XML 30 R14.htm IDEA: XBRL DOCUMENT v3.8.0.1
Leases
 3 Months Ended
Mar. 31, 2018
Leases [Abstract]  
Leases
Leases
Capital Lease and Other Financing Obligations
Stockholm 2 ("SK2") Data Center
In March 2018, the Company acquired the land and building for the SK2 IBX data center for cash consideration of SEK457.9 million or approximately $54.9 million at the exchange rate in effect on March 31, 2018. The Company had previously accounted for SK2 as a build-to-suit arrangement. As a result of the purchase, the prior arrangement was effectively terminated and the financing obligation was settled in full. The Company settled the financing obligation of the SK2 data center for SEK234.5 million or approximately $28.1 million and recognized a loss on debt extinguishment of SEK170.5 million or approximately $20.4 million at the exchange rate in effect on March 31, 2018.
Tokyo 11 ("TY11") Data Center
In February 2018, the Company entered into a lease agreement for TY 11 IBX data center. Pursuant to the accounting standard for leases, the Company assessed the lease classification of the TY11 lease and determined that the lease should be accounted for as a capital lease. As of March 31, 2018, the Company recorded a capital lease obligation totaling approximately ¥2,348.5 million, or approximately $22.1 million at the exchange rate in effect on that date. The lease has a term of 30 years through February 2048.
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
2018 (9 months remaining)
$
80,243

 
$
74,287

 
$
154,530

2019
97,762

 
85,865

 
183,627

2020
97,814

 
85,704

 
183,518

2021
95,895

 
87,936

 
183,831

2022
95,720

 
88,639

 
184,359

Thereafter
861,695

 
867,785

 
1,729,480

Total minimum lease payments
1,329,129

 
1,290,216

 
2,619,345

Plus amount representing residual property value
—

 
545,527

 
545,527

Less amount representing interest
(556,219
)
 
(901,670
)
 
(1,457,889
)
Present value of net minimum lease payments
772,910

 
934,073

 
1,706,983

Less current portion
(42,977
)
 
(34,409
)
 
(77,386
)
Total
$
729,933

 
$
899,664

 
$
1,629,597

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