Leases

Capital Lease and Other Financing Obligations

Hong Kong 5 ("HK5")

In January 2017, the Company entered into an agreement for certain elements of the construction of the Company's fifth data center in Hong Kong ("HK5"). The terms of the construction agreement triggered the Company to be, in substance, the owner of the asset during the construction phase. Additionally, the Company believes that it will likely fail the sales lease back test due to its continued involvement and therefore has accounted for the construction and related agreements as a build to suit arrangement. As of March 31, 2017, the Company recorded a financing liability totaling approximately 516.4 million in Hong Kong dollars, or $66.4 million at the exchange rate in effect as of March 31, 2017.

Maturities of Capital Lease and Other Financing Obligations

The Company's capital lease and other financing obligations are summarized as follows (in thousands):



	Capital Lease Obligations			Other Financing Obligations ⁽¹⁾			Total
2017 (9 months remaining)	$	62,824		$	63,110		$	125,934
2018	83,910			86,813			170,723
2019	84,686			81,333			166,019
2020	84,714			80,524			165,238
2021	84,950			81,871			166,821
Thereafter	836,023			939,125			1,775,148
Total minimum lease payments	1,237,107			1,332,776			2,569,883
Plus amount representing residual property value	—			561,089			561,089
Less amount representing interest	(540,729		)	(967,732		)	(1,508,461		)
Present value of net minimum lease payments	696,378			926,133			1,622,511
Less current portion	(28,031		)	(71,171		)	(99,202		)
Total	$	668,347		$	854,962		$	1,523,309

⁽¹⁾Other financing obligations are primarily build-to-suit lease obligations.