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2318301 - Disclosure - Balance Sheet Components (Tables)
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Table(Implied)
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Reporting Entity [Axis]0001101239 (http://www.sec.gov/CIK)
Organization, Consolidation and Presentation of Financial Statements [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Organization, Consolidation and Presentation of Financial Statements [Abstract]
 
Cash, Cash Equivalents and Short-Term and Long-Term Investments
Cash, cash equivalents and short-term and long-term investments consisted of the following as of December 31 (in thousands):
 
2016
 
2015
Cash and cash equivalents:
 
 
 
Cash (1)
$
345,119

 
$
1,139,554

Cash equivalents:
 
 
 
Money market funds
400,388

 
1,089,284

Certificate of deposit
2,969

 
—

Total cash and cash equivalents
748,476

 
2,228,838

Marketable securities:
 
 
 
Certificates of deposit
6,988

 
14,106

Publicly traded equity securities
6,463

 
3,353

Total marketable securities
13,451

 
17,459

Total cash, cash equivalents and short-term and long-term investments
$
761,927

 
$
2,246,297

_________________________
(1)Excludes restricted cash.
  
Summary of Cost and Estimated Fair Value of Marketable Securities
The following table summarizes the cost and estimated fair value of marketable debt securities based on stated effective maturities as of December 31 (in thousands):
 
2016
 
2015
 
Amortized Cost
 
Fair Value
 
Amortized Cost
 
Fair Value
Due within one year
$
3,409

 
$
3,409

 
$
12,875

 
$
12,875

Due after one year through three years
3,579

 
3,579

 
1,231

 
1,231

Total
$
6,988

 
$
6,988

 
$
14,106

 
$
14,106

  
Net Unrealized Gains (Losses) on Available-for-Sale Securities
As of December 31, 2016, the Company’s net unrealized gains (losses) on its available-for-sale securities were comprised of the following (in thousands):
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
Certificates of deposit
$
6,988

 
$
—

 
$
—

 
$
6,988

Publicly traded equity securities
4,850

 
1,613

 
—

 
6,463

Total
$
11,838

 
$
1,613

 
$
—

 
$
13,451

As of December 31, 2015, the Company’s net unrealized gains (losses) on its available-for-sale securities were comprised of the following (in thousands):
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
Certificates of deposit
$
14,106

 
$
—

 
$
—

 
$
14,106

Publicly traded equity securities
3,561

 
—

 
(208
)
 
3,353

Total
$
17,667

 
$
—

 
$
(208
)
 
$
17,459

  
Accounts Receivable, Net
Accounts receivable, net, consisted of the following as of December 31 (in thousands):
 
2016
 
2015
Accounts receivable
$
411,920

 
$
302,316

Allowance for doubtful accounts
(15,675
)
 
(10,352
)
Accounts receivable, net
$
396,245

 
$
291,964

  
Activities of Allowance for Doubtful Accounts
The following table summarizes the activity of the Company’s allowance for doubtful accounts (in thousands):
Balance as of December 31, 2013
$
6,640

Provision for allowance for doubtful accounts
7,093

Net write-offs
(3,825
)
Impact of foreign currency exchange
(442
)
Balance as of December 31, 2014
9,466

Provision for allowance for doubtful accounts
5,037

Net write-offs
(3,438
)
Impact of foreign currency exchange
(713
)
Balance as of December 31, 2015
10,352

Provision for allowance for doubtful accounts
8,260

Net write-offs
(2,521
)
Impact of foreign currency exchange
(416
)
Balance as of December 31, 2016
$
15,675

  
Other Current Assets
Other current assets consisted of the following as of December 31 (in thousands):
 
2016
 
2015
Prepaid expenses
$
79,258

 
$
48,322

Taxes receivable
102,002

 
33,979

Other receivables
46,809

 
1,925

Derivative instruments
54,072

 
60,165

Other current assets
22,190

 
68,538

Total other current assets
$
304,331

 
$
212,929

  
Property, Plant and Equipment, Net
The Company’s estimated useful lives of its property, plant and equipment are as follows:
Core systems
3-25 years
Buildings
12-50 years
Leasehold improvements
12-40 years
Construction in progress
N/A
Personal Property
3-10 years
Property, plant and equipment, net consisted of the following as of December 31 (in thousands):
 
2016
 
2015
Core systems
$
4,760,868

 
$
3,820,772

Buildings
2,785,799

 
2,383,387

Leasehold improvements
1,599,424

 
1,204,900

Construction in progress
645,388

 
351,697

Personal property
622,069

 
450,914

Land
237,349

 
183,946

 
10,650,897

 
8,395,616

Less accumulated depreciation
(3,451,687
)
 
(2,789,180
)
Property, plant and equipment, net
$
7,199,210

 
$
5,606,436

  
Goodwill and Other Intangible Assets
The following table presents goodwill and other intangible assets, net, for the year ended December 31, 2016 and 2015 (in thousands):
 
2016
 
2015
Goodwill:
 
 
 
Americas
$
469,438

 
$
460,203

EMEA
2,281,306

 
374,070

Asia-Pacific
235,320

 
228,927

 
$
2,986,064

 
$
1,063,200

 
 
 
 
Intangible assets, net:
 
 
 
Intangible assets - customer contracts
$
839,593

 
$
326,493

Intangible assets - trade names
69,519

 
10,390

Intangible assets - favorable leases
38,139

 
7,871

Intangible assets - licenses
9,697

 
9,697

Intangible assets - others
19

 
3,101

 
956,967

 
357,552

Accumulated amortization - customer contracts
(183,270
)
 
(120,660
)
Accumulated amortization - trade names
(43,830
)
 
(4,303
)
Accumulated amortization - favorable leases
(8,027
)
 
(5,416
)
Accumulated amortization - licenses
(2,591
)
 
(1,942
)
Accumulated amortization - others
(18
)
 
(666
)
 
(237,736
)
 
(132,987
)
Total intangible assets, net
$
719,231

 
$
224,565

  
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, 2014
$
463,902

 
$
404,093

 
$
134,134

 
$
1,002,129

Purchase accounting adjustments
17,192

 
—

 
95,437

 
112,629

Asset held for sale adjustments
—

 
(5,000
)
 
—

 
(5,000
)
Impact of foreign currency exchange
(20,891
)
 
(25,023
)
 
(644
)
 
(46,558
)
Balance as of December 31, 2015
460,203

 
374,070

 
228,927

 
1,063,200

Purchase accounting adjustments - TelecityGroup
—

 
2,215,567

 
—

 
2,215,567

Purchase accounting adjustments - Paris IBX Data Center acquisition
—

 
48,835

 
—

 
48,835

Asset held for sale adjustments
—

 
1,605

 
—

 
1,605

Impact of foreign currency exchange
9,235

 
(358,771
)
 
6,393

 
(343,143
)
Balance as of December 31, 2016
$
469,438

 
$
2,281,306

 
$
235,320

 
$
2,986,064

  
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, 2013
$
76,224

 
$
82,709

 
$
25,249

 
$
184,182

Amortization of intangibles
(12,257
)
 
(12,795
)
 
(2,704
)
 
(27,756
)
Impact of foreign currency exchange
(1,013
)
 
(7,729
)
 
(157
)
 
(8,899
)
Balance as of December 31, 2014
62,954

 
62,185

 
22,388

 
147,527

Nimbo acquisition
1,089

 
—

 
—

 
1,089

Bit-isle acquisition
—

 
—

 
111,374

 
111,374

Asset held for sale adjustments
—

 
(784
)
 
—

 
(784
)
Write-off of intangible asset
—

 
(357
)
 
—

 
(357
)
Amortization of intangibles
(11,432
)
 
(11,675
)
 
(4,339
)
 
(27,446
)
Impact of foreign currency exchange
(1,968
)
 
(5,014
)
 
144

 
(6,838
)
Balance as of December 31, 2015
50,643

 
44,355

 
129,567

 
224,565

TelecityGroup acquisition
—

 
694,243

 
—

 
694,243

Paris IBX Data Center acquisition
—

 
11,758

 
—

 
11,758

Sale of Terra Power
—

 
—

 
(2,460
)
 
(2,460
)
Write-off of intangible asset
(573
)
 
—

 
—

 
(573
)
Amortization of intangibles
(11,348
)
 
(97,715
)
 
(13,799
)
 
(122,862
)
Impact of foreign currency exchange
1,395

 
(90,280
)
 
3,445

 
(85,440
)
Balance as of December 31, 2016
$
40,117

 
$
562,361

 
$
116,753

 
$
719,231

  
Estimated Future Amortization Expense Related to Intangibles
Estimated future amortization expense related to these intangibles is as follows (in thousands):
Years ending:
 
2017
$
98,178

2018
71,381

2019
67,056

2020
60,805

2021
53,044

Thereafter
368,767

Total
$
719,231

  
Other Assets
Other assets consisted of the following as of December 31 (in thousands):
 
2016
 
2015
Deferred tax assets, net
$
62,308

 
$
61,152

Prepaid expenses, non-current
80,888

 
54,372

Debt issuance costs, net
6,611

 
19,709

Deposits
40,893

 
33,132

Restricted cash, non-current
9,706

 
10,172

Derivative instruments
15,907

 
8,735

Other assets, non-current
9,985

 
11,358

Total other assets
$
226,298

 
$
198,630

  
Accounts Payable and Accrued Expenses
Accounts payable and accrued expenses consisted of the following as of December 31 (in thousands):
 
2016
 
2015
Accounts payable
$
60,211

 
$
49,892

Accrued compensation and benefits
172,808

 
131,204

Accrued interest
95,832

 
67,077

Accrued taxes(1)
133,562

 
37,004

Accrued utilities and security
44,202

 
31,789

Accrued professional fees
14,071

 
18,380

Accrued repairs and maintenance
5,430

 
3,618

Accrued other
55,623

 
61,984

Total accounts payable and accrued expenses
$
581,739

 
$
400,948

__________________________
(1)Includes income taxes payable of $44,048,000 and $14,527,000, respectively, as of December 31, 2016 and 2015.
  
Other Current Liabilities
Other current liabilities consisted of the following as of December 31 (in thousands):
 
2016
 
2015
Deferred installation revenue
$
61,399

 
$
56,055

Customer deposits
13,894

 
23,676

Derivative instruments
10,819

 
79,256

Deferred recurring revenue
18,704

 
12,515

Deferred rent
4,158

 
3,572

Dividends payable
11,999

 
13,674

Asset retirement obligations
10,036

 
—

Other current liabilities
2,131

 
3,538

Total other current liabilities
$
133,140

 
$
192,286

  
Other Liabilities
Other liabilities consisted of the following as of December 31 (in thousands):
 
2016
 
2015
Asset retirement obligations, non-current
$
92,979

 
$
78,482

Deferred tax liabilities, net
274,341

 
100,624

Deferred installation revenue, non-current
96,744

 
86,660

Deferred rent, non-current
76,566

 
68,787

Accrued taxes, non-current
56,208

 
26,763

Dividends payable, non-current
8,495

 
13,394

Customer deposits, non-current
4,773

 
4,701

Deferred recurring revenue, non-current
2,681

 
3,645

Derivative instruments
140

 
669

Other liabilities
10,321

 
6,688

Total other liabilities
$
623,248

 
$
390,413

  
Summary of Asset Retirement Obligation Liability
The following table summarizes the activities of the Company’s asset retirement obligation liability (in thousands):
Asset retirement obligations as of December 31, 2013
$
59,548

Additions
5,774

Adjustments (1)
(871
)
Accretion expense
2,438

Impact of foreign currency exchange
(2,031
)
Asset retirement obligations as of December 31, 2014
64,858

Additions
17,337

Adjustments (1)
(4,676
)
Accretion expense
3,349

Impact of foreign currency exchange
(2,386
)
Asset retirement obligations as of December 31, 2015
78,482

Additions
22,955

Adjustments (1)
(2,366
)
Accretion expense
6,685

Impact of foreign currency exchange
(2,741
)
Asset retirement obligations as of December 31, 2016
$
103,015

__________________________
(1)Reversal of asset retirement obligations associated with leases that were amended.