XML 72 R32.htm IDEA: XBRL DOCUMENT
v3.22.2

Stockholders' Equity (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Equity [Abstract] |
Schedule of rollforward of stockholders' equity | The following tables provide a rollforward of our stockholders' equity for the three months ended June 30, 2022 and 2021 (in thousands, except share and per share data):
|  |  |  |  |  |  |  |  |  |  |  |  | AOCI (Loss) |  | Retained Earnings |  | Equinix Stockholders' Equity |  | Non-controlling Interests |  | Total Stockholders' Equity
| Common Stock |  | Treasury Stock |  | Additional Paid-in Capital |  | Accumulated Dividends |  |  |  |  |
| Shares |  | Amount |  | Shares |  | Amount |  |  |  |  |  |  |
Balance as of December 31, 2021 | 90,872,826 |  |  | $ | 91 |  |  | (301,420) |  |  | $ | (112,208) |  |  | $ | 15,984,597 |  |  | $ | (6,165,140) |  |  | $ | (1,085,751) |  |  | $ | 2,260,493 |  |  | $ | 10,882,082 |  |  | $ | (318) |  |  | $ | 10,881,764 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 147,453 |  |  | 147,453 |  |  | 240 |  |  | 147,693 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 32,837 |  |  | — |  |  | 32,837 |  |  | 3 |  |  | 32,840 |
Issuance of common stock and release of treasury stock for employee equity awards | 430,973 |  |  | — |  |  | 11,445 |  |  | 4,259 |  |  | 39,617 |  |  | — |  |  | — |  |  | — |  |  | 43,876 |  |  | — |  |  | 43,876 |
Dividend distribution on common stock, $3.10 per share | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (282,031) |  |  | — |  |  | — |  |  | (282,031) |  |  | — |  |  | (282,031) |
Settlement of accrued dividends on vested equity awards | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (497) |  |  | — |  |  | — |  |  | (497) |  |  | — |  |  | (497) |
Accrued dividends on unvested equity awards | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2,045) |  |  | — |  |  | — |  |  | (2,045) |  |  | — |  |  | (2,045) |
Stock-based compensation, net of estimated forfeitures | — |  |  | — |  |  | — |  |  | — |  |  | 121,210 |  |  | — |  |  | — |  |  | — |  |  | 121,210 |  |  | — |  |  | 121,210 |
Balance as of March 31, 2022 | 91,303,799 |  |  | 91 |  |  | (289,975) |  |  | (107,949) |  |  | 16,145,424 |  |  | (6,449,713) |  |  | (1,052,914) |  |  | 2,407,946 |  |  | 10,942,885 |  |  | (75) |  |  | 10,942,810 |
Net income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 216,322 |  |  | 216,322 |  |  | (80) |  |  | 216,242 |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (365,842) |  |  | — |  |  | (365,842) |  |  | (35) |  |  | (365,877) |
Issuance of common stock and release of treasury stock | 36,682 |  |  | — |  |  | 24,609 |  |  | 9,157 |  |  | 4,882 |  |  | — |  |  | — |  |  | — |  |  | 14,039 |  |  | — |  |  | 14,039 |
Dividend distribution on common stock, $3.10 per share | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (282,168) |  |  | — |  |  | — |  |  | (282,168) |  |  | — |  |  | (282,168) |
Settlement of accrued dividends on vested equity awards | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (57) |  |  | — |  |  | — |  |  | (57) |  |  | — |  |  | (57) |
Accrued dividends on unvested equity awards | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4,400) |  |  | — |  |  | — |  |  | (4,400) |  |  | — |  |  | (4,400) |
Stock-based compensation, net of estimated forfeitures | — |  |  | — |  |  | — |  |  | — |  |  | 109,005 |  |  | — |  |  | — |  |  | — |  |  | 109,005 |  |  | — |  |  | 109,005 |
Balance as of June 30, 2022 | 91,340,481 |  |  | $ | 91 |  |  | (265,366) |  |  | $ | (98,792) |  |  | $ | 16,259,311 |  |  | $ | (6,736,338) |  |  | $ | (1,418,756) |  |  | $ | 2,624,268 |  |  | $ | 10,629,784 |  |  | $ | (190) |  |  | $ | 10,629,594 |
|  |  |  |  |  |  |  |  | Additional Paid-in Capital |  | Accumulated Dividends |  | AOCI (Loss) |  | Retained Earnings |  | Equinix Stockholders' Equity |  | Non-controlling interests |  | Total Stockholders' Equity
| Common Stock |  | Treasury Stock |  |  |  |  |  |  |
| Shares |  | Amount |  | Shares |  | Amount |  |  |  |  |  |  |
Balance as of December 31, 2020 | 89,462,304 |  |  | $ | 89 |  |  | (328,052) |  |  | $ | (122,118) |  |  | $ | 15,028,357 |  |  | $ | (5,119,274) |  |  | $ | (913,368) |  |  | $ | 1,760,302 |  |  | $ | 10,633,988 |  |  | $ | 130 |  |  | $ | 10,634,118 |
Net income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 156,362 |  |  | 156,362 |  |  | (288) |  |  | 156,074 |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (95,480) |  |  | — |  |  | (95,480) |  |  | (1) |  |  | (95,481) |
Issuance of common stock and release of treasury stock for employee equity awards | 428,618 |  |  | 1 |  |  | 11,640 |  |  | 4,332 |  |  | 35,701 |  |  | — |  |  | — |  |  | — |  |  | 40,034 |  |  | — |  |  | 40,034 |
Dividend distribution on common stock, $2.87 per share | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (256,321) |  |  | — |  |  | — |  |  | (256,321) |  |  | — |  |  | (256,321) |
Settlement of accrued dividends on vested equity awards | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (437) |  |  | — |  |  | — |  |  | (437) |  |  | — |  |  | (437) |
Accrued dividends on unvested equity awards | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (3,661) |  |  | — |  |  | — |  |  | (3,661) |  |  | — |  |  | (3,661) |
Stock-based compensation, net of estimated forfeitures | — |  |  | — |  |  | — |  |  | — |  |  | 102,349 |  |  | — |  |  | — |  |  | — |  |  | 102,349 |  |  | — |  |  | 102,349 |
Balance as of March 31, 2021 | 89,890,922 |  |  | 90 |  |  | (316,412) |  |  | (117,786) |  |  | 15,166,407 |  |  | (5,379,693) |  |  | (1,008,848) |  |  | 1,916,664 |  |  | 10,576,834 |  |  | (159) |  |  | 10,576,675 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 68,339 |  |  | 68,339 |  |  | 148 |  |  | 68,487 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 67,734 |  |  | — |  |  | 67,734 |  |  | 11 |  |  | 67,745 |
Issuance of common stock and release of treasury stock for employee equity awards | 36,674 |  |  | — |  |  | 1,389 |  |  | 516 |  |  | (516) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Issuance of common stock under ATM Program | 137,604 |  |  | — |  |  | — |  |  | — |  |  | 99,599 |  |  | — |  |  | — |  |  | — |  |  | 99,599 |  |  | — |  |  | 99,599 |
Dividend distribution on common stock, $2.87 per share | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (257,199) |  |  | — |  |  | — |  |  | (257,199) |  |  | — |  |  | (257,199) |
Settlement of accrued dividends on vested equity awards | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (55) |  |  | — |  |  | — |  |  | (55) |  |  | — |  |  | (55) |
Accrued dividends on unvested equity awards | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4,016) |  |  | — |  |  | — |  |  | (4,016) |  |  | — |  |  | (4,016) |
Stock-based compensation, net of estimated forfeitures | — |  |  | — |  |  | — |  |  | — |  |  | 95,236 |  |  | — |  |  | — |  |  | — |  |  | 95,236 |  |  | — |  |  | 95,236 |
Balance as of June 30, 2021 | 90,065,200 |  |  | $ | 90 |  |  | (315,023) |  |  | $ | (117,270) |  |  | $ | 15,360,726 |  |  | $ | (5,640,963) |  |  | $ | (941,114) |  |  | $ | 1,985,003 |  |  | $ | 10,646,472 |  |  | $ | — |  |  | $ | 10,646,472 |
Schedule of changes in accumulated other comprehensive loss | The changes in accumulated other comprehensive loss, net of tax, by components are as follows (in thousands):
| Balance as of December 31, 2021 |  | Net Change |  |  |  | Balance as of June 30, 2022
Foreign currency translation adjustment ("CTA") loss | $ | (1,068,399) |  |  | $ | (862,930) |  |  |  |  | $ | (1,931,329) |
Unrealized gain (loss) on cash flow hedges (1) | (6,590) |  |  | 84,654 |  |  |  |  | 78,064 |
Net investment hedge CTA gain (loss) (1) | (9,952) |  |  | 445,311 |  |  |  |  | 435,359 |
Net actuarial loss on defined benefit plans (2) | (810) |  |  | (40) |  |  |  |  | (850) |
Accumulated other comprehensive loss attributable to Equinix | $ | (1,085,751) |  |  | $ | (333,005) |  |  |  |  | $ | (1,418,756) |
(1)Refer to Note 7 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income. (2)We have two defined benefit pension plans covering all employees in two countries where such plan is mandated by law.
Schedule of stock-based compensation expense by operating expense category | The following table presents, by operating expense category, our stock-based compensation expense recognized in our condensed consolidated statements of operations (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Cost of revenues | $ | 11,878 |  |  | $ | 10,008 |  |  | $ | 22,321 |  |  | $ | 18,475 |
Sales and marketing | 23,171 |  |  | 20,779 |  |  | 43,355 |  |  | 38,482 |
General and administrative | 69,633 |  |  | 63,548 |  |  | 128,958 |  |  | 115,728 |
Total | $ | 104,682 |  |  | $ | 94,335 |  |  | $ | 194,634 |  |  | $ | 172,685 |

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669686-108580 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21463-112644 + Details
Name: | us-gaap_ScheduleOfStockholdersEquityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration