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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2022
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, 2022 |  | Six Months Ended June 30, 2022
| Americas |  | EMEA |  | Asia-Pacific |  | Total |  | Americas |  | EMEA |  | Asia-Pacific |  | Total
Colocation (1) | $ | 541,988 |  |  | $ | 433,339 |  |  | $ | 281,635 |  |  | $ | 1,256,962 |  |  | $ | 1,064,159 |  |  | $ | 847,908 |  |  | $ | 564,250 |  |  | $ | 2,476,317 |
Interconnection | 187,491 |  |  | 66,845 |  |  | 60,841 |  |  | 315,177 |  |  | 368,594 |  |  | 134,985 |  |  | 120,828 |  |  | 624,407 |
Managed infrastructure | 55,329 |  |  | 30,447 |  |  | 19,916 |  |  | 105,692 |  |  | 104,551 |  |  | 61,437 |  |  | 40,558 |  |  | 206,546 |
Other (1) | 5,581 |  |  | 22,048 |  |  | 1,991 |  |  | 29,620 |  |  | 10,715 |  |  | 28,462 |  |  | 3,328 |  |  | 42,505 |
Recurring revenues | 790,389 |  |  | 552,679 |  |  | 364,383 |  |  | 1,707,451 |  |  | 1,548,019 |  |  | 1,072,792 |  |  | 728,964 |  |  | 3,349,775 |
Non-recurring revenues | 40,475 |  |  | 46,522 |  |  | 22,706 |  |  | 109,703 |  |  | 83,266 |  |  | 76,889 |  |  | 41,671 |  |  | 201,826 |
Total | $ | 830,864 |  |  | $ | 599,201 |  |  | $ | 387,089 |  |  | $ | 1,817,154 |  |  | $ | 1,631,285 |  |  | $ | 1,149,681 |  |  | $ | 770,635 |  |  | $ | 3,551,601 |
(1) Includes some leasing and hedging activities.
| 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.
Schedule of adjusted EBITDA | We define adjusted EBITDA as net income excluding income tax expense, interest income, interest expense, other income or expense, gain or loss on debt extinguishment, 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,
| 2022 |  | 2021 |  | 2022 |  | 2021
Adjusted EBITDA: |  |  |  |  |  |  |
Americas | $ | 376,224 |  |  | $ | 325,924 |  |  | $ | 732,779 |  |  | $ | 670,416 |
EMEA | 295,382 |  |  | 262,526 |  |  | 555,727 |  |  | 506,089 |
Asia-Pacific | 188,726 |  |  | 208,827 |  |  | 371,538 |  |  | 394,004 |
Total adjusted EBITDA | 860,332 |  |  | 797,277 |  |  | 1,660,044 |  |  | 1,570,509 |
Depreciation, amortization and accretion expense | (432,828) |  |  | (417,758) |  |  | (869,214) |  |  | (812,076) |
Stock-based compensation expense | (104,682) |  |  | (94,335) |  |  | (194,634) |  |  | (172,685) |
Transaction costs | (5,063) |  |  | (6,985) |  |  | (9,303) |  |  | (8,167) |
Gain (loss) on asset sales | 94 |  |  | 455 |  |  | (1,724) |  |  | (1,265) |
Interest income | 4,508 |  |  | 374 |  |  | 6,614 |  |  | 1,103 |
Interest expense | (90,826) |  |  | (87,231) |  |  | (170,791) |  |  | (176,912) |
Other expense | (6,238) |  |  | (39,377) |  |  | (15,787) |  |  | (46,327) |
Gain (loss) on debt extinguishment | (420) |  |  | (102,460) |  |  | 109 |  |  | (115,518) |
Income before income taxes | $ | 224,877 |  |  | $ | 49,960 |  |  | $ | 405,314 |  |  | $ | 238,662 |
Segment disclosures | We also provide the following additional segment disclosures (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Depreciation and amortization: |  |  |  |  |  |  |
Americas | $ | 229,223 |  |  | $ | 222,134 |  |  | $ | 458,932 |  |  | $ | 425,567 |
EMEA | 115,619 |  |  | 115,162 |  |  | 230,673 |  |  | 225,941 |
Asia-Pacific | 88,428 |  |  | 78,945 |  |  | 179,005 |  |  | 159,750 |
Total | $ | 433,270 |  |  | $ | 416,241 |  |  | $ | 868,610 |  |  | $ | 811,258 |
Capital expenditures: |  |  |  |  |  |  |
Americas | $ | 225,102 |  |  | $ | 250,342 |  |  | $ | 410,148 |  |  | $ | 455,516 |
EMEA | 197,824 |  |  | 252,802 |  |  | 360,327 |  |  | 488,218 |
Asia-Pacific | 61,904 |  |  | 189,088 |  |  | 126,873 |  |  | 312,096 |
Total | $ | 484,830 |  |  | $ | 692,232 |  |  | $ | 897,348 |  |  | $ | 1,255,830 |
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, 2022 |  | December 31, 2021
Americas | $ | 7,012,690 |  |  | $ | 6,777,174 |
EMEA | 5,114,182 |  |  | 5,125,341 |
Asia-Pacific | 3,328,308 |  |  | 3,543,260 |
Total property, plant and equipment, net | $ | 15,455,180 |  |  | $ | 15,445,775 |
Americas | $ | 281,443 |  |  | $ | 297,300 |
EMEA | 438,353 |  |  | 470,330 |
Asia-Pacific | 733,437 |  |  | 514,788 |
Total operating lease right-of-use assets | $ | 1,453,233 |  |  | $ | 1,282,418 |

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