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Equity Method Investments (Tables) | 9 Months Ended
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Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Equity Method Investments | The following table summarizes our equity method investments, which were included in other assets on the condensed consolidated balance sheets (in millions):
Investee |  | Ownership Percentage |  | September 30, 2024 |  | December 31, 2023
EMEA 1 Joint Venture |  | 20% |  | $ | 148 |  |  | $ | 150 |
VIE Joint Ventures (1) |  | 20% |  | 387 |  |  | 308 |
Other |  | Various |  | 11 |  |  | 10 |
Total |  |  |  | $ | 546 |  |  | $ | 468 |
(1)Includes investments in the following xScale joint ventures in each of our three regions: "Asia-Pacific 1 Joint Venture", "Asia-Pacific 2 Joint Venture", "Asia-Pacific 3 Joint Venture", "EMEA 2 Joint Venture", "AMER 1 Joint Venture" and "AMER 2 Joint Venture" (defined below). These investments share a similar purpose, design and nature of assets.
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 September 30, 2024 (in millions):
|  | VIE Joint Ventures
Equity Investment |  | $ | 387 |
Outstanding Accounts Receivable |  | 78 |
Other Receivables |  | 40 |
Contract Assets |  | 103 |
Loan Commitment (1) |  | 392 |
Future Equity Contribution Commitments (2) |  | 64 |
Maximum Future Payments under Debt Guarantees (3) |  | 263 |
Total |  | $ | 1,327 |
(1)Concurrent with the closing of the AMER 2 Joint Venture, we entered into a loan agreement with the AMER 2 Joint Venture, as a lender, further discussed below. (2)The joint ventures' partners are required to make additional equity contributions proportionately upon certain occurrences, such as a shortfall in capital necessary to complete construction or to make interest payments on their outstanding debt. (3)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 relates to our AMER 1 Joint Venture (see Note 10). The following table presents the assets and liabilities of the Indonesian VIE, which were included in other assets and other liabilities on the condensed consolidated balance sheets (in millions):
Balance Sheet |  | September 30, 2024 |  | December 31, 2023
Cash and cash equivalents |  | $ | 21 |  |  | $ | 20 |
Property, plant and equipment, net |  | 22 |  |  | 8 |
Other |  | 5 |  |  | 2 |
Total assets |  | $ | 48 |  |  | $ | 30 |
Total liabilities |  | $ | 3 |  |  | $ | 3 |
Schedule of Other Related Party Transactions | The following table presents the income and expenses from these arrangements with the Joint Ventures in our condensed consolidated statements of operations (in millions):
|  |  |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Related Party |  | Nature of Transaction |  | 2024 |  | 2023 |  | 2024 |  | 2023
EMEA 1 Joint Venture |  | Income |  | $ | 7 |  |  | $ | 9 |  |  | $ | 19 |  |  | $ | 23 |
EMEA 1 Joint Venture |  | Expenses (1) |  | 4 |  |  | 5 |  |  | 11 |  |  | 13 |
VIE Joint Ventures (2) |  | Income (3) |  | 73 |  |  | 13 |  |  | 172 |  |  | 52 |
(1)Primarily consists of rent expenses for a sub-lease agreement with the EMEA 1 Joint Venture for a London data center with a remaining lease term of 15-years as of September 30, 2024. (2)Expenses from transactions with VIE Joint Ventures were insignificant for the three and nine months ended September 30, 2024 and 2023. (3)Primarily consists of revenues related to lease and services arrangements as described above and also includes interest income earned on the AMER 2 Loan during the three and nine months ended September 30, 2024 of $6 million and $11 million, respectively. We have also sold certain data center facilities to our Joint Ventures and recognized gains or losses on asset sales as described above. The following table presents the assets and liabilities from related party transactions with the Joint Ventures in our condensed consolidated balance sheets (in millions):
|  | EMEA 1 Joint Venture |  | VIE Joint Ventures
Balance Sheet |  | September 30, 2024 |  | December 31, 2023 |  | September 30, 2024 |  | December 31, 2023
Accounts receivable, net |  | $ | 14 |  |  | $ | 19 |  |  | $ | 78 |  |  | $ | 23 |
Other current assets (1) |  | 17 |  |  | 19 |  |  | 116 |  |  | 43 |
Property, plant and equipment, net (2) |  | 156 |  |  | 97 |  |  | 84 |  |  | 72 |
Operating lease right-of-use assets |  | 2 |  |  | 2 |  |  | 3 |  |  | 2 |
Other assets (3) |  | — |  |  | — |  |  | 225 |  |  | 21 |
Other current liabilities |  | 5 |  |  | 9 |  |  | 10 |  |  | 6 |
Finance lease liabilities |  | 175 |  |  | 111 |  |  | 88 |  |  | 75 |
Operating lease liabilities |  | 2 |  |  | 2 |  |  | 3 |  |  | 2 |
Other liabilities (4) |  | 51 |  |  | 50 |  |  | — |  |  | — |
(1)The balance primarily relates to contract assets and other receivables. (2)The balance relates to finance lease right-of-use assets. (3)As of September 30, 2024, the balance primarily relates to the AMER 2 Loan receivable. As of December 31, 2023, the balance primarily relates to contract assets and other receivables. (4)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.

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- 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
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