and 2019, respectively. See Note 5 for further discussion. The following table summarizes the activities of the Company's asset retirement obligation ("ARO") (in thousands): Asset retirement obligations as of December 31, 2017 $ 98,539 Additions 5,126 Adjustments (1) (11,288) Accretion expense 6,285 Impact of foreign currency exchange (1,999) Asset retirement obligations as of December 31, 2018 96,663 Additions 6,980 Adjustments (1) (7,969) Accretion expense 6,290 Impact of foreign currency exchange 451 Asset retirement obligations as of December 31, 2019 102,415 Additions 5,909 Adjustments (1) (4,241) Accretion expense 6,331 Impact of foreign currency exchange 3,355 Asset retirement obligations as of December 31, 2020 $ 113,769 (1) The ARO adjustments are primarily due to lease amendments and acquisition of real estate assets, as well as other adjustments. |
Derivatives and Hedging Instrum
Derivatives and Hedging Instruments | 12 Months Ended |
Dec. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Instruments | Derivatives and Hedging Instruments Derivatives Designated as Hedging Instruments Net Investment Hedges. The Company is exposed to the impact of foreign exchange rate fluctuations on the value of investments in its foreign subsidiaries whose functional currencies are other than the U.S. Dollar. In order to mitigate the impact of foreign currency exchange rates, the Company has entered into various foreign currency debt obligations, which are designated as hedges against the Company's net investments in foreign subsidiaries. As of December 31, 2020 and 2019, the total principal amounts of foreign currency debt obligations designated as net investment hedges were $1.9 billion and $4.1 billion, respectively. The Company also uses cross-currency interest rate swaps to hedge a portion of its net investment in its European operations. As of December 31, 2020, U.S. Dollar to Euro cross-currency interest rate swap contracts with a total notional amount of $3.3 billion were outstanding, with maturity dates from April 2022 to November 2026. As of December 31, 2019, U.S. Dollar to Euro cross-currency interest rate swap contracts with a total notional amount of $750.0 million were outstanding, with maturity dates from April 2022 to January 2025. At maturity of each outstanding contract, the Company will receive U.S. Dollars from and pay Euros to the contract counterparty. During the term of each contract, the Company receives interest payments in U.S. Dollars and makes interest payments in Euros based on a notional amount and fixed interest rates determined at contract inception. From time to time, the Company uses foreign currency forward contracts to hedge against the effect of foreign exchange rate fluctuations on a portion of its net investment in its foreign subsidiaries. As of December 31, 2020, the total notional amount of foreign currency forward contracts designated as net investment hedges was $355.6 million. The Company had no foreign currency forward contracts designated as net investment hedges outstanding as of December 31, 2019. The effect of net investment hedges on accumulated other comprehensive income and the consolidated statements of operations for the years ended December 31, 2020, 2019 and 2018 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Years Ended December 31, 2020 2019 2018 Foreign currency debt $ (208,281) $ 47,033 $ 218,269 Cross-currency interest rate swaps (included component) (1) (218,843) 15,514 — Cross-currency interest rate swaps (excluded component) (2) (347) 10,737 — Foreign currency forward contracts (included component) (1) (17,115) — — Foreign currency forward contracts (excluded component) (3) 32 — — Total $ (444,554) $ 73,284 $ 218,269 Amount of gain or (loss) recognized in earnings: Location of gain or (loss) Years Ended December 31, 2020 2019 2018 Cross-currency interest rate swaps (excluded component) (2) Interest expense $ 27,196 $ 19,261 $ — Foreign currency forward contracts (excluded component) (3) Interest expense 42 — — Total $ 27,238 $ 19,261 $ — (1) Included component represents foreign exchange spot rates. (2) Excluded component represents cross-currency basis spread and interest rates. (3) Excluded component represents foreign currency forward points. Cash Flow Hedges . The Company hedges its foreign currency translation exposure for forecasted revenues and expenses in its EMEA region between the U.S. Dollar and the British Pound, Euro, Swedish Krona and Swiss Franc. The foreign currency forward and option contracts that the Company uses to hedge this exposure are designated as cash flow hedges. As of December 31, 2020 and 2019, the total notional amounts of these foreign exchange contracts were $912.9 million and $824.8 million, respectively. As of December 31, 2020, the Company's foreign currency cash flow hedge instruments had maturity dates ranging from January 2021 to December 2022 and the Company recorded a net loss of $35.4 million within accumulated other comprehensive income (loss) relating to cash flow hedges that will be reclassified to revenues and expenses as they mature in the next 12 months. As of December 31, 2019, the Company's foreign currency cash flow hedge instruments had maturity dates ranging from January 2020 to December 2021 and the Company recorded a net gain of $16.3 million within accumulated other comprehensive income (loss) relating to cash flow hedges that will be reclassified to revenues and expenses as they mature in the next 12 months. The Company enters into intercompany hedging instruments ("intercompany derivatives") with wholly-owned subsidiaries of the Company in order to hedge certain forecasted revenues and expenses denominated in currencies other than the U.S. Dollar. Simultaneously, the Company enters into derivative contracts with unrelated third parties to externally hedge the net exposure created by such intercompany derivatives. The Company hedges the interest rate exposure created by anticipated fixed rate debt issuances through the use of treasury locks and swap locks (collectively, interest rate locks), which are designated as cash flow hedges. As of December 31, 2020 and 2019, the Company had no interest rate locks outstanding. During the year ended December 31, 2020, interest rate locks with a combined aggregate notional amount of $1.9 billion were settled related to the issuance of Senior Notes in 2020 and anticipated issuance of Senior Notes in 2021. The settlement of these contracts during 2020, resulted in a loss of $31.6 million, which was deferred and included as a component of other comprehensive income (loss), and is being amortized to interest expense over the term of the forecasted hedged transaction which is equivalent to the term of the interest rate locks. As of December 31, 2020, the Company recorded a net loss of $4.1 million within accumulated other comprehensive income (loss) to be reclassified to interest expense in the next 12 months for interest rate locks. During the fourth quarter of 2019, interest rate locks with a combined aggregate notional amount of $1.5 billion were entered into and settled. The settlement of these contracts during the fourth quarter of 2019, resulted in a gain of $5.1 million, which was deferred and included as a component of other comprehensive income (loss), and is being amortized to interest expense over the term of the forecasted hedged transaction which is equivalent to the term of the interest rate locks. As of December 31, 2019, the net gain in accumulated other comprehensive income (loss) to be reclassified to interest expense in the next 12 months for interest rate locks was not significant. The effect of cash flow hedges on accumulated other comprehensive income and the consolidated statements of operations for the years ended December 31, 2020, 2019 and 2018 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Years Ended December 31, 2020 2019 2018 Foreign currency forward and option contracts (included component) (1) $ (68,573) $ (9,945) $ 58,227 Foreign currency option contracts (excluded component) (2) 1,655 (1,807) — Interest rate locks (30,393) 4,972 — Total $ (97,311) $ (6,780) $ 58,227 Amount of gain or (loss) reclassified from accumulated other comprehensive income to income: Years Ended December 31, Location of gain or (loss) 2020 2019 2018 Foreign currency forward contracts Revenues $ 37,198 $ 80,046 $ (30,603) Foreign currency forward contracts Costs and operating expenses (19,890) (41,262) 15,341 Interest rate locks Interest Expense (1,204) 79 — Total $ 16,104 $ 38,863 $ (15,262) Amount of gain or (loss) excluded from effectiveness testing and included in income: Years Ended December 31, Location of gain or (loss) 2020 2019 2018 Foreign currency forward contracts Other income (expense) $ — $ 88 $ 16,470 Foreign currency option contracts (excluded component) (2) Revenues (1,761) (1,082) — Total $ (1,761) $ (994) $ 16,470 (1) Included component represents foreign exchange spot rates. (2) Excluded component represents option's time value. Derivatives Not Designated as Hedging Instruments Embedded Derivatives . The Company is deemed to have foreign currency forward contracts embedded in certain of the Company's customer agreements that are priced in currencies different from the functional or local currencies of the parties involved. These embedded derivatives are separated from their host contracts and carried on the Company's balance sheet at their fair value. The majority of these embedded derivatives arise as a result of the Company's foreign subsidiaries pricing their customer contracts in U.S. Dollars. Economic Hedges of Embedded Derivatives . The Company uses foreign currency forward contracts to manage the foreign exchange risk associated with the Company's customer agreements that are priced in currencies different from the functional or local currencies of the parties involved ("economic hedges of embedded derivatives"). Foreign currency forward contracts represent agreements to exchange the currency of one country for the currency of another country at an agreed-upon price on an agreed-upon settlement date. Foreign Currency Forward Contracts . The Company also uses foreign currency forward contracts to manage the foreign exchange risk associated with certain foreign currency-denominated monetary assets and liabilities. As a result of foreign currency fluctuations, the U.S. Dollar equivalent values of its foreign currency-denominated monetary assets and liabilities change. Gains and losses on these contracts are included in other income (expense), on a net basis, along with the foreign currency gains and losses of the related foreign currency-denominated monetary assets and liabilities associated with these foreign currency forward contracts. As of December 31, 2020 and 2019, the total notional amounts of these foreign currency contracts were $3.4 billion and $2.5 billion, respectively. The following table presents the effect of derivatives not designated as hedging instruments in the Company's consolidated statements of operations (in thousands): Amount of gain or (loss) recognized in earnings: Years Ended December 31, Location of gain or (loss) 2020 2019 2018 Embedded derivatives Revenues $ (3,043) $ 63 $ 618 Economic hedge of embedded derivatives Revenues 2,142 550 (877) Foreign currency forward contracts Other income (expense) (127,648) 36,846 91,233 Total $ (128,549) $ 37,459 $ 90,974 Fair Value of Derivative Instruments The following table presents the fair value of derivative instruments recognized in the Company's consolidated balance sheets as of December 31, 2020 and 2019 (in thousands): December 31, 2020 December 31, 2019 Assets (1) Liabilities (2) Assets (1) Liabilities (2) Designated as hedging instruments: Cash flow hedges Foreign currency forward and option contracts $ 351 $ 52,804 $ 24,853 $ 5,898 Net investment hedges Cross-currency interest rate swaps — 192,939 26,251 — Foreign currency forward contracts — 17,041 — — Total designated as hedging 351 262,784 51,104 5,898 Not designated as hedging instruments: Embedded derivatives 3,255 3,858 4,595 2,268 Economic hedges of embedded derivatives 4,372 12 1,367 — Foreign currency forward contracts 3,721 133,805 641 27,446 Total not designated as hedging 11,348 137,675 6,603 29,714 Total Derivatives $ 11,699 $ 400,459 $ 57,707 $ 35,612 (1) As presented in the Company's consolidated balance sheets within other current assets and other assets. (2) As presented in the Company's consolidated balance sheets within other current liabilities and other liabilities. Offsetting Derivative Assets and Liabilities The Company presents its derivative instruments and the accrued interest related to cross-currency interest rate swaps at gross fair values in the consolidated balance sheets. The Company enters into master netting agreements with its counterparties for transactions other than embedded derivatives to mitigate credit risk exposure to any single counterparty. Master netting agreements allow for individual derivative contracts with a single counterparty to offset in the event of default. For presentation on the consolidated balance sheets, the Company does not offset fair value amounts recognized for derivative instruments or the accrued interest related to cross-currency interest rate swaps under master netting arrangements. The following table presents information related to these offsetting arrangements as of December 31, 2020 and 2019 (in thousands): Gross Amounts Offset in Gross Amounts Gross Amounts Offset in the Balance Sheet Net Amounts Gross Amounts not Offset in the Balance Sheet Net December 31, 2020 Derivative assets $ 38,447 $ — $ 38,447 $ (35,100) $ 3,347 Derivative liabilities 415,628 — 415,628 (35,100) 380,528 December 31, 2019 Derivative assets $ 76,640 $ — $ 76,640 $ (37,820) $ 38,820 Derivative liabilities 45,832 — 45,832 (37,820) 8,012 |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Valuation Methods Fair value estimates are made as of a specific point in time based on methods using the market approach valuation method which uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities or other valuation techniques. These techniques involve uncertainties and are affected by the assumptions used and the judgments made regarding risk characteristics of various financial instruments, discount rates, estimates of future cash flows, future expected loss experience and other factors. Cash Equivalents and Investments. The fair value of the Company's investments in money market funds approximates their face value. Such instruments are included in cash equivalents. The Company's money market funds and publicly traded equity securities are classified within Level 1 of the fair value hierarchy because they are valued using quoted prices for identical instruments in active markets. The fair value of the Company's other investments, including certificates of deposit, approximates their face value. The fair value of these investments is priced based on the quoted market price for similar instruments or nonbinding market prices that are corroborated by observable market data. Such instruments are classified within Level 2 of the fair value hierarchy. The Company determines the fair values of its Level 2 investments by using inputs such as actual trade data, benchmark yields, broker/dealer quotes and other similar data, which are obtained from quoted market prices, custody bank, third-party pricing vendors or other sources. The Company uses such pricing data as the primary input to make its assessments and determinations as to the ultimate valuation of its investment portfolio and has not made, during the periods presented, any material adjustments to such inputs. The Company is responsible for its consolidated financial statements and underlying estimates. The Company uses the specific identification method in computing realized gains and losses. Realized gains and losses from the sale of investments are included within other income (expense) in the Company's consolidated statements of operations. The Company's investments in publicly traded equity securities are carried at fair value. Unrealized gains and losses on publicly traded equity securities are reported within other income (expense) in the Company's consolidated statements of operations. Derivative Assets and Liabilities . Inputs used for valuations of derivatives are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant inputs are observable in the market or can be corroborated by observable market data. The significant inputs used include spot currency rates and forward points, interest rate curves, and published credit default swap rates of its foreign exchange trading counterparties and other comparable companies. The Company has determined that the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, therefore the derivatives are categorized as Level 2. Other than the assets and liabilities that were classified as held for sale as described in Note 5 above, the Company did not have any nonfinancial assets or liabilities measured at fair value on a recurring basis during the years ended December 31, 2020 and 2019. The Company's financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 were as follows (in thousands): Fair Value at December 31, 2020 Fair Value Level 1 Level 2 Assets: Money market and deposit accounts $ 611,071 $ 611,071 $ — Publicly traded equity securities 159 159 — Certificates of deposit 4,373 — 4,373 Derivative instruments (1) 11,699 — 11,699 $ 627,302 $ 611,230 $ 16,072 Liabilities: Derivative instruments (1) $ 400,459 $ — $ 400,459 (1) Amounts are included within other current assets, other assets, others current liabilities and other liabilities in the Company's accompanying consolidated balance sheet. The Company's financial assets and liabilities measured at fair value on a recurring basis at December 31, 2019 were as follows (in thousands): Fair Value at Fair Value 2019 Level 1 Level 2 Assets: Money market and deposit accounts $ 886,547 $ 886,547 $ — Publicly traded equity securities 2,779 2,779 — Certificates of deposit 7,583 — 7,583 Derivative instruments (1) 57,707 — 57,707 $ 954,616 $ 889,326 $ 65,290 Liabilities: Derivative instruments (1) $ 35,612 $ — $ 35,612 (1) Amounts are included within other current assets, other assets, others current liabilities and other liabilities in the Company's accompanying consolidated balance sheet. Other than the contingent consideration related to the EMEA Joint Venture as described in Note 6 above, the Company did not have any Level 3 financial assets or financial liabilities during the years ended December 31, 2020 and 2019. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Leases | Leases Significant Lease Transactions Silicon Valley 4 ("SV4") Data Center In February 2020, the Company exercised its first renewal option available to extend the lease term for the SV4 Data Center for five years. The Company determined that the two remaining renewal options of five Hong Kong 1 ("HK1") Data Center In March 2020, the Company entered into four lease agreements with the landlord to lease multiple premises in the HK1 Data Center. The first lease commenced in March 2020 with an initial term of 18 years with no renewal option available. The Company assessed the lease classification of that space at the commencement date and determined the lease should be accounted for as a finance lease. The Company will assess the remaining space when the leases commence. During the three months ended March 31, 2020, the Company recorded finance lease ROU asset and liability of $163.0 million Hong Kong dollars or $21.0 million at the exchange rate in effect on March 31, 2020. In November 2020, the Company took possession and commence the lease of the second space in the HK1 Data Center with an initial lease term of approximately 17 years with no renewal option available. The Company assessed the lease classification of the second space at the commencement date and determined the lease should be accounted for as a finance lease. During the three months ended December 31, 2020, the Company recorded finance lease ROU asset and liability of $65.9 million Hong Kong dollars or $8.5 million at the exchange rate in effect on December 31, 2020. Headquarters Office in Redwood City, California ("HQ Office") In April 2020, the Company entered into a lease amendment to (i) extend the lease term of the existing space for another 10.5 years and (ii) lease additional space within its HQ Office building, which commenced on June 1, 2020. Both spaces have two five-year renewal options which the Company determined were not reasonably certain to be exercised. Therefore, the concluded lease term for both spaces was approximately 11 years, expiring on March 31, 2031. The existing space was previously accounted for as a finance lease. The Company concluded that the building and land components for both spaces should be accounted for as finance leases and operating leases, respectively. During the three months ended June 30, 2020, the Company recorded incremental finance lease ROU asset and liability of $42.2 million and operating lease ROU asset and liability of $8.3 million. Singapore 1 ("SG1") Data Center In May 2020, the Company exercised a three-year renewal option on the lease of the existing space and entered into a lease agreement to lease additional space in the SG1 Data Center. The building and land were originally accounted for as a finance lease and operating lease, respectively. The Company determined the remaining five three-year renewal options were reasonably certain to be exercised and therefore, the concluded lease term was 18 years. The Company reassessed the lease classification and determined that the lease should be accounted for as finance lease. Land was determined to not be a component of the lease as the Company no longer controlled substantially all of the economic benefits from its use. The Company recorded incremental finance lease ROU asset and liability of $99.5 million Singapore dollars, or approximately $71.4 million, and de-recognized operating lease ROU asset and liability of $11.4 million Singapore dollars, or approximately $8.1 million, at the exchange rate in effect on June 30, 2020, during the three months ended June 30, 2020. Abu Dhabi 1 ("AD1") Data Center In June 2020, the Company entered into two lease agreements to lease additional space in the AD1 Data Center. The Company concluded lease terms of both leases are 10 years, inclusive of a three-year renewal option for one of the leases determined to be reasonably assured of exercise. The Company assessed the lease classifications and determined that the leases should be accounted for as finance leases. During the three months ended June 30, 2020, the Company recorded finance lease ROU assets and liabilities of 261.9 million United Arab Emirates Dirham in aggregate, or approximately $71.3 million at the exchange rate in effect on June 30, 2020. Singapore Office ("SGO") In April 2020, the Company entered into an office lease agreement, which commenced on August 1, 2020 with an initial term of seven years, two three-year renewal options and a one-time early termination option for a certain floor after the third year of the lease. The Company determined that the renewal options and the early termination option were not reasonably certain to be exercised and therefore, concluded the lease term was seven years. The Company assessed the lease classification at the commencement date and concluded that the lease should be accounted for as an operating lease. During the three months ended September 30, 2020, the Company recorded operating lease ROU asset and liability of $64.2 million Singapore dollars, or approximately $47.1 million, at the exchange rate in effect on September 30, 2020. Seoul 1 ("SL1") Data Center In September 2020, the phase 2 from a previously signed lease for the SL1 data center was delivered and commenced, with an initial lease term of approximately four years and three five Lease Expenses The components of lease expenses are as follows (in thousands): Years Ended December 31, 2020 2019 Finance lease cost Amortization of right-of-use assets (1) $ 120,169 $ 82,893 Interest on lease liabilities 113,699 110,688 Total finance lease cost 233,868 193,581 Operating lease cost 217,299 219,021 Variable lease cost 13,588 1,763 Total lease cost $ 464,755 $ 414,365 (1) Amortization of right-of-use assets is included within depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the consolidated statements of operations. Other Information Other information related to leases is as follows (in thousands, except years and percent): Years Ended December 31, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 109,558 $ 107,000 Operating cash flows from operating leases 206,512 210,848 Financing cash flows from finance leases 115,288 126,486 Right-of-use assets obtained in exchange for lease obligations: (1) Finance leases $ 487,592 $ 387,808 Operating leases 108,797 145,025 As of December 31, 2020 2019 Weighted-average remaining lease term - finance leases (2) 14 years 15 years Weighted-average remaining lease term - operating leases (2) 12 years 13 years Weighted-average discount rate - finance leases 7 % 9 % Weighted-average discount rate - operating leases 4 % 4 % Finance lease ROU assets (3) $ 1,688,032 $ 1,277,614 (1) Represents all non-cash changes in ROU assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) Finance lease ROU assets are recorded within property, plant and equipment, net on the consolidated balance sheets. As of December 31, 2020 and December 31, 2019, the Company recorded $604.1 million and $474.8 million of accumulated amortization of finance lease ROU assets, respectively. Maturities of Lease Liabilities Maturities of lease liabilities as of December 31, 2020 are as follows (in thousands): Year ended December 31, Operating Leases Finance Leases Total 2021 $ 199,291 $ 232,415 $ 431,706 2022 205,411 221,058 426,469 2023 188,724 215,909 404,633 2024 176,626 213,186 389,812 2025 165,437 209,424 374,861 Thereafter 1,032,186 1,928,094 2,960,280 Total lease payments 1,967,675 3,020,086 4,987,761 Plus amount representing residual property value — 17,331 17,331 Less imputed interest (504,841) (1,114,918) (1,619,759) Total $ 1,462,834 $ 1,922,499 $ 3,385,333 The Company entered into lease agreements in various locations that have not yet commenced as of December 31, 2020. These leases will commence between 2021 and 2022, with lease terms of 10 to 49 years and a total lease commitment of approximately $684.1 million. |
Leases | Leases Significant Lease Transactions Silicon Valley 4 ("SV4") Data Center In February 2020, the Company exercised its first renewal option available to extend the lease term for the SV4 Data Center for five years. The Company determined that the two remaining renewal options of five Hong Kong 1 ("HK1") Data Center In March 2020, the Company entered into four lease agreements with the landlord to lease multiple premises in the HK1 Data Center. The first lease commenced in March 2020 with an initial term of 18 years with no renewal option available. The Company assessed the lease classification of that space at the commencement date and determined the lease should be accounted for as a finance lease. The Company will assess the remaining space when the leases commence. During the three months ended March 31, 2020, the Company recorded finance lease ROU asset and liability of $163.0 million Hong Kong dollars or $21.0 million at the exchange rate in effect on March 31, 2020. In November 2020, the Company took possession and commence the lease of the second space in the HK1 Data Center with an initial lease term of approximately 17 years with no renewal option available. The Company assessed the lease classification of the second space at the commencement date and determined the lease should be accounted for as a finance lease. During the three months ended December 31, 2020, the Company recorded finance lease ROU asset and liability of $65.9 million Hong Kong dollars or $8.5 million at the exchange rate in effect on December 31, 2020. Headquarters Office in Redwood City, California ("HQ Office") In April 2020, the Company entered into a lease amendment to (i) extend the lease term of the existing space for another 10.5 years and (ii) lease additional space within its HQ Office building, which commenced on June 1, 2020. Both spaces have two five-year renewal options which the Company determined were not reasonably certain to be exercised. Therefore, the concluded lease term for both spaces was approximately 11 years, expiring on March 31, 2031. The existing space was previously accounted for as a finance lease. The Company concluded that the building and land components for both spaces should be accounted for as finance leases and operating leases, respectively. During the three months ended June 30, 2020, the Company recorded incremental finance lease ROU asset and liability of $42.2 million and operating lease ROU asset and liability of $8.3 million. Singapore 1 ("SG1") Data Center In May 2020, the Company exercised a three-year renewal option on the lease of the existing space and entered into a lease agreement to lease additional space in the SG1 Data Center. The building and land were originally accounted for as a finance lease and operating lease, respectively. The Company determined the remaining five three-year renewal options were reasonably certain to be exercised and therefore, the concluded lease term was 18 years. The Company reassessed the lease classification and determined that the lease should be accounted for as finance lease. Land was determined to not be a component of the lease as the Company no longer controlled substantially all of the economic benefits from its use. The Company recorded incremental finance lease ROU asset and liability of $99.5 million Singapore dollars, or approximately $71.4 million, and de-recognized operating lease ROU asset and liability of $11.4 million Singapore dollars, or approximately $8.1 million, at the exchange rate in effect on June 30, 2020, during the three months ended June 30, 2020. Abu Dhabi 1 ("AD1") Data Center In June 2020, the Company entered into two lease agreements to lease additional space in the AD1 Data Center. The Company concluded lease terms of both leases are 10 years, inclusive of a three-year renewal option for one of the leases determined to be reasonably assured of exercise. The Company assessed the lease classifications and determined that the leases should be accounted for as finance leases. During the three months ended June 30, 2020, the Company recorded finance lease ROU assets and liabilities of 261.9 million United Arab Emirates Dirham in aggregate, or approximately $71.3 million at the exchange rate in effect on June 30, 2020. Singapore Office ("SGO") In April 2020, the Company entered into an office lease agreement, which commenced on August 1, 2020 with an initial term of seven years, two three-year renewal options and a one-time early termination option for a certain floor after the third year of the lease. The Company determined that the renewal options and the early termination option were not reasonably certain to be exercised and therefore, concluded the lease term was seven years. The Company assessed the lease classification at the commencement date and concluded that the lease should be accounted for as an operating lease. During the three months ended September 30, 2020, the Company recorded operating lease ROU asset and liability of $64.2 million Singapore dollars, or approximately $47.1 million, at the exchange rate in effect on September 30, 2020. Seoul 1 ("SL1") Data Center In September 2020, the phase 2 from a previously signed lease for the SL1 data center was delivered and commenced, with an initial lease term of approximately four years and three five Lease Expenses The components of lease expenses are as follows (in thousands): Years Ended December 31, 2020 2019 Finance lease cost Amortization of right-of-use assets (1) $ 120,169 $ 82,893 Interest on lease liabilities 113,699 110,688 Total finance lease cost 233,868 193,581 Operating lease cost 217,299 219,021 Variable lease cost 13,588 1,763 Total lease cost $ 464,755 $ 414,365 (1) Amortization of right-of-use assets is included within depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the consolidated statements of operations. Other Information Other information related to leases is as follows (in thousands, except years and percent): Years Ended December 31, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 109,558 $ 107,000 Operating cash flows from operating leases 206,512 210,848 Financing cash flows from finance leases 115,288 126,486 Right-of-use assets obtained in exchange for lease obligations: (1) Finance leases $ 487,592 $ 387,808 Operating leases 108,797 145,025 As of December 31, 2020 2019 Weighted-average remaining lease term - finance leases (2) 14 years 15 years Weighted-average remaining lease term - operating leases (2) 12 years 13 years Weighted-average discount rate - finance leases 7 % 9 % Weighted-average discount rate - operating leases 4 % 4 % Finance lease ROU assets (3) $ 1,688,032 $ 1,277,614 (1) Represents all non-cash changes in ROU assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) Finance lease ROU assets are recorded within property, plant and equipment, net on the consolidated balance sheets. As of December 31, 2020 and December 31, 2019, the Company recorded $604.1 million and $474.8 million of accumulated amortization of finance lease ROU assets, respectively. Maturities of Lease Liabilities Maturities of lease liabilities as of December 31, 2020 are as follows (in thousands): Year ended December 31, Operating Leases Finance Leases Total 2021 $ 199,291 $ 232,415 $ 431,706 2022 205,411 221,058 426,469 2023 188,724 215,909 404,633 2024 176,626 213,186 389,812 2025 165,437 209,424 374,861 Thereafter 1,032,186 1,928,094 2,960,280 Total lease payments 1,967,675 3,020,086 4,987,761 Plus amount representing residual property value — 17,331 17,331 Less imputed interest (504,841) (1,114,918) (1,619,759) Total $ 1,462,834 $ 1,922,499 $ 3,385,333 The Company entered into lease agreements in various locations that have not yet commenced as of December 31, 2020. These leases will commence between 2021 and 2022, with lease terms of 10 to 49 years and a total lease commitment of approximately $684.1 million. |
Debt Facilities
Debt Facilities | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Debt Facilities | Debt Facilities Mortgage and Loans Payable The Company's mortgage and loans payable consisted of the following as of December 31 (in thousands): 2020 2019 Term loans $ 1,292,067 $ 1,287,151 Mortgage payable and loans payable 78,903 82,967 1,370,970 1,370,118 Less amount representing unamortized debt discount and debt issuance cost (3,288) (4,849) Add amount representing unamortized mortgage premium 1,861 1,768 1,369,543 1,367,037 Less current portion (82,289) (77,603) $ 1,287,254 $ 1,289,434 Senior Credit Facility On December 12, 2017, the Company entered into a credit agreement with a group of lenders for a $3.0 billion credit facility ("Senior Credit Facility"), comprised of a $2.0 billion senior unsecured multicurrency revolving credit facility ("Revolving Facility") and an approximately $1.0 billion senior unsecured multicurrency term loan facility ("Term Loan Facility"). The Senior Credit Facility contains customary covenants, including financial covenants which require the Company to maintain certain financial coverage and leverage ratios, as well as customary events of default. The Senior Credit Facility has a five Revolving Facility The Revolving Facility allows the Company to borrow, repay and reborrow over its term. The Revolving Facility provides a sublimit for the issuance of letters of credit of up to $250.0 million at any one time. Borrowings under the Revolving Facility bear interest at a rate based on a benchmark rate defined in the credit agreement plus a margin that can vary from 0.85% to 1.40% or, at the Company's option, the base rate, which is defined as the highest of (a) the Federal Funds Rate plus 0.5%, (b) the Bank of America prime rate and (c) one-month LIBOR plus 1% plus a margin that can vary from 0.0% to 0.4%. The Company is required to pay a quarterly letter of credit fee on the face amount of each letter of credit, which fee is based on the same margin that applies from time to time to borrowings under the Revolving Facility. The Company is also required to pay a quarterly facility fee ranging from 0.15% to 0.30% per annum based on the total Revolving Facility amount. In March 2020, the Company borrowed a total of $250.0 million under the Revolving Facility, which was fully repaid in May 2020. As of December 31, 2020, there was no outstanding balance under the Revolving Facility. As of December 31, 2020, the Company had 37 irrevocable letters of credit totaling $74.6 million issued and outstanding under the Revolving Facility and the amount available to the Company to borrow under the Revolving Facility was approximately $1.9 billion as of December 31, 2020. Term Loan Facility On December 12, 2017, the Company borrowed £500.0 million and SEK 2.8 billion under the Term Loan Facility, or approximately $997.1 million at the exchange rates in effect on that date. The Company is required to repay the Term Loan Facility at the rate of 5% of the original principal amount per annum with the remaining balance to be repaid in full at the maturity of the Senior Credit Facility. The Term Loan Facility bears interest at a rate based on LIBOR plus a margin that can vary from 1.00% to 1.70%. As of December 31, 2020, the Company had £431.3 million and SEK2,415.0 million, or approximately $883.6 million in U.S. dollars at the exchange rates in effect as of December 31, 2020, outstanding under the Term Loan Facility with a weighted average effective interest rate of 1.85% per annum. Debt issuance costs related to the Term Loan Facility, net of amortization, were $1.2 million as of December 31, 2020. On July 26, 2018, the Company entered into an amendment to its Senior Credit Facility. The amendment provided for a senior unsecured term loan in an aggregate principal amount of ¥47.5 billion (the "JPY Term Loan"). On July 31, 2018, the Company drew down the full ¥47.5 billion of the JPY Term Loan, or approximately $424.7 million at the exchange rate effective on July 31, 2018, and prepaid the remaining principal of its existing Japanese Yen Term Loan of ¥43.8 billion or approximately $391.3 million. The Company is required to repay the JPY Term Loan at the rate of 5% of the original principal amount per annum with the remaining balance to be repaid in full at the maturity of the Senior Credit Facility. The JPY Term Loan bears interest at a rate based on LIBOR plus a margin that can vary from 1.00% to 1.70% and contains customary covenants consistent with the Senior Credit Facility. As of December 31, 2020, total outstanding borrowings under the JPY Term Loan were ¥42.2 billion, or approximately $408.5 million at the exchange rate effective on that date, with an effective interest rate of 1.74%. Debt issuance costs, net of amortization, related to the JPY Term Loan were $2.1 million as of December 31, 2020. 364-Day Facilities On April 15, 2020, the Company entered into a credit agreement which provided for senior unsecured 364-day term loan facilities in an aggregate principal amount of $750.0 million, comprised of $500.0 million available to be borrowed on the closing date (the "Closing Date Facility") and $250.0 million available to be borrowed on or prior to July 14, 2020 (the "Delayed Draw Facility" and together with the Closing Date Facility, the "364-Day Facilities"). On April 15, 2020, the Company borrowed $391.0 million, as well as €100.0 million or $109.8 million at the exchange rate in effect on that date, under the Closing Date Facility. During the quarter ended June 30, 2020, the Company repaid all amounts outstanding under the Closing Date Facility and terminated the 364-Day Facilities. The loss on debt extinguishment incurred in connection with the redemption and termination was not significant. Mortgage Payable In October 2013, as a result of the Frankfurt Kleyer 90 Carrier Hotel Acquisition, the Company assumed a mortgage payable of $42.9 million with an effective interest rate of 4.25%. The mortgage payable has monthly principal and interest payments and has an expiration date of August 2022. In December 2019, as a result of the TR2 Data Center purchase, the Company assumed a mortgage payable of $43.8 million with an effective interest rate of 3.63%. The mortgage payable has monthly principal and interest payments and has an expiration date of November 2029. Senior Notes The Company's senior notes consisted of the following as of December 31 (in thousands): 2020 2019 Senior Notes Issuance Date Maturity Date Amount Effective Rate Amount Effective Rate 5.000% Infomart Senior Notes April 2018 April 2021 $ 150,000 4.51 % $ 450,000 4.46 % 5.375% Senior Notes due 2022 November 2014 January 2022 — — % 343,711 5.56 % 2.625% Senior Notes due 2024 November 2019 November 2024 1,000,000 2.79 % 1,000,000 2.79 % 2.875% Euro Senior Notes due 2024 March 2018 March 2024 — — % 841,500 3.08 % 1.250% Senior Notes due 2025 June 2020 July 2025 500,000 1.46 % — — % 1.000% Senior Notes due 2025 October 2020 September 2025 700,000 1.18 % — — % 2.875% Euro Senior Notes due 2025 September 2017 October 2025 — — % 1,122,000 3.04 % 2.900% Senior Notes due 2026 November 2019 November 2026 600,000 3.04 % 600,000 3.04 % 5.875% Senior Notes due 2026 December 2015 January 2026 — — % 1,100,000 6.03 % 2.875% Euro Senior Notes due 2026 December 2017 February 2026 611,050 3.04 % 1,122,000 3.04 % 1.800% Senior Notes due 2027 June 2020 July 2027 500,000 1.96 % — — % 5.375% Senior Notes due 2027 March 2017 May 2027 1,250,000 5.51 % 1,250,000 5.51 % 1.550% Senior Notes due 2028 October 2020 March 2028 650,000 1.67 % — — % 3.200% Senior Notes due 2029 November 2019 November 2029 1,200,000 3.30 % 1,200,000 3.30 % 2.150% Senior Notes due 2030 June 2020 July 2030 1,100,000 2.27 % — — % 3.000% Senior Notes due 2050 June 2020 July 2050 500,000 3.09 % — — % 2.950% Senior Notes due 2051 October 2020 September 2051 500,000 3.00 % — — % 9,261,050 9,029,211 Less amount representing unamortized debt discount and debt issuance cost (92,773) (78,030) Add amount representing unamortized debt premium 186 1,716 9,168,463 8,952,897 Less current portion (150,186) (643,224) $ 9,018,277 $ 8,309,673 Redemption of 5.375% Senior Notes due 2022 On January 2, 2020, the Company redeemed the remaining $343.7 million principal amount of the 5.375% Senior Notes due 2022. In connection with the redemption, the Company incurred $5.9 million of loss on debt extinguishment, including $4.6 million redemption premium that was paid in cash and $1.3 million related to the write-off of unamortized debt issuance costs. 1.250% Senior Notes due 2025, 1.800% Senior Notes due 2027, 2.150% Senior Notes due 2030, and 3.000% Senior Notes due 2050 On June 22, 2020, the Company issued $500.0 million aggregate principal amount of 1.250% senior notes due 2025 (the "2025 Notes"), $500.0 million aggregate principal amount of 1.800% senior notes due 2027 (the "2027 Notes"), $1.1 billion aggregate principal amount of 2.150% senior notes due 2030 (the "2030 Notes"), and $500.0 million aggregate principal amount of 3.000% senior notes due 2050 (the "2050 Notes"). Interest on these notes is payable semi-annually on January 15 and July 15 of each year, commencing on January 15, 2021. Debt issuance costs and debt discounts related to the 2025 Notes, 2027 Notes, 2030 Notes, and 2050 Notes were $5.3 million, $5.6 million, $12.9 million, and $14.2 million, respectively. Redemption of 2.875% Euro Senior Notes due 2024 and 5.875% Senior Notes due 2026 On July 8, 2020, using a portion of the net cash proceeds from the 2025, 2027, 2030, and 2050 Notes, the Company redeemed all of the outstanding €750.0 million 2.875% Senior Notes due 2024 and $1.1 billion 5.875% Senior Notes due 2026. In connection with the redemption, the Company incurred $93.5 million of loss on debt extinguishment, including $77.8 million in redemption premium that was paid in cash and $15.7 million related to the write-off of unamortized debt issuance costs. 1.000% Senior Notes due 2025, 1.550% Senior Notes due 2028, and 2.950% Senior Notes due 2051 On October 7, 2020, the Company issued $700.0 million aggregate principal amount of 1.000% Senior Notes due 2025 (the “2025 Notes”), $650.0 million aggregate principal amount of 1.550% Senior Notes due 2028 (the “2028 Notes"), and $500.0 million aggregate principal amount of 2.950% Senior Notes due 2051 (the “2051 Notes”). Interest on these notes is payable semi-annually on March 15 and September 15 of each year, commencing March 15, 2021. Debt issuance costs and debt discounts related to the 2025 Notes, 2028 Notes, and 2051 Notes were $6.2 million, $5.8 million, and $8.1 million, respectively. Redemption of 2.875% Senior Notes due 2025 and 2.875% Senior Notes due 2026 On October 23, 2020, the Company used a portion of the net cash proceeds from the issuance of the 2025, 2028, and 2051 Notes, as described above, to fund the redemption of all of the outstanding €1.0 billion 2.875% Senior Notes due 2025 and €0.5 billion aggregate principal amount of its outstanding €1.0 billion aggregate principal amount 2.875% Senior Notes due 2026. In connection with the redemption, the Company incurred $44.2 million of loss on debt extinguishment, including $29.3 million in redemption premium that was paid in cash and $14.9 million related to the write-off of unamortized debt issuance costs. All of the Company's senior notes are unsecured and rank equal in right of payment to the Company's existing or future senior indebtedness and senior in right of payment to the Company's existing and future subordinated indebtedness. Interest on the senior notes is paid semi-annually in arrears. The senior notes are effectively subordinated to all of the existing and future secured debt, including debt outstanding under any bank facility or secured by any mortgage, to the extent of the assets securing such debt. They are also structurally subordinated to any existing and future indebtedness and other liabilities (including trade payables) of any of the Company's subsidiaries. Each series of senior notes is governed by an indenture and a supplemental indenture between the Company and U.S. Bank National Association, as trustee. These supplemental indentures contain covenants that limit the Company's ability and the ability of its subsidiaries to, among other things: • purchase, redeem or retire capital stock or subordinated debt (1) ; • incur liens; • enter into sale-leaseback transactions (1) ; • make investments (1) ; and • merge or consolidate with any other person. (1) The supplemental indentures for the 2.875% Euro Senior Notes due 2026 and the 5.375% due 2027 contain these covenants . As of December 31, 2020, the Company was in compliance with all covenants. Subject to compliance with the limitations described above, the Company may issue an unlimited principal amount of additional notes at later dates under the same indenture as the senior notes. The Company is not required to make any mandatory redemption with respect to the senior notes; however, upon the event of a change in control, the Company may be required to offer to purchase the senior notes. Optional Redemption Schedule Each series of the Company's senior notes, with the exception of 5.000% Infomart Senior Notes, provide for optional redemption. Two series of the Company’s senior notes provide for optional redemption as summarized below: Senior Notes Description Early Equity Redemption Price (1) First Scheduled Redemption Date (2) First Scheduled Redemption Price Second Year Redemption Price Third Year Redemption Price Fourth Year 2.875% Euro Senior Notes due 2026 102.875% February 1, 2021 101.438% 100.719% 100.000% 5.375% Senior Notes due 2027 105.375% May 15, 2022 102.688% 101.792% 100.896% 100.000% (1) Within 90 days of the closing of one or more equity offerings and at any time prior to the first scheduled redemption date, the Company may redeem up to 35% of the aggregate principal amount of any series of senior notes outstanding, at the respective early equity redemption price, plus accrued and unpaid interest to the redemption date, provided that at least 65% of the aggregate principal amount of the senior notes issued in such series remains outstanding immediately after such redemption(s). (2) On or after the first scheduled redemption date, the Company may redeem all or a part of a series of senior notes at the first scheduled redemption price plus accrued and unpaid interest thereon, if redeemed during the 12 month period beginning on the first scheduled redemption date and at reduced scheduled redemption prices during the 12 or 18 month periods beginning on the anniversaries of the first scheduled redemption date. At any time prior to the first scheduled redemption date, the Company may redeem all or a part of any series of senior notes at a redemption price equal to 100% of the principal amount of such senior notes redeemed plus an applicable premium and accrued and unpaid interest, subject to the rights of the holders of record of such senior notes on the relevant record date to receive interest due on the relevant interest payment date. With respect to the rest of the Notes listed below, the Company may redeem at its election, at any time or from time to time, some or all of the notes of any series before they mature. The redemption price will equal the sum of (1) an amount equal to one hundred percent (100%) of the principal amount of the notes being redeemed plus accrued and unpaid interest up to, but not including, the redemption date and (2) a make-whole premium. If the Notes are redeemed on or after the First Par Call Date listed in the table below, the redemption price will not include a make-whole premium for the applicable notes. Senior Notes Description First Par Call Date 2.625% Senior Notes due 2024 October 18, 2024 1.000% Senior Notes due 2025 August 15, 2025 1.250% Senior Notes due 2025 June 15, 2025 2.900% Senior Notes due 2026 September 18, 2026 1.800% Senior Notes due 2027 May 15, 2027 1.550% Senior Notes due 2028 January 15, 2028 3.200% Senior Notes due 2029 August 18, 2029 2.150% Senior Notes due 2030 April 15, 2030 3.000% Senior Notes due 2050 January 15, 2050 2.950% Senior Notes due 2051 March 15, 2051 Loss on Debt Extinguishment During the year ended December 31, 2020, the Company recorded $145.8 million of loss on debt extinguishment primarily comprised of: • $5.9 million of loss on debt extinguishment from the redemption of the 2022 Notes, which included $4.6 million redemption premium that was paid in cash and $1.3 million related to the write-off of unamortized debt issuance costs. • $93.5 million of loss on debt extinguishment from the redemption of the 2024 and 2026 Notes, which included $77.8 million redemption premium that was paid in cash and $15.7 million related to the write-off of unamortized debt issuance costs. • $44.2 million of loss on debt extinguishment from the redemption of the 2025 and 2026 Notes, which included $29.3 million redemption premium that was paid in cash and $14.9 million related to the write-off of unamortized debt issuance costs. During the year ended December 31, 2019, the Company recorded $52.8 million of loss on debt extinguishment primarily comprised of: • $52.9 million of loss on debt extinguishment from the tender and subsequent redemption of the 2022, 2023 and 2025 Notes, which included $43.3 million tender and redemption premium that was paid in cash and $9.6 million related to the write-off of unamortized debt issuance costs. During the year ended December 31, 2018, the Company recorded $51.4 million of loss on debt extinguishment comprised of: • $17.1 million of loss on debt extinguishment as a result of amendments to leases impacting the related financing obligations; • $19.5 million of loss on debt extinguishment from the settlement of financing obligations as a result of the Infomart Dallas Acquisition; • $12.6 million of loss on debt extinguishment as a result of the settlement of financing obligations for properties purchased; and • $2.2 million of loss on debt extinguishment as a result of the redemption of the Japanese Yen Term Loan. Maturities of Debt Instruments The following table sets forth maturities of the Company's debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs, debt discounts and debt premiums, as of December 31, 2020 (in thousands): Years ending: 2021 $ 232,289 2022 1,253,106 2023 6,896 2024 1,006,395 2025 1,204,605 Thereafter 6,930,590 $ 10,633,881 Fair Value of Debt Instruments The following table sets forth the estimated fair values of the Company's mortgage and loans payable and senior notes, including current maturities, as of December 31 (in thousands): 2020 2019 Mortgage and loans payable $ 1,379,129 $ 1,378,429 Senior notes 9,705,486 9,339,497 The fair values of the mortgage and loans payable and 5.000% Infomart Senior Notes, which are not publicly traded, were estimated by considering the Company's credit rating, current rates available to the Company for debt of the same remaining maturities and terms of the debt (Level 2). The fair value of the senior notes, which are traded in the public debt market, was based on quoted market prices (Level 1). Interest Charges The following table sets forth total interest costs incurred and total interest costs capitalized for the years ended December 31 (in thousands): 2020 2019 2018 Interest expense $ 406,466 $ 479,684 $ 521,494 Interest capitalized 26,750 32,173 19,880 Interest charges incurred $ 433,216 $ 511,857 $ 541,374 Total interest paid in cash, net of capitalized interest, during the years ended December 31, 2020, 2019 and 2018 was $471.7 million, $521.6 million and $476.9 million, respectively. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2020 | |
Equity [Abstract] | |
Stockholders' Equity | Stockholders' Equity The Company's authorized share capital is 300,000,000 shares of common stock and 100,000,000 shares of preferred stock, of which 25,000,000 is designated Series A, 25,000,000 is designated as Series A-1 and 50,000,000 is undesignated. As of December 31, 2020 and 2019, the Company had no preferred stock issued and outstanding. Common Stock In March 2019, the Company issued and sold 2,985,575 shares of common stock in a public offering pursuant to a registration statement and a related prospectus and prospectus supplement. The Company received net proceeds of approximately $1.2 billion, net of underwriting discounts, commissions and offering expenses. In May 2020, the Company issued and sold 2,587,500 shares of common stock in a public offering pursuant to a registration statement and a related prospectus and prospectus supplement. The Company received net proceeds of approximately $1.7 billion, net of underwriting discounts, commissions and offering expenses. In August 2017, the Company established an "at the market" equity offering program (the "2017 ATM Program"), under which the Company may, from time to time, offer and sell shares of its common stock to or through sales agents up to an aggregate of $750.0 million. For the year ended December 31, 2018, the Company sold 930,934 shares for approximately $388.2 million, net of payment of commissions to the sales agents and estimated equity offering costs under the 2017 ATM Program. As of December 31, 2018, no shares remained available for sale under the 2017 ATM Program. In December 2018, the Company established another ATM program to offer and sell up to an aggregate of $750.0 million of its common stock to or through sales agents in "at the market" transactions (the "2018 ATM Program"). For the year ended December 31, 2020 and 2019, the Company sold 415,512 shares and 903,555 shares, respectively, for approximately $298.3 million and $447.5 million, respectively, net of payment of commissions to sales agents and other offering expenses, under the 2018 ATM Program. As of December 31, 2020, no shares remained available for sale under the 2018 ATM Program. In October 2020, the Company established another ATM program, under which it may, from time to time, offer and sell up to an aggregate of $1.5 billion of its common stock to or through sales agents in "at the market" transactions (the "2020 ATM Program"). For the year ended December 31, 2020, the Company did not sell any shares under the 2020 ATM Program. As of December 31, 2020, the Company had reserved the following authorized but unissued shares of common stock for future issuances: Common stock options and restricted stock units 5,960,946 Common stock employee purchase plans 2,806,672 Total 8,767,618 Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss, net of tax, by components are as follows (in thousands): December 31, 2017 Net Cumulative Effect Adjustment December 31, 2018 Net December 31, 2019 Net December 31, 2020 Foreign currency translation adjustment ("CTA") gain (loss) $ (576,860) $ (421,743) $ — $ (998,603) $ (58,315) $ (1,056,918) $ 548,503 $ (508,415) Unrealized gain (loss) on cash flow hedges (1) (24,191) 43,671 — 19,480 (3,842) 15,638 (82,790) (67,152) Net investment hedge CTA gain (loss) (1) (185,303) 219,628 — 34,325 73,294 107,619 (444,553) (336,934) Unrealized gain (loss) on available for sale securities (2) 2,124 — (2,124) — — — — — Net actuarial gain (loss) on defined benefit plans (3) (959) 55 — (904) (48) (952) 85 (867) $ (785,189) $ (158,389) $ (2,124) $ (945,702) $ 11,089 $ (934,613) $ 21,245 $ (913,368) (1) Refer to Note 8 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income. (2) Upon adoption of ASU 2016-01 during the three months ended March 31, 2018, the Company recorded a net cumulative effect adjustment of $2.1 million from accumulated other comprehensive loss to retained earnings. (3) The Company has a defined benefit pension plan covering all employees in two countries where such plans are mandated by law. The Company does not have any defined benefit plans in any other countries. The unamortized gain (loss) on defined benefit plans includes gains or losses resulting from a change in the value of either the projected benefit obligation or the plan assets resulting from a change in an actuarial assumption, net of amortization. Changes in foreign currencies can have a significant impact to the Company's consolidated balance sheets (as evidenced above in the Company's foreign currency translation loss), as well as its consolidated results of operations, as amounts in foreign currencies are generally translated into more U.S. dollars when the U.S. dollar weakens or less U.S. dollars when the U.S. dollar strengthens. As of December 31, 2020, the U.S. dollar was generally weaker relative to certain of the currencies of the foreign countries in which the Company operates as compared to December 31, 2019. Because of this, the U.S. dollar had an overall favorable impact on the Company's consolidated financial position because the foreign denominations translated into more U.S. dollars as evidenced by a decrease in foreign currency translation loss for the year ended December 31, 2020 as reflected in the above table. The volatility of the U.S. dollar as compared to the other currencies in which the Company operates could have a significant impact on its consolidated financial position and results of operations including the amount of revenue that the Company reports in future periods. Dividends During the years ended December 31, 2020 , 2019 and 2018 , the Company's Board of Directors declared quarterly dividends whose treatment for federal income tax purposes were as follows: Declaration Date Record Date Payment Date Total Distribution (1) Nonqualified Ordinary Dividend (2) Total Distribution Amount (per share) (in thousands) Fiscal 2020 2/12/2020 2/26/2020 3/18/2020 $ 2.660000 $ 2.660000 $ 227,386 5/6/2020 5/20/2020 6/17/2020 2.660000 2.660000 235,449 7/29/2020 8/19/2020 9/23/2020 2.660000 2.660000 236,424 10/28/2020 11/18/2020 12/9/2020 2.660000 2.660000 237,010 Total $ 10.640000 $ 10.640000 $ 936,269 Fiscal 2019 2/13/2019 2/27/2019 3/20/2019 $ 2.460000 $ 2.460000 $ 198,933 5/1/2019 5/22/2019 6/19/2019 2.460000 2.460000 207,949 7/31/2019 8/21/2019 9/18/2019 2.460000 2.460000 209,226 10/30/2019 11/20/2019 12/11/2019 2.460000 2.460000 209,785 Total $ 9.840000 $ 9.840000 $ 825,893 Fiscal 2018 2/14/2018 2/26/2018 3/21/2018 $ 2.280000 $ 2.280000 $ 180,640 5/2/2018 5/23/2018 6/20/2018 2.280000 2.280000 181,207 8/8/2018 8/22/2018 9/19/2018 2.280000 2.280000 182,304 11/1/2018 11/14/2018 12/12/2018 2.280000 2.280000 183,297 Total $ 9.120000 $ 9.120000 $ 727,448 (1) Common stock dividends are characterized for federal income tax purposes as nonqualified ordinary dividend, qualified ordinary dividend, capital gains or return of capital. During the years ended December 31, 2020, 2019 and 2018, the Company did not classify any portion of the distributions as qualified ordinary dividend, capital gains or return of capital. (2) All nonqualified ordinary dividends are eligible for the 20% deduction generally allowable to non-corporate shareholders under Internal Revenue Code Section 199A. In addition, as of December 31, 2020, for dividends and special distributions attributed to the RSUs, the Company recorded a short term dividend payable of $10.9 million and a long term dividend payable of $7.9 million for the RSUs that have not yet vested. As of December 31, 2019, for dividends and special distributions attributed to the RSUs, the Company recorded a short term dividend payable of $9.0 million and a long term dividend payable of $7.1 million for the RSUs that have not yet vested. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation Equity Compensation Plans As of December 31, 2020, The Company’s equity compensation plans include: • 2000 Equity Incentive Plan: Under the 2000 Equity Incentive Plan, nonstatutory stock options, RSAs, RSUs and stock appreciation rights may be granted to employees, outside directors and consultants at not less than 85% of the fair value on the date of grant, and incentive stock options may be granted to employees at not less than 100% of the fair value on the date of grant. Equity awards granted under the 2000 Equity Incentive Plan generally vest over 4 years. On June 18, 2020, the 2000 Equity Incentive Plan was terminated and replaced by the 2020 Equity Incentive Plan (the "2020 Equity Incentive Plan"). • 2000 Director Option Plan : Under the 2000 Director Option Plan, each non-employee board member who was not previously an employee of the Company would receive an automatic initial nonstatutory stock option grant as well as an annual non-statutory stock option grant on the date of the Company's regular Annual Meeting of Stockholders. On December 18, 2008, the Company's Board of Directors passed resolutions eliminating all automatic stock option grant mechanisms under the 2000 Director Option Plan and replaced them with an automatic RSU grant mechanism under the 2000 Equity Incentive Plan. On June 18, 2020, the 2000 Director Option Plan was terminated and all shares remaining available under this Plan were retired. • 2001 Supplemental Stock Plan : Under the 2001 Supplemental Stock Plan, non-statutory stock options and RSAs/RSUs may be granted to consultants and employees who are not executive officers or board members, at not less than 85% of the fair value on the date of grant. Current stock options granted under the 2001 Supplemental Stock Plan generally vest over four years. On June 18, 2020, the 2001 Supplemental Stock Plan was terminated and all shares remaining available under this Plan were retired. • 2004 Employee Stock Purchase Plan (2004 Purchase Plan) : The 2004 Purchase Plan permits eligible employees to purchase common stock on favorable terms via payroll deductions of up to 15% of the employee's cash compensation, subject to certain share and statutory dollar limits. Two overlapping offering periods commence during each calendar year, on each February 15 and August 15 or such other periods or dates as determined by the Compensation Committee from time to time, and the offering periods last up to 24 months with a purchase date every 6 months. The price of each share purchased is 85% of the lower of a) the fair value per share of common stock on the last trading day before the commencement of the applicable offering period or b) the fair value per share of common stock on the purchase date. • 2020 Equity Incentive Plan (the "2020 Equity Plan") : On April 23, 2020, the Company Board of Directors approved the 2020 Equity Plan, which provides for the grant of stock options, including incentive stock options and non-qualified stock options, stock appreciation rights, RSAs, RSUs, other stock-based incentive awards, dividend equivalents, and cash-based incentive awards. The 2020 Equity Plan's awards may be granted to employees, non-employee members of the Board and consultants. Equity awards granted under the 2020 Equity Incentive Plan generally vest over four years. The maximum numbers of shares of Equinix common stock available for issuance under the 2020 Equity Plan is equal to the sum of 4.0 million shares and the shares transferred from the 2000 Equity Incentive Plan. The Equity compensation plans are administered by the Compensation Committee of the Board of Directors (the "Compensation Committee"), and the Compensation Committee may terminate or amend these plans, with approval of the stockholders as may be required by applicable law, at any time. As of December 31, 2020, shares reserved and available for issuance under the equity compensation plans are as follows: Shares reserved Shares available for grant 2004 Purchase Plan 5,392,206 2,806,672 2020 Equity Incentive Plan 4,687,435 4,623,380 Restricted Stock Units Since 2008, the Company primarily grants RSUs to its employees, including executives and non-employee directors, in lieu of stock options. The Company generally grants RSUs that have a service condition only or have both a service and performance condition. Each RSU is not considered issued and outstanding and does not have voting rights until it is converted into one share of the Company's common stock upon vesting. RSUs activity is summarized as follows: Number of Shares Outstanding Weighted Average Grant Date Fair Value per Share Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value (1) (Dollars in Thousands) RSUs outstanding, December 31, 2017 1,303,891 $ 252.30 RSUs granted 704,249 387.31 RSUs released, vested (593,528) 299.07 Special distribution shares released (13,880) 283.14 RSUs canceled (173,460) 336.75 Special distribution shares canceled (485) 295.77 RSUs outstanding, December 31, 2018 1,226,787 361.22 RSUs granted 779,478 448.16 RSUs released, vested (549,259) 362.66 Special distribution shares released (1,781) 295.31 RSUs canceled (142,477) 364.42 Special distribution shares canceled (23) 297.04 RSUs outstanding, December 31, 2019 1,312,725 411.99 RSUs granted 695,383 596.80 RSUs released, vested (606,250) 426.03 Special distribution shares released (722) 264.57 RSUs canceled (63,502) 457.91 RSUs outstanding, December 31, 2020 1,337,634 $ 499.60 1.22 $ 955,311 (1) The intrinsic value is calculated based on the market value of the stock as of December 31, 2020. The total fair value of RSUs vested and released during the years ended December 31, 2020, 2019 and 2018 was $417.0 million, $269.1 million and $249.8 million, respectively. Employee Stock Purchase Plan The Company provides the following disclosures for the 2004 Purchase Plan as of December 31 (dollars, except shares): 2020 2019 2018 Weighted-average purchase price per share $ 371.71 $ 354.72 $ 341.48 Weighted average grant-date fair value per share of shares purchased $ 114.08 $ 104.84 $ 90.04 Number of shares purchased 167,113 146,640 145,346 The Company uses the Black-Scholes option-pricing model to determine the fair value of shares under the 2004 Purchase Plan with the following assumptions during the years ended December 31: 2020 2019 2018 Range of dividend yield 1.94 - 2.08% 2.07 - 2.09% 1.97 - 2.00% Range of risk-free interest rate 0.10 - 1.55% 1.55 - 2.58% 1.79 - 2.68% Range of expected volatility 19.28 - 51.93% 19.27 - 25.55% 19.04 - 24.33% Weighted-average expected volatility 32.94 % 22.95 % 20.74 % Weighted average expected life (in years) 1.36 1.24 1.43 Stock-Based Compensation The following table presents, by operating expense, the Company's stock-based compensation expense recognized in the Company's consolidated statement of operations for the years ended December 31 (in thousands): 2020 2019 2018 Cost of revenues $ 32,893 $ 25,355 $ 18,247 Sales and marketing 72,895 56,719 53,448 General and administrative 205,232 154,465 109,021 Total $ 311,020 $ 236,539 $ 180,716 The Company's stock-based compensation recognized in the consolidated statement of operations was comprised of the following types of equity awards for the years ended December 31 (in thousands): 2020 2019 2018 RSUs $ 289,426 $ 217,541 $ 165,141 RSAs (1) 8,289 — — Employee stock purchase plan 13,305 18,998 15,575 Total $ 311,020 $ 236,539 $ 180,716 (1) During the year ended December 31, 2020, the Company awarded 48,799 shares of RSAs. See Note 1 for further discussion. During the years ended December 31, 2020, 2019 and 2018, the Company capitalized $20.3 million, $9.1 million and $9.1 million, respectively, of stock-based compensation expense as construction in progress in property, plant and equipment. As of December 31, 2020, the total stock-based compensation cost related to unvested equity awards not yet recognized, net of estimated forfeitures, totaled $512.9 million which is expected to be recognized over a weighted-average period of 2.13 years. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Income before income taxes is attributable to the following geographic locations for the years ended December 31, (in thousands): 2020 2019 2018 Domestic $ 18,395 $ 328,806 $ 298,009 Foreign 497,830 363,791 135,029 Income before income taxes $ 516,225 $ 692,597 $ 433,038 The tax benefit (expenses) for income taxes consisted of the following components for the years ended December 31, (in thousands): 2020 2019 2018 Current: Federal $ 4,552 $ (17,906) $ 7,085 State and local 1,597 (4,624) (2,663) Foreign (171,092) (135,356) (118,175) Subtotal (164,943) (157,886) (113,753) Deferred: Federal 16,553 (7,459) (27,874) State and local 704 (1,775) (1,165) Foreign 1,535 (18,232) 75,113 Subtotal 18,792 (27,466) 46,074 Income tax expense $ (146,151) $ (185,352) $ (67,679) State and foreign taxes not based on income are included in general and administrative expenses and the aggregate amounts were not significant for the years ended December 31, 2020, 2019 and 2018. The fiscal 2020, 2019, and 2018 income tax benefit (expenses) differed from the amounts computed by applying the U.S. federal income tax rate of 21% to pre-tax income as a result of the following for the years ended December 31 (in thousands): 2020 2019 2018 Federal tax at statutory rate $ (109,906) $ (145,445) $ (90,938) State and local tax (expense) benefit 2,071 (5,852) (3,616) Deferred tax assets generated in current year not benefited (12,852) (5,398) (3,777) Foreign income tax rate differential (16,364) (11,610) (4,072) Non-deductible expenses (4,427) (1,021) (756) Stock-based compensation expense (954) (2,105) (2,308) Change in valuation allowance 390 (2,870) 38,684 Foreign financing activities (11,743) (18,738) (17,548) Loss on divestments — (3,277) — Uncertain tax positions reserve (38,014) (35,724) (20,440) Tax adjustments related to REIT 50,107 63,614 32,189 Change in deferred tax adjustments (136) (10,574) — Other, net (4,323) (6,352) 4,903 Total income tax expense $ (146,151) $ (185,352) $ (67,679) The Tax Cuts and Jobs Act of 2017 included a Global Intangible Low-Taxed Income ("GILTI") provision that increases U.S. federal taxable income by certain foreign subsidiary income in the year it is earned. The Company's accounting policy is to treat any tax on GILTI inclusions as a current period cost included in the tax expense in the year incurred. The Company believes the GILTI inclusion provision will result in no financial statement impact provided the Company satisfies its REIT distribution requirement with respect to the GILTI inclusions. As a result of the Company's conversion to a REIT effective January 1, 2015, it is no longer the Company's intent to indefinitely reinvest undistributed foreign earnings. However, no deferred tax liability has been recognized to account for this change because the expected recovery of the basis difference will not result in U.S. taxes in the post-REIT conversion periods due to the fact that none of its foreign subsidiaries is owned by a U.S. taxable REIT subsidiary and the foreign withholding tax effect would be immaterial. The Company continues to assess the foreign withholding tax impact of its current policy and does not believe the distribution of its foreign earnings would trigger any significant foreign withholding taxes, as a majority of the foreign jurisdictions where the Company operates do not impose withholding taxes on dividend distributions to a corporate U.S. parent. The types of temporary differences that give rise to significant portions of the Company's deferred tax assets and liabilities are set out below as of December 31 (in thousands): 2020 2019 (1) Deferred tax assets: Stock-based compensation expense $ 5,583 $ 2,675 Unrealized losses 17,268 6,492 Lease liabilities 214,560 189,951 Loss carryforwards and tax credits 117,150 59,735 Others, net 14,976 8,500 Gross deferred tax assets 369,537 267,353 Valuation allowance (82,344) (57,812) Total deferred tax assets, net 287,193 209,541 Deferred tax liabilities: Property, plant and equipment (2) (346,916) (271,262) Deferred income (31,538) (5,248) Intangible assets (132,681) (144,404) Total deferred tax liabilities (511,135) (420,914) Net deferred tax liabilities $ (223,942) $ (211,373) (1) The prior year amounts presented in the table above have been reclassified to conform with the current year presentation. (2) Property, plant and equipment included the net deferred tax liabilities related to operating and finance lease ROU assets. The tax basis of REIT assets, excluding investments in TRSs, is greater than the amounts reported for such assets in the accompanying consolidated balance sheet by approximately $2.0 billion as of December 31, 2020. The Company's accounting for deferred taxes involves weighing positive and negative evidence concerning the realizability of the Company's deferred tax assets in each taxing jurisdiction. After considering such evidence as the nature, frequency and severity of current and cumulative financial reporting losses, the sources of future taxable income and tax planning strategies, the Company concluded that valuation allowances were required in certain foreign jurisdictions. The operations in the jurisdictions for which a valuation allowance has been established have a history of significant losses as of December 31, 2020. As such, the Company does not believe these operations have established a sustained history of profitability and that a valuation allowance is, therefore, necessary. The Company also provided a valuation allowance against certain gross deferred tax assets in certain taxing jurisdictions as these deferred tax assets are not expected to be realizable in the foreseeable future. Changes in the valuation allowance for deferred tax assets for the years ended December 31, 2020, 2019 and 2018 are as follows (in thousands): 2020 2019 2018 Beginning balance $ 57,812 $ 57,003 $ 84,573 Amounts from acquisitions 5,777 (2,707) 33,070 Divested balances — (351) — Amounts recognized into income (390) 2,870 (38,684) Current increase (decrease) 15,044 697 (13,086) Impact of foreign currency exchange 4,101 300 (8,870) Ending balance $ 82,344 $ 57,812 $ 57,003 The Company's NOL carryforwards for federal, state and foreign tax purposes which expire, if not utilized, at various intervals from 2021, are outlined below (in thousands): Expiration Date Federal (1) State Foreign (2) (3) Total 2021 $ 110,035 $ — $ 1,580 $ 111,615 2022 to 2024 46,827 — 17,829 64,656 2025 to 2027 13,005 — 34,561 47,566 2028 to 2030 — — 32,393 32,393 2031 to 2033 — 767 — 767 2034 to 2036 4,246 2,088 3,807 10,141 Thereafter 152,495 38,929 399,501 590,925 $ 326,608 $ 41,784 $ 489,671 $ 858,063 (1) The total amount of NOL carryforwards that will not be available to offset the Company's future taxable income after dividend paid deduction due to Section 382 limitations was $165.1 million for federal. (2) In certain jurisdictions, the net operating loss carryforwards can only be used to offset a percentage of taxable income in a given year. (3) If certain substantial changes in the entity's ownership occur or have determined to have occurred, there may be a limitation on the amount of the carryforwards that can be utilized. As of December 31, 2020, the Company had tax credit carryforwards of $8.3 million, which expire, if not utilized, from 2021 to 2031. The Company also had capital losses of $8.0 million, which can be carried forward indefinitely. The beginning and ending balances of the Company's unrecognized tax benefits are reconciled below for the years ended December 31 (in thousands): 2020 2019 2018 Beginning balance $ 173,726 $ 150,930 $ 82,390 Gross increases related to prior year tax positions 14,732 — 33,436 Gross decreases related to prior year tax positions — (1,160) — Gross increases related to current year tax positions 29,149 31,332 48,685 Decreases resulting from expiration of statute of limitation (6,518) (2,112) (1,276) Decreases resulting from settlements (3,330) (5,264) (12,305) Ending balance $ 207,759 $ 173,726 $ 150,930 The Company recognizes interest and penalties related to unrecognized tax benefits within income tax expense in the consolidated statements of operations. The Company accrued $21.3 million, $14.2 million, and $8.4 million for interest and penalties as of December 31, 2020, 2019 and 2018, respectively. The unrecognized tax benefits of $207.8 million as of December 31, 2020, of which $33.8 million is subject to an indemnification agreement, if subsequently recognized, will affect the Company's effective tax rate favorably at the time when such a benefit is recognized. Due to various tax years open for examination and the ongoing tax audits and inquiries by the tax authorities in different jurisdictions, it is reasonably possible that the balance of unrecognized tax benefits could significantly increase or decrease over the next 12 months as the Company may be subject to either examination by tax authorities, tax audit settlements, or a lapse in statute of limitations. The Company is currently unable to estimate the range of possible adjustments to the balance of unrecognized tax benefits. The Company's income tax returns for the years from 2017 through current year remain open to examination by federal and state taxing authorities. In addition, the Company's tax years of 2007 through current year remain open and subject to examination by local tax authorities in certain foreign jurisdictions in which the Company has major operations. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Purchase Commitments As a result of the Company's various IBX data center expansion projects, as of December 31, 2020, the Company was contractually committed for approximately $1.1 billion of unaccrued capital expenditures, primarily for IBX infrastructure equipment not yet delivered and labor not yet provided, in connection with the work necessary to open these IBX data centers and make them available to customers for installation. The Company also had numerous other, non-capital purchase commitments in place as of December 31, 2020, such as commitments to purchase power in select locations through 2021 and thereafter, and other open purchase orders for goods, or services to be delivered or provided during 2021 and thereafter. Such other miscellaneous purchase commitments totaled $1.3 billion as of December 31, 2020. In addition, the Company entered into lease agreements for various locations that have not yet commenced as of December 31, 2020. For further information on lease commitments, see Note 10 above. Equity Contribution Commitments In connection with the EMEA Joint Venture closed in October 2019, the Company committed to make future equity contributions to the EMEA Joint Venture. As of December 31, 2020, the Company had future equity contribution commitments of €13.8 million and £6.6 million, or $25.8 million in total at the exchange rate in effect on December 31, 2020. The Company also committed to make future equity contributions to the Asia-Pacific Joint Venture, which was closed on December 17, 2020. As of December 31, 2020, the Company had future equity contribution commitments of ¥6.3 billion, or $60.7 million in total at the exchange rate in effect on December 31, 2020. Contingent Liabilities The Company estimates exposure on certain liabilities, such as indirect and property taxes, based on the best information available at the time of determination. With respect to real and personal property taxes, the Company records what it can reasonably estimate based on prior payment history, assessed value by the assessor's office, current landlord estimates or estimates based on current or changing fixed asset values in each specific municipality, as applicable. However, there are circumstances beyond the Company's control whereby the underlying value of the property or basis for which the tax is calculated on the property may change, such as a landlord selling the underlying property of one of the Company's IBX data center leases or a municipality changing the assessment value in a jurisdiction and, as a result, the Company's property tax obligations may vary from period to period. Based upon the most current facts and circumstances, the Company makes the necessary property tax accruals for each of its reporting periods. However, revisions in the Company's estimates of the potential or actual liability could materially impact the financial position, results of operations or cash flows of the Company. The Company's indirect and property tax filings in various jurisdictions are subject to examination by local tax authorities. Although we believe that we have adequately assessed and accounted for our potential tax liabilities, and that our tax estimates are reasonable, there can be no certainty that additional taxes will not be due upon audit of our tax returns or as a result of further changes to the tax laws and interpretations thereof. For example, we are currently undergoing audits and appealing the tentative assessments in a number of jurisdictions where we operate, such as Brazil and France. The final results of these audits and the outcomes of the appeals are uncertain and may not be resolved in our favor. The Company regularly assesses the likelihood of adverse outcomes resulting from these examinations and appeals that would affect the adequacy of its tax accruals for each of the reporting periods. If any issues arising from the tax examinations and appeals are resolved in a manner inconsistent with the Company's expectations, the revision of the estimates of the potential or actual liabilities could materially impact the financial position, results of operations, or cash flows of the Company. From time to time, the Company may have certain contingent liabilities that arise in the ordinary course of its business activities. The Company accrues contingent liabilities when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. In the opinion of management, there are no pending claims for which the outcome is expected to result in a material adverse effect in the financial position, results of operations or cash flows of the Company. Employment Agreements The Company has entered into a severance agreement with certain of its executive officers that provides for a severance payment equal to 100% of the executive officer's annual base salary and maximum bonus in the event his or her employment is terminated for any reason other than cause or he or she voluntarily resigns under certain circumstances as described in the agreement, or 200% of the executive officer's annual base salary and maximum bonus in the event this occurs after a change-in-control of the Company. For certain other executive officers, these benefits are only triggered after a change-in-control of the Company, in which case the officer is entitled to 200% of the executive officer's annual base salary and maximum bonus. In addition, under these agreements, the executive officer is entitled to the payment of his or her monthly health care premiums under the Consolidated Omnibus Budget Reconciliation Act for up to 24 months. Indemnification and Guarantor Arrangements As permitted under Delaware law, the Company has agreements whereby the Company indemnifies its officers and directors for certain events or occurrences while the officer or director is, or was serving, at the Company's request in such capacity. The term of the indemnification period is for the officer's or director's lifetime. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company has a director and officer insurance policy that limits the Company's exposure and enables the Company to recover a portion of any future amounts paid. As a result of the Company's insurance policy coverage, the Company believes the estimated fair value of these indemnification agreements is minimal. The Company has no liabilities recorded for these agreements as of December 31, 2020. The Company enters into standard indemnification agreements in the ordinary course of business. Pursuant to these agreements, the Company indemnifies, holds harmless, and agrees to reimburse the indemnified party for losses suffered or incurred by the indemnified party, generally the Company's business partners or customers, in connection with any U.S. patent, or any copyright or other intellectual property infringement claim by any third party with respect to the Company's offerings. The term of these indemnification agreements is generally perpetual any time after execution of the agreement. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company has never incurred costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, the Company believes the estimated fair value of these agreements is minimal. The Company has no liabilities recorded for these agreements as of December 31, 2020. The Company enters into arrangements with its business partners, whereby the business partner agrees to provide services as a subcontractor for the Company's installations. Accordingly, the Company enters into standard indemnification agreements with its customers, whereby the Company indemnifies them for other acts, such as personal property damage, of its subcontractors. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company has general and umbrella insurance policies that enable the Company to recover a portion of any amounts paid. The Company has never incurred costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, the Company believes the estimated fair value of these agreements is minimal. The Company has no liabilities recorded for these agreements as of December 31, 2020. The Company has service level commitment obligations to certain of its customers. As a result, service interruptions or significant equipment damage in the Company's IBX data centers, whether or not within the Company's control, could result in service level commitments to these customers. The Company's liability insurance may not be adequate to cover those expenses. In addition, any loss of services, equipment damage or inability to meet the Company's service level commitment obligations could reduce the confidence of the Company's customers and could consequently impair the Company's ability to obtain and retain customers, which would adversely affect both the Company's ability to generate revenues and the Company's operating results. The Company generally has the ability to determine such service level credits prior to the associated revenue being recognized. The Company does not have significant liabilities in connection with service level credits as of December 31, 2020. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions EMEA Joint Venture As described in Note 5 above, the Company sold certain data center facilities in Europe to the EMEA Joint Venture in October 2019 and recognized a gain on asset sale of $45.1 million during the year ended December 31, 2019. In December 2020, the Company sold the PA9 data center to its EMEA Joint Venture and recognized an insignificant loss on the sale. For further information on the sale of data center transactions, see Note 5 above. In 2019, the Company also entered into a sub-lease agreement with the EMEA Joint Venture to sub-lease a portion of Equinix's London ("LD") 10-2 data center or former LD10 data center, for 15 years. The Company accounted for the lease of the LD10-2 data center as a finance lease. As of December 31, 2020, the Company recorded a finance lease ROU asset of £94.7 million and liability of £97.3 million, or approximately $127.2 million and $130.8 million, respectively, at the exchange rate in effect on December 31, 2020. As of December 31, 2019, the ROU asset and liability was £103.2 million, or approximately $136.7 million at the exchange rate in effect on December 31, 2019. For the year ended December 31, 2020, the Company recorded £11.1 million, or approximately $14.9 million at the exchange rate in effect as of December 31, 2020, of rent expense for the LD10-2 data center. For the year ended December 31, 2019, the rent expense for the data center was insignificant. In 2019, the Company also entered an agreement to lease to the EMEA Joint Venture a portion of land at its Frankfurt 2 data center site (or referred to as the Frankfurt 9 xScale TM data center) and a new building that is under construction at the land. The lease will have an initial term of 30 years and 2 renewal options of 10 years each. The consideration of the lease agreement will be based on the total cost of construction as determined when the construction is completed. As of December 31, 2020, the lease has not commenced yet and the Company recorded €14.1 million, or approximately $17.3 million at the exchange rate in effect as of December 31, 2020, of other liabilities in connection with the construction of the Frankfurt 9 xScale TM data center. The Company provides various services to the EMEA Joint Venture through multiple agreements, including sales and marketing, development management, facilities management, and asset management services. During the year ended December 31, 2020 and December 31, 2019, the Company had $6.5 million and $7.2 million, respectively, in total of receivables from the EMEA Joint Venture. During the year ended December 31, 2020, the total revenue recorded from these services was $21.3 million. For the year ended December 31, 2019, the total revenue recorded from these services was insignificant. See Note 6 above for more information on the EMEA Joint Venture. The transactions with the EMEA Joint Venture are generally considered to have been negotiated arm's length. Asia-Pacific Joint Venture In December 2020, the Company also sold certain data center facilities in Asia-Pacific region to the Asia-Pacific Joint Venture and recognized an insignificant gain on assets sale during the year ended December 31, 2020. For See Note 5 above for more information on the transaction. In connection with the Asia-Pacific Joint Venture investment, the Company also entered several agreements to provide various services to the Asia-Pacific Joint Venture, including portfolio management, sales and marketing, development, and facilities management services. During the year ended December 31, 2020, the Company had ¥1.7 billion or $16.9 million, in total at the exchange rate in effect on December 31, 2020, of receivables from the Asia-Pacific Joint Venture. During the year ended December 31, 2020, the total revenue recorded from these services and the accounts payable was insignificant. See Note 6 above for more information on the Asia-Pacific Joint Venture. The transactions with the Asia-Pacific Joint Venture are generally considered to have been negotiated arm's length. Other Related Party Transactions The Company has several significant stockholders and other related parties that are also customers and/or vendors. The Company's activity of other related party transactions was as follows (in thousands): Years ended December 31, 2020 2019 2018 Revenues $ 95,264 $ 25,905 $ 19,439 Costs and services 10,849 15,844 19,708 As of December 31, 2020 2019 Accounts receivable $ 6,519 $ 3,345 Accounts payable — 800 |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2020 | |
Segment Reporting [Abstract] | |
Segment Information | Segment Information While the Company has one primary line of business, which is the design, build-out and operation of IBX data centers, it has determined that it has three reportable segments comprised of its Americas, EMEA and Asia-Pacific geographic regions. The Company's chief operating decision-maker evaluates performance, makes operating decisions and allocates resources based on the Company's revenues and adjusted EBITDA performance both on a consolidated basis and based on these three reportable segments. The following tables present revenue information disaggregated by service lines and geographic areas (in thousands): Twelve Months Ended December 31, 2020 Americas (2) EMEA Asia-Pacific Total Colocation (1) $ 1,820,709 $ 1,504,770 $ 933,522 $ 4,259,001 Interconnection 622,327 213,490 187,441 1,023,258 Managed infrastructure 120,159 127,722 89,464 337,345 Other (1) 19,605 18,738 83 38,426 Recurring revenues 2,582,800 1,864,720 1,210,510 5,658,030 Non-recurring revenues 124,958 131,669 83,888 340,515 Total $ 2,707,758 $ 1,996,389 $ 1,294,398 $ 5,998,545 (1) Includes some leasing and hedging activities. (2) Includes revenues of $2.5 billion attributed to the U.S. Twelve Months Ended December 31, 2019 Americas (2) EMEA Asia-Pacific Total Colocation (1) $ 1,769,654 $ 1,395,544 $ 857,009 $ 4,022,207 Interconnection 576,709 161,552 155,328 893,589 Managed infrastructure 90,262 113,631 88,735 292,628 Other (1) 19,743 10,019 — 29,762 Recurring revenues 2,456,368 1,680,746 1,101,072 5,238,186 Non-recurring revenues 131,359 125,698 66,897 323,954 Total $ 2,587,727 $ 1,806,444 $ 1,167,969 $ 5,562,140 (1) Includes some leasing and hedging activities. (2) Includes revenues of $2.4 billion attributed to the U.S. Twelve Months Ended December 31, 2018 Americas (2) EMEA Asia-Pacific Total Colocation (1) $ 1,732,998 $ 1,201,769 $ 735,404 $ 3,670,171 Interconnection 532,163 138,874 130,928 801,965 Managed infrastructure 75,595 118,685 85,352 279,632 Other (1) 16,570 8,164 — 24,734 Recurring revenues 2,357,326 1,467,492 951,684 4,776,502 Non-recurring revenues 127,408 95,145 72,599 295,152 Total $ 2,484,734 $ 1,562,637 $ 1,024,283 $ 5,071,654 (1) Includes some leasing and hedging activities. (2) Includes revenues of $2.3 billion attributed to the U.S. No single customer accounted for 10% or greater of the Company's accounts receivable or revenues for the year ended December 31, 2020, 2019, and 2018. The Company defines adjusted EBITDA as income from operations excluding depreciation, amortization, accretion, stock-based compensation expense, restructuring charges, impairment charges, transaction costs and gain on asset sales as presented below for the years ended December 31 (in thousands): 2020 2019 2018 Adjusted EBITDA: Americas $ 1,186,022 $ 1,237,622 $ 1,183,831 EMEA 974,246 827,980 698,280 Asia-Pacific 692,630 622,125 531,129 Total adjusted EBITDA 2,852,898 2,687,727 2,413,240 Depreciation, amortization and accretion expense (1,427,010) (1,285,296) (1,226,741) Stock-based compensation expense (311,020) (236,539) (180,716) Transaction costs (55,935) (24,781) (34,413) Impairment charges (7,306) (15,790) — Gain on asset sales 1,301 44,310 6,013 Income from operations $ 1,052,928 $ 1,169,631 $ 977,383 The Company provides the following segment disclosures related to its operations as follows for the years ended December 31 (in thousands): 2020 2019 2018 Depreciation and amortization: Americas $ 729,611 $ 669,498 $ 636,214 EMEA 389,332 353,765 355,895 Asia-Pacific 304,426 261,574 235,380 Total $ 1,423,369 $ 1,284,837 $ 1,227,489 Capital expenditures: Americas $ 866,989 $ 805,360 $ 773,514 EMEA 888,239 733,326 884,790 Asia-Pacific 527,276 540,835 437,870 Total $ 2,282,504 $ 2,079,521 $ 2,096,174 The Company's long-lived assets, including property, plant and equipment, net and operating lease right-of-use assets, are located in the following geographic areas as of December 31 (in thousands): 2020 2019 Americas (1) $ 6,429,861 $ 5,400,287 EMEA 5,002,271 4,051,701 Asia-Pacific 3,070,952 2,700,609 Total Property, plant and equipment, net $ 14,503,084 $ 12,152,597 (1) Includes $5.2 billion and $4.8 billion, respectively, of property, plant and equipment, net attributed to the U.S. as of December 31, 2020 and 2019. 2020 2019 Americas (1) $ 363,515 $ 387,598 EMEA 547,547 521,129 Asia-Pacific 563,995 566,640 Total Operating lease right-of-use assets $ 1,475,057 $ 1,475,367 (1) Includes $334.7 million and $373.7 million of operating lease ROU assets attributed to the U.S. as of December 31, 2020 and 2019, respectively. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent EventsOn February 10, 2021, the Company's Board of Directors declared a quarterly cash dividend of $2.87 per share, which is payable on March 17, 2021 to the Company's common stockholders of record as of the close of business on February 24, 2021. |
Quarterly Financial Information
Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2020 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information (Unaudited) | Quarterly Financial Information (Unaudited)The Company believes that period-to-period comparisons of its financial results should not be relied upon as an indication of future performance. The Company's revenues and results of operations have been subject to significant fluctuations, particularly on a quarterly basis, and the Company's revenues and results of operations could fluctuate significantly quarter-to-quarter and year-to-year. Significant quarterly fluctuations in revenues will cause fluctuations in the Company's cash flows and the cash and cash equivalents and accounts receivable accounts on the Company's consolidated balance sheet. Causes of such fluctuations may include the volume and timing of new orders and renewals, the timing of the opening of new IBX data centers, the sales cycle for the Company's offerings, the introduction of new offerings, changes in prices and pricing models, trends in the internet infrastructure industry, general economic conditions, extraordinary events such as acquisitions or litigation and the occurrence of unexpected events. The unaudited quarterly financial information presented below has been prepared by the Company and reflects all adjustments, consisting only of normal recurring adjustments, which in the opinion of management are necessary to present fairly the financial position and results of operations for the interim periods presented. The following tables present selected quarterly information (in thousands, except per share data): 2020 Quarters Ended March 31 June 30 September 30 December 31 Revenues $ 1,444,542 $ 1,470,121 $ 1,519,767 $ 1,564,115 Gross profit 708,260 730,777 751,788 733,380 Net income attributable to Equinix 118,792 133,304 66,687 50,994 Earnings per share attributable to Equinix: Basic 1.39 1.53 0.75 0.57 Diluted 1.38 1.52 0.74 0.57 2019 Quarters Ended March 31 June 30 September 30 December 31 Revenues $ 1,363,218 $ 1,384,977 $ 1,396,810 $ 1,417,135 Gross profit 681,188 686,798 692,471 691,499 Net income attributable to Equinix 118,078 143,527 120,850 124,995 Earnings per share attributable to Equinix: Basic 1.44 1.70 1.42 1.47 Diluted 1.44 1.69 1.41 1.46 |
Schedule III - Real Estate and
Schedule III - Real Estate and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2020 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
Schedule III - Real Estate and Accumulated Depreciation | SCHEDULE III - SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2020 (Dollars in Thousands) Initial Costs to Company (1) Costs Capitalized Subsequent to Acquisition or Lease Total Costs Encumbrances Land Buildings and Improvements (2) Land Buildings and Improvements (2) Land Buildings and Improvements (2) Accumulated Depreciation (3) Date of Acquisition or Lease (4) Americas: AT1 ATLANTA (METRO) $— $— $— $— $149,726 $— $149,726 $(71,990) 2010 AT2 ATLANTA (METRO) — — — — 38,752 — 38,752 (25,341) 2010 AT3 ATLANTA (METRO) — — — — 4,453 — 4,453 (2,920) 2010 AT4 ATLANTA (METRO) — 5,400 20,209 — 19,094 5,400 39,303 (11,019) 2017 AT5 ATLANTA (METRO) — — 5,011 — 2,085 — 7,096 (4,093) 2017 BG1 BOGOTÁ (METRO), COLOMBIA — — 8,779 869 6,723 869 15,502 (4,376) 2017 BO1 BOSTON (METRO) — — — — 6,128 — 6,128 (6,128) 2010 BO2 BOSTON (METRO) — 2,500 30,383 — 34,228 2,500 64,611 (12,739) 2017 CH1 CHICAGO (METRO) — — — — 159,193 — 159,193 (101,581) 1999 CH2 CHICAGO (METRO) — — — — 115,685 — 115,685 (66,162) 2005 CH3 CHICAGO (METRO) — 9,759 — 351 341,835 10,110 341,835 (137,686) 2006 CH4 CHICAGO (METRO) — — — — 22,322 — 22,322 (13,361) 2009 CH7 CHICAGO (METRO) — 670 10,564 — 6,790 670 17,354 (5,145) 2017 CL1 CALGARY (METRO), CANADA — — 11,572 — 480 — 12,052 (434) 2020 CL2 CALGARY (METRO), CANADA — — 14,145 — 529 — 14,674 (765) 2020 CL3 CALGARY (METRO), CANADA — 7,910 69,334 327 2,954 8,237 72,288 (1,321) 2020 CU1 CULPEPER (METRO) — 1,019 37,581 — 4,871 1,019 42,452 (14,421) 2017 CU2 CULPEPER (METRO) — 1,244 48,000 — 11,928 1,244 59,928 (15,169) 2017 CU3 CULPEPER (METRO) — 1,088 37,387 — 2,521 1,088 39,908 (11,474) 2017 CU4 CULPEPER (METRO) — 1,372 27,832 — 34,465 1,372 62,297 (9,689) 2017 DA1 DALLAS (METRO) — — — — 66,965 — 66,965 (40,362) 2000 DA2 DALLAS (METRO) — — — — 81,465 — 81,465 (32,195) 2010 DA3 DALLAS (METRO) — — — — 97,116 — 97,116 (41,659) 2010 DA4 DALLAS (METRO) — — — — 16,354 — 16,354 (8,639) 2010 DA6 DALLAS (METRO) — — 20,522 — 169,212 — 189,734 (39,429) 2012 DA7 DALLAS (METRO) — — — — 30,166 — 30,166 (13,438) 2015 DA9 DALLAS (METRO) — 610 15,398 — 4,922 610 20,320 (6,383) 2017 DA10 DALLAS (METRO) — — 117 — 4,652 — 4,769 (4,509) 2017 DA11 DALLAS (METRO) — — — — 149,413 — 149,413 (3,357) 2018 INFOMART BUILDING DALLAS (METRO) — 24,380 337,643 3,293 19,306 27,673 356,949 (31,254) 2018 DC1 WASHINGTON, DC (METRO) — — — — 5,074 — 5,074 (1,724) 1999 DC2 WASHINGTON, DC (METRO) — — — 5,047 125,215 5,047 125,215 (96,720) 1999 DC3 WASHINGTON, DC (METRO) — — 37,451 — 48,143 — 85,594 (52,185) 2004 Initial Costs to Company (1) Costs Capitalized Subsequent to Acquisition or Lease Total Costs Encumbrances Land Buildings and Improvements (2) Land Buildings and Improvements (2) Land Buildings and Improvements (2) Accumulated Depreciation (3) Date of Acquisition or Lease (4) DC4 WASHINGTON, DC (METRO) — 1,906 7,272 — 72,988 1,906 80,260 (56,626) 2005 DC5 WASHINGTON, DC (METRO) — 1,429 4,983 — 91,964 1,429 96,947 (66,813) 2005 DC6 WASHINGTON, DC (METRO) — 1,429 5,082 — 91,392 1,429 96,474 (51,457) 2005 DC7 WASHINGTON, DC (METRO) — — — — 19,065 — 19,065 (13,307) 2010 DC10 WASHINGTON, DC (METRO) — — 44,601 — 82,413 — 127,014 (84,550) 2011 DC11 WASHINGTON, DC (METRO) — 1,429 5,082 — 184,646 1,429 189,728 (61,598) 2005 DC12 WASHINGTON, DC (METRO) — — 101,783 — 79,537 — 181,320 (27,546) 2017 DC13 WASHINGTON, DC (METRO) — 5,500 25,423 — 9,994 5,500 35,417 (12,830) 2017 DC14 WASHINGTON, DC (METRO) — 2,560 33,511 — 14,108 2,560 47,619 (11,487) 2017 DC15 WASHINGTON, DC (METRO) — 1,965 — — 119,825 1,965 119,825 (5,662) 2018 DC21 WASHINGTON, DC (METRO) — 1,507 — — 93,873 1,507 93,873 (740) 2019 DC97 WASHINGTON, DC (METRO) — — 2,021 — 1,004 — 3,025 (1,521) 2017 DE1 DENVER (METRO) — — — — 9,721 — 9,721 (8,659) 2010 DE2 DENVER (METRO) — 5,240 23,053 — 29,937 5,240 52,990 (14,648) 2017 HO1 HOUSTON (METRO) — 1,440 23,780 — 32,344 1,440 56,124 (14,937) 2017 KA1 KAMLOOPS (METRO), CANADA — 2,991 46,983 123 1,992 3,114 48,975 (785) 2020 LA1 LOS ANGELES (METRO) — — — — 108,749 — 108,749 (70,766) 1999 LA2 LOS ANGELES (METRO) — — — — 10,610 — 10,610 (8,958) 2000 LA3 LOS ANGELES (METRO) — — 34,727 3,959 21,167 3,959 55,894 (46,574) 2005 LA4 LOS ANGELES (METRO) — 19,333 137,630 — 51,824 19,333 189,454 (94,090) 2009 LA7 LOS ANGELES (METRO) — 7,800 33,621 — 48,002 7,800 81,623 (13,405) 2017 MI1 MIAMI (METRO) — 18,920 127,194 — 99,480 18,920 226,674 (59,709) 2017 MI2 MIAMI (METRO) — — — — 22,581 — 22,581 (13,798) 2010 MI3 MIAMI (METRO) — — — — 33,162 — 33,162 (17,881) 2012 MI6 MIAMI (METRO) — 4,750 23,017 — 8,943 4,750 31,960 (11,983) 2017 MO1 MONTERREY (METRO), MEXICO — — 2,572 — 3,278 — 5,850 (332) 2020 MT1 MONTREAL (METRO), CANADA — — 76,932 — 3,053 — 79,985 (1,731) 2020 MX1 MEXICO CITY (METRO), MEXICO — 1,090 53,980 — 8,685 1,090 62,665 (3,891) 2020 MX2 MEXICO CITY (METRO), MEXICO — 1,090 16,061 — 11,160 1,090 27,221 (896) 2020 NY1 NEW YORK (METRO) — — — — 71,191 — 71,191 (44,088) 1999 NY2 NEW YORK (METRO) — — — 17,859 205,092 17,859 205,092 (131,644) 2000 NY4 NEW YORK (METRO) — — — — 355,278 — 355,278 (199,915) 2006 NY5 NEW YORK (METRO) — — — — 277,162 — 277,162 (82,406) 2010 NY6 NEW YORK (METRO) — — — — 69,925 — 69,925 (15,436) 2010 NY7 NEW YORK (METRO) — — 24,660 — 168,391 — 193,051 (133,370) 2010 NY8 NEW YORK (METRO) — — — — 11,461 — 11,461 (8,879) 2010 NY9 NEW YORK (METRO) — — — — 50,566 — 50,566 (35,782) 2010 NY11 NEW YORK (METRO) — 2,050 58,717 — 13,134 2,050 71,851 (23,545) 2017 Initial Costs to Company (1) Costs Capitalized Subsequent to Acquisition or Lease Total Costs Encumbrances Land Buildings and Improvements (2) Land Buildings and Improvements (2) Land Buildings and Improvements (2) Accumulated Depreciation (3) Date of Acquisition or Lease (4) NY13 NEW YORK (METRO) — — 31,603 — 6,488 — 38,091 (14,966) 2017 OT1 OTTAWA (METRO), CANADA — 1,586 39,128 61 1,664 1,647 40,792 (688) 2020 PH1 PHILADELPHIA (METRO) — — — — 44,037 — 44,037 (18,883) 2010 RJ1 RIO DE JANEIRO (METRO), BRAZIL — — — — 17,456 — 17,456 (13,090) 2011 RJ2 RIO DE JANEIRO (METRO), BRAZIL — — 2,012 1,267 52,127 1,267 54,139 (17,571) 2012 SE2 SEATTLE (METRO) — — — — 30,454 — 30,454 (23,345) 2010 SE3 SEATTLE (METRO) — — 1,760 — 99,988 — 101,748 (56,100) 2011 SE4 SEATTLE (METRO) — 4,000 12,903 — 34,330 4,000 47,233 (8,025) 2017 SJ1 SAINT JOHN (METRO), CANADA — 162 14,276 7 591 169 14,867 (305) 2020 SP1 SÃO PAULO (METRO), BRAZIL — — 10,188 — 15,875 — 26,063 (21,018) 2011 SP2 SÃO PAULO (METRO), BRAZIL — — — 3,083 53,322 3,083 53,322 (41,337) 2011 SP3 SÃO PAULO (METRO), BRAZIL — 7,748 72,997 — 46,935 7,748 119,932 (26,368) 2017 SP4 SÃO PAULO (METRO), BRAZIL — — 22,027 — 50,707 — 72,734 (8,830) 2017 SP5 SÃO PAULO (METRO), BRAZIL — 4,597 37 — 4,432 4,597 4,469 (3) 2020 SV1 SILICON VALLEY (METRO) — — — 15,545 143,123 15,545 143,123 (96,427) 1999 SV2 SILICON VALLEY (METRO) — — — — 151,960 — 151,960 (92,409) 2003 SV3 SILICON VALLEY (METRO) — — — — 77,801 — 77,801 (38,319) 1999 SV4 SILICON VALLEY (METRO) — — — — 90,876 — 90,876 (26,253) 2005 SV5 SILICON VALLEY (METRO) — 6,238 98,991 — 99,539 6,238 198,530 (82,024) 2010 SV6 SILICON VALLEY (METRO) — — 15,585 — 29,618 — 45,203 (37,953) 2010 SV8 SILICON VALLEY (METRO) — — — — 54,166 — 54,166 (35,901) 2010 SV10 SILICON VALLEY (METRO) — 12,646 123,594 — 92,145 12,646 215,739 (31,147) 2017 SV11 SILICON VALLEY (METRO) — — — — 88,914 — 88,914 — 2019 SV12 SILICON VALLEY (METRO) — 20,313 — — 8,240 20,313 8,240 — 2015 SV13 SILICON VALLEY (METRO) — — 3,828 — 117 — 3,945 (3,016) 2017 SV14 SILICON VALLEY (METRO) — 3,638 5,503 — 3,807 3,638 9,310 (2,503) 2017 SV15 SILICON VALLEY (METRO) — 7,651 23,060 — 3,710 7,651 26,770 (8,071) 2017 SV16 SILICON VALLEY (METRO) — 4,271 15,018 — 1,753 4,271 16,771 (5,408) 2017 SV17 SILICON VALLEY (METRO) — — 17,493 — 3,340 — 20,833 (13,269) 2017 TR1 TORONTO (METRO), CANADA — — — — 91,618 — 91,618 (34,280) 2010 TR2 TORONTO (METRO), CANADA — — 21,113 106,171 135,300 106,171 156,413 (25,566) 2015 TR4 TORONTO (METRO), CANADA — — 13,985 — 593 — 14,578 (954) 2020 TR5 MARKHAM (METRO), CANADA — — 24,913 — 798 — 25,711 (1,020) 2020 TR6 BRAMPTON (METRO), CANADA — 9,386 60,806 388 2,516 9,774 63,322 (831) 2020 TR7 BRAMPTON (METRO), CANADA — 12,098 71,966 500 3,041 12,598 75,007 (1,462) 2020 VA1 BURNABY (METRO), CANADA — — 4,668 — 193 — 4,861 (113) 2020 WI1 WINNIPEG (METRO), CANADA — — 57,234 — 1,048 — 58,282 (441) 2020 OTHERS (5) — 80,313 49,891 1,805 39,954 82,118 89,845 (11,430) Various Initial Costs to Company (1) Costs Capitalized Subsequent to Acquisition or Lease Total Costs Encumbrances Land Buildings and Improvements (2) Land Buildings and Improvements (2) Land Buildings and Improvements (2) Accumulated Depreciation (3) Date of Acquisition or Lease (4) EMEA: AD1 ABU DHABI (METRO), UNITED ARAB EMIRATES — — — — 74,541 — 74,541 (4,350) 2017 AM1 AMSTERDAM (METRO), THE NETHERLANDS — — — — 102,173 — 102,173 (52,121) 2008 AM2 AMSTERDAM (METRO), THE NETHERLANDS — — — — 91,788 — 91,788 (37,165) 2008 AM3 AMSTERDAM (METRO), THE NETHERLANDS — — 27,099 — 143,882 — 170,981 (66,656) 2011 AM4 AMSTERDAM (METRO), THE NETHERLANDS — — — — 236,429 — 236,429 (26,431) 2016 AM5 AMSTERDAM (METRO), THE NETHERLANDS — — 92,199 — 23,456 — 115,655 (34,479) 2016 AM6 AMSTERDAM (METRO), THE NETHERLANDS — 6,616 50,876 1,066 97,923 7,682 148,799 (27,059) 2016 AM7 AMSTERDAM (METRO), THE NETHERLANDS — — 7,397 — 125,527 — 132,924 (12,374) 2016 AM8 AMSTERDAM (METRO), THE NETHERLANDS — — — — 12,328 — 12,328 (5,609) 2016 AM11 AMSTERDAM (METRO), THE NETHERLANDS — — 6,405 447 12,573 447 18,978 (1,307) 2019 BA1 BARCELONA (METRO), SPAIN — — 9,443 — 12,344 — 21,787 (6,694) 2017 BX1 BORDEAUX (METRO), FRANCE — 1,916 3,507 168 13,607 2,084 17,114 (169) 2020 DB1 DUBLIN (METRO), IRELAND — — — — 5,000 — 5,000 (3,928) 2016 DB2 DUBLIN (METRO), IRELAND — — 12,460 — 7,308 — 19,768 (9,220) 2016 DB3 DUBLIN (METRO), IRELAND — 3,334 54,387 537 22,764 3,871 77,151 (21,084) 2016 DB4 DUBLIN (METRO), IRELAND — — 26,875 — 19,562 — 46,437 (9,564) 2016 DU1 DÜSSELDORF (METRO), GERMANY — — — 8,841 33,851 8,841 33,851 (20,737) 2000 DX1 DUBAI (METRO), UNITED ARAB EMIRATES — — — — 93,373 — 93,373 (33,359) 2008 DX2 DUBAI (METRO), UNITED ARAB EMIRATES — — — — 645 — 645 (256) 2017 DX3 DUBAI (METRO), UNITED ARAB EMIRATES — 6,737 — — 61 6,737 61 (151) 2020 EN1 ENSCHEDE (METRO), THE NETHERLANDS — — — — 35,366 — 35,366 (25,788) 2008 FR1 FRANKFURT (METRO), GERMANY — — — — 4,529 — 4,529 (4,214) 2007 FR2 FRANKFURT (METRO), GERMANY — — — 15,840 555,694 15,840 555,694 (161,968) 2007 FR4 FRANKFURT (METRO), GERMANY — 11,578 9,307 1,865 97,862 13,443 107,169 (36,277) 2009 FR5 FRANKFURT (METRO), GERMANY 30,310 — — 15,256 228,532 15,256 228,532 (53,688) 2012 FR6 FRANKFURT (METRO), GERMANY — — — — 150,011 — 150,011 (26,802) 2016 FR7 FRANKFURT (METRO), GERMANY — — 43,634 — 40,046 — 83,680 (26,695) 2016 Initial Costs to Company (1) Costs Capitalized Subsequent to Acquisition or Lease Total Costs Encumbrances Land Buildings and Improvements (2) Land Buildings and Improvements (2) Land Buildings and Improvements (2) Accumulated Depreciation (3) Date of Acquisition or Lease (4) FR8 FRANKFURT (METRO), GERMANY — 21,934 58,199 — — 21,934 58,199 (224) 2020 FR9x FRANKFURT (METRO), GERMANY — — — — 41,714 — 41,714 — 2020 FR11x FRANKFURT (METRO), GERMANY — — — — 15,303 — 15,303 — 2020 GN1 GENOA (METRO), ITALY — 1,988 — — 1,123 1,988 1,123 — 2020 GV1 GENEVA (METRO), SWITZERLAND — — — — 25,771 — 25,771 (4,978) 2004 GV2 GENEVA (METRO), SWITZERLAND — — — — 27,883 — 27,883 (23,289) 2009 HE1 HELSINKI (METRO), FINLAND — — — — 4,212 — 4,212 (3,462) 2016 HE3 HELSINKI (METRO), FINLAND — — — — 15,829 — 15,829 (9,926) 2016 HE4 HELSINKI (METRO), FINLAND — — 29,092 — 9,694 — 38,786 (18,078) 2016 HE5 HELSINKI (METRO), FINLAND — — 7,564 — 18,302 — 25,866 (5,020) 2016 HE6 HELSINKI (METRO), FINLAND — — 17,204 1,711 31,603 1,711 48,807 (13,254) 2016 HE7 HELSINKI (METRO), FINLAND — 7,348 6,946 1,765 42,184 9,113 49,130 (3,160) 2018 HH1 HAMBURG (METRO), GERMANY — 3,612 5,360 921 46,485 4,533 51,845 (1,988) 2018 IL2 ISTANBUL (METRO), TURKEY — 14,460 39,289 — 19,344 14,460 58,633 (7,346) 2017 LD3 LONDON (METRO), UNITED KINGDOM — — — — 18,023 — 18,023 (17,772) 2000 LD4 LONDON (METRO), UNITED KINGDOM — — 23,044 2 134,786 2 157,830 (52,213) 2007 LD5 LONDON (METRO), UNITED KINGDOM — — 16,412 — 189,038 — 205,450 (100,960) 2010 LD6 LONDON (METRO), UNITED KINGDOM — — — — 148,540 — 148,540 (36,792) 2013 LD7 LONDON (METRO), UNITED KINGDOM — — — 2,295 191,545 2,295 191,545 (9,192) 2018 LD8 LONDON (METRO), UNITED KINGDOM — — 107,544 — 62,258 — 169,802 (49,894) 2016 LD9 LONDON (METRO), UNITED KINGDOM — — 181,431 — 168,666 — 350,097 (80,850) 2016 LD10 LONDON (METRO), UNITED KINGDOM — — 40,251 — 104,869 — 145,120 (13,014) 2017 LS1 LISBON (METRO), PORTUGAL — — 7,374 3,776 9,859 3,776 17,233 (3,607) 2017 MA1 MANCHESTER (METRO), UNITED KINGDOM — — — — 14,532 — 14,532 (6,536) 2016 MA2 MANCHESTER (METRO), UNITED KINGDOM — — — — 15,828 — 15,828 (7,793) 2016 MA3 MANCHESTER (METRO), UNITED KINGDOM — — 44,931 — 9,328 — 54,259 (26,170) 2016 MA4 MANCHESTER (METRO), UNITED KINGDOM — — 6,697 — 5,331 — 12,028 (8,813) 2016 MA5 MANCHESTER (METRO), UNITED KINGDOM — 3,706 6,874 385 12,185 4,091 19,059 (142) 2020 MC1 MUSCAT (METRO), OMAN — — — — 182 — 182 (1) 2019 MD1 MADRID (METRO), SPAIN — — 7,917 11,939 6,902 11,939 14,819 (4,795) 2017 MD2 MADRID (METRO), SPAIN — — 40,952 — 52,855 — 93,807 (28,952) 2017 ML2 MILAN (METRO), ITALY — — — — 23,808 — 23,808 (12,490) 2016 ML3 MILAN (METRO), ITALY — — — 3,882 46,399 3,882 46,399 (14,386) 2016 ML4 MILAN (METRO), ITALY — — — — 9,983 — 9,983 (6,829) 2016 ML5 MILAN (METRO), ITALY — 7,741 20,952 5,621 42,501 13,362 63,453 (156) 2019 Initial Costs to Company (1) Costs Capitalized Subsequent to Acquisition or Lease Total Costs Encumbrances Land Buildings and Improvements (2) Land Buildings and Improvements (2) Land Buildings and Improvements (2) Accumulated Depreciation (3) Date of Acquisition or Lease (4) MU1 MUNICH (METRO), GERMANY — — — — 35,105 — 35,105 (18,095) 2007 MU3 MUNICH (METRO), GERMANY — — — — 5,265 — 5,265 (2,549) 2010 MU4 MUNICH (METRO), GERMANY — 13,020 35,120 — — 13,020 35,120 (4) 2020 PA1 PARIS (METRO), FRANCE — — — — 13,254 — 13,254 (15,966) 2007 PA2 & PA3 PARIS (METRO), FRANCE — — 29,615 25,346 334,904 25,346 364,519 (142,901) 2007 PA4 PARIS (METRO), FRANCE — 1,598 9,503 6,040 256,203 7,638 265,706 (80,320) 2011 PA5 PARIS (METRO), FRANCE — — 16,554 — 5,067 — 21,621 (6,976) 2016 PA6 PARIS (METRO), FRANCE — — — — 75,895 — 75,895 (34,544) 2016 PA7 PARIS (METRO), FRANCE — — — — 22,011 — 22,011 (10,440) 2016 PA10 PARIS (METRO), FRANCE — — — — 51,536 — 51,536 (48) 2019 SA1 SEVILLE (METRO), SPAIN — — 1,567 — 1,173 — 2,740 (2,181) 2017 SK1 STOCKHOLM, (METRO), SWEDEN — — 15,495 — 17,028 — 32,523 (10,244) 2016 SK2 STOCKHOLM, (METRO), SWEDEN — — 80,148 4,304 87,585 4,304 167,733 (33,517) 2016 SK3 STOCKHOLM, (METRO), SWEDEN — — — — 18,894 — 18,894 (5,535) 2016 SO1 SOFIA (METRO), BULGARIA — — 5,236 — 4,721 — 9,957 (2,619) 2016 SO2 SOFIA (METRO), BULGARIA — 2,719 — 241 18,625 2,960 18,625 (1,368) 2017 WA1 WARSAW (METRO), POLAND — — 5,950 — 26,442 — 32,392 (7,596) 2016 WA2 WARSAW (METRO), POLAND — — 4,709 — 9,497 — 14,206 (4,666) 2016 WA3 WARSAW (METRO), POLAND — 2,784 — 75 46,005 2,859 46,005 (1,399) 2017 ZH2 ZURICH (METRO), SWITZERLAND — — — — 3,613 — 3,613 (2,830) 2002 ZH4 ZURICH (METRO), SWITZERLAND — — 11,284 — 34,739 — 46,023 (26,926) 2009 ZH5 ZURICH (METRO), SWITZERLAND — — — 8,315 198,829 8,315 198,829 (27,791) 2009 ZW1 ZWOLLE (METRO), THE NETHERLANDS — — — — 11,191 — 11,191 (8,544) 2008 OTHERS (5) — 48,761 18,735 28,924 61,859 77,685 80,594 (5,745) Various Asia-Pacific: AE1 ADELAIDE (METRO), AUSTRALIA — 2,654 1,015 258 2,077 2,912 3,092 (766) 2018 BR1 BRISBANE (METRO), AUSTRALIA — 3,159 1,053 307 2,880 3,466 3,933 (560) 2018 CA1 CANBERRA (METRO), AUSTRALIA — — 18,410 — 8,167 — 26,577 (2,524) 2018 HK1 HONG KONG (METRO), CHINA — — — — 275,411 — 275,411 (112,144) 2003 HK2 HONG KONG (METRO), CHINA — — — — 235,711 — 235,711 (147,496) 2010 HK3 HONG KONG (METRO), CHINA — — — — 144,741 — 144,741 (80,873) 2012 HK4 HONG KONG (METRO), CHINA — — — — 93,809 — 93,809 (9,739) 2012 HK5 HONG KONG (METRO), CHINA — — 70,002 — 40,439 — 110,441 (20,243) 2017 ME1 MELBOURNE (METRO), AUSTRALIA — 14,926 — 1,452 96,943 16,378 96,943 (25,498) 2013 ME2 MELBOURNE (METRO), AUSTRALIA — — — — 89,372 — 89,372 (3,718) 2018 ME4 MELBOURNE (METRO), AUSTRALIA — 3,425 84,175 334 19,555 3,759 103,730 (18,274) 2018 ME5 MELBOURNE (METRO), AUSTRALIA — 6,655 4,094 647 4,863 7,302 8,957 (2,135) 2018 Initial Costs to Company (1) Costs Capitalized Subsequent to Acquisition or Lease Total Costs Encumbrances Land Buildings and Improvements (2) Land Buildings and Improvements (2) Land Buildings and Improvements (2) Accumulated Depreciation (3) Date of Acquisition or Lease (4) OS1 OSAKA (METRO), JAPAN — — 14,876 — 109,268 — 124,144 (37,310) 2013 OS3 OSAKA (METRO), JAPAN — — — — 1,491 — 1,491 — 2020 PE1 PERTH (METRO), AUSTRALIA — 1,347 1,337 132 2,070 1,479 3,407 (408) 2018 PE2 PERTH (METRO), AUSTRALIA — — 16,327 — 17,637 — 33,964 (5,885) 2018 PE3 PERTH (METRO), AUSTRALIA — — — — 43,076 — 43,076 — 2020 SG1 SINGAPORE (METRO) — — — — 263,516 — 263,516 (126,298) 2003 SG2 SINGAPORE (METRO) — — — — 301,305 — 301,305 (223,677) 2008 SG3 SINGAPORE (METRO) — — 34,844 — 227,324 — 262,168 (68,707) 2013 SG4 SINGAPORE (METRO) — — 54,602 — 117,537 — 172,139 (7,303) 2019 SG5 SINGAPORE (METRO) — — — — 74,579 — 74,579 (6) 2019 SH2 SHANGHAI (METRO), CHINA — — — — 6,169 — 6,169 (2,515) 2012 SH3 SHANGHAI (METRO), CHINA — — 7,066 — 12,132 — 19,198 (6,870) 2012 SH5 SHANGHAI (METRO), CHINA — — 11,284 — 22,973 — 34,257 (14,764) 2012 SH6 SHANGHAI (METRO), CHINA — — 16,545 — 25,177 — 41,722 (3,491) 2017 SL1 SEOUL (METRO), SOUTH KOREA — — 29,236 — 41,305 — 70,541 (5,901) 2019 SY1 SYDNEY (METRO), AUSTRALIA — — — — 33,242 — 33,242 (22,970) 2003 SY2 SYDNEY (METRO), AUSTRALIA — — 3,080 — 26,936 — 30,016 (24,626) 2008 SY3 SYDNEY (METRO), AUSTRALIA — — 8,712 — 158,023 — 166,735 (86,628) 2010 SY4 SYDNEY (METRO), AUSTRALIA — — — — 187,449 — 187,449 (44,397) 2014 SY5 SYDNEY (METRO), AUSTRALIA — 82,091 — 7,987 209,356 90,078 209,356 (7,028) 2018 SY6 SYDNEY (METRO), AUSTRALIA — 8,860 64,197 861 17,594 9,721 81,791 (10,201) 2018 SY7 SYDNEY (METRO), AUSTRALIA — 2,745 47,350 267 8,854 3,012 56,204 (6,959) 2018 SY8 SYDNEY (METRO), AUSTRALIA — — 1,073 — 593 — 1,666 (892) 2018 TY1 TOKYO (METRO), JAPAN — — — — 39,230 — 39,230 (23,170) 2000 TY2 TOKYO (METRO), JAPAN — — — — 96,496 — 96,496 (71,144) 2006 TY3 TOKYO (METRO), JAPAN — — — — 85,876 — 85,876 (47,128) 2010 TY4 TOKYO (METRO), JAPAN — — — — 82,725 — 82,725 (34,195) 2012 TY5 TOKYO (METRO), JAPAN — — 102 — 65,372 — 65,474 (18,311) 2014 TY6 TOKYO (METRO), JAPAN — — 37,941 — 15,474 — 53,415 (33,005) 2015 TY7 TOKYO (METRO), JAPAN — — 13,175 — 7,323 — 20,498 (14,101) 2015 TY8 TOKYO (METRO), JAPAN — — 53,848 — 17,245 — 71,093 (28,569) 2015 TY9 TOKYO (METRO), JAPAN — — 106,710 — 30,151 — 136,861 (80,293) 2015 TY10 TOKYO (METRO), JAPAN — — 69,881 — 22,675 — 92,556 (26,774) 2015 TY11 TOKYO (METRO), JAPAN — — 22,099 — 198,696 — 220,795 (10,068) 2018 OTHERS (5) — — 875 36,057 22,529 36,057 23,404 (9,643) Various TOTAL LOCATIONS $30,310 $598,742 $4,498,639 $358,519 $14,705,885 $957,261 $19,204,524 $(6,399,477) (1) The initial cost was $0 if the lease of the respective IBX was classified as an operating lease. (2) Building and improvements include all fixed assets except for land. (3) Buildings and improvements are depreciated on a straight line basis over estimated useful live as described under described in Note 1 within the Consolidated Financial Statements. (4) Date of lease or acquisition represents the date the Company leased the facility or acquired the facility through purchase or acquisition. (5) Includes various IBXs that are under initial development and costs incurred at certain central locations supporting various IBX functions. The aggregate gross cost of the Company's properties for federal income tax purpose approximated $27.2 billion (unaudited) as of December 31, 2020. The following table reconciles the historical cost of the Company's properties for financial reporting purposes for each of the years in the three-year period ended December 31, 2020 (in thousands). Gross Fixed Assets: 2020 2019 2018 Balance, beginning of period $ 16,927,332 $ 15,020,198 $ 12,947,735 ASC 842 adoption impact (1) — (276,671) — Additions (including acquisitions and improvements) 3,110,907 2,632,472 2,756,218 Disposals (446,864) (463,485) (289,157) Foreign currency transaction adjustments and others 570,410 14,818 (394,598) Balance, end of year $ 20,161,785 $ 16,927,332 $ 15,020,198 Accumulated Depreciation: 2020 2019 2018 Balance, beginning of period $ (5,329,182) $ (4,517,016) $ (3,980,198) ASC 842 adoption impact (1) — (7,846) — Additions (depreciation expense) (1,036,452) (926,046) (882,848) Disposals 109,230 128,352 261,928 Foreign currency transaction adjustments and others (143,073) (6,626) 84,102 Balance, end of year $ (6,399,477) $ (5,329,182) $ (4,517,016) (1) Upon the adoption of Topic 842 on January 1, 2019, the Company de-recognized certain fixed assets under built-to-suite leases due to the conversion of certain build-to-suit leases to operating leases. See Note 1 within the Consolidated Financial Statements. |
Nature of Business and Summar_2
Nature of Business and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation, Consolidation and Foreign Currency | Basis of Presentation, Consolidation and Foreign Currency The accompanying consolidated financial statements include the accounts of Equinix and its subsidiaries, including the acquisitions of: • Infomart Dallas, including its operations and tenants, from ASB Real Estate Investments (the "Infomart Dallas Acquisition") from April 2, 2018; • Metronode from the Ontario Teachers' Pension Plan Board (the "Metronode Acquisition") from April 18, 2018; • Switch Datacenters' AMS1 data center business in Amsterdam, Netherlands from April 18, 2019; • Three data centers in Mexico acquired from Axtel S.A.B. de C.V ("Axtel") from January 8, 2020; • Packet Host, Inc. (“Packet”), including its operations and technology, from March 2, 2020; and • 12 data center sites across Canada from BCE Inc. ("Bell") from October 1, 2020 and one additional data center site from November 2, 2020. |
Use of Estimates | Use of Estimates The preparation of consolidated financial statements in conformity with the accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to the allowance for credit losses, fair values of financial and derivative instruments, intangible assets and goodwill, assets acquired and liabilities assumed from acquisitions, useful lives of intangible assets and property, plant and equipment, leases, asset retirement obligations, other accruals, and |
Cash, Cash Equivalents and Short-Term Investments | Cash, Cash Equivalents and Short-Term Investments The Company considers all highly liquid instruments with an original maturity from the date of purchase of 90 days or less to be cash equivalents. Cash equivalents consist of money market mutual funds and certificates of deposit with original maturities up to 90 days. Short-term investments generally consist of certificates of deposit with original maturities of between 90 days and 1 year. Publicly traded equity securities are measured at fair value with changes in the fair values recognized within other income (expense) in the Company's consolidated statements of operations. The Company reviews its investment portfolio quarterly to determine if any securities may be other-than-temporarily impaired due to increased credit risk, changes in industry or sector of a certain instrument or ratings downgrades. |
Equity Method Investments and Non-marketable Equity Investments | Equity Method Investments The Company enters into joint venture or partnership arrangements to invest in certain entities for business development objectives. At the inception of these arrangements and if a reconsideration event has occurred, the Company assesses its interests with such entities to determine whether any of the entities meet the definition of a VIE. A VIE is an entity that either (i) has insufficient equity to permit the entity to finance its activities without additional subordinated financial support, or (ii) has equity investors who lack the characteristics of a controlling financial interest. The Company is required to consolidate the assets and liabilities of VIEs when it is deemed to be the primary beneficiary. The primary beneficiary of a VIE is the entity that meets both of the following criteria: (i) has the power to make decisions that most significantly affect the economic performance of the VIE; and (ii) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. For VIEs where the Company is not the primary beneficiary, and other joint ventures or partnerships that are not VIEs, where the Company has the ability to exercise significant influence over the entity, the Company accounts its investment under the equity method of accounting. Equity method investments are initially measured at cost, or at fair value when the investment represents a retained equity interest in a deconsolidated business or an investment recognized upon the derecognition of distinct non-financial assets. Equity investments are subsequently adjusted for cash contributions, distributions and the Company's share of the income and losses of the investees. The Company records its equity method investments in other assets in the consolidated balance sheet. The Company's proportionate share of the income or loss from its equity method investments are recorded in other income in the consolidated statement of operations. The Company reviews its investments quarterly to determine if any investments may be impaired considering both qualitative and quantitative factors that may have a significant impact on the investees' fair value. The Company did not record any impairment charges related to its equity method investments for the years ended December 31, 2020, 2019 and 2018. For further information on the Company's Equity Method Investments, see Note 6. Non-marketable Equity Investments The Company also has investments in non-marketable equity securities, where the Company does not have the ability to exercise significant influence over the investees. The Company elected the measurement alternative under which the securities are measured at cost minus impairment, if any, and adjusted for changes resulting from qualifying observable price changes. The Company records non-marketable equity investment in other assets in the consolidated balance sheet. The Company reviews its non-marketable equity investments quarterly to determine if any investments may be impaired considering both qualitative and quantitative factors that may have a significant impact on the investees' fair value. The Company did not record any impairment charges related to its non-marketable equity investments for the years ended December 31, 2020, 2019 and 2018. |
Financial Instruments and Concentration of Credit Risk | Financial Instruments and Concentration of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, short-term investments and accounts receivable. Risks associated with cash and cash equivalents and short-term investments are mitigated by the Company's investment policy, which limits the |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment are stated at the Company's original cost or at fair value for property, plant and equipment acquired through acquisitions, net of depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets. Leasehold improvements and integral equipment at leased locations are amortized over the shorter of the lease term or the estimated useful life of the asset or improvement. The Company capitalizes certain internal and external costs associated with the development and purchase of internal-use software in property, plant and equipment, net on the consolidated balance sheets. This includes costs incurred in cloud computing arrangements ("CCA"), where it is both feasible and contractually permissible without significant penalty for the Company to take possession of the software. All other CCAs are considered service contracts, and the licensing and implementation costs incurred associated with such contracts are capitalized in other assets on the consolidated balance sheets. Capitalized internal-use software costs and capitalized implementation costs are amortized on a straight-line basis over the estimated useful lives of the software or arrangements. The Company's estimated useful lives of its property, plant and equipment are as follows: Core systems 3 - 40 years Buildings 12 - 58 years Leasehold improvements 12 - 40 years Personal Property, including capitalized internal-use software 3 - 10 years The Company's construction in progress includes direct and indirect expenditures for the construction and expansion of IBX data centers and is stated at original cost. The Company has contracted out substantially all of the construction and expansion efforts of its IBX data centers to independent contractors under construction contracts. Construction in progress includes costs incurred under construction contracts including project management services, engineering and schematic design services, design development, construction services and other construction-related fees and services. In addition, the Company has capitalized interest costs during the construction phase. Once an IBX data center or expansion project becomes operational, these capitalized costs are allocated to certain property, plant and equipment categories and are depreciated over the estimated useful life of the underlying assets. The Company reviews its property, plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or an asset group may not be recoverable such as a significant decrease in market price of an asset, a significant adverse change in the extent or manner in which an asset or an asset group is being used or in its physical condition, a significant adverse change in legal factors or business climate that could affect the value of an asset or an asset group or a continuous deterioration of the Company's financial condition. Recoverability of assets or asset groups to be held and used is assessed by comparing the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or the asset group. If the carrying amount of the asset or the asset group |
Assets Held for Sale | Assets Held for Sale Assets and liabilities to be disposed of that meet all of the criteria to be classified as held for sale are reported at the lower of their carrying amounts or fair values less costs to sell. The Company recorded an impairment charge of $7.3 million and $15.8 million relating to assets held for sale for the year ended December 31, 2020 and 2019, respectively. Assets are not depreciated or amortized while they are classified as held for sale. |
Asset Retirement Costs and Asset Retirement Obligations | Asset Retirement Costs and Asset Retirement ObligationsThe fair value of a liability for an asset retirement obligation is recognized in the period in which it is incurred. The associated retirement costs are capitalized and included as part of the carrying value of the long-lived asset and amortized over the useful life of the asset. Subsequent to the initial measurement, the Company accretes the liability in relation to the asset retirement obligations over time and the accretion expense is recorded as a cost of revenue. The Company's asset retirement obligations are primarily related to its IBX data centers, of which the majority are leased under long-term arrangements and are required to be returned to the landlords in their original condition. The majority of the Company's IBX data center leases have been subject to significant development by the Company in order to convert them from, in most cases, vacant buildings or warehouses into IBX data centers. |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets The Company has three reportable segments comprised of the 1) Americas, 2) EMEA and 3) Asia-Pacific geographic regions, which the Company also determined are its reporting units. Goodwill is not amortized and is tested for impairment at least annually or more often if and when circumstances indicate that goodwill is not recoverable. The Company assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Qualitative factors considered in the assessment include industry and market conditions, overall financial performance, and other relevant events and factors affecting the reporting unit. If, after assessing the qualitative factors, the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying value, then performing a quantitative impairment test is unnecessary. However, if the Company concludes otherwise, then it is required to perform a quantitative goodwill impairment test. The quantitative impairment test, which is used to identify both the existence of impairment and the amount of impairment loss, compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. If the carrying value of the reporting unit exceeds its fair value, any excess of the reporting unit goodwill carrying value over the respective implied fair value is recognized as an impairment loss. As of December 31, 2020, 2019 and 2018, the Company concluded that it was more likely than not that goodwill attributed to the Company's Americas, EMEA and Asia-Pacific reporting units was not impaired as the fair value of each reporting unit exceeded the carrying value of its respective reporting unit, including goodwill. Substantially all of the Company's intangible assets are subject to amortization and are amortized using the straight-line method over their estimated period of benefit. The Company performs a review of intangible assets for impairment by assessing events or changes in circumstances that indicate the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is assessed by comparing the carrying amount of an asset to estimated undiscounted future net cash flows expected to be generated by the asset. If the carrying amount |
Debt Issuance Costs | Debt Issuance Costs Costs and fees incurred upon debt issuances are capitalized and are amortized over the life of the related debt based on the effective interest method. Such amortization is included as a component of interest expense. Debt issuance costs related to outstanding debt are presented as a reduction of the carrying amount of the debt obligation and debt issuance costs related to the revolving credit facility are presented as other assets. For further information on debt facilities, see Note 11 below. |
Derivatives and Hedging Activities | Derivatives and Hedging Activities The Company uses derivative instruments, including foreign currency forwards and options and cross-currency interest rate swaps, to manage certain foreign currency exposures. Derivative instruments are viewed as risk management tools by the Company and are not used for speculative purposes. The Company recognizes all derivatives on the Company's consolidated balance sheets at fair value. The accounting for changes in the value of a derivative depends on whether the contract qualifies and has been designated for hedge accounting. In order to qualify for hedge accounting, a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged and there must be documentation of the risk management objective and strategy, including identification of the hedging instrument, the hedged item and the risk exposure, and the effectiveness assessment methodology. For cash flow hedges, the Company uses regression analysis at the time they are designated to assess their effectiveness. Hedge designations are reviewed on a quarterly basis to assess whether circumstances have changed that would disrupt the hedge instrument's relationship to the forecasted transactions or net investment. The Company uses the forward method to assess effectiveness of qualifying foreign currency forwards that are designated as cash flow hedges, whereby, the change in the fair value of the derivative is recorded in other comprehensive income (loss) and reclassified to the same line item in the consolidated statement of operations that is used to present the earnings effect of the hedged item when the hedged item affects earnings. The Company uses the spot method to assess effectiveness of qualifying foreign currency exchange options that are designated as cash flow hedges, whereby, the change in fair value due to foreign currency exchange spot rates is recorded in other comprehensive income (loss) and reclassified to the same line item in the consolidated statement of operations that is used to present the earnings effect of the hedged item when the hedged item affects earnings, and the change in fair value of the excluded component is recorded in other comprehensive income (loss) and amortized on a straight-line basis to the same line item in the consolidated statement of operations that is used to present the earnings effect of the hedged item. When two or more derivative instruments in combination are jointly designated as a cash flow hedging instrument, as with foreign currency exchange option collars, they are treated as a single instrument. If the hedge relationship is terminated for any derivatives designated as cash flow hedges, then the change in fair value of the derivative recorded in other comprehensive income (loss) is recognized in earnings when the previously hedged item affects earnings, consistent with the original hedge strategy. For hedge relationships that are discontinued because the forecasted transaction is not expected to occur according to the original strategy, then any related derivative amounts recorded in other comprehensive income (loss) are immediately recognized in earnings. From time to time, the Company uses derivative instruments, including treasury locks and swap locks (collectively, "interest rate locks") to manage certain interest rate exposures. An interest rate lock is a synthetic forward sale of a benchmark interest rate, which is settled in cash based upon the difference between an agreed upon rate at inception and the prevailing benchmark rate at settlement. It effectively fixes the benchmark rate component of an upcoming debt issuance. The interest rate lock transactions are designated as cash flow hedges, with all changes in value reported in other comprehensive income (loss). Subsequent to settlement, amounts in other comprehensive income are amortized to interest expense over the term of the forecasted hedged transaction which is equivalent to the term interest rate locks. The Company uses the spot method to assess effectiveness of cross-currency interest rate swaps that are designated as net investment hedges, whereby, the change in fair value due to foreign currency exchange spot rates is recorded in other comprehensive income (loss) and the change in fair value of the excluded component is recorded in other comprehensive income (loss) and amortized to interest expense on a straight-line basis. From time to time, the Company also uses foreign exchange forward contracts to hedge against the effect of foreign exchange rate fluctuations on a portion of its net investment in the foreign subsidiaries. The Company uses the spot method to assess effectiveness of qualifying foreign currency forwards that are designated as net investment hedges, whereby, the change in fair value due to foreign currency exchange spot rates is recorded in other comprehensive income (loss) and the change in fair value of the excluded component is recorded in other comprehensive income (loss) and amortized to interest expense on a straight-line basis. Derivative Assets and Liabilities . Inputs used for valuations of derivatives are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant inputs are observable in the market or can be corroborated by observable market data. The significant inputs used include spot currency rates and forward points, interest rate curves, and published credit default swap rates of its foreign exchange trading counterparties and other comparable companies. The Company has determined that the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, therefore the derivatives are categorized as Level 2. |
Fair Value of Financial Instruments and Fair Value Measurements | Fair Value of Financial Instruments The carrying value of the Company's cash and cash equivalents, short-term investments and derivative instruments represent their fair value, while the Company's accounts receivable, accounts payable and accrued expenses and accrued property, plant and equipment approximate their fair value due primarily to the short-term maturity of the related instruments. The fair value of the Company's debt, which is traded in the public debt market, is based on quoted market prices. The fair value of the Company's debt, which is not publicly traded, is estimated by considering the Company's credit rating, current rates available to the Company for debt of the same remaining maturities and terms of the debt. Fair Value Measurements The Company measures and reports certain financial assets and liabilities at fair value on a recurring basis, including its investments in money market funds, certificates of deposit, publicly traded equity securities and derivatives. The Company also follows the accounting standard for the measurement of fair value for non-financial assets and liabilities on a nonrecurring basis. These include: • Non-financial assets and non-financial liabilities initially measured at fair value in a business combination or other new basis event, but not measured at fair value in subsequent reporting periods; • Reporting units and non-financial assets and non-financial liabilities measured at fair value for goodwill impairment tests; • Indefinite-lived intangible assets measured at fair value for impairment assessments; • Non-financial long-lived assets or asset groups measured at fair value for impairment assessments or disposal; • Asset retirement obligations initially measured at fair value but not subsequently measured at fair value; and • Assets and liabilities classified as held for sale are measured at fair value less costs to sell and reported at the lower of the carrying amounts or the fair values less costs to sell. |
Leases | Leases The Company determines if an arrangement is or contains a lease at its inception. The Company enters into lease arrangements primarily for land, data center spaces, office spaces and equipment. The Company recognizes a right-of-use ("ROU") asset and lease liability on the consolidated balance sheet for all leases with a term longer than 12 months, including renewals options that the Company is reasonably certain to exercise. ROU assets represent the Company's right to use an underlying asset for the lease term. Lease liabilities represent the Company's obligation to make lease payments arising from the lease. ROU assets and liabilities are classified and recognized at the commencement date. When there is a lease modification, including a change in lease term, the Company reassess its classification and remeasures the ROU asset and lease liability. For the existing leases that were entered prior to January 1, 2019, the Company applied the package of practical expedients and elected not to reassess its existing leases and land easements, as well as the lease classifications and capitalized initial direct costs for those leases. ROU lease liabilities are measured based on the present value of fixed lease payments over the lease term. ROU assets consist of (i) initial measurement of the lease liability; (ii) lease payments made to the lessor at or before the commencement date less any lease incentives received; and (iii) initial direct costs incurred by the Company. Lease payments may vary because of changes in facts or circumstances occurring after the commencement, including changes in inflation indices. Variable lease payments that depend on an index or a rate (such as the Consumer Price Index or a market interest rate) are included in the measurement of ROU assets and lease liabilities using the index or rate at the commencement date. Subsequent changes to lease payments based on changes to the index and rate are accounted for as variable lease payments and recognized in the period they are incurred. Variable lease payments that do not depend on an index or a rate are excluded from the measurement of ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. Since most of the Company's leases do not provide an implicit rate, the Company uses its own incremental borrowing rate ("IBR") on a collateralized basis in determining the present value of lease payments. The Company utilizes a market-based approach to estimate the IBR. The approach requires significant judgment. Therefore, the Company utilizes different data sets to estimate IBRs via an analysis of (i) yields on comparable credit rating composite curves; (ii) sovereign rates; (iii) yields on our outstanding public debt; and (iv) indicative pricing on both secured and unsecured debt received from potential lenders. The Company also applies adjustments to account for considerations related to (i) tenor; and (ii) country credit rating that may not be fully incorporated by the aforementioned data sets. |
Revenue | Revenue Revenue Recognition Equinix derives more than 90% of its revenues from recurring revenue streams, consisting primarily of (1) colocation, which includes the licensing of cabinet space and power; (2) interconnection offerings, such as cross connects and Equinix Exchange ports; (3) managed infrastructure solutions and (4) other revenues consisting of rental income from tenants or subtenants. The remainder of the Company's revenues are from non-recurring revenue streams, such as installation revenues, professional services, contract settlements and equipment sales. Revenues by service lines and geographic areas are included in segment information. For further information on segment information, see Note 17 below. Under the revenue accounting guidance, revenues are recognized when control of these products and services is transferred to its customers, in an amount that reflects the consideration it expects to be entitled to in exchange for the products and services. Revenues from recurring revenue streams are generally billed monthly and recognized ratably over the term of the contract, generally 1 to 3 years for IBX data center colocation customers. Non-recurring installation fees, although generally paid upfront upon installation, are deferred and recognized ratably over the contract term. Professional service fees and equipment sales are recognized in the period when the services were provided. For the contracts with customers that contain multiple performance obligations, the Company accounts for individual performance obligations separately if they are distinct or as a series of distinct obligations if the individual performance obligations meet the series criteria. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. The transaction price is allocated to the separate performance obligation on a relative standalone selling price basis. The standalone selling price is determined based on overall pricing objectives, taking into consideration market conditions, geographic locations and other factors. Other judgments include determining if any variable consideration should be included in the total contract value of the arrangement such as price increases. Revenue is generally recognized on a gross basis as a principal versus on a net basis as an agent, as the Company is primarily responsible for fulfilling the contract, bears inventory risk and has discretion in establishing the price when selling to the customer. To the extent the Company does not meet the criteria for recognizing revenue on a gross basis, the Company records the revenue on a net basis. Revenue from contract settlements, when a customer wishes to terminate their contract early, is treated as a contract modification and recognized ratably over the remaining term of the contract, if any. On January 1, 2018, the Company adopted the current revenue accounting guidance ("Topic 606") using the modified retrospective approach applied to those contracts, which were not completed as of January 1, 2018, and recognized a net increase to the opening retained earnings of $269.8 million, net of tax impacts. The Company guarantees certain service levels, such as uptime, as outlined in individual customer contracts. If these service levels are not achieved due to any failure of the physical infrastructure or offerings, or in the event of certain instances of damage to customer infrastructure within the Company's IBX data centers, the Company would reduce revenue for any credits or cash payments given to the customer. Historically, these credits and cash payments have not been significant. The Company enters into revenue contracts with customers for data centers and office spaces, which contain both lease and non-lease components. The Company elected to adopt the practical expedient which allows lessors to combine lease and non-lease components, by underlying class of asset, and account for them as one component if they have the same timing and pattern of transfer. The combined component is accounted for in accordance with the current lease accounting guidance ("Topic 842") if the lease component is predominant, and in accordance with Topic 606 if the non-lease component is predominant. Lessors are permitted to adopt this practical expedient on a retrospective or prospective basis. The Company elected to apply the practical expedient prospectively based on classes of underlying assets. In general, customer contracts for data centers are accounted for under Topic 606 and customer contracts for the use of office space are accounted for under Topic 842, which are generally classified as operating leases and are recognized on a straight-line basis over the lease term. Certain customer agreements are denominated in currencies other than the functional currencies of the parties involved. Under applicable accounting rules, the Company is deemed to have foreign currency forward contracts embedded in these contracts. The Company assessed these embedded contracts and concluded them to be foreign currency embedded derivatives (see Note 8). These instruments are separated from their host contracts and held on the Company's consolidated balance sheet at their fair value. The majority of these foreign currency embedded derivatives arise in certain of the Company's subsidiaries where the local currency is the subsidiary's functional currency and the customer contract is denominated in the U.S. dollar. Changes in their fair values are recognized within revenues in the Company's consolidated statements of operations. Contract Balances The timing of revenue recognition, billings and cash collections result in accounts receivables, contract assets and deferred revenues. A receivable is recorded at the invoice amount, net of an allowance for credit losses and is recognized in the period when the Company has transferred products or provided services to its customers and when its right to consideration is unconditional. Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 45 days. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined that the Company's contracts generally do not include a significant financing component. The Company assesses collectability based on a number of factors, including past transaction history with the customer and the credit-worthiness of the customer. The Company generally does not request collateral from its customers although in certain cases the Company obtains a security interest in a customer's equipment placed in its IBX data centers or obtains a deposit. The Company also maintains an allowance for estimated losses on a lifetime loss basis resulting from the inability of its customers to make required payments for which the Company had expected to collect the revenues in accordance with the new credit loss guidance accounting guidance ("Topic 326"). the financial condition of the Company's customers were to deteriorate or if they became insolvent, resulting in an impairment of their ability to make payments, greater allowances for credit losses may be required. Management specifically analyzes accounts receivable and current economic news, conditions and trends, historical loss rates, customer concentrations, customer credit-worthiness, changes in customer payment terms and any applicable long term forecast when evaluating revenue recognition and the adequacy of the Company's reserves. Any amounts that were previously recognized as revenue and subsequently determined to be uncollectable are charged to bad debt expense included in sales and marketing expense in the consolidated statements of operations. A specific bad debt reserve of up to the full amount of a particular invoice value is provided for certain problematic customer balances. An additional reserve is established for all other accounts based an analysis of historical credits issued. Delinquent account balances are written off after management has determined that the likelihood of collection is not probable. A contract asset exists when the Company has transferred products or provided services to its customers, but customer payment is contingent upon satisfaction of additional performance obligations. Certain contracts include terms related to price arrangements such as price increases and free months. The Company recognizes revenues ratably over the contract term, which could potentially give rise to contract assets during certain periods of the contract term. Contract assets are recorded in other current assets and other assets in the consolidated balance sheet. Deferred revenue (a contract liability) is recognized when the Company has an unconditional right to a payment before it transfers products or services to customers. Deferred revenue is included in other current liabilities and other liabilities, respectively, in the consolidated balance sheet. Contract Costs Direct and indirect incremental costs solely related to obtaining revenue contracts are capitalized as costs of obtaining a contract, when they are incremental and if they are expected to be recovered. Such costs consist primarily of commission fees and sales bonuses, as well as indirect related payroll costs. In 2020, contract costs are amortized over the estimated period of five years on a straight-line basis. The Company elected to apply the practical expedient which allows the Company to expense contract costs when incurred, if the amortization period is one year or less. |
Income Taxes | Income Taxes Income taxes are accounted for under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and tax attributes such as operating loss, capital loss and tax credits carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts that are expected more likely than not to be realized in the future. A tax benefit from an uncertain income tax position may be recognized in the financial statements only if it is more likely than not that the position is sustainable, based solely on its technical merits and consideration of the relevant taxing authority's widely understood administrative practices and precedents. Recognized income tax positions are measured at the largest amount that has a greater than 50 percent likelihood of being realized. Any subsequent changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company elected to be taxed as a REIT for U.S. federal income tax purposes beginning with its 2015 taxable year. As a result, the Company may deduct the dividends made to its stockholders from taxable income generated by the Company and its qualified REIT subsidiaries ("QRSs"). The Company's dividends paid deduction generally eliminates the U.S. federal taxable income of the Company and its QRSs, resulting in no U.S. federal income tax due. However, the Company's domestic taxable REIT subsidiaries ("TRSs") are subject to the U.S. corporate income taxes on any taxable income generated by them. In addition, the foreign operations of the Company are subject to local income taxes regardless of whether the foreign operations are operated as QRSs or TRSs. The Company's qualification and taxation as a REIT depends on its satisfaction of certain asset, income, organizational, distribution, stockholder ownership and other requirements on a continuing basis. The Company's ability to satisfy quarterly asset tests depends upon its analysis and the fair market values of its REIT and non-REIT |
Stock-Based Compensation | Stock-Based Compensation Stock-based compensation cost is measured at the grant date for all stock-based awards made to employees and directors based on the fair value of the award. The Company generally recognizes stock-based compensation expense on a straight-line basis over the requisite service period of the awards, which is generally the vesting period. However, for awards with market conditions or performance conditions, stock-based compensation expense is recognized on a straight-line basis over the requisite service period for each vesting tranche of the award. The Company elected to estimate forfeitures based on historical forfeiture rates. The Company grants restricted stock units ("RSUs") or restricted stock awards ("RSAs") to its employees and these equity awards generally have only a service condition. The Company grants RSUs to its executives and these awards generally have a service and performance condition or a service and market condition. Performance conditions contained in an equity award are generally tied to the financial performance of the Company or a specific region of the Company. The Company assesses the probability of meeting these performance conditions on a quarterly basis. The majority of the Company's RSUs vest over four years, although certain of the equity awards for executives vest over a range of two The Company uses the Black-Scholes option-pricing model to determine the fair value of its employee stock purchase plan ("ESPP"). The determination of the fair value of shares purchased under the ESPP is affected by assumptions regarding a number of complex and subjective variables including the Company's expected stock price volatility over the term of the awards and actual and projected employee stock purchase behaviors. The Company estimated the expected volatility by using the average historical volatility of its common stock that it believed was best representative of future volatility. The risk-free interest rate used was based on U.S. Treasury zero-coupon issues with remaining terms similar to the expected term of the equity awards. The expected dividend rate used was based on average dividend yields and the expected term used was equal to the term of each purchase window. |
Foreign Currency Translation | Foreign Currency Translation The financial position of foreign subsidiaries is translated using the exchange rates in effect at the end of the period, while income and expense items are translated at average rates of exchange during the period. Gains or losses from translation of foreign operations where the local currency is the functional currency are included as other comprehensive income (loss). The net gains and losses resulting from foreign currency transactions are recorded in net income in the period incurred and recorded within other income (expense). Certain inter-company balances are designated as loans of a long-term investment-type nature. Accordingly, exchange gains and losses associated with these long-term inter-company balances are recorded as a component of other comprehensive income (loss), along with translation adjustments. |
Earnings Per Share | Earnings Per Share The Company computes basic and diluted EPS for net income. Basic EPS is computed using net income and |
Treasury Stock | Treasury Stock The Company accounts for treasury stock under the cost method. When treasury stock is re-issued at a higher price than its cost, the difference is recorded as a component of additional paid-in capital to the extent that there are gains to offset the losses. If there are no treasury stock gains in additional paid-in capital, the losses are recorded as a component of retained earnings. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Accounting Standards Not Yet Adopted In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-06: Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). The ASU simplifies the accounting for convertible instruments by reducing the number of accounting models for convertible debt instruments and convertible preferred stock and modifies the disclosure requirement for the convertible instruments. Additionally, this ASU improves the consistency of EPS calculations by eliminating the use of the treasury stock method to calculate diluted EPS for convertible instruments and clarifies certain areas under the current EPS guidance. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021, with early adoption permitted at the beginning of the fiscal year after December 15, 2020. The Company is currently evaluating the extent of the impact of this ASU, but does not expect the adoption of this standard to have significant impact on its consolidated financial statements. In December 2019, FASB issued ASU 2019-12, Income Taxes ("Topic 740"): Simplifying the Accounting for Income T axes. The ASU simplifies accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The ASU also improves consistent application of and simplifies generally accepted accounting principles ("GAAP") for other areas of Topic 740 by clarifying and amending existing guidance. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted including adoption in any interim period for periods for which financial statements have not yet been issued. On January 1, 2021, the Company adopted this ASU and the adoption of this standard will not have any significant impact on the Company's consolidated financial statements. Accounting Standards Recently Adopted Derivatives and Hedging In August 2017, FASB issued ASU 2017-12 Derivatives and Hedging ("Topic 815"): Targeted Improvements to Accounting for Hedging Activities. This ASU was issued to improve the financial reporting of hedging relationships to better portray the economic results of an entity's risk management activities in its financial statements and to simplify the application of the hedge accounting guidance in current GAAP. This ASU permits hedge accounting for risk components involving nonfinancial risk and interest rate risk, requires an entity to present the earnings effect of the hedging instrument in the same income statement line item in which the hedged item is reported, no longer requires separate measurement and reporting of hedge ineffectiveness, eases the requirement for hedge effectiveness assessment, and requires a tabular disclosure related to the effect on the income statement of fair value and cash flow hedges. The Company adopted ASU 2017-12 on January 1, 2019 using the modified retrospective approach. For cash flow hedges existing on the date of adoption, the Company recognized the cumulative effect of the change on the opening balance of accumulated other comprehensive income (loss) with a corresponding adjustment to the opening balance of retained earnings for amounts previously recognized in earnings related to ineffectiveness. The adoption of this standard did not have any significant impact on the Company's consolidated financial statements. Leases In February 2016, FASB issued ASU 2016-02, Leases and issued subsequent amendments to the initial guidance, collectively referred to as "Topic 842." Topic 842 replaces the guidance in former ASC Topic 840, Leases. The new lease guidance increases transparency and comparability among organizations by requiring the recognition of the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee's future obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use ("ROU") asset, which is an asset that represents the lessee's right to use, or control the use of, a specified asset for the lease term. On January 1, 2019, the Company adopted Topic 842 using the alternative transition method. Therefore, results for reporting periods beginning after January 1, 2019 are presented under Topic 842, while comparative information has not been restated and continues to be reported under accounting standards in effect for those periods. The Company recognized the cumulative effects of initially applying the standard as an adjustment to the opening balance of retained earnings in the period of adoption. In adopting the new guidance, the Company elected to apply the package of practical expedients permitted under the transition guidance which allows the Company not to reassess (1) whether any expired or existing contracts contain leases under the new definition of a lease; (2) lease classification for any expired or existing leases; and (3) whether previously capitalized initial direct costs would qualify for capitalization under Topic 842. The Company also elected to apply the land easements practical expedient which permits the Company not to assess at transition whether any expired or existing land easements are, or contain, leases if they were not previously accounted for as leases under Topic 840. Adoption of the standard had a significant impact on the Company's financial results, including the (1) recognition of new ROU assets and liabilities on its balance sheet for all operating leases; and (2) de-recognition of existing build-to-suit assets and liabilities with cumulative effects of initially applying the standard as an adjustment to the retained earnings. The cumulative effect of the changes made to its consolidated January 1, 2019 balance sheet from the adoption of Topic 842 was as follows (in thousands): Balance Sheet Balances at December 31, 2018 Adjustments due to adoption of Topic 842 Balances at January 1, 2019 Assets Other current assets $ 274,857 $ (15,949) $ 258,908 Property, plant and equipment, net 11,026,020 (293,111) 10,732,909 Operating lease right-of-use assets — 1,468,762 1,468,762 Intangible assets, net 2,333,296 (23,205) 2,310,091 Other assets 533,252 (63,468) 469,784 Liabilities Current portion of operating lease liabilities — 144,405 144,405 Current portion of finance lease liabilities — 70,795 70,795 Current portion of capital lease and other financing obligations 77,844 (77,844) — Other current liabilities 126,995 (6,455) 120,540 Operating lease liabilities, less current portion — 1,312,262 1,312,262 Finance lease liabilities, less current portion — 1,165,188 1,165,188 Capital lease and other financing obligations, less current portion 1,441,077 (1,441,077) — Other liabilities 629,763 (88,272) 541,491 Equity Retained Earnings 889,948 (5,973) 883,975 Financial Instruments - Credit Losses In June 2016, FASB issued ASU 2016-13, Financial Instruments - Credit Losses ("Topic 326"): Measurement of Credit Losses on Financial Instruments. The ASU requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The ASU requires enhanced qualitative and quantitative disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization's portfolio. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. The Company adopted this new ASU on January 1, 2020 using the modified retrospective approach and recorded a net decrease to retained earnings of $0.9 million and a corresponding increase to allowance for credit losses. The adoption did not have any significant impact on other financial assets within the scope of Topic 326, such as contract assets. Reference Rate Reform In March 2020, FASB issued ASU 2020-04, Reference Rate Reform ("Topic 848"): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The ASU provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The ASU is effective for all entities as of March 12, 2020 through December 31, 2022. The Company adopted the ASU upon its issuance and there was no impact on the Company's consolidated financial statements for the year ended December 31, 2020 as a result of adopting this standard. The Company will evaluate its debt, derivative and lease contracts that are eligible for modification relief and may apply the elections prospectively as needed. |
Fair Value Valuation Methods | Fair value estimates are made as of a specific point in time based on methods using the market approach valuation method which uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities or other valuation techniques. These techniques involve uncertainties and are affected by the assumptions used and the judgments made regarding risk characteristics of various financial instruments, discount rates, estimates of future cash flows, future expected loss experience and other factors. |
Segment Information | While the Company has one primary line of business, which is the design, build-out and operation of IBX data centers, it has determined that it has three reportable segments comprised of its Americas, EMEA and Asia-Pacific geographic regions. The Company's chief operating decision-maker evaluates performance, makes operating decisions and allocates resources based on the Company's revenues and adjusted EBITDA performance both on a consolidated basis and based on these three reportable segments. |
Nature of Business and Summar_3
Nature of Business and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Schedule of Revenue by Geographical Region | The following table sets forth percentages of the Company's revenues by geographic region for the years ended December 31: 2020 2019 2018 Americas 45 % 47 % 49 % EMEA 33 % 32 % 31 % Asia-Pacific 22 % 21 % 20 % |
Property, Plant and Equipment, Net | The Company's estimated useful lives of its property, plant and equipment are as follows: Core systems 3 - 40 years Buildings 12 - 58 years Leasehold improvements 12 - 40 years Personal Property, including capitalized internal-use software 3 - 10 years Property, plant and equipment, net consisted of the following as of December 31 (in thousands): 2020 2019 Core systems $ 9,659,908 $ 8,131,835 Buildings 6,557,121 5,398,525 Leasehold improvements 1,946,644 1,764,058 Construction in progress 1,363,917 1,002,104 Personal property (1) 1,207,669 1,009,701 Land 944,094 781,024 21,679,353 18,087,247 Less accumulated depreciation (7,176,269) (5,934,650) Property, plant and equipment, net $ 14,503,084 $ 12,152,597 |
Schedule of Topic 842 Adoption | The cumulative effect of the changes made to its consolidated January 1, 2019 balance sheet from the adoption of Topic 842 was as follows (in thousands): Balance Sheet Balances at December 31, 2018 Adjustments due to adoption of Topic 842 Balances at January 1, 2019 Assets Other current assets $ 274,857 $ (15,949) $ 258,908 Property, plant and equipment, net 11,026,020 (293,111) 10,732,909 Operating lease right-of-use assets — 1,468,762 1,468,762 Intangible assets, net 2,333,296 (23,205) 2,310,091 Other assets 533,252 (63,468) 469,784 Liabilities Current portion of operating lease liabilities — 144,405 144,405 Current portion of finance lease liabilities — 70,795 70,795 Current portion of capital lease and other financing obligations 77,844 (77,844) — Other current liabilities 126,995 (6,455) 120,540 Operating lease liabilities, less current portion — 1,312,262 1,312,262 Finance lease liabilities, less current portion — 1,165,188 1,165,188 Capital lease and other financing obligations, less current portion 1,441,077 (1,441,077) — Other liabilities 629,763 (88,272) 541,491 Equity Retained Earnings 889,948 (5,973) 883,975 |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Contract Balances, Opening and Closing Balances | The following table summarizes the opening and closing balances of the Company's accounts receivable, net; contract assets, current; contract assets, non-current; deferred revenue, current; and deferred revenue, non-current (in thousands): Accounts receivable, net Contract assets, current Contract assets, non-current Deferred revenue, current Deferred revenue, non-current Beginning balances as of January 1, 2020 $ 689,134 $ 10,033 $ 31,521 $ 76,193 $ 46,555 Closing balances as of December 31, 2020 676,738 13,534 54,050 101,258 71,242 Increase/(decrease) $ (12,396) $ 3,501 $ 22,529 $ 25,065 $ 24,687 Beginning balances as of January 1, 2019 $ 630,119 $ 9,778 $ 16,396 $ 73,143 $ 46,641 Closing balances as of December 31, 2019 689,134 10,033 31,521 76,193 46,555 Increase/(decrease) $ 59,015 $ 255 $ 15,125 $ 3,050 $ (86) |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Business Combinations [Abstract] | |
Preliminary Purchase Price Allocation | A summary of the final allocation of total purchase consideration is presented as follows (in thousands): Bell Packet (1) Axtel (2) Provisional Final Cash and cash equivalents $ — $ 1,068 $ — Accounts receivable — 5,098 — Other current assets 803 299 14,048 Property, plant and equipment 538,717 27,945 76,407 Operating lease right-of-use assets 14,359 1,519 1,646 Intangible assets 75,631 58,500 22,750 Goodwill 170,548 230,620 78,902 Deferred tax and other assets 722 138 — Total assets acquired 800,780 325,187 193,753 Accounts payable and accrued liabilities (895) (1,275) (238) Other current liabilities — (860) — Operating lease liabilities (13,340) (1,519) (1,586) Finance lease liabilities (80,026) (27,945) — Deferred tax and other liabilities (4,495) (3,290) (2,911) Net assets acquired $ 702,024 $ 290,298 $ 189,018 (1) For the Packet Acquisition, the adjustments made from the provisional amounts reported as of March 31, 2020 primarily resulted in a decrease in intangible assets of $10.1 million and an increase in goodwill of $7.5 million. The changes in fair value of acquired assets and liabilities assumed did not have a significant impact on the Company's results of operations for any reporting periods prior to December 31, 2020. (2) For the Axtel Acquisition, there were no purchase price allocation adjustments since the provisional amounts reported as of March 31, 2020. |
Acquired Identifiable Intangible Assets | The following table presents certain information on the acquired intangible assets (in thousands): Intangible Assets Fair Value Estimated Useful Lives (Years) Weighted-average Estimated Useful Lives (Years) Bell: Customer relationships $ 75,631 15.0 15.0 Packet: Trade names 1,300 3.0 3.0 Existing technology 5,100 3.0 3.0 Customer relationships 52,100 10.0 10.0 Axtel: Customer relationships 22,750 15.0 15.0 The fair values of customer relationships acquired from these acquisitions were estimated from applying an income approach, by calculating the present value of estimated future operating cash flows generated from existing customers less costs to realize the revenue. The Company applied a discount rate of 8.0% for Bell, 8.0% for Packet and 13.3% for Axtel, which reflects the nature of the assets as they relate to the risk and uncertainty of the estimated future operating cash flows, as well as the risk of the country within which the acquired business operates. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Share | The following table sets forth the computation of basic and diluted EPS for the years ended December 31 (in thousands, except per share amounts): 2020 2019 2018 Net income $ 370,074 $ 507,245 $ 365,359 Net (income) loss attributable to non-controlling interests (297) 205 — Net income attributable to Equinix $ 369,777 $ 507,450 $ 365,359 Weighted-average shares used to calculate basic EPS 87,700 84,140 79,779 Effect of dilutive securities: Employee equity awards 710 539 418 Weighted-average shares used to calculate diluted EPS 88,410 84,679 80,197 EPS attributable to Equinix: Basic EPS $ 4.22 $ 6.03 $ 4.58 Diluted EPS $ 4.18 $ 5.99 $ 4.56 |
Anti-dilutive Potential Shares of Common Stock Excluded from Computation of Earnings Per Share | The following table sets forth potential shares of common stock that are not included in the diluted EPS calculation above because to do so would be anti-dilutive for the years ended December 31 (in thousands): 2020 2019 2018 Common stock related to employee equity awards 19 21 265 Total 19 21 265 |
Investments, Equity Method and
Investments, Equity Method and Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments | The following table summarizes the equity method investments as of December 31 (in thousands): Investee Ownership Percentage 2020 2019 EMEA Joint Venture with GIC 20 % $ 101,892 $ 51,092 Asia-Pacific Joint Venture with GIC 20 % 43,432 — Other Various 17,747 8,645 Total $ 163,071 $ 59,737 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Cash, Cash Equivalents and Short-Term and Long-Term Investments | Cash, cash equivalents and short-term investments consisted of the following as of December 31 (in thousands): 2020 2019 Cash and cash equivalents: Cash $ 993,798 $ 983,030 Cash equivalents: Money market funds 611,071 886,547 Total cash and cash equivalents 1,604,869 1,869,577 Short-term investments: Certificates of deposit 4,373 7,583 Publicly traded equity securities 159 2,779 Total short-term investments 4,532 10,362 Total cash, cash equivalents and short-term investments $ 1,609,401 $ 1,879,939 |
Accounts Receivable, Net | Accounts receivable, net, consisted of the following as of December 31 (in thousands): 2020 2019 Accounts receivable $ 687,415 $ 702,160 Allowance for credit losses (10,677) (13,026) Accounts receivable, net $ 676,738 $ 689,134 |
Activities of Allowance for Doubtful Accounts | The following table summarizes the activity of the Company's allowance for credit losses (in thousands): Balance as of December 31, 2017 $ 18,228 Provision for doubtful accounts 7,236 Net write-offs (8,396) Impact of foreign currency exchange (1,118) Balance as of December 31, 2018 15,950 Provision for doubtful accounts 8,459 Net write-offs (11,341) Impact of foreign currency exchange (42) Balance as of December 31, 2019 13,026 Adjustments due to adoption of ASU 2016-13 900 Provision for credit losses 5,069 Net write-offs (10,050) Impact of foreign currency exchange 1,732 Balance as of December 31, 2020 $ 10,677 |
Other Current Assets | Other current assets consisted of the following as of December 31 (in thousands): 2020 2019 Prepaid expenses $ 61,424 $ 55,954 Taxes receivable 125,614 122,823 Restricted cash, current 11,135 7,090 Other receivables 44,333 36,350 Derivative instruments 8,906 25,426 Contract assets, current 13,534 10,033 Other current assets (1) 58,070 45,867 Total other current assets $ 323,016 $ 303,543 (1) Other current assets included $44.2 million and $34.3 million of the current portion of the fair value of the contingent consideration from the sale of xScale ™ |
Property, Plant and Equipment, Net | The Company's estimated useful lives of its property, plant and equipment are as follows: Core systems 3 - 40 years Buildings 12 - 58 years Leasehold improvements 12 - 40 years Personal Property, including capitalized internal-use software 3 - 10 years Property, plant and equipment, net consisted of the following as of December 31 (in thousands): 2020 2019 Core systems $ 9,659,908 $ 8,131,835 Buildings 6,557,121 5,398,525 Leasehold improvements 1,946,644 1,764,058 Construction in progress 1,363,917 1,002,104 Personal property (1) 1,207,669 1,009,701 Land 944,094 781,024 21,679,353 18,087,247 Less accumulated depreciation (7,176,269) (5,934,650) Property, plant and equipment, net $ 14,503,084 $ 12,152,597 |
Goodwill and Other Intangible Assets | The following table presents goodwill and other intangible assets, net, for the years ended December 31, 2020 and 2019 (in thousands): 2020 2019 Goodwill: Americas $ 2,212,782 $ 1,741,689 EMEA 2,611,166 2,426,306 Asia-Pacific 648,605 613,863 $ 5,472,553 $ 4,781,858 Intangible assets, net: Intangible assets - customer relationships $ 2,891,060 $ 2,712,701 Intangible assets - trade names 11,512 46,601 Intangible assets - in-place leases 33,770 33,295 Intangible assets - licenses 9,697 9,697 Intangible assets - at-the-money lease contracts (1) 64,905 — Intangible assets - other 12,802 6,402 3,023,746 2,808,696 Accumulated amortization - customer relationships (818,370) (646,632) Accumulated amortization - trade names (2,337) (37,885) Accumulated amortization - in-place leases (20,037) (14,329) Accumulated amortization - licenses (6,600) (4,529) Accumulated amortization - other (5,457) (2,932) (852,801) (706,307) Total intangible assets, net $ 2,170,945 $ 2,102,389 (1) In December 2020, the Company acquired an at-the-money lease contract intangible asset through an asset acquisition in Amsterdam. This intangible asset represents premiums paid to acquire a land lease at market terms. The lease has a remaining lease term of 12 years with available renewal options in 50-year increments. The intangible asset has an estimated amortization period of 12 years. The total purchase consideration for this asset acquisition was $49.4 million and the |
Carrying Amount of Goodwill by Geographic Regions | Changes in the carrying amount of goodwill by geographic regions are as follows (in thousands): Americas EMEA Asia-Pacific Total Balance as of December 31, 2018 $ 1,745,804 $ 2,474,164 $ 616,420 $ 4,836,388 Purchase accounting - acquisition — 25,863 (3,683) 22,180 Sale of xScale data center facilities — (59,246) — (59,246) Sale of NY12 data center (950) — — (950) Impact of foreign currency exchange (3,165) (14,475) 1,126 (16,514) Balance as of December 31, 2019 1,741,689 2,426,306 613,863 4,781,858 Purchase of Packet 230,620 — — 230,620 Purchase of Bell 170,548 — — 170,548 Purchase of Axtel 78,902 — — 78,902 Sale of xScale data center facilities — — (7,306) (7,306) Impact of foreign currency exchange (8,977) 184,860 42,048 217,931 Balance as of December 31, 2020 $ 2,212,782 $ 2,611,166 $ 648,605 $ 5,472,553 |
Net Book Value of Intangible Assets by Geographic Regions | Changes in the net book value of intangible assets by geographic regions are as follows (in thousands): Americas EMEA Asia-Pacific Total Balance as of December 31, 2017 $ 1,646,373 $ 631,219 $ 107,380 $ 2,384,972 Infomart Dallas acquisition 65,847 — — 65,847 Metronode acquisition — — 128,229 128,229 Other acquisitions — 8,342 — 8,342 Write-off of intangible asset (334) (1,661) (3) (1,998) Amortization of intangibles (125,683) (62,283) (15,450) (203,416) Impact of foreign currency exchange (7,232) (31,757) (9,691) (48,680) Balance as of December 31, 2018 1,578,971 543,860 210,465 2,333,296 ASC 842 adoption adjustment (108) (20,692) (2,405) (23,205) Switch AMS1 data center acquisition — 4,889 — 4,889 Asset sales - NY12 data center (8,412) — — (8,412) Other — 1,096 472 1,568 Amortization of intangibles (125,390) (54,432) (16,456) (196,278) Impact of foreign currency exchange (1,769) (8,157) 457 (9,469) Balance as of December 31, 2019 1,443,292 466,564 192,533 2,102,389 Axtel acquisition 22,750 — — 22,750 Packet acquisition 58,500 — — 58,500 Bell acquisition 75,631 — — 75,631 Other asset acquisition (1) — 64,905 — 64,905 Amortization of intangibles (133,608) (49,417) (16,022) (199,047) Impact of foreign currency exchange (3,476) 35,975 13,318 45,817 Balance as of December 31, 2020 $ 1,463,089 $ 518,027 $ 189,829 $ 2,170,945 (1) For further discussion, refer to footnote 1 of the table on the previous page. |
Estimated Future Amortization Expense Related to Intangibles | Estimated future amortization expense related to these intangibles is as follows (in thousands): Years ending: 2021 $ 206,244 2022 201,455 2023 199,698 2024 198,323 2025 195,742 Thereafter 1,169,483 Total $ 2,170,945 |
Other Assets | Other assets consisted of the following as of December 31 (in thousands): 2020 2019 Deferred tax assets, net $ 66,424 $ 35,806 Prepaid expenses (1) 82,443 61,690 Debt issuance costs, net 4,261 6,395 Deposits 69,043 56,567 Restricted cash 9,691 9,946 Derivative instruments 2,793 32,280 Contract assets, non-current 54,050 31,521 Contract costs 267,978 229,205 Equity method investments 163,071 59,737 Other assets (2) 56,293 57,641 Total other assets $ 776,047 $ 580,788 (1) As of December 31, 2020, the Company had $21.1 million of capitalized CCA implementation costs, net. (2) In connection with the Metronode Acquisition in 2018, the Company had indemnification assets of $42.8 million and $37.7 million, as of December 31, 2020 and 2019, respectively, which represented the seller's obligation under the purchase agreement to reimburse pre-acquisition tax liabilities settled after the acquisition. |
Accounts Payable and Accrued Expenses | Accounts payable and accrued expenses consisted of the following as of December 31 (in thousands): 2020 2019 Accounts payable $ 77,705 $ 52,232 Accrued compensation and benefits 317,117 241,361 Accrued interest 79,437 103,345 Accrued taxes (1) 153,804 135,099 Accrued utilities and security 76,910 107,404 Accrued other 139,889 121,277 Total accounts payable and accrued expenses $ 844,862 $ 760,718 (1) Accrued taxes included income taxes payable of $59.8 million and $57.7 million as of December 31, 2020 and 2019, respectively. |
Other Current Liabilities | Other current liabilities consisted of the following as of December 31 (in thousands): 2020 2019 Deferred revenue, current $ 101,258 $ 76,193 Customer deposits 17,115 16,707 Derivative instruments 188,726 31,596 Dividends payable, current 10,873 9,029 Asset retirement obligations 3,993 2,081 Other current liabilities 32,403 18,332 Total other current liabilities $ 354,368 $ 153,938 |
Other Liabilities | Other liabilities consisted of the following as of December 31 (in thousands): 2020 2019 Asset retirement obligations $ 109,776 $ 100,334 Deferred tax liabilities, net 290,366 247,179 Deferred revenue, non-current 71,242 46,555 Accrued taxes 178,371 146,046 Dividends payable, non-current 7,947 7,108 Customer deposits 1,088 9,306 Derivative instruments 211,733 4,017 Other liabilities (1) 78,476 61,180 Total other liabilities $ 948,999 $ 621,725 |
Summary of Asset Retirement Obligation Liability | The following table summarizes the activities of the Company's asset retirement obligation ("ARO") (in thousands): Asset retirement obligations as of December 31, 2017 $ 98,539 Additions 5,126 Adjustments (1) (11,288) Accretion expense 6,285 Impact of foreign currency exchange (1,999) Asset retirement obligations as of December 31, 2018 96,663 Additions 6,980 Adjustments (1) (7,969) Accretion expense 6,290 Impact of foreign currency exchange 451 Asset retirement obligations as of December 31, 2019 102,415 Additions 5,909 Adjustments (1) (4,241) Accretion expense 6,331 Impact of foreign currency exchange 3,355 Asset retirement obligations as of December 31, 2020 $ 113,769 (1) The ARO adjustments are primarily due to lease amendments and acquisition of real estate assets, as well as other adjustments. |
Derivatives and Hedging Instr_2
Derivatives and Hedging Instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Net Investment Hedges | The effect of net investment hedges on accumulated other comprehensive income and the consolidated statements of operations for the years ended December 31, 2020, 2019 and 2018 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Years Ended December 31, 2020 2019 2018 Foreign currency debt $ (208,281) $ 47,033 $ 218,269 Cross-currency interest rate swaps (included component) (1) (218,843) 15,514 — Cross-currency interest rate swaps (excluded component) (2) (347) 10,737 — Foreign currency forward contracts (included component) (1) (17,115) — — Foreign currency forward contracts (excluded component) (3) 32 — — Total $ (444,554) $ 73,284 $ 218,269 Amount of gain or (loss) recognized in earnings: Location of gain or (loss) Years Ended December 31, 2020 2019 2018 Cross-currency interest rate swaps (excluded component) (2) Interest expense $ 27,196 $ 19,261 $ — Foreign currency forward contracts (excluded component) (3) Interest expense 42 — — Total $ 27,238 $ 19,261 $ — (1) Included component represents foreign exchange spot rates. (2) Excluded component represents cross-currency basis spread and interest rates. (3) Excluded component represents foreign currency forward points. |
Summary of Cash Flow Hedge Instruments | The effect of cash flow hedges on accumulated other comprehensive income and the consolidated statements of operations for the years ended December 31, 2020, 2019 and 2018 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Years Ended December 31, 2020 2019 2018 Foreign currency forward and option contracts (included component) (1) $ (68,573) $ (9,945) $ 58,227 Foreign currency option contracts (excluded component) (2) 1,655 (1,807) — Interest rate locks (30,393) 4,972 — Total $ (97,311) $ (6,780) $ 58,227 Amount of gain or (loss) reclassified from accumulated other comprehensive income to income: Years Ended December 31, Location of gain or (loss) 2020 2019 2018 Foreign currency forward contracts Revenues $ 37,198 $ 80,046 $ (30,603) Foreign currency forward contracts Costs and operating expenses (19,890) (41,262) 15,341 Interest rate locks Interest Expense (1,204) 79 — Total $ 16,104 $ 38,863 $ (15,262) Amount of gain or (loss) excluded from effectiveness testing and included in income: Years Ended December 31, Location of gain or (loss) 2020 2019 2018 Foreign currency forward contracts Other income (expense) $ — $ 88 $ 16,470 Foreign currency option contracts (excluded component) (2) Revenues (1,761) (1,082) — Total $ (1,761) $ (994) $ 16,470 (1) Included component represents foreign exchange spot rates. (2) Excluded component represents option's time value. |
Schedule of Derivatives Not Designated as Hedging Instruments in the Company's Condensed Consolidated Statements of Operations | The following table presents the effect of derivatives not designated as hedging instruments in the Company's consolidated statements of operations (in thousands): Amount of gain or (loss) recognized in earnings: Years Ended December 31, Location of gain or (loss) 2020 2019 2018 Embedded derivatives Revenues $ (3,043) $ 63 $ 618 Economic hedge of embedded derivatives Revenues 2,142 550 (877) Foreign currency forward contracts Other income (expense) (127,648) 36,846 91,233 Total $ (128,549) $ 37,459 $ 90,974 |
Schedule of Derivative Instruments Recognized in the Company's Condensed Consolidated Balance Sheets | The following table presents the fair value of derivative instruments recognized in the Company's consolidated balance sheets as of December 31, 2020 and 2019 (in thousands): December 31, 2020 December 31, 2019 Assets (1) Liabilities (2) Assets (1) Liabilities (2) Designated as hedging instruments: Cash flow hedges Foreign currency forward and option contracts $ 351 $ 52,804 $ 24,853 $ 5,898 Net investment hedges Cross-currency interest rate swaps — 192,939 26,251 — Foreign currency forward contracts — 17,041 — — Total designated as hedging 351 262,784 51,104 5,898 Not designated as hedging instruments: Embedded derivatives 3,255 3,858 4,595 2,268 Economic hedges of embedded derivatives 4,372 12 1,367 — Foreign currency forward contracts 3,721 133,805 641 27,446 Total not designated as hedging 11,348 137,675 6,603 29,714 Total Derivatives $ 11,699 $ 400,459 $ 57,707 $ 35,612 (1) As presented in the Company's consolidated balance sheets within other current assets and other assets. (2) As presented in the Company's consolidated balance sheets within other current liabilities and other liabilities. |
Schedule of Offsetting Derivative Assets and Liabilities | The following table presents information related to these offsetting arrangements as of December 31, 2020 and 2019 (in thousands): Gross Amounts Offset in Gross Amounts Gross Amounts Offset in the Balance Sheet Net Amounts Gross Amounts not Offset in the Balance Sheet Net December 31, 2020 Derivative assets $ 38,447 $ — $ 38,447 $ (35,100) $ 3,347 Derivative liabilities 415,628 — 415,628 (35,100) 380,528 December 31, 2019 Derivative assets $ 76,640 $ — $ 76,640 $ (37,820) $ 38,820 Derivative liabilities 45,832 — 45,832 (37,820) 8,012 |
Schedule of Offsetting Derivative Assets and Liabilities | The following table presents information related to these offsetting arrangements as of December 31, 2020 and 2019 (in thousands): Gross Amounts Offset in Gross Amounts Gross Amounts Offset in the Balance Sheet Net Amounts Gross Amounts not Offset in the Balance Sheet Net December 31, 2020 Derivative assets $ 38,447 $ — $ 38,447 $ (35,100) $ 3,347 Derivative liabilities 415,628 — 415,628 (35,100) 380,528 December 31, 2019 Derivative assets $ 76,640 $ — $ 76,640 $ (37,820) $ 38,820 Derivative liabilities 45,832 — 45,832 (37,820) 8,012 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | The Company's financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 were as follows (in thousands): Fair Value at December 31, 2020 Fair Value Level 1 Level 2 Assets: Money market and deposit accounts $ 611,071 $ 611,071 $ — Publicly traded equity securities 159 159 — Certificates of deposit 4,373 — 4,373 Derivative instruments (1) 11,699 — 11,699 $ 627,302 $ 611,230 $ 16,072 Liabilities: Derivative instruments (1) $ 400,459 $ — $ 400,459 (1) Amounts are included within other current assets, other assets, others current liabilities and other liabilities in the Company's accompanying consolidated balance sheet. The Company's financial assets and liabilities measured at fair value on a recurring basis at December 31, 2019 were as follows (in thousands): Fair Value at Fair Value 2019 Level 1 Level 2 Assets: Money market and deposit accounts $ 886,547 $ 886,547 $ — Publicly traded equity securities 2,779 2,779 — Certificates of deposit 7,583 — 7,583 Derivative instruments (1) 57,707 — 57,707 $ 954,616 $ 889,326 $ 65,290 Liabilities: Derivative instruments (1) $ 35,612 $ — $ 35,612 (1) Amounts are included within other current assets, other assets, others current liabilities and other liabilities in the Company's accompanying consolidated balance sheet. |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Components of Lease Expenses | The components of lease expenses are as follows (in thousands): Years Ended December 31, 2020 2019 Finance lease cost Amortization of right-of-use assets (1) $ 120,169 $ 82,893 Interest on lease liabilities 113,699 110,688 Total finance lease cost 233,868 193,581 Operating lease cost 217,299 219,021 Variable lease cost 13,588 1,763 Total lease cost $ 464,755 $ 414,365 (1) Amortization of right-of-use assets is included within depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the consolidated statements of operations. |
Other Information Related to Leases | Other information related to leases is as follows (in thousands, except years and percent): Years Ended December 31, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 109,558 $ 107,000 Operating cash flows from operating leases 206,512 210,848 Financing cash flows from finance leases 115,288 126,486 Right-of-use assets obtained in exchange for lease obligations: (1) Finance leases $ 487,592 $ 387,808 Operating leases 108,797 145,025 As of December 31, 2020 2019 Weighted-average remaining lease term - finance leases (2) 14 years 15 years Weighted-average remaining lease term - operating leases (2) 12 years 13 years Weighted-average discount rate - finance leases 7 % 9 % Weighted-average discount rate - operating leases 4 % 4 % Finance lease ROU assets (3) $ 1,688,032 $ 1,277,614 (1) Represents all non-cash changes in ROU assets. (2) Includes lease renewal options that are reasonably certain to be exercised. |
Maturities of Lease Liabilities | Maturities of lease liabilities as of December 31, 2020 are as follows (in thousands): Year ended December 31, Operating Leases Finance Leases Total 2021 $ 199,291 $ 232,415 $ 431,706 2022 205,411 221,058 426,469 2023 188,724 215,909 404,633 2024 176,626 213,186 389,812 2025 165,437 209,424 374,861 Thereafter 1,032,186 1,928,094 2,960,280 Total lease payments 1,967,675 3,020,086 4,987,761 Plus amount representing residual property value — 17,331 17,331 Less imputed interest (504,841) (1,114,918) (1,619,759) Total $ 1,462,834 $ 1,922,499 $ 3,385,333 |
Maturity of Lease Liabilities | Maturities of lease liabilities as of December 31, 2020 are as follows (in thousands): Year ended December 31, Operating Leases Finance Leases Total 2021 $ 199,291 $ 232,415 $ 431,706 2022 205,411 221,058 426,469 2023 188,724 215,909 404,633 2024 176,626 213,186 389,812 2025 165,437 209,424 374,861 Thereafter 1,032,186 1,928,094 2,960,280 Total lease payments 1,967,675 3,020,086 4,987,761 Plus amount representing residual property value — 17,331 17,331 Less imputed interest (504,841) (1,114,918) (1,619,759) Total $ 1,462,834 $ 1,922,499 $ 3,385,333 |
Debt Facilities (Tables)
Debt Facilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Summary of Debt | The Company's mortgage and loans payable consisted of the following as of December 31 (in thousands): 2020 2019 Term loans $ 1,292,067 $ 1,287,151 Mortgage payable and loans payable 78,903 82,967 1,370,970 1,370,118 Less amount representing unamortized debt discount and debt issuance cost (3,288) (4,849) Add amount representing unamortized mortgage premium 1,861 1,768 1,369,543 1,367,037 Less current portion (82,289) (77,603) $ 1,287,254 $ 1,289,434 The Company's senior notes consisted of the following as of December 31 (in thousands): 2020 2019 Senior Notes Issuance Date Maturity Date Amount Effective Rate Amount Effective Rate 5.000% Infomart Senior Notes April 2018 April 2021 $ 150,000 4.51 % $ 450,000 4.46 % 5.375% Senior Notes due 2022 November 2014 January 2022 — — % 343,711 5.56 % 2.625% Senior Notes due 2024 November 2019 November 2024 1,000,000 2.79 % 1,000,000 2.79 % 2.875% Euro Senior Notes due 2024 March 2018 March 2024 — — % 841,500 3.08 % 1.250% Senior Notes due 2025 June 2020 July 2025 500,000 1.46 % — — % 1.000% Senior Notes due 2025 October 2020 September 2025 700,000 1.18 % — — % 2.875% Euro Senior Notes due 2025 September 2017 October 2025 — — % 1,122,000 3.04 % 2.900% Senior Notes due 2026 November 2019 November 2026 600,000 3.04 % 600,000 3.04 % 5.875% Senior Notes due 2026 December 2015 January 2026 — — % 1,100,000 6.03 % 2.875% Euro Senior Notes due 2026 December 2017 February 2026 611,050 3.04 % 1,122,000 3.04 % 1.800% Senior Notes due 2027 June 2020 July 2027 500,000 1.96 % — — % 5.375% Senior Notes due 2027 March 2017 May 2027 1,250,000 5.51 % 1,250,000 5.51 % 1.550% Senior Notes due 2028 October 2020 March 2028 650,000 1.67 % — — % 3.200% Senior Notes due 2029 November 2019 November 2029 1,200,000 3.30 % 1,200,000 3.30 % 2.150% Senior Notes due 2030 June 2020 July 2030 1,100,000 2.27 % — — % 3.000% Senior Notes due 2050 June 2020 July 2050 500,000 3.09 % — — % 2.950% Senior Notes due 2051 October 2020 September 2051 500,000 3.00 % — — % 9,261,050 9,029,211 Less amount representing unamortized debt discount and debt issuance cost (92,773) (78,030) Add amount representing unamortized debt premium 186 1,716 9,168,463 8,952,897 Less current portion (150,186) (643,224) $ 9,018,277 $ 8,309,673 |
Optional Redemption Schedule | Each series of the Company's senior notes, with the exception of 5.000% Infomart Senior Notes, provide for optional redemption. Two series of the Company’s senior notes provide for optional redemption as summarized below: Senior Notes Description Early Equity Redemption Price (1) First Scheduled Redemption Date (2) First Scheduled Redemption Price Second Year Redemption Price Third Year Redemption Price Fourth Year 2.875% Euro Senior Notes due 2026 102.875% February 1, 2021 101.438% 100.719% 100.000% 5.375% Senior Notes due 2027 105.375% May 15, 2022 102.688% 101.792% 100.896% 100.000% (1) Within 90 days of the closing of one or more equity offerings and at any time prior to the first scheduled redemption date, the Company may redeem up to 35% of the aggregate principal amount of any series of senior notes outstanding, at the respective early equity redemption price, plus accrued and unpaid interest to the redemption date, provided that at least 65% of the aggregate principal amount of the senior notes issued in such series remains outstanding immediately after such redemption(s). (2) On or after the first scheduled redemption date, the Company may redeem all or a part of a series of senior notes at the first scheduled redemption price plus accrued and unpaid interest thereon, if redeemed during the 12 month period beginning on the first scheduled redemption date and at reduced scheduled redemption prices during the 12 or 18 month periods beginning on the anniversaries of the first scheduled redemption date. |
Summary of Maturities of Debt Facilities | The following table sets forth maturities of the Company's debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs, debt discounts and debt premiums, as of December 31, 2020 (in thousands): Years ending: 2021 $ 232,289 2022 1,253,106 2023 6,896 2024 1,006,395 2025 1,204,605 Thereafter 6,930,590 $ 10,633,881 |
Fair Value of Debt Facilities | The following table sets forth the estimated fair values of the Company's mortgage and loans payable and senior notes, including current maturities, as of December 31 (in thousands): 2020 2019 Mortgage and loans payable $ 1,379,129 $ 1,378,429 Senior notes 9,705,486 9,339,497 |
Schedule of Interest Charges Incurred | The following table sets forth total interest costs incurred and total interest costs capitalized for the years ended December 31 (in thousands): 2020 2019 2018 Interest expense $ 406,466 $ 479,684 $ 521,494 Interest capitalized 26,750 32,173 19,880 Interest charges incurred $ 433,216 $ 511,857 $ 541,374 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Equity [Abstract] | |
Schedule of Reserve for Authorized But Unissued Shares of Common Stock | As of December 31, 2020, the Company had reserved the following authorized but unissued shares of common stock for future issuances: Common stock options and restricted stock units 5,960,946 Common stock employee purchase plans 2,806,672 Total 8,767,618 |
Components of Accumulated Other Comprehensive Loss, Net of Tax | The changes in accumulated other comprehensive loss, net of tax, by components are as follows (in thousands): December 31, 2017 Net Cumulative Effect Adjustment December 31, 2018 Net December 31, 2019 Net December 31, 2020 Foreign currency translation adjustment ("CTA") gain (loss) $ (576,860) $ (421,743) $ — $ (998,603) $ (58,315) $ (1,056,918) $ 548,503 $ (508,415) Unrealized gain (loss) on cash flow hedges (1) (24,191) 43,671 — 19,480 (3,842) 15,638 (82,790) (67,152) Net investment hedge CTA gain (loss) (1) (185,303) 219,628 — 34,325 73,294 107,619 (444,553) (336,934) Unrealized gain (loss) on available for sale securities (2) 2,124 — (2,124) — — — — — Net actuarial gain (loss) on defined benefit plans (3) (959) 55 — (904) (48) (952) 85 (867) $ (785,189) $ (158,389) $ (2,124) $ (945,702) $ 11,089 $ (934,613) $ 21,245 $ (913,368) (1) Refer to Note 8 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income. (2) Upon adoption of ASU 2016-01 during the three months ended March 31, 2018, the Company recorded a net cumulative effect adjustment of $2.1 million from accumulated other comprehensive loss to retained earnings. (3) The Company has a defined benefit pension plan covering all employees in two countries where such plans are mandated by law. The Company does not have any defined benefit plans in any other countries. The unamortized gain (loss) on defined benefit plans includes gains or losses resulting from a change in the value of either the projected benefit obligation or the plan assets resulting from a change in an actuarial assumption, net of amortization. |
Quarterly Dividend and Special Distributions | During the years ended December 31, 2020 , 2019 and 2018 , the Company's Board of Directors declared quarterly dividends whose treatment for federal income tax purposes were as follows: Declaration Date Record Date Payment Date Total Distribution (1) Nonqualified Ordinary Dividend (2) Total Distribution Amount (per share) (in thousands) Fiscal 2020 2/12/2020 2/26/2020 3/18/2020 $ 2.660000 $ 2.660000 $ 227,386 5/6/2020 5/20/2020 6/17/2020 2.660000 2.660000 235,449 7/29/2020 8/19/2020 9/23/2020 2.660000 2.660000 236,424 10/28/2020 11/18/2020 12/9/2020 2.660000 2.660000 237,010 Total $ 10.640000 $ 10.640000 $ 936,269 Fiscal 2019 2/13/2019 2/27/2019 3/20/2019 $ 2.460000 $ 2.460000 $ 198,933 5/1/2019 5/22/2019 6/19/2019 2.460000 2.460000 207,949 7/31/2019 8/21/2019 9/18/2019 2.460000 2.460000 209,226 10/30/2019 11/20/2019 12/11/2019 2.460000 2.460000 209,785 Total $ 9.840000 $ 9.840000 $ 825,893 Fiscal 2018 2/14/2018 2/26/2018 3/21/2018 $ 2.280000 $ 2.280000 $ 180,640 5/2/2018 5/23/2018 6/20/2018 2.280000 2.280000 181,207 8/8/2018 8/22/2018 9/19/2018 2.280000 2.280000 182,304 11/1/2018 11/14/2018 12/12/2018 2.280000 2.280000 183,297 Total $ 9.120000 $ 9.120000 $ 727,448 (1) Common stock dividends are characterized for federal income tax purposes as nonqualified ordinary dividend, qualified ordinary dividend, capital gains or return of capital. During the years ended December 31, 2020, 2019 and 2018, the Company did not classify any portion of the distributions as qualified ordinary dividend, capital gains or return of capital. |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Summary of Restricted Stock Unit Activity | RSUs activity is summarized as follows: Number of Shares Outstanding Weighted Average Grant Date Fair Value per Share Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value (1) (Dollars in Thousands) RSUs outstanding, December 31, 2017 1,303,891 $ 252.30 RSUs granted 704,249 387.31 RSUs released, vested (593,528) 299.07 Special distribution shares released (13,880) 283.14 RSUs canceled (173,460) 336.75 Special distribution shares canceled (485) 295.77 RSUs outstanding, December 31, 2018 1,226,787 361.22 RSUs granted 779,478 448.16 RSUs released, vested (549,259) 362.66 Special distribution shares released (1,781) 295.31 RSUs canceled (142,477) 364.42 Special distribution shares canceled (23) 297.04 RSUs outstanding, December 31, 2019 1,312,725 411.99 RSUs granted 695,383 596.80 RSUs released, vested (606,250) 426.03 Special distribution shares released (722) 264.57 RSUs canceled (63,502) 457.91 RSUs outstanding, December 31, 2020 1,337,634 $ 499.60 1.22 $ 955,311 (1) The intrinsic value is calculated based on the market value of the stock as of December 31, 2020. |
Disclosures for 2004 Purchase Plan | The Company provides the following disclosures for the 2004 Purchase Plan as of December 31 (dollars, except shares): 2020 2019 2018 Weighted-average purchase price per share $ 371.71 $ 354.72 $ 341.48 Weighted average grant-date fair value per share of shares purchased $ 114.08 $ 104.84 $ 90.04 Number of shares purchased 167,113 146,640 145,346 |
Assumptions in Computation of Fair Value | The Company uses the Black-Scholes option-pricing model to determine the fair value of shares under the 2004 Purchase Plan with the following assumptions during the years ended December 31: 2020 2019 2018 Range of dividend yield 1.94 - 2.08% 2.07 - 2.09% 1.97 - 2.00% Range of risk-free interest rate 0.10 - 1.55% 1.55 - 2.58% 1.79 - 2.68% Range of expected volatility 19.28 - 51.93% 19.27 - 25.55% 19.04 - 24.33% Weighted-average expected volatility 32.94 % 22.95 % 20.74 % Weighted average expected life (in years) 1.36 1.24 1.43 |
Schedule of Allocated Share-based Compensation | The following table presents, by operating expense, the Company's stock-based compensation expense recognized in the Company's consolidated statement of operations for the years ended December 31 (in thousands): 2020 2019 2018 Cost of revenues $ 32,893 $ 25,355 $ 18,247 Sales and marketing 72,895 56,719 53,448 General and administrative 205,232 154,465 109,021 Total $ 311,020 $ 236,539 $ 180,716 |
Schedule of Share-based Compensation by Plan | The Company's stock-based compensation recognized in the consolidated statement of operations was comprised of the following types of equity awards for the years ended December 31 (in thousands): 2020 2019 2018 RSUs $ 289,426 $ 217,541 $ 165,141 RSAs (1) 8,289 — — Employee stock purchase plan 13,305 18,998 15,575 Total $ 311,020 $ 236,539 $ 180,716 (1) During the year ended December 31, 2020, the Company awarded 48,799 shares of RSAs. See Note 1 for further discussion. |
Schedule of Shares Reserved and Shares Available for Grant | As of December 31, 2020, shares reserved and available for issuance under the equity compensation plans are as follows: Shares reserved Shares available for grant 2004 Purchase Plan 5,392,206 2,806,672 2020 Equity Incentive Plan 4,687,435 4,623,380 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Before Income Taxes Attributable to Geographic Locations | Income before income taxes is attributable to the following geographic locations for the years ended December 31, (in thousands): 2020 2019 2018 Domestic $ 18,395 $ 328,806 $ 298,009 Foreign 497,830 363,791 135,029 Income before income taxes $ 516,225 $ 692,597 $ 433,038 |
Components of Tax Benefit (Expenses) for Income Taxes | The tax benefit (expenses) for income taxes consisted of the following components for the years ended December 31, (in thousands): 2020 2019 2018 Current: Federal $ 4,552 $ (17,906) $ 7,085 State and local 1,597 (4,624) (2,663) Foreign (171,092) (135,356) (118,175) Subtotal (164,943) (157,886) (113,753) Deferred: Federal 16,553 (7,459) (27,874) State and local 704 (1,775) (1,165) Foreign 1,535 (18,232) 75,113 Subtotal 18,792 (27,466) 46,074 Income tax expense $ (146,151) $ (185,352) $ (67,679) |
Income Tax Reconciliation | The fiscal 2020, 2019, and 2018 income tax benefit (expenses) differed from the amounts computed by applying the U.S. federal income tax rate of 21% to pre-tax income as a result of the following for the years ended December 31 (in thousands): 2020 2019 2018 Federal tax at statutory rate $ (109,906) $ (145,445) $ (90,938) State and local tax (expense) benefit 2,071 (5,852) (3,616) Deferred tax assets generated in current year not benefited (12,852) (5,398) (3,777) Foreign income tax rate differential (16,364) (11,610) (4,072) Non-deductible expenses (4,427) (1,021) (756) Stock-based compensation expense (954) (2,105) (2,308) Change in valuation allowance 390 (2,870) 38,684 Foreign financing activities (11,743) (18,738) (17,548) Loss on divestments — (3,277) — Uncertain tax positions reserve (38,014) (35,724) (20,440) Tax adjustments related to REIT 50,107 63,614 32,189 Change in deferred tax adjustments (136) (10,574) — Other, net (4,323) (6,352) 4,903 Total income tax expense $ (146,151) $ (185,352) $ (67,679) |
Schedule of Deferred Tax Assets and Liabilities | The types of temporary differences that give rise to significant portions of the Company's deferred tax assets and liabilities are set out below as of December 31 (in thousands): 2020 2019 (1) Deferred tax assets: Stock-based compensation expense $ 5,583 $ 2,675 Unrealized losses 17,268 6,492 Lease liabilities 214,560 189,951 Loss carryforwards and tax credits 117,150 59,735 Others, net 14,976 8,500 Gross deferred tax assets 369,537 267,353 Valuation allowance (82,344) (57,812) Total deferred tax assets, net 287,193 209,541 Deferred tax liabilities: Property, plant and equipment (2) (346,916) (271,262) Deferred income (31,538) (5,248) Intangible assets (132,681) (144,404) Total deferred tax liabilities (511,135) (420,914) Net deferred tax liabilities $ (223,942) $ (211,373) (1) The prior year amounts presented in the table above have been reclassified to conform with the current year presentation. |
Changes in Valuation Allowance for Deferred Tax Assets | Changes in the valuation allowance for deferred tax assets for the years ended December 31, 2020, 2019 and 2018 are as follows (in thousands): 2020 2019 2018 Beginning balance $ 57,812 $ 57,003 $ 84,573 Amounts from acquisitions 5,777 (2,707) 33,070 Divested balances — (351) — Amounts recognized into income (390) 2,870 (38,684) Current increase (decrease) 15,044 697 (13,086) Impact of foreign currency exchange 4,101 300 (8,870) Ending balance $ 82,344 $ 57,812 $ 57,003 |
Schedule of Net Operating Loss Carryforwards | The Company's NOL carryforwards for federal, state and foreign tax purposes which expire, if not utilized, at various intervals from 2021, are outlined below (in thousands): Expiration Date Federal (1) State Foreign (2) (3) Total 2021 $ 110,035 $ — $ 1,580 $ 111,615 2022 to 2024 46,827 — 17,829 64,656 2025 to 2027 13,005 — 34,561 47,566 2028 to 2030 — — 32,393 32,393 2031 to 2033 — 767 — 767 2034 to 2036 4,246 2,088 3,807 10,141 Thereafter 152,495 38,929 399,501 590,925 $ 326,608 $ 41,784 $ 489,671 $ 858,063 (1) The total amount of NOL carryforwards that will not be available to offset the Company's future taxable income after dividend paid deduction due to Section 382 limitations was $165.1 million for federal. (2) In certain jurisdictions, the net operating loss carryforwards can only be used to offset a percentage of taxable income in a given year. (3) If certain substantial changes in the entity's ownership occur or have determined to have occurred, there may be a limitation on the amount of the carryforwards that can be utilized. |
Reconciliation of Unrecognized Tax Benefits | The beginning and ending balances of the Company's unrecognized tax benefits are reconciled below for the years ended December 31 (in thousands): 2020 2019 2018 Beginning balance $ 173,726 $ 150,930 $ 82,390 Gross increases related to prior year tax positions 14,732 — 33,436 Gross decreases related to prior year tax positions — (1,160) — Gross increases related to current year tax positions 29,149 31,332 48,685 Decreases resulting from expiration of statute of limitation (6,518) (2,112) (1,276) Decreases resulting from settlements (3,330) (5,264) (12,305) Ending balance $ 207,759 $ 173,726 $ 150,930 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
Activity of Related Party Transactions | The Company's activity of other related party transactions was as follows (in thousands): Years ended December 31, 2020 2019 2018 Revenues $ 95,264 $ 25,905 $ 19,439 Costs and services 10,849 15,844 19,708 As of December 31, 2020 2019 Accounts receivable $ 6,519 $ 3,345 Accounts payable — 800 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Segment Reporting [Abstract] | |
Revenue Information by Category | The following tables present revenue information disaggregated by service lines and geographic areas (in thousands): Twelve Months Ended December 31, 2020 Americas (2) EMEA Asia-Pacific Total Colocation (1) $ 1,820,709 $ 1,504,770 $ 933,522 $ 4,259,001 Interconnection 622,327 213,490 187,441 1,023,258 Managed infrastructure 120,159 127,722 89,464 337,345 Other (1) 19,605 18,738 83 38,426 Recurring revenues 2,582,800 1,864,720 1,210,510 5,658,030 Non-recurring revenues 124,958 131,669 83,888 340,515 Total $ 2,707,758 $ 1,996,389 $ 1,294,398 $ 5,998,545 (1) Includes some leasing and hedging activities. (2) Includes revenues of $2.5 billion attributed to the U.S. Twelve Months Ended December 31, 2019 Americas (2) EMEA Asia-Pacific Total Colocation (1) $ 1,769,654 $ 1,395,544 $ 857,009 $ 4,022,207 Interconnection 576,709 161,552 155,328 893,589 Managed infrastructure 90,262 113,631 88,735 292,628 Other (1) 19,743 10,019 — 29,762 Recurring revenues 2,456,368 1,680,746 1,101,072 5,238,186 Non-recurring revenues 131,359 125,698 66,897 323,954 Total $ 2,587,727 $ 1,806,444 $ 1,167,969 $ 5,562,140 (1) Includes some leasing and hedging activities. (2) Includes revenues of $2.4 billion attributed to the U.S. Twelve Months Ended December 31, 2018 Americas (2) EMEA Asia-Pacific Total Colocation (1) $ 1,732,998 $ 1,201,769 $ 735,404 $ 3,670,171 Interconnection 532,163 138,874 130,928 801,965 Managed infrastructure 75,595 118,685 85,352 279,632 Other (1) 16,570 8,164 — 24,734 Recurring revenues 2,357,326 1,467,492 951,684 4,776,502 Non-recurring revenues 127,408 95,145 72,599 295,152 Total $ 2,484,734 $ 1,562,637 $ 1,024,283 $ 5,071,654 (1) Includes some leasing and hedging activities. |
Schedule of Adjusted EBITDA | The Company defines adjusted EBITDA as income from operations excluding depreciation, amortization, accretion, stock-based compensation expense, restructuring charges, impairment charges, transaction costs and gain on asset sales as presented below for the years ended December 31 (in thousands): 2020 2019 2018 Adjusted EBITDA: Americas $ 1,186,022 $ 1,237,622 $ 1,183,831 EMEA 974,246 827,980 698,280 Asia-Pacific 692,630 622,125 531,129 Total adjusted EBITDA 2,852,898 2,687,727 2,413,240 Depreciation, amortization and accretion expense (1,427,010) (1,285,296) (1,226,741) Stock-based compensation expense (311,020) (236,539) (180,716) Transaction costs (55,935) (24,781) (34,413) Impairment charges (7,306) (15,790) — Gain on asset sales 1,301 44,310 6,013 Income from operations $ 1,052,928 $ 1,169,631 $ 977,383 |
Continuing Operations | The Company provides the following segment disclosures related to its operations as follows for the years ended December 31 (in thousands): 2020 2019 2018 Depreciation and amortization: Americas $ 729,611 $ 669,498 $ 636,214 EMEA 389,332 353,765 355,895 Asia-Pacific 304,426 261,574 235,380 Total $ 1,423,369 $ 1,284,837 $ 1,227,489 Capital expenditures: Americas $ 866,989 $ 805,360 $ 773,514 EMEA 888,239 733,326 884,790 Asia-Pacific 527,276 540,835 437,870 Total $ 2,282,504 $ 2,079,521 $ 2,096,174 The Company's long-lived assets, including property, plant and equipment, net and operating lease right-of-use assets, are located in the following geographic areas as of December 31 (in thousands): 2020 2019 Americas (1) $ 6,429,861 $ 5,400,287 EMEA 5,002,271 4,051,701 Asia-Pacific 3,070,952 2,700,609 Total Property, plant and equipment, net $ 14,503,084 $ 12,152,597 (1) Includes $5.2 billion and $4.8 billion, respectively, of property, plant and equipment, net attributed to the U.S. as of December 31, 2020 and 2019. 2020 2019 Americas (1) $ 363,515 $ 387,598 EMEA 547,547 521,129 Asia-Pacific 563,995 566,640 Total Operating lease right-of-use assets $ 1,475,057 $ 1,475,367 (1) Includes $334.7 million and $373.7 million of operating lease ROU assets attributed to the U.S. as of December 31, 2020 and 2019, respectively. |
Quarterly Financial Informati_2
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Information | The following tables present selected quarterly information (in thousands, except per share data): 2020 Quarters Ended March 31 June 30 September 30 December 31 Revenues $ 1,444,542 $ 1,470,121 $ 1,519,767 $ 1,564,115 Gross profit 708,260 730,777 751,788 733,380 Net income attributable to Equinix 118,792 133,304 66,687 50,994 Earnings per share attributable to Equinix: Basic 1.39 1.53 0.75 0.57 Diluted 1.38 1.52 0.74 0.57 2019 Quarters Ended March 31 June 30 September 30 December 31 Revenues $ 1,363,218 $ 1,384,977 $ 1,396,810 $ 1,417,135 Gross profit 681,188 686,798 692,471 691,499 Net income attributable to Equinix 118,078 143,527 120,850 124,995 Earnings per share attributable to Equinix: Basic 1.44 1.70 1.42 1.47 Diluted 1.44 1.69 1.41 1.46 |
Nature of Business and Summar_4
Nature of Business and Summary of Significant Accounting Policies - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | |||||||||||||||
Mar. 31, 2020USD ($) | Dec. 31, 2020USD ($)data_center_site | Dec. 31, 2020USD ($)data_center_site | Dec. 31, 2020USD ($)service_providerdata_center_site | Dec. 31, 2020USD ($)data_center_sitecountry | Dec. 31, 2020USD ($)data_center_sitereporting_segment | Dec. 31, 2020USD ($)data_center_site | Dec. 31, 2020USD ($)segmentdata_center_site | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Nov. 02, 2020data_center | Oct. 01, 2020data_center | Jan. 08, 2020data_center | Jan. 01, 2020USD ($) | Jan. 01, 2019USD ($) | Jan. 01, 2018USD ($) | Dec. 31, 2017USD ($) | |
Item Effected [Line Items] | |||||||||||||||||
Number of network providers that provide internet access | service_provider | 1,800 | ||||||||||||||||
Data centers sites | data_center_site | 224 | 224 | 224 | 224 | 224 | 224 | 224 | ||||||||||
Number of markets | country | 63 | ||||||||||||||||
Cash equivalents maturity period (in days) | 90 days | ||||||||||||||||
Equity method investments, impairment charges | $ 0 | ||||||||||||||||
Non-marketable equity investments, impairment charges | 0 | ||||||||||||||||
Impairment charges on property plant and equipment | 7,306,000 | $ 15,790,000 | $ 0 | ||||||||||||||
Impairment charges | 7,306,000 | 15,790,000 | 0 | ||||||||||||||
Number of reportable segments | 3 | 3 | |||||||||||||||
Impairment charges, intangible assets | 0 | 0 | 0 | ||||||||||||||
Percentage of recurring revenue | 90.00% | ||||||||||||||||
Cumulative effect of adoption of new accounting standard | $ (10,634,118,000) | (10,634,118,000) | $ (10,634,118,000) | $ (10,634,118,000) | $ (10,634,118,000) | $ (10,634,118,000) | $ (10,634,118,000) | (8,840,382,000) | (7,219,279,000) | $ (6,849,790,000) | |||||||
Operating lease right-of-use assets | 1,475,057,000 | 1,475,057,000 | 1,475,057,000 | 1,475,057,000 | 1,475,057,000 | 1,475,057,000 | 1,475,057,000 | 1,475,367,000 | $ 1,468,762,000 | ||||||||
Operating lease liability | $ 1,462,834,000 | $ 1,462,834,000 | $ 1,462,834,000 | $ 1,462,834,000 | $ 1,462,834,000 | $ 1,462,834,000 | $ 1,462,834,000 | ||||||||||
Capitalized Contract Cost, Amortization Period | 5 years | 5 years | 5 years | 5 years | 5 years | 5 years | 5 years | ||||||||||
Property, plant and equipment | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Impairment charges on property plant and equipment | $ 0 | 0 | 0 | ||||||||||||||
RSU | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Vesting period | 4 years | ||||||||||||||||
RSA | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Vesting period | 3 years | ||||||||||||||||
COVID-19 | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Payments to employees | $ 8,600,000 | ||||||||||||||||
Axtel | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Number of data centers acquired | data_center | 3 | ||||||||||||||||
Bell Acquisition | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Number of data centers acquired | data_center | 1 | 12 | |||||||||||||||
Adjustment from adoption of new accounting standard | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Cumulative effect of adoption of new accounting standard | 900,000 | 5,973,000 | (269,776,000) | ||||||||||||||
Minimum | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Short term investment maturity (in days and years) | 90 days | ||||||||||||||||
Payment terms | 30 | ||||||||||||||||
Maximum | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Short term investment maturity (in days and years) | 1 year | ||||||||||||||||
Payment terms | 45 | ||||||||||||||||
Paris IBX Data Center | Minimum | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Revenue, requirement of payment, terms | 1 | ||||||||||||||||
Paris IBX Data Center | Maximum | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Revenue, requirement of payment, terms | 3 years | ||||||||||||||||
Executive Officer | Minimum | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Vesting period | 2 years | ||||||||||||||||
Executive Officer | Maximum | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Vesting period | 4 years | ||||||||||||||||
Retained Earnings | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Cumulative effect of adoption of new accounting standard | $ (1,760,302,000) | (1,760,302,000) | $ (1,760,302,000) | $ (1,760,302,000) | $ (1,760,302,000) | $ (1,760,302,000) | $ (1,760,302,000) | (1,391,425,000) | (889,948,000) | (252,689,000) | |||||||
Retained Earnings | Adjustment from adoption of new accounting standard | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Cumulative effect of adoption of new accounting standard | 900,000 | 5,973,000 | $ 900,000 | (271,900,000) | |||||||||||||
Equinix Stockholders' Equity | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Cumulative effect of adoption of new accounting standard | $ (10,633,988,000) | $ (10,633,988,000) | $ (10,633,988,000) | $ (10,633,988,000) | $ (10,633,988,000) | $ (10,633,988,000) | $ (10,633,988,000) | (8,840,606,000) | (7,219,279,000) | (6,849,790,000) | |||||||
Equinix Stockholders' Equity | Adjustment from adoption of new accounting standard | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Cumulative effect of adoption of new accounting standard | $ 900,000 | $ 5,973,000 | $ (269,776,000) | ||||||||||||||
Retained Earnings and ACOI | Adjustment from adoption of new accounting standard | |||||||||||||||||
Item Effected [Line Items] | |||||||||||||||||
Cumulative effect of adoption of new accounting standard | $ (269,800,000) |
Nature of Business and Summar_5
Nature of Business and Summary of Significant Accounting Policies - Schedule of Revenue by Geographical Region (Detail) - Geographic concentration risk - Sales | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Americas | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Percentages of revenue by geographic regions | 45.00% | 47.00% | 49.00% |
EMEA | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Percentages of revenue by geographic regions | 33.00% | 32.00% | 31.00% |
Asia-Pacific | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Percentages of revenue by geographic regions | 22.00% | 21.00% | 20.00% |
Nature of Business and Summar_6
Nature of Business and Summary of Significant Accounting Policies - Estimated Useful Lives of Property, Plant and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Core systems | Minimum | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Estimated useful life, in years | 3 years |
Core systems | Maximum | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Estimated useful life, in years | 40 years |
Buildings | Minimum | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Estimated useful life, in years | 12 years |
Buildings | Maximum | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Estimated useful life, in years | 58 years |
Leasehold improvements | Minimum | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Estimated useful life, in years | 12 years |
Leasehold improvements | Maximum | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Estimated useful life, in years | 40 years |
Personal Property, including capitalized internal-use software | Minimum | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Estimated useful life, in years | 3 years |
Personal Property, including capitalized internal-use software | Maximum | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Estimated useful life, in years | 10 years |
Nature of Business and Summar_7
Nature of Business and Summary of Significant Accounting Policies -Effect of Adopting Topic 842 (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Other current assets | $ 323,016 | $ 303,543 | $ 258,908 | $ 274,857 | |
Property, plant and equipment, net | 14,503,084 | 12,152,597 | 10,732,909 | 11,026,020 | |
Operating lease right-of-use assets | 1,475,057 | 1,475,367 | 1,468,762 | ||
Intangible assets, net | 2,170,945 | 2,102,389 | 2,310,091 | 2,333,296 | $ 2,384,972 |
Other assets | 776,047 | 580,788 | 469,784 | 533,252 | |
Current portion of operating lease liabilities | 154,207 | 145,606 | 144,405 | ||
Current portion of finance lease liabilities | 137,683 | 75,239 | 70,795 | ||
Current portion of finance lease liabilities | 77,844 | ||||
Other current liabilities | 354,368 | 153,938 | 120,540 | 126,995 | |
Operating lease liabilities, less current portion | 1,308,627 | 1,315,656 | 1,312,262 | ||
Finance lease liabilities, less current portion | 1,784,816 | 1,430,882 | 1,165,188 | ||
Finance lease liabilities, less current portion | 1,441,077 | ||||
Other liabilities | 948,999 | 621,725 | 541,491 | 629,763 | |
Retained earnings | $ 1,760,302 | $ 1,391,425 | 883,975 | $ 889,948 | |
Accounting Standards Update 2016-02 | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Other current assets | (15,949) | ||||
Property, plant and equipment, net | (293,111) | ||||
Operating lease right-of-use assets | 1,468,762 | ||||
Intangible assets, net | (23,205) | ||||
Other assets | (63,468) | ||||
Current portion of operating lease liabilities | 144,405 | ||||
Current portion of finance lease liabilities | 70,795 | ||||
Current portion of finance lease liabilities | (77,844) | ||||
Other current liabilities | (6,455) | ||||
Operating lease liabilities, less current portion | 1,312,262 | ||||
Finance lease liabilities, less current portion | 1,165,188 | ||||
Finance lease liabilities, less current portion | (1,441,077) | ||||
Other liabilities | (88,272) | ||||
Retained earnings | $ (5,973) |
Revenue Recognition - Opening a
Revenue Recognition - Opening and Closing Balances (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |||
Accounts receivable, net | $ 676,738 | $ 689,134 | $ 630,119 |
Increase (decrease) in accounts receivables | (12,396) | 59,015 | |
Contract assets, current | 13,534 | 10,033 | 9,778 |
Increase (decrease) in contract asset, current | 3,501 | 255 | |
Contract assets, non-current | 54,050 | 31,521 | 16,396 |
Increase (decrease) in contract asset, non-current | 22,529 | 15,125 | |
Customer deposits | 101,258 | 76,193 | 73,143 |
Increase (decrease) in deferred revenue, current | 25,065 | 3,050 | |
Deferred revenue, non-current | 71,242 | 46,555 | $ 46,641 |
Increase (decrease) in deferred revenue, non-current | $ 24,687 | $ (86) |
Revenue Recognition Revenue Rec
Revenue Recognition Revenue Recognition - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |||
Deferred revenue, revenue recognized | $ 87,000 | $ 87,300 | $ 81,800 |
Contract costs | 267,978 | 229,205 | |
Capitalized contract cost, amortization | 85,400 | $ 72,900 | $ 73,100 |
Revenue, remaining performance obligation | $ 8,400,000 |
Revenue Recognition - Remaining
Revenue Recognition - Remaining Performance Obligation (Details) $ in Billions | Dec. 31, 2020USD ($) |
Revenue from Contract with Customer [Abstract] | |
Revenue, remaining performance obligation | $ 8.4 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, requirement of payment, terms | 24 months |
Revenue Recognition - Remaini_2
Revenue Recognition - Remaining Performance Obligation, Expected Timing of Satisfaction (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Net investment hedge CTA gain (loss), net of tax effects of $—, $10 and $1,358 | $ (444,553) | $ 73,294 | $ 219,628 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Revenue, requirement of payment, terms | 24 months |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) $ in Thousands, € in Millions, $ in Millions, $ in Millions | Nov. 02, 2020USD ($)data_center | Nov. 02, 2020CAD ($)data_center | Mar. 02, 2020USD ($) | Jan. 08, 2020USD ($)data_center | Apr. 18, 2019USD ($) | Apr. 18, 2019EUR (€) | Apr. 18, 2018USD ($)data_center_sitemetro_area | Apr. 18, 2018AUD ($)data_center_sitemetro_area | Apr. 02, 2018USD ($) | Jun. 30, 2021CAD ($)data_center | Dec. 31, 2020USD ($)data_center_site | Sep. 30, 2020USD ($) | Jun. 30, 2020USD ($) | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2020USD ($)data_center_sitecountry | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Oct. 01, 2020USD ($)data_center |
Business Acquisition [Line Items] | ||||||||||||||||||||||
Stock-based compensation expense | $ 311,020 | $ 236,539 | $ 180,716 | |||||||||||||||||||
Goodwill | $ 5,472,553 | $ 4,781,858 | $ 5,472,553 | 4,781,858 | 4,836,388 | |||||||||||||||||
Data centers sites | data_center_site | 224 | 224 | ||||||||||||||||||||
Repayment of capital lease and other financing obligations | 103,774 | |||||||||||||||||||||
Loss on debt extinguishment | $ 145,804 | 52,825 | 51,377 | |||||||||||||||||||
Revenues | $ 1,564,115 | $ 1,519,767 | $ 1,470,121 | $ 1,444,542 | $ 1,417,135 | $ 1,396,810 | $ 1,384,977 | $ 1,363,218 | $ 5,998,545 | $ 5,562,140 | 5,071,654 | |||||||||||
Number of acquisitions | country | 3 | |||||||||||||||||||||
Bell Acquisition | ||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||
Number of data centers acquired | data_center | 1 | 1 | 12 | |||||||||||||||||||
Consideration transferred | $ 702,000 | $ 931.7 | ||||||||||||||||||||
Goodwill | $ 170,548 | |||||||||||||||||||||
Bell Acquisition | Discount rate | Customer relationships | ||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||
Measurement input | 0.080 | |||||||||||||||||||||
Packet Host, Inc. | ||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||
Consideration transferred | $ 290,300 | |||||||||||||||||||||
Stock-based compensation expense | $ 16,100 | |||||||||||||||||||||
Aggregate fair value of restricted stock awards issued | $ 30,200 | |||||||||||||||||||||
Vesting period | 3 years | |||||||||||||||||||||
Provisional information, adjustment, intangible assets | $ (10,100) | |||||||||||||||||||||
Goodwill | $ 230,620 | |||||||||||||||||||||
Packet Host, Inc. | Discount rate | Customer relationships | ||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||
Measurement input | 0.080 | |||||||||||||||||||||
Packet Host, Inc. | Discount rate | Trade names | ||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||
Measurement input | 0.080 | |||||||||||||||||||||
Packet Host, Inc. | Royalty rate | Trade names | ||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||
Measurement input | 0.010 | |||||||||||||||||||||
Axtel | ||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||
Number of data centers acquired | data_center | 3 | |||||||||||||||||||||
Cash consideration for acquisition | $ 175,000 | |||||||||||||||||||||
Consideration transferred | 189,000 | |||||||||||||||||||||
Payment of value added taxes | 14,000 | |||||||||||||||||||||
Goodwill | $ 78,902 | |||||||||||||||||||||
Axtel | Discount rate | Customer relationships | ||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||
Measurement input | 0.133 | |||||||||||||||||||||
GPX India Acquisition | Forecast | ||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||
Number of data centers acquired | data_center | 2 | |||||||||||||||||||||
Cash consideration for acquisition | $ 161 | |||||||||||||||||||||
Switch Datacenters' AMS1 | ||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||
Cash consideration for acquisition | $ 34,300 | € 30.6 | ||||||||||||||||||||
Metronode | ||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||
Cash consideration for acquisition | $ 804,600 | $ 1,034 | ||||||||||||||||||||
Data centers sites | data_center_site | 10 | 10 | ||||||||||||||||||||
Number data centers, metro areas | metro_area | 6 | 6 | ||||||||||||||||||||
Infomart Dallas | ||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||
Consideration transferred | $ 804,000 | |||||||||||||||||||||
Repayment of capital lease and other financing obligations | 170,300 | |||||||||||||||||||||
Asset retirement obligation, liabilities settled | 1,900 | |||||||||||||||||||||
Loss on debt extinguishment | $ 19,500 | |||||||||||||||||||||
Metronode and Infomart Dallas | ||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||
Acquisition costs | 31,100 | |||||||||||||||||||||
Revenues | $ 78,700 | |||||||||||||||||||||
Bell, Packet and Axtel | ||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||
Acquisition costs | 36,500 | |||||||||||||||||||||
Revenues of acquiree | 78,000 | |||||||||||||||||||||
Net income of acuiree | $ (41,000) |
Acquisitions - Bell Acquisition
Acquisitions - Bell Acquisition (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Oct. 01, 2020 | Mar. 02, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | |||||
Goodwill | $ 5,472,553 | $ 4,781,858 | $ 4,836,388 | ||
Bell Acquisition | |||||
Assets | |||||
Accounts receivable | $ 0 | ||||
Other current assets | 803 | ||||
Property, plant and equipment | 538,717 | ||||
Operating lease right-of-use assets | 14,359 | ||||
Intangible assets | 75,631 | ||||
Goodwill | 170,548 | ||||
Deferred tax and other assets | 722 | ||||
Total assets acquired | 800,780 | ||||
Liabilities [Abstract] | |||||
Accounts payable and accrued liabilities | (895) | ||||
Operating lease liabilities | (13,340) | ||||
Finance lease liabilities | (80,026) | ||||
Deferred tax and other liabilities | (4,495) | ||||
Net assets acquired | 702,024 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 0 | ||||
Cash and cash equivalents | $ 0 | ||||
Packet Host, Inc. | |||||
Assets | |||||
Accounts receivable | $ 5,098 | ||||
Other current assets | 299 | ||||
Property, plant and equipment | 27,945 | ||||
Operating lease right-of-use assets | 1,519 | ||||
Intangible assets | 58,500 | ||||
Goodwill | 230,620 | ||||
Deferred tax and other assets | 138 | ||||
Total assets acquired | 325,187 | ||||
Liabilities [Abstract] | |||||
Accounts payable and accrued liabilities | (1,275) | ||||
Operating lease liabilities | (1,519) | ||||
Finance lease liabilities | (27,945) | ||||
Deferred tax and other liabilities | (3,290) | ||||
Net assets acquired | 290,298 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | (860) | ||||
Cash and cash equivalents | $ 1,068 |
Acquisitions - Bell Acquisiti_2
Acquisitions - Bell Acquisition Intangible Assets (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |
Nov. 02, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Business Acquisition [Line Items] | |||
Fair value of intangible assets acquired | $ 1,568 | ||
Bell Acquisition | |||
Business Acquisition [Line Items] | |||
Fair value of intangible assets acquired | $ 75,631 | ||
Bell Acquisition | Customer relationships | |||
Business Acquisition [Line Items] | |||
Fair value of intangible assets acquired | $ 75,631 | ||
Acquired intangible assets, estimated useful lives (years) | 15 years | ||
Weighted-average estimated useful lives (years) | 15 years |
Acquisitions - Preliminary Purc
Acquisitions - Preliminary Purchase Price Allocation (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2020 | Oct. 01, 2020 | Mar. 02, 2020 | Jan. 08, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Assets | ||||||
Goodwill | $ 5,472,553 | $ 4,781,858 | $ 4,836,388 | |||
Bell Acquisition | ||||||
Assets | ||||||
Cash and cash equivalents | $ 0 | |||||
Accounts receivable | 0 | |||||
Other current assets | 803 | |||||
Property, plant and equipment | 538,717 | |||||
Operating lease right-of-use assets | 14,359 | |||||
Intangible assets | 75,631 | |||||
Goodwill | 170,548 | |||||
Deferred tax and other assets | 722 | |||||
Total assets acquired | 800,780 | |||||
Liabilities | ||||||
Accounts payable and accrued liabilities | (895) | |||||
Other current liabilities | 0 | |||||
Operating lease liabilities | (13,340) | |||||
Finance lease liabilities | (80,026) | |||||
Deferred tax and other liabilities | (4,495) | |||||
Net assets acquired | $ 702,024 | |||||
Packet Host, Inc. | ||||||
Assets | ||||||
Cash and cash equivalents | $ 1,068 | |||||
Accounts receivable | 5,098 | |||||
Other current assets | 299 | |||||
Property, plant and equipment | 27,945 | |||||
Operating lease right-of-use assets | 1,519 | |||||
Intangible assets | 58,500 | |||||
Goodwill | 230,620 | |||||
Deferred tax and other assets | 138 | |||||
Total assets acquired | 325,187 | |||||
Liabilities | ||||||
Accounts payable and accrued liabilities | (1,275) | |||||
Other current liabilities | (860) | |||||
Operating lease liabilities | (1,519) | |||||
Finance lease liabilities | (27,945) | |||||
Deferred tax and other liabilities | (3,290) | |||||
Net assets acquired | $ 290,298 | |||||
Provisional information, adjustment, intangible assets | (10,100) | |||||
Provisional information, adjustment, goodwill | $ 7,500 | |||||
Axtel | ||||||
Assets | ||||||
Cash and cash equivalents | $ 0 | |||||
Accounts receivable | 0 | |||||
Other current assets | 14,048 | |||||
Property, plant and equipment | 76,407 | |||||
Operating lease right-of-use assets | 1,646 | |||||
Intangible assets | 22,750 | |||||
Goodwill | 78,902 | |||||
Deferred tax and other assets | 0 | |||||
Total assets acquired | 193,753 | |||||
Liabilities | ||||||
Accounts payable and accrued liabilities | (238) | |||||
Other current liabilities | 0 | |||||
Operating lease liabilities | (1,586) | |||||
Finance lease liabilities | 0 | |||||
Deferred tax and other liabilities | (2,911) | |||||
Net assets acquired | $ 189,018 |
Acquisitions - Acquired Identif
Acquisitions - Acquired Identifiable Intangible Assets (Detail) - USD ($) $ in Thousands | Mar. 02, 2020 | Jan. 08, 2020 | Nov. 02, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Business Acquisition [Line Items] | |||||
Fair value of intangible assets acquired | $ 1,568 | ||||
Packet Host, Inc. | |||||
Business Acquisition [Line Items] | |||||
Fair value of intangible assets acquired | $ 58,500 | ||||
Packet Host, Inc. | Trade names | |||||
Business Acquisition [Line Items] | |||||
Fair value of intangible assets acquired | $ 1,300 | ||||
Acquired intangible assets, estimated useful lives (years) | 3 years | ||||
Weighted-average estimated useful lives (years) | 3 years | ||||
Packet Host, Inc. | Customer relationships | |||||
Business Acquisition [Line Items] | |||||
Fair value of intangible assets acquired | $ 52,100 | ||||
Acquired intangible assets, estimated useful lives (years) | 10 years | ||||
Weighted-average estimated useful lives (years) | 10 years | ||||
Packet Host, Inc. | Technology-Based Intangible Assets | |||||
Business Acquisition [Line Items] | |||||
Fair value of intangible assets acquired | $ 5,100 | ||||
Acquired intangible assets, estimated useful lives (years) | 3 years | ||||
Weighted-average estimated useful lives (years) | 3 years | ||||
Axtel | |||||
Business Acquisition [Line Items] | |||||
Fair value of intangible assets acquired | 22,750 | ||||
Axtel | Customer relationships | |||||
Business Acquisition [Line Items] | |||||
Fair value of intangible assets acquired | $ 22,750 | ||||
Acquired intangible assets, estimated useful lives (years) | 15 years | ||||
Weighted-average estimated useful lives (years) | 15 years | ||||
Bell Acquisition | |||||
Business Acquisition [Line Items] | |||||
Fair value of intangible assets acquired | $ 75,631 | ||||
Bell Acquisition | Customer relationships | |||||
Business Acquisition [Line Items] | |||||
Fair value of intangible assets acquired | $ 75,631 | ||||
Acquired intangible assets, estimated useful lives (years) | 15 years | ||||
Weighted-average estimated useful lives (years) | 15 years |
Earnings Per Share - Computatio
Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |||||||||||
Net income | $ 370,074 | $ 507,245 | $ 365,359 | ||||||||
Net (income) loss attributable to non-controlling interests | (297) | 205 | 0 | ||||||||
Net income attributable to Equinix | $ 50,994 | $ 66,687 | $ 133,304 | $ 118,792 | $ 124,995 | $ 120,850 | $ 143,527 | $ 118,078 | $ 369,777 | $ 507,450 | $ 365,359 |
Weighted-average shares used to calculate basic EPS (in shares) | 87,700 | 84,140 | 79,779 | ||||||||
Effect of dilutive securities: | |||||||||||
Employee equity awards (in shares) | 710 | 539 | 418 | ||||||||
Weighted-average shares used to calculate diluted EPS (in shares) | 88,410 | 84,679 | 80,197 | ||||||||
Basic EPS (in dollars per share) | $ 0.57 | $ 0.75 | $ 1.53 | $ 1.39 | $ 1.47 | $ 1.42 | $ 1.70 | $ 1.44 | $ 4.22 | $ 6.03 | $ 4.58 |
Diluted EPS (in dollars per share) | $ 0.57 | $ 0.74 | $ 1.52 | $ 1.38 | $ 1.46 | $ 1.41 | $ 1.69 | $ 1.44 | $ 4.18 | $ 5.99 | $ 4.56 |
Earnings Per Share - Anti-dilut
Earnings Per Share - Anti-dilutive Potential Shares of Common Stock Excluded from Computation of Earnings Per Share (Detail) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Common stock related to employee equity awards (in shares) | 19 | 21 | 265 |
Common stock related to employee equity awards | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Common stock related to employee equity awards (in shares) | 19 | 21 | 265 |
Assets Held for Sale (Detail)
Assets Held for Sale (Detail) $ in Thousands | Dec. 17, 2020USD ($)development_site | Dec. 15, 2020USD ($) | Oct. 08, 2019USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Impairment charges | $ 7,306 | $ 15,790 | $ 0 | ||||
Ownership percentage | 20.00% | 20.00% | |||||
New York 12 | Held-for-Sale | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Impairment charges | 15,800 | ||||||
GIC Private Limited | GIC, Singapore Sovereign Wealth Fund | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Ownership percentage | 80.00% | 80.00% | |||||
EMEA Joint Venture | Disposed of by sale | Paris 9 Data Center | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Contingent consideration | $ 17,700 | ||||||
EMEA Joint Venture | Disposed of by sale | London 10 And Paris 8 Data Centers | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Obligation to complete future construction | $ 41,400 | 46,000 | |||||
EMEA Joint Venture | Disposed of by sale | London 10 And Paris 8 Data Centers | Equinix, Inc. | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Ownership interest | 20.00% | ||||||
EMEA Joint Venture | Equinix, Inc. | Disposed of by sale | Paris 9 Data Center | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Proceeds from sale of data centers | $ 124,600 | ||||||
Consideration | 131,500 | ||||||
Fair value of contract asset | $ 5,600 | ||||||
EMEA Joint Venture | Equinix, Inc. | Disposed of by sale | London 10 And Paris 8 Data Centers | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Proceeds from sale of data centers | $ 351,800 | ||||||
Accounts receivable acquired in sale of asset | 41,900 | ||||||
Contingent consideration | $ 39,300 | ||||||
EMEA Joint Venture | Equinix, Inc. | Disposed of by sale | xScale | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Gain (loss) on sale | 45,100 | ||||||
EMEA Joint Venture | Equinix, Inc. | Disposed of by sale | xScale | Fair Value, Inputs, Level 3 | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Contingent consideration | $ 44,200 | $ 40,100 | |||||
Asia-Pacific Joint Venture | Equinix, Inc. | Disposed of by sale | Asia-Pacific Joint Venture | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Impairment charges | $ 7,300 | ||||||
Number Of Development Sites | development_site | 3 | ||||||
Proceeds from sale of data centers | $ 209,800 | ||||||
Accounts receivable acquired in sale of asset | $ 15,600 |
Equity Method Investments - Sch
Equity Method Investments - Schedule of Equity Method Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Oct. 08, 2019 |
Schedule of Equity Method Investments [Line Items] | |||
Ownership percentage | 20.00% | 20.00% | |
Equity method investments | $ 163,071 | $ 59,737 | |
EMEA Joint Venture | Equity Method Investment, Nonconsolidated Investee or Group of Investees | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership percentage | 200.00% | ||
Equity method investments | $ 101,892 | 51,092 | |
Asia-Pacific Joint Venture | Equity Method Investment, Nonconsolidated Investee or Group of Investees | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership percentage | 0.20% | ||
Equity method investments | $ 43,432 | 0 | |
Joint Venture | Equity Method Investment, Nonconsolidated Investee or Group of Investees | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity method investments | $ 17,747 | $ 8,645 |
Equity Method Investments (Deta
Equity Method Investments (Details) € in Millions, £ in Millions | Dec. 15, 2020USD ($) | Oct. 08, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2020EUR (€) | Dec. 31, 2020GBP (£) | Dec. 31, 2020JPY (¥) | Dec. 17, 2020 |
Schedule of Equity Method Investments [Line Items] | |||||||
Ownership percentage | 20.00% | 20.00% | 20.00% | 20.00% | 20.00% | ||
EMEA Joint Venture | Equity contribution commitment | Equinix, Inc. | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Other commitment | $ 25,800,000 | € 13.8 | £ 6.6 | ||||
EMEA Joint Venture | Equinix, Inc. | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Contribution to affiliate | 10,600,000 | ||||||
Equity contributions to joint venture | 48,000,000 | ||||||
EMEA Joint Venture | Disposed of by sale | London 10 And Paris 8 Data Centers | Equinix, Inc. | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Proceeds from sale of data centers | $ 351,800,000 | ||||||
Interest in Joint Venture | $ 41,900,000 | ||||||
EMEA Joint Venture | Disposed of by sale | London 10 And Paris 8 Data Centers | Equinix, Inc. | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Ownership interest | 20.00% | ||||||
EMEA Joint Venture | Disposed of by sale | Paris 9 Data Center | Equinix, Inc. | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Proceeds from sale of data centers | $ 124,600,000 | ||||||
Asia-Pacific Joint Venture | Variable Interest Entity, Not Primary Beneficiary | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Ownership percentage | 20.00% | ||||||
Initial fair value of equity method investment | 42,800,000 | ¥ 4,400,000,000 | |||||
Receivables from Asia-Pacific Joint Venture | 16,900,000 | 1,700,000,000 | |||||
Maximum exposure to loss | 121,100,000 | 12,400,000,000 | |||||
Asia-Pacific Joint Venture | Joint Venture Credit Facility Agreement | Variable Interest Entity, Not Primary Beneficiary | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Secured Debt | 305,200,000 | ||||||
Asia-Pacific Joint Venture | Bonds | Joint Venture Credit Facility Agreement | Variable Interest Entity, Not Primary Beneficiary | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Secured Debt | ¥ | 10,000,000,000 | ||||||
Asia-Pacific Joint Venture | Secured Debt | Joint Venture Credit Facility Agreement | Variable Interest Entity, Not Primary Beneficiary | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Secured Debt | ¥ | 21,500,000,000 | ||||||
Asia-Pacific Joint Venture | Equity contribution commitment | Equinix, Inc. | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Other commitment | $ 60,700,000 | ¥ 6,300,000,000 |
Balance Sheet Components - Cash
Balance Sheet Components - Cash, Cash Equivalents and Short-Term Investments (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Cash and Cash Equivalents [Abstract] | |||
Cash and cash equivalents | $ 1,604,869 | $ 1,869,577 | $ 606,166 |
Certificates of deposit | 4,373 | 7,583 | |
Publicly traded equity securities | 159 | 2,779 | |
Short-term Investments [Abstract] | |||
Total cash, cash equivalents and short-term investments | 1,609,401 | 1,879,939 | |
Total short-term investments | 4,532 | 10,362 | |
Cash | |||
Cash and Cash Equivalents [Abstract] | |||
Cash and cash equivalents | 993,798 | 983,030 | |
Money market funds | |||
Cash and Cash Equivalents [Abstract] | |||
Cash and cash equivalents | $ 611,071 | $ 886,547 |
Balance Sheet Components - Acco
Balance Sheet Components - Accounts Receivable, Net (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Receivables [Abstract] | ||||
Accounts receivable | $ 687,415 | $ 702,160 | ||
Allowance for credit losses | (10,677) | (13,026) | $ (15,950) | $ (18,228) |
Accounts receivable, net | $ 676,738 | $ 689,134 | $ 630,119 |
Balance Sheet Components - Acti
Balance Sheet Components - Activities of Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Beginning Balance | $ 13,026 | $ 15,950 | $ 18,228 |
Provision for credit loss allowance | 5,069 | 8,459 | 7,236 |
Net write-offs | (10,050) | (11,341) | (8,396) |
Impact of foreign currency exchange | 1,732 | (42) | (1,118) |
Ending Balance | 10,677 | $ 13,026 | $ 15,950 |
Adjustment from adoption of new accounting standard | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Adjustments due to adoption of ASU 2016-13 | $ 900 |
Balance Sheet Components - Othe
Balance Sheet Components - Other Current Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Prepaid expenses | $ 61,424 | $ 55,954 | ||
Taxes receivable | 125,614 | 122,823 | ||
Restricted cash, current | 11,135 | 7,090 | ||
Other receivables | 44,333 | 36,350 | ||
Derivative instruments | 8,906 | 25,426 | ||
Contract assets, current | 13,534 | 10,033 | $ 9,778 | |
Other current assets | 58,070 | 45,867 | ||
Other current assets, total | 323,016 | 303,543 | $ 258,908 | $ 274,857 |
Joint Venture | Disposed of by sale | xScale | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Contingent consideration | $ 44,200 | |||
Joint Venture | Disposed of by sale | xScale | Contingency consideration | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Contingent consideration | $ 34,300 |
Balance Sheet Components - Prop
Balance Sheet Components - Property, Plant and Equipment, Net (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment, gross | $ 21,679,353 | $ 18,087,247 | ||
Less accumulated depreciation | (7,176,269) | (5,934,650) | ||
Property, plant and equipment, net | 14,503,084 | 12,152,597 | $ 10,732,909 | $ 11,026,020 |
Capitalized computer software | 885,500 | 687,400 | ||
Core systems | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment, gross | 9,659,908 | 8,131,835 | ||
Buildings | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment, gross | 6,557,121 | 5,398,525 | ||
Leasehold improvements | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment, gross | 1,946,644 | 1,764,058 | ||
Construction in progress | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment, gross | 1,363,917 | 1,002,104 | ||
Personal property | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment, gross | 1,207,669 | 1,009,701 | ||
Land | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment, gross | $ 944,094 | $ 781,024 |
Balance Sheet Components - Good
Balance Sheet Components - Goodwill and Other Intangible Assets (Detail) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Goodwill And Intangible Assets [Line Items] | ||||||
Goodwill | $ 5,472,553 | $ 5,472,553 | $ 4,781,858 | $ 4,836,388 | ||
Intangible assets, gross | 3,023,746 | 3,023,746 | 2,808,696 | |||
Accumulated amortization | (852,801) | (852,801) | (706,307) | |||
Total | 2,170,945 | 2,170,945 | 2,102,389 | $ 2,310,091 | 2,333,296 | $ 2,384,972 |
Purchase consideration for asset acquisition | 64,905 | |||||
Customer relationships | ||||||
Goodwill And Intangible Assets [Line Items] | ||||||
Intangible assets, gross | 2,891,060 | 2,891,060 | 2,712,701 | |||
Accumulated amortization | (818,370) | (818,370) | (646,632) | |||
Trade names | ||||||
Goodwill And Intangible Assets [Line Items] | ||||||
Intangible assets, gross | 11,512 | 11,512 | 46,601 | |||
Accumulated amortization | (2,337) | (2,337) | (37,885) | |||
In-place leases | ||||||
Goodwill And Intangible Assets [Line Items] | ||||||
Intangible assets, gross | 33,770 | 33,770 | 33,295 | |||
Accumulated amortization | (20,037) | (20,037) | (14,329) | |||
Licenses | ||||||
Goodwill And Intangible Assets [Line Items] | ||||||
Intangible assets, gross | 9,697 | 9,697 | 9,697 | |||
Accumulated amortization | (6,600) | (6,600) | (4,529) | |||
At-the-money lease contracts | ||||||
Goodwill And Intangible Assets [Line Items] | ||||||
Intangible assets, gross | $ 64,905 | $ 64,905 | 0 | |||
Remaining operating lease terms | 12 years | 12 years | ||||
Operating lease, renewal term | 50 years | 50 years | ||||
Amortization term of At-the-Money lease | 12 years | |||||
Purchase consideration for asset acquisition | $ 49,400 | |||||
Deferred tax liability | 16,100 | $ 16,100 | ||||
Others | ||||||
Goodwill And Intangible Assets [Line Items] | ||||||
Intangible assets, gross | 12,802 | 12,802 | 6,402 | |||
Accumulated amortization | (5,457) | (5,457) | (2,932) | |||
Americas | ||||||
Goodwill And Intangible Assets [Line Items] | ||||||
Goodwill | 2,212,782 | 2,212,782 | 1,741,689 | 1,745,804 | ||
Total | 1,463,089 | 1,463,089 | 1,443,292 | 1,578,971 | 1,646,373 | |
Purchase consideration for asset acquisition | 0 | |||||
EMEA | ||||||
Goodwill And Intangible Assets [Line Items] | ||||||
Goodwill | 2,611,166 | 2,611,166 | 2,426,306 | 2,474,164 | ||
Total | 518,027 | 518,027 | 466,564 | 543,860 | 631,219 | |
Purchase consideration for asset acquisition | 64,905 | |||||
Asia-Pacific | ||||||
Goodwill And Intangible Assets [Line Items] | ||||||
Goodwill | 648,605 | 648,605 | 613,863 | 616,420 | ||
Total | 189,829 | $ 189,829 | $ 192,533 | $ 210,465 | $ 107,380 | |
Purchase consideration for asset acquisition | $ 0 |
Balance Sheet Components - Carr
Balance Sheet Components - Carrying Amount of Goodwill by Geographical Regions (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Goodwill [Roll Forward] | ||
Balance, Beginning | $ 4,781,858 | $ 4,836,388 |
Impact of foreign currency exchange | 217,931 | (16,514) |
Balance, Ending | 5,472,553 | 4,781,858 |
xScale | ||
Goodwill [Roll Forward] | ||
Asset sales | (7,306) | (59,246) |
New York 12 | ||
Goodwill [Roll Forward] | ||
Asset sales | (950) | |
2019 acquisitions | ||
Goodwill [Roll Forward] | ||
Purchase accounting - acquisition | 22,180 | |
Packet Host, Inc. | ||
Goodwill [Roll Forward] | ||
Purchase accounting - acquisition | 230,620 | |
Bell Acquisition | ||
Goodwill [Roll Forward] | ||
Purchase accounting - acquisition | 170,548 | |
Axtel | ||
Goodwill [Roll Forward] | ||
Purchase accounting - acquisition | 78,902 | |
Americas | ||
Goodwill [Roll Forward] | ||
Balance, Beginning | 1,741,689 | 1,745,804 |
Impact of foreign currency exchange | (8,977) | (3,165) |
Balance, Ending | 2,212,782 | 1,741,689 |
Americas | xScale | ||
Goodwill [Roll Forward] | ||
Asset sales | 0 | 0 |
Americas | New York 12 | ||
Goodwill [Roll Forward] | ||
Asset sales | (950) | |
Americas | 2019 acquisitions | ||
Goodwill [Roll Forward] | ||
Purchase accounting - acquisition | 0 | |
Americas | Packet Host, Inc. | ||
Goodwill [Roll Forward] | ||
Purchase accounting - acquisition | 230,620 | |
Americas | Bell Acquisition | ||
Goodwill [Roll Forward] | ||
Purchase accounting - acquisition | 170,548 | |
Americas | Axtel | ||
Goodwill [Roll Forward] | ||
Purchase accounting - acquisition | 78,902 | |
EMEA | ||
Goodwill [Roll Forward] | ||
Balance, Beginning | 2,426,306 | 2,474,164 |
Impact of foreign currency exchange | 184,860 | (14,475) |
Balance, Ending | 2,611,166 | 2,426,306 |
EMEA | xScale | ||
Goodwill [Roll Forward] | ||
Asset sales | 0 | (59,246) |
EMEA | New York 12 | ||
Goodwill [Roll Forward] | ||
Asset sales | 0 | |
EMEA | 2019 acquisitions | ||
Goodwill [Roll Forward] | ||
Purchase accounting - acquisition | 25,863 | |
EMEA | Packet Host, Inc. | ||
Goodwill [Roll Forward] | ||
Purchase accounting - acquisition | 0 | |
EMEA | Bell Acquisition | ||
Goodwill [Roll Forward] | ||
Purchase accounting - acquisition | 0 | |
EMEA | Axtel | ||
Goodwill [Roll Forward] | ||
Purchase accounting - acquisition | 0 | |
Asia-Pacific | ||
Goodwill [Roll Forward] | ||
Balance, Beginning | 613,863 | 616,420 |
Impact of foreign currency exchange | 42,048 | 1,126 |
Balance, Ending | 648,605 | 613,863 |
Asia-Pacific | xScale | ||
Goodwill [Roll Forward] | ||
Asset sales | (7,306) | 0 |
Asia-Pacific | New York 12 | ||
Goodwill [Roll Forward] | ||
Asset sales | 0 | |
Asia-Pacific | 2019 acquisitions | ||
Goodwill [Roll Forward] | ||
Purchase accounting - acquisition | $ (3,683) | |
Asia-Pacific | Packet Host, Inc. | ||
Goodwill [Roll Forward] | ||
Purchase accounting - acquisition | 0 | |
Asia-Pacific | Bell Acquisition | ||
Goodwill [Roll Forward] | ||
Purchase accounting - acquisition | 0 | |
Asia-Pacific | Axtel | ||
Goodwill [Roll Forward] | ||
Purchase accounting - acquisition | $ 0 |
Balance Sheet Components - Net
Balance Sheet Components - Net Book Value of Intangible Assets by Geographic Regions (Detail) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets, net beginning balance | $ 2,102,389 | $ 2,333,296 | $ 2,384,972 | |
ASC 842 adoption adjustment | (23,205) | |||
Intangible assets acquired during period | 1,568 | |||
Write-off of intangible asset | (1,998) | |||
Purchase consideration for asset acquisition | $ 64,905 | |||
Amortization of intangibles | (199,047) | (196,278) | (203,416) | |
Impact of foreign currency exchange | 45,817 | (9,469) | (48,680) | |
Intangible assets, net ending balance | 2,170,945 | 2,170,945 | 2,102,389 | 2,333,296 |
New York 12 | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Asset sales - NY12 data center | (8,412) | |||
Infomart Dallas | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 65,847 | |||
Metronode | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 128,229 | |||
Other 2018 acquisitions | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 8,342 | |||
Switch AMS1 | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 4,889 | |||
Axtel | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 22,750 | |||
Packet Host, Inc. | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 58,500 | |||
Bell Acquisition | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 75,631 | |||
Americas | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets, net beginning balance | 1,443,292 | 1,578,971 | 1,646,373 | |
ASC 842 adoption adjustment | (108) | |||
Intangible assets acquired during period | 0 | |||
Write-off of intangible asset | (334) | |||
Purchase consideration for asset acquisition | 0 | |||
Amortization of intangibles | (133,608) | (125,390) | (125,683) | |
Impact of foreign currency exchange | (3,476) | (1,769) | (7,232) | |
Intangible assets, net ending balance | 1,463,089 | 1,463,089 | 1,443,292 | 1,578,971 |
Americas | New York 12 | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Asset sales - NY12 data center | (8,412) | |||
Americas | Infomart Dallas | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 65,847 | |||
Americas | Metronode | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 0 | |||
Americas | Other 2018 acquisitions | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 0 | |||
Americas | Switch AMS1 | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 0 | |||
Americas | Axtel | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 22,750 | |||
Americas | Packet Host, Inc. | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 58,500 | |||
Americas | Bell Acquisition | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 75,631 | |||
EMEA | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets, net beginning balance | 466,564 | 543,860 | 631,219 | |
ASC 842 adoption adjustment | (20,692) | |||
Intangible assets acquired during period | 1,096 | |||
Write-off of intangible asset | (1,661) | |||
Purchase consideration for asset acquisition | 64,905 | |||
Amortization of intangibles | (49,417) | (54,432) | (62,283) | |
Impact of foreign currency exchange | 35,975 | (8,157) | (31,757) | |
Intangible assets, net ending balance | 518,027 | 518,027 | 466,564 | 543,860 |
EMEA | New York 12 | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Asset sales - NY12 data center | 0 | |||
EMEA | Infomart Dallas | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 0 | |||
EMEA | Metronode | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 0 | |||
EMEA | Other 2018 acquisitions | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 8,342 | |||
EMEA | Switch AMS1 | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 4,889 | |||
EMEA | Axtel | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 0 | |||
EMEA | Packet Host, Inc. | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 0 | |||
EMEA | Bell Acquisition | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 0 | |||
Asia-Pacific | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets, net beginning balance | 192,533 | 210,465 | 107,380 | |
ASC 842 adoption adjustment | (2,405) | |||
Intangible assets acquired during period | 472 | |||
Write-off of intangible asset | (3) | |||
Purchase consideration for asset acquisition | 0 | |||
Amortization of intangibles | (16,022) | (16,456) | (15,450) | |
Impact of foreign currency exchange | 13,318 | 457 | (9,691) | |
Intangible assets, net ending balance | $ 189,829 | 189,829 | 192,533 | 210,465 |
Asia-Pacific | New York 12 | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Asset sales - NY12 data center | 0 | |||
Asia-Pacific | Infomart Dallas | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 0 | |||
Asia-Pacific | Metronode | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 128,229 | |||
Asia-Pacific | Other 2018 acquisitions | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | $ 0 | |||
Asia-Pacific | Switch AMS1 | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | $ 0 | |||
Asia-Pacific | Axtel | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 0 | |||
Asia-Pacific | Packet Host, Inc. | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | 0 | |||
Asia-Pacific | Bell Acquisition | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired during period | $ 0 |
Balance Sheet Components - Esti
Balance Sheet Components - Estimated Future Amortization Expense Related to Intangibles (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Goodwill and Intangible Assets Disclosure [Abstract] | |||||
2021 | $ 206,244 | ||||
2022 | 201,455 | ||||
2023 | 199,698 | ||||
2024 | 198,323 | ||||
2025 | 195,742 | ||||
Thereafter | 1,169,483 | ||||
Total | $ 2,170,945 | $ 2,102,389 | $ 2,310,091 | $ 2,333,296 | $ 2,384,972 |
Balance Sheet Components - Ot_2
Balance Sheet Components - Other Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Deferred tax assets, net | $ 66,424 | $ 35,806 | ||
Prepaid expenses | 82,443 | 61,690 | ||
Debt issuance costs, net | 4,261 | 6,395 | ||
Deposits | 69,043 | 56,567 | ||
Restricted cash | 9,691 | 9,946 | ||
Derivative instruments | 2,793 | 32,280 | ||
Contract assets, non-current | 54,050 | 31,521 | $ 16,396 | |
Contract costs | 267,978 | 229,205 | ||
Equity method investments | 163,071 | 59,737 | ||
Other assets | 56,293 | 57,641 | ||
Total other assets | 776,047 | 580,788 | $ 469,784 | $ 533,252 |
Metronode | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Indemnification assets | 42,800 | $ 37,700 | ||
Accounting Standards Update 2018-15 Prospective | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Capitalized CCA implementation costs | $ 21,100 |
Balance Sheet Components - Ac_2
Balance Sheet Components - Accounts Payable and Accrued Expenses (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Payables and Accruals [Abstract] | ||
Accounts payable | $ 77,705 | $ 52,232 |
Accrued compensation and benefits | 317,117 | 241,361 |
Accrued interest | 79,437 | 103,345 |
Accrued taxes | 153,804 | 135,099 |
Accrued utilities and security | 76,910 | 107,404 |
Accrued other | 139,889 | 121,277 |
Total accounts payable and accrued expenses | 844,862 | 760,718 |
Income taxes payable | $ 59,800 | $ 57,700 |
Balance Sheet Components - Ot_3
Balance Sheet Components - Other Current Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Other Liabilities Disclosure [Abstract] | ||||
Deferred revenue, current | $ 101,258 | $ 76,193 | $ 73,143 | |
Customer deposits | 17,115 | 16,707 | ||
Derivative instruments | 188,726 | 31,596 | ||
Dividends payable, current | 10,873 | 9,029 | ||
Asset retirement obligations | 3,993 | 2,081 | ||
Other current liabilities | 32,403 | 18,332 | ||
Total other current liabilities | $ 354,368 | $ 153,938 | $ 120,540 | $ 126,995 |
Balance Sheet Components - Ot_4
Balance Sheet Components - Other Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Oct. 08, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Asset retirement obligations | $ 109,776 | $ 100,334 | |||
Deferred tax liabilities, net | 290,366 | 247,179 | |||
Deferred revenue, non-current | 71,242 | 46,555 | $ 46,641 | ||
Accrued taxes | 178,371 | 146,046 | |||
Dividends payable, non-current | 7,947 | 7,108 | |||
Customer deposits | 1,088 | 9,306 | |||
Derivative instruments | 211,733 | 4,017 | |||
Other liabilities | 78,476 | 61,180 | |||
Total other liabilities | 948,999 | $ 621,725 | $ 541,491 | $ 629,763 | |
EMEA Joint Venture | London 10 And Paris 8 Data Centers | Disposed of by sale | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Obligation to complete future construction | $ 46,000 | $ 41,400 |
Balance Sheet Components - Summ
Balance Sheet Components - Summary of Asset Retirement Obligation Liability (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset retirement obligations, beginning balance | $ 102,415 | $ 96,663 | $ 98,539 |
Additions | 5,909 | 6,980 | 5,126 |
Adjustments | (4,241) | (7,969) | (11,288) |
Accretion expense | 6,331 | 6,290 | 6,285 |
Impact of foreign currency exchange | 3,355 | 451 | (1,999) |
Asset retirement obligations, ending balance | $ 113,769 | $ 102,415 | $ 96,663 |
Derivatives and Hedging Instr_3
Derivatives and Hedging Instruments - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended |
Dec. 31, 2019 | Dec. 31, 2020 | |
Derivative [Line Items] | ||
Foreign currency cash flow hedge in AOCI to be reclassified in next 12 months | $ (16,300,000) | $ 35,400,000 |
Cross-currency interest rate swaps | Designated as hedging instruments | ||
Derivative [Line Items] | ||
Derivative notional amount | 750,000,000 | 3,300,000,000 |
Foreign currency forward contracts | Not designated as hedging instruments | ||
Derivative [Line Items] | ||
Derivative notional amount | 2,500,000,000 | 3,400,000,000 |
Net Investment Hedging | Foreign currency debt | Designated as hedging instruments | ||
Derivative [Line Items] | ||
Derivative notional amount | 4,100,000,000 | 1,900,000,000 |
Net Investment Hedging | Foreign currency forward contracts | Designated as hedging instruments | ||
Derivative [Line Items] | ||
Derivative notional amount | 0 | 355,600,000 |
Cash flow hedge instruments | Foreign currency forward and option contracts | ||
Derivative [Line Items] | ||
Derivative notional amount | 824,800,000 | 912,900,000 |
Cash flow hedge instruments | Interest Rate Lock Commitments | ||
Derivative [Line Items] | ||
Derivative notional amount | 0 | 0 |
Derivative, Notional Amount, Amount Settled | 1,900,000,000 | |
Interest rate cash flow hedge in AOCI to be reclassified in next 12 months | 4,100,000 | |
Cash flow hedges, gain (loss) | $ (31,600,000) | |
Cash flow hedge instruments | Treasury Lock | ||
Derivative [Line Items] | ||
Derivative notional amount | 1,500,000,000 | |
Cash flow hedges, gain (loss) | $ 5,100,000 |
Derivatives and Hedging Instr_4
Derivatives and Hedging Instruments - Schedule of Net Investment Hedges Effect on AOCI (Details) - Net Investment Hedging - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Derivative [Line Items] | |||
Amount of gain or (loss) recognized in accumulated other comprehensive income | $ (444,554) | $ 73,284 | $ 218,269 |
Amount of gain or (loss) excluded from effectiveness testing included in income | 27,238 | 19,261 | 0 |
Foreign currency debt | |||
Derivative [Line Items] | |||
Amount of gain or (loss) recognized in accumulated other comprehensive income | (208,281) | 47,033 | 218,269 |
Currency Swap | |||
Derivative [Line Items] | |||
Amount of gain or (loss) recognized in accumulated other comprehensive income | (218,843) | 15,514 | 0 |
Amount of gain or (loss) recognized in accumulated other comprehensive income | (347) | 10,737 | 0 |
Foreign Currency Forward Contract | |||
Derivative [Line Items] | |||
Amount of gain or (loss) recognized in accumulated other comprehensive income | (17,115) | 0 | 0 |
Amount of gain or (loss) recognized in accumulated other comprehensive income | 32 | 0 | 0 |
Interest expense | Currency Swap | |||
Derivative [Line Items] | |||
Amount of gain or (loss) excluded from effectiveness testing included in income | 27,196 | 19,261 | 0 |
Interest expense | Foreign Currency Forward Contract | |||
Derivative [Line Items] | |||
Amount of gain or (loss) excluded from effectiveness testing included in income | $ 42 | $ 0 | $ 0 |
Derivatives and Hedging Instr_5
Derivatives and Hedging Instruments - Schedule of Effect of Cash Flow Hedges on AOCI (Details) - Cash flow hedge instruments - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Amount of gain or (loss) recognized in accumulated other comprehensive income | $ (97,311) | $ (6,780) | |
Amount of gain or (loss) recognized in accumulated other comprehensive income | $ 58,227 | ||
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income | 16,104 | 38,863 | |
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income | (15,262) | ||
Amount of gain or (loss) excluded from effectiveness testing included in income | (1,761) | (994) | |
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net | 16,470 | ||
Foreign currency forward and option contracts | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Amount of gain or (loss) recognized in accumulated other comprehensive income | (68,573) | (9,945) | |
Amount of gain or (loss) recognized in accumulated other comprehensive income | 58,227 | ||
Foreign currency option contracts | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Amount of gain or (loss) recognized in accumulated other comprehensive income | 1,655 | (1,807) | |
Amount of gain or (loss) recognized in accumulated other comprehensive income | 0 | ||
Foreign currency option contracts | Sales | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Amount of gain or (loss) excluded from effectiveness testing included in income | (1,761) | (1,082) | |
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net | 0 | ||
Interest rate locks | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Amount of gain or (loss) recognized in accumulated other comprehensive income | (30,393) | 4,972 | |
Amount of gain or (loss) recognized in accumulated other comprehensive income | 0 | ||
Interest rate locks | Interest expense | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income | (1,204) | 79 | |
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income | 0 | ||
Foreign currency forward contracts | Sales | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income | 37,198 | 80,046 | |
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income | (30,603) | ||
Foreign currency forward contracts | Costs and operating expenses | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income | (19,890) | (41,262) | |
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income | 15,341 | ||
Foreign currency forward contracts | Other income (expense) | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Amount of gain or (loss) excluded from effectiveness testing included in income | $ 0 | $ 88 | |
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net | $ 16,470 |
Derivatives and Hedging Instr_6
Derivatives and Hedging Instruments - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Derivatives not designated as hedging instruments, gain (loss) | $ (128,549) | $ 37,459 | $ 90,974 |
Embedded derivatives | Revenues | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Derivatives not designated as hedging instruments, gain (loss) | (3,043) | 63 | 618 |
Economic hedges of embedded derivatives | Revenues | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Derivatives not designated as hedging instruments, gain (loss) | 2,142 | 550 | (877) |
Foreign currency forward contracts | Other income (expense) | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Derivatives not designated as hedging instruments, gain (loss) | $ (127,648) | $ 36,846 | $ 91,233 |
Derivatives and Hedging Instr_7
Derivatives and Hedging Instruments - Schedule of Fair Value of Derivative Instruments Recognized in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Derivative [Line Items] | ||
Derivative assets | $ 11,699 | $ 57,707 |
Derivative liabilities | 400,459 | 35,612 |
Designated as hedging instruments | ||
Derivative [Line Items] | ||
Derivative assets | 351 | 51,104 |
Derivative liabilities | 262,784 | 5,898 |
Designated as hedging instruments | Foreign currency forward and option contracts | ||
Derivative [Line Items] | ||
Derivative assets | 351 | 24,853 |
Derivative liabilities | 52,804 | 5,898 |
Designated as hedging instruments | Cross-currency interest rate swaps | ||
Derivative [Line Items] | ||
Derivative assets | 0 | 26,251 |
Derivative liabilities | 192,939 | 0 |
Designated as hedging instruments | Foreign Currency Forward Contract | ||
Derivative [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liabilities | 17,041 | 0 |
Not designated as hedging instruments | ||
Derivative [Line Items] | ||
Derivative assets | 11,348 | 6,603 |
Derivative liabilities | 137,675 | 29,714 |
Not designated as hedging instruments | Embedded derivatives | ||
Derivative [Line Items] | ||
Derivative assets | 3,255 | 4,595 |
Derivative liabilities | 3,858 | 2,268 |
Not designated as hedging instruments | Economic hedges of embedded derivatives | ||
Derivative [Line Items] | ||
Derivative assets | 4,372 | 1,367 |
Derivative liabilities | 12 | 0 |
Not designated as hedging instruments | Foreign currency forward contracts | ||
Derivative [Line Items] | ||
Derivative assets | 3,721 | 641 |
Derivative liabilities | $ 133,805 | $ 27,446 |
Derivatives and Hedging Instr_8
Derivatives and Hedging Instruments - Offsetting Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Derivative assets | ||
Gross Amounts | $ 38,447 | $ 76,640 |
Gross Amounts Offset in the Balance Sheet | 0 | 0 |
Net Amounts | 38,447 | 76,640 |
Gross Amounts not Offset in the Balance Sheet | (35,100) | (37,820) |
Net | 3,347 | 38,820 |
Derivative liabilities | ||
Gross Amounts | 415,628 | 45,832 |
Gross Amounts Offset in the Balance Sheet | 0 | 0 |
Net Amounts | 415,628 | 45,832 |
Gross Amounts not Offset in the Balance Sheet | (35,100) | (37,820) |
Net | $ 380,528 | $ 8,012 |
Fair Value Measurements - Finan
Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Assets: | ||
Publicly traded equity securities | $ 159 | $ 2,779 |
Derivative instruments | 38,447 | 76,640 |
Liabilities: | ||
Derivative instruments | 415,628 | 45,832 |
Fair value, measurements, recurring | ||
Assets: | ||
Publicly traded equity securities | 159 | 2,779 |
Derivative instruments | 11,699 | 57,707 |
Assets | 627,302 | 954,616 |
Liabilities: | ||
Derivative instruments | 400,459 | 35,612 |
Fair value, measurements, recurring | Money market and deposit accounts | ||
Assets: | ||
Investments | 611,071 | 886,547 |
Fair value, measurements, recurring | Certificates of deposit | ||
Assets: | ||
Investments | 4,373 | 7,583 |
Fair value, measurements, recurring | Fair value, Inputs, Level 1 | ||
Assets: | ||
Publicly traded equity securities | 159 | 2,779 |
Derivative instruments | 0 | 0 |
Assets | 611,230 | 889,326 |
Liabilities: | ||
Derivative instruments | 0 | 0 |
Fair value, measurements, recurring | Fair value, Inputs, Level 1 | Money market and deposit accounts | ||
Assets: | ||
Investments | 611,071 | 886,547 |
Fair value, measurements, recurring | Fair value, Inputs, Level 1 | Certificates of deposit | ||
Assets: | ||
Investments | 0 | 0 |
Fair value, measurements, recurring | Fair value, Inputs, Level 2 | ||
Assets: | ||
Publicly traded equity securities | 0 | 0 |
Derivative instruments | 11,699 | 57,707 |
Assets | 16,072 | 65,290 |
Liabilities: | ||
Derivative instruments | 400,459 | 35,612 |
Fair value, measurements, recurring | Fair value, Inputs, Level 2 | Money market and deposit accounts | ||
Assets: | ||
Investments | 0 | 0 |
Fair value, measurements, recurring | Fair value, Inputs, Level 2 | Certificates of deposit | ||
Assets: | ||
Investments | $ 4,373 | $ 7,583 |
Leases - Additional Information
Leases - Additional Information (Detail) $ in Thousands, ₩ in Millions, د.إ in Millions, $ in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | |||||||||||||||
Sep. 30, 2020USD ($)renewal_option | Dec. 31, 2020USD ($) | Dec. 31, 2020HKD ($) | Nov. 30, 2020 | Sep. 30, 2020SGD ($)renewal_option | Sep. 30, 2020KRW (₩)renewal_option | Jun. 30, 2020USD ($)lease | Jun. 30, 2020SGD ($)lease | Jun. 30, 2020AED (د.إ)lease | May 31, 2020renewal_option | Apr. 30, 2020renewal_option | Mar. 31, 2020USD ($)lease | Mar. 31, 2020HKD ($)lease | Feb. 29, 2020renewal_option | Feb. 20, 2020 | Dec. 31, 2019USD ($) | Jan. 01, 2019USD ($) | |
Lessee, Lease, Description [Line Items] | |||||||||||||||||
Number of lease agreements | lease | 4 | 4 | |||||||||||||||
Finance lease, term of contract | 11 years | ||||||||||||||||
Finance lease right-of-use assets | $ 1,688,032 | $ 1,277,614 | |||||||||||||||
Finance lease liability | 1,922,499 | ||||||||||||||||
Operating lease right-of-use assets | 1,475,057 | $ 1,475,367 | $ 1,468,762 | ||||||||||||||
Operating lease liability | 1,462,834 | ||||||||||||||||
Lease commitment | $ 684,100 | ||||||||||||||||
Minimum | |||||||||||||||||
Lessee, Lease, Description [Line Items] | |||||||||||||||||
Term of lease not yet commenced | 10 years | ||||||||||||||||
Maximum | |||||||||||||||||
Lessee, Lease, Description [Line Items] | |||||||||||||||||
Term of lease not yet commenced | 49 years | ||||||||||||||||
Silicon Valley 4 Data Center | |||||||||||||||||
Lessee, Lease, Description [Line Items] | |||||||||||||||||
Finance lease, renewal term | 5 years | ||||||||||||||||
Financing lease, number of renewal options | renewal_option | 2 | ||||||||||||||||
Finance lease, term of contract | 15 years 7 months | ||||||||||||||||
Finance lease right-of-use assets | $ 62,800 | ||||||||||||||||
Finance lease liability | $ 63,300 | ||||||||||||||||
Hong Kong 1 Data Center | |||||||||||||||||
Lessee, Lease, Description [Line Items] | |||||||||||||||||
Finance lease, term of contract | 18 years | 18 years | |||||||||||||||
Finance lease right-of-use assets | $ 21,000 | $ 163 | |||||||||||||||
Finance lease liability | $ 21,000 | $ 163 | |||||||||||||||
Hong Kong 1 Data Center Premises 2 | |||||||||||||||||
Lessee, Lease, Description [Line Items] | |||||||||||||||||
Finance lease, term of contract | 17 years | ||||||||||||||||
Finance lease right-of-use assets | $ 8,500 | $ 65.9 | |||||||||||||||
Finance lease liability | $ 8,500 | $ 65.9 | |||||||||||||||
Headquarter Office in Redwood City, California | |||||||||||||||||
Lessee, Lease, Description [Line Items] | |||||||||||||||||
Finance lease, renewal term | 5 years | ||||||||||||||||
Financing lease, number of renewal options | renewal_option | 2 | ||||||||||||||||
Finance lease, term of contract | 10 years 6 months | ||||||||||||||||
Finance lease right-of-use assets | $ 42,200 | ||||||||||||||||
Finance lease liability | 42,200 | ||||||||||||||||
Operating lease, term of contract | 10 years 6 months | ||||||||||||||||
Number of operating lease renewals | renewal_option | 2 | ||||||||||||||||
Operating lease, renewal term | 5 years | ||||||||||||||||
Remaining operating lease terms | 11 years | ||||||||||||||||
Operating lease right-of-use assets | 8,300 | ||||||||||||||||
Operating lease liability | 8,300 | ||||||||||||||||
Singapore 1 Data Center | |||||||||||||||||
Lessee, Lease, Description [Line Items] | |||||||||||||||||
Finance lease, renewal term | 3 years | ||||||||||||||||
Financing lease, number of renewal options | renewal_option | 5 | ||||||||||||||||
Finance lease, term of contract | 18 years | ||||||||||||||||
Finance lease right-of-use assets | 71,400 | $ 99.5 | |||||||||||||||
Finance lease liability | 71,400 | 99.5 | |||||||||||||||
De-recognized operating lease liability | (8,100) | (11.4) | |||||||||||||||
De-recognized right-of-use asset | $ (8,100) | $ (11.4) | |||||||||||||||
Abu Dhabi 1 Data Center | |||||||||||||||||
Lessee, Lease, Description [Line Items] | |||||||||||||||||
Finance lease, renewal term | 3 years | 3 years | 3 years | ||||||||||||||
Finance lease, term of contract | 10 years | 10 years | 10 years | ||||||||||||||
Finance lease right-of-use assets | $ 71,300 | د.إ 261.9 | |||||||||||||||
Finance lease liability | $ 71,300 | د.إ 261.9 | |||||||||||||||
Number of finance leases | lease | 2 | 2 | 2 | ||||||||||||||
Singapore Office | |||||||||||||||||
Lessee, Lease, Description [Line Items] | |||||||||||||||||
Operating lease, term of contract | 7 years | ||||||||||||||||
Number of operating lease renewals | renewal_option | 2 | ||||||||||||||||
Operating lease, renewal term | 3 years | ||||||||||||||||
Operating lease right-of-use assets | $ 47,100 | $ 64.2 | |||||||||||||||
Operating lease liability | $ 47,100 | $ 64.2 | |||||||||||||||
Seoul 1 Data Center | |||||||||||||||||
Lessee, Lease, Description [Line Items] | |||||||||||||||||
Finance lease, renewal term | 5 years | 5 years | 5 years | ||||||||||||||
Financing lease, number of renewal options | renewal_option | 3 | 3 | 3 | ||||||||||||||
Finance lease, term of contract | 4 years | 4 years | 4 years | ||||||||||||||
Finance lease right-of-use assets | $ 27,200 | ₩ 31,777 | |||||||||||||||
Finance lease liability | $ 26,000 | ₩ 30,386 | |||||||||||||||
Operating lease, renewal term | 5 years | 5 years | 5 years | ||||||||||||||
Number of likely renewals to be exercised | renewal_option | 1 | 1 | 1 | ||||||||||||||
Term of finance lease | 9 years |
Leases - Lease Expenses (Detail
Leases - Lease Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Finance lease cost | ||
Amortization of right-of-use assets | $ 120,169 | $ 82,893 |
Interest on lease liabilities | 113,699 | 110,688 |
Total finance lease cost | 233,868 | 193,581 |
Operating lease cost | 217,299 | 219,021 |
Variable Lease, Cost | 13,588 | 1,763 |
Total lease cost | $ 464,755 | $ 414,365 |
Leases - Other Information (Det
Leases - Other Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash paid for amounts included in the measurement of lease liabilities: | ||
Operating cash flows from finance leases | $ 109,558 | $ 107,000 |
Operating cash flows from operating leases | 206,512 | 210,848 |
Financing cash flows from finance leases | 115,288 | 126,486 |
Right-of-use assets obtained in exchange for lease obligations: | ||
Finance leases | 487,592 | 387,808 |
Operating leases | $ 108,797 | $ 145,025 |
Weighted-average remaining lease term - finance leases | 14 years | 15 years |
Weighted-average remaining lease term - operating leases | 12 years | 13 years |
Weighted-average discount rate - finance leases | 7.00% | 9.00% |
Weighted-average discount rate - operating leases | 4.00% | 4.00% |
Finance lease assets | $ 1,688,032 | $ 1,277,614 |
Finance lease, right-of-use asset, accumulated amortization | $ 604,100 | $ 474,800 |
Leases - Maturities of Lease Li
Leases - Maturities of Lease Liabilities (Details) $ in Thousands | Dec. 31, 2020USD ($) |
Operating Leases | |
2021 | $ 199,291 |
2022 | 205,411 |
2023 | 188,724 |
2024 | 176,626 |
2025 | 165,437 |
Thereafter | 1,032,186 |
Total lease payments | 1,967,675 |
Plus amount representing residual property value | 0 |
Less imputed interest | (504,841) |
Total | 1,462,834 |
Finance Leases | |
2021 | 232,415 |
2022 | 221,058 |
2023 | 215,909 |
2024 | 213,186 |
2025 | 209,424 |
Thereafter | 1,928,094 |
Total lease payments | 3,020,086 |
Plus amount representing residual property value | 17,331 |
Less imputed interest | (1,114,918) |
Total | 1,922,499 |
Total | |
2021 | 431,706 |
2022 | 426,469 |
2023 | 404,633 |
2024 | 389,812 |
2025 | 374,861 |
Thereafter | 2,960,280 |
Total lease payments | 4,987,761 |
Plus amount representing residual property value | 17,331 |
Less imputed interest | (1,619,759) |
Total | $ 3,385,333 |
Debt Facilities - Mortgage and
Debt Facilities - Mortgage and Loans Payable (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | ||
Long term debt, gross | $ 1,370,970 | $ 1,370,118 |
Less amount representing unamortized debt discount and debt issuance cost | (3,288) | (4,849) |
Add amount representing unamortized mortgage premium | 1,861 | 1,768 |
Mortgage and loans payable | 1,369,543 | 1,367,037 |
Less current portion | (82,289) | (77,603) |
Mortgage and loans payable, noncurrent | 1,287,254 | 1,289,434 |
Term loans | ||
Debt Instrument [Line Items] | ||
Long term debt, gross | 1,292,067 | 1,287,151 |
Mortgage payable and loans payable | ||
Debt Instrument [Line Items] | ||
Long term debt, gross | $ 78,903 | $ 82,967 |
Debt Facilities - Senior Credit
Debt Facilities - Senior Credit Facility and Revolving Facility (Detail) € in Millions | Apr. 15, 2020USD ($) | Apr. 15, 2020EUR (€) | Jul. 31, 2018USD ($) | Jul. 31, 2018JPY (¥) | Jul. 26, 2018JPY (¥) | Dec. 12, 2017USD ($) | Mar. 31, 2020USD ($) | Dec. 31, 2020USD ($)letter_of_credit | Dec. 31, 2020JPY (¥)letter_of_credit | Dec. 31, 2019USD ($) | Jul. 31, 2018JPY (¥) | Oct. 31, 2013USD ($) |
Debt Instrument [Line Items] | ||||||||||||
Long term debt, gross | $ 1,370,970,000 | $ 1,370,118,000 | ||||||||||
Senior Unsecured 364-Day Term Loan Facilities | Notes Payable to Banks | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Aggregate principal amount | $ 750,000,000 | |||||||||||
Closing Date Facility | Notes Payable to Banks | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Aggregate principal amount | 500,000,000 | |||||||||||
Delayed Draw Facility | Notes Payable to Banks | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Aggregate principal amount | 250,000,000 | |||||||||||
Closing Date Facility, Series 1 | Notes Payable to Banks | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Amount drawn on Closing Date Facility | 391,000,000 | |||||||||||
Closing Date Facility, Series 2 | Notes Payable to Banks | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Amount drawn on Closing Date Facility | $ 109,800,000 | € 100 | ||||||||||
Revolving credit facility borrowings | Letter of Credit | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Maximum borrowing capacity | $ 250,000,000 | |||||||||||
Revolving credit facility borrowings | Letter of Credit | Minimum | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Margin rate (percent) | 0.00% | |||||||||||
Quarterly facility fee (percent) | 0.15% | |||||||||||
Revolving credit facility borrowings | Letter of Credit | Maximum | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Margin rate (percent) | 0.40% | |||||||||||
Quarterly facility fee (percent) | 0.30% | |||||||||||
Revolving credit facility borrowings | Letter of Credit | LIBOR | Minimum | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Variable rate (percent) | 0.85% | |||||||||||
Revolving credit facility borrowings | Letter of Credit | LIBOR | Maximum | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Variable rate (percent) | 1.40% | |||||||||||
Revolving credit facility borrowings | Letter of Credit | Federal Funds Rate | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Variable rate (percent) | 0.50% | |||||||||||
Revolving credit facility borrowings | Letter of Credit | One month LIBOR | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Variable rate (percent) | 1.00% | |||||||||||
Revolving credit facility borrowings | Senior Credit Facility | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Maximum borrowing capacity | $ 3,000,000,000 | |||||||||||
Debt instrument, term | 5 years | |||||||||||
Revolving credit facility borrowings | Revolving Credit Facility | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Maximum borrowing capacity | $ 2,000,000,000 | |||||||||||
Amount borrowed on revolving facility | $ 250,000,000 | |||||||||||
Amount available to borrow under revolving facility | $ 1,900,000,000 | |||||||||||
Revolving credit facility borrowings | Term Loan Facility | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Maximum borrowing capacity | $ 1,000,000,000 | |||||||||||
Revolving credit facility borrowings | Letter of Credit | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Irrevocable letters of credit outstanding | letter_of_credit | 37 | 37 | ||||||||||
Letters of credit outstanding | $ 74,600,000 | |||||||||||
Revolving credit facility borrowings | Revolving credit facility borrowings | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Repay percentage | 5.00% | 5.00% | ||||||||||
Debt issuance costs, net | 1,200,000 | |||||||||||
Revolving credit facility borrowings | Revolving credit facility borrowings | Minimum | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Variable rate (percent) | 1.00% | 1.00% | ||||||||||
Revolving credit facility borrowings | Revolving credit facility borrowings | Maximum | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Variable rate (percent) | 1.70% | 1.70% | ||||||||||
Unsecured debt | Revolving credit facility borrowings | JPY Term Loan | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Aggregate principal debt amount issued | $ 424,700,000 | ¥ 47,500,000,000 | ¥ 47,500,000,000 | |||||||||
Long term debt, gross | $ 408,500,000 | ¥ 42,200,000,000 | ||||||||||
Effective interest rate (percent) | 1.74% | 1.74% | ||||||||||
Debt issuance costs, net | $ 2,100,000 | |||||||||||
Unsecured debt | Revolving credit facility borrowings | Japanese Yen Term Loan | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Repayment of debt | $ 391,300,000 | ¥ 43,800,000,000 | ||||||||||
Mortgage Payable | Frankfurt Kleyer 90 Carrier Hotel | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Effective interest rate (percent) | 4.25% | |||||||||||
Loans payable | $ 42,900,000 | |||||||||||
Mortgage Payable | Toronto 2 Data Center | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Effective interest rate (percent) | 3.63% | |||||||||||
Mortgage Payable | Toronto 2 Data Center | Toronto 2 Data Center | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Loans payable | $ 43,800,000 |
Debt Facilities - Term Loan Fac
Debt Facilities - Term Loan Facility (Detail) € in Millions | Apr. 15, 2020USD ($) | Apr. 15, 2020EUR (€) | Jul. 31, 2018USD ($) | Jul. 31, 2018JPY (¥) | Jul. 26, 2018JPY (¥) | Dec. 12, 2017USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2020GBP (£) | Dec. 31, 2020SEK (kr) | Dec. 31, 2020JPY (¥) | Dec. 31, 2019USD ($) | Jul. 31, 2018JPY (¥) | Dec. 12, 2017GBP (£) | Dec. 12, 2017SEK (kr) |
Short-term Debt [Line Items] | ||||||||||||||
Long term debt, gross | $ 1,370,970,000 | $ 1,370,118,000 | ||||||||||||
Senior Unsecured 364-Day Term Loan Facilities | Notes Payable to Banks | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Aggregate principal amount | $ 750,000,000 | |||||||||||||
Closing Date Facility | Notes Payable to Banks | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Aggregate principal amount | 500,000,000 | |||||||||||||
Delayed Draw Facility | Notes Payable to Banks | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Aggregate principal amount | 250,000,000 | |||||||||||||
Closing Date Facility, Series 2 | Notes Payable to Banks | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Amount drawn on Closing Date Facility | 109,800,000 | € 100 | ||||||||||||
Closing Date Facility, Series 1 | Notes Payable to Banks | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Amount drawn on Closing Date Facility | $ 391,000,000 | |||||||||||||
Revolving credit facility borrowings | Revolving credit facility borrowings | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Line of credit outstanding | $ 997,100,000 | $ 883,600,000 | £ 431,300,000 | kr 2,415,000,000 | £ 500,000,000 | kr 2,800,000,000 | ||||||||
Repay percentage | 5.00% | 5.00% | ||||||||||||
Debt weighted average interest rate | 1.85% | 1.85% | 1.85% | 1.85% | ||||||||||
Debt issuance costs, net | $ 1,200,000 | |||||||||||||
Unsecured debt | Revolving credit facility borrowings | JPY Term Loan | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Debt issuance costs, net | 2,100,000 | |||||||||||||
Aggregate principal debt amount issued | $ 424,700,000 | ¥ 47,500,000,000 | ¥ 47,500,000,000 | |||||||||||
Long term debt, gross | $ 408,500,000 | ¥ 42,200,000,000 | ||||||||||||
Effective interest rate (percent) | 1.74% | 1.74% | 1.74% | 1.74% | ||||||||||
Unsecured debt | Revolving credit facility borrowings | Japanese Yen Term Loan | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Repayment of debt | $ 391,300,000 | ¥ 43,800,000,000 | ||||||||||||
Minimum | Revolving credit facility borrowings | Revolving credit facility borrowings | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Variable rate (percent) | 1.00% | 1.00% | ||||||||||||
Maximum | Revolving credit facility borrowings | Revolving credit facility borrowings | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Variable rate (percent) | 1.70% | 1.70% |
Debt Facilities - Mortgage Paya
Debt Facilities - Mortgage Payable (Detail) - Mortgage Payable - USD ($) $ in Millions | Dec. 31, 2019 | Oct. 31, 2013 |
Frankfurt Kleyer 90 Carrier Hotel | ||
Debt Instrument [Line Items] | ||
Loans payable | $ 42.9 | |
Effective interest rate (percent) | 4.25% | |
Toronto 2 Data Center | ||
Debt Instrument [Line Items] | ||
Effective interest rate (percent) | 3.63% | |
Toronto 2 Data Center | Toronto 2 Data Center | ||
Debt Instrument [Line Items] | ||
Loans payable | $ 43.8 |
Debt Facilities - Summary of Se
Debt Facilities - Summary of Senior Notes (Detail) $ in Thousands, € in Millions | Dec. 31, 2020USD ($) | Oct. 23, 2020 | Oct. 07, 2020USD ($) | Jul. 08, 2020 | Jun. 22, 2020USD ($) | Jan. 02, 2020 | Dec. 31, 2019USD ($) | Dec. 31, 2019EUR (€) |
Debt Instrument [Line Items] | ||||||||
Long term debt, gross | $ 1,370,970 | $ 1,370,118 | ||||||
Add amount representing unamortized debt premium | 1,861 | 1,768 | ||||||
Total long term debt | 10,633,881 | |||||||
Senior Notes | ||||||||
Debt Instrument [Line Items] | ||||||||
Long term debt, gross | 9,261,050 | 9,029,211 | ||||||
Less amount representing unamortized debt discount and debt issuance cost | (92,773) | (78,030) | ||||||
Add amount representing unamortized debt premium | 186 | 1,716 | ||||||
Total long term debt | 9,168,463 | 8,952,897 | ||||||
Less current portion | (150,186) | (643,224) | ||||||
Long term debt, excluding current maturities | $ 9,018,277 | 8,309,673 | ||||||
Senior Notes | 5.00% Infomart Senior Notes | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 5.00% | |||||||
Long term debt, gross | $ 150,000 | $ 450,000 | ||||||
Effective interest rate (percent) | 4.51% | 4.46% | 4.46% | |||||
Senior Notes | 5.375% Senior Notes Due In 2022 | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 5.375% | 5.375% | ||||||
Long term debt, gross | $ 0 | $ 343,711 | ||||||
Effective interest rate (percent) | 0.00% | 5.56% | 5.56% | |||||
Senior Notes | 2.625% Senior Notes due 2024 | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 2.625% | |||||||
Long term debt, gross | $ 1,000,000 | $ 1,000,000 | ||||||
Effective interest rate (percent) | 2.79% | 2.79% | 2.79% | |||||
Senior Notes | 2.875% Euro Senior Notes Due 2024 | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 2.875% | 2.875% | ||||||
Long term debt, gross | $ 0 | $ 841,500 | ||||||
Effective interest rate (percent) | 0.00% | 3.08% | 3.08% | |||||
Senior Notes | 2.875% Euro Senior Notes Due 2025 | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 2.875% | 2.875% | ||||||
Long term debt, gross | $ 0 | $ 1,122,000 | ||||||
Effective interest rate (percent) | 0.00% | 3.04% | 3.04% | |||||
Senior Notes | 2.900% Senior Notes due 2026 | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 2.90% | |||||||
Long term debt, gross | $ 600,000 | $ 600,000 | ||||||
Effective interest rate (percent) | 3.04% | 3.04% | 3.04% | |||||
Senior Notes | 5.875% Senior Notes Due 2026 | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 5.875% | 5.875% | ||||||
Long term debt, gross | $ 0 | $ 1,100,000 | ||||||
Effective interest rate (percent) | 0.00% | 6.03% | 6.03% | |||||
Senior Notes | 2.875% Euro Senior Notes due 2026 | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 2.875% | 2.875% | ||||||
Long term debt, gross | $ 611,050 | $ 1,122,000 | € 1,000 | |||||
Effective interest rate (percent) | 3.04% | 3.04% | 3.04% | |||||
Senior Notes | 5.375% Senior Notes due 2027 | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 5.375% | |||||||
Long term debt, gross | $ 1,250,000 | $ 1,250,000 | ||||||
Effective interest rate (percent) | 5.51% | 5.51% | 5.51% | |||||
Senior Notes | 3.200% Senior Notes due 2029 | ||||||||
Debt Instrument [Line Items] | ||||||||
Long term debt, gross | $ 1,200,000 | $ 1,200,000 | ||||||
Effective interest rate (percent) | 3.30% | 3.30% | 3.30% | |||||
Senior Notes | 1.250 % Senior Notes Due 2025 | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 1.25% | 1.25% | ||||||
Long term debt, gross | $ 500,000 | |||||||
Effective interest rate (percent) | 1.46% | 0.00% | 0.00% | |||||
Less amount representing unamortized debt discount and debt issuance cost | $ (5,300) | |||||||
Senior Notes | 1.800% Senior Notes Due 2027 | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 1.80% | |||||||
Long term debt, gross | $ 500,000 | |||||||
Effective interest rate (percent) | 1.96% | 0.00% | 0.00% | |||||
Senior Notes | 3.200% Senior Notes Due In 2029 | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 3.20% | |||||||
Senior Notes | 2.150% Senior Notes Due 2030 | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 2.15% | 2.15% | ||||||
Long term debt, gross | $ 1,100,000 | |||||||
Effective interest rate (percent) | 2.27% | 0.00% | 0.00% | |||||
Less amount representing unamortized debt discount and debt issuance cost | $ (12,900) | |||||||
Senior Notes | 3.000% Senior Notes Due 2050 | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 3.00% | 3.00% | ||||||
Long term debt, gross | $ 500,000 | |||||||
Effective interest rate (percent) | 3.09% | 0.00% | 0.00% | |||||
Less amount representing unamortized debt discount and debt issuance cost | $ (14,200) | |||||||
Senior Notes | 1.000% Senior Notes Due 2025 | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 1.00% | 1.00% | ||||||
Long term debt, gross | $ 700,000 | |||||||
Effective interest rate (percent) | 1.18% | 0.00% | 0.00% | |||||
Less amount representing unamortized debt discount and debt issuance cost | $ (6,200) | |||||||
Senior Notes | 1.550% Senior Notes Due 2028 | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 1.55% | 1.55% | ||||||
Long term debt, gross | $ 650,000 | |||||||
Effective interest rate (percent) | 1.67% | 0.00% | 0.00% | |||||
Less amount representing unamortized debt discount and debt issuance cost | $ (5,800) | |||||||
Senior Notes | 2.950% Senior Notes Due 2051 | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (percent) | 2.95% | 2.95% | ||||||
Long term debt, gross | $ 500,000 | |||||||
Effective interest rate (percent) | 3.00% | 0.00% | 0.00% | |||||
Less amount representing unamortized debt discount and debt issuance cost | $ (8,100) |
Debt Facilities - Senior Notes
Debt Facilities - Senior Notes (Detail) € in Millions | Oct. 23, 2020USD ($) | Oct. 23, 2020EUR (€) | Jul. 08, 2020USD ($) | Jul. 08, 2020EUR (€) | Jan. 02, 2020USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Oct. 07, 2020USD ($) | Jun. 22, 2020USD ($) | Dec. 31, 2019EUR (€) |
Debt Instrument [Line Items] | |||||||||||
Loss on debt extinguishment | $ 145,804,000 | $ 52,825,000 | $ 51,377,000 | ||||||||
Long term debt, gross | 1,370,970,000 | 1,370,118,000 | |||||||||
Senior Notes | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Loss on debt extinguishment | $ 44,200,000 | $ 93,500,000 | 52,900,000 | ||||||||
Redemption premium | 29,300,000 | 77,800,000 | 43,300,000 | ||||||||
Write-off of unamortized debt issuance costs | $ 14,900,000 | $ 15,700,000 | 9,600,000 | ||||||||
Unamortized debt discount and debt issuance costs | 92,773,000 | 78,030,000 | |||||||||
Long term debt, gross | $ 9,261,050,000 | 9,029,211,000 | |||||||||
Senior Notes | 5.00% Infomart Senior Notes | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest rate (percent) | 5.00% | ||||||||||
Long term debt, gross | $ 150,000,000 | 450,000,000 | |||||||||
Senior Notes | 5.375% Senior Notes Due In 2022 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest rate (percent) | 5.375% | 5.375% | |||||||||
Debt redemption | $ 343,700,000 | ||||||||||
Loss on debt extinguishment | 5,900,000 | $ 5,900,000 | |||||||||
Redemption premium | 4,600,000 | 4,600,000 | |||||||||
Write-off of unamortized debt issuance costs | $ 1,300,000 | 1,300,000 | |||||||||
Long term debt, gross | $ 0 | 343,711,000 | |||||||||
Senior Notes | 2.625% Senior Notes due 2024 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest rate (percent) | 2.625% | ||||||||||
Long term debt, gross | $ 1,000,000,000 | 1,000,000,000 | |||||||||
Senior Notes | 2.875% Euro Senior Notes Due 2024 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest rate (percent) | 2.875% | 2.875% | 2.875% | ||||||||
Debt redemption | € | € 750 | ||||||||||
Long term debt, gross | $ 0 | 841,500,000 | |||||||||
Senior Notes | 1.250 % Senior Notes Due 2025 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest rate (percent) | 1.25% | 1.25% | |||||||||
Aggregate principal debt amount issued | $ 500,000,000 | ||||||||||
Unamortized debt discount and debt issuance costs | $ 5,300,000 | ||||||||||
Long term debt, gross | $ 500,000,000 | ||||||||||
Senior Notes | 1.000% Senior Notes Due 2025 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest rate (percent) | 1.00% | 1.00% | |||||||||
Aggregate principal debt amount issued | $ 700,000,000 | ||||||||||
Unamortized debt discount and debt issuance costs | $ 6,200,000 | ||||||||||
Long term debt, gross | $ 700,000,000 | ||||||||||
Senior Notes | 2.900% Senior Notes due 2026 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest rate (percent) | 2.90% | ||||||||||
Long term debt, gross | $ 600,000,000 | 600,000,000 | |||||||||
Senior Notes | 3.200% Senior Notes due 2029 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Long term debt, gross | $ 1,200,000,000 | 1,200,000,000 | |||||||||
Senior Notes | 2.875% Euro Senior Notes Due 2025 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest rate (percent) | 2.875% | 2.875% | 2.875% | ||||||||
Debt redemption | € | € 1,000 | ||||||||||
Long term debt, gross | $ 0 | 1,122,000,000 | |||||||||
Senior Notes | 2.875% Euro Senior Notes due 2026 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest rate (percent) | 2.875% | 2.875% | 2.875% | ||||||||
Debt redemption | € | € 500 | ||||||||||
Long term debt, gross | $ 611,050,000 | 1,122,000,000 | € 1,000 | ||||||||
Senior Notes | 1.800% Senior Notes Due 2027 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest rate (percent) | 1.80% | ||||||||||
Aggregate principal debt amount issued | $ 500,000,000 | ||||||||||
Unamortized debt discount and debt issuance costs | $ 5,600,000 | ||||||||||
Senior Notes | 3.000% Senior Notes Due 2050 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest rate (percent) | 3.00% | 3.00% | |||||||||
Aggregate principal debt amount issued | $ 500,000,000 | ||||||||||
Unamortized debt discount and debt issuance costs | $ 14,200,000 | ||||||||||
Long term debt, gross | $ 500,000,000 | ||||||||||
Senior Notes | 2.150% Senior Notes Due 2030 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest rate (percent) | 2.15% | 2.15% | |||||||||
Aggregate principal debt amount issued | $ 1,100,000,000 | ||||||||||
Unamortized debt discount and debt issuance costs | $ 12,900,000 | ||||||||||
Long term debt, gross | $ 1,100,000,000 | ||||||||||
Senior Notes | 5.875% Senior Notes Due 2026 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest rate (percent) | 5.875% | 5.875% | 5.875% | ||||||||
Debt redemption | $ 1,100,000,000 | ||||||||||
Long term debt, gross | $ 0 | $ 1,100,000,000 | |||||||||
Senior Notes | 1.550% Senior Notes Due 2028 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest rate (percent) | 1.55% | 1.55% | |||||||||
Aggregate principal debt amount issued | $ 650,000,000 | ||||||||||
Unamortized debt discount and debt issuance costs | $ 5,800,000 | ||||||||||
Long term debt, gross | $ 650,000,000 | ||||||||||
Senior Notes | 2.950% Senior Notes Due 2051 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest rate (percent) | 2.95% | 2.95% | |||||||||
Aggregate principal debt amount issued | $ 500,000,000 | ||||||||||
Unamortized debt discount and debt issuance costs | $ 8,100,000 | ||||||||||
Long term debt, gross | $ 500,000,000 | ||||||||||
Senior Notes | 2024 and 2026 Senior Notes | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Loss on debt extinguishment | 93,500,000 | ||||||||||
Redemption premium | 77,800,000 | ||||||||||
Write-off of unamortized debt issuance costs | $ 15,700,000 |
Debt Facilities - Optional Rede
Debt Facilities - Optional Redemption Schedule (Detail) - Senior Notes | 12 Months Ended | |||
Dec. 31, 2020 | Oct. 23, 2020 | Oct. 07, 2020 | Jun. 22, 2020 | |
Debt instrument redemption period prior to January 1, 2018 | ||||
Debt Instrument, Redemption [Line Items] | ||||
Redemption price, percentage | 100.00% | |||
Redemption, period | 90 days | |||
Debt instrument redemption period prior to January 1, 2018 | Redemption by Company of up to 35% of Aggregate Principal | ||||
Debt Instrument, Redemption [Line Items] | ||||
Percentage of aggregate principal amount for redemption | 35.00% | |||
Senior notes indenture outstanding | 65.00% | |||
First Scheduled Redemption Price | ||||
Debt Instrument, Redemption [Line Items] | ||||
Redemption, period | 12 months | |||
First Scheduled Redemption Price | Minimum | ||||
Debt Instrument, Redemption [Line Items] | ||||
Redemption, period | 12 months | |||
First Scheduled Redemption Price | Maximum | ||||
Debt Instrument, Redemption [Line Items] | ||||
Redemption, period | 18 months | |||
5.00% Infomart Senior Notes | ||||
Debt Instrument, Redemption [Line Items] | ||||
Interest rate (percent) | 5.00% | |||
1.250 % Senior Notes Due 2025 | ||||
Debt Instrument, Redemption [Line Items] | ||||
Interest rate (percent) | 1.25% | 1.25% | ||
1.000% Senior Notes Due 2025 | ||||
Debt Instrument, Redemption [Line Items] | ||||
Interest rate (percent) | 1.00% | 1.00% | ||
2.875% Euro Senior Notes due 2026 | ||||
Debt Instrument, Redemption [Line Items] | ||||
Interest rate (percent) | 2.875% | 2.875% | ||
2.875% Euro Senior Notes due 2026 | Early Equity Redemption Price | ||||
Debt Instrument, Redemption [Line Items] | ||||
Redemption price, percentage | 102.875% | |||
2.875% Euro Senior Notes due 2026 | First Scheduled Redemption Price | ||||
Debt Instrument, Redemption [Line Items] | ||||
Redemption price, percentage | 101.438% | |||
2.875% Euro Senior Notes due 2026 | Second Year Redemption Price | ||||
Debt Instrument, Redemption [Line Items] | ||||
Redemption price, percentage | 100.719% | |||
2.875% Euro Senior Notes due 2026 | Third Year Redemption Price | ||||
Debt Instrument, Redemption [Line Items] | ||||
Redemption price, percentage | 100.00% | |||
5.375% Senior Notes due 2027 | ||||
Debt Instrument, Redemption [Line Items] | ||||
Interest rate (percent) | 5.375% | |||
5.375% Senior Notes due 2027 | Early Equity Redemption Price | ||||
Debt Instrument, Redemption [Line Items] | ||||
Redemption price, percentage | 105.375% | |||
5.375% Senior Notes due 2027 | First Scheduled Redemption Price | ||||
Debt Instrument, Redemption [Line Items] | ||||
Redemption price, percentage | 102.688% | |||
5.375% Senior Notes due 2027 | Second Year Redemption Price | ||||
Debt Instrument, Redemption [Line Items] | ||||
Redemption price, percentage | 101.792% | |||
5.375% Senior Notes due 2027 | Third Year Redemption Price | ||||
Debt Instrument, Redemption [Line Items] | ||||
Redemption price, percentage | 100.896% | |||
5.375% Senior Notes due 2027 | Fourth Year (if scheduled) Redemption Price | ||||
Debt Instrument, Redemption [Line Items] | ||||
Redemption price, percentage | 100.00% | |||
1.550% Senior Notes Due 2028 | ||||
Debt Instrument, Redemption [Line Items] | ||||
Interest rate (percent) | 1.55% | 1.55% | ||
1.800% Senior Notes Due 2027 | ||||
Debt Instrument, Redemption [Line Items] | ||||
Interest rate (percent) | 1.80% | |||
2.150% Senior Notes Due 2030 | ||||
Debt Instrument, Redemption [Line Items] | ||||
Interest rate (percent) | 2.15% | 2.15% | ||
3.000% Senior Notes Due 2050 | ||||
Debt Instrument, Redemption [Line Items] | ||||
Interest rate (percent) | 3.00% | 3.00% | ||
2.950% Senior Notes Due 2051 | ||||
Debt Instrument, Redemption [Line Items] | ||||
Interest rate (percent) | 2.95% | 2.95% | ||
2.625% Senior Notes due 2024 | ||||
Debt Instrument, Redemption [Line Items] | ||||
Interest rate (percent) | 2.625% | |||
2.900% Senior Notes due 2026 | ||||
Debt Instrument, Redemption [Line Items] | ||||
Interest rate (percent) | 2.90% | |||
3.200% Senior Notes Due In 2029 | ||||
Debt Instrument, Redemption [Line Items] | ||||
Interest rate (percent) | 3.20% |
Debt Facilities - Loss on Debt
Debt Facilities - Loss on Debt Extinguishment (Detail) - USD ($) $ in Thousands | Oct. 23, 2020 | Jul. 08, 2020 | Jan. 02, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Instrument [Line Items] | ||||||
Loss on debt extinguishment | $ 145,804 | $ 52,825 | $ 51,377 | |||
Japanese Yen Term Loan | ||||||
Debt Instrument [Line Items] | ||||||
Loss on debt extinguishment | 2,200 | |||||
Amendments to leases and financing obligations | ||||||
Debt Instrument [Line Items] | ||||||
Loss on debt extinguishment | 17,100 | |||||
Settlement of financing obligations for property purchased | ||||||
Debt Instrument [Line Items] | ||||||
Loss on debt extinguishment | 12,600 | |||||
Senior Notes | ||||||
Debt Instrument [Line Items] | ||||||
Loss on debt extinguishment | $ 44,200 | $ 93,500 | 52,900 | |||
Redemption premium | 29,300 | 77,800 | 43,300 | |||
Write-off of unamortized debt issuance costs | $ 14,900 | $ 15,700 | $ 9,600 | |||
Senior Notes | 5.375% Senior Notes Due In 2022 | ||||||
Debt Instrument [Line Items] | ||||||
Loss on debt extinguishment | $ 5,900 | 5,900 | ||||
Redemption premium | 4,600 | 4,600 | ||||
Write-off of unamortized debt issuance costs | $ 1,300 | 1,300 | ||||
Senior Notes | 2024 and 2026 Senior Notes | ||||||
Debt Instrument [Line Items] | ||||||
Loss on debt extinguishment | 93,500 | |||||
Redemption premium | 77,800 | |||||
Write-off of unamortized debt issuance costs | 15,700 | |||||
Senior Notes | 2025 and 2026 Senior Notes | ||||||
Debt Instrument [Line Items] | ||||||
Loss on debt extinguishment | 44,200 | |||||
Redemption premium | 29,300 | |||||
Write-off of unamortized debt issuance costs | $ 14,900 | |||||
Infomart Dallas Acquisition | ||||||
Debt Instrument [Line Items] | ||||||
Loss on debt extinguishment | $ 19,500 |
Debt Facilities - Summary of Ma
Debt Facilities - Summary of Maturities of Debt Facilities (Detail) $ in Thousands | Dec. 31, 2020USD ($) |
Long-term Debt, Fiscal Year Maturity [Abstract] | |
2021 | $ 232,289 |
2022 | 1,253,106 |
2023 | 6,896 |
2024 | 1,006,395 |
2025 | 1,204,605 |
Thereafter | 6,930,590 |
Total long term debt | $ 10,633,881 |
Debt Facilities - Fair Value of
Debt Facilities - Fair Value of Debt Facilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Disclosure [Abstract] | ||
Mortgage and loans payable | $ 1,379,129 | $ 1,378,429 |
Senior notes | $ 9,705,486 | $ 9,339,497 |
Debt Facilities - Interest Char
Debt Facilities - Interest Charges (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |||
Interest expense | $ 406,466 | $ 479,684 | $ 521,494 |
Interest capitalized | 26,750 | 32,173 | 19,880 |
Interest charges incurred | 433,216 | 511,857 | 541,374 |
Cash paid for interest | $ 471,700 | $ 521,600 | $ 476,900 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - USD ($) | 1 Months Ended | 12 Months Ended | |||||
May 31, 2020 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Oct. 07, 2020 | Aug. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Common stock, shares authorized (in shares) | 300,000,000 | 300,000,000 | |||||
Preferred stock, shares authorized (in shares) | 100,000,000 | 100,000,000 | |||||
Preferred stock, shares issued (in shares) | 0 | 0 | |||||
Preferred stock, shares outstanding (in shares) | 0 | 0 | |||||
Issuance of common stock in public offering of common stock, shares (in shares) | 2,587,500 | 2,985,575 | |||||
Issuance of common stock in public offering of common stock, net | $ 1,700,000,000 | $ 1,200,000,000 | |||||
Dividends distributions | $ 936,269,000 | $ 825,893,000 | $ 727,448,000 | ||||
Short term dividend payable | 10,873,000 | 9,029,000 | |||||
Long term dividend payable | 7,947,000 | 7,108,000 | |||||
Special Distribution | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Short term dividend payable | 10,900,000 | 9,000,000 | |||||
Long term dividend payable | $ 7,900,000 | $ 7,100,000 | |||||
2017 ATM Program | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Issuance of common stock in public offering of common stock, shares (in shares) | 930,934 | ||||||
Issuance of common stock in public offering of common stock, net | $ 388,200,000 | ||||||
Sale of stock, equity offering agreement, authorized | $ 750,000,000 | ||||||
2018 ATM Program | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Issuance of common stock in public offering of common stock, shares (in shares) | 415,512 | 903,555 | |||||
Issuance of common stock in public offering of common stock, net | $ 298,300,000 | $ 447,500,000 | |||||
Sale of stock, equity offering agreement, authorized | $ 750,000,000 | ||||||
2020 ATM Program | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Sale of stock, equity offering agreement, authorized | $ 1,500,000,000 | ||||||
Series A | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Preferred stock, shares authorized (in shares) | 25,000,000 | ||||||
Series A-1 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Preferred stock, shares authorized (in shares) | 25,000,000 | ||||||
Undesignated | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Preferred stock, shares authorized (in shares) | 50,000,000 |
Stockholders' Equity - Schedule
Stockholders' Equity - Schedule of Reserve for Authorized but Unissued Shares of Common Stock (Detail) | Dec. 31, 2020shares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Common shares reserved for issuance (in shares) | 8,767,618 |
Common stock options and restricted stock units | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Common shares reserved for issuance (in shares) | 5,960,946 |
Common stock employee purchase plans | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Common shares reserved for issuance (in shares) | 2,806,672 |
Stockholders' Equity - Componen
Stockholders' Equity - Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | $ 8,840,382 | $ 7,219,279 | $ 6,849,790 |
Other comprehensive income (loss) | 21,302 | 11,070 | (158,389) |
Ending balance | 10,634,118 | 8,840,382 | 7,219,279 |
Adjustment from adoption of new accounting standard | |||
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | (900) | (5,973) | 269,776 |
Ending balance | (900) | (5,973) | |
AOCI | |||
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | (934,613) | (945,702) | (785,189) |
Other comprehensive income (loss) | 21,245 | 11,089 | (158,389) |
Ending balance | (913,368) | (934,613) | (945,702) |
AOCI | Adjustment from adoption of new accounting standard | |||
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | (2,124) | ||
Foreign currency translation adjustment ("CTA") gain (loss) | |||
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | (1,056,918) | (998,603) | (576,860) |
Other comprehensive income (loss) | 548,503 | (58,315) | (421,743) |
Ending balance | (508,415) | (1,056,918) | (998,603) |
Unrealized gain (loss) on cash flow hedges | |||
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | 15,638 | 19,480 | (24,191) |
Other comprehensive income (loss) | (3,842) | 43,671 | |
Ending balance | 15,638 | 19,480 | |
Unrealized gain (loss) on cash flow hedges | |||
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Other comprehensive income (loss) | (82,790) | ||
Ending balance | (67,152) | ||
Net investment hedge CTA gain (loss) | |||
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | 107,619 | 34,325 | (185,303) |
Other comprehensive income (loss) | (444,553) | 73,294 | 219,628 |
Ending balance | (336,934) | 107,619 | 34,325 |
Unrealized gain (loss) on available for sale securities | |||
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | 0 | 0 | 2,124 |
Other comprehensive income (loss) | 0 | 0 | 0 |
Ending balance | 0 | 0 | 0 |
Unrealized gain (loss) on available for sale securities | Adjustment from adoption of new accounting standard | |||
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | (2,124) | ||
Ending balance | (2,124) | ||
Unrealized gain (loss) on available for sale securities | Adjustment from adoption of new accounting standard | Accounting Standards Update 2016-01 | |||
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | 2,100 | ||
Ending balance | 2,100 | ||
Net actuarial loss on defined benefit plans | |||
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | (952) | (904) | (959) |
Other comprehensive income (loss) | (85) | 48 | (55) |
Ending balance | $ (867) | $ (952) | $ (904) |
Stockholders' Equity - Quarterl
Stockholders' Equity - Quarterly Dividend and Special Distributions (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Equity [Abstract] | |||||||||||||||
Total distribution per share (in dollars per share) | $ 2.660000 | $ 2.660000 | $ 2.660000 | $ 2.660000 | $ 2.460000 | $ 2.460000 | $ 2.460000 | $ 2.460000 | $ 2.280000 | $ 2.280000 | $ 2.280000 | $ 2.280000 | $ 10.640000 | $ 9.840000 | $ 9.120000 |
Nonqualified Ordinary Dividend (in dollars per share) | $ 2.660000 | $ 2.660000 | $ 2.660000 | $ 2.660000 | $ 2.460000 | $ 2.460000 | $ 2.460000 | $ 2.460000 | $ 2.280000 | $ 2.280000 | $ 2.280000 | $ 2.280000 | $ 10.640000 | $ 9.840000 | $ 9.120000 |
Total Distribution Amount | $ 237,010 | $ 236,424 | $ 235,449 | $ 227,386 | $ 209,785 | $ 209,226 | $ 207,949 | $ 198,933 | $ 183,297 | $ 182,304 | $ 181,207 | $ 180,640 | $ 936,269 | $ 825,893 | $ 727,448 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020USD ($)periodshares | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Apr. 23, 2020shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Capitalized stock-based compensation expense | $ 20.3 | $ 9.1 | $ 9.1 | |
Share-based compensation expense not yet recognized | $ 512.9 | |||
Expected recognized period (in years) | 2 years 1 month 17 days | |||
2001 Supplemental Stock Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 4 years | |||
Minimum percentage of fair value of grant | 85.00% | |||
Common stock employee purchase plans | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of purchase price reductions | 15.00% | |||
Number of offering periods | period | 2 | |||
Offering period (in months) | 24 months | |||
Offering interval (in months) | 6 months | |||
Purchase discount from market price (percent) | 85.00% | |||
Number of shares available for grant (in shares) | shares | 2,806,672 | |||
2020 Equity Incentive Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 4 years | |||
Number of shares available for grant (in shares) | shares | 4,623,380 | 4,000,000 | ||
Nonstatutory stock options, restricted shares, restricted stock units and stock appreciation rights | 2020 Equity Incentive Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of fair market value of common stock on the grant date | 85.00% | |||
Incentive stock options | 2020 Equity Incentive Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of fair market value of common stock on the grant date | 100.00% | |||
RSUs | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Restricted stock units vested and released, net | $ 417 | $ 269.1 | $ 249.8 |
Stock-Based Compensation - Shar
Stock-Based Compensation - Shares Reserved (Details) - shares | Dec. 31, 2020 | Apr. 23, 2020 |
2004 Purchase Plan | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares in reserve (in shares) | 5,392,206 | |
Number of shares available for grant (in shares) | 2,806,672 | |
2020 Equity Incentive Plan | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares in reserve (in shares) | 4,687,435 | |
Number of shares available for grant (in shares) | 4,623,380 | 4,000,000 |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Restricted Stock Unit Activity (Detail) - RSUs - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Restricted stock units outstanding, beginning balance (in shares) | 1,312,725 | 1,226,787 | 1,303,891 |
Restricted stock units granted (in shares) | 695,383 | 779,478 | 704,249 |
Restricted stock units released, vested (in shares) | (606,250) | (549,259) | (593,528) |
Special distribution shares released (in shares) | (722) | (1,781) | (13,880) |
Restricted stock units canceled (in shares) | (63,502) | (142,477) | (173,460) |
Special distribution shares canceled (in shares) | (23) | (485) | |
Restricted stock units outstanding, ending balance (in shares) | 1,337,634 | 1,312,725 | 1,226,787 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |||
Restricted stock units outstanding, weighted-average grant date fair value, beginning balance (in dollars per share) | $ 411.99 | $ 361.22 | $ 252.30 |
Restricted stock units granted, weighted-average grant date fair value (in dollars per share) | 596.80 | 448.16 | 387.31 |
Restricted stock units released, vested, weighted-average grant date fair value (in dollars per share) | 426.03 | 362.66 | 299.07 |
Special distribution shares released, weighted-average grant date fair value (in dollars per share) | 264.57 | 295.31 | 283.14 |
Restricted stock units canceled, weighted-average grant date fair value (in dollars per share) | 457.91 | 364.42 | 336.75 |
Special distribution shares canceled, weighted-average grant date fair value (in dollars per share) | 297.04 | 295.77 | |
Restricted stock units outstanding, weighted-average grant date fair value, ending balance (in dollars per share) | $ 499.60 | $ 411.99 | $ 361.22 |
Restricted stock units outstanding, weighted-average remaining contractual life (years) | 1 year 2 months 19 days | ||
Restricted stock units outstanding, aggregate intrinsic value | $ 955,311 |
Stock-Based Compensation - Disc
Stock-Based Compensation - Disclosures for 2004 Purchase Plan (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Payment Arrangement [Abstract] | |||
Weighted-average purchase price per share (in dollars per share) | $ 371.71 | $ 354.72 | $ 341.48 |
Weighted-average grant date fair value per share (in dollars per share) | $ 114.08 | $ 104.84 | $ 90.04 |
Number of shares purchased (in shares) | 167,113 | 146,640 | 145,346 |
Stock-Based Compensation - Assu
Stock-Based Compensation - Assumptions in Computation of Fair Value (Detail) - Employee stock purchase plan | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted-average expected volatility | 32.94% | 22.95% | 20.74% |
Weighted average expected life (in years) | 1 year 4 months 9 days | 1 year 2 months 26 days | 1 year 5 months 4 days |
Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Range of dividend yield | 1.94% | 2.07% | 1.97% |
Range of risk-free interest rate | 0.10% | 1.55% | 1.79% |
Range of expected volatility | 19.28% | 19.27% | 19.04% |
Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Range of dividend yield | 2.08% | 2.09% | 2.00% |
Range of risk-free interest rate | 1.55% | 2.58% | 2.68% |
Range of expected volatility | 51.93% | 25.55% | 24.33% |
Stock-Based Compensation - Stoc
Stock-Based Compensation - Stock-Based Compensation Expense Recognized in Company's Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |||
May 31, 2020 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||||
Stock-based compensation expense | $ 311,020 | $ 236,539 | $ 180,716 | ||
Issuance of common stock (in shares) | 2,587,500 | 2,985,575 | |||
RSUs | |||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||||
Stock-based compensation expense | 289,426 | 217,541 | 165,141 | ||
RSAs | |||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||||
Stock-based compensation expense | $ 8,289 | 0 | 0 | ||
Issuance of common stock (in shares) | 48,799 | ||||
Employee stock purchase plan | |||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||||
Stock-based compensation expense | $ 13,305 | 18,998 | 15,575 | ||
Cost of revenues | |||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||||
Stock-based compensation expense | 32,893 | 25,355 | 18,247 | ||
Sales and marketing | |||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||||
Stock-based compensation expense | 72,895 | 56,719 | 53,448 | ||
General and administrative | |||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||||
Stock-based compensation expense | $ 205,232 | $ 154,465 | $ 109,021 |
Income Taxes - Income from Cont
Income Taxes - Income from Continuing Operations before Income Taxes Attributable to Geographic Locations (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Domestic | $ 18,395 | $ 328,806 | $ 298,009 |
Foreign | 497,830 | 363,791 | 135,029 |
Income before income taxes | $ 516,225 | $ 692,597 | $ 433,038 |
Income Taxes - Components of Ta
Income Taxes - Components of Tax Benefit (Expenses) for Income Taxes from Continuing Operations (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Current: | |||
Federal | $ 4,552 | $ (17,906) | $ 7,085 |
State and local | 1,597 | (4,624) | (2,663) |
Foreign | (171,092) | (135,356) | (118,175) |
Subtotal | (164,943) | (157,886) | (113,753) |
Deferred: | |||
Federal | 16,553 | (7,459) | (27,874) |
State and local | 704 | (1,775) | (1,165) |
Foreign | 1,535 | (18,232) | 75,113 |
Subtotal | 18,792 | (27,466) | 46,074 |
Income tax expense | $ (146,151) | $ (185,352) | $ (67,679) |
Income Taxes - Income Tax Recon
Income Taxes - Income Tax Reconciliation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | |||
Federal tax at statutory rate | $ (109,906) | $ (145,445) | $ (90,938) |
State and local tax (expense) benefit | 2,071 | (5,852) | (3,616) |
Deferred tax assets generated in current year not benefited | (12,852) | (5,398) | (3,777) |
Foreign income tax rate differential | (16,364) | (11,610) | (4,072) |
Non-deductible expenses | (4,427) | (1,021) | (756) |
Stock-based compensation expense | (954) | (2,105) | (2,308) |
Change in valuation allowance | 390 | (2,870) | 38,684 |
Foreign financing activities | (11,743) | (18,738) | (17,548) |
Loss on divestments | 0 | (3,277) | 0 |
Uncertain tax positions reserve | (38,014) | (35,724) | (20,440) |
Tax adjustments related to REIT | 50,107 | 63,614 | 32,189 |
Change in deferred tax adjustments | (136) | (10,574) | 0 |
Other, net | (4,323) | (6,352) | 4,903 |
Income tax expense | $ (146,151) | $ (185,352) | $ (67,679) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Income Tax Contingency [Line Items] | |||
Unrecognized tax benefits that would impact effective tax rate | $ 207.8 | ||
Tax basis of REIT assets in excess of balance sheet | 2,000 | ||
Tax credit carryforward | 8.3 | ||
Unrecognized tax benefits, interest and penalties accrued | 21.3 | $ 14.2 | $ 8.4 |
Capital Loss Carryforward | |||
Income Tax Contingency [Line Items] | |||
Tax credit carryforward | 8 | ||
Indemnification of officers and directors | |||
Income Tax Contingency [Line Items] | |||
Unrecognized tax benefits that would impact effective tax rate | $ 33.8 |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred tax assets: | ||||
Stock-based compensation expense | $ 5,583 | $ 2,675 | ||
Unrealized losses | 17,268 | 6,492 | ||
Lease liabilities | 214,560 | 189,951 | ||
Loss carryforwards and tax credits | 117,150 | 59,735 | ||
Others, net | 14,976 | 8,500 | ||
Gross deferred tax assets | 369,537 | 267,353 | ||
Valuation allowance | (82,344) | (57,812) | $ (57,003) | $ (84,573) |
Total deferred tax assets, net | 287,193 | 209,541 | ||
Deferred tax liabilities: | ||||
Property, plant and equipment | (346,916) | (271,262) | ||
Deferred income | (31,538) | (5,248) | ||
Intangible assets | (132,681) | (144,404) | ||
Total deferred tax liabilities | (511,135) | (420,914) | ||
Net deferred tax liabilities | $ (223,942) | $ (211,373) |
Income Taxes - Changes in Valua
Income Taxes - Changes in Valuation Allowance for Deferred Tax Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred Tax Assets, Valuation Allowance [Roll Forward] | |||
Beginning balance | $ 57,812 | $ 57,003 | $ 84,573 |
Amounts from acquisitions | 5,777 | (2,707) | 33,070 |
Divested balances | 0 | (351) | 0 |
Amounts recognized into income | (390) | 2,870 | (38,684) |
Current increase (decrease) | 15,044 | 697 | (13,086) |
Impact of foreign currency exchange | 4,101 | 300 | (8,870) |
Ending balance | $ 82,344 | $ 57,812 | $ 57,003 |
Income Taxes - Schedule of Net
Income Taxes - Schedule of Net Operating Loss Carryforwards (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | $ 858,063 |
2020 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 111,615 |
2022 to 2024 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 64,656 |
2025 to 2027 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 47,566 |
2028 to 2030 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 32,393 |
2031 to 2033 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 767 |
2034 to 2036 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 10,141 |
Thereafter | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 590,925 |
Federal | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 326,608 |
Net operating loss carryforwards that will not be available to offset | 165,100 |
Federal | 2020 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 110,035 |
Federal | 2022 to 2024 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 46,827 |
Federal | 2025 to 2027 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 13,005 |
Federal | 2028 to 2030 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 0 |
Federal | 2031 to 2033 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 0 |
Federal | 2034 to 2036 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 4,246 |
Federal | Thereafter | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 152,495 |
State | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 41,784 |
State | 2020 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 0 |
State | 2022 to 2024 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 0 |
State | 2025 to 2027 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 0 |
State | 2028 to 2030 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 0 |
State | 2031 to 2033 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 767 |
State | 2034 to 2036 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 2,088 |
State | Thereafter | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 38,929 |
Foreign | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 489,671 |
Foreign | 2020 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 1,580 |
Foreign | 2022 to 2024 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 17,829 |
Foreign | 2025 to 2027 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 34,561 |
Foreign | 2028 to 2030 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 32,393 |
Foreign | 2031 to 2033 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 0 |
Foreign | 2034 to 2036 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 3,807 |
Foreign | Thereafter | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | $ 399,501 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Beginning balance | $ 173,726 | $ 150,930 | $ 82,390 |
Gross increases related to prior year tax positions | 14,732 | 0 | 33,436 |
Gross decreases related to prior year tax positions | 0 | (1,160) | 0 |
Gross increases related to current year tax positions | 29,149 | 31,332 | 48,685 |
Decreases resulting from expiration of statute of limitation | (6,518) | (2,112) | (1,276) |
Decreases resulting from settlements | (3,330) | (5,264) | (12,305) |
Ending balance | $ 207,759 | $ 173,726 | $ 150,930 |
Commitments and Contingencies (
Commitments and Contingencies (Detail) - Dec. 31, 2020 € in Millions, £ in Millions | EUR (€)claim | GBP (£)claim | USD ($)claim |
Other Commitments [Line Items] | |||
Lease commitment | $ 684,100,000 | ||
Number of pending claims | claim | 0 | 0 | 0 |
Severance payment percent, scenario one | 100.00% | 100.00% | 100.00% |
Severance payment percent, scenario two | 200.00% | 200.00% | 200.00% |
Severance payment percent, scenario three | 200.00% | 200.00% | 200.00% |
Indemnification of officers and directors | |||
Other Commitments [Line Items] | |||
Liabilities under guarantor agreements | $ 0 | ||
General indemnification | |||
Other Commitments [Line Items] | |||
Liabilities under guarantor agreements | 0 | ||
Indemnification of business partners | |||
Other Commitments [Line Items] | |||
Liabilities under guarantor agreements | 0 | ||
Capital expenditures | |||
Other Commitments [Line Items] | |||
Purchase commitments | 1,100,000,000 | ||
Miscellaneous purchase commitments | |||
Other Commitments [Line Items] | |||
Purchase commitments | 1,300,000,000 | ||
Equinix, Inc. | EMEA Joint Venture | Equity contribution commitment | |||
Other Commitments [Line Items] | |||
Other commitment | € 13.8 | £ 6.6 | $ 25,800,000 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Details) $ in Thousands, £ in Millions | 12 Months Ended | ||||
Dec. 31, 2020USD ($)renewal_option | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2020GBP (£) | Dec. 31, 2019GBP (£) | |
Related Party Transaction [Line Items] | |||||
Finance lease assets | $ 1,688,032 | $ 1,277,614 | |||
Finance lease liability | 1,922,499 | ||||
Rent expense | 3,020,086 | ||||
Revenue from joint venture | 95,264 | 25,905 | $ 19,439 | ||
EMEA Joint Venture | |||||
Related Party Transaction [Line Items] | |||||
Receivables due from joint venture | 6,500 | 7,200 | |||
Revenue from joint venture | 21,300 | ||||
London 10 Data Center | EMEA Joint Venture | |||||
Related Party Transaction [Line Items] | |||||
Finance lease assets | 127,200 | 136,700 | £ 94.7 | £ 103.2 | |
Finance lease liability | 130,800 | $ 136,700 | 97.3 | £ 103.2 | |
Rent expense | 14,900 | 11.1 | |||
Deferred revenue, lease not yet commenced | $ 17,300 | £ 14.1 | |||
Joint Venture | Frankfurt 2 Data Center | |||||
Related Party Transaction [Line Items] | |||||
Initial lease term | 30 years | 30 years | |||
Number of renewal options | renewal_option | 2 | ||||
Renewal term | 10 years | 10 years |
Related Party Transactions - Ac
Related Party Transactions - Activity of Related Party Transactions (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |||
Revenues | $ 95,264 | $ 25,905 | $ 19,439 |
Costs and services | 10,849 | 15,844 | $ 19,708 |
Accounts receivable | $ 6,519 | 3,345 | |
Accounts payable | $ 800 |
Segment Information - Additiona
Segment Information - Additional Information (Detail) - 12 months ended Dec. 31, 2020 | reporting_segment | segment |
Segment Reporting [Abstract] | ||
Number of reportable segments | 3 | 3 |
Segment Information - Revenue I
Segment Information - Revenue Information by Category (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue from External Customer [Line Items] | |||||||||||
Revenues | $ 1,564,115 | $ 1,519,767 | $ 1,470,121 | $ 1,444,542 | $ 1,417,135 | $ 1,396,810 | $ 1,384,977 | $ 1,363,218 | $ 5,998,545 | $ 5,562,140 | $ 5,071,654 |
Operating segments | Recurring revenues | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 5,658,030 | 5,238,186 | 4,776,502 | ||||||||
Operating segments | Colocation | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 4,259,001 | 4,022,207 | 3,670,171 | ||||||||
Operating segments | Interconnection | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 1,023,258 | 893,589 | 801,965 | ||||||||
Operating segments | Managed infrastructure | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 337,345 | 292,628 | 279,632 | ||||||||
Operating segments | Other | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 38,426 | 29,762 | 24,734 | ||||||||
Operating segments | Non-recurring revenues | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 340,515 | 323,954 | 295,152 | ||||||||
Americas | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 2,707,758 | 2,587,727 | 2,484,734 | ||||||||
Americas | U.S. | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 2,500,000 | 2,400,000 | 2,300,000 | ||||||||
Americas | Operating segments | Recurring revenues | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 2,582,800 | 2,456,368 | 2,357,326 | ||||||||
Americas | Operating segments | Colocation | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 1,820,709 | 1,769,654 | 1,732,998 | ||||||||
Americas | Operating segments | Interconnection | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 622,327 | 576,709 | 532,163 | ||||||||
Americas | Operating segments | Managed infrastructure | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 120,159 | 90,262 | 75,595 | ||||||||
Americas | Operating segments | Other | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 19,605 | 19,743 | 16,570 | ||||||||
Americas | Operating segments | Non-recurring revenues | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 124,958 | 131,359 | 127,408 | ||||||||
EMEA | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 1,996,389 | 1,806,444 | 1,562,637 | ||||||||
EMEA | Operating segments | Recurring revenues | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 1,864,720 | 1,680,746 | 1,467,492 | ||||||||
EMEA | Operating segments | Colocation | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 1,504,770 | 1,395,544 | 1,201,769 | ||||||||
EMEA | Operating segments | Interconnection | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 213,490 | 161,552 | 138,874 | ||||||||
EMEA | Operating segments | Managed infrastructure | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 127,722 | 113,631 | 118,685 | ||||||||
EMEA | Operating segments | Other | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 18,738 | 10,019 | 8,164 | ||||||||
EMEA | Operating segments | Non-recurring revenues | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 131,669 | 125,698 | 95,145 | ||||||||
Asia-Pacific | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 1,294,398 | 1,167,969 | 1,024,283 | ||||||||
Asia-Pacific | Operating segments | Recurring revenues | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 1,210,510 | 1,101,072 | 951,684 | ||||||||
Asia-Pacific | Operating segments | Colocation | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 933,522 | 857,009 | 735,404 | ||||||||
Asia-Pacific | Operating segments | Interconnection | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 187,441 | 155,328 | 130,928 | ||||||||
Asia-Pacific | Operating segments | Managed infrastructure | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 89,464 | 88,735 | 85,352 | ||||||||
Asia-Pacific | Operating segments | Other | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | 83 | 0 | 0 | ||||||||
Asia-Pacific | Operating segments | Non-recurring revenues | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenues | $ 83,888 | $ 66,897 | $ 72,599 |
Segment Information - Schedule
Segment Information - Schedule of Adjusted EBITDA (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Segment Reporting Information [Line Items] | |||
Adjusted EBITDA | $ 2,852,898 | $ 2,687,727 | $ 2,413,240 |
Depreciation, amortization and accretion expense | (1,427,010) | (1,285,296) | (1,226,741) |
Stock-based compensation expense | (311,020) | (236,539) | (180,716) |
Transaction costs | (55,935) | (24,781) | (34,413) |
Impairment charges | (7,306) | (15,790) | 0 |
Gain on asset sales | 1,301 | 44,310 | 6,013 |
Income from operations | 1,052,928 | 1,169,631 | 977,383 |
Americas | |||
Segment Reporting Information [Line Items] | |||
Adjusted EBITDA | 1,186,022 | 1,237,622 | 1,183,831 |
EMEA | |||
Segment Reporting Information [Line Items] | |||
Adjusted EBITDA | 974,246 | 827,980 | 698,280 |
Asia-Pacific | |||
Segment Reporting Information [Line Items] | |||
Adjusted EBITDA | $ 692,630 | $ 622,125 | $ 531,129 |
Segment Information - Segment D
Segment Information - Segment Disclosures (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | $ 1,423,369 | $ 1,284,837 | $ 1,227,489 |
Capital expenditures | 2,282,504 | 2,079,521 | 2,096,174 |
Americas | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | 729,611 | 669,498 | 636,214 |
Capital expenditures | 866,989 | 805,360 | 773,514 |
EMEA | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | 389,332 | 353,765 | 355,895 |
Capital expenditures | 888,239 | 733,326 | 884,790 |
Asia-Pacific | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | 304,426 | 261,574 | 235,380 |
Capital expenditures | $ 527,276 | $ 540,835 | $ 437,870 |
Segment Information - Long-Live
Segment Information - Long-Lived Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Property, plant and equipment, net | $ 14,503,084 | $ 12,152,597 | $ 10,732,909 | $ 11,026,020 |
Americas | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Property, plant and equipment, net | 6,429,861 | 5,400,287 | ||
Americas | U.S. | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Property, plant and equipment, net | 5,200,000 | 4,800,000 | ||
EMEA | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Property, plant and equipment, net | 5,002,271 | 4,051,701 | ||
Asia-Pacific | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Property, plant and equipment, net | $ 3,070,952 | $ 2,700,609 |
Segment Information - Operating
Segment Information - Operating Lease Right-of-Use Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Operating lease right-of-use assets | $ 1,475,057 | $ 1,475,367 | $ 1,468,762 |
Americas | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Operating lease right-of-use assets | 363,515 | 387,598 | |
Americas | U.S. | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Operating lease right-of-use assets | 334,700 | 373,700 | |
EMEA | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Operating lease right-of-use assets | 547,547 | 521,129 | |
Asia-Pacific | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Operating lease right-of-use assets | $ 563,995 | $ 566,640 |
Subsequent Events (Detail)
Subsequent Events (Detail) $ / shares in Units, $ in Thousands | Feb. 10, 2021$ / shares | Oct. 23, 2020USD ($) | Jul. 08, 2020USD ($) | Jan. 02, 2020USD ($) | Dec. 31, 2020USD ($)data_center_site | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Subsequent Event [Line Items] | |||||||
Data centers | data_center_site | 224 | ||||||
Loss on debt extinguishment | $ 145,804 | $ 52,825 | $ 51,377 | ||||
Senior Notes | |||||||
Subsequent Event [Line Items] | |||||||
Loss on debt extinguishment | $ 44,200 | $ 93,500 | 52,900 | ||||
Payments of redemption premium | 29,300 | 77,800 | 43,300 | ||||
Write-off of unamortized debt issuance costs | $ 14,900 | $ 15,700 | $ 9,600 | ||||
Senior Notes | 5.375% Senior Notes Due In 2022 | |||||||
Subsequent Event [Line Items] | |||||||
Debt redemption | $ 343,700 | ||||||
Interest rate (percent) | 5.375% | 5.375% | |||||
Loss on debt extinguishment | $ 5,900 | $ 5,900 | |||||
Payments of redemption premium | 4,600 | 4,600 | |||||
Write-off of unamortized debt issuance costs | $ 1,300 | $ 1,300 | |||||
Subsequent event | |||||||
Subsequent Event [Line Items] | |||||||
Cash dividends declared per share (in dollars per share) | $ / shares | $ 2.87 |
Quarterly Financial Informati_3
Quarterly Financial Information (Unaudited) (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Revenues | $ 1,564,115 | $ 1,519,767 | $ 1,470,121 | $ 1,444,542 | $ 1,417,135 | $ 1,396,810 | $ 1,384,977 | $ 1,363,218 | $ 5,998,545 | $ 5,562,140 | $ 5,071,654 |
Gross profit | 733,380 | 751,788 | 730,777 | 708,260 | 691,499 | 692,471 | 686,798 | 681,188 | |||
Net income attributable to Equinix | $ 50,994 | $ 66,687 | $ 133,304 | $ 118,792 | $ 124,995 | $ 120,850 | $ 143,527 | $ 118,078 | $ 369,777 | $ 507,450 | $ 365,359 |
Earnings per share attributable to Equinix: | |||||||||||
Basic (in dollars per share) | $ 0.57 | $ 0.75 | $ 1.53 | $ 1.39 | $ 1.47 | $ 1.42 | $ 1.70 | $ 1.44 | $ 4.22 | $ 6.03 | $ 4.58 |
Diluted (in dollars per share) | $ 0.57 | $ 0.74 | $ 1.52 | $ 1.38 | $ 1.46 | $ 1.41 | $ 1.69 | $ 1.44 | $ 4.18 | $ 5.99 | $ 4.56 |
Schedule III - Real Estate an_2
Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation, by Property (Detail) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Initial Costs to Company | ||||
Encumbrances | $ 30,310,000 | |||
Land | 598,742,000 | |||
Buildings and Improvements | 4,498,639,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 358,519,000 | |||
Buildings and Improvements | 14,705,885,000 | |||
Total Costs | ||||
Land | 957,261,000 | |||
Buildings and Improvements | 19,204,524,000 | |||
Accumulated Depreciation | (6,399,477,000) | $ (5,329,182,000) | $ (4,517,016,000) | $ (3,980,198,000) |
Taxable basis in aggregate initial cost | 27,200,000,000 | |||
Operating lease | ||||
Total Costs | ||||
Initial cost | 0 | |||
Americas | AT1 ATLANTA (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 149,726,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 149,726,000 | |||
Accumulated Depreciation | (71,990,000) | |||
Americas | AT2 ATLANTA (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 38,752,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 38,752,000 | |||
Accumulated Depreciation | (25,341,000) | |||
Americas | AT3 ATLANTA (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 4,453,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 4,453,000 | |||
Accumulated Depreciation | (2,920,000) | |||
Americas | AT4 ATLANTA (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 5,400,000 | |||
Buildings and Improvements | 20,209,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 19,094,000 | |||
Total Costs | ||||
Land | 5,400,000 | |||
Buildings and Improvements | 39,303,000 | |||
Accumulated Depreciation | (11,019,000) | |||
Americas | AT5 ATLANTA (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 5,011,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 2,085,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 7,096,000 | |||
Accumulated Depreciation | (4,093,000) | |||
Americas | BG1 BOGOTÁ (METRO), COLOMBIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 8,779,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 869,000 | |||
Buildings and Improvements | 6,723,000 | |||
Total Costs | ||||
Land | 869,000 | |||
Buildings and Improvements | 15,502,000 | |||
Accumulated Depreciation | (4,376,000) | |||
Americas | BO1 BOSTON (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 6,128,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 6,128,000 | |||
Accumulated Depreciation | (6,128,000) | |||
Americas | BO2 BOSTON (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 2,500,000 | |||
Buildings and Improvements | 30,383,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 34,228,000 | |||
Total Costs | ||||
Land | 2,500,000 | |||
Buildings and Improvements | 64,611,000 | |||
Accumulated Depreciation | (12,739,000) | |||
Americas | CH1 CHICAGO (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 159,193,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 159,193,000 | |||
Accumulated Depreciation | (101,581,000) | |||
Americas | CH2 CHICAGO (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 115,685,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 115,685,000 | |||
Accumulated Depreciation | (66,162,000) | |||
Americas | CH3 CHICAGO (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 9,759,000 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 351,000 | |||
Buildings and Improvements | 341,835,000 | |||
Total Costs | ||||
Land | 10,110,000 | |||
Buildings and Improvements | 341,835,000 | |||
Accumulated Depreciation | (137,686,000) | |||
Americas | CH4 CHICAGO (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 22,322,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 22,322,000 | |||
Accumulated Depreciation | (13,361,000) | |||
Americas | CH7 CHICAGO (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 670,000 | |||
Buildings and Improvements | 10,564,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 6,790,000 | |||
Total Costs | ||||
Land | 670,000 | |||
Buildings and Improvements | 17,354,000 | |||
Accumulated Depreciation | (5,145,000) | |||
Americas | CL1 CALGARY (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 11,572,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 480,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 12,052,000 | |||
Accumulated Depreciation | (434,000) | |||
Americas | CL2 CALGARY (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 14,145,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 529,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 14,674,000 | |||
Accumulated Depreciation | (765,000) | |||
Americas | CL3 CALGARY (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 7,910,000 | |||
Buildings and Improvements | 69,334,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 327,000 | |||
Buildings and Improvements | 2,954,000 | |||
Total Costs | ||||
Land | 8,237,000 | |||
Buildings and Improvements | 72,288,000 | |||
Accumulated Depreciation | (1,321,000) | |||
Americas | CU1 CULPEPER (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,019,000 | |||
Buildings and Improvements | 37,581,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 4,871,000 | |||
Total Costs | ||||
Land | 1,019,000 | |||
Buildings and Improvements | 42,452,000 | |||
Accumulated Depreciation | (14,421,000) | |||
Americas | CU2 CULPEPER (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,244,000 | |||
Buildings and Improvements | 48,000,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 11,928,000 | |||
Total Costs | ||||
Land | 1,244,000 | |||
Buildings and Improvements | 59,928,000 | |||
Accumulated Depreciation | (15,169,000) | |||
Americas | CU3 CULPEPER (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,088,000 | |||
Buildings and Improvements | 37,387,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 2,521,000 | |||
Total Costs | ||||
Land | 1,088,000 | |||
Buildings and Improvements | 39,908,000 | |||
Accumulated Depreciation | (11,474,000) | |||
Americas | CU4 CULPEPER (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,372,000 | |||
Buildings and Improvements | 27,832,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 34,465,000 | |||
Total Costs | ||||
Land | 1,372,000 | |||
Buildings and Improvements | 62,297,000 | |||
Accumulated Depreciation | (9,689,000) | |||
Americas | DA1 DALLAS (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 66,965,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 66,965,000 | |||
Accumulated Depreciation | (40,362,000) | |||
Americas | DA2 DALLAS (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 81,465,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 81,465,000 | |||
Accumulated Depreciation | (32,195,000) | |||
Americas | DA3 DALLAS (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 97,116,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 97,116,000 | |||
Accumulated Depreciation | (41,659,000) | |||
Americas | DA4 DALLAS (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 16,354,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 16,354,000 | |||
Accumulated Depreciation | (8,639,000) | |||
Americas | DA6 DALLAS (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 20,522,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 169,212,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 189,734,000 | |||
Accumulated Depreciation | (39,429,000) | |||
Americas | DA7 DALLAS (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 30,166,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 30,166,000 | |||
Accumulated Depreciation | (13,438,000) | |||
Americas | DA9 DALLAS (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 610,000 | |||
Buildings and Improvements | 15,398,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 4,922,000 | |||
Total Costs | ||||
Land | 610,000 | |||
Buildings and Improvements | 20,320,000 | |||
Accumulated Depreciation | (6,383,000) | |||
Americas | DA10 DALLAS (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 117,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 4,652,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 4,769,000 | |||
Accumulated Depreciation | (4,509,000) | |||
Americas | DA11 DALLAS (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 149,413,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 149,413,000 | |||
Accumulated Depreciation | (3,357,000) | |||
Americas | INFOMART BUILDING DALLAS (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 24,380,000 | |||
Buildings and Improvements | 337,643,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 3,293,000 | |||
Buildings and Improvements | 19,306,000 | |||
Total Costs | ||||
Land | 27,673,000 | |||
Buildings and Improvements | 356,949,000 | |||
Accumulated Depreciation | (31,254,000) | |||
Americas | DC1 WASHINGTON, DC (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 5,074,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 5,074,000 | |||
Accumulated Depreciation | (1,724,000) | |||
Americas | DC2 WASHINGTON, DC (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 5,047,000 | |||
Buildings and Improvements | 125,215,000 | |||
Total Costs | ||||
Land | 5,047,000 | |||
Buildings and Improvements | 125,215,000 | |||
Accumulated Depreciation | (96,720,000) | |||
Americas | DC3 WASHINGTON, DC (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 37,451,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 48,143,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 85,594,000 | |||
Accumulated Depreciation | (52,185,000) | |||
Americas | DC4 WASHINGTON, DC (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,906,000 | |||
Buildings and Improvements | 7,272,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 72,988,000 | |||
Total Costs | ||||
Land | 1,906,000 | |||
Buildings and Improvements | 80,260,000 | |||
Accumulated Depreciation | (56,626,000) | |||
Americas | DC5 WASHINGTON, DC (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,429,000 | |||
Buildings and Improvements | 4,983,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 91,964,000 | |||
Total Costs | ||||
Land | 1,429,000 | |||
Buildings and Improvements | 96,947,000 | |||
Accumulated Depreciation | (66,813,000) | |||
Americas | DC6 WASHINGTON, DC (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,429,000 | |||
Buildings and Improvements | 5,082,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 91,392,000 | |||
Total Costs | ||||
Land | 1,429,000 | |||
Buildings and Improvements | 96,474,000 | |||
Accumulated Depreciation | (51,457,000) | |||
Americas | DC7 WASHINGTON, DC (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 19,065,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 19,065,000 | |||
Accumulated Depreciation | (13,307,000) | |||
Americas | DC10 WASHINGTON, DC (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 44,601,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 82,413,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 127,014,000 | |||
Accumulated Depreciation | (84,550,000) | |||
Americas | DC11 WASHINGTON, DC (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,429,000 | |||
Buildings and Improvements | 5,082,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 184,646,000 | |||
Total Costs | ||||
Land | 1,429,000 | |||
Buildings and Improvements | 189,728,000 | |||
Accumulated Depreciation | (61,598,000) | |||
Americas | DC12 WASHINGTON, DC (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 101,783,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 79,537,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 181,320,000 | |||
Accumulated Depreciation | (27,546,000) | |||
Americas | DC13 WASHINGTON, DC (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 5,500,000 | |||
Buildings and Improvements | 25,423,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 9,994,000 | |||
Total Costs | ||||
Land | 5,500,000 | |||
Buildings and Improvements | 35,417,000 | |||
Accumulated Depreciation | (12,830,000) | |||
Americas | DC14 WASHINGTON, DC (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 2,560,000 | |||
Buildings and Improvements | 33,511,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 14,108,000 | |||
Total Costs | ||||
Land | 2,560,000 | |||
Buildings and Improvements | 47,619,000 | |||
Accumulated Depreciation | (11,487,000) | |||
Americas | DC15 WASHINGTON, DC (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,965,000 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 119,825,000 | |||
Total Costs | ||||
Land | 1,965,000 | |||
Buildings and Improvements | 119,825,000 | |||
Accumulated Depreciation | (5,662,000) | |||
Americas | DC21 WASHINGTON, DC (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,507,000 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 93,873,000 | |||
Total Costs | ||||
Land | 1,507,000 | |||
Buildings and Improvements | 93,873,000 | |||
Accumulated Depreciation | (740,000) | |||
Americas | DC97 WASHINGTON, DC (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 2,021,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 1,004,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 3,025,000 | |||
Accumulated Depreciation | (1,521,000) | |||
Americas | DE1 DENVER (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 9,721,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 9,721,000 | |||
Accumulated Depreciation | (8,659,000) | |||
Americas | DE2 DENVER (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 5,240,000 | |||
Buildings and Improvements | 23,053,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 29,937,000 | |||
Total Costs | ||||
Land | 5,240,000 | |||
Buildings and Improvements | 52,990,000 | |||
Accumulated Depreciation | (14,648,000) | |||
Americas | HO1 HOUSTON (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,440,000 | |||
Buildings and Improvements | 23,780,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 32,344,000 | |||
Total Costs | ||||
Land | 1,440,000 | |||
Buildings and Improvements | 56,124,000 | |||
Accumulated Depreciation | (14,937,000) | |||
Americas | KA1 KAMLOOPS (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 2,991,000 | |||
Buildings and Improvements | 46,983,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 123,000 | |||
Buildings and Improvements | 1,992,000 | |||
Total Costs | ||||
Land | 3,114,000 | |||
Buildings and Improvements | 48,975,000 | |||
Accumulated Depreciation | (785,000) | |||
Americas | LA1 LOS ANGELES (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 108,749,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 108,749,000 | |||
Accumulated Depreciation | (70,766,000) | |||
Americas | LA2 LOS ANGELES (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 10,610,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 10,610,000 | |||
Accumulated Depreciation | (8,958,000) | |||
Americas | LA3 LOS ANGELES (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 34,727,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 3,959,000 | |||
Buildings and Improvements | 21,167,000 | |||
Total Costs | ||||
Land | 3,959,000 | |||
Buildings and Improvements | 55,894,000 | |||
Accumulated Depreciation | (46,574,000) | |||
Americas | LA4 LOS ANGELES (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 19,333,000 | |||
Buildings and Improvements | 137,630,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 51,824,000 | |||
Total Costs | ||||
Land | 19,333,000 | |||
Buildings and Improvements | 189,454,000 | |||
Accumulated Depreciation | (94,090,000) | |||
Americas | LA7 LOS ANGELES (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 7,800,000 | |||
Buildings and Improvements | 33,621,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 48,002,000 | |||
Total Costs | ||||
Land | 7,800,000 | |||
Buildings and Improvements | 81,623,000 | |||
Accumulated Depreciation | (13,405,000) | |||
Americas | MI1 MIAMI (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 18,920,000 | |||
Buildings and Improvements | 127,194,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 99,480,000 | |||
Total Costs | ||||
Land | 18,920,000 | |||
Buildings and Improvements | 226,674,000 | |||
Accumulated Depreciation | (59,709,000) | |||
Americas | MI2 MIAMI (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 22,581,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 22,581,000 | |||
Accumulated Depreciation | (13,798,000) | |||
Americas | MI3 MIAMI (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 33,162,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 33,162,000 | |||
Accumulated Depreciation | (17,881,000) | |||
Americas | MI6 MIAMI (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 4,750,000 | |||
Buildings and Improvements | 23,017,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 8,943,000 | |||
Total Costs | ||||
Land | 4,750,000 | |||
Buildings and Improvements | 31,960,000 | |||
Accumulated Depreciation | (11,983,000) | |||
Americas | MO1 MONTERREY (METRO), MEXICO | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 2,572,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 3,278,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 5,850,000 | |||
Accumulated Depreciation | (332,000) | |||
Americas | MT1 MONTREAL (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 76,932,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 3,053,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 79,985,000 | |||
Accumulated Depreciation | (1,731,000) | |||
Americas | MX1 MEXICO CITY (METRO), MEXICO | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,090,000 | |||
Buildings and Improvements | 53,980,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 8,685,000 | |||
Total Costs | ||||
Land | 1,090,000 | |||
Buildings and Improvements | 62,665,000 | |||
Accumulated Depreciation | (3,891,000) | |||
Americas | MX2 MEXICO CITY (METRO), MEXICO | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,090,000 | |||
Buildings and Improvements | 16,061,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 11,160,000 | |||
Total Costs | ||||
Land | 1,090,000 | |||
Buildings and Improvements | 27,221,000 | |||
Accumulated Depreciation | (896,000) | |||
Americas | NY1 NEW YORK (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 71,191,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 71,191,000 | |||
Accumulated Depreciation | (44,088,000) | |||
Americas | NY2 NEW YORK (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 17,859,000 | |||
Buildings and Improvements | 205,092,000 | |||
Total Costs | ||||
Land | 17,859,000 | |||
Buildings and Improvements | 205,092,000 | |||
Accumulated Depreciation | (131,644,000) | |||
Americas | NY4 NEW YORK (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 355,278,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 355,278,000 | |||
Accumulated Depreciation | (199,915,000) | |||
Americas | NY5 NEW YORK (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 277,162,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 277,162,000 | |||
Accumulated Depreciation | (82,406,000) | |||
Americas | NY6 NEW YORK (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 69,925,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 69,925,000 | |||
Accumulated Depreciation | (15,436,000) | |||
Americas | NY7 NEW YORK (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 24,660,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 168,391,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 193,051,000 | |||
Accumulated Depreciation | (133,370,000) | |||
Americas | NY8 NEW YORK (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 11,461,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 11,461,000 | |||
Accumulated Depreciation | (8,879,000) | |||
Americas | NY9 NEW YORK (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 50,566,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 50,566,000 | |||
Accumulated Depreciation | (35,782,000) | |||
Americas | NY11 NEW YORK (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 2,050,000 | |||
Buildings and Improvements | 58,717,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 13,134,000 | |||
Total Costs | ||||
Land | 2,050,000 | |||
Buildings and Improvements | 71,851,000 | |||
Accumulated Depreciation | (23,545,000) | |||
Americas | NY13 NEW YORK (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 31,603,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 6,488,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 38,091,000 | |||
Accumulated Depreciation | (14,966,000) | |||
Americas | OT1 OTTAWA (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,586,000 | |||
Buildings and Improvements | 39,128,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 61,000 | |||
Buildings and Improvements | 1,664,000 | |||
Total Costs | ||||
Land | 1,647,000 | |||
Buildings and Improvements | 40,792,000 | |||
Accumulated Depreciation | (688,000) | |||
Americas | PH1 PHILADELPHIA (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 44,037,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 44,037,000 | |||
Accumulated Depreciation | (18,883,000) | |||
Americas | RJ1 RIO DE JANEIRO (METRO), BRAZIL | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 17,456,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 17,456,000 | |||
Accumulated Depreciation | (13,090,000) | |||
Americas | RJ2 RIO DE JANEIRO (METRO), BRAZIL | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 2,012,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 1,267,000 | |||
Buildings and Improvements | 52,127,000 | |||
Total Costs | ||||
Land | 1,267,000 | |||
Buildings and Improvements | 54,139,000 | |||
Accumulated Depreciation | (17,571,000) | |||
Americas | SJ1 SAINT JOHN (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 162,000 | |||
Buildings and Improvements | 14,276,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 7,000 | |||
Buildings and Improvements | 591,000 | |||
Total Costs | ||||
Land | 169,000 | |||
Buildings and Improvements | 14,867,000 | |||
Accumulated Depreciation | (305,000) | |||
Americas | SE2 SEATTLE (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 30,454,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 30,454,000 | |||
Accumulated Depreciation | (23,345,000) | |||
Americas | SE3 SEATTLE (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 1,760,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 99,988,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 101,748,000 | |||
Accumulated Depreciation | (56,100,000) | |||
Americas | SE4 SEATTLE (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 4,000,000 | |||
Buildings and Improvements | 12,903,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 34,330,000 | |||
Total Costs | ||||
Land | 4,000,000 | |||
Buildings and Improvements | 47,233,000 | |||
Accumulated Depreciation | (8,025,000) | |||
Americas | SP1 SÃO PAULO (METRO), BRAZIL | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 10,188,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 15,875,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 26,063,000 | |||
Accumulated Depreciation | (21,018,000) | |||
Americas | SP2 SÃO PAULO (METRO), BRAZIL | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 3,083,000 | |||
Buildings and Improvements | 53,322,000 | |||
Total Costs | ||||
Land | 3,083,000 | |||
Buildings and Improvements | 53,322,000 | |||
Accumulated Depreciation | (41,337,000) | |||
Americas | SP3 SÃO PAULO (METRO), BRAZIL | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 7,748,000 | |||
Buildings and Improvements | 72,997,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 46,935,000 | |||
Total Costs | ||||
Land | 7,748,000 | |||
Buildings and Improvements | 119,932,000 | |||
Accumulated Depreciation | (26,368,000) | |||
Americas | SP4 SÃO PAULO (METRO), BRAZIL | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 22,027,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 50,707,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 72,734,000 | |||
Accumulated Depreciation | (8,830,000) | |||
Americas | SP5 SÃO PAULO (METRO), BRAZIL | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 4,597,000 | |||
Buildings and Improvements | 37,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 4,432,000 | |||
Total Costs | ||||
Land | 4,597,000 | |||
Buildings and Improvements | 4,469,000 | |||
Accumulated Depreciation | (3,000) | |||
Americas | SV1 SILICON VALLEY (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 15,545,000 | |||
Buildings and Improvements | 143,123,000 | |||
Total Costs | ||||
Land | 15,545,000 | |||
Buildings and Improvements | 143,123,000 | |||
Accumulated Depreciation | (96,427,000) | |||
Americas | SV2 SILICON VALLEY (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 151,960,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 151,960,000 | |||
Accumulated Depreciation | (92,409,000) | |||
Americas | SV3 SILICON VALLEY (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 77,801,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 77,801,000 | |||
Accumulated Depreciation | (38,319,000) | |||
Americas | SV4 SILICON VALLEY (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 90,876,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 90,876,000 | |||
Accumulated Depreciation | (26,253,000) | |||
Americas | SV5 SILICON VALLEY (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 6,238,000 | |||
Buildings and Improvements | 98,991,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 99,539,000 | |||
Total Costs | ||||
Land | 6,238,000 | |||
Buildings and Improvements | 198,530,000 | |||
Accumulated Depreciation | (82,024,000) | |||
Americas | SV6 SILICON VALLEY (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 15,585,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 29,618,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 45,203,000 | |||
Accumulated Depreciation | (37,953,000) | |||
Americas | SV8 SILICON VALLEY (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 54,166,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 54,166,000 | |||
Accumulated Depreciation | (35,901,000) | |||
Americas | SV10 SILICON VALLEY (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 12,646,000 | |||
Buildings and Improvements | 123,594,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 92,145,000 | |||
Total Costs | ||||
Land | 12,646,000 | |||
Buildings and Improvements | 215,739,000 | |||
Accumulated Depreciation | (31,147,000) | |||
Americas | SV11 SILICON VALLEY (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 88,914,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 88,914,000 | |||
Accumulated Depreciation | 0 | |||
Americas | SV12 SILICON VALLEY (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 20,313,000 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 8,240,000 | |||
Total Costs | ||||
Land | 20,313,000 | |||
Buildings and Improvements | 8,240,000 | |||
Accumulated Depreciation | 0 | |||
Americas | SV13 SILICON VALLEY (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 3,828,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 117,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 3,945,000 | |||
Accumulated Depreciation | (3,016,000) | |||
Americas | SV14 SILICON VALLEY (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 3,638,000 | |||
Buildings and Improvements | 5,503,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 3,807,000 | |||
Total Costs | ||||
Land | 3,638,000 | |||
Buildings and Improvements | 9,310,000 | |||
Accumulated Depreciation | (2,503,000) | |||
Americas | SV15 SILICON VALLEY (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 7,651,000 | |||
Buildings and Improvements | 23,060,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 3,710,000 | |||
Total Costs | ||||
Land | 7,651,000 | |||
Buildings and Improvements | 26,770,000 | |||
Accumulated Depreciation | (8,071,000) | |||
Americas | SV16 SILICON VALLEY (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 4,271,000 | |||
Buildings and Improvements | 15,018,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 1,753,000 | |||
Total Costs | ||||
Land | 4,271,000 | |||
Buildings and Improvements | 16,771,000 | |||
Accumulated Depreciation | (5,408,000) | |||
Americas | SV17 SILICON VALLEY (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 17,493,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 3,340,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 20,833,000 | |||
Accumulated Depreciation | (13,269,000) | |||
Americas | TR1 TORONTO (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 91,618,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 91,618,000 | |||
Accumulated Depreciation | (34,280,000) | |||
Americas | TR2 TORONTO (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 21,113,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 106,171,000 | |||
Buildings and Improvements | 135,300,000 | |||
Total Costs | ||||
Land | 106,171,000 | |||
Buildings and Improvements | 156,413,000 | |||
Accumulated Depreciation | (25,566,000) | |||
Americas | TR4 TORONTO (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 13,985,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 593,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 14,578,000 | |||
Accumulated Depreciation | (954,000) | |||
Americas | TR5 MARKHAM (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 24,913,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 798,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 25,711,000 | |||
Accumulated Depreciation | (1,020,000) | |||
Americas | TR6 BRAMPTON (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 9,386,000 | |||
Buildings and Improvements | 60,806,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 388,000 | |||
Buildings and Improvements | 2,516,000 | |||
Total Costs | ||||
Land | 9,774,000 | |||
Buildings and Improvements | 63,322,000 | |||
Accumulated Depreciation | (831,000) | |||
Americas | TR7 BRAMPTON (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 12,098,000 | |||
Buildings and Improvements | 71,966,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 500,000 | |||
Buildings and Improvements | 3,041,000 | |||
Total Costs | ||||
Land | 12,598,000 | |||
Buildings and Improvements | 75,007,000 | |||
Accumulated Depreciation | (1,462,000) | |||
Americas | VA1 BURNABY (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 4,668,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 193,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 4,861,000 | |||
Accumulated Depreciation | (113,000) | |||
Americas | WI1 WINNIPEG (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 57,234,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 1,048,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 58,282,000 | |||
Accumulated Depreciation | (441,000) | |||
Americas | OTHERS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 80,313,000 | |||
Buildings and Improvements | 49,891,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 1,805,000 | |||
Buildings and Improvements | 39,954,000 | |||
Total Costs | ||||
Land | 82,118,000 | |||
Buildings and Improvements | 89,845,000 | |||
Accumulated Depreciation | (11,430,000) | |||
EMEA | OTHERS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 48,761,000 | |||
Buildings and Improvements | 18,735,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 28,924,000 | |||
Buildings and Improvements | 61,859,000 | |||
Total Costs | ||||
Land | 77,685,000 | |||
Buildings and Improvements | 80,594,000 | |||
Accumulated Depreciation | (5,745,000) | |||
EMEA | AD1 ABU DHABI (METRO), UNITED ARAB EMIRATES | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 74,541,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 74,541,000 | |||
Accumulated Depreciation | (4,350,000) | |||
EMEA | AM1 AMSTERDAM (METRO), THE NETHERLANDS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 102,173,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 102,173,000 | |||
Accumulated Depreciation | (52,121,000) | |||
EMEA | AM2 AMSTERDAM (METRO), THE NETHERLANDS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 91,788,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 91,788,000 | |||
Accumulated Depreciation | (37,165,000) | |||
EMEA | AM3 AMSTERDAM (METRO), THE NETHERLANDS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 27,099,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 143,882,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 170,981,000 | |||
Accumulated Depreciation | (66,656,000) | |||
EMEA | AM4 AMSTERDAM (METRO), THE NETHERLANDS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 236,429,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 236,429,000 | |||
Accumulated Depreciation | (26,431,000) | |||
EMEA | AM5 AMSTERDAM (METRO), THE NETHERLANDS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 92,199,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 23,456,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 115,655,000 | |||
Accumulated Depreciation | (34,479,000) | |||
EMEA | AM6 AMSTERDAM (METRO), THE NETHERLANDS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 6,616,000 | |||
Buildings and Improvements | 50,876,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 1,066,000 | |||
Buildings and Improvements | 97,923,000 | |||
Total Costs | ||||
Land | 7,682,000 | |||
Buildings and Improvements | 148,799,000 | |||
Accumulated Depreciation | (27,059,000) | |||
EMEA | AM7 AMSTERDAM (METRO), THE NETHERLANDS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 7,397,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 125,527,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 132,924,000 | |||
Accumulated Depreciation | (12,374,000) | |||
EMEA | AM8 AMSTERDAM (METRO), THE NETHERLANDS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 12,328,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 12,328,000 | |||
Accumulated Depreciation | (5,609,000) | |||
EMEA | AM11 AMSTERDAM (METRO), THE NETHERLANDS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 6,405,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 447,000 | |||
Buildings and Improvements | 12,573,000 | |||
Total Costs | ||||
Land | 447,000 | |||
Buildings and Improvements | 18,978,000 | |||
Accumulated Depreciation | (1,307,000) | |||
EMEA | BA1 BARCELONA (METRO), SPAIN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 9,443,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 12,344,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 21,787,000 | |||
Accumulated Depreciation | (6,694,000) | |||
EMEA | BX1 BORDEAUX (METRO), FRANCE | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,916,000 | |||
Buildings and Improvements | 3,507,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 168,000 | |||
Buildings and Improvements | 13,607,000 | |||
Total Costs | ||||
Land | 2,084,000 | |||
Buildings and Improvements | 17,114,000 | |||
Accumulated Depreciation | (169,000) | |||
EMEA | DB1 DUBLIN (METRO), IRELAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 5,000,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 5,000,000 | |||
Accumulated Depreciation | (3,928,000) | |||
EMEA | DB2 DUBLIN (METRO), IRELAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 12,460,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 7,308,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 19,768,000 | |||
Accumulated Depreciation | (9,220,000) | |||
EMEA | DB3 DUBLIN (METRO), IRELAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 3,334,000 | |||
Buildings and Improvements | 54,387,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 537,000 | |||
Buildings and Improvements | 22,764,000 | |||
Total Costs | ||||
Land | 3,871,000 | |||
Buildings and Improvements | 77,151,000 | |||
Accumulated Depreciation | (21,084,000) | |||
EMEA | DB4 DUBLIN (METRO), IRELAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 26,875,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 19,562,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 46,437,000 | |||
Accumulated Depreciation | (9,564,000) | |||
EMEA | DU1 DÜSSELDORF (METRO), GERMANY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 8,841,000 | |||
Buildings and Improvements | 33,851,000 | |||
Total Costs | ||||
Land | 8,841,000 | |||
Buildings and Improvements | 33,851,000 | |||
Accumulated Depreciation | (20,737,000) | |||
EMEA | DX1 DUBAI (METRO), UNITED ARAB EMIRATES | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 93,373,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 93,373,000 | |||
Accumulated Depreciation | (33,359,000) | |||
EMEA | DX2 DUBAI (METRO), UNITED ARAB EMIRATES | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 645,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 645,000 | |||
Accumulated Depreciation | (256,000) | |||
EMEA | DX3 DUBAI (METRO), UNITED ARAB EMIRATES | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 6,737,000 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 61,000 | |||
Total Costs | ||||
Land | 6,737,000 | |||
Buildings and Improvements | 61,000 | |||
Accumulated Depreciation | (151,000) | |||
EMEA | EN1 ENSCHEDE (METRO), THE NETHERLANDS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 35,366,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 35,366,000 | |||
Accumulated Depreciation | (25,788,000) | |||
EMEA | FR1 FRANKFURT (METRO), GERMANY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 4,529,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 4,529,000 | |||
Accumulated Depreciation | (4,214,000) | |||
EMEA | FR2 FRANKFURT (METRO), GERMANY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 15,840,000 | |||
Buildings and Improvements | 555,694,000 | |||
Total Costs | ||||
Land | 15,840,000 | |||
Buildings and Improvements | 555,694,000 | |||
Accumulated Depreciation | (161,968,000) | |||
EMEA | FR4 FRANKFURT (METRO), GERMANY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 11,578,000 | |||
Buildings and Improvements | 9,307,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 1,865,000 | |||
Buildings and Improvements | 97,862,000 | |||
Total Costs | ||||
Land | 13,443,000 | |||
Buildings and Improvements | 107,169,000 | |||
Accumulated Depreciation | (36,277,000) | |||
EMEA | FR5 FRANKFURT (METRO), GERMANY | ||||
Initial Costs to Company | ||||
Encumbrances | 30,310,000 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 15,256,000 | |||
Buildings and Improvements | 228,532,000 | |||
Total Costs | ||||
Land | 15,256,000 | |||
Buildings and Improvements | 228,532,000 | |||
Accumulated Depreciation | (53,688,000) | |||
EMEA | FR6 FRANKFURT (METRO), GERMANY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 150,011,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 150,011,000 | |||
Accumulated Depreciation | (26,802,000) | |||
EMEA | FR7 FRANKFURT (METRO), GERMANY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 43,634,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 40,046,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 83,680,000 | |||
Accumulated Depreciation | (26,695,000) | |||
EMEA | FR8 FRANKFURT (METRO), GERMANY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 21,934,000 | |||
Buildings and Improvements | 58,199,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Total Costs | ||||
Land | 21,934,000 | |||
Buildings and Improvements | 58,199,000 | |||
Accumulated Depreciation | (224,000) | |||
EMEA | FR9x FRANKFURT (METRO), GERMANY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 41,714,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 41,714,000 | |||
Accumulated Depreciation | 0 | |||
EMEA | FR11x FRANKFURT (METRO), GERMANY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 15,303,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 15,303,000 | |||
Accumulated Depreciation | 0 | |||
EMEA | GN1 GENOA (METRO), ITALY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,988,000 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 1,123,000 | |||
Total Costs | ||||
Land | 1,988,000 | |||
Buildings and Improvements | 1,123,000 | |||
Accumulated Depreciation | 0 | |||
EMEA | GV1 GENEVA (METRO), SWITZERLAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 25,771,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 25,771,000 | |||
Accumulated Depreciation | (4,978,000) | |||
EMEA | GV2 GENEVA (METRO), SWITZERLAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 27,883,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 27,883,000 | |||
Accumulated Depreciation | (23,289,000) | |||
EMEA | HE1 HELSINKI (METRO), FINLAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 4,212,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 4,212,000 | |||
Accumulated Depreciation | (3,462,000) | |||
EMEA | HE3 HELSINKI (METRO), FINLAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 15,829,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 15,829,000 | |||
Accumulated Depreciation | (9,926,000) | |||
EMEA | HE4 HELSINKI (METRO), FINLAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 29,092,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 9,694,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 38,786,000 | |||
Accumulated Depreciation | (18,078,000) | |||
EMEA | HE5 HELSINKI (METRO), FINLAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 7,564,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 18,302,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 25,866,000 | |||
Accumulated Depreciation | (5,020,000) | |||
EMEA | HE6 HELSINKI (METRO), FINLAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 17,204,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 1,711,000 | |||
Buildings and Improvements | 31,603,000 | |||
Total Costs | ||||
Land | 1,711,000 | |||
Buildings and Improvements | 48,807,000 | |||
Accumulated Depreciation | (13,254,000) | |||
EMEA | HE7 HELSINKI (METRO), FINLAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 7,348,000 | |||
Buildings and Improvements | 6,946,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 1,765,000 | |||
Buildings and Improvements | 42,184,000 | |||
Total Costs | ||||
Land | 9,113,000 | |||
Buildings and Improvements | 49,130,000 | |||
Accumulated Depreciation | (3,160,000) | |||
EMEA | HH1 HAMBURG (METRO), GERMANY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 3,612,000 | |||
Buildings and Improvements | 5,360,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 921,000 | |||
Buildings and Improvements | 46,485,000 | |||
Total Costs | ||||
Land | 4,533,000 | |||
Buildings and Improvements | 51,845,000 | |||
Accumulated Depreciation | (1,988,000) | |||
EMEA | IL2 ISTANBUL (METRO), TURKEY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 14,460,000 | |||
Buildings and Improvements | 39,289,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 19,344,000 | |||
Total Costs | ||||
Land | 14,460,000 | |||
Buildings and Improvements | 58,633,000 | |||
Accumulated Depreciation | (7,346,000) | |||
EMEA | LD3 LONDON (METRO), UNITED KINGDOM | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 18,023,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 18,023,000 | |||
Accumulated Depreciation | (17,772,000) | |||
EMEA | LD4 LONDON (METRO), UNITED KINGDOM | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 23,044,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 2,000 | |||
Buildings and Improvements | 134,786,000 | |||
Total Costs | ||||
Land | 2,000 | |||
Buildings and Improvements | 157,830,000 | |||
Accumulated Depreciation | (52,213,000) | |||
EMEA | LD5 LONDON (METRO), UNITED KINGDOM | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 16,412,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 189,038,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 205,450,000 | |||
Accumulated Depreciation | (100,960,000) | |||
EMEA | LD6 LONDON (METRO), UNITED KINGDOM | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 148,540,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 148,540,000 | |||
Accumulated Depreciation | (36,792,000) | |||
EMEA | LD7 LONDON (METRO), UNITED KINGDOM | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 2,295,000 | |||
Buildings and Improvements | 191,545,000 | |||
Total Costs | ||||
Land | 2,295,000 | |||
Buildings and Improvements | 191,545,000 | |||
Accumulated Depreciation | (9,192,000) | |||
EMEA | LD8 LONDON (METRO), UNITED KINGDOM | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 107,544,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 62,258,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 169,802,000 | |||
Accumulated Depreciation | (49,894,000) | |||
EMEA | LD9 LONDON (METRO), UNITED KINGDOM | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 181,431,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 168,666,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 350,097,000 | |||
Accumulated Depreciation | (80,850,000) | |||
EMEA | LD10 LONDON (METRO), UNITED KINGDOM | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 40,251,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 104,869,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 145,120,000 | |||
Accumulated Depreciation | (13,014,000) | |||
EMEA | LS1 LISBON (METRO), PORTUGAL | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 7,374,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 3,776,000 | |||
Buildings and Improvements | 9,859,000 | |||
Total Costs | ||||
Land | 3,776,000 | |||
Buildings and Improvements | 17,233,000 | |||
Accumulated Depreciation | (3,607,000) | |||
EMEA | MA1 MANCHESTER (METRO), UNITED KINGDOM | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 14,532,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 14,532,000 | |||
Accumulated Depreciation | (6,536,000) | |||
EMEA | MA2 MANCHESTER (METRO), UNITED KINGDOM | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 15,828,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 15,828,000 | |||
Accumulated Depreciation | (7,793,000) | |||
EMEA | MA3 MANCHESTER (METRO), UNITED KINGDOM | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 44,931,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 9,328,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 54,259,000 | |||
Accumulated Depreciation | (26,170,000) | |||
EMEA | MA4 MANCHESTER (METRO), UNITED KINGDOM | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 6,697,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 5,331,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 12,028,000 | |||
Accumulated Depreciation | (8,813,000) | |||
EMEA | MA5 MANCHESTER (METRO), UNITED KINGDOM | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 3,706,000 | |||
Buildings and Improvements | 6,874,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 385,000 | |||
Buildings and Improvements | 12,185,000 | |||
Total Costs | ||||
Land | 4,091,000 | |||
Buildings and Improvements | 19,059,000 | |||
Accumulated Depreciation | (142,000) | |||
EMEA | MC1 MUSCAT (METRO), OMAN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 182,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 182,000 | |||
Accumulated Depreciation | (1,000) | |||
EMEA | MD1 MADRID (METRO), SPAIN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 7,917,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 11,939,000 | |||
Buildings and Improvements | 6,902,000 | |||
Total Costs | ||||
Land | 11,939,000 | |||
Buildings and Improvements | 14,819,000 | |||
Accumulated Depreciation | (4,795,000) | |||
EMEA | MD2 MADRID (METRO), SPAIN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 40,952,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 52,855,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 93,807,000 | |||
Accumulated Depreciation | (28,952,000) | |||
EMEA | ML2 MILAN (METRO), ITALY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 23,808,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 23,808,000 | |||
Accumulated Depreciation | (12,490,000) | |||
EMEA | ML3 MILAN (METRO), ITALY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 3,882,000 | |||
Buildings and Improvements | 46,399,000 | |||
Total Costs | ||||
Land | 3,882,000 | |||
Buildings and Improvements | 46,399,000 | |||
Accumulated Depreciation | (14,386,000) | |||
EMEA | ML4 MILAN (METRO), ITALY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 9,983,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 9,983,000 | |||
Accumulated Depreciation | (6,829,000) | |||
EMEA | ML5 MILAN (METRO), ITALY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 7,741,000 | |||
Buildings and Improvements | 20,952,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 5,621,000 | |||
Buildings and Improvements | 42,501,000 | |||
Total Costs | ||||
Land | 13,362,000 | |||
Buildings and Improvements | 63,453,000 | |||
Accumulated Depreciation | (156,000) | |||
EMEA | MU1 MUNICH (METRO), GERMANY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 35,105,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 35,105,000 | |||
Accumulated Depreciation | (18,095,000) | |||
EMEA | MU3 MUNICH (METRO), GERMANY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 5,265,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 5,265,000 | |||
Accumulated Depreciation | (2,549,000) | |||
EMEA | MU4 MUNICH (METRO), GERMANY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 13,020,000 | |||
Buildings and Improvements | 35,120,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Total Costs | ||||
Land | 13,020,000 | |||
Buildings and Improvements | 35,120,000 | |||
Accumulated Depreciation | (4,000) | |||
EMEA | PA1 PARIS (METRO), FRANCE | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 13,254,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 13,254,000 | |||
Accumulated Depreciation | (15,966,000) | |||
EMEA | PA2 & PA3 PARIS (METRO), FRANCE | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 29,615,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 25,346,000 | |||
Buildings and Improvements | 334,904,000 | |||
Total Costs | ||||
Land | 25,346,000 | |||
Buildings and Improvements | 364,519,000 | |||
Accumulated Depreciation | (142,901,000) | |||
EMEA | PA4 PARIS (METRO), FRANCE | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,598,000 | |||
Buildings and Improvements | 9,503,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 6,040,000 | |||
Buildings and Improvements | 256,203,000 | |||
Total Costs | ||||
Land | 7,638,000 | |||
Buildings and Improvements | 265,706,000 | |||
Accumulated Depreciation | (80,320,000) | |||
EMEA | PA5 PARIS (METRO), FRANCE | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 16,554,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 5,067,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 21,621,000 | |||
Accumulated Depreciation | (6,976,000) | |||
EMEA | PA6 PARIS (METRO), FRANCE | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 75,895,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 75,895,000 | |||
Accumulated Depreciation | (34,544,000) | |||
EMEA | PA7 PARIS (METRO), FRANCE | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 22,011,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 22,011,000 | |||
Accumulated Depreciation | (10,440,000) | |||
EMEA | PA10 PARIS (METRO), FRANCE | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 51,536,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 51,536,000 | |||
Accumulated Depreciation | (48,000) | |||
EMEA | SA1 SEVILLE (METRO), SPAIN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 1,567,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 1,173,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 2,740,000 | |||
Accumulated Depreciation | (2,181,000) | |||
EMEA | SK1 STOCKHOLM, (METRO), SWEDEN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 15,495,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 17,028,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 32,523,000 | |||
Accumulated Depreciation | (10,244,000) | |||
EMEA | SK2 STOCKHOLM, (METRO), SWEDEN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 80,148,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 4,304,000 | |||
Buildings and Improvements | 87,585,000 | |||
Total Costs | ||||
Land | 4,304,000 | |||
Buildings and Improvements | 167,733,000 | |||
Accumulated Depreciation | (33,517,000) | |||
EMEA | SK3 STOCKHOLM, (METRO), SWEDEN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 18,894,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 18,894,000 | |||
Accumulated Depreciation | (5,535,000) | |||
EMEA | SO1 SOFIA (METRO), BULGARIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 5,236,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 4,721,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 9,957,000 | |||
Accumulated Depreciation | (2,619,000) | |||
EMEA | SO2 SOFIA (METRO), BULGARIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 2,719,000 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 241,000 | |||
Buildings and Improvements | 18,625,000 | |||
Total Costs | ||||
Land | 2,960,000 | |||
Buildings and Improvements | 18,625,000 | |||
Accumulated Depreciation | (1,368,000) | |||
EMEA | WA1 WARSAW (METRO), POLAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 5,950,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 26,442,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 32,392,000 | |||
Accumulated Depreciation | (7,596,000) | |||
EMEA | WA2 WARSAW (METRO), POLAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 4,709,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 9,497,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 14,206,000 | |||
Accumulated Depreciation | (4,666,000) | |||
EMEA | WA3 WARSAW (METRO), POLAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 2,784,000 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 75,000 | |||
Buildings and Improvements | 46,005,000 | |||
Total Costs | ||||
Land | 2,859,000 | |||
Buildings and Improvements | 46,005,000 | |||
Accumulated Depreciation | (1,399,000) | |||
EMEA | ZH2 ZURICH (METRO), SWITZERLAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 3,613,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 3,613,000 | |||
Accumulated Depreciation | (2,830,000) | |||
EMEA | ZH4 ZURICH (METRO), SWITZERLAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 11,284,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 34,739,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 46,023,000 | |||
Accumulated Depreciation | (26,926,000) | |||
EMEA | ZH5 ZURICH (METRO), SWITZERLAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 8,315,000 | |||
Buildings and Improvements | 198,829,000 | |||
Total Costs | ||||
Land | 8,315,000 | |||
Buildings and Improvements | 198,829,000 | |||
Accumulated Depreciation | (27,791,000) | |||
EMEA | ZW1 ZWOLLE (METRO), THE NETHERLANDS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 11,191,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 11,191,000 | |||
Accumulated Depreciation | (8,544,000) | |||
Asia-Pacific | OTHERS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 875,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 36,057,000 | |||
Buildings and Improvements | 22,529,000 | |||
Total Costs | ||||
Land | 36,057,000 | |||
Buildings and Improvements | 23,404,000 | |||
Accumulated Depreciation | (9,643,000) | |||
Asia-Pacific | AE1 ADELAIDE (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 2,654,000 | |||
Buildings and Improvements | 1,015,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 258,000 | |||
Buildings and Improvements | 2,077,000 | |||
Total Costs | ||||
Land | 2,912,000 | |||
Buildings and Improvements | 3,092,000 | |||
Accumulated Depreciation | (766,000) | |||
Asia-Pacific | BR1 BRISBANE (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 3,159,000 | |||
Buildings and Improvements | 1,053,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 307,000 | |||
Buildings and Improvements | 2,880,000 | |||
Total Costs | ||||
Land | 3,466,000 | |||
Buildings and Improvements | 3,933,000 | |||
Accumulated Depreciation | (560,000) | |||
Asia-Pacific | CA1 CANBERRA (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 18,410,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 8,167,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 26,577,000 | |||
Accumulated Depreciation | (2,524,000) | |||
Asia-Pacific | HK1 HONG KONG (METRO), CHINA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 275,411,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 275,411,000 | |||
Accumulated Depreciation | (112,144,000) | |||
Asia-Pacific | HK2 HONG KONG (METRO), CHINA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 235,711,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 235,711,000 | |||
Accumulated Depreciation | (147,496,000) | |||
Asia-Pacific | HK3 HONG KONG (METRO), CHINA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 144,741,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 144,741,000 | |||
Accumulated Depreciation | (80,873,000) | |||
Asia-Pacific | HK4 HONG KONG (METRO), CHINA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 93,809,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 93,809,000 | |||
Accumulated Depreciation | (9,739,000) | |||
Asia-Pacific | HK5 HONG KONG (METRO), CHINA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 70,002,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 40,439,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 110,441,000 | |||
Accumulated Depreciation | (20,243,000) | |||
Asia-Pacific | ME1 MELBOURNE (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 14,926,000 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 1,452,000 | |||
Buildings and Improvements | 96,943,000 | |||
Total Costs | ||||
Land | 16,378,000 | |||
Buildings and Improvements | 96,943,000 | |||
Accumulated Depreciation | (25,498,000) | |||
Asia-Pacific | ME2 MELBOURNE (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 89,372,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 89,372,000 | |||
Accumulated Depreciation | (3,718,000) | |||
Asia-Pacific | ME4 MELBOURNE (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 3,425,000 | |||
Buildings and Improvements | 84,175,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 334,000 | |||
Buildings and Improvements | 19,555,000 | |||
Total Costs | ||||
Land | 3,759,000 | |||
Buildings and Improvements | 103,730,000 | |||
Accumulated Depreciation | (18,274,000) | |||
Asia-Pacific | ME5 MELBOURNE (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 6,655,000 | |||
Buildings and Improvements | 4,094,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 647,000 | |||
Buildings and Improvements | 4,863,000 | |||
Total Costs | ||||
Land | 7,302,000 | |||
Buildings and Improvements | 8,957,000 | |||
Accumulated Depreciation | (2,135,000) | |||
Asia-Pacific | OS1 OSAKA (METRO), JAPAN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 14,876,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 109,268,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 124,144,000 | |||
Accumulated Depreciation | (37,310,000) | |||
Asia-Pacific | OS3 OSAKA (METRO), JAPAN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 1,491,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 1,491,000 | |||
Accumulated Depreciation | 0 | |||
Asia-Pacific | PE1 PERTH (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 1,347,000 | |||
Buildings and Improvements | 1,337,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 132,000 | |||
Buildings and Improvements | 2,070,000 | |||
Total Costs | ||||
Land | 1,479,000 | |||
Buildings and Improvements | 3,407,000 | |||
Accumulated Depreciation | (408,000) | |||
Asia-Pacific | PE2 PERTH (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 16,327,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 17,637,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 33,964,000 | |||
Accumulated Depreciation | (5,885,000) | |||
Asia-Pacific | PE3 PERTH (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 43,076,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 43,076,000 | |||
Accumulated Depreciation | 0 | |||
Asia-Pacific | SG1 SINGAPORE (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 263,516,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 263,516,000 | |||
Accumulated Depreciation | (126,298,000) | |||
Asia-Pacific | SG2 SINGAPORE (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 301,305,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 301,305,000 | |||
Accumulated Depreciation | (223,677,000) | |||
Asia-Pacific | SG3 SINGAPORE (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 34,844,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 227,324,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 262,168,000 | |||
Accumulated Depreciation | (68,707,000) | |||
Asia-Pacific | SG4 SINGAPORE (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 54,602,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 117,537,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 172,139,000 | |||
Accumulated Depreciation | (7,303,000) | |||
Asia-Pacific | SG5 SINGAPORE (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 74,579,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 74,579,000 | |||
Accumulated Depreciation | (6,000) | |||
Asia-Pacific | SH2 SHANGHAI (METRO), CHINA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 6,169,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 6,169,000 | |||
Accumulated Depreciation | (2,515,000) | |||
Asia-Pacific | SH3 SHANGHAI (METRO), CHINA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 7,066,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 12,132,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 19,198,000 | |||
Accumulated Depreciation | (6,870,000) | |||
Asia-Pacific | SH5 SHANGHAI (METRO), CHINA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 11,284,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 22,973,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 34,257,000 | |||
Accumulated Depreciation | (14,764,000) | |||
Asia-Pacific | SH6 SHANGHAI (METRO), CHINA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 16,545,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 25,177,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 41,722,000 | |||
Accumulated Depreciation | (3,491,000) | |||
Asia-Pacific | SL1 SEOUL (METRO), SOUTH KOREA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 29,236,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 41,305,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 70,541,000 | |||
Accumulated Depreciation | (5,901,000) | |||
Asia-Pacific | SY1 SYDNEY (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 33,242,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 33,242,000 | |||
Accumulated Depreciation | (22,970,000) | |||
Asia-Pacific | SY2 SYDNEY (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 3,080,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 26,936,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 30,016,000 | |||
Accumulated Depreciation | (24,626,000) | |||
Asia-Pacific | SY3 SYDNEY (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 8,712,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 158,023,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 166,735,000 | |||
Accumulated Depreciation | (86,628,000) | |||
Asia-Pacific | SY4 SYDNEY (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 187,449,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 187,449,000 | |||
Accumulated Depreciation | (44,397,000) | |||
Asia-Pacific | SY5 SYDNEY (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 82,091,000 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 7,987,000 | |||
Buildings and Improvements | 209,356,000 | |||
Total Costs | ||||
Land | 90,078,000 | |||
Buildings and Improvements | 209,356,000 | |||
Accumulated Depreciation | (7,028,000) | |||
Asia-Pacific | SY6 SYDNEY (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 8,860,000 | |||
Buildings and Improvements | 64,197,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 861,000 | |||
Buildings and Improvements | 17,594,000 | |||
Total Costs | ||||
Land | 9,721,000 | |||
Buildings and Improvements | 81,791,000 | |||
Accumulated Depreciation | (10,201,000) | |||
Asia-Pacific | SY7 SYDNEY (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 2,745,000 | |||
Buildings and Improvements | 47,350,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 267,000 | |||
Buildings and Improvements | 8,854,000 | |||
Total Costs | ||||
Land | 3,012,000 | |||
Buildings and Improvements | 56,204,000 | |||
Accumulated Depreciation | (6,959,000) | |||
Asia-Pacific | SY8 SYDNEY (METRO), AUSTRALIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 1,073,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 593,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 1,666,000 | |||
Accumulated Depreciation | (892,000) | |||
Asia-Pacific | TY1 TOKYO (METRO), JAPAN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 39,230,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 39,230,000 | |||
Accumulated Depreciation | (23,170,000) | |||
Asia-Pacific | TY2 TOKYO (METRO), JAPAN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 96,496,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 96,496,000 | |||
Accumulated Depreciation | (71,144,000) | |||
Asia-Pacific | TY3 TOKYO (METRO), JAPAN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 85,876,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 85,876,000 | |||
Accumulated Depreciation | (47,128,000) | |||
Asia-Pacific | TY4 TOKYO (METRO), JAPAN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 82,725,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 82,725,000 | |||
Accumulated Depreciation | (34,195,000) | |||
Asia-Pacific | TY5 TOKYO (METRO), JAPAN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 102,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 65,372,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 65,474,000 | |||
Accumulated Depreciation | (18,311,000) | |||
Asia-Pacific | TY6 TOKYO (METRO), JAPAN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 37,941,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 15,474,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 53,415,000 | |||
Accumulated Depreciation | (33,005,000) | |||
Asia-Pacific | TY7 TOKYO (METRO), JAPAN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 13,175,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 7,323,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 20,498,000 | |||
Accumulated Depreciation | (14,101,000) | |||
Asia-Pacific | TY8 TOKYO (METRO), JAPAN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 53,848,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 17,245,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 71,093,000 | |||
Accumulated Depreciation | (28,569,000) | |||
Asia-Pacific | TY9 TOKYO (METRO), JAPAN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 106,710,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 30,151,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 136,861,000 | |||
Accumulated Depreciation | (80,293,000) | |||
Asia-Pacific | TY10 TOKYO (METRO), JAPAN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 69,881,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 22,675,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 92,556,000 | |||
Accumulated Depreciation | (26,774,000) | |||
Asia-Pacific | TY11 TOKYO (METRO), JAPAN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 22,099,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 198,696,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 220,795,000 | |||
Accumulated Depreciation | $ (10,068,000) |
Schedule III - Real Estate an_3
Schedule III - Real Estate and Accumulated Depreciation - Reconciliation of Carrying Amount of Real Estate Investments (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward] | |||
Balance, beginning of period | $ 16,927,332 | $ 15,020,198 | $ 12,947,735 |
ASC 842 adoption impact | 0 | (276,671) | 0 |
Additions (including acquisitions and improvements) | 3,110,907 | 2,632,472 | 2,756,218 |
Disposals | (446,864) | (463,485) | (289,157) |
Foreign currency transaction adjustments and others | 570,410 | 14,818 | (394,598) |
Balance, end of year | $ 20,161,785 | $ 16,927,332 | $ 15,020,198 |
Schedule III - Real Estate an_4
Schedule III - Real Estate and Accumulated Depreciation - Reconciliation of Real Estate Accumulated Depreciation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward] | |||
Balance, beginning of period | $ (5,329,182) | $ (4,517,016) | $ (3,980,198) |
ASC 842 adoption impact | 0 | (7,846) | 0 |
Additions (depreciation expense) | (1,036,452) | (926,046) | (882,848) |
Disposals | 109,230 | 128,352 | 261,928 |
Foreign currency transaction adjustments and others | (143,073) | (6,626) | 84,102 |
Balance, end of year | $ (6,399,477) | $ (5,329,182) | $ (4,517,016) |
Uncategorized Items - eqix-2020
Label | Element | Value |
Accounting Standards Update [Extensible List] | us-gaap_AccountingStandardsUpdateExtensibleList | us-gaap:AccountingStandardsUpdate201409Member |