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 the 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. During the three months ended 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 March 31, 2018. 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 (6 months remaining)	$	54,909		$	44,230		$	99,139
2019	96,780			70,775			167,555
2020	96,862			70,413			167,275
2021	94,966			71,462			166,428
2022	94,676			71,629			166,305
Thereafter	852,403			710,668			1,563,071
Total minimum lease payments	1,290,596			1,039,177			2,329,773
Plus amount representing residual property value	—			457,943			457,943
Less amount representing interest	(535,289		)	(740,796		)	(1,276,085		)
Present value of net minimum lease payments	755,307			756,324			1,511,631
Less current portion	(42,888		)	(42,375		)	(85,263		)
Total	$	712,419		$	713,949		$	1,426,368

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

Operating Leases

Minimum future operating lease payments as of June 30, 2018 are summarized as follows (in thousands):



Years ending:
2018 (6 months remaining)	$	91,781
2019	179,437
2020	169,326
2021	158,203
2022	153,659
Thereafter	1,244,509
Total	$	1,996,915