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Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
While we have one primary line of business, which is the design, build-out and operation of IBX data centers, we have determined that we have three reportable segments comprised of our Americas, EMEA and Asia-Pacific geographic regions. Each of our three reportable segments are managed by regional presidents and require unique strategies due to the varying microeconomic and macroeconomic conditions within each region. Our chief executive officer is our chief operating decision maker and evaluates performance, makes operating decisions and allocates resources primarily based on our revenues and adjusted EBITDA, both on a consolidated basis and for these three reportable segments. Intercompany transactions between segments are excluded for management reporting purposes. Revenues are attributed to countries based on the geographic location of the entity that enters into the contract.
We define adjusted EBITDA, our measure of segment profit or loss, as net income excluding income tax expense, interest income, interest expense, other income or expense, gain or loss on debt extinguishment, depreciation, amortization, accretion, stock-based compensation expense, restructuring and other exit charges, impairment charges, transaction costs and gain or loss on asset sales. The accounting policies of the three segments are the same as those described in the summary of significant accounting policies, except that segment expenses exclude depreciation, amortization and accretion expense and stock-based compensation expense, consistent with the definition of adjusted EBITDA.
The following tables present segment information, including revenue information disaggregated by product lines and segment adjusted EBITDA, and a reconciliation to total consolidated income before income taxes (in millions):
Three Months Ended March 31, 2026
AmericasEMEAAsia-PacificTotal
Colocation (1)
$731 $613 $386 $1,730 
Interconnection251 106 89 446 
Managed infrastructure57 41 17 115 
Other (1)
7 29 4 40 
Recurring revenues1,046 789 496 2,331 
Non-recurring revenues45 38 30 113 
Total revenues (2)
1,091 827 526 2,444 
Less:
Segment cost of revenues303 307 155 765 
Other segment items (3)
272 96 66 434 
Segment adjusted EBITDA$516 $424 $305 $1,245 
Reconciliation to income before income taxes:
Depreciation, amortization and accretion expense$(544)
Stock-based compensation expense(128)
Transaction costs(8)
Restructuring and other exit charges(6)
Impairment charges(2)
Gain (loss) on asset sales20 
Interest income41 
Interest expense(148)
Other income (expense)1 
Income before income taxes$471 
(1)Includes some leasing and hedging activities.
(2)Total revenues attributed to the U.S. were $935 million during the three months ended March 31, 2026. There was no other country from which we derived revenues that exceeded 10% of our total revenues and no single customer accounted for 10% or greater of our accounts receivable or revenues as at or for the three months ended March 31, 2026.
(3)Other segment items for each reportable segment are comprised of general and administrative and sales and marketing expenses, excluding stock-based compensation expense and depreciation, amortization and accretion expense.
Three Months Ended March 31, 2025
AmericasEMEAAsia-PacificTotal
Colocation (1)
$636 $567 $342 $1,545 
Interconnection229 87 77 393 
Managed infrastructure63 35 17 115 
Other (1)
3 27 4 34 
Recurring revenues931 716 440 2,087 
Non-recurring revenues70 27 41 138 
Total revenues (2)
1,001 743 481 2,225 
Less:
Segment cost of revenues290 281 156 727 
Other segment items (3)
268 97 66 431 
Segment adjusted EBITDA$443 $365 $259 $1,067 
Reconciliation to income before income taxes:
Depreciation, amortization and accretion expense$(480)
Stock-based compensation expense(113)
Transaction costs(6)
Restructuring and other exit charges(10)
Interest income47 
Interest expense(122)
Other income (expense)9 
Income before income taxes$392 
(1)Includes some leasing and hedging activities.
(2)Total revenues attributed to the U.S. were $873 million during the three months ended March 31, 2025. There was no other country from which we derived revenues that exceeded 10% of our total revenues and no single customer accounted for 10% or greater of our accounts receivable or revenues as at or for the three months ended March 31, 2025.
(3)Other segment items for each reportable segment are comprised of general and administrative and sales and marketing expenses, excluding stock-based compensation expense and depreciation, amortization and accretion expense.
 We provide the following additional segment disclosures for the three months ended March 31, 2026 and 2025 (in millions):
 Three Months Ended
March 31,
 20262025
Depreciation and amortization:
Americas$287 $269 
EMEA149 123 
Asia-Pacific105 87 
Total$541 $479 
Capital expenditures:
Americas$705 $501 
EMEA329 171 
Asia-Pacific222 78 
Total$1,256 $750 
Our long-lived assets, including property, plant and equipment, net and operating lease right-of-use assets, were located in the following geographic regions (in millions):
Property, plant and equipment, netOperating lease right-of-use assets
March 31,
2026		December 31, 2025March 31,
2026		December 31, 2025
Americas$11,185 $10,840 $327 $340 
EMEA8,437 8,314 433 449 
Asia-Pacific4,547 4,430 585 603 
Total$24,169 $23,584 $1,345 $1,392