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Segment Information (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Revenue Information Disaggregated by Service Lines and Geographic Areas

The following tables present revenue information disaggregated by product lines and geographic areas, (in thousands):


	Three Months Ended September 30, 2023								Nine Months Ended September 30, 2023
	Americas		EMEA		Asia-Pacific		Total		Americas		EMEA		Asia-Pacific		Total
Colocation (1)	$	596,871	$	538,256	$	329,054	$	1,464,181	$	1,754,537	$	1,571,233	$	970,875	$	4,296,645
Interconnection	206,552		78,795		67,411		352,758		609,457		227,718		199,428		1,036,603
Managed infrastructure	63,356		32,790		17,484		113,630		184,755		97,105		54,642		336,502
Other (1)	5,503		23,283		1,688		30,474		15,461		74,775		8,707		98,943
Recurring revenues	872,282		673,124		415,637		1,961,043		2,564,210		1,970,831		1,233,652		5,768,693
Non-recurring revenues	41,411		35,590		22,986		99,987		121,571		115,857		71,526		308,954
Total	$	913,693	$	708,714	$	438,623	$	2,061,030	$	2,685,781	$	2,086,688	$	1,305,178	$	6,077,647

(1) Includes some leasing and hedging activities.


	Three Months Ended September 30, 2022								Nine Months Ended September 30, 2022
	Americas		EMEA		Asia-Pacific		Total		Americas		EMEA		Asia-Pacific		Total
Colocation (1)	$	555,352	$	445,733	$	295,008	$	1,296,093	$	1,619,511	$	1,293,641	$	859,258	$	3,772,410
Interconnection	190,283		66,703		61,264		318,250		558,877		201,688		182,092		942,657
Managed infrastructure	54,704		28,493		19,269		102,466		159,255		89,930		59,827		309,012
Other (1)	5,127		23,105		3,091		31,323		15,842		51,567		6,419		73,828
Recurring revenues	805,466		564,034		378,632		1,748,132		2,353,485		1,636,826		1,107,596		5,097,907
Non-recurring revenues	40,695		27,778		24,054		92,527		123,961		104,667		65,725		294,353
Total	$	846,161	$	591,812	$	402,686	$	1,840,659	$	2,477,446	$	1,741,493	$	1,173,321	$	5,392,260

(1) Includes some leasing and hedging activities.

Schedule of Adjusted EBITDA

We define adjusted EBITDA as net income excluding income tax expense, interest income, interest expense, other income or expense, gain or loss on debt extinguishment, depreciation, amortization, accretion, stock-based compensation expense, restructuring charges, impairment charges, transaction costs and gain or loss on asset sales as presented below (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Adjusted EBITDA:
Americas	$	404,897	$	395,159	$	1,202,732	$	1,127,938
EMEA	310,172		283,286		931,499		839,013
Asia-Pacific	220,862		192,471		647,153		564,009
Total adjusted EBITDA	935,931		870,916		2,781,384		2,530,960
Depreciation, amortization and accretion expense	(461,842)		(431,668)		(1,381,298)		(1,300,882)
Stock-based compensation expense	(98,446)		(101,830)		(301,707)		(296,464)

Transaction costs	775		(2,007)		(6,543)		(11,310)
Gain (loss) on asset sales	3,933		(2,252)		5,022		(3,976)
Interest income	23,111		11,192		66,002		17,806
Interest expense	(101,385)		(91,346)		(298,839)		(262,137)
Other expense	(5,972)		(6,735)		(9,987)		(22,522)
Gain (loss) on debt extinguishment	(360)		75		(106)		184
Income before income taxes	$	295,745	$	246,345	$	853,928	$	651,659

Schedule of Segment Disclosures

We also provide the following additional segment disclosures (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Depreciation and amortization:
Americas	$	251,963	$	234,300	$	749,459	$	693,232
EMEA	126,665		111,879		373,679		342,552
Asia-Pacific	84,311		84,013		258,537		263,018
Total	$	462,939	$	430,192	$	1,381,675	$	1,298,802
Capital expenditures:
Americas	$	382,800	$	278,487	$	1,076,339	$	688,635
EMEA	146,776		168,481		449,008		528,808
Asia-Pacific	87,963		105,761		259,951		232,634
Total	$	617,539	$	552,729	$	1,785,298	$	1,450,077

Schedule of Segment Long-Lived Assets

Our long-lived assets, including property, plant and equipment, net and operating lease right-of-use assets, located in the following geographic areas as of (in thousands):


	September 30, 2023		December 31, 2022
Americas	$	8,284,052	$	7,532,125
EMEA	5,712,711		5,577,498
Asia-Pacific	3,373,814		3,539,911
Total property, plant and equipment, net	$	17,370,577	$	16,649,534

Americas	$	422,468	$	263,148
EMEA	437,873		440,139
Asia-Pacific	655,670		724,663
Total operating lease right-of-use assets	$	1,516,011	$	1,427,950