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Investments
3 Months Ended
Mar. 31, 2023
Investments, All Other Investments [Abstract]  
Investments INVESTMENTS
In April 2021, we closed on an agreement to form a joint venture (the "Web Werks JV") with the shareholders of Web Werks India Private Limited ("Web Werks"), a colocation data center provider in India. Through December 31, 2022, we made two investments totaling approximately 7,500,000 Indian rupees (or approximately $96,200, based upon the exchange rates between the United States dollar and Indian rupee on the closing date of each investment) in exchange for a noncontrolling interest in the form of convertible preference shares in the Web Werks JV. Under the terms of the original Web Werks JV shareholder agreement, we were required to make an additional investment of 3,750,000 Indian rupees by May 2023. In April 2023, the original Web Werks JV shareholder agreement was amended to extend the period by which the investment is required to be made to May 2024.
The following joint ventures are accounted for as equity method investments and are presented as a component of Other within Other assets, net in our Condensed Consolidated Balance Sheets. The carrying values and equity interests in our joint ventures at March 31, 2023 and December 31, 2022 are as follows:
MARCH 31, 2023
DECEMBER 31, 2022
CARRYING VALUEEQUITY INTERESTCARRYING VALUEEQUITY INTEREST
Web Werks JV
$98,637 53.58 %$98,278 53.58 %
Joint venture with AGC Equity Partners (the "Frankfurt JV")
36,579 20.00 %37,194 20.00 %
Joint venture with Clutter, Inc. (the "Clutter JV")50,712 26.73 %54,172 26.73 %
Additionally, we have a loan receivable with the Frankfurt JV of approximately $22,800, which is included as a component of Other within Other assets, net within our Condensed Consolidated Balance Sheet at March 31, 2023.