XML 63 R31.htm IDEA: XBRL DOCUMENT v3.23.1
Stockholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Schedule of Rollforward of Stockholders' Equity
The following tables provide a rollforward of our stockholders' equity for the three months ended March 31, 2023 and 2022 (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, 202292,813,976 $93 (193,273)$(71,966)$17,320,017 $(7,317,570)$(1,389,446)$2,964,838 $11,505,966 $(134)$11,505,832 
Net income— — — — — — — 258,786 258,786 (56)258,730 
Other comprehensive income— — — — — — 104,258 — 104,258 — 104,258 
Issuance of common stock and release of treasury stock for employee equity awards419,490 — 16,066 5,978 38,565 — — — 44,543 1 44,544 
Issuance of common stock under ATM Program458,459 1 — — 300,774 — — — 300,775 — 300,775 
Dividend distribution on common stock,$3.41 per share
— — — — — (318,736)— — (318,736)— (318,736)
Settlement of accrued dividends on vested equity awards— — — — — (483)— — (483)— (483)
Accrued dividends on unvested equity awards— — — — — (2,406)— — (2,406)— (2,406)
Stock-based compensation, net of estimated forfeitures— — — — 136,345 — — — 136,345 — 136,345 
Balance as of March 31, 202393,691,925 $94 (177,207)$(65,988)$17,795,701 $(7,639,195)$(1,285,188)$3,223,624 $12,029,048 $(189)$12,028,859 
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, 202190,872,826 $91 (301,420)$(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 awards430,973 — 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, 202291,303,799 $91 (289,975)$(107,949)$16,145,424 $(6,449,713)$(1,052,914)$2,407,946 $10,942,885 $(75)$10,942,810 
Schedule of Changes in Accumulated Other Comprehensive Loss
The changes in accumulated other comprehensive loss, net of tax, by components are as follows (in thousands):
Balance as of December 31,
2022		Net
Change		Balance as of March 31,
2023
Foreign currency translation adjustment ("CTA") gain (loss)$(1,838,237)$157,214 $(1,681,023)
Unrealized gain (loss) on cash flow hedges (1)
33,953 (12,881)21,072 
Net investment hedge CTA gain (loss) (1)
415,749 (39,960)375,789 
Net actuarial loss on defined benefit plans (2)
(911)(115)(1,026)
$(1,389,446)$104,258 $(1,285,188)
(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 plans are mandated by law. We do not have any defined benefit plans in any other countries.
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,
 20232022
Cost of revenues$11,323 $10,443 
Sales and marketing19,505 20,184 
General and administrative67,887 59,325 
Total$98,715 $89,952