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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2021
Segment Reporting [Abstract] |
Schedule of revenue information disaggregated by service lines and geographic areas | The following tables present revenue information disaggregated by product lines and geographic areas, (in thousands):
| Three Months Ended June 30, 2021 |  | Six Months Ended June 30, 2021
| Americas |  | EMEA |  | Asia-Pacific |  | Total |  | Americas |  | EMEA |  | Asia-Pacific |  | Total
Colocation (1) | $ | 497,659 |  |  | $ | 398,703 |  |  | $ | 259,573 |  |  | $ | 1,155,935 |  |  | $ | 985,118 |  |  | $ | 786,978 |  |  | $ | 514,131 |  |  | $ | 2,286,227 |
Interconnection | 167,618 |  |  | 65,258 |  |  | 54,898 |  |  | 287,774 |  |  | 332,505 |  |  | 126,908 |  |  | 108,080 |  |  | 567,493 |
Managed infrastructure | 40,734 |  |  | 31,176 |  |  | 22,094 |  |  | 94,004 |  |  | 79,219 |  |  | 63,287 |  |  | 44,843 |  |  | 187,349 |
Other (1) | 451 |  |  | 3,682 |  |  | 616 |  |  | 4,749 |  |  | 2,489 |  |  | 8,728 |  |  | 1,109 |  |  | 12,326 |
Recurring revenues | 706,462 |  |  | 498,819 |  |  | 337,181 |  |  | 1,542,462 |  |  | 1,399,331 |  |  | 985,901 |  |  | 668,163 |  |  | 3,053,395 |
Non-recurring revenues | 44,181 |  |  | 39,110 |  |  | 32,166 |  |  | 115,457 |  |  | 77,252 |  |  | 70,745 |  |  | 52,591 |  |  | 200,588 |
Total | $ | 750,643 |  |  | $ | 537,929 |  |  | $ | 369,347 |  |  | $ | 1,657,919 |  |  | $ | 1,476,583 |  |  | $ | 1,056,646 |  |  | $ | 720,754 |  |  | $ | 3,253,983 |
(1) Includes some leasing and hedging activities.
| Three Months Ended June 30, 2020 |  | Six Months Ended June 30, 2020
| Americas |  | EMEA |  | Asia-Pacific |  | Total |  | Americas |  | EMEA |  | Asia-Pacific |  | Total
Colocation (1) | $ | 447,498 |  |  | $ | 381,144 |  |  | $ | 228,803 |  |  | $ | 1,057,445 |  |  | $ | 898,452 |  |  | $ | 743,474 |  |  | $ | 449,896 |  |  | $ | 2,091,822 |
Interconnection | 153,387 |  |  | 50,904 |  |  | 45,140 |  |  | 249,431 |  |  | 304,316 |  |  | 99,445 |  |  | 87,811 |  |  | 491,572 |
Managed infrastructure | 28,889 |  |  | 29,012 |  |  | 22,150 |  |  | 80,051 |  |  | 54,418 |  |  | 59,149 |  |  | 43,974 |  |  | 157,541 |
Other (1) | 5,081 |  |  | 6,130 |  |  | — |  |  | 11,211 |  |  | 10,301 |  |  | 8,596 |  |  | — |  |  | 18,897 |
Recurring revenues | 634,855 |  |  | 467,190 |  |  | 296,093 |  |  | 1,398,138 |  |  | 1,267,487 |  |  | 910,664 |  |  | 581,681 |  |  | 2,759,832 |
Non-recurring revenues | 26,564 |  |  | 20,900 |  |  | 24,519 |  |  | 71,983 |  |  | 55,837 |  |  | 56,335 |  |  | 42,659 |  |  | 154,831 |
Total | $ | 661,419 |  |  | $ | 488,090 |  |  | $ | 320,612 |  |  | $ | 1,470,121 |  |  | $ | 1,323,324 |  |  | $ | 966,999 |  |  | $ | 624,340 |  |  | $ | 2,914,663 |
(1) Includes some leasing and hedging activities.
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 (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Adjusted EBITDA: |  |  |  |  |  |  |
Americas | $ | 325,924 |  |  | $ | 302,107 |  |  | $ | 670,416 |  |  | $ | 595,720 |
EMEA | 262,526 |  |  | 243,597 |  |  | 506,089 |  |  | 473,755 |
Asia-Pacific | 208,827 |  |  | 174,337 |  |  | 394,004 |  |  | 334,776 |
Total adjusted EBITDA | 797,277 |  |  | 720,041 |  |  | 1,570,509 |  |  | 1,404,251 |
Depreciation, amortization and accretion expense | (417,758) |  |  | (348,434) |  |  | (812,076) |  |  | (685,865) |
Stock-based compensation expense | (94,335) |  |  | (75,844) |  |  | (172,685) |  |  | (156,410) |
Transaction costs | (6,985) |  |  | (13,617) |  |  | (8,167) |  |  | (25,147) |
Gain (loss) on asset sales | 455 |  |  | 342 |  |  | (1,265) |  |  | (857) |
Income from operations | $ | 278,654 |  |  | $ | 282,488 |  |  | $ | 576,316 |  |  | $ | 535,972 |
Segment disclosures | We also provide the following additional segment disclosures (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Depreciation and amortization: |  |  |  |  |  |  |
Americas | $ | 222,134 |  |  | $ | 180,934 |  |  | $ | 425,567 |  |  | $ | 352,008 |
EMEA | 115,162 |  |  | 93,012 |  |  | 225,941 |  |  | 185,386 |
Asia-Pacific | 78,945 |  |  | 74,647 |  |  | 159,750 |  |  | 147,068 |
Total | $ | 416,241 |  |  | $ | 348,593 |  |  | $ | 811,258 |  |  | $ | 684,462 |
Capital expenditures: |  |  |  |  |  |  |
Americas | $ | 250,342 |  |  | $ | 181,913 |  |  | $ | 455,516 |  |  | $ | 366,314 |
EMEA | 252,802 |  |  | 197,264 |  |  | 488,218 |  |  | 319,392 |
Asia-Pacific | 189,088 |  |  | 102,771 |  |  | 312,096 |  |  | 197,183 |
Total | $ | 692,232 |  |  | $ | 481,948 |  |  | $ | 1,255,830 |  |  | $ | 882,889 |
Segment long-lived assets | Our long-lived assets, including property, plant and equipment, net and operating lease right-of-use assets, located in the following geographic areas as of (in thousands):
| June 30, 2021 |  | December 31, 2020
Americas | $ | 6,703,341 |  |  | $ | 6,429,861 |
EMEA | 5,040,609 |  |  | 5,002,271 |
Asia-Pacific | 3,399,948 |  |  | 3,070,952 |
Total Property, plant and equipment, net | $ | 15,143,898 |  |  | $ | 14,503,084 |
Americas | $ | 326,240 |  |  | $ | 363,515 |
EMEA | 502,244 |  |  | 547,547 |
Asia-Pacific | 543,310 |  |  | 563,995 |
Total Operating lease right-of-use assets | $ | 1,371,794 |  |  | $ | 1,475,057 |

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