Leases

Capital Lease and Other Financing Obligations

Amsterdam 5 ("AM5") Data Center

In May 2017, the Company entered into an agreement to acquire the land and building for the AM5 IBX data center for cash consideration of €26.7 million or $30.4 million at the exchange rate in effect on June 30, 2017. The Company had previously leased this IBX data center. As a result of the purchase, the prior lease was effectively terminated and the lease liability was settled in full. The Company settled the financing lease obligation of AM5 data center for €20.0 million or approximately $22.8 million and recognized a loss on debt extinguishment of €7.2 million or approximately $8.2 million. The fair value allocated to the ground lease was €6.7 million or $7.6 million was recorded as other assets and will be amortized through December 2054.

Hong Kong 5 ("HK5") Data Center

In January 2017, the Company entered into an agreement for certain elements of the construction of Hong Kong 5 Data Center. The terms of the construction agreement triggered the Company to be, in substance, the owner of the asset during the construction phase. The Company has accounted for the construction and related agreements as a build-to-suit arrangement. As of September 30, 2017, the Company recorded a financing liability totaling approximately 565.2 million Hong Kong dollars, or $72.4 million at the exchange rate in effect as of September 30, 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 (3 months remaining)	$	21,758		$	23,065		$	44,823
2018	93,791			100,966			194,757
2019	87,022			87,789			174,811
2020	87,170			87,636			174,806
2021	87,443			89,294			176,737
Thereafter	882,047			973,777			1,855,824
Total minimum lease payments	1,259,231			1,362,527			2,621,758
Plus amount representing residual property value	—			537,219			537,219
Less amount representing interest	(538,584		)	(948,004		)	(1,486,588		)
Present value of net minimum lease payments	720,647			951,742			1,672,389
Less current portion	(30,043		)	(30,158		)	(60,201		)
Total	$	690,604		$	921,584		$	1,612,188

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