XML 44 R30.htm IDEA: XBRL DOCUMENT v3.10.0.1
Acquisitions (Tables)
12 Months Ended
Dec. 31, 2018
Business Combinations [Abstract]  
Business acquisition, pro forma information
 
 
(Unaudited)
Year Ended December 31,
 
 
2016(1)
 
2017(2)
 
2018(2)
Total Revenues
 
$
3,763,929

 
$
3,983,016

 
$
4,229,251

Income (Loss) from Continuing Operations
 
$
138,954

 
$
124,385

 
$
386,928

Per Share Income (Loss) from Continuing Operations - Basic
 
$
0.53

 
$
0.43

 
$
1.35

Per Share Income (Loss) from Continuing Operations - Diluted
 
$
0.53

 
$
0.43

 
$
1.35


______________________________________________________________________________
(1)
The Pro Forma Financial Information for the year ended December 31, 2016 only reflect the pro forma results of us and Recall.
(2)
The Pro Forma Financial Information for the years ended December 31, 2017 and 2018 only reflect pro forma results of us and IODC as Recall was included in our actual financial results for the years ended December 31, 2017 and 2018.
Schedule of recognized identified assets acquired and liabilities assumed
A summary of the cumulative consideration paid and the allocation of the purchase price paid for all of our acquisitions in each respective year is as follows:
 
 
2016
 
2017
 
2018
 
 
Recall
 
Other Fiscal Year 2016 Acquisitions
 
Total
 
Total
 
IODC Transaction
 
Other Fiscal Year 2018 Acquisitions
 
Total
Cash Paid (gross of cash acquired)(1)
 
$
331,834

 
$
37,350

 
$
369,184

 
$
234,314

 
$
1,347,046

 
$
432,078

 
$
1,779,124

Purchase Price Holdbacks and Other(2)
 

 

 

 
20,093

 

 
35,218

 
35,218

Fair Value of Common Stock Issued
 
1,835,026

 

 
1,835,026

 
83,014

 

 

 

Fair Value of Noncontrolling Interests
 

 
3,506

 
3,506

 
1,507

 

 

 

Total Consideration
 
2,166,860

 
40,856

 
2,207,716

 
338,928

 
1,347,046

 
467,296

 
1,814,342

Fair Value of Identifiable Assets Acquired:
 
 
 
 
 
 

 
 
 
 
 
 
 
 
Cash
 
76,461

 
576

 
77,037

 
14,746

 
34,307

 
10,227

 
44,534

Accounts Receivable and Prepaid Expenses
 
176,775

 
2,703

 
179,478

 
19,309

 
7,070

 
13,076

 
20,146

Fair Value of Recall Divestments(3)
 
121,689

 

 
121,689

 

 

 

 

Other Assets
 
57,563

 
541

 
58,104

 
5,070

 

 
4,586

 
4,586

Property, Plant and Equipment(4)
 
622,063

 
10,963

 
633,026

 
150,878

 
863,027

 
225,848

 
1,088,875

Customer Relationship Intangible Assets(5)
 
709,139

 
20,842

 
729,981

 
116,028

 

 
44,622

 
44,622

Data Center In-Place Leases(6)
 

 

 

 
6,300

 
104,340

 
36,130

 
140,470

Data Center Tenant Relationships(7)
 

 

 

 

 
77,362

 
18,410

 
95,772

Data Center Above-Market Leases(8)
 

 

 

 

 
16,439

 
2,381

 
18,820

Other Intangible Assets
 

 

 

 
14,487

 

 

 

Debt Assumed
 
(792,385
)
 

 
(792,385
)
 
(5,287
)
 

 
(12,312
)
 
(12,312
)
Accounts Payable, Accrued Expenses and Other Liabilities
 
(276,814
)
 
(11,504
)
 
(288,318
)
 
(24,869
)
 
(36,230
)
 
(17,206
)
 
(53,436
)
Deferred Income Taxes
 
(164,074
)
 
(2,985
)
 
(167,059
)
 
(18,122
)
 

 
(43,218
)
 
(43,218
)
Data Center Below-Market Leases(8)
 

 

 

 

 
(11,421
)
 
(694
)
 
(12,115
)
Total Fair Value of Identifiable Net Assets Acquired
 
530,417

 
21,136

 
551,553

 
278,540

 
1,054,894

 
281,850

 
1,336,744

Goodwill Initially Recorded(9)
 
$
1,636,443

 
$
19,720

 
$
1,656,163

 
$
60,388

 
$
292,152

 
$
185,446

 
$
477,598

_______________________________________________________________________________

(1)
Included in cash paid for acquisitions in the Consolidated Statement of Cash Flows for the year ended December 31, 2016 is net cash acquired of $77,037 and cash received of $182 related to acquisitions made in years prior to 2016. Included in cash paid for acquisitions in the Consolidated Statement of Cash Flows for the year ended December 31, 2017 is net cash acquired of $14,746 and contingent and other payments, net of $137 related to acquisitions made in years prior to 2017. Included in cash paid for acquisitions in the Consolidated Statement of Cash Flows for the year ended December 31, 2018 is net cash acquired of $44,534 and contingent and other payments, net of $23,967 related to acquisitions made in years prior to 2018.
(2)
Purchase price holdbacks and other includes $16,771 purchase price accrued for the Santa Fe China Transaction in 2017 and includes $18,824 purchase price accrued for the EvoSwitch Transaction in 2018.
(3)
Represents the fair value, less costs to sell, of the Initial United States Divestments, the Seattle/Atlanta Divestments, the Recall Canadian Divestments and the UK Divestments.
(4)
Consists primarily of buildings, building improvements, leasehold improvements, data center infrastructure, racking structures, warehouse equipment and computer hardware and software.
(5)
The weighted average lives of customer relationship intangible assets associated with acquisitions in 2016, 2017 and 2018 was 13 years, 12 years and 10 years, respectively.
(6)
The weighted average lives of data center in-place leases associated with acquisitions in 2018 was 6 years.
(7)
The weighted average lives of data center tenant relationships associated with acquisitions in 2018 was 9 years.
(8)
The weighted average lives of data center above-market leases associated with acquisitions in 2018 was 3 years and the weighted average lives of data center below-market leases associated with acquisitions in 2018 was 7 years.
(9)
The goodwill associated with acquisitions, including Recall and IODC, is primarily attributable to the assembled workforce, expanded market opportunities and costs and other operating synergies anticipated upon the integration of the operations of us and the acquired businesses.