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Segment Information (Tables) | 9 Months Ended
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Sep. 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 September 30, 2021 |  | Nine Months Ended September 30, 2021
| Americas |  | EMEA |  | Asia-Pacific |  | Total |  | Americas |  | EMEA |  | Asia-Pacific |  | Total
Colocation (1) | $ | 504,711 |  |  | $ | 400,395 |  |  | $ | 259,092 |  |  | $ | 1,164,198 |  |  | $ | 1,489,829 |  |  | $ | 1,187,373 |  |  | $ | 773,223 |  |  | $ | 3,450,425 |
Interconnection | 168,511 |  |  | 65,809 |  |  | 56,789 |  |  | 291,109 |  |  | 501,016 |  |  | 192,717 |  |  | 164,869 |  |  | 858,602 |
Managed infrastructure | 43,313 |  |  | 31,445 |  |  | 21,572 |  |  | 96,330 |  |  | 122,532 |  |  | 94,732 |  |  | 66,415 |  |  | 283,679 |
Other (1) | 4,757 |  |  | 5,639 |  |  | 1,583 |  |  | 11,979 |  |  | 7,246 |  |  | 14,367 |  |  | 2,692 |  |  | 24,305 |
Recurring revenues | 721,292 |  |  | 503,288 |  |  | 339,036 |  |  | 1,563,616 |  |  | 2,120,623 |  |  | 1,489,189 |  |  | 1,007,199 |  |  | 4,617,011 |
Non-recurring revenues | 41,761 |  |  | 41,939 |  |  | 27,860 |  |  | 111,560 |  |  | 119,013 |  |  | 112,684 |  |  | 80,451 |  |  | 312,148 |
Total | $ | 763,053 |  |  | $ | 545,227 |  |  | $ | 366,896 |  |  | $ | 1,675,176 |  |  | $ | 2,239,636 |  |  | $ | 1,601,873 |  |  | $ | 1,087,650 |  |  | $ | 4,929,159 |
(1) Includes some leasing and hedging activities.
| Three Months Ended September 30, 2020 |  | Nine Months Ended September 30, 2020
| Americas |  | EMEA |  | Asia-Pacific |  | Total |  | Americas |  | EMEA |  | Asia-Pacific |  | Total
Colocation (1) | $ | 450,030 |  |  | $ | 391,773 |  |  | $ | 236,762 |  |  | $ | 1,078,565 |  |  | $ | 1,348,482 |  |  | $ | 1,135,247 |  |  | $ | 686,658 |  |  | $ | 3,170,387 |
Interconnection | 156,677 |  |  | 55,700 |  |  | 48,565 |  |  | 260,942 |  |  | 460,993 |  |  | 155,145 |  |  | 136,376 |  |  | 752,514 |
Managed infrastructure | 28,954 |  |  | 30,690 |  |  | 22,614 |  |  | 82,258 |  |  | 83,372 |  |  | 89,839 |  |  | 66,588 |  |  | 239,799 |
Other (1) | 3,911 |  |  | 5,581 |  |  | 815 |  |  | 10,307 |  |  | 14,212 |  |  | 14,177 |  |  | 815 |  |  | 29,204 |
Recurring revenues | 639,572 |  |  | 483,744 |  |  | 308,756 |  |  | 1,432,072 |  |  | 1,907,059 |  |  | 1,394,408 |  |  | 890,437 |  |  | 4,191,904 |
Non-recurring revenues | 32,760 |  |  | 34,339 |  |  | 20,596 |  |  | 87,695 |  |  | 88,597 |  |  | 90,674 |  |  | 63,255 |  |  | 242,526 |
Total | $ | 672,332 |  |  | $ | 518,083 |  |  | $ | 329,352 |  |  | $ | 1,519,767 |  |  | $ | 1,995,656 |  |  | $ | 1,485,082 |  |  | $ | 953,692 |  |  | $ | 4,434,430 |
(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 September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Adjusted EBITDA: |  |  |  |  |  |  |
Americas | $ | 321,768 |  |  | $ | 290,550 |  |  | $ | 992,184 |  |  | $ | 886,270 |
EMEA | 267,553 |  |  | 263,216 |  |  | 773,642 |  |  | 736,971 |
Asia-Pacific | 196,977 |  |  | 183,479 |  |  | 590,981 |  |  | 518,255 |
Total adjusted EBITDA | 786,298 |  |  | 737,245 |  |  | 2,356,807 |  |  | 2,141,496 |
Depreciation, amortization and accretion expense | (419,684) |  |  | (362,286) |  |  | (1,231,760) |  |  | (1,048,151) |
Stock-based compensation expense | (94,710) |  |  | (75,248) |  |  | (267,395) |  |  | (231,658) |
Impairment charges | — |  |  | (7,306) |  |  | — |  |  | (7,306) |
Transaction costs | (5,197) |  |  | (5,840) |  |  | (13,364) |  |  | (30,987) |
Gain on asset sales | 15,414 |  |  | 1,785 |  |  | 14,149 |  |  | 928 |
Income from operations | $ | 282,121 |  |  | $ | 288,350 |  |  | $ | 858,437 |  |  | $ | 824,322 |
Segment disclosures | We also provide the following additional segment disclosures (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Depreciation and amortization: |  |  |  |  |  |  |
Americas | $ | 218,749 |  |  | $ | 182,537 |  |  | $ | 644,316 |  |  | $ | 534,545 |
EMEA | 114,494 |  |  | 100,861 |  |  | 340,435 |  |  | 286,247 |
Asia-Pacific | 85,688 |  |  | 77,290 |  |  | 245,438 |  |  | 224,358 |
Total | $ | 418,931 |  |  | $ | 360,688 |  |  | $ | 1,230,189 |  |  | $ | 1,045,150 |
Capital expenditures: |  |  |  |  |  |  |
Americas | $ | 246,497 |  |  | $ | 237,737 |  |  | $ | 702,013 |  |  | $ | 604,051 |
EMEA | 277,124 |  |  | 249,310 |  |  | 765,342 |  |  | 568,702 |
Asia-Pacific | 154,656 |  |  | 78,238 |  |  | 466,752 |  |  | 275,421 |
Total | $ | 678,277 |  |  | $ | 565,285 |  |  | $ | 1,934,107 |  |  | $ | 1,448,174 |
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):
| September 30, 2021 |  | December 31, 2020
Americas | $ | 6,703,449 |  |  | $ | 6,429,861 |
EMEA | 5,117,439 |  |  | 5,002,271 |
Asia-Pacific | 3,486,161 |  |  | 3,070,952 |
Total property, plant and equipment, net | $ | 15,307,049 |  |  | $ | 14,503,084 |
Americas | $ | 313,589 |  |  | $ | 363,515 |
EMEA | 478,418 |  |  | 547,547 |
Asia-Pacific | 533,865 |  |  | 563,995 |
Total operating lease right-of-use assets | $ | 1,325,872 |  |  | $ | 1,475,057 |

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