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NONCONTROLLING INTERESTS | 9 Months Ended
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Sep. 30, 2025
Noncontrolling Interest [Abstract] |
NONCONTROLLING INTERESTS | NONCONTROLLING INTERESTS European Interests—As of September 30, 2025, ATC Europe consists of the Company’s operations in France, Germany and Spain. The Company currently holds a 52% controlling interest in ATC Europe, with Caisse de dépôt et placement du Québec (“La Caisse”) and Allianz insurance companies and funds managed by Allianz Capital Partners GmbH, including the Allianz European Infrastructure Fund (collectively, “Allianz”) holding 30% and 18% noncontrolling interests, respectively. ATC Europe holds a 100% interest in the subsidiaries that consist of the Company’s operations in France and an 87% and an 83% controlling interest in the subsidiaries that consist of the Company’s operations in Germany and Spain, respectively, with PGGM holding a 13% and a 17% noncontrolling interest in each respective subsidiary. Bangladesh Partnership—In 2021, the Company acquired a 51% controlling interest in Kirtonkhola Tower Bangladesh Limited (“KTBL”). Confidence Group holds a 49% noncontrolling interest in KTBL. Stonepeak Transaction—In 2022, the Company entered into agreements pursuant to which certain investment vehicles affiliated with Stonepeak Partners LP (such investment vehicles, collectively, “Stonepeak”) acquired a noncontrolling ownership interest in the Company’s U.S. data center business, through an investment in common equity and mandatorily convertible preferred equity. As of September 30, 2025, the Company holds a common equity interest of approximately 71% in its U.S. data center business, with Stonepeak holding approximately 29% of the outstanding common equity and 100% of the outstanding mandatorily convertible preferred equity. On a fully converted basis, which is expected to occur four years from August 2022, and on the basis of the currently outstanding equity, the Company will hold a controlling ownership interest of approximately 64%, with Stonepeak holding approximately 36%. The mandatorily convertible preferred equity, which accrues dividends at 5.0%, will convert into common equity on a one for one basis, subject to adjustment that will be measured upon conversion. Dividends to noncontrolling interests—Certain of the Company’s subsidiaries may, from time to time, declare dividends. During the nine months ended September 30, 2025, the Company’s U.S. data center business declared distributions of $34.5 million related to the outstanding Stonepeak mandatorily convertible preferred equity (the “Stonepeak Preferred Distributions”). As of September 30, 2025, the amount accrued for Stonepeak Preferred Distributions was $11.6 million. Beginning in January 2024, pursuant to the terms of the ownership agreement with Stonepeak, on a quarterly basis, the Company’s U.S. data center business will distribute common dividends to the Company and to Stonepeak in proportion to their respective equity interests in the Company’s U.S. data center business (the “Stonepeak Common Dividend”). During the nine months ended September 30, 2025, the Company’s U.S. data center business declared and paid distributions of $51.4 million, related to the Stonepeak Common Dividend. During the nine months ended September 30, 2025, pursuant to the terms of the ownership agreements, ATC Europe C.V., one of the Company’s subsidiaries in the Netherlands, declared and paid a dividend of 70.9 million EUR (approximately $82.1 million at the date of payment) to the Company, La Caisse and Allianz in proportion to their respective equity interests in ATC Europe C.V. During the nine months ended September 30, 2025, pursuant to the terms of the ownership agreements, AT Iberia C.V., one of the Company’s subsidiaries in Spain, declared and paid a dividend of 87.3 million EUR (approximately $101.1 million at the date of payment) to ATC Europe and PGGM in proportion to their respective equity interests in AT Iberia C.V. The changes in noncontrolling interests were as follows:
|  | Nine Months Ended September 30, |  |
|  | 2025 |  | 2024 |  |
Balance as of January 1, |  | $ | 6,266.5 |  |  | $ | 6,667.2 |  |  |
Net income attributable to noncontrolling interests |  | 82.9 |  |  | 24.3 |  |  |
Foreign currency translation adjustment attributable to noncontrolling interests, net of tax |  | 456.4 |  |  | 23.5 |  |  |
Contributions from noncontrolling interest holders (1) |  | 148.1 |  |  | 153.6 |  |  |
Distributions to noncontrolling interest holders |  | (140.7) |  |  | (317.4) |  |  |
Balance as of September 30, |  | $ | 6,813.2 |  |  | $ | 6,551.2 |  |  |
_______________ (1)Nine months ended September 30, 2025 primarily includes contributions from Stonepeak. Nine months ended September 30, 2024 includes contributions from Stonepeak of $137.3 million, including a noncash contribution of $37.5 million made in lieu of Stonepeak’s receipt of the Stonepeak Common Dividend and a noncash contribution from PGGM of $12.4 million made in lieu of PGGM’s receipt of a distribution.

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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/810/tableOfContent + Details
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- References No definition available. + Details
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