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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2021
Equity [Abstract]  
Schedule of rollforward of stockholders' equity
The following tables provide a rollforward of our stockholders' equity for the three and six months ended June 30, 2021 and 2020 (in thousands, except share and per share data):
AOCI (Loss)Retained
Earnings
Equinix
Stockholders'
Equity
Non-controlling InterestsTotal Stockholders' Equity
Common StockTreasury StockAdditional
Paid-in Capital
Accumulated
Dividends
SharesAmountSharesAmount
Balance as of December 31, 202089,462,304 $89 (328,052)$(122,118)$15,028,357 $(5,119,274)$(913,368)$1,760,302 $10,633,988 $130 $10,634,118 
Net income (loss)— — — — — — — 156,362 156,362 (288)156,074 
Other comprehensive loss— — — — — — (95,480)— (95,480)(1)(95,481)
Issuance of common stock and release of treasury stock for employee equity awards428,618 11,640 4,332 35,701 — — — 40,034 — 40,034 
Dividend distribution on common stock, $2.87 per share
— — — — — (256,321)— — (256,321)— (256,321)
Settlement of accrued dividends on vested equity awards— — — — — (437)— — (437)— (437)
Accrued dividends on unvested equity awards— — — — — (3,661)— — (3,661)— (3,661)
Stock-based compensation, net of estimated forfeitures— — — 102,349 — — — 102,349 — 102,349 
Balance as of March 31, 202189,890,922 90 (316,412)(117,786)15,166,407 (5,379,693)(1,008,848)1,916,664 10,576,834 (159)10,576,675 
Net income— — — — — — — 68,339 68,339 148 68,487 
Other comprehensive income— — — — — — 67,734 — 67,734 11 67,745 
Issuance of common stock and release of treasury stock for employee equity awards36,674 — 1,389 516 (516)— — — — — — 
Issuance of common stock under ATM Program137,604 — — — 99,599 — — — 99,599 — 99,599 
Dividend distribution on common stock, $2.87 per share
— — — — — (257,199)— — (257,199)— (257,199)
Settlement of accrued dividends on vested equity awards— — — — — (55)— — (55)— (55)
Accrued dividends on unvested equity awards— — — — — (4,016)— — (4,016)— (4,016)
Stock-based compensation, net of estimated forfeitures— — — — 95,236 — — — 95,236 — 95,236 
Balance as of June 30, 202190,065,200 $90 (315,023)$(117,270)$15,360,726 $(5,640,963)$(941,114)$1,985,003 $10,646,472 $— $10,646,472 
Additional
Paid-in Capital
Accumulated
Dividends
AOCI (Loss)Retained
Earnings
Equinix
Stockholders'
Equity
Non-controlling interestsTotal Stockholders' Equity
Common StockTreasury Stock
SharesAmountSharesAmount
Balance as of December 31, 201985,700,953 $86 (392,567)$(144,256)$12,696,433 $(4,168,469)$(934,613)$1,391,425 $8,840,606 $(224)$8,840,382 
Adjustment from adoption of new accounting standard update— — — — — — — (900)(900)— (900)
Net income— — — — — — — 118,792 118,792 165 118,957 
Other comprehensive loss— — — — — — (272,056)— (272,056)(11)(272,067)
Issuance of common stock and release of treasury stock for employee equity awards405,550 — 50,594 16,958 13,432 — — — 30,390 — 30,390 
Issuance of common stock under ATM Program162,530 — — — 101,791 — — — 101,791 — 101,791 
Dividend distribution on common stock, $2.66 per share
— — — — — (227,387)— — (227,387)— (227,387)
Settlement of accrued dividends on vested equity awards— — — — 109 (403)— — (294)— (294)
Accrued dividends on unvested equity awards— — — — — (3,268)— — (3,268)— (3,268)
Stock-based compensation, net of estimated forfeitures— — — — 81,690 — — — 81,690 — 81,690 
Balance as of March 31, 202086,269,033 86 (341,973)(127,298)12,893,455 (4,399,527)(1,206,669)1,509,317 8,669,364 (70)8,669,294 
Net income— — — — — — — 133,304 133,304 46 133,350 
Other comprehensive income— — — — — — 66,378 — 66,378 66,380 
Issuance of common stock and release of treasury stock for employee equity awards34,146 — 688 256 (256)— — — — — — 
Issuance of common stock for equity offering2,587,500 — — 1,683,103 — — — 1,683,106 — 1,683,106 
Dividend distribution on common stock, $2.66 per share
— — — — — (235,334)— — (235,334)— (235,334)
Settlement of accrued dividends on vested equity awards— — — — — (44)— — (44)— (44)
Accrued dividends on unvested equity awards— — — — — (4,136)— — (4,136)— (4,136)
Stock-based compensation, net of estimated forfeitures— — — — 75,642 — — — 75,642 — 75,642 
Balance as of June 30, 202088,890,679 $89 (341,285)$(127,042)$14,651,944 $(4,639,041)$(1,140,291)$1,642,621 $10,388,280 $(22)$10,388,258 
Schedule of changes in accumulated other comprehensive loss
The changes in accumulated other comprehensive loss, net of tax, by components are as follows (in thousands):
Balance as of December 31,
2020
Net
Change
Balance as of June 30,
2021
Foreign currency translation adjustment ("CTA") gain (loss)$(508,415)$(184,690)$(693,105)
Unrealized gain (loss) on cash flow hedges (1)
(67,152)23,778 (43,374)
Net investment hedge CTA gain (loss) (1)
(336,934)133,139 (203,795)
Net actuarial gain (loss) on defined benefit plans (2)
(867)27 (840)
Accumulated other comprehensive loss attributable to Equinix
$(913,368)$(27,746)$(941,114)
(1)Refer to Note 7 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income.
(2)We have two defined benefit pension plans covering all employees in two countries where such plan is mandated by law.
Schedule of stock-based compensation expense by operating expense category
The following table presents, by operating expense category, our stock-based compensation expense recognized in our condensed consolidated statements of operations (in thousands):
 Three Months Ended
June 30,
Six Months Ended
June 30,
 2021202020212020
Cost of revenues$10,008 $7,655 $18,475 $16,998 
Sales and marketing20,779 18,215 38,482 36,760 
General and administrative63,548 49,974 115,728 102,652 
Total$94,335 $75,844 $172,685 $156,410