Cover Page
Cover Page - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2021 | Feb. 17, 2022 | Jun. 30, 2021 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Transition Report | false | ||
Entity File Number | 001-40205 | ||
Entity Registrant Name | EQUINIX, INC. | ||
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 | ||
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 | ||
ICFR Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
Entity Public Float | $ 72 | ||
Entity Common Stock, Shares Outstanding | 90,721,039 | ||
Documents Incorporated by Reference | Part III – Portions of the registrant's definitive proxy statement to be issued in conjunction with the registrant's 2022 Annual Meeting of Stockholders, which is expected to be filed not later than 120 days after the registrant's fiscal year ended December 31, 2021. 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 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
Entity Central Index Key | 0001101239 | ||
Current Fiscal Year End Date | --12-31 | ||
Common Stock, $0.001 | |||
Document Information [Line Items] | |||
Title of 12(b) Security | Common Stock, $0.001 | ||
Trading Symbol | EQIX | ||
Security Exchange Name | NASDAQ | ||
0.250% Senior Notes due 2027 | |||
Document Information [Line Items] | |||
Title of 12(b) Security | 0.250% Senior Notes due 2027 | ||
Security Exchange Name | NASDAQ | ||
No Trading Symbol Flag | true | ||
1.000% Senior Notes due 2033 | |||
Document Information [Line Items] | |||
Title of 12(b) Security | 1.000% Senior Notes due 2033 | ||
Security Exchange Name | NASDAQ | ||
No Trading Symbol Flag | true |
Audit Information
Audit Information | 12 Months Ended |
Dec. 31, 2021 | |
Audit Information [Abstract] | |
Auditor Name | PricewaterhouseCoopers LLP |
Auditor Firm ID | 238 |
Auditor Location | San Jose, California |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 1,536,358 | $ 1,604,869 |
Short-term investments | 0 | 4,532 |
Accounts receivable, net of allowance of $11,635 and $10,677 | 681,809 | 676,738 |
Other current assets | 462,739 | 323,016 |
Assets held for sale | 276,195 | 0 |
Total current assets | 2,957,101 | 2,609,155 |
Property, plant and equipment, net | 15,445,775 | 14,503,084 |
Operating lease right-of-use assets | 1,282,418 | 1,475,057 |
Goodwill | 5,372,071 | 5,472,553 |
Intangible assets, net | 1,935,267 | 2,170,945 |
Other assets | 926,066 | 776,047 |
Total assets | 27,918,698 | 27,006,841 |
Current liabilities: | ||
Accounts payable and accrued expenses | 879,144 | 844,862 |
Accrued property, plant and equipment | 187,334 | 301,155 |
Current portion of operating lease liabilities | 144,029 | 154,207 |
Current portion of finance lease liabilities | 147,841 | 137,683 |
Current portion of mortgage and loans payable | 33,087 | 82,289 |
Current portion of senior notes | 0 | 150,186 |
Other current liabilities | 214,519 | 354,368 |
Total current liabilities | 1,605,954 | 2,024,750 |
Operating lease liabilities, less current portion | 1,107,180 | 1,308,627 |
Finance lease liabilities, less current portion | 1,989,668 | 1,784,816 |
Mortgage and loans payable, less current portion | 586,577 | 1,287,254 |
Senior notes, less current portion | 10,984,144 | 9,018,277 |
Other liabilities | 763,411 | 948,999 |
Total liabilities | 17,036,934 | 16,372,723 |
Commitments and contingencies (Note 15) | ||
Equinix stockholders' equity: | ||
Preferred stock, $0.001 par value per share: 100,000,000 shares authorized in 2021 and 2020; zero shares issued and outstanding | 0 | 0 |
Common stock, $0.001 par value per share: 300,000,000 shares authorized in 2021 and 2020; 90,872,826 issued and 90,571,406 outstanding in 2021 and 89,462,304 issued and 89,134,252 outstanding in 2020 | 91 | 89 |
Additional paid-in capital | 15,984,597 | 15,028,357 |
Treasury stock, at cost; 301,420 shares in 2021 and 328,052 shares in 2020 | (112,208) | (122,118) |
Accumulated dividends | (6,165,140) | (5,119,274) |
Accumulated other comprehensive loss | (1,085,751) | (913,368) |
Retained earnings | 2,260,493 | 1,760,302 |
Total Equinix stockholders' equity | 10,882,082 | 10,633,988 |
Non-controlling interests | (318) | 130 |
Total stockholders' equity | 10,881,764 | 10,634,118 |
Total liabilities and stockholders' equity | $ 27,918,698 | $ 27,006,841 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Allowance for credit losses | $ 11,635 | $ 10,677 |
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) | 90,872,826 | 89,462,304 |
Common stock, shares outstanding (in shares) | 90,571,406 | 89,134,252 |
Treasury stock, at cost (in shares) | 301,420 | 328,052 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Statement [Abstract] | |||
Revenues | $ 6,635,537 | $ 5,998,545 | $ 5,562,140 |
Costs and operating expenses: | |||
Cost of revenues | 3,472,422 | 3,074,340 | 2,810,184 |
Sales and marketing | 741,232 | 718,356 | 651,046 |
General and administrative | 1,301,797 | 1,090,981 | 935,018 |
Transaction costs | 22,769 | 55,935 | 24,781 |
Impairment charges | 0 | 7,306 | 15,790 |
Gain on asset sales | (10,845) | (1,301) | (44,310) |
Total costs and operating expenses | 5,527,375 | 4,945,617 | 4,392,509 |
Income from operations | 1,108,162 | 1,052,928 | 1,169,631 |
Interest income | 2,644 | 8,654 | 27,697 |
Interest expense | (336,082) | (406,466) | (479,684) |
Other income (expense) | (50,647) | 6,913 | 27,778 |
Loss on debt extinguishment | (115,125) | (145,804) | (52,825) |
Income before income taxes | 608,952 | 516,225 | 692,597 |
Income tax expense | (109,224) | (146,151) | (185,352) |
Net income | 499,728 | 370,074 | 507,245 |
Net (income) loss attributable to non-controlling interests | 463 | (297) | 205 |
Net income attributable to Equinix | $ 500,191 | $ 369,777 | $ 507,450 |
Earnings per share ("EPS") attributable to Equinix: | |||
Basic EPS (in dollars per share) | $ 5.57 | $ 4.22 | $ 6.03 |
Weighted-average shares for basic EPS (in shares) | 89,772 | 87,700 | 84,140 |
Diluted EPS (in dollars per share) | $ 5.53 | $ 4.18 | $ 5.99 |
Weighted-average shares for diluted EPS (in shares) | 90,409 | 88,410 | 84,679 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 499,728 | $ 370,074 | $ 507,245 |
Other comprehensive income (loss), net of tax: | |||
Foreign currency translation adjustment ("CTA") gain (loss), net of tax effects of $0, $0 and $(51) | (559,969) | 548,560 | (58,334) |
Net investment hedge CTA gain (loss), net of tax effects of $0, $0 and $10 | 326,982 | (444,553) | 73,294 |
Unrealized gain (loss) on cash flow hedges, net of tax effects of $(16,980), $14,521 and $2,938 | 60,562 | (82,790) | (3,842) |
Net actuarial gain (loss) on defined benefit plans, net of tax effects of $(14), $(23) and $(9) | 57 | 85 | (48) |
Total other comprehensive income (loss), net of tax | (172,368) | 21,302 | 11,070 |
Comprehensive income, net of tax | 327,360 | 391,376 | 518,315 |
Net (income) loss attributable to non-controlling interests | 463 | (297) | 205 |
Other comprehensive (income) loss attributable to non-controlling interests | (15) | (57) | 19 |
Comprehensive income attributable to Equinix | $ 327,808 | $ 391,022 | $ 518,539 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | |||
Foreign currency translation adjustment, tax | $ 0 | $ 0 | $ (51) |
Net investment hedge CTA gain (loss) tax effect | 0 | 0 | 10 |
Unrealized gain (loss) on cash flow hedges, tax | (16,980) | 14,521 | 2,938 |
Net actuarial gain (loss) on defined benefit plans, tax | $ (14) | $ (23) | $ (9) |
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) | Retained Earnings | Retained EarningsAdjustment from adoption of new accounting standard | Non-controlling Interests |
Beginning balance (in shares) at Dec. 31, 2018 | 81,119,117 | (396,859) | ||||||||||||||||||
Beginning 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] | ||||||||||||||||||||
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 on common stock | (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 | 85,700,953 | (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] | ||||||||||||||||||||
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 | $ 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 | $ 1,683,103 | 298,269 | |||||||||||||
Dividend distributions on common stock | (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 | |||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||
Net income (loss) | 499,728 | 500,191 | 500,191 | (463) | ||||||||||||||||
Other comprehensive income (loss) | (172,368) | (172,383) | (172,383) | 15 | ||||||||||||||||
Issuance of common stock and release of treasury stock for employee equity awards (in shares) | 772,905 | 26,632 | ||||||||||||||||||
Issuance of common stock and release of treasury stock for employee equity awards | 77,629 | 77,629 | $ 1 | $ 9,910 | 67,718 | |||||||||||||||
Issuance of common stock (in shares) | 637,617 | |||||||||||||||||||
Issuance of common stock, net | $ 497,870 | $ 497,870 | $ 1 | $ 497,869 | ||||||||||||||||
Dividend distributions on common stock | (1,030,005) | (1,030,005) | (1,030,005) | |||||||||||||||||
Settlement of accrued dividends on vested equity awards | (839) | (839) | (839) | |||||||||||||||||
Accrued dividends on unvested equity awards | (15,022) | (15,022) | (15,022) | |||||||||||||||||
Stock-based compensation, net of estimated forfeitures | $ 390,653 | 390,653 | 390,653 | |||||||||||||||||
Ending balance (in shares) at Dec. 31, 2021 | 90,571,406 | 90,872,826 | (301,420) | |||||||||||||||||
Ending balance at Dec. 31, 2021 | $ 10,881,764 | $ 10,882,082 | $ 91 | $ (112,208) | $ 15,984,597 | $ (6,165,140) | $ (1,085,751) | $ 2,260,493 | $ (318) |
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, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | 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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of Stockholders' Equity [Abstract] | |||||||||||||||
Dividends per share (in dollars per share) | $ 2.870000 | $ 2.870000 | $ 2.870000 | $ 2.870000 | $ 2.660000 | $ 2.660000 | $ 2.660000 | $ 2.660000 | $ 2.460000 | $ 2.460000 | $ 2.460000 | $ 2.460000 | $ 11.480000 | $ 10.640000 | $ 9.840000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | |||
Net income | $ 499,728 | $ 370,074 | $ 507,245 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 1,450,806 | 1,224,322 | 1,088,559 |
Stock-based compensation | 363,774 | 294,952 | 236,539 |
Amortization of intangible assets | 205,484 | 199,047 | 196,278 |
Amortization of debt issuance costs and debt discounts and premiums | 17,135 | 15,739 | 13,042 |
Provision for credit loss allowance | 10,016 | 5,069 | 8,459 |
Impairment charges | 0 | 7,306 | 15,790 |
Gain on asset sales | (10,845) | (1,301) | (44,310) |
Loss on debt extinguishment | 115,125 | 145,804 | 52,825 |
Other items | 28,717 | 16,643 | 11,620 |
Changes in operating assets and liabilities: | |||
Accounts receivable | (1,873) | 25,412 | (26,909) |
Income taxes, net | (16,602) | (22,641) | 32,495 |
Other assets | (114,268) | (129,817) | (100,144) |
Operating lease right-of-use assets | 140,590 | 153,650 | 149,031 |
Operating lease liabilities | (177,533) | (142,863) | (152,091) |
Accounts payable and accrued expenses | 64,596 | 25,801 | (27,928) |
Other liabilities | (27,644) | 122,629 | 32,227 |
Net cash provided by operating activities | 2,547,206 | 2,309,826 | 1,992,728 |
Cash flows from investing activities: | |||
Purchases of investments | (107,533) | (127,763) | (60,909) |
Sales of investments | 4,057 | 29,352 | 40,386 |
Business acquisitions, net of cash and restricted cash acquired | (158,498) | (1,180,272) | (34,143) |
Real estate acquisitions | (201,837) | (200,182) | (169,153) |
Purchases of other property, plant and equipment | (2,751,512) | (2,282,504) | (2,079,521) |
Proceeds from sale of assets, net of cash transferred | 208,585 | 334,397 | 358,773 |
Net cash used in investing activities | (3,006,738) | (3,426,972) | (1,944,567) |
Cash flows from financing activities: | |||
Proceeds from employee equity awards | 77,628 | 62,118 | 52,018 |
Payment of dividends | (1,042,909) | (947,933) | (836,164) |
Proceeds from public offering of common stock, net of issuance costs | 497,870 | 1,981,375 | 1,660,976 |
Proceeds from senior notes, net of debt discounts | 3,878,662 | 4,431,627 | 2,797,906 |
Proceeds from mortgage and loans payable | 0 | 750,790 | 0 |
Repayment of senior notes | (1,990,650) | (4,363,761) | (2,206,289) |
Repayments of finance lease liabilities | (165,539) | (115,288) | (126,486) |
Repayments of mortgage and loans payable | (717,010) | (829,466) | (73,227) |
Debt extinguishment costs | (99,185) | (111,700) | (43,311) |
Debt issuance costs | (25,102) | (42,236) | (23,341) |
Net cash provided by financing activities | 413,765 | 815,526 | 1,202,082 |
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash | (30,474) | 40,702 | 8,766 |
Net increase (decrease) in cash, cash equivalents and restricted cash | (76,241) | (260,918) | 1,259,009 |
Cash, cash equivalents and restricted cash at beginning of period | 1,625,695 | 1,886,613 | 627,604 |
Cash, cash equivalents and restricted cash at end of period | 1,549,454 | 1,625,695 | 1,886,613 |
Supplemental cash flow information | |||
Cash paid for taxes | 134,411 | 143,934 | 136,583 |
Cash paid for interest | 426,439 | 498,408 | 553,815 |
Cash and cash equivalents | 1,536,358 | 1,604,869 | 1,869,577 |
Current portion of restricted cash included in other current assets | 12,188 | 11,135 | 7,090 |
Non-current portion of restricted cash included in other assets | 908 | 9,691 | 9,946 |
Total cash, cash equivalents, and restricted cash shown in the consolidated statement of cash flows | $ 1,549,454 | $ 1,625,695 | $ 1,886,613 |
Nature of Business and Summary
Nature of Business and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
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," the "Company," "we," "our," or "us") 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. We operate 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 2,000 network service providers offer access to the world's internet routes inside our 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, 2021, we operated 240 IBX data centers in 66 markets around the world. We have 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: • 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; • 12 data center sites across Canada from BCE Inc. ("Bell") from October 1, 2020 and one additional data center site from November 2, 2020; and • Two data center sites in Mumbai, India from GPX India ("GPX India Acquisition") from September 1, 2021. We consolidate all entities that are wholly owned and those entities in which we own less than 100% of the equity but control, including variable interest entities ("VIEs") for which we are the primary beneficiary. Our investment in consolidated VIEs have not been material to our 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 our accompanying consolidated statements of operations. For additional information on the impact of foreign currencies to our 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, we evaluate our 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. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable. Cash, Cash Equivalents and Short-Term Investments We consider 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 our consolidated statements of operations. We review our 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 We enter 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, we assess our 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. We are required to consolidate the assets and liabilities of VIEs when we are 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 we are not the primary beneficiary, and other joint ventures or partnerships that are not VIEs, where we have the ability to exercise significant influence over the entity, we account for our 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 derecognized distinct non-financial assets. Equity investments are subsequently adjusted for cash contributions, distributions and our share of the income and losses of the investees. We record our equity method investments in other assets in the consolidated balance sheet. Our proportionate shares of the income or loss from our equity method investments are recorded in other income in the consolidated statement of operations. We review our 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. We did not record any impairment charges related to our equity method investments for the years ended December 31, 2021, 2020 and 2019. For further information on our Equity Method Investments, see Note 6. Non-marketable Equity Investments We also have investments in non-marketable equity securities, where we do not have the ability to exercise significant influence over the investees. We 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. We record non-marketable equity investment in other assets in the consolidated balance sheet. We review our 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. We did not record any impairment charges related to our non-marketable equity investments for the years ended December 31, 2021, 2020 and 2019. Financial Instruments and Concentration of Credit Risk Financial instruments which potentially subject us 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 our investment policy, which limits our 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 our customer base is comprised of businesses throughout the Americas. However, a portion of our revenues are derived from our EMEA and Asia-Pacific operations. The following table sets forth percentages of our revenues by geographic region for the years ended December 31: 2021 2020 2019 Americas 46 % 45 % 47 % EMEA 32 % 33 % 32 % Asia-Pacific 22 % 22 % 21 % For further information on segment information, see Note 17. Property, Plant and Equipment Property, plant and equipment are stated at our 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. Buildings under finance leases, 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. We capitalize 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 us 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. Our estimated useful lives of property, plant and equipment are generally as follows: Core systems 3 - 40 years Buildings 12 - 60 years Leasehold improvements 12 - 40 years Personal Property, including capitalized internal-use software 3 - 10 years Our construction in progress includes direct and indirect expenditures for the construction and expansion of IBX data centers and is stated at original cost. We contracted out substantially all of the construction and expansion efforts of our 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, we 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. We review our 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 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 our 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 in the amount by which the carrying amount of the asset or the asset group exceeds the fair value of the asset. We did not record any impairment charges related to our property, plant and equipment during the years ended December 31, 2021, 2020 and 2019. We enter into non-cancellable lease arrangements as the lessee primarily for our 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 our property, plant and equipment are used for revenue arrangements which are accounted for as operating leases where we are 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. We recorded an impairment charge of $7.3 million relating to assets held for sale for the year ended December 31, 2020. Assets are not depreciated or amortized while they are classified as held for sale. For further information on our assets held for sale, see Note 5. Asset Retirement Costs and Asset Retirement Obligations Our asset retirement obligations are primarily related to our 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 our IBX data center leases have been subject to significant development by us in order to convert them from, in most cases, vacant buildings or warehouses into IBX data centers. 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, we accrete the liability in relation to the asset retirement obligations over time and the accretion expense is recorded as a cost of revenue. For further information on our leases, see Note 7. Goodwill and Other Intangible Assets We have three reportable segments comprised of the 1) Americas, 2) EMEA and 3) Asia-Pacific geographic regions, which we also determined are our 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. We assess 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, we determine 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 we conclude otherwise, then we are 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, 2021, 2020 and 2019, we concluded that it was more likely than not that goodwill attributed to our 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 our intangible assets are subject to amortization and are amortized using the straight-line method over their estimated period of benefit. We perform 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. We did not record any impairment charges related to our other intangible assets during the years ended December 31, 2021, 2020 and 2019. 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 We use 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 us and are not used for speculative purposes. We recognize all derivatives on our 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, we use 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. We use 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. We use 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, we use 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. We use 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, we also use 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. We use 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 our consolidated statements of operations, with the exception of (i) foreign currency embedded derivatives contained in certain of our 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 our 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 our cash and cash equivalents, short-term investments and derivative instruments represent their fair value, while our 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 our debt, which is traded in the public debt market, is based on quoted market prices. The fair value of our debt, which is not publicly traded, is estimated by considering our credit rating, current rates available to us for debt of the same remaining maturities and terms of the debt. Fair Value Measurements We measure and report certain financial assets and liabilities at fair value on a recurring basis, including our investments in money market funds, certificates of deposit, publicly traded equity securities and derivatives. We also follow 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 On January 1, 2019, we adopted Topic 842 using the alternative transition method and recognized an insignificant cumulative effect of initially applying the standard as an adjustment to the opening balance of retained earnings. We enter into lease arrangements primarily for land, data center spaces, office spaces and equipment. At its inception, we determine whether an arrangement is or contains a lease. We recognize 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 we are reasonably certain to exercise. ROU assets represent our right to use an underlying asset for the lease term. Lease liabilities represent our 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, we reassess its classification and remeasure the ROU asset and lease liability. 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 us. 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 our leases do not provide an implicit rate, we use our own incremental borrowing rate ("IBR") on a collateralized basis in determining the present value of lease payments. We utilize a market-based approach to estimate the IBR. The approach requires significant judgment. Therefore, we utilize different data sets to estimate IBRs via an analysis of (i) sovereign rates; (ii) yields on our outstanding public debt; and (iii) indicative pricing on both secured and unsecured debt received from banking partners. We also apply 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 our lease arrangements include options to extend the lease. If we are 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. We have certain leases with an initial term of 12 months or less. For such leases, we elected not to recognize any ROU asset or lease liability on the consolidated balance sheet. We have lease agreements with lease and non-lease components. We elected to account for the lease and non-lease components as a single lease component for all classes of underlying assets for which we have identified as 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 our 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, we account 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 we are primarily responsible for fulfilling the contract, bear inventory risk and have discretion in establishing the price when selling to the customer. To the extent we do not meet the criteria for recognizing revenue on a gross basis, we record 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. We guarantee 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 our IBX data centers, we would reduce revenue for any credits or cash payments given to the customer. Historically, these credits and cash payments have not been significant. We enter into revenue contracts with customers for data centers and office spaces, which contain both lease and non-lease components. We 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 ha |
Revenue
Revenue | 12 Months Ended |
Dec. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | Revenue Contract Balances The following table summarizes the opening and closing balances of our accounts receivable, net; contract assets, current; contract assets, non-current; deferred revenue, current; and deferred revenue, non-current (in thousands): Accounts receivable, net (1) Contract assets, current Contract assets, non-current Deferred revenue, current Deferred revenue, non-current Beginning balances as of January 1, 2021 $ 676,738 $ 13,534 $ 54,050 $ 101,258 $ 71,242 Closing balances as of December 31, 2021 681,809 65,392 55,486 109,736 87,495 Increase $ 5,071 $ 51,858 $ 1,436 $ 8,478 $ 16,253 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 (1) The net change in our allowance for credit losses was insignificant during the year ended December 31, 2021. The difference between the opening and closing balances of our accounts receivable, net, contract assets and deferred revenues primarily results from revenue growth and the timing difference between the satisfaction of our performance obligation and the customer's payment, as well as business combinations closed during the years ended December 31, 2021 and 2020. The amounts of revenue recognized during the years ended December 31, 2021, 2020 and 2019 from the opening deferred revenue balance were $93.1 million, $87.0 million and $87.3 million, respectively. For the years ended December 31, 2021, 2020 and 2019, 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, 2021 and 2020 were $325.5 million and $268.0 million, respectively, which were included in other assets in the consolidated balance sheet. $87.6 million, $85.4 million, and $72.9 million of contract costs were amortized during years ended December 31, 2021, 2020, and 2019, respectively, which were included in sales and marketing expense in the consolidated statement of operations. Remaining performance obligations As of December 31, 2021, approximately $9.1 billion of total revenues, including deferred installation revenues, are expected to be recognized in future periods. Most of our revenue contracts have an initial term varying from one 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, 2021 | |
Business Combination and Asset Acquisition [Abstract] | |
Acquisitions | Acquisitions Pending Acquisition Acquisition of MainOne Cable Company Ltd. (the "MainOne Acquisition") On December 6, 2021, we entered into an agreement to purchase MainOne Cable Company Ltd. ("MainOne"), representing three operational data centers, with an additional facility under construction. We intend to acquire MainOne and its assets in an all-cash transaction at an enterprise value of approximately $320 million. The acquisition is expected to close in the second quarter of 2022, subject to customary conditions including regulatory approval. Upon the close of the acquisition, the operating results of the acquired business will be reported in the EMEA region. The MainOne Acquisition supports our ongoing expansion to meet customer demand in the West African market. 2021 Acquisition Acquisition of GPX India (the "GPX India Acquisition") On September 1, 2021, we completed the acquisition of GPX India, representing two data centers in Mumbai, India, for a total purchase consideration of approximately INR12.5 billion, or $170.5 million at the exchange rate in effect on that date. The GPX India Acquisition supports our ongoing expansion to meet customer demand in the market. 2020 Acquisitions Acquisition of Bell Data Centers (the "Bell Acquisition") On October 1, 2020, we completed the acquisition of 12 data center sites across Canada from Bell, with one additional data center in Ottawa Canada acquired on November 2, 2020, for a total combined purchase consideration of approximately C$934.3 million, or $704.0 million at the exchange rates in effect on those dates. The acquisition supports our ongoing expansion to meet customer demand in Canada. Acquisition of Packet (the "Packet Acquisition") On March 2, 2020, we acquired all outstanding shares and equity awards of Packet, a leading bare metal automation platform for a total purchase consideration of approximately $290.3 million in cash. In addition, we 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 during the three months ended March 31, 2020. In connection with the acquisition, we 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 our strategy to help enterprises deploy hybrid multicloud architectures on our data center platform. Acquisition of data centers from Axtel (the "Axtel Acquisition") On January 8, 2020, we 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 we paid to the seller for recoverable value-added taxes ("VAT") incurred prior to the acquisition, which related to a corresponding VAT receivable acquired upon acquisition. The acquisition supports our ongoing expansion to meet customer demand in our Americas region. Purchase price allocation Each of these acquisitions constitute a business under the accounting standard for business combinations and, therefore, were accounted for as business combinations using the acquisition method of accounting. Under this method, 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, 2021, we had not completed the detailed valuation analysis to derive the fair value of assets acquired and liabilities assumed from the GPX India 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): GPX India (1) Bell (2) Packet Axtel Provisional Final Cash and cash equivalents $ 9,406 $ — $ 1,068 $ — Accounts receivable 4,399 — 5,098 — Other current assets 8,883 696 299 14,048 Property, plant and equipment 88,108 538,717 27,945 76,407 Operating lease right-of-use assets 62 14,359 1,519 1,646 Intangible assets 15,472 75,857 58,500 22,750 Goodwill 77,162 172,387 230,620 78,902 Deferred tax and other assets 20 722 138 — Total assets acquired 203,512 802,738 325,187 193,753 Accounts payable and accrued liabilities (1,569) (895) (1,275) (238) Other current liabilities (478) — (860) — Operating lease liabilities (62) (13,340) (1,519) (1,586) Finance lease liabilities (20,565) (80,026) (27,945) — Deferred tax and other liabilities (10,373) (4,495) (3,290) (2,911) Net assets acquired $ 170,465 $ 703,982 $ 290,298 $ 189,018 (1) For the GPX India Acquisition, the purchase price allocation adjustments since the provisional amounts reported as of September 30, 2021 were not significant. (2) For the Bell Acquisition, the purchase price allocation adjustments since the provisional amounts reported as of December 31, 2020 were not significant. Property, plant and equipment - The fair values of property, plant and equipment acquired from these four 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) Discount Rate GPX India: Customer relationships (1) $ 15,472 15.0 15.0 11.0 % Bell: Customer relationships (1) 75,857 15.0 15.0 8.0 % Packet: Trade names (2) 1,300 3.0 3.0 8.0 % Existing technology (3) 5,100 3.0 3.0 8.0 % Customer relationships (1) 52,100 10.0 10.0 8.0 % Axtel: Customer relationships (1) 22,750 15.0 15.0 13.3 % (1) The fair values were estimated by calculating the present value of estimated future operating cash flows generated from existing customers less costs to realize the revenue. The rates reflect 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. (2) The fair value was estimated using the relief from royalty method, with a relief from royalty rate of 1.0%. (3) The fair value 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 include total cost, time to recreate, opportunity cost and functional obsolescence. The discount rate was utilized for the opportunity cost assumption. 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 the Bell, Packet, and Axtel acquisitions is attributable to our Americas region and goodwill from the GPX India Acquisition is attributable to the Asia-Pacific region. Goodwill from the Bell Acquisition is expected to be deductible for local tax purposes while goodwill from the GPX India, Packet and Axtel Acquisitions are not deductible for local tax purposes. Revenues and net income and loss from operations The operating results of the GPX India Acquisition are reported in the Asia-Pacific region following the date of acquisition. During the year ended December 31, 2021, our results of operations from the GPX India Acquisition included $6.9 million of revenues and an insignificant amount of net income from operations. Transaction costs During the year ended December 31, 2021, the transaction costs for the GPX India Acquisition were insignificant. 2019 Acquisition On April 18, 2019, we 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. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share ("EPS") for the years ended December 31 (in thousands, except per share amounts): 2021 2020 2019 Net income $ 499,728 $ 370,074 $ 507,245 Net (income) loss attributable to non-controlling interests 463 (297) 205 Net income attributable to Equinix $ 500,191 $ 369,777 $ 507,450 Weighted-average shares used to calculate basic EPS 89,772 87,700 84,140 Effect of dilutive securities: Employee equity awards 637 710 539 Weighted-average shares used to calculate diluted EPS 90,409 88,410 84,679 EPS attributable to Equinix: Basic EPS $ 5.57 $ 4.22 $ 6.03 Diluted EPS $ 5.53 $ 4.18 $ 5.99 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): 2021 2020 2019 Common stock related to employee equity awards 206 19 21 Total 206 19 21 |
Assets Held for Sale
Assets Held for Sale | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Assets Held for Sale | Assets Held for Sale In October 2021, we entered into an agreement to form a joint venture in the form of a limited liability partnership with PGIM Real Estate ("PGIM"), to develop and operate xScale TM data centers in Asia-Pacific (the "Asia-Pacific 2 Joint Venture"). xScale data centers are engineered to meet the technical and operational requirements and price points of core hyperscale workload deployments and also offer access to our comprehensive suite of interconnection and edge services. Upon closing, PGIM will contribute cash in exchange for an 80% partnership interest in the Asia-Pacific 2 Joint Venture. We agreed to sell the Sydney 9 ("SY9") data center site in exchange for a 20% partnership interest in the Asia-Pacific 2 Joint Venture and cash proceeds. The assets and liabilities of the SY9 data center, which are currently included within our Asia-Pacific region, were classified as held for sale as of September 30, 2021 and remained held for sale as of December 31, 2021. In June 2021, we entered into an agreement to form another joint venture in the form of a limited liability partnership with GIC, Singapore's sovereign wealth fund ("GIC"), to develop and operate additional xScale data centers in Europe and the Americas (the “EMEA 2 Joint Venture”). The assets and liabilities of the data center sites expected to be sold to the EMEA 2 Joint Venture within a year were classified as held for sale as of June 30, 2021. The transaction was structured to close in phases over the course of two years, pending regulatory approval and other closing conditions. The first phase of the transaction, comprised of data center sites located in Frankfurt, Helsinki, Madrid, Milan and Paris, closed in September 2021. Upon closing, we sold these data center sites in exchange for a total consideration of $144.0 million, which is comprised of $106.4 million of net cash proceeds, a 20% partnership interest in the EMEA 2 Joint Venture with a fair value of $30.4 million, and $7.2 million of receivables. During the year ended December 31, 2021, we recognized an insignificant gain on the sale of these xScale data center facilities. In October 2021, we completed the sale of the Sao Paulo 5 ("SP5") data center to the EMEA 2 Joint Venture in exchange for a total consideration of $34.3 million. During the year ended December 31, 2021, we recognized an insignificant loss on the sale of the SP5 data center. The assets and liabilities of the Warsaw 4 ("WA4") data center site, which is currently included within our EMEA region and is expected to be sold to the EMEA 2 Joint Venture in a future phase, were classified as held for sale as of June 30, 2021 and remained held for sale as of December 31, 2021. Additionally, we entered negotiations to sell the Mexico 3 ("MX3") data center site in connection with the formation of a new joint venture with GIC (the "AMER 1 Joint Venture"). Given that the key terms of the sale had been substantially agreed upon as of September 30, 2021, the assets and liabilities of the MX3 data center, which are currently included within our Americas region, were classified as held for sale as of September 30, 2021 and remained held for sale as of December 31, 2021. In May 2021, we entered into an agreement to sell the Dublin 5 ("DB5") data center site to the EMEA 1 Joint Venture (as defined in Note 6 below). The assets and liabilities of the DB5 data center, which were included within our EMEA region, were classified as held for sale as of June 30, 2021. In July 2021, we sold the DB5 data center in exchange for a total consideration of $77.9 million. During the year ended December 31, 2021, we recognized a total gain of $15.8 million on the sale of the DB5 data center. All assets and liabilities classified as held for sale are reported at the lower of their carrying amounts or fair values less costs to sell. The following table summarizes the assets and liabilities that were classified as assets and liabilities held for sale in the consolidated balance sheet as of December 31, 2021 (in thousands): December 31, 2021 Operating lease right-of-use assets $ 12,835 Property, plant and equipment 260,182 Other assets 3,178 Total assets held for sale $ 276,195 Accounts payable and accrued expenses $ 510 Current portion of operating lease liabilities 2,039 Operating lease liabilities, less current portion 348 Accrued property, plant and equipment 18,127 Total liabilities held for sale (1) $ 21,024 (1) Liabilities held for sale were included within other current liabilities on the consolidated balance sheet. Sale of xScale™ data center facilities in Europe in 2020 In September 2020, we entered into an agreement to sell its Paris 9 ("PA9") data center to the EMEA 1 Joint Venture. The assets and liabilities of the PA9 data center, which were included within our EMEA region, were classified as held for sale as of September 30, 2020. On December 15, 2020, we 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, we recognized an insignificant loss on the sale of the PA9 data center. In connection with this transaction, we have a commitment with the EMEA 1 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 the EMEA 1 Joint Venture transaction noted above, along with the 2019 EMEA 1 Joint Venture transaction, 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, 2021 and 2020, the total fair value of the contingent consideration was $5.3 million and $44.2 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 2020 In April 2020, we entered into an agreement to form a 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 1 Joint Venture”), with ownership upon close for GIC and our 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 our Asia-Pacific region, were classified as held for sale as of June 30, 2020. In the third quarter of 2020, we 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, we closed the transaction including the sale of the three development sites to the Asia-Pacific 1 Joint Venture in exchange for $209.8 million of cash proceeds and $15.6 million of receivables. During the year ended December 31, 2020, we recognized an insignificant gain on the sale of these xScale ™ data center development sites. |
Equity Method Investments
Equity Method Investments | 12 Months Ended |
Dec. 31, 2021 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments | Equity Method Investments The following table summarizes our equity method investments (in thousands), which were included in other assets on the consolidated balance sheets as of December 31 (in thousands): Investee Ownership Percentage 2021 2020 EMEA 1 Joint Venture with GIC 20 % $ 131,516 $ 101,892 EMEA 2 Joint Venture with GIC 20 % 34,944 — Asia-Pacific 1 Joint Venture with GIC 20 % 60,108 43,432 Other Various 18,481 17,747 Total $ 245,049 $ 163,071 Non - Variable Interest Entity (VIE) Joint Venture EMEA 1 Joint Venture In 2019, we entered into a joint venture in the form of a limited liability partnership with GIC (the "EMEA 1 Joint Venture"), to develop and operate xScale data centers in Europe. The EMEA 1 Joint Venture is not a variable interest entity ("VIE") given that both equity investors' interests 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. Our share of income and losses of equity method investments from this joint venture was insignificant for the years ended December 31, 2021 and 2020 and was included in other income (expense) on the consolidated statement of operations. We committed to make future equity contributions to the EMEA 1 Joint Venture for funding its future development. As of December 31, 2021, we had future equity contribution commitments of $26.0 million. VIE Joint Ventures Asia-Pacific 1 and EMEA 2 Joint Ventures In 2020, we entered into a second joint venture in the form of a limited liability partnership with GIC (the "Asia-Pacific 1 Joint Venture") to develop and operate xScale data centers in Asia-Pacific. In 2021, we entered into another joint venture in the form of a limited liability partnership with GIC (the "EMEA 2 Joint Venture") to develop and operate additional xScale data centers in Europe and the Americas (see Note 5 above). For both the Asia-Pacific 1 Joint Venture and the EMEA 2 Joint Venture, we provide certain management services to their operations and earn fees for the performance of such services. Both joint ventures do not have sufficient funds from operations to be self-sustaining, thus are considered VIEs. The power to direct the activities of these joint ventures that most significantly impact economic performance is shared equally between GIC and us. 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 GIC and us. We concluded that neither party is deemed to have predominant control over the Asia-Pacific 1 Joint Venture and EMEA 2 Joint Venture and neither party is considered to be the primary beneficiary. During the years ended December 31, 2021 and 2020, respectively, our share of income and losses of equity method investments from these joint ventures was insignificant both individually and in aggregate, and was included in other income (expense) on the consolidated statement of operations. The following table summarizes our maximum exposure to loss related to the Asia-Pacific 1 Joint Venture and EMEA 2 Joint Venture as of December 31, 2021 (in thousands): Asia-Pacific 1 Joint Venture EMEA 2 Joint Venture Equity Investment $ 60,108 $ 34,944 Outstanding Receivables 2,124 26,953 Future Equity Contribution Commitments 1 11,424 64,875 Maximum Future Payments under Debt Guarantees 2 N/A 3 38,118 Total $ 73,656 $ 164,890 (1) The joint ventures' partners are required to make additional equity contributions proportionately upon certain occurrences, such as a shortfall in capital necessary to complete certain construction phases or make interest payments on their outstanding debt. (2) In connection with our 20% equity investment in the EMEA 2 Joint Venture, we provided the lenders with our guarantees covering 20% of all payments of principal and interest due under EMEA 2 Joint Venture's credit facility agreements (see Note 15). |
Balance Sheet Components
Balance Sheet Components | 12 Months Ended |
Dec. 31, 2021 | |
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): 2021 2020 Cash and cash equivalents: Cash $ 950,677 $ 993,798 Cash equivalents: Money market funds 585,681 611,071 Total cash and cash equivalents 1,536,358 1,604,869 Short-term investments: Certificates of deposit — 4,373 Publicly traded equity securities — 159 Total short-term investments — 4,532 Total cash, cash equivalents and short-term investments $ 1,536,358 $ 1,609,401 As of December 31, 2021 and 2020, cash and cash equivalents included investments which were readily convertible to cash and had original maturity dates of 90 days or less. 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): 2021 2020 Accounts receivable $ 693,444 $ 687,415 Allowance for credit losses (11,635) (10,677) Accounts receivable, net $ 681,809 $ 676,738 The following table summarizes the activity of our allowance for credit losses (in thousands): 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 doubtful accounts 5,069 Net write-offs (10,050) Impact of foreign currency exchange 1,732 Balance as of December 31, 2020 10,677 Provision for doubtful accounts 10,016 Net write-offs (8,295) Impact of foreign currency exchange (763) Balance as of December 31, 2021 $ 11,635 Other Current Assets Other current assets consisted of the following as of December 31 (in thousands): 2021 2020 Prepaid expenses $ 65,224 $ 61,424 Taxes receivable 128,123 125,614 Restricted cash, current 12,188 11,135 Other receivables 59,224 44,333 Derivative instruments 117,432 8,906 Contract assets, current 65,392 13,534 Other current assets (1) 15,156 58,070 Total other current assets $ 462,739 $ 323,016 (1) Other current assets included $5.3 million and $44.2 million of the current portion of the fair value of the contingent consideration from the sale of xScale ™ data center facilities to the EMEA 1 Joint Venture as of December 31, 2021 and 2020, 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): 2021 2020 Core systems $ 10,808,417 $ 9,659,908 Buildings 7,381,644 6,557,121 Leasehold improvements 2,022,617 1,946,644 Construction in progress 967,562 1,363,917 Personal property (1) 1,551,642 1,207,669 Land 970,982 944,094 23,702,864 21,679,353 Less accumulated depreciation (8,257,089) (7,176,269) Property, plant and equipment, net $ 15,445,775 $ 14,503,084 (1) Personal property included $1.2 billion and $885.5 million of capitalized internal-use software as of December 31, 2021 and 2020, respectively. Goodwill and Other Intangibles The following table presents goodwill and other intangible assets, net, for the years ended December 31, 2021 and 2020 (in thousands): 2021 2020 Goodwill: Americas $ 2,210,009 $ 2,212,782 EMEA 2,472,586 2,611,166 Asia-Pacific 689,476 648,605 $ 5,372,071 $ 5,472,553 Intangible assets, net: Intangible assets - customer relationships $ 2,841,372 $ 2,891,060 Intangible assets - trade names 11,471 11,512 Intangible assets - in-place leases 32,760 33,770 Intangible assets - licenses 9,697 9,697 Intangible assets - at-the-money lease contracts (1) 60,455 64,905 Intangible assets - other 12,546 12,802 2,968,301 3,023,746 Accumulated amortization - customer relationships (987,462) (818,370) Accumulated amortization - trade names (3,207) (2,337) Accumulated amortization - in-place leases (22,847) (20,037) Accumulated amortization - licenses (5,821) (6,600) Accumulated amortization - other (2) (13,697) (5,457) (1,033,034) (852,801) Total intangible assets, net $ 1,935,267 $ 2,170,945 (1) In December 2020, we 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 we 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. (2) Accumulated amortization - other includes an insignificant amount of amortization of at-the-money lease contracts. 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, 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 Purchase of GPX — — 77,162 77,162 Impact of foreign currency exchange (2,773) (138,580) (36,291) (177,644) Balance as of December 31, 2021 $ 2,210,009 $ 2,472,586 $ 689,476 $ 5,372,071 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, 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 GPX acquisition — — 15,472 15,472 Amortization of intangibles (133,289) (55,807) (16,388) (205,484) Impact of foreign currency exchange (2,047) (30,278) (13,341) (45,666) Balance as of December 31, 2021 $ 1,327,753 $ 431,942 $ 175,572 $ 1,935,267 (1) For further discussion, refer to footnote 1 of the table on the previous page. Goodwill and intangible assets which are denominated in currencies other than the U.S. Dollar are subject to foreign currency fluctuations. Our 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: 2022 $ 196,744 2023 195,030 2024 193,722 2025 191,158 2026 190,802 Thereafter 967,811 Total $ 1,935,267 Other Assets Other assets consisted of the following as of December 31 (in thousands): 2021 2020 Deferred tax assets, net $ 59,816 $ 66,424 Prepaid expenses (1) 87,758 82,443 Debt issuance costs, net 2,130 4,261 Deposits 70,548 69,043 Restricted cash 908 9,691 Derivative instruments 59,917 2,793 Contract assets, non-current 55,486 54,050 Contract costs 325,510 267,978 Equity method investments 245,049 163,071 Other assets (2) 18,944 56,293 Total other assets $ 926,066 $ 776,047 (1) Prepaid expenses included $46.0 million and $21.1 million of capitalized CCA implementation costs, net as of December 31, 2021 and 2020, respectively. (2) In connection with the Metronode Acquisition in 2018, we had indemnification assets of $42.8 million as of December 31, 2020, which represented the seller's obligation under the purchase agreement to reimburse pre-acquisition tax liabilities settled after the acquisition. The amount was insignificant as of December 31, 2021. Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consisted of the following as of December 31 (in thousands): 2021 2020 Accounts payable $ 84,084 $ 77,705 Accrued compensation and benefits 364,783 317,117 Accrued interest 81,893 79,437 Accrued taxes (1) 117,061 153,804 Accrued utilities and security 94,251 76,910 Accrued other 137,072 139,889 Total accounts payable and accrued expenses $ 879,144 $ 844,862 (1) Accrued taxes included income taxes payable of $51.3 million and $59.8 million as of December 31, 2021 and 2020, respectively. Other Current Liabilities Other current liabilities consisted of the following as of December 31 (in thousands): 2021 2020 Deferred revenue, current $ 109,736 $ 101,258 Customer deposits 16,380 17,115 Derivative instruments 13,373 188,726 Dividends payable, current 12,027 10,873 Asset retirement obligations 8,756 3,993 Other current liabilities 54,247 32,403 Total other current liabilities $ 214,519 $ 354,368 Other Liabilities Other liabilities consisted of the following as of December 31 (in thousands): 2021 2020 Asset retirement obligations $ 108,800 $ 109,776 Deferred tax liabilities, net 340,287 290,366 Deferred revenue, non-current 87,495 71,242 Accrued taxes 124,032 178,371 Dividends payable, non-current 9,750 7,947 Customer deposits 1,534 1,088 Derivative instruments 20,899 211,733 Other liabilities 70,614 78,476 Total other liabilities $ 763,411 $ 948,999 The following table summarizes the activities of our asset retirement obligation ("ARO") (in thousands): 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 Additions 7,483 Adjustments (1) (6,591) Accretion expense 6,518 Impact of foreign currency exchange (3,623) Asset retirement obligations as of December 31, 2021 $ 117,556 (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, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Instruments | Derivatives and Hedging Instruments Derivatives Designated as Hedging Instruments Net Investment Hedges. We are exposed to the impact of foreign exchange rate fluctuations on the value of investments in our foreign subsidiaries whose functional currencies are other than the U.S. Dollar. In order to mitigate the impact of foreign currency exchange rates, we have entered into various foreign currency debt obligations, which are designated as hedges against our net investments in foreign subsidiaries. As of December 31, 2021 and 2020, the total principal amounts of foreign currency debt obligations designated as net investment hedges were $1.5 billion and $1.9 billion, respectively. We also use cross-currency interest rate swaps, which effectively convert a portion of our U.S. dollar-denominated fixed-rate debt to foreign currency-denominated fixed-rate debt, to hedge the currency exposure associated with our net investment in our foreign subsidiaries. As of December 31, 2021 and 2020, we had cross-currency interest rate swaps outstanding with notional amounts of $4.0 billion and $3.3 billion respectively, with maturity dates ranging through 2026. From time to time, we use foreign currency forward contracts to hedge against the effect of foreign exchange rate fluctuations on our net investment in our foreign subsidiaries. As of December 31, 2021 and 2020, the total notional amount of foreign currency forward contracts designated as net investment hedges were $375.7 million and $355.6 million respectively. The effect of net investment hedges on accumulated other comprehensive income and the consolidated statements of operations for the years ended December 31, 2021, 2020 and 2019 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Years Ended December 31, 2021 2020 2019 Foreign currency debt $ 93,945 $ (208,281) $ 47,033 Cross-currency interest rate swaps (included component) (1) 282,935 (218,843) 15,514 Cross-currency interest rate swaps (excluded component) (2) (52,517) (347) 10,737 Foreign currency forward contracts (included component) (1) 2,621 (17,115) — Foreign currency forward contracts (excluded component) (3) (2) 32 — Total $ 326,982 $ (444,554) $ 73,284 Amount of gain or (loss) recognized in earnings: Location of gain or (loss) Years Ended December 31, 2021 2020 2019 Cross-currency interest rate swaps (excluded component) (2) Interest expense $ 44,933 $ 27,196 $ 19,261 Foreign currency forward contracts (excluded component) (3) Interest expense 242 42 — Total $ 45,175 $ 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 . We hedge our foreign currency transaction exposure for forecasted revenues and expenses in our 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 we use to hedge this exposure are designated as cash flow hedges. As of December 31, 2021 and 2020, the total notional amounts of these foreign exchange contracts were $831.2 million and $912.9 million, respectively. As of December 31, 2021, our foreign currency cash flow hedge instruments had maturity dates ranging from January 2022 to December 2023 and we had a net gain of $13.3 million recorded within accumulated other comprehensive income (loss) to be reclassified to revenues and expenses relating to these cash flow hedges as they mature in the next 12 months. As of December 31, 2020, our foreign currency cash flow hedge instruments had maturity dates ranging from January 2021 to December 2022 and we had a net loss of $35.4 million recorded within accumulated other comprehensive income (loss) to be reclassified to revenues and expenses relating to these cash flow hedges as they mature in the next 12 months. We enter into intercompany hedging instruments ("intercompany derivatives") with our wholly-owned subsidiaries in order to hedge certain forecasted revenues and expenses denominated in currencies other than the U.S. Dollar. Simultaneously, we enter into derivative contracts with unrelated third parties to externally hedge the net exposure created by such intercompany derivatives. We hedge 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, 2021, the total notional amount of interest rate locks outstanding was $800.0 million. As of December 31, 2020, we had no interest rate locks outstanding. During the year ended December 31, 2021, interest rate locks with a combined aggregate notional amount of $1.3 billion were settled related to the issuance of senior notes during the year. When interest rate locks are settled, any gain or loss from the transactions is deferred and included as a component of other comprehensive income (loss) and is 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, 2021 and 2020, we had a net loss of $3.9 million and $4.1 million, respectively, recorded within accumulated other comprehensive income (loss) to be reclassified to interest expense in the next 12 months for interest rate locks. The effect of cash flow hedges on accumulated other comprehensive income and the consolidated statements of operations for the years ended December 31, 2021, 2020 and 2019 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Years Ended December 31, 2021 2020 2019 Foreign currency forward and option contracts (included component) (1) $ 67,767 $ (68,573) $ (9,945) Foreign currency option contracts (excluded component) (2) 151 1,655 (1,807) Interest rate locks 9,624 (30,393) 4,972 Total $ 77,542 $ (97,311) $ (6,780) Amount of gain or (loss) reclassified from accumulated other comprehensive income to income: Years Ended December 31, Location of gain or (loss) 2021 2020 2019 Foreign currency forward contracts Revenues $ (39,297) $ 37,198 $ 80,046 Foreign currency forward contracts Costs and operating expenses 20,496 (19,890) (41,262) Interest rate locks Interest Expense (4,056) (1,204) 79 Total $ (22,857) $ 16,104 $ 38,863 Amount of gain or (loss) excluded from effectiveness testing and included in income: Years Ended December 31, Location of gain or (loss) 2021 2020 2019 Foreign currency forward contracts Other income (expense) $ — $ — $ 88 Foreign currency option contracts (excluded component) (2) Revenues (244) (1,761) (1,082) Total $ (244) $ (1,761) $ (994) (1) Included component represents foreign exchange spot rates. (2) Excluded component represents option's time value. Derivatives Not Designated as Hedging Instruments Embedded Derivatives . We are deemed to have foreign currency forward contracts embedded in certain of our 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 our balance sheet at their fair value. The majority of these embedded derivatives arise as a result of our foreign subsidiaries pricing their customer contracts in U.S. Dollars. Economic Hedges of Embedded Derivatives . We use foreign currency forward contracts to manage the foreign exchange risk associated with our 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 . We also use 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 our 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, 2021 and 2020, the total notional amounts of these foreign currency contracts were $3.3 billion and $3.4 billion, respectively. The following table presents the effect of derivatives not designated as hedging instruments in our consolidated statements of operations (in thousands): Amount of gain or (loss) recognized in earnings: Years Ended December 31, Location of gain or (loss) 2021 2020 2019 Embedded derivatives Revenues $ 3,503 $ (3,043) $ 63 Economic hedge of embedded derivatives Revenues (5,937) 2,142 550 Foreign currency forward contracts Other income (expense) 129,496 (127,648) 36,846 Total $ 127,062 $ (128,549) $ 37,459 Fair Value of Derivative Instruments The following table presents the fair value of derivative instruments recognized in our consolidated balance sheets as of December 31, 2021 and 2020 (in thousands): December 31, 2021 December 31, 2020 Assets (1) Liabilities (2) Assets (1) Liabilities (2) Designated as hedging instruments: Cash flow hedges Foreign currency forward and option contracts $ 22,866 $ 7,618 $ 351 $ 52,804 Interest rate locks 8,662 — — — Net investment hedges Cross-currency interest rate swaps 56,921 19,441 — 192,939 Foreign currency forward contracts 156 70 — 17,041 Total designated as hedging 88,605 27,129 351 262,784 Not designated as hedging instruments: Embedded derivatives 3,247 652 3,255 3,858 Economic hedges of embedded derivatives 2,232 637 4,372 12 Foreign currency forward contracts 83,265 5,854 3,721 133,805 Total not designated as hedging 88,744 7,143 11,348 137,675 Total Derivatives $ 177,349 $ 34,272 $ 11,699 $ 400,459 (1) As presented in our consolidated balance sheets within other current assets and other assets. (2) As presented in our consolidated balance sheets within other current liabilities and other liabilities. Offsetting Derivative Assets and Liabilities We enter into master netting agreements with our 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, we do 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, 2021 and 2020 (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, 2021 Derivative assets $ 207,037 $ — $ 207,037 $ (47,538) $ 159,499 Derivative liabilities 49,326 — 49,326 (47,538) 1,788 December 31, 2020 Derivative assets $ 38,447 $ — $ 38,447 $ (35,100) $ 3,347 Derivative liabilities 415,628 — 415,628 (35,100) 380,528 |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2021 | |
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 our investments in money market funds approximates their face value. Such instruments are included in cash equivalents. Our 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 our 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. We determine the fair values of our 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. We use such pricing data as the primary input to make its assessments and determinations as to the ultimate valuation of our investment portfolio and has not made, during the periods presented, any material adjustments to such inputs. We are responsible for our consolidated financial statements and underlying estimates. We use 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 our consolidated statements of operations. Our 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 our 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. We have 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, we did not have any nonfinancial assets or liabilities measured at fair value on a recurring basis during the years ended December 31, 2021 and 2020. Our financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 were as follows (in thousands): Fair Value at December 31, 2021 Fair Value Level 1 Level 2 Assets: Money market and deposit accounts $ 585,681 $ 585,681 $ — Derivative instruments (1) 177,349 — 177,349 $ 763,030 $ 585,681 $ 177,349 Liabilities: Derivative instruments (1) $ 34,272 $ — $ 34,272 (1) Amounts are included within other current assets, other assets, other current liabilities and other liabilities in the consolidated balance sheets. Our financial assets and liabilities measured at fair value on a recurring basis at December 31, 2020 were as follows (in thousands): Fair Value at Fair Value 2020 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, other current liabilities and other liabilities in the consolidated balance sheets. We did not have any nonfinancial assets or liabilities measured at fair value on a recurring basis as of December 31, 2021 and 2020. Other than the contingent consideration related to the EMEA 1 Joint Venture as described in Note 6 above, we did not have any Level 3 financial assets or financial liabilities during the years ended December 31, 2021 and 2020. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Leases | Leases Significant Lease Transactions The following table summarizes the significant lease transactions during the year ended December 31, 2021 (in thousands): Renewal/Termination Options Excluded (1) Net Incremental (2) Lease Quarter Transaction Lease Classification ROU assets ROU liabilities Silicon Valley 8 ("SV8") data center lease extended (3) Q1 Extended lease term by 16 years Two 10-year renewal options Finance Lease $98,141 $100,043 Operating Lease (13,685) (15,586) Hong Kong 3 ("HK3") data center lease extended (3) Q1 Extended lease by 10 years, which included a 5-year renewal option N/A Finance Lease - Building 37,987 37,987 Operating Lease - Land 6,592 6,592 Osaka 3 ("OS3") new data center and office lease Q2 New lease-15 year term 2-year renewal option on a rolling basis Finance Lease 144,122 144,122 (1) These renewal/termination options are not included in determining the lease terms as we are not reasonably certain to exercise them at this time. (2) The net incremental amounts represent the adjustments to the right of use ("ROU") assets and liabilities recorded during the quarter that the transactions were entered. (3) These leases had components previously classified as operating leases. Lease Expenses The components of lease expenses are as follows (in thousands): Years Ended December 31, 2021 2020 Finance lease cost Amortization of right-of-use assets (1) $ 157,057 $ 120,169 Interest on lease liabilities 117,896 113,699 Total finance lease cost 274,953 233,868 Operating lease cost 221,776 217,299 Variable lease cost 33,066 13,588 Total lease cost $ 529,795 $ 464,755 (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, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 113,571 $ 109,558 Operating cash flows from operating leases 258,719 206,512 Financing cash flows from finance leases 165,539 115,288 Right-of-use assets obtained in exchange for lease obligations: (1) Finance leases $ 412,214 $ 487,592 Operating leases 10,446 108,797 As of December 31, 2021 2020 Weighted-average remaining lease term - finance leases (2) 14 years 14 years Weighted-average remaining lease term - operating leases (2) 12 years 12 years Weighted-average discount rate - finance leases 7 % 7 % Weighted-average discount rate - operating leases 4 % 4 % Finance lease ROU assets (3) $ 1,875,696 $ 1,688,032 (1) Represents all non-cash changes in ROU assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) As of December 31, 2021 and December 31, 2020, we recorded accumulated amortization of finance lease assets of $726.4 million and $604.1 million, respectively. Finance lease assets are recorded within property, plant and equipment, net Maturities of Lease Liabilities Maturities of lease liabilities as of December 31, 2021 are as follows (in thousands): Year ended December 31, Operating Leases Finance Leases Total 2022 $ 181,810 $ 252,670 $ 434,480 2023 181,480 239,268 420,748 2024 165,689 240,696 406,385 2025 155,642 237,107 392,749 2026 145,578 227,262 372,840 Thereafter 847,168 1,979,654 2,826,822 Total lease payments 1,677,367 3,176,657 4,854,024 Less imputed interest (426,158) (1,039,148) (1,465,306) Total $ 1,251,209 $ 2,137,509 $ 3,388,718 We entered into agreements with various landlords primarily to lease data center spaces and ground leases which have not yet commenced as of December 31, 2021. These leases will commence between year 2022 and 2024, with lease terms of 3 to 27 years and total lease commitments of approximately $915.6 million. |
Leases | Leases Significant Lease Transactions The following table summarizes the significant lease transactions during the year ended December 31, 2021 (in thousands): Renewal/Termination Options Excluded (1) Net Incremental (2) Lease Quarter Transaction Lease Classification ROU assets ROU liabilities Silicon Valley 8 ("SV8") data center lease extended (3) Q1 Extended lease term by 16 years Two 10-year renewal options Finance Lease $98,141 $100,043 Operating Lease (13,685) (15,586) Hong Kong 3 ("HK3") data center lease extended (3) Q1 Extended lease by 10 years, which included a 5-year renewal option N/A Finance Lease - Building 37,987 37,987 Operating Lease - Land 6,592 6,592 Osaka 3 ("OS3") new data center and office lease Q2 New lease-15 year term 2-year renewal option on a rolling basis Finance Lease 144,122 144,122 (1) These renewal/termination options are not included in determining the lease terms as we are not reasonably certain to exercise them at this time. (2) The net incremental amounts represent the adjustments to the right of use ("ROU") assets and liabilities recorded during the quarter that the transactions were entered. (3) These leases had components previously classified as operating leases. Lease Expenses The components of lease expenses are as follows (in thousands): Years Ended December 31, 2021 2020 Finance lease cost Amortization of right-of-use assets (1) $ 157,057 $ 120,169 Interest on lease liabilities 117,896 113,699 Total finance lease cost 274,953 233,868 Operating lease cost 221,776 217,299 Variable lease cost 33,066 13,588 Total lease cost $ 529,795 $ 464,755 (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, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 113,571 $ 109,558 Operating cash flows from operating leases 258,719 206,512 Financing cash flows from finance leases 165,539 115,288 Right-of-use assets obtained in exchange for lease obligations: (1) Finance leases $ 412,214 $ 487,592 Operating leases 10,446 108,797 As of December 31, 2021 2020 Weighted-average remaining lease term - finance leases (2) 14 years 14 years Weighted-average remaining lease term - operating leases (2) 12 years 12 years Weighted-average discount rate - finance leases 7 % 7 % Weighted-average discount rate - operating leases 4 % 4 % Finance lease ROU assets (3) $ 1,875,696 $ 1,688,032 (1) Represents all non-cash changes in ROU assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) As of December 31, 2021 and December 31, 2020, we recorded accumulated amortization of finance lease assets of $726.4 million and $604.1 million, respectively. Finance lease assets are recorded within property, plant and equipment, net Maturities of Lease Liabilities Maturities of lease liabilities as of December 31, 2021 are as follows (in thousands): Year ended December 31, Operating Leases Finance Leases Total 2022 $ 181,810 $ 252,670 $ 434,480 2023 181,480 239,268 420,748 2024 165,689 240,696 406,385 2025 155,642 237,107 392,749 2026 145,578 227,262 372,840 Thereafter 847,168 1,979,654 2,826,822 Total lease payments 1,677,367 3,176,657 4,854,024 Less imputed interest (426,158) (1,039,148) (1,465,306) Total $ 1,251,209 $ 2,137,509 $ 3,388,718 We entered into agreements with various landlords primarily to lease data center spaces and ground leases which have not yet commenced as of December 31, 2021. These leases will commence between year 2022 and 2024, with lease terms of 3 to 27 years and total lease commitments of approximately $915.6 million. |
Debt Facilities
Debt Facilities | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Debt Facilities | Debt Facilities Mortgage and Loans Payable As of December 31, 2021 and 2020, our mortgage and loans payable consisted of the following (in thousands): 2021 2020 Term loans $ 549,697 $ 1,292,067 Mortgage payable and loans payable 68,691 78,903 618,388 1,370,970 Less amount representing unamortized debt discount and debt issuance cost (354) (3,288) Add amount representing unamortized mortgage premium 1,630 1,861 619,664 1,369,543 Less current portion (33,087) (82,289) $ 586,577 $ 1,287,254 Senior Credit Facility In 2017, we 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 (the "Term Loan Facility"). The credit agreement was subsequently amended to provide an additional senior unsecured term loan in Japanese Yen for approximately $424.7 million at the exchange rate effective on the transaction date. On May 17, 2021, using a portion of the net cash proceeds from the 2026 Notes, 2028 Notes, 2031 Notes, and 2052 Notes as described below, we repaid our outstanding term loans in Swedish Krona and Japanese Yen under our Term Loan Facility for $285.4 million and $374.5 million in U.S. Dollars, respectively, at the exchange rates in effect on May 17, 2021. As of December 31, 2021 and December 31, 2020, the total amounts outstanding under the Term Loan Facility, net of debt issuance costs, were $549.3 million and $1.3 billion, respectively. This outstanding amount of $549.3 million as of December 31, 2021 was excluded from current liabilities as we had the ability and intent to refinance this short-term obligation on a long-term basis. See Note 18 Subsequent Events below. As of December 31, 2021, we had 41 irrevocable letters of credit totaling $90.2 million issued and outstanding under the Revolving Facility, with approximately $1.9 billion remaining available to borrow under the Revolving Facility. Mortgage Payable In October 2013, as a result of the Frankfurt Kleyer 90 Carrier Hotel Acquisition, we 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, we 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 Our senior notes consisted of the following as of December 31 (in thousands): 2021 2020 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 % 2.625% Senior Notes due 2024 November 2019 November 2024 1,000,000 2.79 % 1,000,000 2.79 % 1.250% Senior Notes due 2025 June 2020 July 2025 500,000 1.46 % 500,000 1.46 % 1.000% Senior Notes due 2025 October 2020 September 2025 700,000 1.18 % 700,000 1.18 % 2.900% Senior Notes due 2026 November 2019 November 2026 600,000 3.04 % 600,000 3.04 % 2.875% Euro Senior Notes due 2026 December 2017 February 2026 — — % 611,050 3.04 % 1.450% Senior Notes due 2026 May 2021 May 2026 700,000 1.64 % — — % 0.250% Euro Senior Notes due 2027 March 2021 March 2027 569,150 0.45 % — — % 1.800% Senior Notes due 2027 June 2020 July 2027 500,000 1.96 % 500,000 1.96 % 5.375% Senior Notes due 2027 March 2017 May 2027 — — % 1,250,000 5.51 % 1.550% Senior Notes due 2028 October 2020 March 2028 650,000 1.67 % 650,000 1.67 % 2.000% Senior Notes due 2028 May 2021 May 2028 400,000 2.21 % — — % 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 % 1,100,000 2.27 % 2.500% Senior Notes due 2031 May 2021 May 2031 1,000,000 2.65 % — — % 1.000% Euro Senior Notes due 2033 March 2021 March 2033 682,980 1.18 % — — % 3.000% Senior Notes due 2050 June 2020 July 2050 500,000 3.09 % 500,000 3.09 % 2.950% Senior Notes due 2051 October 2020 September 2051 500,000 3.00 % 500,000 3.00 % 3.400% Senior Notes due 2052 May 2021 February 2052 500,000 3.50 % — — % 11,102,130 9,261,050 Less amount representing unamortized debt discount and debt issuance cost (117,986) (92,773) Add amount representing unamortized debt premium — 186 10,984,144 9,168,463 Less current portion — (150,186) $ 10,984,144 $ 9,018,277 0.250% Euro Senior Notes due 2027 and 1.000% Euro Senior Notes due 2033 On March 10, 2021, we issued €500.0 million, or approximately $594.9 million in U.S. dollars, at the exchange rate in effect on March 10, 2021, aggregate principal amount of 0.250% senior notes due March 15, 2027 (the "2027 Euro Notes") and €600.0 million, or approximately $713.8 million in U.S. dollars, at the exchange rate in effect on March 10, 2021, aggregate principal amount of 1.000% senior notes due March 15, 2033 (the "2033 Euro Notes"). Interest on the notes is payable annually in arrears on March 15 of each year, commencing on March 15, 2022. Total debt issuance costs and debt discounts related to the 2027 Euro Notes and the 2033 Euro Notes were $7.0 million and $14.1 million, respectively. Redemption of 2.875% Euro Senior Notes due 2026 On March 24, 2021, using a portion of the net cash proceeds from the 2027 Euro Senior Notes and 2033 Euro Senior Notes, we redeemed the remaining outstanding 2.875% Euro Senior Notes due 2026 for $590.7 million in U.S. dollars, at the exchange rate in effect on March 24, 2021. In connection with the redemption, we incurred $13.2 million of loss on debt extinguishment, including $8.5 million in redemption premium that was paid in cash and $4.7 million related to the write-off of unamortized debt issuance costs, during the three months ended March 31, 2021. 1.450% Senior Notes due 2026, 2.000% Senior Notes due 2028, 2.500% Senior Notes due 2031 and 3.400% Senior Notes due 2052 On May 17, 2021, we issued $700.0 million aggregate principal amount of 1.450% senior notes due 2026 (the "2026 Notes"), $400.0 million aggregate principal amount of 2.000% senior notes due 2028 (the "2028 Notes"), $1.0 billion aggregate principal amount of 2.500% senior notes due 2031 (the "2031 Notes"), and $500.0 million aggregate principal amount of 3.400% senior notes due 2052 (the "2052 Notes"). Interest on the 2026, 2028 and 2031 notes are payable semi-annually on May 15 and November 15 of each year, commencing on November 15, 2021. Interest on the 2052 notes are payable semi-annually on February 15 and August 15 of each year, commencing on February 15, 2022. Total debt issuance costs and debt discounts related to the 2026 Notes, 2028 Notes, 2031 Notes and 2052 Notes were $6.4 million, $5.3 million, $13.0 million and $9.3 million, respectively. Redemption of 5.375% Senior Notes due 2027 On June 2, 2021, we redeemed all outstanding principal amount under the 5.375% Senior Notes due 2027 with a portion of the net cash proceeds from the issuance of the 2026 Notes, 2028 Notes, 2031 Notes, and 2052 Notes as described above. In connection with the redemption, we incurred $100.6 million of loss on debt extinguishment, including $90.7 million redemption premium that was paid in cash and $9.9 million related to the write-off of unamortized debt issuance costs. All of our senior notes are unsecured and rank equal in right of payment to our existing or future senior indebtedness and senior in right of payment to our 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 our subsidiaries. Each series of senior notes is governed by an indenture and a supplemental indenture between us and U.S. Bank National Association, as trustee. These supplemental indentures contain covenants that limit our ability and the ability of our subsidiaries to, among other things: • incur liens; • enter into sale-leaseback transactions; and • merge or consolidate with any other person. As of December 31, 2021, we are in compliance with all covenants. Subject to compliance with the limitations described above, we may issue an unlimited principal amount of additional notes at later dates under the same indenture as the senior notes. We are not required to make any mandatory redemption with respect to the senior notes; however, upon the event of a change in control, we may be required to offer to purchase the senior notes. Optional Redemption With respect to the rest of the Notes listed below, we may redeem at our 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 0.250% Euro Senior Notes due 2027 January 15, 2027 1.000% Euro Senior Notes due 2033 December 15, 2032 1.450% Senior Notes due 2026 April 15, 2026 2.000% Senior Notes due 2028 March 15, 2028 2.500% Senior Notes due 2031 February 15, 2031 3.400% Senior Notes due 2052 August 15, 2051 Maturities of Debt Instruments The following table sets forth maturities of our debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs, debt discounts and debt premiums, as of December 31, 2021 (in thousands): Years ending: 2022 $ 582,783 2023 6,664 2024 1,006,230 2025 1,204,640 2026 1,304,770 Thereafter 7,617,061 $ 11,722,148 Fair Value of Debt Instruments The following table sets forth the estimated fair values of our mortgage and loans payable and senior notes, including current maturities, as of December 31 (in thousands): 2021 2020 Mortgage and loans payable $ 621,051 $ 1,379,129 Senior notes 11,049,834 9,705,486 The fair values of the mortgage and loans payable, which are not publicly traded, were estimated by considering our credit rating, current rates available to us 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): 2021 2020 2019 Interest expense $ 336,082 $ 406,466 $ 479,684 Interest capitalized 24,505 26,750 32,173 Interest charges incurred $ 360,587 $ 433,216 $ 511,857 Total interest paid in cash, net of capitalized interest, during the years ended December 31, 2021, 2020 and 2019 was $401.9 million, $471.7 million and $521.6 million, respectively. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Stockholders' Equity | Stockholders' Equity Our 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, 2021 and 2020, we had no preferred stock issued and outstanding. Common Stock In March 2019, we 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. We received net proceeds of approximately $1.2 billion, net of underwriting discounts, commissions and offering expenses. In May 2020, we 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. We received net proceeds of approximately $1.7 billion, net of underwriting discounts, commissions and offering expenses. In December 2018, we established an "at the market" equity offering program (the "2018 ATM Program"), under which we could, from time to time, offer and sell shares of our common stock to or through sales agents up to an aggregate of $750.0 million. For the years ended December 31, 2020, and 2019, we 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, we established another ATM program, under which we may, from time to time, offer and sell up to an aggregate of $1.5 billion of our common stock to or through sales agents in "at the market" transactions (the "2020 ATM Program"). For the year ended December 31, 2021, we sold 637,617 shares for approximately $497.9 million, net of payment of commissions to sales agents and other offering expenses, under the 2020 ATM Program. For the year ended December 31, 2020, we did not sell any shares under the 2020 ATM Program. As of December 31, 2021, we had reserved the following authorized but unissued shares of common stock for future issuances: Common stock options and restricted stock units 5,327,514 Common stock employee purchase plans 2,640,649 Total 7,968,163 Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss, net of tax, by components are as follows (in thousands): December 31, 2018 Net December 31, 2019 Net December 31, 2020 Net December 31, 2021 Foreign currency translation adjustment ("CTA") gain (loss) $ (998,603) $ (58,315) $ (1,056,918) $ 548,503 $ (508,415) $ (559,984) $ (1,068,399) Unrealized gain (loss) on cash flow hedges (1) 19,480 (3,842) 15,638 (82,790) (67,152) 60,562 (6,590) Net investment hedge CTA gain (loss) (1) 34,325 73,294 107,619 (444,553) (336,934) 326,982 (9,952) Net actuarial gain (loss) on defined benefit plans (2) (904) (48) (952) 85 (867) 57 (810) $ (945,702) $ 11,089 $ (934,613) $ 21,245 $ (913,368) $ (172,383) $ (1,085,751) (1) Refer to Note 8 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income. (2) We have a defined benefit pension plan covering all employees in two countries where such plans are mandated by law. We do 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 our consolidated balance sheets (as evidenced above in our 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, 2021, the U.S. dollar was generally stronger relative to certain of the currencies of the foreign countries in which we operate as compared to December 31, 2020. Because of this, the U.S. dollar had an overall unfavorable impact on our consolidated financial position because the foreign denominations translated into fewer U.S. dollars as evidenced by an increase in foreign currency translation loss for the year ended December 31, 2021 as reflected in the above table. The volatility of the U.S. dollar as compared to the other currencies in which we operate could have a significant impact on our consolidated financial position and results of operations including the amount of revenue that we report in future periods. Dividends During the years ended December 31, 2021 , 2020 and 2019 , our 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 2021 2/10/2021 2/24/2021 3/17/2021 $ 2.870000 $ 2.870000 $ 256,321 4/28/2021 5/19/2021 6/16/2021 2.870000 2.870000 257,199 7/28/2021 8/18/2021 9/22/2021 2.870000 2.870000 257,769 11/3/2021 11/17/2021 12/15/2021 2.870000 2.870000 258,716 Total $ 11.480000 $ 11.480000 $ 1,030,005 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 (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, 2021, 2020 and 2019, we 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, 2021, for dividends and special distributions attributed to the RSUs, we recorded a short term dividend payable of $12.0 million and a long term dividend payable of $9.7 million for the RSUs that have not yet vested. As of December 31, 2020, for dividends and special distributions attributed to the RSUs, we 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. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation Equity Compensation Plans As of December 31, 2021, our 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 would receive an automatic initial nonstatutory stock option grant as well as an annual non-statutory stock option grant on the date of our regular Annual Meeting of Stockholders. On December 18, 2008, our 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 (the "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 : On April 23, 2020, our 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 our 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, 2021, 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 2,640,649 2020 Equity Incentive Plan 4,660,322 3,969,920 Restricted Stock Units Since 2008, we primarily grant RSUs to our employees, including executives and non-employee directors, in lieu of stock options. We generally grant 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 our 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, 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 RSUs granted 776,628 679.59 RSUs released, vested (633,466) 505.40 Special distribution shares released (34) 297.03 RSUs canceled (123,168) 561.34 RSUs outstanding, December 31, 2021 1,357,594 $ 594.27 1.23 $ 1,148,307 (1) The intrinsic value is calculated based on the market value of the stock as of December 31, 2021. The total fair value of RSUs vested and released during the years ended December 31, 2021, 2020 and 2019 was $472.9 million, $417.0 million and $269.1 million, respectively. Employee Stock Purchase Plan We provide the following disclosures for the 2004 Purchase Plan as of December 31 (dollars, except shares): 2021 2020 2019 Weighted-average purchase price per share $ 467.59 $ 371.71 $ 354.72 Weighted average grant-date fair value per share of shares purchased $ 138.80 $ 114.08 $ 104.84 Number of shares purchased 166,023 167,113 146,640 We use 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: 2021 2020 2019 Range of dividend yield 1.58 - 1.77% 1.94 - 2.08% 2.07 - 2.09% Range of risk-free interest rate 0.01 - 0.21% 0.10 - 1.55% 1.55 - 2.58% Range of expected volatility 25.54 - 41.24% 19.28 - 51.93% 19.27 - 25.55% Weighted-average expected volatility 34.08 % 32.94 % 22.95 % Weighted average expected life (in years) 1.18 1.36 1.24 Stock-Based Compensation The following table presents, by operating expense, our stock-based compensation expense recognized in our consolidated statement of operations for the years ended December 31 (in thousands): 2021 2020 2019 Cost of revenues $ 38,438 $ 32,893 $ 25,355 Sales and marketing 79,144 72,895 56,719 General and administrative 246,192 205,232 154,465 Total $ 363,774 $ 311,020 $ 236,539 Our 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): 2021 2020 2019 RSUs $ 330,077 $ 289,426 $ 217,541 RSAs (1) 10,067 8,289 — Employee stock purchase plan 23,630 13,305 18,998 Total $ 363,774 $ 311,020 $ 236,539 (1) During the year ended December 31, 2020, we awarded 48,799 shares of RSAs. See Note 1 for further discussion. During the years ended December 31, 2021, 2020 and 2019, we capitalized $27.7 million, $20.3 million and $9.1 million, respectively, of stock-based compensation expense as construction in progress in property, plant and equipment. As of December 31, 2021, the total stock-based compensation cost related to unvested equity awards not yet recognized, net of estimated forfeitures, totaled $629.4 million which is expected to be recognized over a weighted-average period of 2.10 years. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
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): 2021 2020 2019 Domestic $ 137,492 $ 18,395 $ 328,806 Foreign 471,460 497,830 363,791 Income before income taxes $ 608,952 $ 516,225 $ 692,597 The tax benefit (expenses) for income taxes consisted of the following components for the years ended December 31, (in thousands): 2021 2020 2019 Current: Federal $ 7,753 $ 4,552 $ (17,906) State and local (156) 1,597 (4,624) Foreign (76,450) (171,092) (135,356) Subtotal (68,853) (164,943) (157,886) Deferred: Federal 11,060 16,553 (7,459) State and local (1,411) 704 (1,775) Foreign (50,020) 1,535 (18,232) Subtotal (40,371) 18,792 (27,466) Income tax expense $ (109,224) $ (146,151) $ (185,352) 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, 2021, 2020 and 2019. The fiscal 2021, 2020, and 2019 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): 2021 2020 2019 Federal tax at statutory rate $ (127,880) $ (109,906) $ (145,445) State and local tax (expense) benefit (1,513) 2,071 (5,852) Deferred tax assets generated in current year not benefited (19,703) (12,852) (5,398) Foreign income tax rate differential (18,918) (16,364) (11,610) Non-deductible expenses (10,579) (4,427) (1,021) Stock-based compensation expense (1,385) (954) (2,105) Change in valuation allowance (595) 390 (2,870) Foreign financing activities (4,805) (11,743) (18,738) Loss on divestments — — (3,277) Uncertain tax positions reserve 50,059 (38,014) (35,724) Tax adjustments related to REIT 39,164 50,107 63,614 Change in deferred tax adjustments (1,251) (136) (10,574) Effect of tax rate change on deferred tax assets (12,297) — — Other, net 479 (4,323) (6,352) Total income tax expense $ (109,224) $ (146,151) $ (185,352) Of the unrecognized tax benefits being realized in the year ended December 31, 2021, approximately $32.0 million is related to the uncertain tax position inherited from the Metronode Acquisition in 2018, which is related to an outstanding income tax audit at the time of the acquisition. The uncertain tax position was covered by an indemnification agreement with the Seller. The income tax audit was settled during 2021, as such, the realization of the unrecognized tax benefits resulted in an impairment of the indemnification asset for the same amount, which has been included in Other Income (Expense) on the Consolidated Statements of Operations for the year ended December 31, 2021. Our accounting policy is to treat any tax on Global Intangible Low-Taxed Income ("GILTI") inclusions as a current period cost included in the tax expense in the year incurred. We believe the GILTI inclusion provision will result in no material financial statement impact provided we satisfy our REIT distribution requirement with respect to the GILTI inclusions. As a result of our conversion to a REIT effective January 1, 2015, it is no longer our 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 material U.S. taxes in the post-REIT conversion periods due to the fact that the majority of our foreign subsidiaries are either QRSs or owned directly by our REIT and QRSs, and the foreign withholding tax effect would be immaterial. We continue to assess the foreign withholding tax impact of our current policy and do not believe the distribution of our foreign earnings would trigger any significant foreign withholding taxes, as the majority of the foreign jurisdictions where we operate 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 our deferred tax assets and liabilities are set out below as of December 31 (in thousands): 2021 2020 (1) Deferred tax assets: Stock-based compensation expense $ 9,057 $ 5,583 Net unrealized losses — 17,268 Operating lease liabilities 225,261 187,912 Capital lease liabilities 13,927 26,655 Deferred revenue 14,429 10,785 Loss carryforwards and tax credits 201,132 117,150 Others, net 7,257 4,296 Gross deferred tax assets 471,063 369,649 Valuation allowance (100,746) (82,344) Total deferred tax assets, net 370,317 287,305 Deferred tax liabilities: Net unrealized gains (1,462) — Property, plant and equipment (262,532) (145,314) Right-of-use assets (233,199) (201,714) Deferred income (33,052) (31,538) Intangible assets (120,543) (132,681) Total deferred tax liabilities (650,788) (511,247) Net deferred tax liabilities $ (280,471) $ (223,942) (1) The prior year amounts presented in the table above have been reclassified to conform with the current year presentation. 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 $2.2 billion as of December 31, 2021. Our accounting for deferred taxes involves weighing positive and negative evidence concerning the realizability of our deferred tax assets in each taxing jurisdiction. After considering evidence such as the nature, frequency and severity of current and cumulative financial reporting losses, the sources of future taxable income, taxable income in carryback years permitted by the tax laws and tax planning strategies, we concluded that valuation allowances were required in certain jurisdictions. The operations in most of the jurisdictions for which a valuation allowance has been established have a history of significant losses as of December 31, 2021. As such, we do not believe these operations have established a sustained history of profitability and that a valuation allowance is, therefore, necessary. We 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, 2021, 2020 and 2019 are as follows (in thousands): 2021 2020 2019 Beginning balance $ 82,344 $ 57,812 $ 57,003 Amounts from acquisitions 964 5,777 (2,707) Divested balances — — (351) Amounts recognized into income 595 (390) 2,870 Current increase 19,539 15,044 697 Impact of foreign currency exchange (2,696) 4,101 300 Ending balance $ 100,746 $ 82,344 $ 57,812 Our NOL carryforwards for federal, state and foreign tax purposes which expire, if not utilized, at various intervals from 2022, are outlined below (in thousands): Expiration Date Federal (1) State Foreign (2) (3) Total 2022 $ 20,808 $ — $ 754 $ 21,562 2023 to 2025 26,838 112 25,876 52,826 2026 to 2028 12,186 — 12,560 24,746 2029 to 2031 — 767 32,849 33,616 2032 to 2034 394 822 — 1,216 2035 to 2037 6,739 2,491 3,838 13,068 Thereafter 437,683 80,613 488,897 1,007,193 $ 504,648 $ 84,805 $ 564,774 $ 1,154,227 (1) The total amount of NOL carryforwards that will not be available to offset our future taxable income after the dividends paid deduction due to Section 382 limitations was $56.7 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, 2021, we had tax credit carryforwards of $7.2 million, which expire, if not utilized, from 2022 to 2031. We also had capital losses of $8.0 million, which can be carried forward indefinitely. The beginning and ending balances of our unrecognized tax benefits are reconciled below for the years ended December 31 (in thousands): 2021 2020 2019 Beginning balance $ 207,759 $ 173,726 $ 150,930 Gross increases related to prior year tax positions 4,547 14,732 — Gross decreases related to prior year tax positions (58,356) — (1,160) Gross increases related to current year tax positions 10,000 29,149 31,332 Decreases resulting from expiration of statute of limitation (10,561) (6,518) (2,112) Decreases resulting from settlements (5,089) (3,330) (5,264) Ending balance $ 148,300 $ 207,759 $ 173,726 We recognize interest and penalties related to unrecognized tax benefits within income tax expense in the consolidated statements of operations. We accrued $13.6 million, $21.3 million, and $14.2 million for interest and penalties as of December 31, 2021, 2020 and 2019, respectively. The unrecognized tax benefits of $148.3 million as of December 31, 2021, of which $3.4 million is subject to an indemnification agreement, if subsequently recognized, will affect our 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 we may be subject to either examination by tax authorities, tax audit settlements, or a lapse in statute of limitations. We are currently unable to estimate the range of possible adjustments to the balance of unrecognized tax benefits. In general, our income tax returns for the years from 2018 through the current year remain open to examination by federal and state taxing authorities. In addition, our tax years of 2005 through current year remain open and subject to examination by local tax authorities in certain foreign jurisdictions in which we have major operations. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Purchase Commitments As a result of our various IBX data center expansion projects, as of December 31, 2021, we were contractually committed for approximately $1.0 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 our customers for installation. We also had numerous other, non-capital purchase commitments in place as of December 31, 2021, such as commitments to purchase power in select locations through 2022 and thereafter, and other open purchase orders for goods, or services to be delivered or provided during 2022 and thereafter. Such other miscellaneous purchase commitments totaled approximately $1.3 billion as of December 31, 2021. For further information on our equity method investments contribution commitments and lease commitments, see Notes 6 and Note 10, respectively, above. Contingent Liabilities We estimate our 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, we record what we 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 our 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 our IBX data center leases or a municipality changing the assessment value in a jurisdiction and, as a result, our property tax obligations may vary from period to period. Based upon the most current facts and circumstances, we make the necessary property tax accruals for each of our reporting periods. However, revisions in our estimates of the potential or actual liability could materially impact our financial position, results of operations or cash flows. Our 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 an audit and appealing the tentative assessment in Brazil. The final settlement of the audit and the outcomes of the appeal are uncertain and may not be resolved in our favor. We regularly assess the likelihood of adverse outcomes resulting from these examinations and appeals that would affect the adequacy of our 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 our expectations, the revision of the estimates of the potential or actual liabilities could materially impact the financial position, results of operations, or cash flows. From time to time, we may have certain contingent liabilities that arise in the ordinary course of our business activities. Contingent liabilities are accrued 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. Employment Agreements We have entered into a severance agreement with certain of our 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 our company. For certain other executive officers, these benefits are only triggered after a change-in-control of our 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, we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is, or was serving, at our 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 we could be required to make under these indemnification agreements is unlimited; however, we have a director and officer insurance policy that could limit our exposure and enable us to recover a portion of any future amounts paid. As a result of our insurance policy that could limit our exposure and enable us to recover some or all of amounts paid, our estimated fair value of these indemnification agreements is minimal. We have no liabilities recorded for these agreements as of December 31, 2021. We enter into standard indemnification agreements in the ordinary course of business. Pursuant to these agreements, we indemnify, hold harmless, and agree to reimburse the indemnified party for losses suffered or incurred by the indemnified party, generally our 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 our offerings. The term of these indemnification agreements is generally perpetual any time after execution of the agreement. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited; however, we have never incurred material costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, our estimated fair value of these agreements is minimal. We have no liabilities recorded for these agreements as of December 31, 2021. We enter into arrangements with our business partners, whereby the business partner agrees to provide services as a subcontractor for our installations. Accordingly, we enter into standard indemnification agreements with our customers, whereby we indemnify them for other acts, such as personal property damage, of our subcontractors. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited; however, we have general and umbrella insurance policies that could enable us to recover a portion of any amounts paid. We have never incurred material costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, our estimated fair value of these agreements is minimal. We do not have significant liabilities recorded for these agreements as of December 31, 2021. We have service level commitment obligations to certain of our customers. As a result, service interruptions or significant equipment damage in our IBX data centers, whether or not within our control, could result in service level commitments to these customers. Our liability insurance may not be adequate to cover those expenses. In addition, any loss of services, equipment damage or inability to meet our service level commitment obligations could reduce the confidence of our customers and could consequently impair our ability to obtain and retain customers, which would adversely affect both our ability to generate revenues and our operating results. We generally have the ability to determine such service level credits prior to the associated revenue being recognized. We do not have significant liabilities in connection with service level credits as of December 31, 2021. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions Joint Venture Related Party Transactions We have lease arrangements and provide various services to the EMEA 1 Joint Venture, Asia-Pacific 1 Joint Venture and EMEA 2 Joint Venture (the "Joint Ventures") through multiple agreements, including sales and marketing, development management, facilities management, and asset management services. These transactions are generally considered to have been negotiated at arm's length. The following table presents the revenues and expenses from these arrangements with the Joint Ventures in our consolidated statements of operations (in thousands): Years Ended December 31, Related Party Nature of Transaction 2021 2020 2019 EMEA 1 Joint Venture Revenues $ 42,387 $ 21,306 $ 3,707 EMEA 1 Joint Venture Expenses (1) 8,303 14,935 2,076 Asia-Pacific 1 Joint Venture Revenues 21,223 588 — EMEA 2 Joint Venture Revenues 7,097 — — (1) We have a sub-lease agreement with the EMEA 1 Joint Venture to sub-lease a portion of London ("LD") 10-2 data center or former LD10 data center, for a total of 15 years. Balances primarily consist of rent expenses for the LD10-2 data center. The following table presents the assets and liabilities from related party transactions with the Joint Ventures in our consolidated balance sheets (in thousands): As of December 31, Related Party Balance Sheet Line Item 2021 2020 EMEA 1 Joint Venture Receivables $ 32,077 $ 6,459 Contract Assets (1) 54,503 5,614 Finance Lease R ight of Use Assets 118,817 127,197 Other Liabilities and Payables (2) 2,483 17,646 Other Liabilities and Payables - construction obligation (3) 39,382 55,607 Deferred Revenue 16,886 — Finance Lease R ight of Use Liabilities 124,918 130,756 Asia- Pacific 1 Joint Venture Receivables 2,124 16,936 Payables 121 — EMEA 2 Joint Venture Receivables 26,953 — Contract Assets 1,492 — Payables 1,755 — (1) A portion of the EMEA 1 Joint Venture contract asset balance relates to commitments to complete a residual portion of the Paris 9 data center sold to the EMEA 1 Joint Venture, which is reimbursable in full upon completion. (2) Balance as of December 31, 2021 primarily pertained to commercial service agreements. Balance as of December 31, 2020 pertained to the lease agreement in place for the construction of the Frankfurt 9 xScale data center. As of December 31, 2021 the lease has commenced and was accounted as a sale-type lease. (3) Balances primarily relate to obligations to pay for future construction for certain sites sold as a part of the EMEA 1 Joint Venture transaction. The prior year amounts presented in the table above have been reclassified to conform with the current year presentation. We have also sold certain data center facilities to our Joint Ventures and recognized gains or losses on asset sales; for more information refer to Note 5 above. Other Related Party Transactions We have several significant stockholders and other related parties that are also customers and/or vendors. Our activity of other related party transactions was as follows (in thousands): Years ended December 31, 2021 2020 2019 Revenues $ 140,947 $ 95,264 $ 25,905 Costs and services 5,337 10,849 15,844 As of December 31, 2021 2020 Accounts receivable $ 27,997 $ 6,519 Accounts payable 20 — |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2021 | |
Segment Reporting [Abstract] | |
Segment Information | Segment Information While we have one primary line of business, which is the design, build-out and operation of IBX data centers, we have determined that we have three reportable segments comprised of our Americas, EMEA and Asia-Pacific geographic regions. Our chief operating decision-maker evaluates performance, makes operating decisions and allocates resources based on our revenues and adjusted EBITDA performance both on a consolidated basis and based on these three reportable segments. Intercompany transactions between segments are excluded for management reporting purposes. The following tables present revenue information disaggregated by product lines and geographic areas (in thousands): Year Ended December 31, 2021 Americas EMEA Asia-Pacific Total Colocation (1) $ 2,002,253 $ 1,597,830 $ 1,042,131 $ 4,642,214 Interconnection 678,677 259,538 223,287 1,161,502 Managed infrastructure 168,577 124,937 87,343 380,857 Other (1) 12,430 19,626 3,856 35,912 Recurring revenues 2,861,937 2,001,931 1,356,617 6,220,485 Non-recurring revenues 159,814 153,285 101,953 415,052 Total $ 3,021,751 $ 2,155,216 $ 1,458,570 $ 6,635,537 (1) Includes some leasing and hedging activities. Year Ended December 31, 2020 Americas 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. Year Ended December 31, 2019 Americas 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. Total revenues attributed to the U.S. were $2.6 billion, $2.5 billion and $2.4 billion for the year ended December 31, 2021, 2020, and 2019, respectively. There is no country outside of the U.S. from which we derived revenues that exceeded 10% of our total revenues during any of these periods. No single customer accounted for 10% or greater of our accounts receivable or revenues for the year ended December 31, 2021, 2020, and 2019. We define adjusted EBITDA as income from operations excluding depreciation, amortization, accretion, stock-based compensation expense, restructuring charges, impairment charges, transaction costs and gain or loss on asset sales as presented below for the years ended December 31 (in thousands): 2021 2020 2019 Adjusted EBITDA: Americas $ 1,326,460 $ 1,186,022 $ 1,237,622 EMEA 1,033,333 974,246 827,980 Asia-Pacific 784,591 692,630 622,125 Total adjusted EBITDA 3,144,384 2,852,898 2,687,727 Depreciation, amortization and accretion expense (1,660,524) (1,427,010) (1,285,296) Stock-based compensation expense (363,774) (311,020) (236,539) Transaction costs (22,769) (55,935) (24,781) Impairment charges — (7,306) (15,790) Gain on asset sales 10,845 1,301 44,310 Income from operations $ 1,108,162 $ 1,052,928 $ 1,169,631 We also provide the following segment disclosures related to our operations as follows for the years ended December 31 (in thousands): 2021 2020 2019 Depreciation and amortization: Americas $ 865,910 $ 729,611 $ 669,498 EMEA 455,651 389,332 353,765 Asia-Pacific 334,729 304,426 261,574 Total $ 1,656,290 $ 1,423,369 $ 1,284,837 Capital expenditures: Americas $ 970,217 $ 866,989 $ 805,360 EMEA 1,049,279 888,239 733,326 Asia-Pacific 732,016 527,276 540,835 Total $ 2,751,512 $ 2,282,504 $ 2,079,521 Our 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): 2021 2020 Americas (1) $ 6,777,174 $ 6,429,861 EMEA 5,125,341 5,002,271 Asia-Pacific 3,543,260 3,070,952 Total Property, plant and equipment, net $ 15,445,775 $ 14,503,084 (1) Includes $5.4 billion and $5.2 billion, respectively, of property, plant and equipment, net attributed to the U.S. as of December 31, 2021 and 2020. 2021 2020 Americas (1) $ 297,300 $ 363,515 EMEA 470,330 547,547 Asia-Pacific 514,788 563,995 Total Operating lease right-of-use assets $ 1,282,418 $ 1,475,057 (1) Includes $271.0 million and $334.7 million of operating lease ROU assets attributed to the U.S. as of December 31, 2021 and 2020, respectively. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events Declaration of dividends On February 16, 2022, we declared a quarterly cash dividend of $3.10 per share, which is payable on March 23, 2022 to our common stockholders of record as of the close of business on March 7, 2022. Credit Facility Refinancing On January 7, 2022, we closed our new credit facility, consisting of a $4.0 billion Revolving Credit Facility, which replaces our existing 2017 $2.0 billion Revolving Credit Facility, and a £500.0 million Term Loan. Proceeds from the £500.0 million Term Loan were used to repay our existing £406.3 million Term Loan, whereby we received a total net proceeds, net of the repayment and transaction expenses, of approximately £88.0 million, or $119.5 million at the exchange rate on that date. Asia-Pacific 3 Joint Venture ("APAC 3") Signing On January 27, 2022, we entered into an agreement to form a $525.0 million joint venture in the form of a limited liability partnership with GIC Private Limited, Singapore's sovereign wealth fund ("GIC"), to develop and operate two xScale data centers in Seoul, Korea. |
Schedule III - Real Estate and
Schedule III - Real Estate and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 (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) $— $— $— $— $151,612 $— $151,612 $(82,544) 2010 AT2 ATLANTA (METRO) — — — — 38,799 — 38,799 (28,723) 2010 AT3 ATLANTA (METRO) — — — — 4,453 — 4,453 (3,348) 2010 AT4 ATLANTA (METRO) — 5,400 20,209 — 20,446 5,400 40,655 (13,506) 2017 AT5 ATLANTA (METRO) — — 5,011 — 2,207 — 7,218 (5,101) 2017 BG1 BOGOTÁ (METRO), COLOMBIA — — 8,779 749 5,408 749 14,187 (5,040) 2017 BG2 BOGOTÁ (METRO), COLOMBIA — 4,815 — — 10,730 4,815 10,730 — 2021 BO1 BOSTON (METRO) — — — — 6,128 — 6,128 (6,128) 2010 BO2 BOSTON (METRO) — 2,500 30,383 — 36,598 2,500 66,981 (16,486) 2017 CH1 CHICAGO (METRO) — — — — 162,703 — 162,703 (108,670) 1999 CH2 CHICAGO (METRO) — — — — 118,498 — 118,498 (63,074) 2005 CH3 CHICAGO (METRO) — 9,759 — 351 354,558 10,110 354,558 (155,151) 2006 CH4 CHICAGO (METRO) — — — — 22,911 — 22,911 (14,761) 2009 CH7 CHICAGO (METRO) — 670 10,564 — 8,164 670 18,728 (6,185) 2017 CL1 CALGARY (METRO), CANADA — — 11,572 — 2,719 — 14,291 (3,419) 2020 CL2 CALGARY (METRO), CANADA — — 14,145 — 5,223 — 19,368 (4,293) 2020 CL3 CALGARY (METRO), CANADA — 7,910 69,334 395 15,473 8,304 84,807 (9,371) 2020 CU1 CULPEPER (METRO) — 1,019 37,581 — 5,734 1,019 43,315 (17,847) 2017 CU2 CULPEPER (METRO) — 1,244 48,000 — 12,546 1,244 60,546 (19,028) 2017 CU3 CULPEPER (METRO) — 1,088 37,387 — 3,104 1,088 40,491 (14,112) 2017 CU4 CULPEPER (METRO) — 1,372 27,832 — 34,983 1,372 62,815 (12,897) 2017 DA1 DALLAS (METRO) — — — — 69,250 — 69,250 (42,245) 2000 DA2 DALLAS (METRO) — — — — 81,911 — 81,911 (34,463) 2010 DA3 DALLAS (METRO) — — — — 97,996 — 97,996 (45,222) 2010 DA4 DALLAS (METRO) — — — — 16,789 — 16,789 (9,588) 2010 DA6 DALLAS (METRO) — — 20,522 — 174,231 — 194,753 (48,576) 2012 DA7 DALLAS (METRO) — — — — 30,709 — 30,709 (16,356) 2015 DA9 DALLAS (METRO) — 610 15,398 — 6,868 610 22,265 (7,481) 2017 DA11 DALLAS (METRO) — — — — 175,787 — 175,787 (13,565) 2018 INFOMART BUILDING DALLAS (METRO) — 24,380 337,643 3,293 26,974 27,673 364,617 (42,321) 2018 DC1 WASHINGTON, DC (METRO) — — — — 5,477 — 5,477 (2,251) 1999 DC2 WASHINGTON, DC (METRO) — — — 5,047 126,667 5,047 126,667 (98,822) 1999 DC3 WASHINGTON, DC (METRO) — — 37,451 — 50,459 — 87,910 (55,075) 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 — 74,265 1,906 81,537 (59,399) 2005 DC5 WASHINGTON, DC (METRO) — 1,429 4,983 — 93,177 1,429 98,160 (70,435) 2005 DC6 WASHINGTON, DC (METRO) — 1,429 5,082 — 92,783 1,429 97,865 (55,372) 2005 DC7 WASHINGTON, DC (METRO) — — — — 19,080 — 19,080 (14,401) 2010 DC10 WASHINGTON, DC (METRO) — — 44,601 — 88,492 — 133,093 (99,617) 2011 DC11 WASHINGTON, DC (METRO) — 1,429 5,082 — 187,604 1,429 192,686 (72,664) 2005 DC12 WASHINGTON, DC (METRO) — — 101,783 — 81,604 — 183,387 (37,732) 2017 DC13 WASHINGTON, DC (METRO) — 5,500 25,423 — 21,656 5,500 47,079 (16,183) 2017 DC14 WASHINGTON, DC (METRO) — 2,560 33,511 — 15,726 2,560 49,237 (14,491) 2017 DC15 WASHINGTON, DC (METRO) — 1,965 — 1,965 170,776 3,929 170,776 (12,708) 2018 DC21 WASHINGTON, DC (METRO) — 1,507 — — 100,804 1,507 100,804 (6,622) 2019 DC97 WASHINGTON, DC (METRO) — — 2,021 — 847 — 2,867 (1,564) 2017 DE1 DENVER (METRO) — — — — 9,849 — 9,849 (8,845) 2010 DE2 DENVER (METRO) — 5,240 23,053 — 31,064 5,240 54,116 (17,837) 2017 HO1 HOUSTON (METRO) — 1,440 23,780 — 33,281 1,440 57,060 (18,065) 2017 KA1 KAMLOOPS (METRO), CANADA — 2,991 46,983 149 6,768 3,140 53,751 (5,537) 2020 LA1 LOS ANGELES (METRO) — — — — 110,808 — 110,808 (75,153) 1999 LA2 LOS ANGELES (METRO) — — — — 10,582 — 10,582 (9,250) 2000 LA3 LOS ANGELES (METRO) — — 34,727 3,959 17,368 3,959 52,095 (43,042) 2005 LA4 LOS ANGELES (METRO) — 19,333 137,630 — 58,351 19,333 195,981 (102,469) 2009 LA7 LOS ANGELES (METRO) — 7,800 33,621 — 56,409 7,800 90,030 (17,280) 2017 MI1 MIAMI (METRO) — 18,920 127,194 — 112,732 18,920 239,925 (74,698) 2017 MI2 MIAMI (METRO) — — — — 22,677 — 22,677 (15,028) 2010 MI3 MIAMI (METRO) — — — — 33,886 — 33,886 (20,458) 2012 MI6 MIAMI (METRO) — 4,750 23,017 — 9,848 4,750 32,865 (13,768) 2017 MO1 MONTERREY (METRO), MEXICO — — 2,572 — 4,557 — 7,129 (909) 2020 MT1 MONTREAL (METRO), CANADA — — 76,932 — 12,745 — 89,678 (13,974) 2020 MX1 MEXICO CITY (METRO), MEXICO — 1,090 53,980 — 35,428 1,090 89,409 (8,341) 2020 MX2 MEXICO CITY (METRO), MEXICO — 1,090 16,061 — 52,318 1,090 68,379 (1,979) 2020 NY1 NEW YORK (METRO) — — — — 71,716 — 71,716 (47,232) 1999 NY2 NEW YORK (METRO) — — — 17,859 207,035 17,859 207,035 (135,182) 2000 NY4 NEW YORK (METRO) — — — — 364,176 — 364,176 (211,873) 2006 NY5 NEW YORK (METRO) — — — — 296,054 — 296,054 (99,005) 2010 NY6 NEW YORK (METRO) — — — — 95,441 — 95,441 (18,988) 2010 NY7 NEW YORK (METRO) — — 24,660 — 172,048 — 196,708 (142,718) 2010 NY9 NEW YORK (METRO) — — — — 50,109 — 50,109 (38,190) 2010 NY11 NEW YORK (METRO) — 2,050 58,717 — 24,588 2,050 83,305 (26,847) 2017 NY13 NEW YORK (METRO) — — 31,603 8,300 6,583 8,300 38,187 (18,342) 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) OT1 OTTAWA (METRO), CANADA — 1,586 39,128 75 4,490 1,661 43,618 (5,397) 2020 PH1 PHILADELPHIA (METRO) — — — — 44,638 — 44,638 (21,454) 2010 RJ1 RIO DE JANEIRO (METRO), BRAZIL — — — — 18,064 — 18,064 (13,455) 2011 RJ2 RIO DE JANEIRO (METRO), BRAZIL — — 2,012 1,181 55,254 1,181 57,266 (19,885) 2012 SE2 SEATTLE (METRO) — — — — 31,109 — 31,109 (24,939) 2010 SE3 SEATTLE (METRO) — — 1,760 — 101,258 — 103,018 (63,601) 2011 SE4 SEATTLE (METRO) — 4,000 12,903 — 37,022 4,000 49,925 (11,090) 2017 SJ1 SAINT JOHN (METRO), CANADA — 162 14,276 8 1,428 170 15,703 (1,861) 2020 SP1 SÃO PAULO (METRO), BRAZIL — — 10,188 — 14,870 — 25,058 (18,478) 2011 SP2 SÃO PAULO (METRO), BRAZIL — — — 2,874 48,068 2,874 48,068 (35,184) 2011 SP3 SÃO PAULO (METRO), BRAZIL — 7,222 72,997 — 42,690 7,223 115,688 (37,026) 2017 SP4 SÃO PAULO (METRO), BRAZIL — — 22,027 — 57,782 — 79,809 (15,875) 2017 SV1 SILICON VALLEY (METRO) — — — 15,545 144,829 15,545 144,829 (100,483) 1999 SV2 SILICON VALLEY (METRO) — — — — 157,926 — 157,926 (100,979) 2003 SV3 SILICON VALLEY (METRO) — — — — 77,334 — 77,334 (41,552) 1999 SV4 SILICON VALLEY (METRO) — — — — 102,684 — 102,684 (26,207) 2005 SV5 SILICON VALLEY (METRO) — 6,238 98,991 — 101,852 6,238 200,843 (91,142) 2010 SV6 SILICON VALLEY (METRO) — — 15,585 — 30,329 — 45,914 (42,339) 2010 SV8 SILICON VALLEY (METRO) — — — — 157,147 — 157,147 (42,067) 2010 SV10 SILICON VALLEY (METRO) — 12,646 123,594 — 93,742 12,646 217,336 (42,743) 2017 SV11 SILICON VALLEY (METRO) — — — — 147,118 — 147,118 (3,081) 2019 SV12 SILICON VALLEY (METRO) — 20,313 — — 8,586 20,313 8,586 — 2015 SV13 SILICON VALLEY (METRO) — — 3,758 — — — 3,758 (3,225) 2017 SV14 SILICON VALLEY (METRO) — 3,638 5,503 — 3,782 3,638 9,285 (3,044) 2017 SV15 SILICON VALLEY (METRO) — 7,651 23,060 — 9,875 7,651 32,934 (11,023) 2017 SV16 SILICON VALLEY (METRO) — 4,271 15,018 — 5,056 4,271 20,074 (6,506) 2017 SV17 SILICON VALLEY (METRO) — — 17,493 — 3,368 — 20,862 (14,966) 2017 TR1 TORONTO (METRO), CANADA — — — — 92,608 — 92,608 (38,106) 2010 TR2 TORONTO (METRO), CANADA — — 21,113 107,044 142,753 107,044 163,865 (32,874) 2015 TR4 TORONTO (METRO), CANADA — — 13,985 — 4,014 — 17,999 (5,308) 2020 TR5 MARKHAM (METRO), CANADA — — 24,913 — 2,594 — 27,507 (5,928) 2020 TR6 BRAMPTON (METRO), CANADA — 9,386 58,704 3,316 — 12,702 58,704 (6,151) 2020 TR7 BRAMPTON (METRO), CANADA — 9,855 71,966 — 18,170 9,854 90,136 (13,019) 2020 VA1 BURNABY (METRO), CANADA — — 4,668 — 2,233 — 6,901 (1,048) 2020 WI1 WINNIPEG (METRO), CANADA — — 57,234 — 4,976 — 62,210 (2,379) 2020 OTHERS (5) — 76,482 52,099 — 122,301 76,482 174,400 (21,468) Various EMEA: 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) AD1 ABU DHABI (METRO), UNITED ARAB EMIRATES — — — — 75,587 — 75,587 (11,797) 2017 AM1 AMSTERDAM (METRO), THE NETHERLANDS — — — — 98,785 — 98,785 (52,871) 2008 AM2 AMSTERDAM (METRO), THE NETHERLANDS — — — — 83,244 — 83,244 (34,928) 2008 AM3 AMSTERDAM (METRO), THE NETHERLANDS — — 27,099 — 134,758 — 161,857 (70,989) 2011 AM4 AMSTERDAM (METRO), THE NETHERLANDS — — — — 223,115 — 223,115 (36,326) 2016 AM5 AMSTERDAM (METRO), THE NETHERLANDS — — 92,199 — 16,153 — 108,352 (37,422) 2016 AM6 AMSTERDAM (METRO), THE NETHERLANDS — 6,616 50,876 539 92,063 7,155 142,938 (32,929) 2016 AM7 AMSTERDAM (METRO), THE NETHERLANDS — — 7,397 — 139,860 — 147,257 (25,536) 2016 AM8 AMSTERDAM (METRO), THE NETHERLANDS — — — — 11,692 — 11,692 (6,119) 2016 AM11 AMSTERDAM (METRO), THE NETHERLANDS — — 6,405 416 13,007 416 19,412 (2,761) 2019 BA1 BARCELONA (METRO), SPAIN — — 9,443 — 16,468 — 25,911 (9,654) 2017 BX1 BORDEAUX (METRO), FRANCE — 1,916 3,507 118 31,230 2,034 34,737 (778) 2020 DB1 DUBLIN (METRO), IRELAND — — — — 5,393 — 5,393 (4,455) 2016 DB2 DUBLIN (METRO), IRELAND — — 12,460 — 9,493 — 21,953 (10,735) 2016 DB3 DUBLIN (METRO), IRELAND — 3,334 54,387 271 20,819 3,605 75,206 (24,039) 2016 DB4 DUBLIN (METRO), IRELAND — — 26,875 — 19,088 — 45,963 (10,977) 2016 DU1 DÜSSELDORF (METRO), GERMANY — — — 8,235 33,389 8,235 33,389 (19,657) 2000 DX1 DUBAI (METRO), UNITED ARAB EMIRATES — — — — 93,205 — 93,205 (41,746) 2008 DX2 DUBAI (METRO), UNITED ARAB EMIRATES — — — — 667 — 667 (339) 2017 DX3 DUBAI (METRO), UNITED ARAB EMIRATES — 6,737 — — 5,460 6,737 5,460 (376) 2020 EN1 ENSCHEDE (METRO), THE NETHERLANDS — — — — 32,914 — 32,914 (24,331) 2008 FR2 FRANKFURT (METRO), GERMANY — — — 20,843 545,921 20,843 545,921 (171,728) 2007 FR4 FRANKFURT (METRO), GERMANY — 11,578 9,307 943 103,983 12,521 113,290 (39,794) 2009 FR5 FRANKFURT (METRO), GERMANY 30,310 — — 14,210 224,488 14,210 224,488 (59,488) 2012 FR6 FRANKFURT (METRO), GERMANY — — — — 140,753 — 140,753 (33,382) 2016 FR7 FRANKFURT (METRO), GERMANY — — 43,634 — 37,353 — 80,987 (31,181) 2016 FR8 FRANKFURT (METRO), GERMANY — 20,430 58,199 — 48,445 20,430 106,644 (1,119) 2020 FR11x FRANKFURT (METRO), GERMANY — — — — 31,566 — 31,566 (154) 2020 FR13 FRANKFURT (METRO), GERMANY — — — — 3,218 — 3,218 — 2021 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) GN1 GENOA (METRO), ITALY — — 1,988 — 2,772 — 4,760 (51) 2020 GV1 GENEVA (METRO), SWITZERLAND — — — — 26,319 — 26,319 (9,864) 2004 GV2 GENEVA (METRO), SWITZERLAND — — — — 44,778 — 44,778 (22,820) 2009 HE1 HELSINKI (METRO), FINLAND — — — — 4,008 — 4,008 (3,554) 2016 HE3 HELSINKI (METRO), FINLAND — — — — 15,371 — 15,371 (10,364) 2016 HE4 HELSINKI (METRO), FINLAND — — 29,092 — 7,063 — 36,155 (20,133) 2016 HE5 HELSINKI (METRO), FINLAND — — 7,564 — 19,633 — 27,197 (7,027) 2016 HE6 HELSINKI (METRO), FINLAND — — 17,204 1,594 30,980 1,594 48,185 (15,811) 2016 HE7 HELSINKI (METRO), FINLAND — 7,348 6,946 1,141 51,331 8,488 58,277 (5,421) 2018 HH1 HAMBURG (METRO), GERMANY — 3,612 5,360 610 47,875 4,222 53,235 (4,466) 2018 IL2 ISTANBUL (METRO), TURKEY — 14,460 39,289 — 41,641 14,460 80,930 (10,234) 2017 LD3 LONDON (METRO), UNITED KINGDOM — — — — 15,380 — 15,380 (14,747) 2000 LD4 LONDON (METRO), UNITED KINGDOM — — 23,044 — 137,786 — 160,831 (59,443) 2007 LD5 LONDON (METRO), UNITED KINGDOM — — 16,412 — 189,336 — 205,748 (107,560) 2010 LD6 LONDON (METRO), UNITED KINGDOM — — — — 151,375 — 151,375 (45,283) 2013 LD7 LONDON (METRO), UNITED KINGDOM — — — 2,271 271,256 2,271 271,256 (16,921) 2018 LD8 LONDON (METRO), UNITED KINGDOM — — 107,544 — 88,016 — 195,560 (59,180) 2016 LD9 LONDON (METRO), UNITED KINGDOM — — 181,431 — 176,718 — 358,149 (100,677) 2016 LD10 LONDON (METRO), UNITED KINGDOM — — 40,251 — 108,488 — 148,739 (22,593) 2017 LS1 LISBON (METRO), PORTUGAL — — 7,374 3,517 11,379 3,517 18,753 (4,690) 2017 MA1 MANCHESTER (METRO), UNITED KINGDOM — — — — 15,457 — 15,457 (9,016) 2016 MA2 MANCHESTER (METRO), UNITED KINGDOM — — — — 10,606 — 10,606 (9,336) 2016 MA3 MANCHESTER (METRO), UNITED KINGDOM — — 44,931 — 9,721 — 54,652 (31,547) 2016 MA4 MANCHESTER (METRO), UNITED KINGDOM — — 6,697 — 6,576 — 13,272 (9,222) 2016 MA5 MANCHESTER (METRO), UNITED KINGDOM — 3,706 6,874 407 73,093 4,113 79,967 (328) 2020 MD1 MADRID (METRO), SPAIN — — 7,917 7,825 7,236 7,825 15,153 (5,701) 2017 MD2 MADRID (METRO), SPAIN — — 40,952 — 70,588 — 111,540 (35,723) 2017 ML2 MILAN (METRO), ITALY — — — — 24,112 — 24,112 (15,321) 2016 ML3 MILAN (METRO), ITALY — — — 3,616 44,350 3,616 44,350 (15,565) 2016 ML4 MILAN (METRO), ITALY — — — — 9,293 — 9,293 (7,720) 2016 ML5 MILAN (METRO), ITALY — 6,894 20,952 — 74,033 6,894 94,985 (1,903) 2019 MU1 MUNICH (METRO), GERMANY — — — — 39,084 — 39,084 (19,432) 2007 MU3 MUNICH (METRO), GERMANY — — — — 5,909 — 5,909 (2,714) 2010 MU4 MUNICH (METRO), GERMANY — 12,127 35,120 — 51,418 12,127 86,538 (15) 2020 PA1 PARIS (METRO), FRANCE — — — — 20,946 — 20,946 (16,853) 2007 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) PA2 & PA3 PARIS (METRO), FRANCE — — 29,615 23,608 326,618 23,608 356,233 (144,908) 2007 PA4 PARIS (METRO), FRANCE — 1,598 9,503 5,516 246,653 7,114 256,156 (88,191) 2011 PA5 PARIS (METRO), FRANCE — — 16,554 — 11,829 — 28,383 (8,143) 2016 PA6 PARIS (METRO), FRANCE — — — — 73,366 — 73,366 (38,093) 2016 PA7 PARIS (METRO), FRANCE — — — — 23,419 — 23,419 (11,932) 2016 PA10 PARIS (METRO), FRANCE — — 100,933 — — — 100,933 — 2021 SA1 SEVILLE (METRO), SPAIN — — 1,567 — 1,572 — 3,139 (2,162) 2017 SK1 STOCKHOLM, (METRO), SWEDEN — — 15,495 — 41,282 — 56,777 (11,370) 2016 SK2 STOCKHOLM, (METRO), SWEDEN — — 80,148 3,914 81,981 3,914 162,129 (39,960) 2016 SK3 STOCKHOLM, (METRO), SWEDEN — — — — 23,857 — 23,857 (6,546) 2016 SO1 SOFIA (METRO), BULGARIA — — 5,236 — 4,470 — 9,706 (3,191) 2016 SO2 SOFIA (METRO), BULGARIA — 2,719 — 39 18,118 2,758 18,118 (2,099) 2017 WA1 WARSAW (METRO), POLAND — — 5,950 — 25,321 — 31,271 (9,228) 2016 WA2 WARSAW (METRO), POLAND — — 4,709 — 9,337 — 14,046 (5,436) 2016 WA3 WARSAW (METRO), POLAND — 2,647 — — 64,414 2,648 64,414 (2,873) 2017 ZH2 ZURICH (METRO), SWITZERLAND — — — — 3,915 — 3,915 (2,748) 2002 ZH4 ZURICH (METRO), SWITZERLAND — — 11,284 — 39,677 — 50,961 (28,110) 2009 ZH5 ZURICH (METRO), SWITZERLAND — — — 8,075 225,653 8,075 225,653 (35,657) 2009 ZW1 ZWOLLE (METRO), THE NETHERLANDS — — — — 10,518 — 10,518 (8,976) 2008 OTHERS (5) — 59,811 18,309 17,398 32,642 77,209 50,951 (9,560) Various Asia-Pacific: AE1 ADELAIDE (METRO), AUSTRALIA — 2,654 1,015 96 2,149 2,749 3,164 (994) 2018 BR1 BRISBANE (METRO), AUSTRALIA — 3,159 1,053 114 2,968 3,273 4,021 (845) 2018 CA1 CANBERRA (METRO), AUSTRALIA — — 18,410 — 8,454 — 26,864 (3,369) 2018 HK1 HONG KONG (METRO), CHINA — — — — 301,395 — 301,395 (122,088) 2003 HK2 HONG KONG (METRO), CHINA — — — — 243,358 — 243,358 (177,462) 2010 HK3 HONG KONG (METRO), CHINA — — — — 182,078 — 182,078 (90,545) 2012 HK4 HONG KONG (METRO), CHINA — — — — 95,305 — 95,305 (20,654) 2012 HK5 HONG KONG (METRO), CHINA — — 70,002 — 40,919 — 110,921 (26,895) 2017 MB1 MUMBAI (METRO), INDIA — 573 28,457 — 484 573 28,941 (658) 2021 MB2 MUMBAI (METRO), INDIA — — 56,725 — 1,315 — 58,040 (1,331) 2021 ME1 MELBOURNE (METRO), AUSTRALIA — 14,926 — 538 93,006 15,464 93,006 (29,361) 2013 ME2 MELBOURNE (METRO), AUSTRALIA — — — — 102,610 — 102,610 (7,310) 2018 ME4 MELBOURNE (METRO), AUSTRALIA — 3,425 84,175 124 15,526 3,549 99,701 (23,979) 2018 ME5 MELBOURNE (METRO), AUSTRALIA — 6,655 4,094 240 4,754 6,895 8,847 (2,882) 2018 OS1 OSAKA (METRO), JAPAN — — 14,876 — 104,213 — 119,089 (42,667) 2013 OS3 OSAKA (METRO), JAPAN — — — — 199,271 — 199,271 (7,274) 2020 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) PE1 PERTH (METRO), AUSTRALIA — 1,347 1,337 49 2,100 1,396 3,437 (596) 2018 PE2 PERTH (METRO), AUSTRALIA — — 16,327 — 17,390 — 33,717 (8,124) 2018 PE3 PERTH (METRO), AUSTRALIA — — — — 56,004 — 56,004 (4) 2020 SG1 SINGAPORE (METRO) — — — — 291,489 — 291,489 (133,905) 2003 SG2 SINGAPORE (METRO) — — — — 339,887 — 339,887 (232,450) 2008 SG3 SINGAPORE (METRO) — — 34,844 — 239,648 — 274,492 (71,579) 2013 SG4 SINGAPORE (METRO) — — 54,602 — 146,113 — 200,715 (17,748) 2019 SG5 SINGAPORE (METRO) — — — — 197,620 — 197,620 (4,016) 2019 SH2 SHANGHAI (METRO), CHINA — — — — 7,290 — 7,290 (3,562) 2012 SH3 SHANGHAI (METRO), CHINA — — 7,066 — 14,596 — 21,662 (8,140) 2012 SH5 SHANGHAI (METRO), CHINA — — 11,284 — 24,662 — 35,946 (17,322) 2012 SH6 SHANGHAI (METRO), CHINA — — 16,545 — 37,873 — 54,418 (6,124) 2017 SL1 SEOUL (METRO), SOUTH KOREA — — 29,236 — 37,580 — 66,816 (12,612) 2019 SY1 SYDNEY (METRO), AUSTRALIA — — — 86,206 38,251 86,206 38,251 (24,756) 2003 SY2 SYDNEY (METRO), AUSTRALIA — — 3,080 — 28,268 — 31,348 (24,941) 2008 SY3 SYDNEY (METRO), AUSTRALIA — — 8,712 — 150,497 — 159,209 (91,013) 2010 SY4 SYDNEY (METRO), AUSTRALIA — — — — 184,417 — 184,417 (55,173) 2014 SY5 SYDNEY (METRO), AUSTRALIA — 82,091 — 2,948 246,519 85,039 246,519 (15,090) 2018 SY6 SYDNEY (METRO), AUSTRALIA — 8,860 64,197 319 15,492 9,179 79,689 (13,191) 2018 SY7 SYDNEY (METRO), AUSTRALIA — 2,745 47,350 99 6,844 2,844 54,194 (9,078) 2018 SY8 SYDNEY (METRO), AUSTRALIA — — 1,073 — 500 — 1,573 (1,149) 2018 TY1 TOKYO (METRO), JAPAN — — — — 35,993 — 35,993 (22,284) 2000 TY2 TOKYO (METRO), JAPAN — — — — 93,532 — 93,532 (66,919) 2006 TY3 TOKYO (METRO), JAPAN — — — — 77,305 — 77,305 (44,811) 2010 TY4 TOKYO (METRO), JAPAN — — — — 78,446 — 78,446 (36,604) 2012 TY5 TOKYO (METRO), JAPAN — — 102 — 61,821 — 61,923 (20,456) 2014 TY6 TOKYO (METRO), JAPAN — — 37,941 — 17,821 — 55,762 (37,344) 2015 TY7 TOKYO (METRO), JAPAN — — 13,175 — 6,280 — 19,455 (14,370) 2015 TY8 TOKYO (METRO), JAPAN — — 53,848 — 12,625 — 66,472 (30,152) 2015 TY9 TOKYO (METRO), JAPAN — — 106,710 — 23,644 — 130,354 (83,055) 2015 TY10 TOKYO (METRO), JAPAN — — 69,881 — 15,220 — 85,102 (28,348) 2015 TY11 TOKYO (METRO), JAPAN — — 22,099 — 221,004 — 243,103 (19,907) 2018 OTHERS (5) — — 1,733 — 17,921 — 19,654 (9,964) Various TOTAL LOCATIONS $30,310 $598,614 $4,687,056 $387,949 $16,232,443 $986,560 $20,919,495 $(7,274,860) (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 we 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 our properties for federal income tax purpose approximated $29.1 billion (unaudited) as of December 31, 2021. The following table reconciles the historical cost of our properties for financial reporting purposes for each of the years in the three-year period ended December 31, 2021 (in thousands). Gross Fixed Assets: 2021 2020 2019 Balance, beginning of period $ 20,161,785 $ 16,927,332 $ 15,020,198 ASC 842 adoption impact (1) — — (276,671) Additions (including acquisitions and improvements) 2,977,992 3,110,907 2,632,472 Disposals (648,516) (446,864) (463,485) Foreign currency transaction adjustments and others (585,206) 570,410 14,818 Balance, end of year $ 21,906,055 $ 20,161,785 $ 16,927,332 Accumulated Depreciation: 2021 2020 2019 Balance, beginning of period $ (6,399,477) $ (5,329,182) $ (4,517,016) ASC 842 adoption impact (1) — — (7,846) Additions (depreciation expense) (1,224,874) (1,036,452) (926,046) Disposals 149,231 109,230 128,352 Foreign currency transaction adjustments and others 200,260 (143,073) (6,626) Balance, end of year $ (7,274,860) $ (6,399,477) $ (5,329,182) (1) Upon the adoption of Topic 842 on January 1, 2019, we 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, 2021 | |
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: • 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; • 12 data center sites across Canada from BCE Inc. ("Bell") from October 1, 2020 and one additional data center site from November 2, 2020; and • Two data center sites in Mumbai, India from GPX India ("GPX India Acquisition") from September 1, 2021. |
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, we evaluate our 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. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable. |
Cash, Cash Equivalents and Short-Term Investments | Cash, Cash Equivalents and Short-Term Investments We consider 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 our consolidated statements of operations. We review our 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 We enter 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, we assess our 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. We are required to consolidate the assets and liabilities of VIEs when we are 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 we are not the primary beneficiary, and other joint ventures or partnerships that are not VIEs, where we have the ability to exercise significant influence over the entity, we account for our 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 derecognized distinct non-financial assets. Equity investments are subsequently adjusted for cash contributions, distributions and our share of the income and losses of the investees. We record our equity method investments in other assets in the consolidated balance sheet. Our proportionate shares of the income or loss from our equity method investments are recorded in other income in the consolidated statement of operations. We review our 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. We did not record any impairment charges related to our equity method investments for the years ended December 31, 2021, 2020 and 2019. For further information on our Equity Method Investments, see Note 6. Non-marketable Equity Investments We also have investments in non-marketable equity securities, where we do not have the ability to exercise significant influence over the investees. We 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. We record non-marketable equity investment in other assets in the consolidated balance sheet. We review our 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. We did not record any impairment charges related to our non-marketable equity investments for the years ended December 31, 2021, 2020 and 2019. |
Financial Instruments and Concentration of Credit Risk | Financial Instruments and Concentration of Credit Risk Financial instruments which potentially subject us 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 our investment policy, which limits our 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. |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment are stated at our 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. Buildings under finance leases, 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. We capitalize 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 us 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. Our estimated useful lives of property, plant and equipment are generally as follows: Core systems 3 - 40 years Buildings 12 - 60 years Leasehold improvements 12 - 40 years Personal Property, including capitalized internal-use software 3 - 10 years Our construction in progress includes direct and indirect expenditures for the construction and expansion of IBX data centers and is stated at original cost. We contracted out substantially all of the construction and expansion efforts of our 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, we 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. |
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. We recorded an impairment charge of $7.3 million relating to assets held for sale for the year ended December 31, 2020. 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 ObligationsOur asset retirement obligations are primarily related to our 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 our IBX data center leases have been subject to significant development by us in order to convert them from, in most cases, vacant buildings or warehouses into IBX data centers. 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, we accrete the liability in relation to the asset retirement obligations over time and the accretion expense is recorded as a cost of revenue. |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets We have three reportable segments comprised of the 1) Americas, 2) EMEA and 3) Asia-Pacific geographic regions, which we also determined are our 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. We assess 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, we determine 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 we conclude otherwise, then we are 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, 2021, 2020 and 2019, we concluded that it was more likely than not that goodwill attributed to our 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. |
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 We use 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 us and are not used for speculative purposes. We recognize all derivatives on our 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, we use 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. We use 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. We use 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, we use 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. We use 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, we also use 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. We use 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 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, |
Fair Value of Financial Instruments and Fair Value Measurements | Fair Value of Financial Instruments The carrying value of our cash and cash equivalents, short-term investments and derivative instruments represent their fair value, while our 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 our debt, which is traded in the public debt market, is based on quoted market prices. The fair value of our debt, which is not publicly traded, is estimated by considering our credit rating, current rates available to us for debt of the same remaining maturities and terms of the debt. Fair Value Measurements We measure and report certain financial assets and liabilities at fair value on a recurring basis, including our investments in money market funds, certificates of deposit, publicly traded equity securities and derivatives. We also follow 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 On January 1, 2019, we adopted Topic 842 using the alternative transition method and recognized an insignificant cumulative effect of initially applying the standard as an adjustment to the opening balance of retained earnings. We enter into lease arrangements primarily for land, data center spaces, office spaces and equipment. At its inception, we determine whether an arrangement is or contains a lease. We recognize 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 we are reasonably certain to exercise. ROU assets represent our right to use an underlying asset for the lease term. Lease liabilities represent our 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, we reassess its classification and remeasure the ROU asset and lease liability. |
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 our 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, we account 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 we are primarily responsible for fulfilling the contract, bear inventory risk and have discretion in establishing the price when selling to the customer. To the extent we do not meet the criteria for recognizing revenue on a gross basis, we record 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. We guarantee 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 our IBX data centers, we would reduce revenue for any credits or cash payments given to the customer. Historically, these credits and cash payments have not been significant. We enter into revenue contracts with customers for data centers and office spaces, which contain both lease and non-lease components. We 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. We 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, we are deemed to have foreign currency forward contracts embedded in these contracts. We 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 our consolidated balance sheet at their fair value. The majority of these foreign currency embedded derivatives arise in certain of our 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 our 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 we have transferred products or provided services to our 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, we have determined that our contracts generally do not include a significant financing component. We assess collectability based on a number of factors, including past transaction history with the customer and the credit-worthiness of the customer. We generally do not request collateral from our customers although in certain cases we obtain a security interest in a customer's equipment placed in our IBX data centers or obtain a deposit. We also maintain an allowance for estimated losses on a lifetime loss basis resulting from the inability of our customers to make required payments for which we had expected to collect the revenues in accordance with the new credit loss guidance accounting guidance ("Topic 326"). The financial condition of our 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 our 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 on 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 we have transferred products or provided services to our customers but customer payment is conditioned on reasons other than the passage of time, such as upon the satisfaction of additional performance obligations. Certain contracts include terms related to price arrangements such as price increases and free months. We recognize 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 we have 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 2021, contract costs are amortized over the estimated period of 5.5 years on a straight-line basis. We elected to apply the practical expedient which allows us 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 based on the future tax consequences attributable to differences that exists between the financial statement carrying amounts of assets and liabilities and their respective tax bases, as well as tax attributes such as operating loss, capital loss and tax credits carryforwards on a taxing jurisdiction basis. 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. We elected to be taxed as a REIT for U.S. federal income tax purposes beginning with our 2015 taxable year. As a result, we may deduct the dividends made to our stockholders from taxable income generated by us and that of our qualified REIT subsidiaries ("QRSs"). Our dividends paid deduction generally eliminates the U.S. federal taxable income of our REIT and QRSs, resulting in no U.S. federal income tax due. However, our domestic taxable REIT subsidiaries ("TRSs") are subject to the U.S. corporate income taxes on any taxable income generated by them. In addition, our foreign operations are subject to local income taxes regardless of whether the foreign operations are operated as QRSs or TRSs. Our qualification and taxation as a REIT depend on our satisfaction of certain asset, income, organizational, distribution, stockholder ownership and other requirements on a continuing basis. Our ability to satisfy quarterly asset tests depends upon our analysis and the fair market values of our REIT and non-REIT assets. For purposes of the quarterly REIT asset tests, we estimate the fair market value of assets within our QRSs and TRSs using a discounted cash flow approach, by calculating the present value of forecasted future cash flows. We apply discount rates based on industry benchmarks relative to the market and forecasting risks. Other significant assumptions used to estimate the fair market value of assets in QRSs and TRSs include projected revenue growth, projected operating margins, and projected capital expenditures. We revisit significant assumptions periodically to reflect any changes due to business or economic environment. |
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. We generally recognize 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. We elected to estimate forfeitures based on historical forfeiture rates. We grant restricted stock units ("RSUs") or restricted stock awards ("RSAs") to our employees and these equity awards generally have only a service condition. We grant RSUs to our 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 our financial performance or a specific region of our company. We assess the probability of meeting these performance conditions on a quarterly basis. The majority of our RSUs vest over four years, although certain equity awards for executives vest over a range of two We use the Black-Scholes option-pricing model to determine the fair value of our 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 our expected stock price volatility over the term of the awards and actual and projected employee stock purchase behaviors. We 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 exchange rates 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 ShareWe compute basic and diluted EPS for net income. Basic EPS is computed using net income and the weighted-average number of common shares outstanding. Diluted EPS is computed using net income and the weighted-average number of common shares outstanding plus any dilutive potential common shares outstanding. Dilutive potential common shares include the assumed exercise, vesting and issuance activity of employee equity awards using the treasury stock method. |
Treasury Stock | Treasury Stock We account 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 |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Accounting Standards Not Yet Adopted In October 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2021-08 Business Combinations ("Topic 805"): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The ASU requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. Under the current business combinations guidance, such assets and liabilities were recognized by the acquirer at fair value on the acquisition date. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted. We are currently evaluating the extent of the impact of this ASU, but do not expect the adoption of this standard to have a significant impact on our consolidated financial statements. In August 2020, FASB issued 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. We are currently evaluating the extent of the impact of this ASU, but do not expect the adoption of this standard to have a significant impact on our consolidated financial statements. Accounting Standards Recently Adopted 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. We 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 a significant impact on other financial assets within the scope of Topic 326, such as contract assets. Income Taxes 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, we adopted this ASU on a prospective basis and the adoption of this standard did not have an impact on our consolidated financial statements. 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. In addition, FASB issued ASU 2021-01, Reference Rate Reform ("Topic 848"), which clarifies the scope of Topic 848. Collectively, the guidance 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. ASU 2021-01 is effective upon issuance and ASU 2020-04 was effective for all entities as of March 12, 2020, and together remain effective through December 31, 2022. We adopted these ASUs upon their respective issuances and there was no impact on our consolidated financial statements as a result of adopting the guidance. We will evaluate our debt, derivative and lease contracts that may become 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 we have one primary line of business, which is the design, build-out and operation of IBX data centers, we have determined that we have three reportable segments comprised of our Americas, EMEA and Asia-Pacific geographic regions. Our chief operating decision-maker evaluates performance, makes operating decisions and allocates resources based on our revenues and adjusted EBITDA performance both on a consolidated basis and based on these three reportable segments. Intercompany transactions between segments are excluded for management reporting purposes. |
Nature of Business and Summar_3
Nature of Business and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Schedule of revenue by geographical region | The following table sets forth percentages of our revenues by geographic region for the years ended December 31: 2021 2020 2019 Americas 46 % 45 % 47 % EMEA 32 % 33 % 32 % Asia-Pacific 22 % 22 % 21 % |
Property, plant and equipment, net | Our estimated useful lives of property, plant and equipment are generally as follows: Core systems 3 - 40 years Buildings 12 - 60 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): 2021 2020 Core systems $ 10,808,417 $ 9,659,908 Buildings 7,381,644 6,557,121 Leasehold improvements 2,022,617 1,946,644 Construction in progress 967,562 1,363,917 Personal property (1) 1,551,642 1,207,669 Land 970,982 944,094 23,702,864 21,679,353 Less accumulated depreciation (8,257,089) (7,176,269) Property, plant and equipment, net $ 15,445,775 $ 14,503,084 (1) Personal property included $1.2 billion and $885.5 million of capitalized internal-use software as of December 31, 2021 and 2020, respectively. |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Summary of opening and closing balances | The following table summarizes the opening and closing balances of our accounts receivable, net; contract assets, current; contract assets, non-current; deferred revenue, current; and deferred revenue, non-current (in thousands): Accounts receivable, net (1) Contract assets, current Contract assets, non-current Deferred revenue, current Deferred revenue, non-current Beginning balances as of January 1, 2021 $ 676,738 $ 13,534 $ 54,050 $ 101,258 $ 71,242 Closing balances as of December 31, 2021 681,809 65,392 55,486 109,736 87,495 Increase $ 5,071 $ 51,858 $ 1,436 $ 8,478 $ 16,253 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 (1) The net change in our allowance for credit losses was insignificant during the year ended December 31, 2021. |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Business Combination and Asset Acquisition [Abstract] | |
Schedule of allocation of total purchase consideration | A summary of the final allocation of total purchase consideration is presented as follows (in thousands): GPX India (1) Bell (2) Packet Axtel Provisional Final Cash and cash equivalents $ 9,406 $ — $ 1,068 $ — Accounts receivable 4,399 — 5,098 — Other current assets 8,883 696 299 14,048 Property, plant and equipment 88,108 538,717 27,945 76,407 Operating lease right-of-use assets 62 14,359 1,519 1,646 Intangible assets 15,472 75,857 58,500 22,750 Goodwill 77,162 172,387 230,620 78,902 Deferred tax and other assets 20 722 138 — Total assets acquired 203,512 802,738 325,187 193,753 Accounts payable and accrued liabilities (1,569) (895) (1,275) (238) Other current liabilities (478) — (860) — Operating lease liabilities (62) (13,340) (1,519) (1,586) Finance lease liabilities (20,565) (80,026) (27,945) — Deferred tax and other liabilities (10,373) (4,495) (3,290) (2,911) Net assets acquired $ 170,465 $ 703,982 $ 290,298 $ 189,018 (1) For the GPX India Acquisition, the purchase price allocation adjustments since the provisional amounts reported as of September 30, 2021 were not significant. (2) For the Bell Acquisition, the purchase price allocation adjustments since the provisional amounts reported as of December 31, 2020 were not significant. |
Schedule of acquired 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) Discount Rate GPX India: Customer relationships (1) $ 15,472 15.0 15.0 11.0 % Bell: Customer relationships (1) 75,857 15.0 15.0 8.0 % Packet: Trade names (2) 1,300 3.0 3.0 8.0 % Existing technology (3) 5,100 3.0 3.0 8.0 % Customer relationships (1) 52,100 10.0 10.0 8.0 % Axtel: Customer relationships (1) 22,750 15.0 15.0 13.3 % (1) The fair values were estimated by calculating the present value of estimated future operating cash flows generated from existing customers less costs to realize the revenue. The rates reflect 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. (2) The fair value was estimated using the relief from royalty method, with a relief from royalty rate of 1.0%. (3) The fair value 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 include total cost, time to recreate, opportunity cost and functional obsolescence. The discount rate was utilized for the opportunity cost assumption. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Computation of basic and diluted earnings per share | The following table sets forth the computation of basic and diluted earnings per share ("EPS") for the years ended December 31 (in thousands, except per share amounts): 2021 2020 2019 Net income $ 499,728 $ 370,074 $ 507,245 Net (income) loss attributable to non-controlling interests 463 (297) 205 Net income attributable to Equinix $ 500,191 $ 369,777 $ 507,450 Weighted-average shares used to calculate basic EPS 89,772 87,700 84,140 Effect of dilutive securities: Employee equity awards 637 710 539 Weighted-average shares used to calculate diluted EPS 90,409 88,410 84,679 EPS attributable to Equinix: Basic EPS $ 5.57 $ 4.22 $ 6.03 Diluted EPS $ 5.53 $ 4.18 $ 5.99 |
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): 2021 2020 2019 Common stock related to employee equity awards 206 19 21 Total 206 19 21 |
Assets Held for Sale (Tables)
Assets Held for Sale (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Assets Held for Sale | The following table summarizes the assets and liabilities that were classified as assets and liabilities held for sale in the consolidated balance sheet as of December 31, 2021 (in thousands): December 31, 2021 Operating lease right-of-use assets $ 12,835 Property, plant and equipment 260,182 Other assets 3,178 Total assets held for sale $ 276,195 Accounts payable and accrued expenses $ 510 Current portion of operating lease liabilities 2,039 Operating lease liabilities, less current portion 348 Accrued property, plant and equipment 18,127 Total liabilities held for sale (1) $ 21,024 (1) Liabilities held for sale were included within other current liabilities on the consolidated balance sheet. |
Equity Method Investments (Tabl
Equity Method Investments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Schedule of equity method investments | The following table summarizes our equity method investments (in thousands), which were included in other assets on the consolidated balance sheets as of December 31 (in thousands): Investee Ownership Percentage 2021 2020 EMEA 1 Joint Venture with GIC 20 % $ 131,516 $ 101,892 EMEA 2 Joint Venture with GIC 20 % 34,944 — Asia-Pacific 1 Joint Venture with GIC 20 % 60,108 43,432 Other Various 18,481 17,747 Total $ 245,049 $ 163,071 |
Summary of the maximum exposure losses of VIE Joint Ventures | The following table summarizes our maximum exposure to loss related to the Asia-Pacific 1 Joint Venture and EMEA 2 Joint Venture as of December 31, 2021 (in thousands): Asia-Pacific 1 Joint Venture EMEA 2 Joint Venture Equity Investment $ 60,108 $ 34,944 Outstanding Receivables 2,124 26,953 Future Equity Contribution Commitments 1 11,424 64,875 Maximum Future Payments under Debt Guarantees 2 N/A 3 38,118 Total $ 73,656 $ 164,890 (1) The joint ventures' partners are required to make additional equity contributions proportionately upon certain occurrences, such as a shortfall in capital necessary to complete certain construction phases or make interest payments on their outstanding debt. (2) In connection with our 20% equity investment in the EMEA 2 Joint Venture, we provided the lenders with our guarantees covering 20% of all payments of principal and interest due under EMEA 2 Joint Venture's credit facility agreements (see Note 15). |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Cash, cash equivalents and short-term investments | Cash, cash equivalents and short-term investments consisted of the following as of December 31 (in thousands): 2021 2020 Cash and cash equivalents: Cash $ 950,677 $ 993,798 Cash equivalents: Money market funds 585,681 611,071 Total cash and cash equivalents 1,536,358 1,604,869 Short-term investments: Certificates of deposit — 4,373 Publicly traded equity securities — 159 Total short-term investments — 4,532 Total cash, cash equivalents and short-term investments $ 1,536,358 $ 1,609,401 |
Accounts receivable, net | Accounts receivable, net, consisted of the following as of December 31 (in thousands): 2021 2020 Accounts receivable $ 693,444 $ 687,415 Allowance for credit losses (11,635) (10,677) Accounts receivable, net $ 681,809 $ 676,738 |
Summary of allowance for credit loss | The following table summarizes the activity of our allowance for credit losses (in thousands): 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 doubtful accounts 5,069 Net write-offs (10,050) Impact of foreign currency exchange 1,732 Balance as of December 31, 2020 10,677 Provision for doubtful accounts 10,016 Net write-offs (8,295) Impact of foreign currency exchange (763) Balance as of December 31, 2021 $ 11,635 |
Other current assets | Other current assets consisted of the following as of December 31 (in thousands): 2021 2020 Prepaid expenses $ 65,224 $ 61,424 Taxes receivable 128,123 125,614 Restricted cash, current 12,188 11,135 Other receivables 59,224 44,333 Derivative instruments 117,432 8,906 Contract assets, current 65,392 13,534 Other current assets (1) 15,156 58,070 Total other current assets $ 462,739 $ 323,016 (1) Other current assets included $5.3 million and $44.2 million of the current portion of the fair value of the contingent consideration from the sale of xScale ™ data center facilities to the EMEA 1 Joint Venture as of December 31, 2021 and 2020, respectively. See Note 5 |
Property, plant and equipment, net | Our estimated useful lives of property, plant and equipment are generally as follows: Core systems 3 - 40 years Buildings 12 - 60 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): 2021 2020 Core systems $ 10,808,417 $ 9,659,908 Buildings 7,381,644 6,557,121 Leasehold improvements 2,022,617 1,946,644 Construction in progress 967,562 1,363,917 Personal property (1) 1,551,642 1,207,669 Land 970,982 944,094 23,702,864 21,679,353 Less accumulated depreciation (8,257,089) (7,176,269) Property, plant and equipment, net $ 15,445,775 $ 14,503,084 (1) Personal property included $1.2 billion and $885.5 million of capitalized internal-use software as of December 31, 2021 and 2020, respectively. |
Goodwill and other intangible assets | The following table presents goodwill and other intangible assets, net, for the years ended December 31, 2021 and 2020 (in thousands): 2021 2020 Goodwill: Americas $ 2,210,009 $ 2,212,782 EMEA 2,472,586 2,611,166 Asia-Pacific 689,476 648,605 $ 5,372,071 $ 5,472,553 Intangible assets, net: Intangible assets - customer relationships $ 2,841,372 $ 2,891,060 Intangible assets - trade names 11,471 11,512 Intangible assets - in-place leases 32,760 33,770 Intangible assets - licenses 9,697 9,697 Intangible assets - at-the-money lease contracts (1) 60,455 64,905 Intangible assets - other 12,546 12,802 2,968,301 3,023,746 Accumulated amortization - customer relationships (987,462) (818,370) Accumulated amortization - trade names (3,207) (2,337) Accumulated amortization - in-place leases (22,847) (20,037) Accumulated amortization - licenses (5,821) (6,600) Accumulated amortization - other (2) (13,697) (5,457) (1,033,034) (852,801) Total intangible assets, net $ 1,935,267 $ 2,170,945 (1) In December 2020, we 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 we 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. (2) Accumulated amortization - other includes an insignificant amount of amortization of at-the-money lease contracts. |
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, 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 Purchase of GPX — — 77,162 77,162 Impact of foreign currency exchange (2,773) (138,580) (36,291) (177,644) Balance as of December 31, 2021 $ 2,210,009 $ 2,472,586 $ 689,476 $ 5,372,071 |
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, 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 GPX acquisition — — 15,472 15,472 Amortization of intangibles (133,289) (55,807) (16,388) (205,484) Impact of foreign currency exchange (2,047) (30,278) (13,341) (45,666) Balance as of December 31, 2021 $ 1,327,753 $ 431,942 $ 175,572 $ 1,935,267 (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: 2022 $ 196,744 2023 195,030 2024 193,722 2025 191,158 2026 190,802 Thereafter 967,811 Total $ 1,935,267 |
Other assets | Other assets consisted of the following as of December 31 (in thousands): 2021 2020 Deferred tax assets, net $ 59,816 $ 66,424 Prepaid expenses (1) 87,758 82,443 Debt issuance costs, net 2,130 4,261 Deposits 70,548 69,043 Restricted cash 908 9,691 Derivative instruments 59,917 2,793 Contract assets, non-current 55,486 54,050 Contract costs 325,510 267,978 Equity method investments 245,049 163,071 Other assets (2) 18,944 56,293 Total other assets $ 926,066 $ 776,047 (1) Prepaid expenses included $46.0 million and $21.1 million of capitalized CCA implementation costs, net as of December 31, 2021 and 2020, respectively. (2) In connection with the Metronode Acquisition in 2018, we had indemnification assets of $42.8 million as of December 31, 2020, which represented the seller's obligation under the purchase agreement to reimburse pre-acquisition tax liabilities settled after the acquisition. The amount was insignificant as of December 31, 2021. |
Accounts payable and accrued expenses | Accounts payable and accrued expenses consisted of the following as of December 31 (in thousands): 2021 2020 Accounts payable $ 84,084 $ 77,705 Accrued compensation and benefits 364,783 317,117 Accrued interest 81,893 79,437 Accrued taxes (1) 117,061 153,804 Accrued utilities and security 94,251 76,910 Accrued other 137,072 139,889 Total accounts payable and accrued expenses $ 879,144 $ 844,862 (1) Accrued taxes included income taxes payable of $51.3 million and $59.8 million as of December 31, 2021 and 2020, respectively. |
Other current liabilities | Other current liabilities consisted of the following as of December 31 (in thousands): 2021 2020 Deferred revenue, current $ 109,736 $ 101,258 Customer deposits 16,380 17,115 Derivative instruments 13,373 188,726 Dividends payable, current 12,027 10,873 Asset retirement obligations 8,756 3,993 Other current liabilities 54,247 32,403 Total other current liabilities $ 214,519 $ 354,368 |
Other liabilities | Other liabilities consisted of the following as of December 31 (in thousands): 2021 2020 Asset retirement obligations $ 108,800 $ 109,776 Deferred tax liabilities, net 340,287 290,366 Deferred revenue, non-current 87,495 71,242 Accrued taxes 124,032 178,371 Dividends payable, non-current 9,750 7,947 Customer deposits 1,534 1,088 Derivative instruments 20,899 211,733 Other liabilities 70,614 78,476 Total other liabilities $ 763,411 $ 948,999 |
Summary of asset retirement obligation liability | The following table summarizes the activities of our asset retirement obligation ("ARO") (in thousands): 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 Additions 7,483 Adjustments (1) (6,591) Accretion expense 6,518 Impact of foreign currency exchange (3,623) Asset retirement obligations as of December 31, 2021 $ 117,556 (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, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Summary 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, 2021, 2020 and 2019 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Years Ended December 31, 2021 2020 2019 Foreign currency debt $ 93,945 $ (208,281) $ 47,033 Cross-currency interest rate swaps (included component) (1) 282,935 (218,843) 15,514 Cross-currency interest rate swaps (excluded component) (2) (52,517) (347) 10,737 Foreign currency forward contracts (included component) (1) 2,621 (17,115) — Foreign currency forward contracts (excluded component) (3) (2) 32 — Total $ 326,982 $ (444,554) $ 73,284 Amount of gain or (loss) recognized in earnings: Location of gain or (loss) Years Ended December 31, 2021 2020 2019 Cross-currency interest rate swaps (excluded component) (2) Interest expense $ 44,933 $ 27,196 $ 19,261 Foreign currency forward contracts (excluded component) (3) Interest expense 242 42 — Total $ 45,175 $ 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 hedges | The effect of cash flow hedges on accumulated other comprehensive income and the consolidated statements of operations for the years ended December 31, 2021, 2020 and 2019 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Years Ended December 31, 2021 2020 2019 Foreign currency forward and option contracts (included component) (1) $ 67,767 $ (68,573) $ (9,945) Foreign currency option contracts (excluded component) (2) 151 1,655 (1,807) Interest rate locks 9,624 (30,393) 4,972 Total $ 77,542 $ (97,311) $ (6,780) Amount of gain or (loss) reclassified from accumulated other comprehensive income to income: Years Ended December 31, Location of gain or (loss) 2021 2020 2019 Foreign currency forward contracts Revenues $ (39,297) $ 37,198 $ 80,046 Foreign currency forward contracts Costs and operating expenses 20,496 (19,890) (41,262) Interest rate locks Interest Expense (4,056) (1,204) 79 Total $ (22,857) $ 16,104 $ 38,863 Amount of gain or (loss) excluded from effectiveness testing and included in income: Years Ended December 31, Location of gain or (loss) 2021 2020 2019 Foreign currency forward contracts Other income (expense) $ — $ — $ 88 Foreign currency option contracts (excluded component) (2) Revenues (244) (1,761) (1,082) Total $ (244) $ (1,761) $ (994) (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 our consolidated statements of operations (in thousands): Amount of gain or (loss) recognized in earnings: Years Ended December 31, Location of gain or (loss) 2021 2020 2019 Embedded derivatives Revenues $ 3,503 $ (3,043) $ 63 Economic hedge of embedded derivatives Revenues (5,937) 2,142 550 Foreign currency forward contracts Other income (expense) 129,496 (127,648) 36,846 Total $ 127,062 $ (128,549) $ 37,459 |
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 our consolidated balance sheets as of December 31, 2021 and 2020 (in thousands): December 31, 2021 December 31, 2020 Assets (1) Liabilities (2) Assets (1) Liabilities (2) Designated as hedging instruments: Cash flow hedges Foreign currency forward and option contracts $ 22,866 $ 7,618 $ 351 $ 52,804 Interest rate locks 8,662 — — — Net investment hedges Cross-currency interest rate swaps 56,921 19,441 — 192,939 Foreign currency forward contracts 156 70 — 17,041 Total designated as hedging 88,605 27,129 351 262,784 Not designated as hedging instruments: Embedded derivatives 3,247 652 3,255 3,858 Economic hedges of embedded derivatives 2,232 637 4,372 12 Foreign currency forward contracts 83,265 5,854 3,721 133,805 Total not designated as hedging 88,744 7,143 11,348 137,675 Total Derivatives $ 177,349 $ 34,272 $ 11,699 $ 400,459 (1) As presented in our consolidated balance sheets within other current assets and other assets. (2) As presented in our 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, 2021 and 2020 (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, 2021 Derivative assets $ 207,037 $ — $ 207,037 $ (47,538) $ 159,499 Derivative liabilities 49,326 — 49,326 (47,538) 1,788 December 31, 2020 Derivative assets $ 38,447 $ — $ 38,447 $ (35,100) $ 3,347 Derivative liabilities 415,628 — 415,628 (35,100) 380,528 |
Schedule of offsetting derivative assets and liabilities | The following table presents information related to these offsetting arrangements as of December 31, 2021 and 2020 (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, 2021 Derivative assets $ 207,037 $ — $ 207,037 $ (47,538) $ 159,499 Derivative liabilities 49,326 — 49,326 (47,538) 1,788 December 31, 2020 Derivative assets $ 38,447 $ — $ 38,447 $ (35,100) $ 3,347 Derivative liabilities 415,628 — 415,628 (35,100) 380,528 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule of financial assets and liabilities measured at fair value on a recurring basis | Our financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 were as follows (in thousands): Fair Value at December 31, 2021 Fair Value Level 1 Level 2 Assets: Money market and deposit accounts $ 585,681 $ 585,681 $ — Derivative instruments (1) 177,349 — 177,349 $ 763,030 $ 585,681 $ 177,349 Liabilities: Derivative instruments (1) $ 34,272 $ — $ 34,272 (1) Amounts are included within other current assets, other assets, other current liabilities and other liabilities in the consolidated balance sheets. Our financial assets and liabilities measured at fair value on a recurring basis at December 31, 2020 were as follows (in thousands): Fair Value at Fair Value 2020 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, other current liabilities and other liabilities in the consolidated balance sheets. |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Schedule of leases entered into during the period | The following table summarizes the significant lease transactions during the year ended December 31, 2021 (in thousands): Renewal/Termination Options Excluded (1) Net Incremental (2) Lease Quarter Transaction Lease Classification ROU assets ROU liabilities Silicon Valley 8 ("SV8") data center lease extended (3) Q1 Extended lease term by 16 years Two 10-year renewal options Finance Lease $98,141 $100,043 Operating Lease (13,685) (15,586) Hong Kong 3 ("HK3") data center lease extended (3) Q1 Extended lease by 10 years, which included a 5-year renewal option N/A Finance Lease - Building 37,987 37,987 Operating Lease - Land 6,592 6,592 Osaka 3 ("OS3") new data center and office lease Q2 New lease-15 year term 2-year renewal option on a rolling basis Finance Lease 144,122 144,122 (1) These renewal/termination options are not included in determining the lease terms as we are not reasonably certain to exercise them at this time. (2) The net incremental amounts represent the adjustments to the right of use ("ROU") assets and liabilities recorded during the quarter that the transactions were entered. (3) These leases had components previously classified as operating leases. |
Components of lease expenses | The components of lease expenses are as follows (in thousands): Years Ended December 31, 2021 2020 Finance lease cost Amortization of right-of-use assets (1) $ 157,057 $ 120,169 Interest on lease liabilities 117,896 113,699 Total finance lease cost 274,953 233,868 Operating lease cost 221,776 217,299 Variable lease cost 33,066 13,588 Total lease cost $ 529,795 $ 464,755 (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, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 113,571 $ 109,558 Operating cash flows from operating leases 258,719 206,512 Financing cash flows from finance leases 165,539 115,288 Right-of-use assets obtained in exchange for lease obligations: (1) Finance leases $ 412,214 $ 487,592 Operating leases 10,446 108,797 As of December 31, 2021 2020 Weighted-average remaining lease term - finance leases (2) 14 years 14 years Weighted-average remaining lease term - operating leases (2) 12 years 12 years Weighted-average discount rate - finance leases 7 % 7 % Weighted-average discount rate - operating leases 4 % 4 % Finance lease ROU assets (3) $ 1,875,696 $ 1,688,032 (1) Represents all non-cash changes in ROU assets. (2) Includes lease renewal options that are reasonably certain to be exercised. property, plant and equipment, net |
Maturities of lease liabilities | Maturities of lease liabilities as of December 31, 2021 are as follows (in thousands): Year ended December 31, Operating Leases Finance Leases Total 2022 $ 181,810 $ 252,670 $ 434,480 2023 181,480 239,268 420,748 2024 165,689 240,696 406,385 2025 155,642 237,107 392,749 2026 145,578 227,262 372,840 Thereafter 847,168 1,979,654 2,826,822 Total lease payments 1,677,367 3,176,657 4,854,024 Less imputed interest (426,158) (1,039,148) (1,465,306) Total $ 1,251,209 $ 2,137,509 $ 3,388,718 |
Maturities of lease liabilities | Maturities of lease liabilities as of December 31, 2021 are as follows (in thousands): Year ended December 31, Operating Leases Finance Leases Total 2022 $ 181,810 $ 252,670 $ 434,480 2023 181,480 239,268 420,748 2024 165,689 240,696 406,385 2025 155,642 237,107 392,749 2026 145,578 227,262 372,840 Thereafter 847,168 1,979,654 2,826,822 Total lease payments 1,677,367 3,176,657 4,854,024 Less imputed interest (426,158) (1,039,148) (1,465,306) Total $ 1,251,209 $ 2,137,509 $ 3,388,718 |
Debt Facilities (Tables)
Debt Facilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Summary of debt | As of December 31, 2021 and 2020, our mortgage and loans payable consisted of the following (in thousands): 2021 2020 Term loans $ 549,697 $ 1,292,067 Mortgage payable and loans payable 68,691 78,903 618,388 1,370,970 Less amount representing unamortized debt discount and debt issuance cost (354) (3,288) Add amount representing unamortized mortgage premium 1,630 1,861 619,664 1,369,543 Less current portion (33,087) (82,289) $ 586,577 $ 1,287,254 Our senior notes consisted of the following as of December 31 (in thousands): 2021 2020 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 % 2.625% Senior Notes due 2024 November 2019 November 2024 1,000,000 2.79 % 1,000,000 2.79 % 1.250% Senior Notes due 2025 June 2020 July 2025 500,000 1.46 % 500,000 1.46 % 1.000% Senior Notes due 2025 October 2020 September 2025 700,000 1.18 % 700,000 1.18 % 2.900% Senior Notes due 2026 November 2019 November 2026 600,000 3.04 % 600,000 3.04 % 2.875% Euro Senior Notes due 2026 December 2017 February 2026 — — % 611,050 3.04 % 1.450% Senior Notes due 2026 May 2021 May 2026 700,000 1.64 % — — % 0.250% Euro Senior Notes due 2027 March 2021 March 2027 569,150 0.45 % — — % 1.800% Senior Notes due 2027 June 2020 July 2027 500,000 1.96 % 500,000 1.96 % 5.375% Senior Notes due 2027 March 2017 May 2027 — — % 1,250,000 5.51 % 1.550% Senior Notes due 2028 October 2020 March 2028 650,000 1.67 % 650,000 1.67 % 2.000% Senior Notes due 2028 May 2021 May 2028 400,000 2.21 % — — % 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 % 1,100,000 2.27 % 2.500% Senior Notes due 2031 May 2021 May 2031 1,000,000 2.65 % — — % 1.000% Euro Senior Notes due 2033 March 2021 March 2033 682,980 1.18 % — — % 3.000% Senior Notes due 2050 June 2020 July 2050 500,000 3.09 % 500,000 3.09 % 2.950% Senior Notes due 2051 October 2020 September 2051 500,000 3.00 % 500,000 3.00 % 3.400% Senior Notes due 2052 May 2021 February 2052 500,000 3.50 % — — % 11,102,130 9,261,050 Less amount representing unamortized debt discount and debt issuance cost (117,986) (92,773) Add amount representing unamortized debt premium — 186 10,984,144 9,168,463 Less current portion — (150,186) $ 10,984,144 $ 9,018,277 |
Optional redemption schedule | With respect to the rest of the Notes listed below, we may redeem at our 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 0.250% Euro Senior Notes due 2027 January 15, 2027 1.000% Euro Senior Notes due 2033 December 15, 2032 1.450% Senior Notes due 2026 April 15, 2026 2.000% Senior Notes due 2028 March 15, 2028 2.500% Senior Notes due 2031 February 15, 2031 3.400% Senior Notes due 2052 August 15, 2051 |
Summary of maturities of debt instruments | The following table sets forth maturities of our debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs, debt discounts and debt premiums, as of December 31, 2021 (in thousands): Years ending: 2022 $ 582,783 2023 6,664 2024 1,006,230 2025 1,204,640 2026 1,304,770 Thereafter 7,617,061 $ 11,722,148 |
Fair value of debt instruments | The following table sets forth the estimated fair values of our mortgage and loans payable and senior notes, including current maturities, as of December 31 (in thousands): 2021 2020 Mortgage and loans payable $ 621,051 $ 1,379,129 Senior notes 11,049,834 9,705,486 |
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): 2021 2020 2019 Interest expense $ 336,082 $ 406,466 $ 479,684 Interest capitalized 24,505 26,750 32,173 Interest charges incurred $ 360,587 $ 433,216 $ 511,857 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Schedule of reserve for authorized but unissued shares of common stock | As of December 31, 2021, we had reserved the following authorized but unissued shares of common stock for future issuances: Common stock options and restricted stock units 5,327,514 Common stock employee purchase plans 2,640,649 Total 7,968,163 |
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, 2018 Net December 31, 2019 Net December 31, 2020 Net December 31, 2021 Foreign currency translation adjustment ("CTA") gain (loss) $ (998,603) $ (58,315) $ (1,056,918) $ 548,503 $ (508,415) $ (559,984) $ (1,068,399) Unrealized gain (loss) on cash flow hedges (1) 19,480 (3,842) 15,638 (82,790) (67,152) 60,562 (6,590) Net investment hedge CTA gain (loss) (1) 34,325 73,294 107,619 (444,553) (336,934) 326,982 (9,952) Net actuarial gain (loss) on defined benefit plans (2) (904) (48) (952) 85 (867) 57 (810) $ (945,702) $ 11,089 $ (934,613) $ 21,245 $ (913,368) $ (172,383) $ (1,085,751) (1) Refer to Note 8 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income. (2) We have a defined benefit pension plan covering all employees in two countries where such plans are mandated by law. We do 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, 2021 , 2020 and 2019 , our 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 2021 2/10/2021 2/24/2021 3/17/2021 $ 2.870000 $ 2.870000 $ 256,321 4/28/2021 5/19/2021 6/16/2021 2.870000 2.870000 257,199 7/28/2021 8/18/2021 9/22/2021 2.870000 2.870000 257,769 11/3/2021 11/17/2021 12/15/2021 2.870000 2.870000 258,716 Total $ 11.480000 $ 11.480000 $ 1,030,005 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 (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, 2021, 2020 and 2019, we 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, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Schedule of shares reserved and shares available for grant | As of December 31, 2021, 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 2,640,649 2020 Equity Incentive Plan 4,660,322 3,969,920 |
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, 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 RSUs granted 776,628 679.59 RSUs released, vested (633,466) 505.40 Special distribution shares released (34) 297.03 RSUs canceled (123,168) 561.34 RSUs outstanding, December 31, 2021 1,357,594 $ 594.27 1.23 $ 1,148,307 (1) The intrinsic value is calculated based on the market value of the stock as of December 31, 2021. |
Disclosures for 2004 Purchase Plan | We provide the following disclosures for the 2004 Purchase Plan as of December 31 (dollars, except shares): 2021 2020 2019 Weighted-average purchase price per share $ 467.59 $ 371.71 $ 354.72 Weighted average grant-date fair value per share of shares purchased $ 138.80 $ 114.08 $ 104.84 Number of shares purchased 166,023 167,113 146,640 |
Assumptions in computation of fair value | We use 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: 2021 2020 2019 Range of dividend yield 1.58 - 1.77% 1.94 - 2.08% 2.07 - 2.09% Range of risk-free interest rate 0.01 - 0.21% 0.10 - 1.55% 1.55 - 2.58% Range of expected volatility 25.54 - 41.24% 19.28 - 51.93% 19.27 - 25.55% Weighted-average expected volatility 34.08 % 32.94 % 22.95 % Weighted average expected life (in years) 1.18 1.36 1.24 |
Schedule of allocated share-based compensation | The following table presents, by operating expense, our stock-based compensation expense recognized in our consolidated statement of operations for the years ended December 31 (in thousands): 2021 2020 2019 Cost of revenues $ 38,438 $ 32,893 $ 25,355 Sales and marketing 79,144 72,895 56,719 General and administrative 246,192 205,232 154,465 Total $ 363,774 $ 311,020 $ 236,539 |
Schedule of share-based compensation by plan | Our 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): 2021 2020 2019 RSUs $ 330,077 $ 289,426 $ 217,541 RSAs (1) 10,067 8,289 — Employee stock purchase plan 23,630 13,305 18,998 Total $ 363,774 $ 311,020 $ 236,539 (1) During the year ended December 31, 2020, we awarded 48,799 shares of RSAs. See Note 1 for further discussion. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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): 2021 2020 2019 Domestic $ 137,492 $ 18,395 $ 328,806 Foreign 471,460 497,830 363,791 Income before income taxes $ 608,952 $ 516,225 $ 692,597 |
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): 2021 2020 2019 Current: Federal $ 7,753 $ 4,552 $ (17,906) State and local (156) 1,597 (4,624) Foreign (76,450) (171,092) (135,356) Subtotal (68,853) (164,943) (157,886) Deferred: Federal 11,060 16,553 (7,459) State and local (1,411) 704 (1,775) Foreign (50,020) 1,535 (18,232) Subtotal (40,371) 18,792 (27,466) Income tax expense $ (109,224) $ (146,151) $ (185,352) |
Income tax reconciliation | The fiscal 2021, 2020, and 2019 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): 2021 2020 2019 Federal tax at statutory rate $ (127,880) $ (109,906) $ (145,445) State and local tax (expense) benefit (1,513) 2,071 (5,852) Deferred tax assets generated in current year not benefited (19,703) (12,852) (5,398) Foreign income tax rate differential (18,918) (16,364) (11,610) Non-deductible expenses (10,579) (4,427) (1,021) Stock-based compensation expense (1,385) (954) (2,105) Change in valuation allowance (595) 390 (2,870) Foreign financing activities (4,805) (11,743) (18,738) Loss on divestments — — (3,277) Uncertain tax positions reserve 50,059 (38,014) (35,724) Tax adjustments related to REIT 39,164 50,107 63,614 Change in deferred tax adjustments (1,251) (136) (10,574) Effect of tax rate change on deferred tax assets (12,297) — — Other, net 479 (4,323) (6,352) Total income tax expense $ (109,224) $ (146,151) $ (185,352) |
Schedule of deferred tax assets and liabilities | The types of temporary differences that give rise to significant portions of our deferred tax assets and liabilities are set out below as of December 31 (in thousands): 2021 2020 (1) Deferred tax assets: Stock-based compensation expense $ 9,057 $ 5,583 Net unrealized losses — 17,268 Operating lease liabilities 225,261 187,912 Capital lease liabilities 13,927 26,655 Deferred revenue 14,429 10,785 Loss carryforwards and tax credits 201,132 117,150 Others, net 7,257 4,296 Gross deferred tax assets 471,063 369,649 Valuation allowance (100,746) (82,344) Total deferred tax assets, net 370,317 287,305 Deferred tax liabilities: Net unrealized gains (1,462) — Property, plant and equipment (262,532) (145,314) Right-of-use assets (233,199) (201,714) Deferred income (33,052) (31,538) Intangible assets (120,543) (132,681) Total deferred tax liabilities (650,788) (511,247) Net deferred tax liabilities $ (280,471) $ (223,942) (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, 2021, 2020 and 2019 are as follows (in thousands): 2021 2020 2019 Beginning balance $ 82,344 $ 57,812 $ 57,003 Amounts from acquisitions 964 5,777 (2,707) Divested balances — — (351) Amounts recognized into income 595 (390) 2,870 Current increase 19,539 15,044 697 Impact of foreign currency exchange (2,696) 4,101 300 Ending balance $ 100,746 $ 82,344 $ 57,812 |
Schedule of net operating loss carryforwards | Our NOL carryforwards for federal, state and foreign tax purposes which expire, if not utilized, at various intervals from 2022, are outlined below (in thousands): Expiration Date Federal (1) State Foreign (2) (3) Total 2022 $ 20,808 $ — $ 754 $ 21,562 2023 to 2025 26,838 112 25,876 52,826 2026 to 2028 12,186 — 12,560 24,746 2029 to 2031 — 767 32,849 33,616 2032 to 2034 394 822 — 1,216 2035 to 2037 6,739 2,491 3,838 13,068 Thereafter 437,683 80,613 488,897 1,007,193 $ 504,648 $ 84,805 $ 564,774 $ 1,154,227 (1) The total amount of NOL carryforwards that will not be available to offset our future taxable income after the dividends paid deduction due to Section 382 limitations was $56.7 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 our unrecognized tax benefits are reconciled below for the years ended December 31 (in thousands): 2021 2020 2019 Beginning balance $ 207,759 $ 173,726 $ 150,930 Gross increases related to prior year tax positions 4,547 14,732 — Gross decreases related to prior year tax positions (58,356) — (1,160) Gross increases related to current year tax positions 10,000 29,149 31,332 Decreases resulting from expiration of statute of limitation (10,561) (6,518) (2,112) Decreases resulting from settlements (5,089) (3,330) (5,264) Ending balance $ 148,300 $ 207,759 $ 173,726 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Summary of related party transactions | The following table presents the revenues and expenses from these arrangements with the Joint Ventures in our consolidated statements of operations (in thousands): Years Ended December 31, Related Party Nature of Transaction 2021 2020 2019 EMEA 1 Joint Venture Revenues $ 42,387 $ 21,306 $ 3,707 EMEA 1 Joint Venture Expenses (1) 8,303 14,935 2,076 Asia-Pacific 1 Joint Venture Revenues 21,223 588 — EMEA 2 Joint Venture Revenues 7,097 — — (1) We have a sub-lease agreement with the EMEA 1 Joint Venture to sub-lease a portion of London ("LD") 10-2 data center or former LD10 data center, for a total of 15 years. Balances primarily consist of rent expenses for the LD10-2 data center. The following table presents the assets and liabilities from related party transactions with the Joint Ventures in our consolidated balance sheets (in thousands): As of December 31, Related Party Balance Sheet Line Item 2021 2020 EMEA 1 Joint Venture Receivables $ 32,077 $ 6,459 Contract Assets (1) 54,503 5,614 Finance Lease R ight of Use Assets 118,817 127,197 Other Liabilities and Payables (2) 2,483 17,646 Other Liabilities and Payables - construction obligation (3) 39,382 55,607 Deferred Revenue 16,886 — Finance Lease R ight of Use Liabilities 124,918 130,756 Asia- Pacific 1 Joint Venture Receivables 2,124 16,936 Payables 121 — EMEA 2 Joint Venture Receivables 26,953 — Contract Assets 1,492 — Payables 1,755 — (1) A portion of the EMEA 1 Joint Venture contract asset balance relates to commitments to complete a residual portion of the Paris 9 data center sold to the EMEA 1 Joint Venture, which is reimbursable in full upon completion. (2) Balance as of December 31, 2021 primarily pertained to commercial service agreements. Balance as of December 31, 2020 pertained to the lease agreement in place for the construction of the Frankfurt 9 xScale data center. As of December 31, 2021 the lease has commenced and was accounted as a sale-type lease. (3) Balances primarily relate to obligations to pay for future construction for certain sites sold as a part of the EMEA 1 Joint Venture transaction. The prior year amounts presented in the table above have been reclassified to conform with the current year presentation. Years ended December 31, 2021 2020 2019 Revenues $ 140,947 $ 95,264 $ 25,905 Costs and services 5,337 10,849 15,844 As of December 31, 2021 2020 Accounts receivable $ 27,997 $ 6,519 Accounts payable 20 — |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Segment Reporting [Abstract] | |
Revenue Information by Category | The following tables present revenue information disaggregated by product lines and geographic areas (in thousands): Year Ended December 31, 2021 Americas EMEA Asia-Pacific Total Colocation (1) $ 2,002,253 $ 1,597,830 $ 1,042,131 $ 4,642,214 Interconnection 678,677 259,538 223,287 1,161,502 Managed infrastructure 168,577 124,937 87,343 380,857 Other (1) 12,430 19,626 3,856 35,912 Recurring revenues 2,861,937 2,001,931 1,356,617 6,220,485 Non-recurring revenues 159,814 153,285 101,953 415,052 Total $ 3,021,751 $ 2,155,216 $ 1,458,570 $ 6,635,537 (1) Includes some leasing and hedging activities. Year Ended December 31, 2020 Americas 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. Year Ended December 31, 2019 Americas 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 |
Schedule of Adjusted EBITDA | We define adjusted EBITDA as income from operations excluding depreciation, amortization, accretion, stock-based compensation expense, restructuring charges, impairment charges, transaction costs and gain or loss on asset sales as presented below for the years ended December 31 (in thousands): 2021 2020 2019 Adjusted EBITDA: Americas $ 1,326,460 $ 1,186,022 $ 1,237,622 EMEA 1,033,333 974,246 827,980 Asia-Pacific 784,591 692,630 622,125 Total adjusted EBITDA 3,144,384 2,852,898 2,687,727 Depreciation, amortization and accretion expense (1,660,524) (1,427,010) (1,285,296) Stock-based compensation expense (363,774) (311,020) (236,539) Transaction costs (22,769) (55,935) (24,781) Impairment charges — (7,306) (15,790) Gain on asset sales 10,845 1,301 44,310 Income from operations $ 1,108,162 $ 1,052,928 $ 1,169,631 |
Continuing Operations | We also provide the following segment disclosures related to our operations as follows for the years ended December 31 (in thousands): 2021 2020 2019 Depreciation and amortization: Americas $ 865,910 $ 729,611 $ 669,498 EMEA 455,651 389,332 353,765 Asia-Pacific 334,729 304,426 261,574 Total $ 1,656,290 $ 1,423,369 $ 1,284,837 Capital expenditures: Americas $ 970,217 $ 866,989 $ 805,360 EMEA 1,049,279 888,239 733,326 Asia-Pacific 732,016 527,276 540,835 Total $ 2,751,512 $ 2,282,504 $ 2,079,521 Our 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): 2021 2020 Americas (1) $ 6,777,174 $ 6,429,861 EMEA 5,125,341 5,002,271 Asia-Pacific 3,543,260 3,070,952 Total Property, plant and equipment, net $ 15,445,775 $ 14,503,084 (1) Includes $5.4 billion and $5.2 billion, respectively, of property, plant and equipment, net attributed to the U.S. as of December 31, 2021 and 2020. 2021 2020 Americas (1) $ 297,300 $ 363,515 EMEA 470,330 547,547 Asia-Pacific 514,788 563,995 Total Operating lease right-of-use assets $ 1,282,418 $ 1,475,057 (1) Includes $271.0 million and $334.7 million of operating lease ROU assets attributed to the U.S. as of December 31, 2021 and 2020, respectively. |
Nature of Business and Summar_4
Nature of Business and Summary of Significant Accounting Policies - Narrative (Details) | 3 Months Ended | 12 Months Ended | |||||||
Mar. 31, 2020USD ($) | Dec. 31, 2021USD ($)providersegmentmarketcenter | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Sep. 01, 2021center | Nov. 02, 2020center | Oct. 01, 2020center | Jan. 08, 2020center | Dec. 31, 2018USD ($) | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Number of network providers that provide internet access (more than) | provider | 2,000 | ||||||||
Data centers sites | center | 240 | ||||||||
Number of markets | market | 66 | ||||||||
Cash equivalents maturity period (in days) | 90 days | 90 days | |||||||
Equity method investments, impairment charges | $ 0 | $ 0 | $ 0 | ||||||
Non-marketable equity investments, impairment charges | 0 | 0 | 0 | ||||||
Impairment charges on property plant and equipment | 0 | 7,306,000 | 15,790,000 | ||||||
Impairment charges | $ 0 | 7,306,000 | 15,790,000 | ||||||
Number of reportable segments | segment | 3 | ||||||||
Goodwill impairment | $ 0 | 0 | 0 | ||||||
Impairment charges, intangible assets | $ 0 | 0 | 0 | ||||||
Percentage of recurring revenue | 90.00% | ||||||||
Contract cost, amortization period | 5 years 6 months | ||||||||
Cumulative effect of adoption of new accounting standard | $ 10,881,764,000 | 10,634,118,000 | 8,840,382,000 | $ 7,219,279,000 | |||||
Property, plant and equipment | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Impairment charges on property plant and equipment | $ 0 | 0 | 0 | ||||||
RSU | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Vesting period | 4 years | ||||||||
RSA | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Vesting period | 3 years | ||||||||
COVID-19 | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Payments to employees | $ 8,600,000 | ||||||||
Axtel | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Number of data centers acquired | center | 3 | ||||||||
Bell | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Number of data centers acquired | center | 1 | 12 | |||||||
GPX India Acquisition | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Number of data centers acquired | center | 2 | ||||||||
Adjustment from adoption of new accounting standard | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Cumulative effect of adoption of new accounting standard | (900,000) | (5,973,000) | |||||||
Minimum | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Short term investment maturity (in days and years) | 90 days | ||||||||
Payment terms | 30 | ||||||||
Maximum | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Short term investment maturity (in days and years) | 1 year | ||||||||
Payment terms | 45 | ||||||||
Paris IBX Data Center | Minimum | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Revenue, requirement of payment, terms | 1 | ||||||||
Paris IBX Data Center | Maximum | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Revenue, requirement of payment, terms | 3 years | ||||||||
Executive Officer | Minimum | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Vesting period | 2 years | ||||||||
Executive Officer | Maximum | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Vesting period | 4 years | ||||||||
Retained Earnings | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Cumulative effect of adoption of new accounting standard | $ 2,260,493,000 | $ 1,760,302,000 | 1,391,425,000 | 889,948,000 | |||||
Retained Earnings | Adjustment from adoption of new accounting standard | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Cumulative effect of adoption of new accounting standard | (900,000) | $ (5,973,000) | |||||||
Retained Earnings | Adjustment from adoption of new accounting standard | Accounting Standards Update 2016-13 | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Cumulative effect of adoption of new accounting standard | $ (900,000) |
Nature of Business and Summar_5
Nature of Business and Summary of Significant Accounting Policies - Schedule of Revenue by Geographical Region (Details) - Geographic concentration risk - Sales | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Americas | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Percentages of revenue by geographic regions | 46.00% | 45.00% | 47.00% |
EMEA | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Percentages of revenue by geographic regions | 32.00% | 33.00% | 32.00% |
Asia-Pacific | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Percentages of revenue by geographic regions | 22.00% | 22.00% | 21.00% |
Nature of Business and Summar_6
Nature of Business and Summary of Significant Accounting Policies - Estimated Useful Lives of Property, Plant and Equipment (Details) | 12 Months Ended |
Dec. 31, 2021 | |
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 | 60 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 |
Revenue - Opening and Closing B
Revenue - Opening and Closing Balances (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |||
Accounts receivable, net | $ 681,809 | $ 676,738 | $ 689,134 |
Increase (decrease) in accounts receivables | 5,071 | (12,396) | |
Contract assets, current | 65,392 | 13,534 | 10,033 |
Increase (decrease) in contract asset, current | 51,858 | 3,501 | |
Contract assets, non-current | 55,486 | 54,050 | 31,521 |
Increase (decrease) in contract asset, non-current | 1,436 | 22,529 | |
Customer deposits | 109,736 | 101,258 | 76,193 |
Increase (decrease) in deferred revenue, current | 8,478 | 25,065 | |
Deferred revenue, non-current | 87,495 | 71,242 | $ 46,555 |
Increase (decrease) in deferred revenue, non-current | $ 16,253 | $ 24,687 |
Revenue - Remaining Performance
Revenue - Remaining Performance Obligation - Narrative (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |||
Deferred revenue, revenue recognized | $ 93,100,000 | $ 87,000,000 | $ 87,300,000 |
Contract cost impairment | 0 | 0 | 0 |
Contract costs | 325,510,000 | 267,978,000 | |
Capitalized contract cost, amortization | 87,600,000 | $ 85,400,000 | $ 72,900,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Revenue, remaining performance obligation | $ 9,100,000,000 | ||
Renewal term | 1 year | ||
Minimum | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Revenue, requirement of payment, terms | 1 year | ||
Maximum | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Revenue, requirement of payment, terms | 3 years | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Revenue, requirement of payment, terms | 2 years | ||
Revenue, remaining performance obligation, percentage | 70.00% | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Revenue, requirement of payment, terms | 3 years | ||
Revenue, remaining performance obligation, percentage | 30.00% |
Acquisitions - Narrative (Detai
Acquisitions - Narrative (Detail) $ in Thousands, € in Millions, $ in Millions, ₨ in Billions | Sep. 01, 2021USD ($)center | Sep. 01, 2021INR (₨)center | Nov. 02, 2020USD ($)center | Nov. 02, 2020CAD ($)center | Mar. 02, 2020USD ($) | Jan. 08, 2020USD ($)center | Apr. 18, 2019USD ($) | Apr. 18, 2019EUR (€) | Jun. 30, 2022USD ($) | Mar. 31, 2020USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2021acquisition | Oct. 01, 2020center |
Business Acquisition [Line Items] | |||||||||||||||
Stock-based compensation expense | $ 363,774 | $ 311,020 | $ 236,539 | ||||||||||||
Number of acquisitions | acquisition | 4 | ||||||||||||||
Revenues | 6,635,537 | $ 5,998,545 | $ 5,562,140 | ||||||||||||
MainOne Cable Company Ltd. | Forecast | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Cash consideration for acquisition | $ 320,000 | ||||||||||||||
GPX India | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Consideration transferred | $ 170,500 | ₨ 12.5 | |||||||||||||
Number of data centers acquired | center | 2 | 2 | |||||||||||||
Revenues | $ 6,900 | ||||||||||||||
Bell | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Consideration transferred | $ 704,000 | $ 934.3 | |||||||||||||
Number of data centers acquired | center | 1 | 1 | 12 | ||||||||||||
Packet Host, Inc. | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Consideration transferred | $ 290,300 | ||||||||||||||
Stock-based compensation expense | $ 16,100 | ||||||||||||||
Value of equity issued | $ 30,200 | ||||||||||||||
Vesting period | 3 years | ||||||||||||||
Axtel | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Cash consideration for acquisition | $ 175,000 | ||||||||||||||
Consideration transferred | $ 189,000 | ||||||||||||||
Number of data centers acquired | center | 3 | ||||||||||||||
Value added taxes | $ 14,000 | ||||||||||||||
Switch Datacenters' AMS1 | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Cash consideration for acquisition | $ 34,300 | € 30.6 |
Acquisitions - Preliminary Purc
Acquisitions - Preliminary Purchase Price Allocation (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Sep. 01, 2021 | Dec. 31, 2020 | Oct. 01, 2020 | Mar. 02, 2020 | Jan. 08, 2020 | Dec. 31, 2019 |
Allocation of purchase price consideration | |||||||
Goodwill | $ 5,372,071 | $ 5,472,553 | $ 4,781,858 | ||||
GPX India | |||||||
Allocation of purchase price consideration | |||||||
Cash and cash equivalents | $ 9,406 | ||||||
Accounts receivable | 4,399 | ||||||
Other current assets | 8,883 | ||||||
Property, plant and equipment | 88,108 | ||||||
Operating lease right-of-use assets | 62 | ||||||
Intangible assets | 15,472 | ||||||
Goodwill | 77,162 | ||||||
Deferred tax and other assets | 20 | ||||||
Total assets acquired | 203,512 | ||||||
Accounts payable and accrued liabilities | (1,569) | ||||||
Other current liabilities | (478) | ||||||
Operating lease liabilities | (62) | ||||||
Finance lease liabilities | (20,565) | ||||||
Deferred tax and other liabilities | (10,373) | ||||||
Net assets acquired | $ 170,465 | ||||||
Bell | |||||||
Allocation of purchase price consideration | |||||||
Cash and cash equivalents | $ 0 | ||||||
Accounts receivable | 0 | ||||||
Other current assets | 696 | ||||||
Property, plant and equipment | 538,717 | ||||||
Operating lease right-of-use assets | 14,359 | ||||||
Intangible assets | 75,857 | ||||||
Goodwill | 172,387 | ||||||
Deferred tax and other assets | 722 | ||||||
Total assets acquired | 802,738 | ||||||
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 | $ 703,982 | ||||||
Packet Host, Inc. | |||||||
Allocation of purchase price consideration | |||||||
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 | ||||||
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 | ||||||
Axtel | |||||||
Allocation of purchase price consideration | |||||||
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 | ||||||
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 - Intangible Asset
Acquisitions - Intangible Assets (Details) $ in Thousands | Sep. 01, 2021USD ($) | Mar. 02, 2020USD ($) | Jan. 08, 2020USD ($) | Nov. 02, 2020USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Business Acquisition [Line Items] | |||||||
Fair Value | $ 1,568 | ||||||
GPX India | |||||||
Business Acquisition [Line Items] | |||||||
Fair Value | $ 15,472 | ||||||
Bell | |||||||
Business Acquisition [Line Items] | |||||||
Fair Value | $ 75,631 | ||||||
Packet Host, Inc. | |||||||
Business Acquisition [Line Items] | |||||||
Fair Value | 58,500 | ||||||
Axtel | |||||||
Business Acquisition [Line Items] | |||||||
Fair Value | $ 22,750 | ||||||
Customer relationships | GPX India | |||||||
Business Acquisition [Line Items] | |||||||
Fair Value | $ 15,472 | ||||||
Estimated Useful Lives (Years) | 15 years | ||||||
Weighted-average Estimated Useful Lives (Years) | 15 years | ||||||
Customer relationships | GPX India | Discount Rate | |||||||
Business Acquisition [Line Items] | |||||||
Finite-lived intangible assets acquired, measurement input | 0.110 | ||||||
Customer relationships | Bell | |||||||
Business Acquisition [Line Items] | |||||||
Fair Value | $ 75,857,000 | ||||||
Estimated Useful Lives (Years) | 15 years | ||||||
Weighted-average Estimated Useful Lives (Years) | 15 years | ||||||
Customer relationships | Bell | Discount Rate | |||||||
Business Acquisition [Line Items] | |||||||
Finite-lived intangible assets acquired, measurement input | 0.080 | ||||||
Customer relationships | Packet Host, Inc. | |||||||
Business Acquisition [Line Items] | |||||||
Fair Value | $ 52,100 | ||||||
Estimated Useful Lives (Years) | 10 years | ||||||
Weighted-average Estimated Useful Lives (Years) | 10 years | ||||||
Customer relationships | Packet Host, Inc. | Discount Rate | |||||||
Business Acquisition [Line Items] | |||||||
Finite-lived intangible assets acquired, measurement input | 0.080 | ||||||
Customer relationships | Axtel | |||||||
Business Acquisition [Line Items] | |||||||
Fair Value | $ 22,750 | ||||||
Estimated Useful Lives (Years) | 15 years | ||||||
Weighted-average Estimated Useful Lives (Years) | 15 years | ||||||
Customer relationships | Axtel | Discount Rate | |||||||
Business Acquisition [Line Items] | |||||||
Finite-lived intangible assets acquired, measurement input | 0.133 | ||||||
Trade names | Packet Host, Inc. | |||||||
Business Acquisition [Line Items] | |||||||
Fair Value | $ 1,300 | ||||||
Estimated Useful Lives (Years) | 3 years | ||||||
Weighted-average Estimated Useful Lives (Years) | 3 years | ||||||
Trade names | Packet Host, Inc. | Discount Rate | |||||||
Business Acquisition [Line Items] | |||||||
Finite-lived intangible assets acquired, measurement input | 0.080 | ||||||
Trade names | Packet Host, Inc. | Royalty Method, Royalty Rate | |||||||
Business Acquisition [Line Items] | |||||||
Finite-lived intangible assets acquired, measurement input | 0.010 | ||||||
Existing technology | Packet Host, Inc. | |||||||
Business Acquisition [Line Items] | |||||||
Fair Value | $ 5,100 | ||||||
Estimated Useful Lives (Years) | 3 years | ||||||
Weighted-average Estimated Useful Lives (Years) | 3 years | ||||||
Existing technology | Packet Host, Inc. | Discount Rate | |||||||
Business Acquisition [Line Items] | |||||||
Finite-lived intangible assets acquired, measurement input | 0.080 |
Earnings Per Share - Computatio
Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |||
Net income | $ 499,728 | $ 370,074 | $ 507,245 |
Net (income) loss attributable to non-controlling interests | 463 | (297) | 205 |
Net income attributable to Equinix | $ 500,191 | $ 369,777 | $ 507,450 |
Weighted-average shares used to calculate basic EPS (in shares) | 89,772 | 87,700 | 84,140 |
Effect of dilutive securities: | |||
Employee equity awards (in shares) | 637 | 710 | 539 |
Weighted-average shares used to calculate diluted EPS (in shares) | 90,409 | 88,410 | 84,679 |
Basic EPS (in dollars per share) | $ 5.57 | $ 4.22 | $ 6.03 |
Diluted EPS (in dollars per share) | $ 5.53 | $ 4.18 | $ 5.99 |
Earnings Per Share - Anti-dilut
Earnings Per Share - Anti-dilutive Potential Shares of Common Stock Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Common stock related to employee equity awards (in shares) | 206 | 19 | 21 |
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) | 206 | 19 | 21 |
Assets Held for Sale - Narrativ
Assets Held for Sale - Narrative (Details) $ in Thousands | Dec. 17, 2020USD ($)site | Dec. 15, 2020USD ($) | Oct. 31, 2021USD ($) | Sep. 30, 2021USD ($) | Jul. 31, 2021USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Apr. 30, 2020 |
Long Lived Assets Held-for-sale [Line Items] | ||||||||||
Equity method investments | $ 245,049 | $ 163,071 | ||||||||
Impairment charges | $ 0 | 7,306 | $ 15,790 | |||||||
Asia-Pacific Joint Venture 2 | ||||||||||
Long Lived Assets Held-for-sale [Line Items] | ||||||||||
Ownership percentage | 20.00% | |||||||||
EMEA 2 Joint Venture | ||||||||||
Long Lived Assets Held-for-sale [Line Items] | ||||||||||
Ownership percentage | 20.00% | |||||||||
Equity method investments | $ 30,400 | |||||||||
EMEA 2 Joint Venture | Disposed of by sale | Frankfurt, Helsinki, Madrid, Milan, and Paris Data Center Sites | ||||||||||
Long Lived Assets Held-for-sale [Line Items] | ||||||||||
Consideration | 144,000 | |||||||||
Proceeds from sale of data centers | 106,400 | |||||||||
Accounts receivable acquired in sale of asset | $ 7,200 | |||||||||
EMEA 2 Joint Venture | Disposed of by sale | SP5 Data Center | ||||||||||
Long Lived Assets Held-for-sale [Line Items] | ||||||||||
Consideration | $ 34,300 | |||||||||
EMEA 1 Joint Venture | ||||||||||
Long Lived Assets Held-for-sale [Line Items] | ||||||||||
Ownership percentage | 20.00% | |||||||||
Equity method investments | $ 131,516 | 101,892 | ||||||||
EMEA 1 Joint Venture | Disposed of by sale | DB5 Data Center | ||||||||||
Long Lived Assets Held-for-sale [Line Items] | ||||||||||
Consideration | $ 77,900 | |||||||||
Gain (loss) on sale | 15,800 | |||||||||
EMEA 1 Joint Venture | Disposed of by sale | Paris 9 Data Center | ||||||||||
Long Lived Assets Held-for-sale [Line Items] | ||||||||||
Consideration | $ 131,500 | |||||||||
Proceeds from sale of data centers | 124,600 | |||||||||
Fair value of contract asset | $ 5,600 | |||||||||
Other commitment | 17,700 | |||||||||
EMEA 1 Joint Venture | Disposed of by sale | European xScale Data Center | Fair Value, Inputs, Level 3 | ||||||||||
Long Lived Assets Held-for-sale [Line Items] | ||||||||||
Contingent consideration | $ 5,300 | $ 44,200 | ||||||||
Asia-Pacific 1 Joint Venture | ||||||||||
Long Lived Assets Held-for-sale [Line Items] | ||||||||||
Ownership percentage | 20.00% | |||||||||
Asia-Pacific 1 Joint Venture | Disposed of by sale | Japan xScale Data Centers | ||||||||||
Long Lived Assets Held-for-sale [Line Items] | ||||||||||
Proceeds from sale of data centers | $ 209,800 | |||||||||
Accounts receivable acquired in sale of asset | $ 15,600 | |||||||||
Number of development sites | site | 3 | |||||||||
Impairment charges | $ 7,300 | |||||||||
PGIM | Asia-Pacific Joint Venture 2 | ||||||||||
Long Lived Assets Held-for-sale [Line Items] | ||||||||||
Ownership percentage | 80.00% | |||||||||
GIC Private Limited | Asia-Pacific 1 Joint Venture | ||||||||||
Long Lived Assets Held-for-sale [Line Items] | ||||||||||
Ownership percentage | 80.00% |
Assets Held for Sale - Assets a
Assets Held for Sale - Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Long Lived Assets Held-for-sale [Line Items] | ||
Operating lease right-of-use assets | $ 1,282,418 | $ 1,475,057 |
Property, plant and equipment | 15,445,775 | 14,503,084 |
Other assets | 926,066 | 776,047 |
Total assets | 27,918,698 | 27,006,841 |
Accounts payable and accrued expenses | 879,144 | 844,862 |
Current portion of operating lease liabilities | 144,029 | 154,207 |
Operating lease liabilities, less current portion | 1,107,180 | 1,308,627 |
Accrued property, plant and equipment | 187,334 | 301,155 |
Total liabilities | 17,036,934 | $ 16,372,723 |
Disposal Group, Held-for-sale, Not Discontinued Operations | SY9, MX3, and WA4 Data Centers to be Sold | ||
Long Lived Assets Held-for-sale [Line Items] | ||
Operating lease right-of-use assets | 12,835 | |
Property, plant and equipment | 260,182 | |
Other assets | 3,178 | |
Total assets | 276,195 | |
Accounts payable and accrued expenses | 510 | |
Current portion of operating lease liabilities | 2,039 | |
Operating lease liabilities, less current portion | 348 | |
Accrued property, plant and equipment | 18,127 | |
Total liabilities | $ 21,024 |
Equity Method Investments - Sch
Equity Method Investments - Schedule of Equity Method Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | Apr. 30, 2020 |
Schedule of Equity Method Investments [Line Items] | ||||
Equity method investments | $ 245,049 | $ 163,071 | ||
EMEA 1 Joint Venture | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Ownership Percentage | 20.00% | |||
Equity method investments | $ 131,516 | 101,892 | ||
EMEA 2 Joint Venture | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Ownership Percentage | 20.00% | |||
Equity method investments | $ 30,400 | |||
EMEA 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Ownership Percentage | 20.00% | |||
Equity method investments | 0 | |||
Asia-Pacific 1 Joint Venture | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Ownership Percentage | 20.00% | |||
Asia-Pacific 1 Joint Venture | Variable Interest Entity, Not Primary Beneficiary | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Ownership Percentage | 20.00% | |||
Equity method investments | 43,432 | |||
Other | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity method investments | $ 18,481 | $ 17,747 |
Equity Method Investments - Nar
Equity Method Investments - Narrative (Details) $ in Millions | Dec. 31, 2021USD ($) |
EMEA 1 Joint Venture | Equity contribution commitment | |
Schedule of Equity Method Investments [Line Items] | |
Equity contribution commitment | $ 26 |
Equity Method Investments - S_2
Equity Method Investments - Schedule of Maximum Exposure Loss (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | Apr. 30, 2020 |
Variable Interest Entity [Line Items] | ||||
Equity investment | $ 245,049 | $ 163,071 | ||
Outstanding receivables | $ 27,997 | 6,519 | ||
Asia-Pacific 1 Joint Venture | ||||
Variable Interest Entity [Line Items] | ||||
Ownership Percentage | 20.00% | |||
Asia-Pacific 1 Joint Venture | Variable Interest Entity, Not Primary Beneficiary | ||||
Variable Interest Entity [Line Items] | ||||
Equity investment | 43,432 | |||
Ownership Percentage | 20.00% | |||
Asia-Pacific 1 Joint Venture | Variable Interest Entity, Not Primary Beneficiary | Joint Venture | ||||
Variable Interest Entity [Line Items] | ||||
Equity investment | $ 60,108 | |||
Outstanding receivables | 2,124 | 16,936 | ||
Future equity contribution commitments | 11,424 | |||
Total | $ 73,656 | |||
EMEA 2 Joint Venture | ||||
Variable Interest Entity [Line Items] | ||||
Equity investment | $ 30,400 | |||
Ownership Percentage | 20.00% | |||
EMEA 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary | ||||
Variable Interest Entity [Line Items] | ||||
Equity investment | 0 | |||
Ownership Percentage | 20.00% | |||
EMEA 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary | Joint Venture | ||||
Variable Interest Entity [Line Items] | ||||
Equity investment | $ 34,944 | |||
Outstanding receivables | 26,953 | $ 0 | ||
Future equity contribution commitments | 64,875 | |||
Total | $ 164,890 | |||
Ownership Percentage | 20.00% | |||
EMEA 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary | EMEA 2 Joint Venture Credit Facility | ||||
Variable Interest Entity [Line Items] | ||||
Maximum future payments under debt guarantees | $ 38,100 | |||
Percentage guarantee on debt payments | 0.20 | |||
EMEA 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary | EMEA 2 Joint Venture Credit Facility | Joint Venture | ||||
Variable Interest Entity [Line Items] | ||||
Maximum future payments under debt guarantees | $ 38,118 | |||
Percentage guarantee on debt payments | 0.20 |
Balance Sheet Components - Cash
Balance Sheet Components - Cash, Cash Equivalents and Short-Term Investments (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash and cash equivalents: | |||
Cash and cash equivalents | $ 1,536,358 | $ 1,604,869 | $ 1,869,577 |
Short-term investments: | |||
Certificates of deposit | 0 | 4,373 | |
Publicly traded equity securities | 0 | 159 | |
Total short-term investments | 0 | 4,532 | |
Total cash, cash equivalents and short-term investments | $ 1,536,358 | $ 1,609,401 | |
Cash equivalents maturity period (in days) | 90 days | 90 days | |
Cash | |||
Cash and cash equivalents: | |||
Cash and cash equivalents | $ 950,677 | $ 993,798 | |
Money market funds | |||
Cash and cash equivalents: | |||
Cash and cash equivalents | $ 585,681 | $ 611,071 |
Balance Sheet Components - Acco
Balance Sheet Components - Accounts Receivable, Net (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Receivables [Abstract] | ||||
Accounts receivable | $ 693,444 | $ 687,415 | ||
Allowance for credit losses | (11,635) | (10,677) | $ (13,026) | $ (15,950) |
Accounts receivable, net | $ 681,809 | $ 676,738 | $ 689,134 |
Balance Sheet Components - Acti
Balance Sheet Components - Activities of Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Beginning Balance | $ 10,677 | $ 13,026 | $ 15,950 |
Provision for doubtful accounts | 10,016 | 5,069 | 8,459 |
Net write-offs | (8,295) | (10,050) | (11,341) |
Impact of foreign currency exchange | (763) | 1,732 | (42) |
Ending Balance | $ 11,635 | 10,677 | $ 13,026 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Prepaid expenses | $ 65,224 | $ 61,424 | |
Taxes receivable | 128,123 | 125,614 | |
Restricted cash, current | 12,188 | 11,135 | |
Other receivables | 59,224 | 44,333 | |
Derivative instruments | 117,432 | 8,906 | |
Contract assets, current | 65,392 | 13,534 | $ 10,033 |
Other current assets | 15,156 | 58,070 | |
Total other current assets | 462,739 | 323,016 | |
Other | Disposed of by sale | European xScale Data Center | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Contingent consideration | $ 5,300 | ||
Other | Disposed of by sale | European xScale Data Center | Contingency consideration | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Contingent consideration | $ 44,200 |
Balance Sheet Components - Prop
Balance Sheet Components - Property, Plant and Equipment, Net (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 23,702,864 | $ 21,679,353 |
Less accumulated depreciation | (8,257,089) | (7,176,269) |
Property, plant and equipment, net | 15,445,775 | 14,503,084 |
Capitalized computer software | 1,200,000 | 885,500 |
Core systems | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 10,808,417 | 9,659,908 |
Buildings | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 7,381,644 | 6,557,121 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 2,022,617 | 1,946,644 |
Construction in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 967,562 | 1,363,917 |
Personal property | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 1,551,642 | 1,207,669 |
Land | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 970,982 | $ 944,094 |
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, 2021 | Dec. 31, 2019 | Dec. 31, 2018 | |
Goodwill And Intangible Assets [Line Items] | |||||
Goodwill | $ 5,472,553 | $ 5,472,553 | $ 5,372,071 | $ 4,781,858 | |
Intangible assets, gross | 3,023,746 | 3,023,746 | 2,968,301 | ||
Accumulated amortization | (852,801) | (852,801) | (1,033,034) | ||
Total | 2,170,945 | 2,170,945 | 1,935,267 | 2,102,389 | $ 2,333,296 |
Purchase consideration for asset acquisition | 64,905 | ||||
Customer relationships | |||||
Goodwill And Intangible Assets [Line Items] | |||||
Intangible assets, gross | 2,891,060 | 2,891,060 | 2,841,372 | ||
Accumulated amortization | (818,370) | (818,370) | (987,462) | ||
Trade names | |||||
Goodwill And Intangible Assets [Line Items] | |||||
Intangible assets, gross | 11,512 | 11,512 | 11,471 | ||
Accumulated amortization | (2,337) | (2,337) | (3,207) | ||
In-place leases | |||||
Goodwill And Intangible Assets [Line Items] | |||||
Intangible assets, gross | 33,770 | 33,770 | 32,760 | ||
Accumulated amortization | (20,037) | (20,037) | (22,847) | ||
Licenses | |||||
Goodwill And Intangible Assets [Line Items] | |||||
Intangible assets, gross | 9,697 | 9,697 | 9,697 | ||
Accumulated amortization | (6,600) | (6,600) | (5,821) | ||
At-the-money lease contracts | |||||
Goodwill And Intangible Assets [Line Items] | |||||
Intangible assets, gross | $ 64,905 | $ 64,905 | 60,455 | ||
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 | 12,546 | ||
Accumulated amortization | (5,457) | (5,457) | (13,697) | ||
Americas | |||||
Goodwill And Intangible Assets [Line Items] | |||||
Goodwill | 2,212,782 | 2,212,782 | 2,210,009 | 1,741,689 | |
Total | 1,463,089 | 1,463,089 | 1,327,753 | 1,443,292 | 1,578,971 |
Purchase consideration for asset acquisition | 0 | ||||
EMEA | |||||
Goodwill And Intangible Assets [Line Items] | |||||
Goodwill | 2,611,166 | 2,611,166 | 2,472,586 | 2,426,306 | |
Total | 518,027 | 518,027 | 431,942 | 466,564 | 543,860 |
Purchase consideration for asset acquisition | 64,905 | ||||
Asia-Pacific | |||||
Goodwill And Intangible Assets [Line Items] | |||||
Goodwill | 648,605 | 648,605 | 689,476 | 613,863 | |
Total | $ 189,829 | 189,829 | $ 175,572 | $ 192,533 | $ 210,465 |
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, 2021 | Dec. 31, 2020 | |
Goodwill [Roll Forward] | ||
Balance, Beginning | $ 5,472,553 | $ 4,781,858 |
Impact of foreign currency exchange | (177,644) | 217,931 |
Balance, Ending | 5,372,071 | 5,472,553 |
xSCale Data Centers | ||
Goodwill [Roll Forward] | ||
Asset sales | (7,306) | |
Packet Host, Inc. | ||
Goodwill [Roll Forward] | ||
Goodwill acquired during the period | 230,620 | |
Bell | ||
Goodwill [Roll Forward] | ||
Goodwill acquired during the period | 170,548 | |
Axtel | ||
Goodwill [Roll Forward] | ||
Goodwill acquired during the period | 78,902 | |
GPX India | ||
Goodwill [Roll Forward] | ||
Goodwill acquired during the period | 77,162 | |
Americas | ||
Goodwill [Roll Forward] | ||
Balance, Beginning | 2,212,782 | 1,741,689 |
Impact of foreign currency exchange | (2,773) | (8,977) |
Balance, Ending | 2,210,009 | 2,212,782 |
Americas | xSCale Data Centers | ||
Goodwill [Roll Forward] | ||
Asset sales | 0 | |
Americas | Packet Host, Inc. | ||
Goodwill [Roll Forward] | ||
Goodwill acquired during the period | 230,620 | |
Americas | Bell | ||
Goodwill [Roll Forward] | ||
Goodwill acquired during the period | 170,548 | |
Americas | Axtel | ||
Goodwill [Roll Forward] | ||
Goodwill acquired during the period | 78,902 | |
Americas | GPX India | ||
Goodwill [Roll Forward] | ||
Goodwill acquired during the period | 0 | |
EMEA | ||
Goodwill [Roll Forward] | ||
Balance, Beginning | 2,611,166 | 2,426,306 |
Impact of foreign currency exchange | (138,580) | 184,860 |
Balance, Ending | 2,472,586 | 2,611,166 |
EMEA | xSCale Data Centers | ||
Goodwill [Roll Forward] | ||
Asset sales | 0 | |
EMEA | Packet Host, Inc. | ||
Goodwill [Roll Forward] | ||
Goodwill acquired during the period | 0 | |
EMEA | Bell | ||
Goodwill [Roll Forward] | ||
Goodwill acquired during the period | 0 | |
EMEA | Axtel | ||
Goodwill [Roll Forward] | ||
Goodwill acquired during the period | 0 | |
EMEA | GPX India | ||
Goodwill [Roll Forward] | ||
Goodwill acquired during the period | 0 | |
Asia-Pacific | ||
Goodwill [Roll Forward] | ||
Balance, Beginning | 648,605 | 613,863 |
Impact of foreign currency exchange | (36,291) | 42,048 |
Balance, Ending | 689,476 | 648,605 |
Asia-Pacific | xSCale Data Centers | ||
Goodwill [Roll Forward] | ||
Asset sales | (7,306) | |
Asia-Pacific | Packet Host, Inc. | ||
Goodwill [Roll Forward] | ||
Goodwill acquired during the period | 0 | |
Asia-Pacific | Bell | ||
Goodwill [Roll Forward] | ||
Goodwill acquired during the period | 0 | |
Asia-Pacific | Axtel | ||
Goodwill [Roll Forward] | ||
Goodwill acquired during the period | $ 0 | |
Asia-Pacific | GPX India | ||
Goodwill [Roll Forward] | ||
Goodwill acquired during the period | $ 77,162 |
Balance Sheet Components - Net
Balance Sheet Components - Net Book Value of Intangible Assets by Geographic Regions (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Finite-lived Intangible Assets [Roll Forward] | |||
Intangible assets, net beginning balance | $ 2,170,945 | $ 2,102,389 | $ 2,333,296 |
ASC 842 adoption adjustment | (23,205) | ||
Intangible assets acquired during period | 1,568 | ||
Other asset acquisition | 64,905 | ||
Amortization of intangibles | (205,484) | (199,047) | (196,278) |
Impact of foreign currency exchange | (45,666) | 45,817 | (9,469) |
Intangible assets, net ending balance | 1,935,267 | 2,170,945 | 2,102,389 |
NY12 Data Center | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Asset sales - NY12 data center | (8,412) | ||
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 | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Intangible assets acquired during period | 75,631 | ||
GPX India | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Intangible assets acquired during period | 15,472 | ||
Americas | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Intangible assets, net beginning balance | 1,463,089 | 1,443,292 | 1,578,971 |
ASC 842 adoption adjustment | (108) | ||
Intangible assets acquired during period | 0 | ||
Other asset acquisition | 0 | ||
Amortization of intangibles | (133,289) | (133,608) | (125,390) |
Impact of foreign currency exchange | (2,047) | (3,476) | (1,769) |
Intangible assets, net ending balance | 1,327,753 | 1,463,089 | 1,443,292 |
Americas | NY12 Data Center | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Asset sales - NY12 data center | (8,412) | ||
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 | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Intangible assets acquired during period | 75,631 | ||
Americas | GPX India | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Intangible assets acquired during period | 0 | ||
EMEA | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Intangible assets, net beginning balance | 518,027 | 466,564 | 543,860 |
ASC 842 adoption adjustment | (20,692) | ||
Intangible assets acquired during period | 1,096 | ||
Other asset acquisition | 64,905 | ||
Amortization of intangibles | (55,807) | (49,417) | (54,432) |
Impact of foreign currency exchange | (30,278) | 35,975 | (8,157) |
Intangible assets, net ending balance | 431,942 | 518,027 | 466,564 |
EMEA | NY12 Data Center | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Asset sales - NY12 data center | 0 | ||
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 | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Intangible assets acquired during period | 0 | ||
EMEA | GPX India | |||
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 | 189,829 | 192,533 | 210,465 |
ASC 842 adoption adjustment | (2,405) | ||
Intangible assets acquired during period | 472 | ||
Other asset acquisition | 0 | ||
Amortization of intangibles | (16,388) | (16,022) | (16,456) |
Impact of foreign currency exchange | (13,341) | 13,318 | 457 |
Intangible assets, net ending balance | 175,572 | 189,829 | 192,533 |
Asia-Pacific | NY12 Data Center | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Asset sales - NY12 data center | 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 | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Intangible assets acquired during period | $ 0 | ||
Asia-Pacific | GPX India | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Intangible assets acquired during period | $ 15,472 |
Balance Sheet Components - Esti
Balance Sheet Components - Estimated Future Amortization Expense Related to Intangibles (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
2022 | $ 196,744 | |||
2023 | 195,030 | |||
2024 | 193,722 | |||
2025 | 191,158 | |||
2026 | 190,802 | |||
Thereafter | 967,811 | |||
Total | $ 1,935,267 | $ 2,170,945 | $ 2,102,389 | $ 2,333,296 |
Balance Sheet Components - Ot_2
Balance Sheet Components - Other Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Deferred tax assets, net | $ 59,816 | $ 66,424 | |
Prepaid expenses | 87,758 | 82,443 | |
Debt issuance costs, net | 2,130 | 4,261 | |
Deposits | 70,548 | 69,043 | |
Restricted cash | 908 | 9,691 | |
Derivative instruments | 59,917 | 2,793 | |
Contract assets, non-current | 55,486 | 54,050 | $ 31,521 |
Contract costs | 325,510 | 267,978 | |
Equity method investments | 245,049 | 163,071 | |
Other assets | 18,944 | 56,293 | |
Total other assets | 926,066 | 776,047 | |
Capitalized CCA implementation costs | $ 46,000 | 21,100 | |
Metronode | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Indemnification assets | $ 42,800 |
Balance Sheet Components - Ac_2
Balance Sheet Components - Accounts Payable and Accrued Expenses (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Payables and Accruals [Abstract] | ||
Accounts payable | $ 84,084 | $ 77,705 |
Accrued compensation and benefits | 364,783 | 317,117 |
Accrued interest | 81,893 | 79,437 |
Accrued taxes | 117,061 | 153,804 |
Accrued utilities and security | 94,251 | 76,910 |
Accrued other | 137,072 | 139,889 |
Total accounts payable and accrued expenses | 879,144 | 844,862 |
Income taxes payable | $ 51,300 | $ 59,800 |
Balance Sheet Components - Ot_3
Balance Sheet Components - Other Current Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Other Liabilities Disclosure [Abstract] | |||
Deferred revenue, current | $ 109,736 | $ 101,258 | $ 76,193 |
Customer deposits | 16,380 | 17,115 | |
Derivative instruments | 13,373 | 188,726 | |
Dividends payable, current | 12,027 | 10,873 | |
Asset retirement obligations | 8,756 | 3,993 | |
Other current liabilities | 54,247 | 32,403 | |
Total other current liabilities | $ 214,519 | $ 354,368 |
Balance Sheet Components - Ot_4
Balance Sheet Components - Other Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Other Liabilities Disclosure [Abstract] | |||
Asset retirement obligations | $ 108,800 | $ 109,776 | |
Deferred tax liabilities, net | 340,287 | 290,366 | |
Deferred revenue, non-current | 87,495 | 71,242 | $ 46,555 |
Accrued taxes | 124,032 | 178,371 | |
Dividends payable, non-current | 9,750 | 7,947 | |
Customer deposits | 1,534 | 1,088 | |
Derivative instruments | 20,899 | 211,733 | |
Other liabilities | 70,614 | 78,476 | |
Total other liabilities | $ 763,411 | $ 948,999 |
Balance Sheet Components - Summ
Balance Sheet Components - Summary of Asset Retirement Obligation Liability (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset retirement obligations, beginning balance | $ 113,769 | $ 102,415 | $ 96,663 |
Additions | 7,483 | 5,909 | 6,980 |
Adjustments | (6,591) | (4,241) | (7,969) |
Accretion expense | 6,518 | 6,331 | 6,290 |
Impact of foreign currency exchange | (3,623) | 3,355 | 451 |
Asset retirement obligations, ending balance | $ 117,556 | $ 113,769 | $ 102,415 |
Derivatives and Hedging Instr_3
Derivatives and Hedging Instruments - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Derivative [Line Items] | ||
Net gain (loss) to be reclassified within the next 12 months, Foreign Currency Cash Flow Hedge | $ 13,300,000 | $ (35,400,000) |
Cross-currency interest rate swaps | Designated as hedging instruments | ||
Derivative [Line Items] | ||
Derivative notional amount | 4,000,000,000 | 3,300,000,000 |
Foreign currency forward contracts | Not designated as hedging instruments | ||
Derivative [Line Items] | ||
Derivative notional amount | 3,300,000,000 | 3,400,000,000 |
Net Investment Hedging | Foreign currency debt | Designated as hedging instruments | ||
Derivative [Line Items] | ||
Derivative notional amount | 1,500,000,000 | 1,900,000,000 |
Net Investment Hedging | Foreign currency forward contracts | Designated as hedging instruments | ||
Derivative [Line Items] | ||
Derivative notional amount | 375,700,000 | 355,600,000 |
Cash flow hedge instruments | Foreign currency forward and option contracts | ||
Derivative [Line Items] | ||
Derivative notional amount | 831,200,000 | 912,900,000 |
Cash flow hedge instruments | Interest rate locks | ||
Derivative [Line Items] | ||
Derivative notional amount | 800,000,000 | 0 |
Derivative, notional aggregate amount settled | 1,300,000,000 | |
Net loss to be reclassified within the next 12 months, Interest Rate Cash Flow Hedge | $ 3,900,000 | $ 4,100,000 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Amount of gain or (loss) recognized in accumulated other comprehensive income: | |||
Total | $ 326,982 | $ (444,554) | $ 73,284 |
Amount of gain or (loss) recognized in earnings: | |||
Amount of gain or (loss) excluded from effectiveness testing included in income | 45,175 | 27,238 | 19,261 |
Foreign currency debt | |||
Amount of gain or (loss) recognized in accumulated other comprehensive income: | |||
Gain (loss) recognized in accumulated other comprehensive income (included component) | 93,945 | (208,281) | 47,033 |
Currency Swap | |||
Amount of gain or (loss) recognized in accumulated other comprehensive income: | |||
Gain (loss) recognized in accumulated other comprehensive income (included component) | 282,935 | (218,843) | 15,514 |
Gain (loss) recognized in accumulated other comprehensive income (excluded component) | (52,517) | (347) | 10,737 |
Foreign currency forward contracts | |||
Amount of gain or (loss) recognized in accumulated other comprehensive income: | |||
Gain (loss) recognized in accumulated other comprehensive income (included component) | 2,621 | (17,115) | 0 |
Gain (loss) recognized in accumulated other comprehensive income (excluded component) | (2) | 32 | 0 |
Interest expense | Currency Swap | |||
Amount of gain or (loss) recognized in earnings: | |||
Amount of gain or (loss) excluded from effectiveness testing included in income | 44,933 | 27,196 | 19,261 |
Interest expense | Foreign currency forward contracts | |||
Amount of gain or (loss) recognized in earnings: | |||
Amount of gain or (loss) excluded from effectiveness testing included in income | $ 242 | $ 42 | $ 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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Amount of gain or (loss) recognized in accumulated other comprehensive income: | $ 77,542 | $ (97,311) | $ (6,780) |
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income: | (22,857) | 16,104 | 38,863 |
Amount of gain or (loss) excluded from effectiveness testing and included in income: | (244) | (1,761) | (994) |
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: | 67,767 | (68,573) | (9,945) |
Foreign currency option contracts | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Gain (loss) recognized in accumulated other comprehensive income (excluded component) | 151 | 1,655 | (1,807) |
Foreign currency option contracts | Sales | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Amount of gain or (loss) excluded from effectiveness testing and included in income: | (244) | (1,761) | (1,082) |
Interest rate locks | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Amount of gain or (loss) recognized in accumulated other comprehensive income: | 9,624 | (30,393) | 4,972 |
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: | (4,056) | (1,204) | 79 |
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: | (39,297) | 37,198 | 80,046 |
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: | 20,496 | (19,890) | (41,262) |
Foreign currency forward contracts | Other income (expense) | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Amount of gain or (loss) excluded from effectiveness testing and included in income: | $ 0 | $ 0 | $ 88 |
Derivatives and Hedging Instr_6
Derivatives and Hedging Instruments - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Derivatives not designated as hedging instruments, gain (loss) | $ 127,062 | $ (128,549) | $ 37,459 |
Embedded derivatives | Revenues | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Derivatives not designated as hedging instruments, gain (loss) | 3,503 | (3,043) | 63 |
Economic hedges of embedded derivatives | Revenues | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Derivatives not designated as hedging instruments, gain (loss) | (5,937) | 2,142 | 550 |
Foreign currency forward contracts | Other income (expense) | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Derivatives not designated as hedging instruments, gain (loss) | $ 129,496 | $ (127,648) | $ 36,846 |
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, 2021 | Dec. 31, 2020 |
Derivative [Line Items] | ||
Derivative assets | $ 177,349 | $ 11,699 |
Derivative liabilities | 34,272 | 400,459 |
Designated as hedging instruments | ||
Derivative [Line Items] | ||
Derivative assets | 88,605 | 351 |
Derivative liabilities | 27,129 | 262,784 |
Designated as hedging instruments | Foreign currency forward and option contracts | ||
Derivative [Line Items] | ||
Derivative assets | 22,866 | 351 |
Derivative liabilities | 7,618 | 52,804 |
Designated as hedging instruments | Interest rate locks | ||
Derivative [Line Items] | ||
Derivative assets | 8,662 | 0 |
Derivative liabilities | 0 | 0 |
Designated as hedging instruments | Cross-currency interest rate swaps | ||
Derivative [Line Items] | ||
Derivative assets | 56,921 | 0 |
Derivative liabilities | 19,441 | 192,939 |
Designated as hedging instruments | Foreign currency forward contracts | ||
Derivative [Line Items] | ||
Derivative assets | 156 | 0 |
Derivative liabilities | 70 | 17,041 |
Not designated as hedging instruments | ||
Derivative [Line Items] | ||
Derivative assets | 88,744 | 11,348 |
Derivative liabilities | 7,143 | 137,675 |
Not designated as hedging instruments | Embedded derivatives | ||
Derivative [Line Items] | ||
Derivative assets | 3,247 | 3,255 |
Derivative liabilities | 652 | 3,858 |
Not designated as hedging instruments | Economic hedges of embedded derivatives | ||
Derivative [Line Items] | ||
Derivative assets | 2,232 | 4,372 |
Derivative liabilities | 637 | 12 |
Not designated as hedging instruments | Foreign currency forward contracts | ||
Derivative [Line Items] | ||
Derivative assets | 83,265 | 3,721 |
Derivative liabilities | $ 5,854 | $ 133,805 |
Derivatives and Hedging Instr_8
Derivatives and Hedging Instruments - Offsetting Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Derivative assets | ||
Gross Amounts | $ 207,037 | $ 38,447 |
Gross Amounts Offset in the Balance Sheet | 0 | 0 |
Net Amounts | 207,037 | 38,447 |
Gross Amounts not Offset in the Balance Sheet | (47,538) | (35,100) |
Net | 159,499 | 3,347 |
Derivative liabilities | ||
Gross Amounts | 49,326 | 415,628 |
Gross Amounts Offset in the Balance Sheet | 0 | 0 |
Net Amounts | 49,326 | 415,628 |
Gross Amounts not Offset in the Balance Sheet | (47,538) | (35,100) |
Net | $ 1,788 | $ 380,528 |
Fair Value Measurements - Finan
Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Assets: | ||
Publicly traded equity securities | $ 0 | $ 159 |
Derivative instruments | 207,037 | 38,447 |
Liabilities: | ||
Derivative instruments | 49,326 | 415,628 |
Fair value, measurements, recurring | ||
Assets: | ||
Publicly traded equity securities | 159 | |
Derivative instruments | 177,349 | 11,699 |
Assets | 763,030 | 627,302 |
Liabilities: | ||
Derivative instruments | 34,272 | 400,459 |
Fair value, measurements, recurring | Money market and deposit accounts | ||
Assets: | ||
Investments | 585,681 | 611,071 |
Fair value, measurements, recurring | Certificates of deposit | ||
Assets: | ||
Investments | 4,373 | |
Fair value, measurements, recurring | Fair value, Inputs, Level 1 | ||
Assets: | ||
Publicly traded equity securities | 159 | |
Derivative instruments | 0 | 0 |
Assets | 585,681 | 611,230 |
Liabilities: | ||
Derivative instruments | 0 | 0 |
Fair value, measurements, recurring | Fair value, Inputs, Level 1 | Money market and deposit accounts | ||
Assets: | ||
Investments | 585,681 | 611,071 |
Fair value, measurements, recurring | Fair value, Inputs, Level 1 | Certificates of deposit | ||
Assets: | ||
Investments | 0 | |
Fair value, measurements, recurring | Fair value, Inputs, Level 2 | ||
Assets: | ||
Publicly traded equity securities | 0 | |
Derivative instruments | 177,349 | 11,699 |
Assets | 177,349 | 16,072 |
Liabilities: | ||
Derivative instruments | 34,272 | 400,459 |
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 |
Leases - Significant Lease Tran
Leases - Significant Lease Transactions (Detail) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2021USD ($)option | Dec. 31, 2021USD ($) | Jun. 30, 2021USD ($) | Dec. 31, 2020USD ($) | |
Lessee, Lease, Description [Line Items] | ||||
Finance lease assets | $ 1,875,696 | $ 1,688,032 | ||
Finance lease liability | 2,137,509 | |||
Operating lease right-of-use assets | 1,282,418 | $ 1,475,057 | ||
Operating lease liability | $ 1,251,209 | |||
Silicon Valley 8 ("SV8") data center lease extended | ||||
Lessee, Lease, Description [Line Items] | ||||
Finance lease assets | $ 98,141 | |||
Finance lease liability | 100,043 | |||
Operating lease right-of-use assets | (13,685) | |||
Operating lease liability | $ (15,586) | |||
Operating and finance lease term (in years) | 16 years | |||
Operating and finance lease renewal term (in years) | 10 years | |||
Number of renewal options | option | 2 | |||
Hong Kong 3 ("HK3") data center lease extended | ||||
Lessee, Lease, Description [Line Items] | ||||
Operating and finance lease term (in years) | 10 years | |||
Operating and finance lease renewal term (in years) | 5 years | |||
Hong Kong 3 ("HK3") data center lease extended | Buildings | ||||
Lessee, Lease, Description [Line Items] | ||||
Finance lease assets | $ 37,987 | |||
Finance lease liability | 37,987 | |||
Hong Kong 3 ("HK3") data center lease extended | Land | ||||
Lessee, Lease, Description [Line Items] | ||||
Operating lease right-of-use assets | 6,592 | |||
Operating lease liability | $ 6,592 | |||
Osaka 3 ("OS3") new data center and office lease | ||||
Lessee, Lease, Description [Line Items] | ||||
Finance lease assets | $ 144,122 | |||
Finance lease liability | $ 144,122 | |||
Finance lease term (in years) | 15 years | |||
Finance lease renewal term | 2 years |
Leases - Lease Expenses (Detail
Leases - Lease Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Finance lease cost | ||
Amortization of ROU assets | $ 157,057 | $ 120,169 |
Interest on lease liabilities | 117,896 | 113,699 |
Total finance lease cost | 274,953 | 233,868 |
Operating lease cost | 221,776 | 217,299 |
Variable lease cost | 33,066 | 13,588 |
Total lease cost | $ 529,795 | $ 464,755 |
Leases - Other Information (Det
Leases - Other Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash paid for amounts included in the measurement of lease liabilities: | |||
Operating cash flows from finance leases | $ 113,571 | $ 109,558 | |
Operating cash flows from operating leases | 258,719 | 206,512 | |
Financing cash flows from finance leases | 165,539 | 115,288 | $ 126,486 |
Right-of-use assets obtained in exchange for lease obligations | |||
Finance leases | 412,214 | 487,592 | |
Operating leases | $ 10,446 | $ 108,797 | |
Weighted-average remaining lease term - finance leases | 14 years | 14 years | |
Weighted-average remaining lease term - operating leases | 12 years | 12 years | |
Weighted-average discount rate - finance leases | 7.00% | 7.00% | |
Weighted-average discount rate - operating leases | 4.00% | 4.00% | |
Finance lease assets | $ 1,875,696 | $ 1,688,032 | |
Accumulated amortization, finance lease, right-of-use asset | $ 726,400 | $ 604,100 | |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Property, plant and equipment | Property, plant and equipment |
Leases - Maturities of Lease Li
Leases - Maturities of Lease Liabilities (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Operating Leases | |
2022 | $ 181,810 |
2023 | 181,480 |
2024 | 165,689 |
2025 | 155,642 |
2026 | 145,578 |
Thereafter | 847,168 |
Total lease payments | 1,677,367 |
Less imputed interest | (426,158) |
Total | 1,251,209 |
Finance Leases | |
2022 | 252,670 |
2023 | 239,268 |
2024 | 240,696 |
2025 | 237,107 |
2026 | 227,262 |
Thereafter | 1,979,654 |
Total lease payments | 3,176,657 |
Less imputed interest | (1,039,148) |
Total | 2,137,509 |
Total | |
2022 | 434,480 |
2023 | 420,748 |
2024 | 406,385 |
2025 | 392,749 |
2026 | 372,840 |
Thereafter | 2,826,822 |
Total lease payments | 4,854,024 |
Less imputed interest | (1,465,306) |
Total | 3,388,718 |
Lessee, Lease, Description [Line Items] | |
Operating and finance leases not yet commenced, liability | $ 915,600 |
Minimum | |
Lessee, Lease, Description [Line Items] | |
Lease not yet commenced, term | 3 years |
Maximum | |
Lessee, Lease, Description [Line Items] | |
Lease not yet commenced, term | 27 years |
Debt Facilities - Mortgage and
Debt Facilities - Mortgage and Loans Payable (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Long term debt, gross | $ 618,388 | $ 1,370,970 |
Less amount representing unamortized debt discount and debt issuance cost | (354) | (3,288) |
Loans payable current and non current | 619,664 | 1,369,543 |
Less current portion | (33,087) | (82,289) |
Loans payable, noncurrent | 586,577 | 1,287,254 |
Term loans | ||
Debt Instrument [Line Items] | ||
Long term debt, gross | 549,697 | 1,292,067 |
Mortgage payable and other loans payable | ||
Debt Instrument [Line Items] | ||
Long term debt, gross | 68,691 | 78,903 |
Mortgage | ||
Debt Instrument [Line Items] | ||
Add amount representing unamortized mortgage premium | $ 1,630 | $ 1,861 |
Debt Facilities - Narrative (De
Debt Facilities - Narrative (Details) | Jun. 02, 2021USD ($) | May 17, 2021USD ($) | Mar. 24, 2021USD ($) | Mar. 31, 2021USD ($) | Dec. 31, 2021USD ($)credit | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | May 15, 2021USD ($) | Mar. 15, 2021USD ($) | Mar. 10, 2021USD ($) | Mar. 10, 2021EUR (€) | Dec. 31, 2017USD ($) | Oct. 31, 2013USD ($) |
Debt Instrument [Line Items] | |||||||||||||
Amount outstanding under the Term Loan Facility, net | $ 11,722,148,000 | ||||||||||||
Loss on debt extinguishment | 115,125,000 | $ 145,804,000 | $ 52,825,000 | ||||||||||
Amount of debt discounts and debt issuance costs | 354,000 | 3,288,000 | |||||||||||
Interest paid, net of capitalized interest | 401,900,000 | 471,700,000 | 521,600,000 | ||||||||||
Line of Credit | 2017 Senior Credit Facility | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Maximum borrowing capacity | $ 3,000,000,000 | ||||||||||||
Mortgage | Frankfurt Kleyer 90 Carrier Hotel | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Loans payable | $ 42,900,000 | ||||||||||||
Effective interest rate | 4.25% | ||||||||||||
Mortgage | Toronto 2 Data Center | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Loans payable | $ 43,800,000 | ||||||||||||
Effective interest rate | 3.63% | ||||||||||||
Senior Notes | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Amount outstanding under the Term Loan Facility, net | $ 10,984,144,000 | $ 9,168,463,000 | |||||||||||
Senior Notes | 1.250% Senior Notes due 2025 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Effective interest rate | 1.46% | 1.46% | |||||||||||
Interest rate (percent) | 1.25% | ||||||||||||
Senior Notes | 1.800% Senior Notes due 2027 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Effective interest rate | 1.96% | 1.96% | |||||||||||
Interest rate (percent) | 1.80% | ||||||||||||
Senior Notes | 2.150% Senior Notes due 2030 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Effective interest rate | 2.27% | 2.27% | |||||||||||
Interest rate (percent) | 2.15% | ||||||||||||
Senior Notes | 3.000% Senior Notes due 2050 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Effective interest rate | 3.09% | 3.09% | |||||||||||
Interest rate (percent) | 3.00% | ||||||||||||
Senior Notes | 0.250% Euro Senior Notes due 2027 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Aggregate principal debt amount issued | $ 594,900,000 | € 500,000,000 | |||||||||||
Effective interest rate | 0.45% | 0.00% | |||||||||||
Interest rate (percent) | 0.25% | 0.25% | 0.25% | ||||||||||
Amount of debt discounts and debt issuance costs | $ 7,000,000 | ||||||||||||
Senior Notes | 1.000% Euro Senior Notes due 2033 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Aggregate principal debt amount issued | $ 713,800,000 | € 600,000,000 | |||||||||||
Effective interest rate | 1.18% | 0.00% | |||||||||||
Interest rate (percent) | 1.00% | 1.00% | 1.00% | ||||||||||
Amount of debt discounts and debt issuance costs | $ 14,100,000 | ||||||||||||
Senior Notes | 2.875% Euro Senior Notes due 2026 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Redemption of senior debt | $ 590,700,000 | ||||||||||||
Effective interest rate | 0.00% | 3.04% | |||||||||||
Interest rate (percent) | 2.875% | 2.875% | |||||||||||
Loss on debt extinguishment | $ 13,200,000 | ||||||||||||
Redemption premium | 8,500,000 | ||||||||||||
Write off of unamortized debt issuance | $ 4,700,000 | ||||||||||||
Senior Notes | 1.450% Senior Notes due 2026 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Aggregate principal debt amount issued | $ 700,000,000 | ||||||||||||
Effective interest rate | 1.64% | 0.00% | |||||||||||
Interest rate (percent) | 1.45% | 1.45% | |||||||||||
Amount of debt discounts and debt issuance costs | $ 6,400,000 | ||||||||||||
Senior Notes | 2.000% Senior Notes due 2028 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Aggregate principal debt amount issued | $ 400,000,000 | ||||||||||||
Effective interest rate | 2.21% | 0.00% | |||||||||||
Interest rate (percent) | 2.00% | 2.00% | |||||||||||
Amount of debt discounts and debt issuance costs | 5,300,000 | ||||||||||||
Senior Notes | 2.500% Senior Notes due 2031 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Aggregate principal debt amount issued | $ 1,000,000,000 | ||||||||||||
Effective interest rate | 2.65% | 0.00% | |||||||||||
Interest rate (percent) | 2.50% | 2.50% | |||||||||||
Amount of debt discounts and debt issuance costs | 13,000,000 | ||||||||||||
Senior Notes | 3.400% Senior Notes due 2052 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Aggregate principal debt amount issued | $ 500,000,000 | ||||||||||||
Effective interest rate | 3.50% | 0.00% | |||||||||||
Interest rate (percent) | 3.40% | 3.40% | |||||||||||
Amount of debt discounts and debt issuance costs | $ 9,300,000 | ||||||||||||
Senior Notes | 5.375% Senior Notes due 2027 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Effective interest rate | 0.00% | 5.51% | |||||||||||
Interest rate (percent) | 5.375% | 5.375% | |||||||||||
Loss on debt extinguishment | $ 100,600,000 | ||||||||||||
Redemption premium | 90,700,000 | ||||||||||||
Write off of unamortized debt issuance | $ 9,900,000 | ||||||||||||
Revolving Credit Facility | Line of Credit | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Amount available to borrow | $ 1,900,000,000 | ||||||||||||
Revolving Credit Facility | Line of Credit | 2017 Senior Credit Facility | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Maximum borrowing capacity | 2,000,000,000 | ||||||||||||
Term loans | JPY Term Loan | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Redemption of senior debt | $ 374,500,000 | ||||||||||||
Term loans | SEK Term Loan | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Redemption of senior debt | $ 285,400,000 | ||||||||||||
Term loans | Line of Credit | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Amount outstanding under the Term Loan Facility, net | $ 549,300,000 | $ 1,300,000,000 | |||||||||||
Term loans | Line of Credit | 2017 Senior Credit Facility | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Maximum borrowing capacity | 1,000,000,000 | ||||||||||||
Term loans | Line of Credit | JPY Term Loan | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Aggregate principal debt amount issued | $ 424,700,000 | ||||||||||||
Letter of Credit | Line of Credit | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Numbers of letters of credit outstanding | credit | 41 | ||||||||||||
Letters of credit outstanding, amount | $ 90,200,000 |
Debt Facilities - Senior Notes
Debt Facilities - Senior Notes (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Jun. 02, 2021 | May 17, 2021 | Mar. 24, 2021 | Mar. 10, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 618,388 | $ 1,370,970 | ||||
Total long term debt | 11,722,148 | |||||
Senior Notes | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | 11,102,130 | 9,261,050 | ||||
Less amount representing unamortized debt discount and debt issuance cost | (117,986) | (92,773) | ||||
Add amount representing unamortized debt premium | 0 | 186 | ||||
Total long term debt | 10,984,144 | 9,168,463 | ||||
Less current portion | 0 | (150,186) | ||||
Total | 10,984,144 | 9,018,277 | ||||
Senior Notes | 5.000% Infomart Senior Notes | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 0 | $ 150,000 | ||||
Effective interest rate | 0.00% | 4.51% | ||||
Interest rate (percent) | 5.00% | |||||
Senior Notes | 2.625% Senior Notes due 2024 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 1,000,000 | $ 1,000,000 | ||||
Effective interest rate | 2.79% | 2.79% | ||||
Interest rate (percent) | 2.625% | |||||
Senior Notes | 1.250% Senior Notes due 2025 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 500,000 | $ 500,000 | ||||
Effective interest rate | 1.46% | 1.46% | ||||
Interest rate (percent) | 1.25% | |||||
Senior Notes | 1.000% Senior Notes Due 2025 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 700,000 | $ 700,000 | ||||
Effective interest rate | 1.18% | 1.18% | ||||
Interest rate (percent) | 1.00% | |||||
Senior Notes | 2.900% Senior Notes due 2026 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 600,000 | $ 600,000 | ||||
Effective interest rate | 3.04% | 3.04% | ||||
Interest rate (percent) | 2.90% | |||||
Senior Notes | 2.875% Euro Senior Notes due 2026 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 0 | $ 611,050 | ||||
Effective interest rate | 0.00% | 3.04% | ||||
Interest rate (percent) | 2.875% | 2.875% | ||||
Senior Notes | 1.450% Senior Notes due 2026 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 700,000 | $ 0 | ||||
Effective interest rate | 1.64% | 0.00% | ||||
Interest rate (percent) | 1.45% | 1.45% | ||||
Senior Notes | 0.250% Euro Senior Notes due 2027 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 569,150 | $ 0 | ||||
Effective interest rate | 0.45% | 0.00% | ||||
Interest rate (percent) | 0.25% | 0.25% | ||||
Senior Notes | 1.800% Senior Notes due 2027 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 500,000 | $ 500,000 | ||||
Effective interest rate | 1.96% | 1.96% | ||||
Interest rate (percent) | 1.80% | |||||
Senior Notes | 5.375% Senior Notes due 2027 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 0 | $ 1,250,000 | ||||
Effective interest rate | 0.00% | 5.51% | ||||
Interest rate (percent) | 5.375% | 5.375% | ||||
Senior Notes | 1.550% Senior Notes due 2028 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 650,000 | $ 650,000 | ||||
Effective interest rate | 1.67% | 1.67% | ||||
Interest rate (percent) | 1.55% | |||||
Senior Notes | 2.000% Senior Notes due 2028 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 400,000 | $ 0 | ||||
Effective interest rate | 2.21% | 0.00% | ||||
Interest rate (percent) | 2.00% | 2.00% | ||||
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 | 3.30% | 3.30% | ||||
Interest rate (percent) | 3.20% | |||||
Senior Notes | 2.150% Senior Notes due 2030 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 1,100,000 | $ 1,100,000 | ||||
Effective interest rate | 2.27% | 2.27% | ||||
Interest rate (percent) | 2.15% | |||||
Senior Notes | 2.500% Senior Notes due 2031 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 1,000,000 | $ 0 | ||||
Effective interest rate | 2.65% | 0.00% | ||||
Interest rate (percent) | 2.50% | 2.50% | ||||
Senior Notes | 1.000% Euro Senior Notes due 2033 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 682,980 | $ 0 | ||||
Effective interest rate | 1.18% | 0.00% | ||||
Interest rate (percent) | 1.00% | 1.00% | ||||
Senior Notes | 3.000% Senior Notes due 2050 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 500,000 | $ 500,000 | ||||
Effective interest rate | 3.09% | 3.09% | ||||
Interest rate (percent) | 3.00% | |||||
Senior Notes | 2.950% Senior Notes due 2051 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 500,000 | $ 500,000 | ||||
Effective interest rate | 3.00% | 3.00% | ||||
Interest rate (percent) | 2.95% | |||||
Senior Notes | 3.400% Senior Notes due 2052 | ||||||
Debt Instrument [Line Items] | ||||||
Long term debt, gross | $ 500,000 | |||||
Effective interest rate | 3.50% | 0.00% | ||||
Interest rate (percent) | 3.40% | 3.40% |
Debt Facilities - Optional Rede
Debt Facilities - Optional Redemption Schedule (Details) - Senior Notes | 12 Months Ended | ||
Dec. 31, 2021 | May 17, 2021 | Mar. 10, 2021 | |
Debt Instrument, Redemption [Line Items] | |||
Redemption price, percentage | 100.00% | ||
2.625% Senior Notes due 2024 | |||
Debt Instrument, Redemption [Line Items] | |||
Interest rate (percent) | 2.625% | ||
1.000% Senior Notes Due 2025 | |||
Debt Instrument, Redemption [Line Items] | |||
Interest rate (percent) | 1.00% | ||
1.250% Senior Notes due 2025 | |||
Debt Instrument, Redemption [Line Items] | |||
Interest rate (percent) | 1.25% | ||
2.900% Senior Notes due 2026 | |||
Debt Instrument, Redemption [Line Items] | |||
Interest rate (percent) | 2.90% | ||
1.800% Senior Notes due 2027 | |||
Debt Instrument, Redemption [Line Items] | |||
Interest rate (percent) | 1.80% | ||
1.550% Senior Notes due 2028 | |||
Debt Instrument, Redemption [Line Items] | |||
Interest rate (percent) | 1.55% | ||
3.200% Senior Notes due 2029 | |||
Debt Instrument, Redemption [Line Items] | |||
Interest rate (percent) | 3.20% | ||
2.150% Senior Notes due 2030 | |||
Debt Instrument, Redemption [Line Items] | |||
Interest rate (percent) | 2.15% | ||
3.000% Senior Notes due 2050 | |||
Debt Instrument, Redemption [Line Items] | |||
Interest rate (percent) | 3.00% | ||
2.950% Senior Notes due 2051 | |||
Debt Instrument, Redemption [Line Items] | |||
Interest rate (percent) | 2.95% | ||
0.250% Euro Senior Notes due 2027 | |||
Debt Instrument, Redemption [Line Items] | |||
Interest rate (percent) | 0.25% | 0.25% | |
1.000% Euro Senior Notes due 2033 | |||
Debt Instrument, Redemption [Line Items] | |||
Interest rate (percent) | 1.00% | 1.00% | |
1.450% Senior Notes due 2026 | |||
Debt Instrument, Redemption [Line Items] | |||
Interest rate (percent) | 1.45% | 1.45% | |
2.000% Senior Notes due 2028 | |||
Debt Instrument, Redemption [Line Items] | |||
Interest rate (percent) | 2.00% | 2.00% | |
2.500% Senior Notes due 2031 | |||
Debt Instrument, Redemption [Line Items] | |||
Interest rate (percent) | 2.50% | 2.50% | |
3.400% Senior Notes due 2052 | |||
Debt Instrument, Redemption [Line Items] | |||
Interest rate (percent) | 3.40% | 3.40% |
Debt Facilities - Summary of Ma
Debt Facilities - Summary of Maturities of Debt Instruments (Detail) $ in Thousands | Dec. 31, 2021USD ($) |
Long-term Debt, Fiscal Year Maturity [Abstract] | |
2022 | $ 582,783 |
2023 | 6,664 |
2024 | 1,006,230 |
2025 | 1,204,640 |
2026 | 1,304,770 |
Thereafter | 7,617,061 |
Total long term debt | $ 11,722,148 |
Debt Facilities - Fair Value of
Debt Facilities - Fair Value of Debt Instruments (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Disclosure [Abstract] | ||
Mortgage and loans payable | $ 621,051 | $ 1,379,129 |
Senior notes | $ 11,049,834 | $ 9,705,486 |
Debt Facilities - Interest Char
Debt Facilities - Interest Charges (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |||
Interest expense | $ 336,082 | $ 406,466 | $ 479,684 |
Interest capitalized | 24,505 | 26,750 | 32,173 |
Interest charges incurred | $ 360,587 | $ 433,216 | $ 511,857 |
Stockholders' Equity - Narrativ
Stockholders' Equity - Narrative (Details) - USD ($) | 1 Months Ended | 12 Months Ended | |||||
May 31, 2020 | Mar. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Oct. 31, 2020 | Dec. 31, 2018 | |
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 | |||||
Short term dividend payable | $ 12,027,000 | $ 10,873,000 | |||||
Long term dividend payable | 9,750,000 | 7,947,000 | |||||
Special Distribution | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Short term dividend payable | 12,000,000 | 10,900,000 | |||||
Long term dividend payable | $ 9,700,000 | $ 7,900,000 | |||||
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] | |||||||
Issuance of common stock in public offering of common stock, shares (in shares) | 637,617 | 0 | |||||
Issuance of common stock in public offering of common stock, net | $ 497,900,000 | ||||||
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 (Details) | Dec. 31, 2021shares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Common shares reserved for issuance (in shares) | 7,968,163 |
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) | 5,327,514 |
Common stock employee purchase plans | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Common shares reserved for issuance (in shares) | 2,640,649 |
Stockholders' Equity - Componen
Stockholders' Equity - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | $ 10,634,118 | $ 8,840,382 | $ 7,219,279 |
Net Change | (172,368) | 21,302 | 11,070 |
Ending balance | 10,881,764 | 10,634,118 | 8,840,382 |
AOCI | |||
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | (913,368) | (934,613) | (945,702) |
Net Change | (172,383) | 21,245 | 11,089 |
Ending balance | (1,085,751) | (913,368) | (934,613) |
Foreign currency translation adjustment ("CTA") gain (loss) | |||
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | (508,415) | (1,056,918) | (998,603) |
Net Change | (559,984) | 548,503 | (58,315) |
Ending balance | (1,068,399) | (508,415) | (1,056,918) |
Unrealized gain (loss) on cash flow hedges | |||
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | (67,152) | 15,638 | 19,480 |
Net Change | 60,562 | (82,790) | (3,842) |
Ending balance | (6,590) | (67,152) | 15,638 |
Net investment hedge CTA gain (loss) | |||
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | (336,934) | 107,619 | 34,325 |
Net Change | 326,982 | (444,553) | 73,294 |
Ending balance | (9,952) | (336,934) | 107,619 |
Net actuarial gain (loss) on defined benefit plans | |||
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward] | |||
Beginning balance | (867) | (952) | (904) |
Net Change | 57 | 85 | (48) |
Ending balance | $ (810) | $ (867) | $ (952) |
Stockholders' Equity - Quarterl
Stockholders' Equity - Quarterly Dividend and Special Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | 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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Equity [Abstract] | |||||||||||||||
Total Distribution (in dollars per share) | $ 2.870000 | $ 2.870000 | $ 2.870000 | $ 2.870000 | $ 2.660000 | $ 2.660000 | $ 2.660000 | $ 2.660000 | $ 2.460000 | $ 2.460000 | $ 2.460000 | $ 2.460000 | $ 11.480000 | $ 10.640000 | $ 9.840000 |
Nonqualified Ordinary Dividend (in dollars per share) | $ 2.870000 | $ 2.870000 | $ 2.870000 | $ 2.870000 | $ 2.660000 | $ 2.660000 | $ 2.660000 | $ 2.660000 | $ 2.460000 | $ 2.460000 | $ 2.460000 | $ 2.460000 | $ 11.480000 | $ 10.640000 | $ 9.840000 |
Total Distribution Amount | $ 258,716 | $ 257,769 | $ 257,199 | $ 256,321 | $ 237,010 | $ 236,424 | $ 235,449 | $ 227,386 | $ 209,785 | $ 209,226 | $ 207,949 | $ 198,933 | $ 1,030,005 | $ 936,269 | $ 825,893 |
Stock-Based Compensation - Narr
Stock-Based Compensation - Narrative (Details) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021USD ($)periodshares | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Apr. 23, 2020shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Capitalized stock-based compensation expense | $ 27.7 | $ 20.3 | $ 9.1 | |
Share-based compensation expense not yet recognized | $ 629.4 | |||
Expected recognized period (in years) | 2 years 1 month 6 days | |||
2000 Equity Incentive Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 4 years | |||
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% | |||
2004 Purchase Plan | ||||
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 | 2,640,649 | |||
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 | 3,969,920 | 4,000,000 | ||
Nonstatutory stock options, RSAs, RSUs and stock appreciation rights | 2000 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 | 2000 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 | $ 472.9 | $ 417 | $ 269.1 |
Stock-Based Compensation - Shar
Stock-Based Compensation - Shares Reserved (Details) - shares | Dec. 31, 2021 | 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) | 2,640,649 | |
2020 Equity Incentive Plan | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares in reserve (in shares) | 4,660,322 | |
Number of shares available for grant (in shares) | 3,969,920 | 4,000,000 |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Restricted Stock Unit Activity (Details) - RSUs - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
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) | 1,337,634 | 1,312,725 | 1,226,787 |
Restricted stock units granted (in shares) | 776,628 | 695,383 | 779,478 |
Restricted stock units released, vested (in shares) | (633,466) | (606,250) | (549,259) |
Special distribution shares released (in shares) | (34) | (722) | (1,781) |
Restricted stock units canceled (in shares) | (123,168) | (63,502) | (142,477) |
Special distribution shares canceled (in shares) | (23) | ||
Restricted stock units outstanding, ending balance (in shares) | 1,357,594 | 1,337,634 | 1,312,725 |
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) | $ 499.60 | $ 411.99 | $ 361.22 |
Restricted stock units granted, weighted-average grant date fair value (in dollars per share) | 679.59 | 596.80 | 448.16 |
Restricted stock units released, vested, weighted-average grant date fair value (in dollars per share) | 505.40 | 426.03 | 362.66 |
Special distribution shares released, weighted-average grant date fair value (in dollars per share) | 297.03 | 264.57 | 295.31 |
Restricted stock units canceled, weighted-average grant date fair value (in dollars per share) | 561.34 | 457.91 | 364.42 |
Special distribution shares canceled, weighted-average grant date fair value (in dollars per share) | 297.04 | ||
Restricted stock units outstanding, weighted-average grant date fair value, ending balance (in dollars per share) | $ 594.27 | $ 499.60 | $ 411.99 |
Restricted stock units outstanding, weighted-average remaining contractual life (years) | 1 year 2 months 23 days | ||
Restricted stock units outstanding, aggregate intrinsic value | $ 1,148,307 |
Stock-Based Compensation - Disc
Stock-Based Compensation - Disclosures for 2004 Purchase Plan (Details) - 2004 Purchase Plan - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted-average purchase price per share (in dollars per share) | $ 467.59 | $ 371.71 | $ 354.72 |
Weighted-average grant date fair value per share (in dollars per share) | $ 138.80 | $ 114.08 | $ 104.84 |
Number of shares purchased (in shares) | 166,023 | 167,113 | 146,640 |
Stock-Based Compensation - Assu
Stock-Based Compensation - Assumptions in Computation of Fair Value (Details) - 2004 Purchase Plan | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Range of risk-free interest rate, minimum | 0.01% | 0.10% | 1.55% |
Range of risk-free interest rate, maximum | 0.21% | 1.55% | 2.58% |
Range of expected volatility, minimum | 25.54% | 19.28% | 19.27% |
Range of expected volatility, maximum | 41.24% | 51.93% | 25.55% |
Weighted-average expected volatility | 34.08% | 32.94% | 22.95% |
Weighted average expected life (in years) | 1 year 2 months 4 days | 1 year 4 months 9 days | 1 year 2 months 26 days |
Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Range of dividend yield | 1.58% | 1.94% | 2.07% |
Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Range of dividend yield | 1.77% | 2.08% | 2.09% |
Stock-Based Compensation - Stoc
Stock-Based Compensation - Stock-Based Compensation Expense Recognized in Company's Consolidated Statement of Operations (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |||
May 31, 2020 | Mar. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||||
Stock-based compensation expense | $ 363,774 | $ 311,020 | $ 236,539 | ||
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 | 330,077 | 289,426 | 217,541 | ||
RSAs | |||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||||
Stock-based compensation expense | 10,067 | $ 8,289 | 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 | 23,630 | $ 13,305 | 18,998 | ||
Cost of revenues | |||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||||
Stock-based compensation expense | 38,438 | 32,893 | 25,355 | ||
Sales and marketing | |||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||||
Stock-based compensation expense | 79,144 | 72,895 | 56,719 | ||
General and administrative | |||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||||
Stock-based compensation expense | $ 246,192 | $ 205,232 | $ 154,465 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Domestic | $ 137,492 | $ 18,395 | $ 328,806 |
Foreign | 471,460 | 497,830 | 363,791 |
Income before income taxes | $ 608,952 | $ 516,225 | $ 692,597 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current: | |||
Federal | $ 7,753 | $ 4,552 | $ (17,906) |
State and local | (156) | 1,597 | (4,624) |
Foreign | (76,450) | (171,092) | (135,356) |
Subtotal | (68,853) | (164,943) | (157,886) |
Deferred: | |||
Federal | 11,060 | 16,553 | (7,459) |
State and local | (1,411) | 704 | (1,775) |
Foreign | (50,020) | 1,535 | (18,232) |
Subtotal | (40,371) | 18,792 | (27,466) |
Income tax expense | $ (109,224) | $ (146,151) | $ (185,352) |
Income Taxes - Income Tax Recon
Income Taxes - Income Tax Reconciliation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | |||
Federal tax at statutory rate | $ (127,880) | $ (109,906) | $ (145,445) |
State and local tax (expense) benefit | (1,513) | 2,071 | (5,852) |
Deferred tax assets generated in current year not benefited | (19,703) | (12,852) | (5,398) |
Foreign income tax rate differential | (18,918) | (16,364) | (11,610) |
Non-deductible expenses | (10,579) | (4,427) | (1,021) |
Stock-based compensation expense | (1,385) | (954) | (2,105) |
Change in valuation allowance | (595) | 390 | (2,870) |
Foreign financing activities | (4,805) | (11,743) | (18,738) |
Loss on divestments | 0 | 0 | (3,277) |
Uncertain tax positions reserve | 50,059 | (38,014) | (35,724) |
Tax adjustments related to REIT | 39,164 | 50,107 | 63,614 |
Change in deferred tax adjustments | (1,251) | (136) | (10,574) |
Effect of tax rate change on deferred tax assets | (12,297) | 0 | 0 |
Other, net | 479 | (4,323) | (6,352) |
Income tax expense | $ (109,224) | $ (146,151) | $ (185,352) |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Income Tax Contingency [Line Items] | |||
Unrecognized tax benefits that would impact effective tax rate | $ 148.3 | ||
Tax basis of REIT assets in excess of balance sheet | 2,200 | ||
Tax credit carryforward | 7.2 | ||
Unrecognized tax benefits, interest and penalties accrued | 13.6 | $ 21.3 | $ 14.2 |
Capital Loss Carryforward | |||
Income Tax Contingency [Line Items] | |||
Tax credit carryforward | 8 | ||
Indemnification Agreement | |||
Income Tax Contingency [Line Items] | |||
Unrecognized tax benefits that would impact effective tax rate | 3.4 | ||
Indemnification Agreement | Metronode | |||
Income Tax Contingency [Line Items] | |||
Unrecognized tax benefits that would impact effective tax rate | $ 32 |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred tax assets: | ||||
Stock-based compensation expense | $ 9,057 | $ 5,583 | ||
Net unrealized losses | 0 | 17,268 | ||
Operating lease liabilities | 225,261 | 187,912 | ||
Capital lease liabilities | 13,927 | 26,655 | ||
Deferred revenue | 14,429 | 10,785 | ||
Loss carryforwards and tax credits | 201,132 | 117,150 | ||
Others, net | 7,257 | 4,296 | ||
Gross deferred tax assets | 471,063 | 369,649 | ||
Valuation allowance | (100,746) | (82,344) | $ (57,812) | $ (57,003) |
Total deferred tax assets, net | 370,317 | 287,305 | ||
Deferred tax liabilities: | ||||
Net unrealized gains | (1,462) | 0 | ||
Property, plant and equipment | (262,532) | (145,314) | ||
Right-of-use assets | (233,199) | (201,714) | ||
Deferred income | (33,052) | (31,538) | ||
Intangible assets | (120,543) | (132,681) | ||
Total deferred tax liabilities | (650,788) | (511,247) | ||
Net deferred tax liabilities | $ (280,471) | $ (223,942) |
Income Taxes - Changes in Valua
Income Taxes - Changes in Valuation Allowance for Deferred Tax Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Deferred Tax Assets, Valuation Allowance [Roll Forward] | |||
Beginning balance | $ 82,344 | $ 57,812 | $ 57,003 |
Amounts from acquisitions | 964 | 5,777 | (2,707) |
Divested balances | 0 | 0 | (351) |
Amounts recognized into income | 595 | (390) | 2,870 |
Current increase | 19,539 | 15,044 | 697 |
Impact of foreign currency exchange | (2,696) | 4,101 | 300 |
Ending balance | $ 100,746 | $ 82,344 | $ 57,812 |
Income Taxes - Schedule of Net
Income Taxes - Schedule of Net Operating Loss Carryforwards (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | $ 1,154,227 |
2022 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 21,562 |
2023 to 2025 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 52,826 |
2026 to 2028 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 24,746 |
2029 to 2031 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 33,616 |
2032 to 2034 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 1,216 |
2035 to 2037 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 13,068 |
Thereafter | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 1,007,193 |
Federal | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 504,648 |
Net operating loss carryforwards that will not be available to offset | 56,700 |
Federal | 2022 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 20,808 |
Federal | 2023 to 2025 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 26,838 |
Federal | 2026 to 2028 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 12,186 |
Federal | 2029 to 2031 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 0 |
Federal | 2032 to 2034 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 394 |
Federal | 2035 to 2037 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 6,739 |
Federal | Thereafter | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 437,683 |
State | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 84,805 |
State | 2022 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 0 |
State | 2023 to 2025 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 112 |
State | 2026 to 2028 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 0 |
State | 2029 to 2031 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 767 |
State | 2032 to 2034 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 822 |
State | 2035 to 2037 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 2,491 |
State | Thereafter | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 80,613 |
Foreign | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 564,774 |
Foreign | 2022 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 754 |
Foreign | 2023 to 2025 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 25,876 |
Foreign | 2026 to 2028 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 12,560 |
Foreign | 2029 to 2031 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 32,849 |
Foreign | 2032 to 2034 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 0 |
Foreign | 2035 to 2037 | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 3,838 |
Foreign | Thereafter | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | $ 488,897 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Beginning balance | $ 207,759 | $ 173,726 | $ 150,930 |
Gross increases related to prior year tax positions | 4,547 | 14,732 | 0 |
Gross decreases related to prior year tax positions | (58,356) | 0 | (1,160) |
Gross increases related to current year tax positions | 10,000 | 29,149 | 31,332 |
Decreases resulting from expiration of statute of limitation | (10,561) | (6,518) | (2,112) |
Decreases resulting from settlements | (5,089) | (3,330) | (5,264) |
Ending balance | $ 148,300 | $ 207,759 | $ 173,726 |
Commitments and Contingencies (
Commitments and Contingencies (Detail) | Dec. 31, 2021USD ($)claim | Sep. 30, 2021 |
Other Commitments [Line Items] | ||
Number of pending claims | claim | 0 | |
Severance payment percent, scenario one | 100.00% | |
Severance payment percent, scenario two | 200.00% | |
Severance payment percent, scenario three | 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 | |
Service level credits agreement | ||
Other Commitments [Line Items] | ||
Liabilities under guarantor agreements | 0 | |
Capital expenditures | ||
Other Commitments [Line Items] | ||
Purchase commitments | 1,000,000,000 | |
Miscellaneous purchase commitments | ||
Other Commitments [Line Items] | ||
Purchase commitments | $ 1,300,000,000 | |
EMEA 2 Joint Venture | ||
Other Commitments [Line Items] | ||
Ownership Percentage | 20.00% | |
EMEA 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary | ||
Other Commitments [Line Items] | ||
Ownership Percentage | 20.00% | |
EMEA 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary | EMEA 2 Joint Venture Credit Facility | ||
Other Commitments [Line Items] | ||
Maximum borrowing capacity | $ 1,400,000,000 | |
Percentage guarantee on debt payments | 0.20 | |
Maximum guarantee under credit facility arrangement | $ 310,800,000 | |
Maximum future payments under debt guarantees | $ 38,100,000 |
Related Party Transactions - Su
Related Party Transactions - Summary of Gains (Losses) of Joint Venture Arrangements (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Related Party Transaction [Line Items] | |||
Revenues | $ 140,947 | $ 95,264 | $ 25,905 |
Expenses | 5,337 | 10,849 | 15,844 |
EMEA 1 Joint Venture | Joint Venture | |||
Related Party Transaction [Line Items] | |||
Revenues | 42,387 | 21,306 | 3,707 |
Expenses | $ 8,303 | 14,935 | 2,076 |
EMEA 1 Joint Venture | Joint Venture | Sublease, Equinix's London 10-2 Data Center | |||
Related Party Transaction [Line Items] | |||
Sublease, lease term (in years) | 15 years | ||
Asia-Pacific 1 Joint Venture | Joint Venture | Variable Interest Entity, Not Primary Beneficiary | |||
Related Party Transaction [Line Items] | |||
Revenues | $ 21,223 | 588 | 0 |
EMEA 2 Joint Venture | Joint Venture | Variable Interest Entity, Not Primary Beneficiary | |||
Related Party Transaction [Line Items] | |||
Revenues | $ 7,097 | $ 0 | $ 0 |
Related Party Transactions - _2
Related Party Transactions - Summary of Assets and Liabilities from Related Party Transactions with the Joint Ventures (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Related Party Transaction [Line Items] | ||
Accounts receivable | $ 27,997 | $ 6,519 |
Finance lease assets | 1,875,696 | 1,688,032 |
Finance lease liability | 2,137,509 | |
Payables | 20 | 0 |
EMEA 1 Joint Venture | Joint Venture | ||
Related Party Transaction [Line Items] | ||
Accounts receivable | 32,077 | 6,459 |
Contract assets | 54,503 | 5,614 |
Finance lease assets | 118,817 | 127,197 |
Other liabilities and payables | 2,483 | 17,646 |
Other liabilities and payables - construction obligation | 39,382 | 55,607 |
Deferred revenue | 16,886 | 0 |
Finance lease liability | 124,918 | 130,756 |
Asia-Pacific 1 Joint Venture | Joint Venture | Variable Interest Entity, Not Primary Beneficiary | ||
Related Party Transaction [Line Items] | ||
Accounts receivable | 2,124 | 16,936 |
Payables | 121 | 0 |
EMEA 2 Joint Venture | Joint Venture | Variable Interest Entity, Not Primary Beneficiary | ||
Related Party Transaction [Line Items] | ||
Accounts receivable | 26,953 | 0 |
Contract assets | 1,492 | 0 |
Payables | $ 1,755 | $ 0 |
Related Party Transactions - Ot
Related Party Transactions - Other Related Party Transactions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Related Party Transactions [Abstract] | |||
Revenues | $ 140,947 | $ 95,264 | $ 25,905 |
Costs and services | 5,337 | 10,849 | $ 15,844 |
Accounts receivable | 27,997 | 6,519 | |
Accounts payable | $ 20 | $ 0 |
Segment Information - Additiona
Segment Information - Additional Information (Detail) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021USD ($)segment | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Segment Reporting [Abstract] | |||
Number of reportable segments | segment | 3 | ||
Segment Reporting Information [Line Items] | |||
Revenues | $ 6,635,537 | $ 5,998,545 | $ 5,562,140 |
Americas | |||
Segment Reporting Information [Line Items] | |||
Revenues | 3,021,751 | 2,707,758 | 2,587,727 |
U.S. | Americas | |||
Segment Reporting Information [Line Items] | |||
Revenues | $ 2,600,000 | $ 2,500,000 | $ 2,400,000 |
Segment Information - Revenue I
Segment Information - Revenue Information by Category (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue from External Customer [Line Items] | |||
Revenues | $ 6,635,537 | $ 5,998,545 | $ 5,562,140 |
Recurring revenues | |||
Revenue from External Customer [Line Items] | |||
Revenues | 6,220,485 | 5,658,030 | 5,238,186 |
Colocation | |||
Revenue from External Customer [Line Items] | |||
Revenues | 4,642,214 | 4,259,001 | 4,022,207 |
Interconnection | |||
Revenue from External Customer [Line Items] | |||
Revenues | 1,161,502 | 1,023,258 | 893,589 |
Managed infrastructure | |||
Revenue from External Customer [Line Items] | |||
Revenues | 380,857 | 337,345 | 292,628 |
Other | |||
Revenue from External Customer [Line Items] | |||
Revenues | 35,912 | 38,426 | 29,762 |
Non-recurring revenues | |||
Revenue from External Customer [Line Items] | |||
Revenues | 415,052 | 340,515 | 323,954 |
Americas | |||
Revenue from External Customer [Line Items] | |||
Revenues | 3,021,751 | 2,707,758 | 2,587,727 |
Americas | Recurring revenues | |||
Revenue from External Customer [Line Items] | |||
Revenues | 2,861,937 | 2,582,800 | 2,456,368 |
Americas | Colocation | |||
Revenue from External Customer [Line Items] | |||
Revenues | 2,002,253 | 1,820,709 | 1,769,654 |
Americas | Interconnection | |||
Revenue from External Customer [Line Items] | |||
Revenues | 678,677 | 622,327 | 576,709 |
Americas | Managed infrastructure | |||
Revenue from External Customer [Line Items] | |||
Revenues | 168,577 | 120,159 | 90,262 |
Americas | Other | |||
Revenue from External Customer [Line Items] | |||
Revenues | 12,430 | 19,605 | 19,743 |
Americas | Non-recurring revenues | |||
Revenue from External Customer [Line Items] | |||
Revenues | 159,814 | 124,958 | 131,359 |
EMEA | |||
Revenue from External Customer [Line Items] | |||
Revenues | 2,155,216 | 1,996,389 | 1,806,444 |
EMEA | Recurring revenues | |||
Revenue from External Customer [Line Items] | |||
Revenues | 2,001,931 | 1,864,720 | 1,680,746 |
EMEA | Colocation | |||
Revenue from External Customer [Line Items] | |||
Revenues | 1,597,830 | 1,504,770 | 1,395,544 |
EMEA | Interconnection | |||
Revenue from External Customer [Line Items] | |||
Revenues | 259,538 | 213,490 | 161,552 |
EMEA | Managed infrastructure | |||
Revenue from External Customer [Line Items] | |||
Revenues | 124,937 | 127,722 | 113,631 |
EMEA | Other | |||
Revenue from External Customer [Line Items] | |||
Revenues | 19,626 | 18,738 | 10,019 |
EMEA | Non-recurring revenues | |||
Revenue from External Customer [Line Items] | |||
Revenues | 153,285 | 131,669 | 125,698 |
Asia-Pacific | |||
Revenue from External Customer [Line Items] | |||
Revenues | 1,458,570 | 1,294,398 | 1,167,969 |
Asia-Pacific | Recurring revenues | |||
Revenue from External Customer [Line Items] | |||
Revenues | 1,356,617 | 1,210,510 | 1,101,072 |
Asia-Pacific | Colocation | |||
Revenue from External Customer [Line Items] | |||
Revenues | 1,042,131 | 933,522 | 857,009 |
Asia-Pacific | Interconnection | |||
Revenue from External Customer [Line Items] | |||
Revenues | 223,287 | 187,441 | 155,328 |
Asia-Pacific | Managed infrastructure | |||
Revenue from External Customer [Line Items] | |||
Revenues | 87,343 | 89,464 | 88,735 |
Asia-Pacific | Other | |||
Revenue from External Customer [Line Items] | |||
Revenues | 3,856 | 83 | 0 |
Asia-Pacific | Non-recurring revenues | |||
Revenue from External Customer [Line Items] | |||
Revenues | $ 101,953 | $ 83,888 | $ 66,897 |
Segment Information - Schedule
Segment Information - Schedule of Adjusted EBITDA (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |||
Adjusted EBITDA | $ 3,144,384 | $ 2,852,898 | $ 2,687,727 |
Depreciation, amortization and accretion expense | (1,660,524) | (1,427,010) | (1,285,296) |
Stock-based compensation expense | (363,774) | (311,020) | (236,539) |
Transaction costs | (22,769) | (55,935) | (24,781) |
Impairment charges | 0 | (7,306) | (15,790) |
Gain on asset sales | 10,845 | 1,301 | 44,310 |
Income from operations | 1,108,162 | 1,052,928 | 1,169,631 |
Americas | |||
Segment Reporting Information [Line Items] | |||
Adjusted EBITDA | 1,326,460 | 1,186,022 | 1,237,622 |
EMEA | |||
Segment Reporting Information [Line Items] | |||
Adjusted EBITDA | 1,033,333 | 974,246 | 827,980 |
Asia-Pacific | |||
Segment Reporting Information [Line Items] | |||
Adjusted EBITDA | $ 784,591 | $ 692,630 | $ 622,125 |
Segment Information - Segment D
Segment Information - Segment Disclosures (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | $ 1,656,290 | $ 1,423,369 | $ 1,284,837 |
Capital expenditures | 2,751,512 | 2,282,504 | 2,079,521 |
Americas | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | 865,910 | 729,611 | 669,498 |
Capital expenditures | 970,217 | 866,989 | 805,360 |
EMEA | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | 455,651 | 389,332 | 353,765 |
Capital expenditures | 1,049,279 | 888,239 | 733,326 |
Asia-Pacific | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | 334,729 | 304,426 | 261,574 |
Capital expenditures | $ 732,016 | $ 527,276 | $ 540,835 |
Segment Information - Long-Live
Segment Information - Long-Lived Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Property, plant and equipment, net | $ 15,445,775 | $ 14,503,084 |
Operating lease right-of-use assets | 1,282,418 | 1,475,057 |
Americas | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Property, plant and equipment, net | 6,777,174 | 6,429,861 |
Operating lease right-of-use assets | 297,300 | 363,515 |
Americas | U.S. | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Property, plant and equipment, net | 5,400,000 | 5,200,000 |
Operating lease right-of-use assets | 271,000 | 334,700 |
EMEA | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Property, plant and equipment, net | 5,125,341 | 5,002,271 |
Operating lease right-of-use assets | 470,330 | 547,547 |
Asia-Pacific | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Property, plant and equipment, net | 3,543,260 | 3,070,952 |
Operating lease right-of-use assets | $ 514,788 | $ 563,995 |
Subsequent Events (Details)
Subsequent Events (Details) | Feb. 16, 2022$ / shares | Jan. 27, 2022USD ($)center | Jan. 07, 2022USD ($) | Jan. 07, 2022GBP (£) | Jan. 07, 2022GBP (£) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2017USD ($) |
Subsequent Event [Line Items] | ||||||||
Equity method investments | $ 245,049,000 | $ 163,071,000 | ||||||
Line of Credit | 2017 Senior Credit Facility | ||||||||
Subsequent Event [Line Items] | ||||||||
Maximum borrowing capacity | $ 3,000,000,000 | |||||||
Revolving Credit Facility | Line of Credit | 2017 Senior Credit Facility | ||||||||
Subsequent Event [Line Items] | ||||||||
Maximum borrowing capacity | 2,000,000,000 | |||||||
Term loans | Line of Credit | 2017 Senior Credit Facility | ||||||||
Subsequent Event [Line Items] | ||||||||
Maximum borrowing capacity | $ 1,000,000,000 | |||||||
Subsequent event | ||||||||
Subsequent Event [Line Items] | ||||||||
Cash dividends declared per share (in dollars per share) | $ / shares | $ 3.10 | |||||||
Subsequent event | APAC 3 Joint Venture | ||||||||
Subsequent Event [Line Items] | ||||||||
Equity method investments | $ 525,000,000 | |||||||
Number of data centers to develop and operate | center | 2 | |||||||
Subsequent event | Line of Credit | 2022 Senior Credit Facility | ||||||||
Subsequent Event [Line Items] | ||||||||
Proceeds from lines of credit | $ 119,500,000 | £ 88,000,000 | ||||||
Subsequent event | Revolving Credit Facility | Line of Credit | 2022 Senior Credit Facility | ||||||||
Subsequent Event [Line Items] | ||||||||
Maximum borrowing capacity | $ 4,000,000,000 | |||||||
Subsequent event | Term loans | Line of Credit | 2022 Senior Credit Facility | ||||||||
Subsequent Event [Line Items] | ||||||||
Maximum borrowing capacity | £ | £ 500,000,000 | |||||||
Repayments of debt | £ | £ 406,300,000 |
Schedule III - Real Estate an_2
Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation, by Property (Detail) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Initial Costs to Company | ||||
Encumbrances | $ 30,310,000 | |||
Land | 598,614,000 | |||
Buildings and Improvements | 4,687,056,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 387,949,000 | |||
Buildings and Improvements | 16,232,443,000 | |||
Total Costs | ||||
Land | 986,560,000 | |||
Buildings and Improvements | 20,919,495,000 | |||
Accumulated Depreciation | (7,274,860,000) | $ (6,399,477,000) | $ (5,329,182,000) | $ (4,517,016,000) |
Taxable basis in aggregate initial cost | 29,100,000,000 | |||
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 | 151,612,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 151,612,000 | |||
Accumulated Depreciation | (82,544,000) | |||
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 | 38,799,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 38,799,000 | |||
Accumulated Depreciation | (28,723,000) | |||
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 | (3,348,000) | |||
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 | 20,446,000 | |||
Total Costs | ||||
Land | 5,400,000 | |||
Buildings and Improvements | 40,655,000 | |||
Accumulated Depreciation | (13,506,000) | |||
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 | 2,207,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 7,218,000 | |||
Accumulated Depreciation | (5,101,000) | |||
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 | 749,000 | |||
Buildings and Improvements | 5,408,000 | |||
Total Costs | ||||
Land | 749,000 | |||
Buildings and Improvements | 14,187,000 | |||
Accumulated Depreciation | (5,040,000) | |||
Americas | BG2 BOGOTÁ (METRO), COLOMBIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 4,815,000 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 10,730,000 | |||
Total Costs | ||||
Land | 4,815,000 | |||
Buildings and Improvements | 10,730,000 | |||
Accumulated Depreciation | 0 | |||
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 | 36,598,000 | |||
Total Costs | ||||
Land | 2,500,000 | |||
Buildings and Improvements | 66,981,000 | |||
Accumulated Depreciation | (16,486,000) | |||
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 | 162,703,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 162,703,000 | |||
Accumulated Depreciation | (108,670,000) | |||
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 | 118,498,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 118,498,000 | |||
Accumulated Depreciation | (63,074,000) | |||
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 | 354,558,000 | |||
Total Costs | ||||
Land | 10,110,000 | |||
Buildings and Improvements | 354,558,000 | |||
Accumulated Depreciation | (155,151,000) | |||
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 | 22,911,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 22,911,000 | |||
Accumulated Depreciation | (14,761,000) | |||
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 | 8,164,000 | |||
Total Costs | ||||
Land | 670,000 | |||
Buildings and Improvements | 18,728,000 | |||
Accumulated Depreciation | (6,185,000) | |||
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 | 2,719,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 14,291,000 | |||
Accumulated Depreciation | (3,419,000) | |||
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 | 5,223,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 19,368,000 | |||
Accumulated Depreciation | (4,293,000) | |||
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 | 395,000 | |||
Buildings and Improvements | 15,473,000 | |||
Total Costs | ||||
Land | 8,304,000 | |||
Buildings and Improvements | 84,807,000 | |||
Accumulated Depreciation | (9,371,000) | |||
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 | 5,734,000 | |||
Total Costs | ||||
Land | 1,019,000 | |||
Buildings and Improvements | 43,315,000 | |||
Accumulated Depreciation | (17,847,000) | |||
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 | 12,546,000 | |||
Total Costs | ||||
Land | 1,244,000 | |||
Buildings and Improvements | 60,546,000 | |||
Accumulated Depreciation | (19,028,000) | |||
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 | 3,104,000 | |||
Total Costs | ||||
Land | 1,088,000 | |||
Buildings and Improvements | 40,491,000 | |||
Accumulated Depreciation | (14,112,000) | |||
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 | 34,983,000 | |||
Total Costs | ||||
Land | 1,372,000 | |||
Buildings and Improvements | 62,815,000 | |||
Accumulated Depreciation | (12,897,000) | |||
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 | 69,250,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 69,250,000 | |||
Accumulated Depreciation | (42,245,000) | |||
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 | 81,911,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 81,911,000 | |||
Accumulated Depreciation | (34,463,000) | |||
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 | 97,996,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 97,996,000 | |||
Accumulated Depreciation | (45,222,000) | |||
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 | 16,789,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 16,789,000 | |||
Accumulated Depreciation | (9,588,000) | |||
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 | 174,231,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 194,753,000 | |||
Accumulated Depreciation | (48,576,000) | |||
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 | 30,709,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 30,709,000 | |||
Accumulated Depreciation | (16,356,000) | |||
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 | 6,868,000 | |||
Total Costs | ||||
Land | 610,000 | |||
Buildings and Improvements | 22,265,000 | |||
Accumulated Depreciation | (7,481,000) | |||
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 | 175,787,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 175,787,000 | |||
Accumulated Depreciation | (13,565,000) | |||
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 | 26,974,000 | |||
Total Costs | ||||
Land | 27,673,000 | |||
Buildings and Improvements | 364,617,000 | |||
Accumulated Depreciation | (42,321,000) | |||
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 | 5,477,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 5,477,000 | |||
Accumulated Depreciation | (2,251,000) | |||
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 | 126,667,000 | |||
Total Costs | ||||
Land | 5,047,000 | |||
Buildings and Improvements | 126,667,000 | |||
Accumulated Depreciation | (98,822,000) | |||
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 | 50,459,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 87,910,000 | |||
Accumulated Depreciation | (55,075,000) | |||
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 | 74,265,000 | |||
Total Costs | ||||
Land | 1,906,000 | |||
Buildings and Improvements | 81,537,000 | |||
Accumulated Depreciation | (59,399,000) | |||
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 | 93,177,000 | |||
Total Costs | ||||
Land | 1,429,000 | |||
Buildings and Improvements | 98,160,000 | |||
Accumulated Depreciation | (70,435,000) | |||
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 | 92,783,000 | |||
Total Costs | ||||
Land | 1,429,000 | |||
Buildings and Improvements | 97,865,000 | |||
Accumulated Depreciation | (55,372,000) | |||
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 | 19,080,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 19,080,000 | |||
Accumulated Depreciation | (14,401,000) | |||
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 | 88,492,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 133,093,000 | |||
Accumulated Depreciation | (99,617,000) | |||
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 | 187,604,000 | |||
Total Costs | ||||
Land | 1,429,000 | |||
Buildings and Improvements | 192,686,000 | |||
Accumulated Depreciation | (72,664,000) | |||
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 | 81,604,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 183,387,000 | |||
Accumulated Depreciation | (37,732,000) | |||
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 | 21,656,000 | |||
Total Costs | ||||
Land | 5,500,000 | |||
Buildings and Improvements | 47,079,000 | |||
Accumulated Depreciation | (16,183,000) | |||
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 | 15,726,000 | |||
Total Costs | ||||
Land | 2,560,000 | |||
Buildings and Improvements | 49,237,000 | |||
Accumulated Depreciation | (14,491,000) | |||
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 | 1,965,000 | |||
Buildings and Improvements | 170,776,000 | |||
Total Costs | ||||
Land | 3,929,000 | |||
Buildings and Improvements | 170,776,000 | |||
Accumulated Depreciation | (12,708,000) | |||
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 | 100,804,000 | |||
Total Costs | ||||
Land | 1,507,000 | |||
Buildings and Improvements | 100,804,000 | |||
Accumulated Depreciation | (6,622,000) | |||
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 | 847,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 2,867,000 | |||
Accumulated Depreciation | (1,564,000) | |||
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 | 9,849,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 9,849,000 | |||
Accumulated Depreciation | (8,845,000) | |||
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 | 31,064,000 | |||
Total Costs | ||||
Land | 5,240,000 | |||
Buildings and Improvements | 54,116,000 | |||
Accumulated Depreciation | (17,837,000) | |||
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 | 33,281,000 | |||
Total Costs | ||||
Land | 1,440,000 | |||
Buildings and Improvements | 57,060,000 | |||
Accumulated Depreciation | (18,065,000) | |||
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 | 149,000 | |||
Buildings and Improvements | 6,768,000 | |||
Total Costs | ||||
Land | 3,140,000 | |||
Buildings and Improvements | 53,751,000 | |||
Accumulated Depreciation | (5,537,000) | |||
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 | 110,808,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 110,808,000 | |||
Accumulated Depreciation | (75,153,000) | |||
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 | 10,582,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 10,582,000 | |||
Accumulated Depreciation | (9,250,000) | |||
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 | 17,368,000 | |||
Total Costs | ||||
Land | 3,959,000 | |||
Buildings and Improvements | 52,095,000 | |||
Accumulated Depreciation | (43,042,000) | |||
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 | 58,351,000 | |||
Total Costs | ||||
Land | 19,333,000 | |||
Buildings and Improvements | 195,981,000 | |||
Accumulated Depreciation | (102,469,000) | |||
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 | 56,409,000 | |||
Total Costs | ||||
Land | 7,800,000 | |||
Buildings and Improvements | 90,030,000 | |||
Accumulated Depreciation | (17,280,000) | |||
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 | 112,732,000 | |||
Total Costs | ||||
Land | 18,920,000 | |||
Buildings and Improvements | 239,925,000 | |||
Accumulated Depreciation | (74,698,000) | |||
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 | 22,677,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 22,677,000 | |||
Accumulated Depreciation | (15,028,000) | |||
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 | 33,886,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 33,886,000 | |||
Accumulated Depreciation | (20,458,000) | |||
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 | 9,848,000 | |||
Total Costs | ||||
Land | 4,750,000 | |||
Buildings and Improvements | 32,865,000 | |||
Accumulated Depreciation | (13,768,000) | |||
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 | 4,557,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 7,129,000 | |||
Accumulated Depreciation | (909,000) | |||
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 | 12,745,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 89,678,000 | |||
Accumulated Depreciation | (13,974,000) | |||
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 | 35,428,000 | |||
Total Costs | ||||
Land | 1,090,000 | |||
Buildings and Improvements | 89,409,000 | |||
Accumulated Depreciation | (8,341,000) | |||
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 | 52,318,000 | |||
Total Costs | ||||
Land | 1,090,000 | |||
Buildings and Improvements | 68,379,000 | |||
Accumulated Depreciation | (1,979,000) | |||
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 | 71,716,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 71,716,000 | |||
Accumulated Depreciation | (47,232,000) | |||
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 | 207,035,000 | |||
Total Costs | ||||
Land | 17,859,000 | |||
Buildings and Improvements | 207,035,000 | |||
Accumulated Depreciation | (135,182,000) | |||
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 | 364,176,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 364,176,000 | |||
Accumulated Depreciation | (211,873,000) | |||
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 | 296,054,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 296,054,000 | |||
Accumulated Depreciation | (99,005,000) | |||
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 | 95,441,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 95,441,000 | |||
Accumulated Depreciation | (18,988,000) | |||
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 | 172,048,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 196,708,000 | |||
Accumulated Depreciation | (142,718,000) | |||
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 | 50,109,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 50,109,000 | |||
Accumulated Depreciation | (38,190,000) | |||
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 | 24,588,000 | |||
Total Costs | ||||
Land | 2,050,000 | |||
Buildings and Improvements | 83,305,000 | |||
Accumulated Depreciation | (26,847,000) | |||
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 | 8,300,000 | |||
Buildings and Improvements | 6,583,000 | |||
Total Costs | ||||
Land | 8,300,000 | |||
Buildings and Improvements | 38,187,000 | |||
Accumulated Depreciation | (18,342,000) | |||
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 | 75,000 | |||
Buildings and Improvements | 4,490,000 | |||
Total Costs | ||||
Land | 1,661,000 | |||
Buildings and Improvements | 43,618,000 | |||
Accumulated Depreciation | (5,397,000) | |||
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 | 44,638,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 44,638,000 | |||
Accumulated Depreciation | (21,454,000) | |||
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 | 18,064,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 18,064,000 | |||
Accumulated Depreciation | (13,455,000) | |||
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 | 1,181,000 | |||
Buildings and Improvements | 55,254,000 | |||
Total Costs | ||||
Land | 1,181,000 | |||
Buildings and Improvements | 57,266,000 | |||
Accumulated Depreciation | (19,885,000) | |||
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 | 31,109,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 31,109,000 | |||
Accumulated Depreciation | (24,939,000) | |||
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 | 101,258,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 103,018,000 | |||
Accumulated Depreciation | (63,601,000) | |||
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 | 37,022,000 | |||
Total Costs | ||||
Land | 4,000,000 | |||
Buildings and Improvements | 49,925,000 | |||
Accumulated Depreciation | (11,090,000) | |||
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 | 8,000 | |||
Buildings and Improvements | 1,428,000 | |||
Total Costs | ||||
Land | 170,000 | |||
Buildings and Improvements | 15,703,000 | |||
Accumulated Depreciation | (1,861,000) | |||
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 | 14,870,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 25,058,000 | |||
Accumulated Depreciation | (18,478,000) | |||
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 | 2,874,000 | |||
Buildings and Improvements | 48,068,000 | |||
Total Costs | ||||
Land | 2,874,000 | |||
Buildings and Improvements | 48,068,000 | |||
Accumulated Depreciation | (35,184,000) | |||
Americas | SP3 SÃO PAULO (METRO), BRAZIL | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 7,222,000 | |||
Buildings and Improvements | 72,997,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 42,690,000 | |||
Total Costs | ||||
Land | 7,223,000 | |||
Buildings and Improvements | 115,688,000 | |||
Accumulated Depreciation | (37,026,000) | |||
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 | 57,782,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 79,809,000 | |||
Accumulated Depreciation | (15,875,000) | |||
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 | 144,829,000 | |||
Total Costs | ||||
Land | 15,545,000 | |||
Buildings and Improvements | 144,829,000 | |||
Accumulated Depreciation | (100,483,000) | |||
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 | 157,926,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 157,926,000 | |||
Accumulated Depreciation | (100,979,000) | |||
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 | 77,334,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 77,334,000 | |||
Accumulated Depreciation | (41,552,000) | |||
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 | 102,684,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 102,684,000 | |||
Accumulated Depreciation | (26,207,000) | |||
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 | 101,852,000 | |||
Total Costs | ||||
Land | 6,238,000 | |||
Buildings and Improvements | 200,843,000 | |||
Accumulated Depreciation | (91,142,000) | |||
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 | 30,329,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 45,914,000 | |||
Accumulated Depreciation | (42,339,000) | |||
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 | 157,147,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 157,147,000 | |||
Accumulated Depreciation | (42,067,000) | |||
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 | 93,742,000 | |||
Total Costs | ||||
Land | 12,646,000 | |||
Buildings and Improvements | 217,336,000 | |||
Accumulated Depreciation | (42,743,000) | |||
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 | 147,118,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 147,118,000 | |||
Accumulated Depreciation | (3,081,000) | |||
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 | 8,586,000 | |||
Total Costs | ||||
Land | 20,313,000 | |||
Buildings and Improvements | 8,586,000 | |||
Accumulated Depreciation | 0 | |||
Americas | SV13 SILICON VALLEY (METRO) | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 3,758,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 3,758,000 | |||
Accumulated Depreciation | (3,225,000) | |||
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 | 3,782,000 | |||
Total Costs | ||||
Land | 3,638,000 | |||
Buildings and Improvements | 9,285,000 | |||
Accumulated Depreciation | (3,044,000) | |||
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 | 9,875,000 | |||
Total Costs | ||||
Land | 7,651,000 | |||
Buildings and Improvements | 32,934,000 | |||
Accumulated Depreciation | (11,023,000) | |||
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 | 5,056,000 | |||
Total Costs | ||||
Land | 4,271,000 | |||
Buildings and Improvements | 20,074,000 | |||
Accumulated Depreciation | (6,506,000) | |||
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 | 3,368,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 20,862,000 | |||
Accumulated Depreciation | (14,966,000) | |||
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 | 92,608,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 92,608,000 | |||
Accumulated Depreciation | (38,106,000) | |||
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 | 107,044,000 | |||
Buildings and Improvements | 142,753,000 | |||
Total Costs | ||||
Land | 107,044,000 | |||
Buildings and Improvements | 163,865,000 | |||
Accumulated Depreciation | (32,874,000) | |||
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 | 4,014,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 17,999,000 | |||
Accumulated Depreciation | (5,308,000) | |||
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 | 2,594,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 27,507,000 | |||
Accumulated Depreciation | (5,928,000) | |||
Americas | TR6 BRAMPTON (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 9,386,000 | |||
Buildings and Improvements | 58,704,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 3,316,000 | |||
Buildings and Improvements | 0 | |||
Total Costs | ||||
Land | 12,702,000 | |||
Buildings and Improvements | 58,704,000 | |||
Accumulated Depreciation | (6,151,000) | |||
Americas | TR7 BRAMPTON (METRO), CANADA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 9,855,000 | |||
Buildings and Improvements | 71,966,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 18,170,000 | |||
Total Costs | ||||
Land | 9,854,000 | |||
Buildings and Improvements | 90,136,000 | |||
Accumulated Depreciation | (13,019,000) | |||
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 | 2,233,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 6,901,000 | |||
Accumulated Depreciation | (1,048,000) | |||
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 | 4,976,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 62,210,000 | |||
Accumulated Depreciation | (2,379,000) | |||
Americas | OTHERS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 76,482,000 | |||
Buildings and Improvements | 52,099,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 122,301,000 | |||
Total Costs | ||||
Land | 76,482,000 | |||
Buildings and Improvements | 174,400,000 | |||
Accumulated Depreciation | (21,468,000) | |||
EMEA | OTHERS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 59,811,000 | |||
Buildings and Improvements | 18,309,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 17,398,000 | |||
Buildings and Improvements | 32,642,000 | |||
Total Costs | ||||
Land | 77,209,000 | |||
Buildings and Improvements | 50,951,000 | |||
Accumulated Depreciation | (9,560,000) | |||
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 | 75,587,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 75,587,000 | |||
Accumulated Depreciation | (11,797,000) | |||
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 | 98,785,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 98,785,000 | |||
Accumulated Depreciation | (52,871,000) | |||
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 | 83,244,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 83,244,000 | |||
Accumulated Depreciation | (34,928,000) | |||
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 | 134,758,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 161,857,000 | |||
Accumulated Depreciation | (70,989,000) | |||
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 | 223,115,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 223,115,000 | |||
Accumulated Depreciation | (36,326,000) | |||
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 | 16,153,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 108,352,000 | |||
Accumulated Depreciation | (37,422,000) | |||
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 | 539,000 | |||
Buildings and Improvements | 92,063,000 | |||
Total Costs | ||||
Land | 7,155,000 | |||
Buildings and Improvements | 142,938,000 | |||
Accumulated Depreciation | (32,929,000) | |||
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 | 139,860,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 147,257,000 | |||
Accumulated Depreciation | (25,536,000) | |||
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 | 11,692,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 11,692,000 | |||
Accumulated Depreciation | (6,119,000) | |||
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 | 416,000 | |||
Buildings and Improvements | 13,007,000 | |||
Total Costs | ||||
Land | 416,000 | |||
Buildings and Improvements | 19,412,000 | |||
Accumulated Depreciation | (2,761,000) | |||
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 | 16,468,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 25,911,000 | |||
Accumulated Depreciation | (9,654,000) | |||
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 | 118,000 | |||
Buildings and Improvements | 31,230,000 | |||
Total Costs | ||||
Land | 2,034,000 | |||
Buildings and Improvements | 34,737,000 | |||
Accumulated Depreciation | (778,000) | |||
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 | 5,393,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 5,393,000 | |||
Accumulated Depreciation | (4,455,000) | |||
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 | 9,493,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 21,953,000 | |||
Accumulated Depreciation | (10,735,000) | |||
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 | 271,000 | |||
Buildings and Improvements | 20,819,000 | |||
Total Costs | ||||
Land | 3,605,000 | |||
Buildings and Improvements | 75,206,000 | |||
Accumulated Depreciation | (24,039,000) | |||
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 | 19,088,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 45,963,000 | |||
Accumulated Depreciation | (10,977,000) | |||
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 | 8,235,000 | |||
Buildings and Improvements | 33,389,000 | |||
Total Costs | ||||
Land | 8,235,000 | |||
Buildings and Improvements | 33,389,000 | |||
Accumulated Depreciation | (19,657,000) | |||
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 | 93,205,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 93,205,000 | |||
Accumulated Depreciation | (41,746,000) | |||
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 | 667,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 667,000 | |||
Accumulated Depreciation | (339,000) | |||
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 | 5,460,000 | |||
Total Costs | ||||
Land | 6,737,000 | |||
Buildings and Improvements | 5,460,000 | |||
Accumulated Depreciation | (376,000) | |||
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 | 32,914,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 32,914,000 | |||
Accumulated Depreciation | (24,331,000) | |||
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 | 20,843,000 | |||
Buildings and Improvements | 545,921,000 | |||
Total Costs | ||||
Land | 20,843,000 | |||
Buildings and Improvements | 545,921,000 | |||
Accumulated Depreciation | (171,728,000) | |||
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 | 943,000 | |||
Buildings and Improvements | 103,983,000 | |||
Total Costs | ||||
Land | 12,521,000 | |||
Buildings and Improvements | 113,290,000 | |||
Accumulated Depreciation | (39,794,000) | |||
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 | 14,210,000 | |||
Buildings and Improvements | 224,488,000 | |||
Total Costs | ||||
Land | 14,210,000 | |||
Buildings and Improvements | 224,488,000 | |||
Accumulated Depreciation | (59,488,000) | |||
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 | 140,753,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 140,753,000 | |||
Accumulated Depreciation | (33,382,000) | |||
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 | 37,353,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 80,987,000 | |||
Accumulated Depreciation | (31,181,000) | |||
EMEA | FR8 FRANKFURT (METRO), GERMANY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 20,430,000 | |||
Buildings and Improvements | 58,199,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 48,445,000 | |||
Total Costs | ||||
Land | 20,430,000 | |||
Buildings and Improvements | 106,644,000 | |||
Accumulated Depreciation | (1,119,000) | |||
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 | 31,566,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 31,566,000 | |||
Accumulated Depreciation | (154,000) | |||
EMEA | FR13 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 | 3,218,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 3,218,000 | |||
Accumulated Depreciation | 0 | |||
EMEA | GN1 GENOA (METRO), ITALY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 1,988,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 2,772,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 4,760,000 | |||
Accumulated Depreciation | (51,000) | |||
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 | 26,319,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 26,319,000 | |||
Accumulated Depreciation | (9,864,000) | |||
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 | 44,778,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 44,778,000 | |||
Accumulated Depreciation | (22,820,000) | |||
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 | 4,008,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 4,008,000 | |||
Accumulated Depreciation | (3,554,000) | |||
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 | 15,371,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 15,371,000 | |||
Accumulated Depreciation | (10,364,000) | |||
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 | 7,063,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 36,155,000 | |||
Accumulated Depreciation | (20,133,000) | |||
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 | 19,633,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 27,197,000 | |||
Accumulated Depreciation | (7,027,000) | |||
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 | 1,594,000 | |||
Buildings and Improvements | 30,980,000 | |||
Total Costs | ||||
Land | 1,594,000 | |||
Buildings and Improvements | 48,185,000 | |||
Accumulated Depreciation | (15,811,000) | |||
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 | 1,141,000 | |||
Buildings and Improvements | 51,331,000 | |||
Total Costs | ||||
Land | 8,488,000 | |||
Buildings and Improvements | 58,277,000 | |||
Accumulated Depreciation | (5,421,000) | |||
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 | 610,000 | |||
Buildings and Improvements | 47,875,000 | |||
Total Costs | ||||
Land | 4,222,000 | |||
Buildings and Improvements | 53,235,000 | |||
Accumulated Depreciation | (4,466,000) | |||
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 | 41,641,000 | |||
Total Costs | ||||
Land | 14,460,000 | |||
Buildings and Improvements | 80,930,000 | |||
Accumulated Depreciation | (10,234,000) | |||
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 | 15,380,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 15,380,000 | |||
Accumulated Depreciation | (14,747,000) | |||
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 | 0 | |||
Buildings and Improvements | 137,786,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 160,831,000 | |||
Accumulated Depreciation | (59,443,000) | |||
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 | 189,336,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 205,748,000 | |||
Accumulated Depreciation | (107,560,000) | |||
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 | 151,375,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 151,375,000 | |||
Accumulated Depreciation | (45,283,000) | |||
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 | 2,271,000 | |||
Buildings and Improvements | 271,256,000 | |||
Total Costs | ||||
Land | 2,271,000 | |||
Buildings and Improvements | 271,256,000 | |||
Accumulated Depreciation | (16,921,000) | |||
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 | 88,016,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 195,560,000 | |||
Accumulated Depreciation | (59,180,000) | |||
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 | 176,718,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 358,149,000 | |||
Accumulated Depreciation | (100,677,000) | |||
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 | 108,488,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 148,739,000 | |||
Accumulated Depreciation | (22,593,000) | |||
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 | 3,517,000 | |||
Buildings and Improvements | 11,379,000 | |||
Total Costs | ||||
Land | 3,517,000 | |||
Buildings and Improvements | 18,753,000 | |||
Accumulated Depreciation | (4,690,000) | |||
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 | 15,457,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 15,457,000 | |||
Accumulated Depreciation | (9,016,000) | |||
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 | 10,606,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 10,606,000 | |||
Accumulated Depreciation | (9,336,000) | |||
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 | 9,721,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 54,652,000 | |||
Accumulated Depreciation | (31,547,000) | |||
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 | 6,576,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 13,272,000 | |||
Accumulated Depreciation | (9,222,000) | |||
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 | 407,000 | |||
Buildings and Improvements | 73,093,000 | |||
Total Costs | ||||
Land | 4,113,000 | |||
Buildings and Improvements | 79,967,000 | |||
Accumulated Depreciation | (328,000) | |||
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 | 7,825,000 | |||
Buildings and Improvements | 7,236,000 | |||
Total Costs | ||||
Land | 7,825,000 | |||
Buildings and Improvements | 15,153,000 | |||
Accumulated Depreciation | (5,701,000) | |||
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 | 70,588,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 111,540,000 | |||
Accumulated Depreciation | (35,723,000) | |||
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 | 24,112,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 24,112,000 | |||
Accumulated Depreciation | (15,321,000) | |||
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 | 3,616,000 | |||
Buildings and Improvements | 44,350,000 | |||
Total Costs | ||||
Land | 3,616,000 | |||
Buildings and Improvements | 44,350,000 | |||
Accumulated Depreciation | (15,565,000) | |||
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 | 9,293,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 9,293,000 | |||
Accumulated Depreciation | (7,720,000) | |||
EMEA | ML5 MILAN (METRO), ITALY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 6,894,000 | |||
Buildings and Improvements | 20,952,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 74,033,000 | |||
Total Costs | ||||
Land | 6,894,000 | |||
Buildings and Improvements | 94,985,000 | |||
Accumulated Depreciation | (1,903,000) | |||
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 | 39,084,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 39,084,000 | |||
Accumulated Depreciation | (19,432,000) | |||
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 | 5,909,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 5,909,000 | |||
Accumulated Depreciation | (2,714,000) | |||
EMEA | MU4 MUNICH (METRO), GERMANY | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 12,127,000 | |||
Buildings and Improvements | 35,120,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 51,418,000 | |||
Total Costs | ||||
Land | 12,127,000 | |||
Buildings and Improvements | 86,538,000 | |||
Accumulated Depreciation | (15,000) | |||
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 | 20,946,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 20,946,000 | |||
Accumulated Depreciation | (16,853,000) | |||
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 | 23,608,000 | |||
Buildings and Improvements | 326,618,000 | |||
Total Costs | ||||
Land | 23,608,000 | |||
Buildings and Improvements | 356,233,000 | |||
Accumulated Depreciation | (144,908,000) | |||
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 | 5,516,000 | |||
Buildings and Improvements | 246,653,000 | |||
Total Costs | ||||
Land | 7,114,000 | |||
Buildings and Improvements | 256,156,000 | |||
Accumulated Depreciation | (88,191,000) | |||
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 | 11,829,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 28,383,000 | |||
Accumulated Depreciation | (8,143,000) | |||
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 | 73,366,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 73,366,000 | |||
Accumulated Depreciation | (38,093,000) | |||
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 | 23,419,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 23,419,000 | |||
Accumulated Depreciation | (11,932,000) | |||
EMEA | PA10 PARIS (METRO), FRANCE | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 100,933,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 100,933,000 | |||
Accumulated Depreciation | 0 | |||
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 | 1,572,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 3,139,000 | |||
Accumulated Depreciation | (2,162,000) | |||
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 | 41,282,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 56,777,000 | |||
Accumulated Depreciation | (11,370,000) | |||
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 | 3,914,000 | |||
Buildings and Improvements | 81,981,000 | |||
Total Costs | ||||
Land | 3,914,000 | |||
Buildings and Improvements | 162,129,000 | |||
Accumulated Depreciation | (39,960,000) | |||
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 | 23,857,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 23,857,000 | |||
Accumulated Depreciation | (6,546,000) | |||
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 | 4,470,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 9,706,000 | |||
Accumulated Depreciation | (3,191,000) | |||
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 | 39,000 | |||
Buildings and Improvements | 18,118,000 | |||
Total Costs | ||||
Land | 2,758,000 | |||
Buildings and Improvements | 18,118,000 | |||
Accumulated Depreciation | (2,099,000) | |||
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 | 25,321,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 31,271,000 | |||
Accumulated Depreciation | (9,228,000) | |||
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 | 9,337,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 14,046,000 | |||
Accumulated Depreciation | (5,436,000) | |||
EMEA | WA3 WARSAW (METRO), POLAND | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 2,647,000 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 64,414,000 | |||
Total Costs | ||||
Land | 2,648,000 | |||
Buildings and Improvements | 64,414,000 | |||
Accumulated Depreciation | (2,873,000) | |||
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 | 3,915,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 3,915,000 | |||
Accumulated Depreciation | (2,748,000) | |||
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 | 39,677,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 50,961,000 | |||
Accumulated Depreciation | (28,110,000) | |||
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 | 8,075,000 | |||
Buildings and Improvements | 225,653,000 | |||
Total Costs | ||||
Land | 8,075,000 | |||
Buildings and Improvements | 225,653,000 | |||
Accumulated Depreciation | (35,657,000) | |||
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 | 10,518,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 10,518,000 | |||
Accumulated Depreciation | (8,976,000) | |||
Asia-Pacific | OTHERS | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 1,733,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 17,921,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 19,654,000 | |||
Accumulated Depreciation | (9,964,000) | |||
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 | 96,000 | |||
Buildings and Improvements | 2,149,000 | |||
Total Costs | ||||
Land | 2,749,000 | |||
Buildings and Improvements | 3,164,000 | |||
Accumulated Depreciation | (994,000) | |||
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 | 114,000 | |||
Buildings and Improvements | 2,968,000 | |||
Total Costs | ||||
Land | 3,273,000 | |||
Buildings and Improvements | 4,021,000 | |||
Accumulated Depreciation | (845,000) | |||
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 | 8,454,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 26,864,000 | |||
Accumulated Depreciation | (3,369,000) | |||
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 | 301,395,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 301,395,000 | |||
Accumulated Depreciation | (122,088,000) | |||
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 | 243,358,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 243,358,000 | |||
Accumulated Depreciation | (177,462,000) | |||
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 | 182,078,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 182,078,000 | |||
Accumulated Depreciation | (90,545,000) | |||
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 | 95,305,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 95,305,000 | |||
Accumulated Depreciation | (20,654,000) | |||
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 | 40,919,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 110,921,000 | |||
Accumulated Depreciation | (26,895,000) | |||
Asia-Pacific | MB1 MUMBAI (METRO), INDIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 573,000 | |||
Buildings and Improvements | 28,457,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 484,000 | |||
Total Costs | ||||
Land | 573,000 | |||
Buildings and Improvements | 28,941,000 | |||
Accumulated Depreciation | (658,000) | |||
Asia-Pacific | MB2 MUMBAI (METRO), INDIA | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 0 | |||
Buildings and Improvements | 56,725,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 0 | |||
Buildings and Improvements | 1,315,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 58,040,000 | |||
Accumulated Depreciation | (1,331,000) | |||
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 | 538,000 | |||
Buildings and Improvements | 93,006,000 | |||
Total Costs | ||||
Land | 15,464,000 | |||
Buildings and Improvements | 93,006,000 | |||
Accumulated Depreciation | (29,361,000) | |||
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 | 102,610,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 102,610,000 | |||
Accumulated Depreciation | (7,310,000) | |||
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 | 124,000 | |||
Buildings and Improvements | 15,526,000 | |||
Total Costs | ||||
Land | 3,549,000 | |||
Buildings and Improvements | 99,701,000 | |||
Accumulated Depreciation | (23,979,000) | |||
Asia-Pacific | OS1 OSAKA (METRO), JAPAN | ||||
Initial Costs to Company | ||||
Encumbrances | 0 | |||
Land | 6,655,000 | |||
Buildings and Improvements | 4,094,000 | |||
Costs Capitalized Subsequent to Acquisition or Lease | ||||
Land | 240,000 | |||
Buildings and Improvements | 4,754,000 | |||
Total Costs | ||||
Land | 6,895,000 | |||
Buildings and Improvements | 8,847,000 | |||
Accumulated Depreciation | (2,882,000) | |||
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 | 104,213,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 119,089,000 | |||
Accumulated Depreciation | (42,667,000) | |||
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 | 199,271,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 199,271,000 | |||
Accumulated Depreciation | (7,274,000) | |||
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 | 49,000 | |||
Buildings and Improvements | 2,100,000 | |||
Total Costs | ||||
Land | 1,396,000 | |||
Buildings and Improvements | 3,437,000 | |||
Accumulated Depreciation | (596,000) | |||
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 | 17,390,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 33,717,000 | |||
Accumulated Depreciation | (8,124,000) | |||
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 | 56,004,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 56,004,000 | |||
Accumulated Depreciation | (4,000) | |||
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 | 291,489,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 291,489,000 | |||
Accumulated Depreciation | (133,905,000) | |||
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 | 339,887,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 339,887,000 | |||
Accumulated Depreciation | (232,450,000) | |||
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 | 239,648,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 274,492,000 | |||
Accumulated Depreciation | (71,579,000) | |||
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 | 146,113,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 200,715,000 | |||
Accumulated Depreciation | (17,748,000) | |||
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 | 197,620,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 197,620,000 | |||
Accumulated Depreciation | (4,016,000) | |||
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 | 7,290,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 7,290,000 | |||
Accumulated Depreciation | (3,562,000) | |||
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 | 14,596,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 21,662,000 | |||
Accumulated Depreciation | (8,140,000) | |||
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 | 24,662,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 35,946,000 | |||
Accumulated Depreciation | (17,322,000) | |||
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 | 37,873,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 54,418,000 | |||
Accumulated Depreciation | (6,124,000) | |||
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 | 37,580,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 66,816,000 | |||
Accumulated Depreciation | (12,612,000) | |||
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 | 86,206,000 | |||
Buildings and Improvements | 38,251,000 | |||
Total Costs | ||||
Land | 86,206,000 | |||
Buildings and Improvements | 38,251,000 | |||
Accumulated Depreciation | (24,756,000) | |||
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 | 28,268,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 31,348,000 | |||
Accumulated Depreciation | (24,941,000) | |||
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 | 150,497,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 159,209,000 | |||
Accumulated Depreciation | (91,013,000) | |||
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 | 184,417,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 184,417,000 | |||
Accumulated Depreciation | (55,173,000) | |||
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 | 2,948,000 | |||
Buildings and Improvements | 246,519,000 | |||
Total Costs | ||||
Land | 85,039,000 | |||
Buildings and Improvements | 246,519,000 | |||
Accumulated Depreciation | (15,090,000) | |||
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 | 319,000 | |||
Buildings and Improvements | 15,492,000 | |||
Total Costs | ||||
Land | 9,179,000 | |||
Buildings and Improvements | 79,689,000 | |||
Accumulated Depreciation | (13,191,000) | |||
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 | 99,000 | |||
Buildings and Improvements | 6,844,000 | |||
Total Costs | ||||
Land | 2,844,000 | |||
Buildings and Improvements | 54,194,000 | |||
Accumulated Depreciation | (9,078,000) | |||
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 | 500,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 1,573,000 | |||
Accumulated Depreciation | (1,149,000) | |||
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 | 35,993,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 35,993,000 | |||
Accumulated Depreciation | (22,284,000) | |||
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 | 93,532,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 93,532,000 | |||
Accumulated Depreciation | (66,919,000) | |||
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 | 77,305,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 77,305,000 | |||
Accumulated Depreciation | (44,811,000) | |||
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 | 78,446,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 78,446,000 | |||
Accumulated Depreciation | (36,604,000) | |||
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 | 61,821,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 61,923,000 | |||
Accumulated Depreciation | (20,456,000) | |||
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 | 17,821,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 55,762,000 | |||
Accumulated Depreciation | (37,344,000) | |||
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 | 6,280,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 19,455,000 | |||
Accumulated Depreciation | (14,370,000) | |||
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 | 12,625,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 66,472,000 | |||
Accumulated Depreciation | (30,152,000) | |||
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 | 23,644,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 130,354,000 | |||
Accumulated Depreciation | (83,055,000) | |||
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 | 15,220,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 85,102,000 | |||
Accumulated Depreciation | (28,348,000) | |||
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 | 221,004,000 | |||
Total Costs | ||||
Land | 0 | |||
Buildings and Improvements | 243,103,000 | |||
Accumulated Depreciation | $ (19,907,000) |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward] | |||
Balance, beginning of period | $ 20,161,785 | $ 16,927,332 | $ 15,020,198 |
ASC 842 adoption impact | 0 | 0 | (276,671) |
Additions (including acquisitions and improvements) | 2,977,992 | 3,110,907 | 2,632,472 |
Disposals | (648,516) | (446,864) | (463,485) |
Foreign currency transaction adjustments and others | (585,206) | 570,410 | 14,818 |
Balance, end of year | $ 21,906,055 | $ 20,161,785 | $ 16,927,332 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward] | |||
Balance, beginning of period | $ (6,399,477) | $ (5,329,182) | $ (4,517,016) |
ASC 842 adoption impact | 0 | 0 | (7,846) |
Additions (depreciation expense) | (1,224,874) | (1,036,452) | (926,046) |
Disposals | 149,231 | 109,230 | 128,352 |
Foreign currency transaction adjustments and others | 200,260 | (143,073) | (6,626) |
Balance, end of year | $ (7,274,860) | $ (6,399,477) | $ (5,329,182) |