Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of rollforward of stockholders' equity

The following tables provide a rollforward of our stockholders' equity for the three months ended March 31, 2022 and 2021 (in thousands, except share and per share data):


											AOCI (Loss)		Retained Earnings		Equinix Stockholders' Equity		Non-controlling Interests		Total Stockholders' Equity
	Common Stock			Treasury Stock			Additional Paid-in Capital		Accumulated Dividends
	Shares	Amount		Shares	Amount
Balance as of December 31, 2021	90,872,826	$	91	(301,420)	$	(112,208)	$	15,984,597	$	(6,165,140)	$	(1,085,751)	$	2,260,493	$	10,882,082	$	(318)	$	10,881,764

Net income	—	—		—	—		—		—		—		147,453		147,453		240		147,693
Other comprehensive loss	—	—		—	—		—		—		32,837		—		32,837		3		32,840
Issuance of common stock and release of treasury stock for employee equity awards	430,973	—		11,445	4,259		39,617		—		—		—		43,876		—		43,876

Dividend distribution on common stock, $3.10 per share	—	—		—	—		—		(282,031)		—		—		(282,031)		—		(282,031)
Settlement of accrued dividends on vested equity awards	—	—		—	—		—		(497)		—		—		(497)		—		(497)
Accrued dividends on unvested equity awards	—	—		—	—		—		(2,045)		—		—		(2,045)		—		(2,045)
Stock-based compensation, net of estimated forfeitures	—	—		—	—		121,210		—		—		—		121,210		—		121,210

Balance as of March 31, 2022	91,303,799	$	91	(289,975)	$	(107,949)	$	16,145,424	$	(6,449,713)	$	(1,052,914)	$	2,407,946	$	10,942,885	$	(75)	$	10,942,810


							Additional Paid-in Capital		Accumulated Dividends		AOCI (Loss)		Retained Earnings		Equinix Stockholders' Equity		Non-controlling interests		Total Stockholders' Equity
	Common Stock			Treasury Stock
	Shares	Amount		Shares	Amount
Balance as of December 31, 2020	89,462,304	$	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 awards	428,618	1		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, 2021	89,890,922	$	90	(316,412)	$	(117,786)	$	15,166,407	$	(5,379,693)	$	(1,008,848)	$	1,916,664	$	10,576,834	$	(159)	$	10,576,675

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, 2021		Net Change		Balance as of March 31, 2022
Foreign currency translation adjustment ("CTA") loss	$	(1,068,399)	$	(122,537)	$	(1,190,936)
Unrealized gain (loss) on cash flow hedges (1)	(6,590)		64,037		57,447
Net investment hedge CTA gain (loss) (1)	(9,952)		91,358		81,406
Net actuarial loss on defined benefit plans (2)	(810)		(21)		(831)
Accumulated other comprehensive gain (loss) attributable to Equinix	$	(1,085,751)	$	32,837	$	(1,052,914)

(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 March 31,
	2022		2021
Cost of revenues	$	10,443	$	8,467
Sales and marketing	20,184		17,703
General and administrative	59,325		52,180
Total	$	89,952	$	78,350