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 (3 months remaining)	$	30,616		$	26,131		$	56,747
2019	95,623			70,531			166,154
2020	95,667			70,308			165,975
2021	93,735			71,216			164,951
2022	93,398			71,382			164,780
Thereafter	840,407			707,111			1,547,518
Total minimum lease payments	1,249,446			1,016,679			2,266,125
Plus amount representing residual property value	—			453,757			453,757
Less amount representing interest	(514,003		)	(721,400		)	(1,235,403		)
Present value of net minimum lease payments	735,443			749,036			1,484,479
Less current portion	(43,271		)	(54,948		)	(98,219		)
Total	$	692,172		$	694,088		$	1,386,260

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

Operating Leases

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



Years ending:
2018 (3 months remaining)	$	48,596
2019	187,318
2020	177,240
2021	165,351
2022	157,565
Thereafter	1,252,186
Total	$	1,988,256