Segment Information

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Segment Information

Segment Information

While the Company has a single line of business, which is the design, build-out and operation of IBX data centers, it has determined that it has three reportable segments comprised of its Americas, EMEA and Asia-Pacific geographic regions. The Company’s chief operating decision-maker evaluates performance, makes operating decisions and allocates resources based on the Company’s revenue and adjusted EBITDA performance both on a consolidated basis and based on these three reportable segments. The Company defines adjusted EBITDA as income from operations plus depreciation, amortization, accretion, stock-based compensation expense, restructuring charges, impairment charges, acquisition costs and gains on asset sales as presented below (in thousands):

	Three months ended June 30,						Six months ended June 30,
	2016			2015			2016			2015
Adjusted EBITDA:
Americas	$	195,028		$	170,886		$	379,488		$	343,620
EMEA	133,455			79,533			244,944			155,564
Asia-Pacific	91,808			60,843			176,509			117,826
Total adjusted EBITDA	420,291			311,262			800,941			617,010
Depreciation, amortization and accretion expense	(213,719		)	(128,270		)	(415,872		)	(250,800		)
Stock-based compensation expense	(39,323		)	(33,993		)	(73,838		)	(64,606		)
Acquisition costs	(15,594		)	(9,866		)	(52,130		)	(11,022		)
Gains on asset sales	—			—			5,242			—
Income from continuing operations	$	151,655		$	139,133		$	264,343		$	290,582

The Company also provides the following additional segment disclosures (in thousands):

	Three months ended June 30,				Six months ended June 30,
	2016		2015		2016		2015
Total revenues:
Americas	$	413,471	$	371,447	$	817,865	$	735,416
EMEA	300,609		173,967		568,465		338,590
Asia-Pacific	186,430		120,168		358,336		234,750
	$	900,510	$	665,582	$	1,744,666	$	1,308,756
Total depreciation and amortization:
Americas	$	78,402	$	69,226	$	154,661	$	135,953
EMEA	82,504		27,633		158,554		54,140
Asia-Pacific	51,145		30,517		99,370		58,919
	$	212,051	$	127,376	$	412,585	$	249,012
Capital expenditures:
Americas	$	115,989	$	104,400	$	199,489	$	187,126
EMEA	86,582		56,927		143,855		84,483
Asia-Pacific	47,296		60,015		104,223		99,853
	$	249,867	$	221,342	$	447,567	$	371,462

The Company’s long-lived assets are located in the following geographic areas as of (in thousands):

	June 30, 2016		December 31, 2015
Americas	$	3,184,491	$	3,025,450
EMEA	2,220,500		1,157,304
Asia-Pacific	1,553,803		1,423,682
	$	6,958,794	$	5,606,436

Revenue information on a services basis is as follows (in thousands):

	Three months ended June 30,				Six months ended June 30,
	2016		2015		2016		2015
Colocation	$	662,669	$	496,610	$	1,282,562	$	978,155
Interconnection	135,721		104,661		262,926		206,319
Managed infrastructure	45,243		23,466		89,979		47,321
Other	8,138		1,954		13,398		4,553
Recurring revenues	851,771		626,691		1,648,865		1,236,348
Non-recurring revenues	48,739		38,891		95,801		72,408
	$	900,510	$	665,582	$	1,744,666	$	1,308,756

No single customer accounted for 10% or greater of the Company’s revenues for the three and six months ended June 30, 2016 and 2015. No single customer accounted for 10% or greater of the Company’s gross accounts receivable as of June 30, 2016 and December 31, 2015.