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Assets Held for Sale
6 Months Ended
Jun. 30, 2020
Property, Plant and Equipment [Abstract]  
Assets Held for Sale
Assets Held for Sale
In April 2020, the Company entered into an agreement to form a second joint venture in the form of a limited liability partnership with GIC to develop and operate xScaleTM data centers in Asia-Pacific (the “Asia-Pacific Joint Venture”). Upon closing, GIC will contribute cash in exchange for an 80% partnership interest in the Asia-Pacific Joint Venture. The Company has agreed to sell three development sites in Japan, Osaka 2, Tokyo 12, and Tokyo 14, to the Asia-Pacific Joint Venture in exchange for a 20% partnership interest in the Asia-Pacific Joint Venture and cash proceeds. The assets and liabilities of these data center facilities, which are currently included within the Company's Asia-Pacific operating segment, were classified as held for sale as of June 30, 2020. The transaction is expected to close in the fourth quarter of 2020, pending regulatory approval and other closing conditions.
As of June 30, 2020, $141.2 million of property, plant and equipment, $11.0 million of other current assets were classified as assets held for sale on the condensed consolidated balance sheet. In addition, $7.2 million of accrued costs to sell were recorded as transaction costs during the six months ended June 30,2020 and classified as liabilities held for sale as of June 30, 2020. Liabilities held for sale were included within other current liabilities on the condensed consolidated balance sheet.