XML 32 R12.htm IDEA: XBRL DOCUMENT
v3.22.4

Leases | 12 Months Ended
--- | ---
Dec. 31, 2022
Leases |
Leases | 4. Leases Lessor Accounting We generate the majority of our revenue by leasing our operating properties to customers under operating lease agreements. The manner in which we recognize these transactions in our financial statements is described in Note 2. “Summary of Significant Accounting Policies—Revenue Recognition” to these consolidated financial statements. ​ A summary of minimum lease payments due from our customers under operating leases of land, prestabilized development properties, and operating properties with lease periods of greater than one year at December 31, 2022 (in thousands) is shown below. These amounts do not reflect future rental revenues from renewal or replacement of existing leases unless we are reasonably certain we will exercise the option or the lessee has the sole ability to exercise the option. Reimbursements of operating expenses and variable rent increases are excluded from the table below. ​
​ | ​ | ​ | ​
​ |  | Operating leases
2023 | ​ | $ | 2,835,319
2024 | ​ |  | 2,215,332
2025 | ​ |  | 1,803,357
2026 | ​ |  | 1,454,495
2027 | ​ |  | 1,113,265
Thereafter | ​ |  | 3,670,829
Total | ​ | $ | 13,092,597
​ Lessee Accounting ​ We lease space and equipment at certain of our data centers from third parties under noncancelable lease agreements. Leases for our data centers expire on various dates through 2069. Certain of our data centers, primarily in Europe and Singapore, are subject to ground leases. As of December 31, 2022, the termination dates of these ground leases ranged from 2027 to 2108. In addition, our corporate headquarters along with several regional office locations are subject to leases with termination dates ranging from 2023 to 2033. ​ The leases generally require us to make fixed rental payments that increase at defined intervals during the term of the lease plus pay our share of common area, real estate and utility expenses as incurred. The leases do not contain residual value guarantees and do not impose material restrictions or covenants on us. Further, the leases have been classified and accounted for as either operating or finance leases. Rent expense related to operating leases included in rental property operating and maintenance expense in the consolidated income statements amounted to approximately $144.0 million, $145.7 million and $120.5 million for the years ended December 31, 2022, 2021 and 2020, respectively. ​ As of December 31, 2022, the weighted average remaining lease term for our operating leases and finance leases was 12 years and 16 years, respectively. We do not include renewal options in the lease term for calculating the lease liability unless we are reasonably certain we will exercise the option or the lessor has the sole ability to exercise the option. The weighted average incremental borrowing rate was 3.0% for operating leases and 1.8% for finance leases at December 31, 2022. We assigned a collateralized interest rate to each lease based on the term of the lease and the currency in which the lease is denominated. ​ ​ ​ Maturities of lease liabilities as of December 31, 2022 were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Operating |  | Finance
​ | ​ | lease liabilities | ​ | lease liabilities (1)
2023 | ​ | $ | 190,279 | ​ | $ | 36,905
2024 | ​ |  | 193,379 | ​ |  | 20,423
2025 | ​ |  | 195,002 | ​ |  | 20,468
2026 | ​ |  | 191,457 | ​ |  | 20,516
2027 | ​ |  | 187,873 | ​ |  | 21,003
Thereafter | ​ |  | 840,640 | ​ |  | 281,633
Total undiscounted future cash flows | ​ |  | 1,798,630 | ​ |  | 400,948
Less: Imputed interest | ​ |  | (327,586) | ​ |  | (75,720)
Present value of undiscounted future cash flows | ​ | $ | 1,471,044 | ​ | $ | 325,228
(1) Included in accounts payable and other accrued liabilities on the consolidated balance sheet.

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

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration