Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

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 millions):

	Three Months Ended September 30, 2024								Nine Months Ended September 30, 2024
	Americas		EMEA		Asia-Pacific		Total		Americas		EMEA		Asia-Pacific		Total
Colocation (1)	$	617	$	566	$	337	$	1,520	$	1,848	$	1,658	$	1,004	$	4,510
Interconnection	224		86		74		384		658		253		215		1,126
Managed infrastructure	66		35		17		118		198		104		50		352
Other (1)	7		26		4		37		20		74		11		105
Recurring revenues	914		713		432		2,059		2,724		2,089		1,280		6,093
Non-recurring revenues	44		30		68		142		139		102		153		394
Total	$	958	$	743	$	500	$	2,201	$	2,863	$	2,191	$	1,433	$	6,487

(1)    Includes some leasing and hedging activities.

	Three Months Ended September 30, 2023								Nine Months Ended September 30, 2023
	Americas		EMEA		Asia-Pacific		Total		Americas		EMEA		Asia-Pacific		Total
Colocation (1)	$	597	$	538	$	329	$	1,464	$	1,754	$	1,571	$	971	$	4,296
Interconnection	207		79		67		353		610		229		198		1,037
Managed infrastructure	63		33		18		114		185		97		55		337
Other (1)	5		23		2		30		15		74		10		99
Recurring revenues	872		673		416		1,961		2,564		1,971		1,234		5,769
Non-recurring revenues	41		36		23		100		121		116		72		309
Total	$	913	$	709	$	439	$	2,061	$	2,685	$	2,087	$	1,306	$	6,078

(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 millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Adjusted EBITDA:
Americas	$	427	$	405	$	1,287	$	1,203
EMEA	372		310		1,024		932
Asia-Pacific	249		221		765		647
Total adjusted EBITDA	1,048		936		3,076		2,782
Depreciation, amortization and accretion expense	(494)		(462)		(1,509)		(1,382)
Stock-based compensation expense	(122)		(98)		(348)		(301)
Transaction costs	(7)		1		(12)		(7)
Gain on asset sales	—		4		18		5
Interest income	35		23		88		66
Interest expense	(117)		(102)		(331)		(299)
Other income (expense)	7		(6)		(6)		(10)
Loss on debt extinguishment	—		—		(1)		—
Income before income taxes	$	350	$	296	$	975	$	854

Schedule of Segment Disclosures

We also provide the following segment disclosures related to our operations as follows (in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Depreciation and amortization:
Americas	$	272	$	252	$	848	$	750
EMEA	132		127		397		374
Asia-Pacific	92		84		266		258
Total	$	496	$	463	$	1,511	$	1,382
Capital expenditures:
Americas	$	412	$	382	$	1,230	$	1,076
EMEA	204		147		541		449
Asia-Pacific	108		88		308		260
Total	$	724	$	617	$	2,079	$	1,785

Schedule of Segment Long-Lived Assets

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

	September 30, 2024		December 31, 2023
Americas	$	9,076	$	8,611
EMEA	6,685		6,321
Asia-Pacific	3,904		3,669
Total property, plant and equipment, net	$	19,665	$	18,601
Americas	$	398	$	421
EMEA	408		368
Asia-Pacific	681		660
Total operating lease right-of-use assets	$	1,487	$	1,449