Related Party Transactions

12 Months Ended

Dec. 31, 2021

Joint Venture Related Party Transactions

We have lease arrangements and provide various services to the EMEA 1 Joint Venture, Asia-Pacific 1 Joint Venture and EMEA 2 Joint Venture (the "Joint Ventures") through multiple agreements, including sales and marketing, development management, facilities management, and asset management services. These transactions are generally considered to have been negotiated at arm's length. The following table presents the revenues and expenses from these arrangements with the Joint Ventures in our consolidated statements of operations (in thousands):


		Years Ended December 31,
Related Party	Nature of Transaction	2021		2020		2019
EMEA 1 Joint Venture	Revenues	$	42,387	$	21,306	$	3,707
EMEA 1 Joint Venture	Expenses (1)	8,303		14,935		2,076
Asia-Pacific 1 Joint Venture	Revenues	21,223		588		—
EMEA 2 Joint Venture	Revenues	7,097		—		—

(1)We have a sub-lease agreement with the EMEA 1 Joint Venture to sub-lease a portion of London ("LD") 10-2 data center or former LD10 data center, for a total of 15 years. Balances primarily consist of rent expenses for the LD10-2 data center.

The following table presents the assets and liabilities from related party transactions with the Joint Ventures in our consolidated balance sheets (in thousands):


		As of December 31,
Related Party	Balance Sheet Line Item	2021		2020
EMEA 1 Joint Venture	Receivables	$	32,077	$	6,459
	Contract Assets (1)	54,503		5,614
	Finance Lease Right of Use Assets	118,817		127,197
	Other Liabilities and Payables (2)	2,483		17,646
	Other Liabilities and Payables - construction obligation (3)	39,382		55,607
	Deferred Revenue	16,886		—
	Finance Lease Right of Use Liabilities	124,918		130,756

Asia- Pacific 1 Joint Venture	Receivables	2,124		16,936
	Payables	121		—

EMEA 2 Joint Venture	Receivables	26,953		—
	Contract Assets	1,492		—
	Payables	1,755		—

(1)A portion of the EMEA 1 Joint Venture contract asset balance relates to commitments to complete a residual portion of the Paris 9 data center sold to the EMEA 1 Joint Venture, which is reimbursable in full upon completion.

(2)Balance as of December 31, 2021 primarily pertained to commercial service agreements. Balance as of December 31, 2020 pertained to the lease agreement in place for the construction of the Frankfurt 9 xScale data center. As of December 31, 2021 the lease has commenced and was accounted as a sale-type lease.

(3)Balances primarily relate to obligations to pay for future construction for certain sites sold as a part of the EMEA 1 Joint Venture transaction. The prior year amounts presented in the table above have been reclassified to conform with the current year presentation.

We have also sold certain data center facilities to our Joint Ventures and recognized gains or losses on asset sales; for more information refer to Note 5 above.

Other Related Party Transactions

We have several significant stockholders and other related parties that are also customers and/or vendors. Our activity of other related party transactions was as follows (in thousands):


	Years ended December 31,
	2021		2020		2019
Revenues	$	140,947	$	95,264	$	25,905
Costs and services	5,337		10,849		15,844


	As of December 31,
	2021		2020
Accounts receivable	$	27,997	$	6,519
Accounts payable	20		—