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. |