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Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2024
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 millions):
| Three Months Ended March 31, 2024 |  |
| Americas |  | EMEA |  | Asia-Pacific |  | Total |  |  |  |  |  |  |  |
Colocation (1) | $ | 607 |  |  | $ | 549 |  |  | $ | 334 |  |  | $ | 1,490 |  |  |  |  |  |  |  |  |
Interconnection | 215 |  |  | 83 |  |  | 70 |  |  | 368 |  |  |  |  |  |  |  |  |
Managed infrastructure | 66 |  |  | 35 |  |  | 17 |  |  | 118 |  |  |  |  |  |  |  |  |
Other (1) | 6 |  |  | 24 |  |  | 4 |  |  | 34 |  |  |  |  |  |  |  |  |
Recurring revenues | 894 |  |  | 691 |  |  | 425 |  |  | 2,010 |  |  |  |  |  |  |  |  |
Non-recurring revenues | 45 |  |  | 36 |  |  | 36 |  |  | 117 |  |  |  |  |  |  |  |  |
Total | $ | 939 |  |  | $ | 727 |  |  | $ | 461 |  |  | $ | 2,127 |  |  |  |  |  |  |  |  |
(1) Includes some leasing and hedging activities.
| Three Months Ended March 31, 2023 |  |
| Americas |  | EMEA |  | Asia-Pacific |  | Total |  |  |  |  |  |  |  |
Colocation (1) | $ | 573 |  |  | $ | 516 |  |  | $ | 319 |  |  | $ | 1,408 |  |  |  |  |  |  |  |  |
Interconnection | 199 |  |  | 73 |  |  | 65 |  |  | 337 |  |  |  |  |  |  |  |  |
Managed infrastructure | 61 |  |  | 31 |  |  | 19 |  |  | 111 |  |  |  |  |  |  |  |  |
Other (1) | 5 |  |  | 25 |  |  | 4 |  |  | 34 |  |  |  |  |  |  |  |  |
Recurring revenues | 838 |  |  | 645 |  |  | 407 |  |  | 1,890 |  |  |  |  |  |  |  |  |
Non-recurring revenues | 44 |  |  | 46 |  |  | 18 |  |  | 108 |  |  |  |  |  |  |  |  |
Total | $ | 882 |  |  | $ | 691 |  |  | $ | 425 |  |  | $ | 1,998 |  |  |  |  |  |  |  |  |
(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 millions):
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Adjusted EBITDA: |  |  |  |  |  |  |
Americas | $ | 409 |  |  | $ | 405 |  |  |  |  |
EMEA | 328 |  |  | 327 |  |  |  |  |
Asia-Pacific | 255 |  |  | 213 |  |  |  |  |
Total adjusted EBITDA | 992 |  |  | 945 |  |  |  |  |
Depreciation, amortization and accretion expense | (525) |  |  | (459) |  |  |  |  |
Stock-based compensation expense | (101) |  |  | (99) |  |  |  |  |
Transaction costs | (2) |  |  | (2) |  |  |  |  |
Loss on asset sales | — |  |  | (1) |  |  |  |  |
Interest income | 24 |  |  | 19 |  |  |  |  |
Interest expense | (104) |  |  | (97) |  |  |  |  |
Other income (expense) | (6) |  |  | 8 |  |  |  |  |
Loss on debt extinguishment | (1) |  |  | — |  |  |  |  |
Income before income taxes | $ | 277 |  |  | $ | 314 |  |  |  |  |
Schedule of Segment Disclosures | We also provide the following segment disclosures related to our operations as follows (in millions):
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Depreciation and amortization: |  |  |  |  |  |  |
Americas | $ | 307 |  |  | $ | 245 |  |  |  |  |
EMEA | 132 |  |  | 124 |  |  |  |  |
Asia-Pacific | 87 |  |  | 88 |  |  |  |  |
Total | $ | 526 |  |  | $ | 457 |  |  |  |  |
Capital expenditures: |  |  |  |  |  |  |
Americas | $ | 425 |  |  | $ | 301 |  |  |  |  |
EMEA | 191 |  |  | 146 |  |  |  |  |
Asia-Pacific | 91 |  |  | 83 |  |  |  |  |
Total | $ | 707 |  |  | $ | 530 |  |  |  |  |
Schedule of Segment Long-Lived Assets | Our long-lived assets, including property, plant and equipment, net and operating lease right-of-use assets, are located in the following geographic areas (in millions):
| March 31, 2024 |  | December 31, 2023
Americas | $ | 8,722 |  |  | $ | 8,611 |
EMEA | 6,195 |  |  | 6,321 |
Asia-Pacific | 3,594 |  |  | 3,669 |
Total property, plant and equipment, net | $ | 18,511 |  |  | $ | 18,601 |
Americas | $ | 409 |  |  | $ | 421 |
EMEA | 353 |  |  | 368 |
Asia-Pacific | 633 |  |  | 660 |
Total operating lease right-of-use assets | $ | 1,395 |  |  | $ | 1,449 |

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