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Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2023
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 March 31, 2023
|  |  |  |  |  |  |  |  | Americas |  | EMEA |  | Asia-Pacific |  | Total
Colocation (1) |  |  |  |  |  |  |  |  | $ | 574,098 |  |  | $ | 515,611 |  |  | $ | 318,705 |  |  | $ | 1,408,414 |
Interconnection |  |  |  |  |  |  |  |  | 198,639 |  |  | 72,606 |  |  | 65,562 |  |  | 336,807 |
Managed infrastructure |  |  |  |  |  |  |  |  | 60,860 |  |  | 31,424 |  |  | 18,963 |  |  | 111,247 |
Other (1) |  |  |  |  |  |  |  |  | 4,872 |  |  | 25,200 |  |  | 3,540 |  |  | 33,612 |
Recurring revenues |  |  |  |  |  |  |  |  | 838,469 |  |  | 644,841 |  |  | 406,770 |  |  | 1,890,080 |
Non-recurring revenues |  |  |  |  |  |  |  |  | 43,906 |  |  | 46,376 |  |  | 17,847 |  |  | 108,129 |
Total |  |  |  |  |  |  |  |  | $ | 882,375 |  |  | $ | 691,217 |  |  | $ | 424,617 |  |  | $ | 1,998,209 |
(1) Includes some leasing and hedging activities.
|  |  | Three Months Ended March 31, 2022
|  |  |  |  |  |  |  |  | Americas |  | EMEA |  | Asia-Pacific |  | Total
Colocation (1) |  |  |  |  |  |  |  |  | $ | 522,171 |  |  | $ | 414,569 |  |  | $ | 282,615 |  |  | $ | 1,219,355 |
Interconnection |  |  |  |  |  |  |  |  | 181,103 |  |  | 68,140 |  |  | 59,987 |  |  | 309,230 |
Managed infrastructure |  |  |  |  |  |  |  |  | 49,222 |  |  | 30,990 |  |  | 20,642 |  |  | 100,854 |
Other (1) |  |  |  |  |  |  |  |  | 5,134 |  |  | 6,414 |  |  | 1,337 |  |  | 12,885 |
Recurring revenues |  |  |  |  |  |  |  |  | 757,630 |  |  | 520,113 |  |  | 364,581 |  |  | 1,642,324 |
Non-recurring revenues |  |  |  |  |  |  |  |  | 42,791 |  |  | 30,367 |  |  | 18,965 |  |  | 92,123 |
Total |  |  |  |  |  |  |  |  | $ | 800,421 |  |  | $ | 550,480 |  |  | $ | 383,546 |  |  | $ | 1,734,447 |
(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 March 31,
|  |  |  |  | 2023 |  | 2022
Adjusted EBITDA: |  |  |  |  |  |  |
Americas |  |  |  |  | $ | 405,087 |  |  | $ | 356,555 |
EMEA |  |  |  |  | 326,513 |  |  | 260,345 |
Asia-Pacific |  |  |  |  | 212,683 |  |  | 182,812 |
Total adjusted EBITDA |  |  |  |  | 944,283 |  |  | 799,712 |
Depreciation, amortization and accretion expense |  |  |  |  | (458,995) |  |  | (436,386) |
Stock-based compensation expense |  |  |  |  | (98,715) |  |  | (89,952) |
Transaction costs |  |  |  |  | (1,600) |  |  | (4,240) |
Loss on asset sales |  |  |  |  | (852) |  |  | (1,818) |
Interest income |  |  |  |  | 19,388 |  |  | 2,106 |
Interest expense |  |  |  |  | (97,481) |  |  | (79,965) |
Other income (expense) |  |  |  |  | 7,503 |  |  | (9,549) |
Gain on debt extinguishment |  |  |  |  | 254 |  |  | 529 |
Income before income taxes |  |  |  |  | $ | 313,785 |  |  | $ | 180,437 |
Schedule of Segment Disclosures | We also provide the following additional segment disclosures (in thousands):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2023 |  | 2022
Depreciation and amortization: |  |  |  |  |  |  |
Americas |  |  |  |  | $ | 244,714 |  |  | $ | 229,709 |
EMEA |  |  |  |  | 124,017 |  |  | 115,054 |
Asia-Pacific |  |  |  |  | 88,369 |  |  | 90,577 |
Total |  |  |  |  | $ | 457,100 |  |  | $ | 435,340 |
Capital expenditures: |  |  |  |  |  |  |
Americas |  |  |  |  | $ | 300,675 |  |  | $ | 185,046 |
EMEA |  |  |  |  | 145,820 |  |  | 162,503 |
Asia-Pacific |  |  |  |  | 83,105 |  |  | 64,969 |
Total |  |  |  |  | $ | 529,600 |  |  | $ | 412,518 |
Schedule of 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):
| March 31, 2023 |  | December 31, 2022
Americas | $ | 7,706,923 |  |  | $ | 7,532,125 |
EMEA | 5,727,022 |  |  | 5,577,498 |
Asia-Pacific | 3,479,789 |  |  | 3,539,911 |
Total property, plant and equipment, net | $ | 16,913,734 |  |  | $ | 16,649,534 |
Americas | $ | 252,022 |  |  | $ | 263,148 |
EMEA | 450,460 |  |  | 440,139 |
Asia-Pacific | 701,234 |  |  | 724,663 |
Total operating lease right-of-use assets | $ | 1,403,716 |  |  | $ | 1,427,950 |

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