XML 68 R28.htm IDEA: XBRL DOCUMENT
v3.23.2

Equity Method Investments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Equity Method Investments | The following table summarizes our equity method investments (in thousands), which were included in other assets on the condensed consolidated balance sheets:
Investee |  | Ownership Percentage |  | June 30, 2023 |  | December 31, 2022
EMEA 1 Joint Venture with GIC |  | 20% |  | $ | 156,058 |  |  | $ | 148,895 |
VIE Joint Ventures |  | 20% |  | 230,385 |  |  | 191,680 |
Other |  | Various |  | 10,388 |  |  | 7,570 |
Total |  |  |  | $ | 396,831 |  |  | $ | 348,145 |
Schedule of The Maximum Exposure Losses of VIE Joint Ventures | The following table summarizes our maximum exposure to loss related to the VIE Joint Ventures as of June 30, 2023 (in thousands):
|  | VIE Joint Ventures
Equity Investment |  | $ | 230,385 |
Outstanding Receivables |  | 12,340 |
Future Equity Contribution Commitments (1) |  | 69,745 |
Maximum Future Payments under Debt Guarantees (2) |  | 114,067 |
Total |  | $ | 426,537 |
(1)The joint ventures' partners are required to make additional equity contributions proportionately upon certain occurrences, such as a shortfall in capital necessary to complete certain construction phases or make interest payments on their outstanding debt. (2)In connection with our 20% equity investment in the EMEA 2 Joint Venture, we provided the lenders with our guarantees covering 20% of all payments of principal and interest due under EMEA 2 Joint Venture's credit facility agreements. A portion of the guarantees related to our AMER 1 Joint Venture (see Note 11).
Schedule of Other Related Party Transactions | The following table presents the revenues and expenses from these arrangements with the Joint Ventures in our condensed consolidated statements of operations (in thousands):
|  |  |  | Three Months Ended June 30, |  | Six Months Ended June 30,
Related Party | Nature of Transaction |  | 2023 |  | 2022 |  | 2023 |  | 2022
EMEA 1 Joint Venture |  | Revenues |  | $ | 6,951 |  |  | $ | 18,880 |  |  | $ | 13,992 |  |  | $ | 25,182 |
EMEA 1 Joint Venture |  | Expenses (1) |  | 6,587 |  |  | (916) |  |  | 8,244 |  |  | 3,412 |
VIE Joint Ventures |  | Revenues |  | 17,264 |  |  | 13,185 |  |  | 39,067 |  |  | 20,187 |
(1)Balances primarily consist of rent expenses for a 15-year sub-lease agreement with the EMEA 1 Joint Venture for a London data center. The following table presents the assets and liabilities from related party transactions with the Joint Ventures in our condensed consolidated balance sheets (in thousands):
Related Party |  | Balance Sheet Line Item |  | June 30, 2023 |  | December 31, 2022
EMEA 1 Joint Venture |  | Receivables |  | $ | 26,568 |  |  | $ | 73,929 |
| Contract Assets |  | 7,407 |  |  | 7,261 |
| Finance Lease Right-of-Use Assets |  | $ | 101,672 |  |  | $ | 100,968 |
| Operating Lease Right-of-Use Assets |  | 1,511 |  |  | — |
| Other Liabilities and Payables |  | 40,736 |  |  | 1,193 |
| Operating Lease Right-of-Use Liabilities |  | 1,558 |  |  | — |
| Other Liabilities and Payables - Construction Obligation (1) |  | — |  |  | 18,967 |
| Deferred Revenue |  | 16,188 |  |  | 15,470 |
| Finance Lease Right-of-Use Liabilities |  | 112,315 |  |  | 108,603 |
VIE Joint Ventures |  | Receivables |  | 12,340 |  |  | 19,935 |
|  | Contract Assets |  | 25,237 |  |  | 5,281 |
|  | Operating Right of Use Assets |  | 1,226 |  |  | — |
|  | Deferred Revenue |  | 4,817 |  |  | — |
|  | Operating Right of Use Liabilities |  | 1,167 |  |  | — |
(1)The balance primarily relates to the obligation to pay for future construction for certain sites sold as a part of the EMEA 1 Joint Venture transaction.

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

X
- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
Name: | us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
Name: | us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-5A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-9 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-6 + Details
Name: | us-gaap_ScheduleOfVariableInterestEntitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration