XML 30 R12.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Investments in Unconsolidated Joint Ventures | 3 Months Ended
--- | ---
Mar. 31, 2018
Equity Method Investments and Joint Ventures [Abstract] |
Investments in Unconsolidated Joint Ventures | Investments in Unconsolidated Joint Ventures As of March 31, 2018, our investments in unconsolidated joint ventures consist of effective 50% interests in four joint ventures that own data center buildings in Seattle, Hong Kong, Tokyo and Osaka, 20% interests in two joint ventures, one of which owns 10 data center properties with an investment fund managed by Prudential Real Estate Investors (PREI®) and the other which owns one data center property with an affiliate of Griffin Capital Essential Asset REIT, Inc. (GCEAR), and a 17% interest in a joint venture that owns a data center property in Silicon Valley. The Osaka/Tokyo joint venture was formed on November 1, 2017. The following tables present summarized financial information for our joint ventures as of March 31, 2018 and December 31, 2017 and for the three months ended March 31, 2018 and 2017 (unaudited, in thousands):
| As of March 31, 2018 |  | Three Months Ended March 31, 2018
2018 | Net Investment in Properties |  | Total Assets |  | Debt |  | Total Liabilities |  | Equity |  | Revenues |  | Property Operating Expense |  | Net Operating Income |  | Net Income
Total Unconsolidated Joint Ventures | $ | 1,053,058 |  |  | $ | 1,361,412 |  |  | $ | 726,234 |  |  | $ | 846,918 |  |  | $ | 514,494 |  |  | $ | 51,731 |  |  | $ | (18,419 | ) |  | $ | 33,312 |  |  | $ | 15,334 |
Our investment in and share of equity in earnings of unconsolidated joint ventures |  |  |  |  |  |  |  |  | $ | 167,564 |  |  |  |  |  |  |  |  | $ | 7,410 |
| As of December 31, 2017 |  | Three Months Ended March 31, 2017
2017 | Net Investment in Properties |  | Total Assets |  | Debt |  | Total Liabilities |  | Equity |  | Revenues |  | Property Operating Expense |  | Net Operating Income |  | Net Income
Total Unconsolidated Joint Ventures | $ | 1,061,950 |  |  | $ | 1,375,006 |  |  | $ | 712,690 |  |  | $ | 869,879 |  |  | $ | 505,127 |  |  | $ | 35,062 |  |  | $ | (10,391 | ) |  | $ | 24,671 |  |  | $ | 11,286 |
Our investment in and share of equity in earnings of unconsolidated joint ventures |  |  |  |  |  |  |  |  | $ | 163,477 |  |  |  |  |  |  |  |  | $ | 5,324 |
The amounts reflected in the tables above, except for our investment in and share of equity in earnings of unconsolidated joint ventures, are based on the historical financial information of the individual joint ventures. The debt of our unconsolidated joint ventures generally are non-recourse to us, except for customary exceptions pertaining to such matters as intentional misuse of funds, environmental conditions, and material misrepresentations. Differences between the Company’s investment in the joint ventures and the amount of the underlying equity in net assets of the joint ventures are due to basis differences resulting from the Company’s equity investment recorded at its historical basis versus the fair value of the Company’s contributed interest in the joint ventures. Our proportionate share of the earnings or losses related to these unconsolidated joint ventures is reflected as equity in earnings of unconsolidated joint ventures on the accompanying condensed consolidated income statements.

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 The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
Name: | us-gaap_EquityMethodInvestmentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration