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Leases (Tables)
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Schedule of Leases Entered into During the Period
The following table summarizes the significant lease transactions during the year ended December 31, 2023 (in thousands):
Renewal/Termination Options Excluded (1)
Net Incremental (2)
LeaseQuarterTransactionLease ClassificationROU assetsROU liabilities
Chicago 1/2/4 ("CH1/2/4") data center lease expansionQ2
Expanded CH1 to additional space within the building (3)
One 10-year renewal option
Operating Lease$150,990$176,316
Finance Lease78,07352,747
London 8 ("LD8") data center lease purchaseQ4
163-year lease term following purchase of leasehold interest
NoneOperating Lease(86,724)(83,033)
Finance Lease184,945 (39,613)
(1)    These renewal/termination options are not included in determining the lease terms as we are not reasonably certain to exercise them at this time. Certain complementary leases contain one additional 10-year renewal option.
(2)    The net incremental amounts represent the adjustments to the right-of-use assets and liabilities recorded during the quarter that the transactions were entered, including the effective termination of existing LD8 leases concurrent with the purchase of the 163-year leasehold interest.
(3)    The incremental balance includes the impact of reassessing lease terms of complementary leases of CH1, resulting in new lease end dates ranging from June 2037 to October 2040 from including renewal options that are reasonably certain to be exercised and in certain complementary leases changing classification.
Schedule of Components of lease expenses
The components of lease expenses are as follows (in thousands):
Years Ended December 31,
202320222021
Finance lease cost
Amortization of right-of-use assets (1)
$166,266 $161,061 $157,057 
Interest on lease liabilities
113,039 112,518 117,896 
Total finance lease cost
279,305 273,579 274,953 
Operating lease cost243,434 213,619 221,776 
Variable lease cost62,206 41,237 33,066 
Total lease cost$584,945 $528,435 $529,795 
(1) Amortization of right-of-use assets is included within depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the consolidated statements of operations.
Schedule of Other Information Related to Leases
Other information related to leases is as follows (in thousands, except years and percent):
Years Ended December 31,
202320222021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases$109,915 $109,514 $113,571 
Operating cash flows from operating leases231,269 197,356 258,719 
Financing cash flows from finance leases148,913 134,202 165,539 
Right-of-use assets obtained in exchange for lease obligations: (1)
Finance leases$208,683 $293,858 $412,214 
Operating leases210,938 355,040 10,446 
As of December 31,
20232022
Weighted-average remaining lease term - finance leases (2)
14 years15 years
Weighted-average remaining lease term - operating leases (2)
12 years12 years
Weighted-average discount rate - finance leases6 %6 %
Weighted-average discount rate - operating leases5 %4 %
Finance lease right-of-use assets (3)
$2,183,557 $2,018,070 
(1) Represents all non-cash changes in right-of-use assets.
(2) Includes lease renewal options that are reasonably certain to be exercised.
(3) As of December 31, 2023 and 2022, we recorded accumulated amortization of finance lease assets of $870.3 million and $840.0 million, respectively. Finance lease assets are recorded within property, plant and equipment, net on the consolidated balance sheets.
Schedule of Maturities of Lease Liabilities
Maturities of lease liabilities as of December 31, 2023 are as follows (in thousands):
Year ended December 31, Operating LeasesFinance LeasesTotal
2024$193,541 $252,296 $445,837 
2025204,876 278,244 483,120 
2026197,209 245,691 442,900 
2027177,937 250,254 428,191 
2028150,966 237,865 388,831 
Thereafter1,085,803 2,092,877 3,178,680 
Total lease payments2,010,332 3,357,227 5,367,559 
Less imputed interest(548,254)(1,096,086)(1,644,340)
Total$1,462,078 $2,261,141 $3,723,219 
Schedule of Maturities of Lease Liabilities
Maturities of lease liabilities as of December 31, 2023 are as follows (in thousands):
Year ended December 31, Operating LeasesFinance LeasesTotal
2024$193,541 $252,296 $445,837 
2025204,876 278,244 483,120 
2026197,209 245,691 442,900 
2027177,937 250,254 428,191 
2028150,966 237,865 388,831 
Thereafter1,085,803 2,092,877 3,178,680 
Total lease payments2,010,332 3,357,227 5,367,559 
Less imputed interest(548,254)(1,096,086)(1,644,340)
Total$1,462,078 $2,261,141 $3,723,219