Segment Information

12 Months Ended

Dec. 31, 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 revenues and adjusted EBITDA performance both on a consolidated basis and these three reportable segments. The Company defines adjusted EBITDA as income or loss from operations plus depreciation, amortization, accretion, stock-based compensation expense, restructuring charges, impairment charges, acquisition costs, and gain on asset sales as presented below for the years ended December 31 (in thousands):

	2016			2015			2014
Adjusted EBITDA:
Americas	$	787,311		$	698,604		$	635,007
EMEA	494,263			318,561			269,222
Asia-Pacific	375,900			254,462			209,662
Total adjusted EBITDA	1,657,474			1,271,627			1,113,891
Depreciation, amortization and accretion expense	(843,510		)	(528,929		)	(484,129		)
Stock-based compensation expense	(156,148		)	(133,633		)	(117,990		)
Acquisitions costs	(64,195		)	(41,723		)	(2,506		)
Impairment charges	(7,698		)	—			—
Gain on asset sales	32,816			—			—
Income from operations	$	618,739		$	567,342		$	509,266

The Company provides the following segment disclosures related to its continuing operations as follows for the years ended December 31 (in thousands):

	2016		2015		2014
Total revenues:
Americas(1)	$	1,679,549	$	1,512,535	$	1,376,103
EMEA	1,171,339		698,807		637,265
Asia-Pacific	761,101		514,525		430,408
	$	3,611,989	$	2,725,867	$	2,443,776
Total depreciation and amortization:
Americas	$	319,202	$	278,216	$	261,018
EMEA	313,291		117,655		114,511
Asia-Pacific	204,714		129,709		106,162
	$	837,207	$	525,580	$	481,691
Capital expenditures:
Americas	$	503,855	$	401,685	$	333,315
EMEA	400,642		202,322		151,634
Asia-Pacific	208,868		264,113		175,254
	$	1,113,365	$	868,120	$	660,203

__________________________

(1) Includes revenues of $1,549,819, $1,404,648 and $1,257,661, respectively, attributed to the U.S. for the years ended December 31, 2016, 2015 and 2014.

The Company’s long-lived assets are located in the following geographic areas as of December 31 (in thousands):

	2016		2015
Americas (1)	$	3,339,518	$	3,025,450
EMEA	2,355,943		1,157,304
Asia-Pacific	1,503,749		1,423,682
	$	7,199,210	$	5,606,436

_________________________

(1) Includes $3,012,307 and $2,781,924, respectively, of long-lived assets attributed to the U.S. as of December 31, 2016 and 2015.

The following table presents revenue information on a service basis for the year ended December 31, 2016 and retrospective adjustments to revenue information on a services basis for the years ended December 31, 2015 and 2014 (in thousands):

	2016		2015		2014
Colocation	$	2,647,094	$	2,019,875	$	1,823,992
Interconnection	543,045		441,749		379,007
Managed infrastructure	210,292		96,836		104,455
Rental	16,943		10,681		10,336
Recurring revenues	3,417,374		2,569,141		2,317,790
Non-recurring revenues	194,615		156,726		125,986
	$	3,611,989	$	2,725,867	$	2,443,776