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Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
While we have one primary line of business, which is the design, build-out and operation of IBX data centers, we have determined that we have three reportable segments comprised of our Americas, EMEA and Asia-Pacific geographic regions. Each of our three reportable segments are managed by regional presidents and require unique strategies due to the varying microeconomic and macroeconomic conditions within each region. Our chief executive officer is our chief operating decision maker and evaluates performance, makes operating decisions and allocates resources primarily based on our revenues and adjusted EBITDA, both on a consolidated basis and for these three reportable segments. Intercompany transactions between segments are excluded for management reporting purposes.
We define adjusted EBITDA, our measure of segment profit or loss, 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. The accounting policies of the three segments are the same as those described in the summary of significant accounting policies, except that segment expenses exclude depreciation, amortization and accretion expense and stock-based compensation expense, consistent with the definition of adjusted EBITDA.
The following tables present segment information, including revenue information disaggregated by product lines and segment adjusted EBITDA, and a reconciliation to total consolidated income before income taxes (in millions):
Three Months Ended March 31, 2025
AmericasEMEAAsia-PacificTotal
Colocation (1)
$636 $567 $342 $1,545 
Interconnection229 87 77 393 
Managed infrastructure63 35 17 115 
Other (1)
3 27 4 34 
Recurring revenues931 716 440 2,087 
Non-recurring revenues70 27 41 138 
Total revenues (2)
1,001 743 481 2,225 
Less:
Segment cost of revenues290 281 156 727 
Other segment items (3)
268 97 66 431 
Segment adjusted EBITDA$443 $365 $259 $1,067 
Reconciliation to income before income taxes:
Depreciation, amortization and accretion expense$(480)
Stock-based compensation expense(113)
Transaction costs(6)
Restructuring charges(10)
Interest income47 
Interest expense(122)
Other income (expense)9 
Income before income taxes$392 
(1)     Includes some leasing and hedging activities.
(2)    Total revenues attributed to the U.S. were $873 million. There was no other country from which we derived revenues that exceeded 10% of our total revenues and no single customer accounted for 10% or greater of our accounts receivable or revenues as at or for the three months ended March 31, 2025.
(3)    Other segment items for each reportable segment are comprised of general and administrative and sales and marketing expenses, excluding stock-based compensation expense and depreciation, amortization and accretion expense.
Three Months Ended March 31, 2024
AmericasEMEAAsia-PacificTotal
Colocation (1)
$607 $549 $334 $1,490 
Interconnection215 83 70 368 
Managed infrastructure66 35 17 118 
Other (1)
6 24 4 34 
Recurring revenues894 691 425 2,010 
Non-recurring revenues45 36 36 117 
Total revenues (2)
939 727 461 2,127 
Less:
Segment cost of revenues270 305 139 714 
Other segment items (3)
260 94 67 421 
Segment adjusted EBITDA$409 $328 $255 $992 
Reconciliation to income before income taxes:
Depreciation, amortization and accretion expense$(525)
Stock-based compensation expense(101)
Transaction costs(2)
Interest income24 
Interest expense(104)
Other income (expense)(6)
Gain (loss) on debt extinguishment(1)
Income before income taxes$277 
(1)     Includes some leasing and hedging activities.
(2)    Total revenues attributed to the U.S. and the United Kingdom were $795 million and $218 million, respectively. There was no other country from which we derived revenues that exceeded 10% of our total revenues and no single customer accounted for 10% or greater of our accounts receivable or revenues as at or for the three months ended March 31, 2024.
(3)    Other segment items for each reportable segment are comprised of general and administrative and sales and marketing expenses, excluding stock-based compensation expense and depreciation, amortization and accretion expense.
 We provide the following additional segment disclosures for the three months ended March 31, 2025 (in millions):
 Three Months Ended
March 31,
 20252024
Depreciation and amortization:
Americas$269 $307 
EMEA123 132 
Asia-Pacific87 87 
Total$479 $526 
Capital expenditures:
Americas$501 $425 
EMEA171 191 
Asia-Pacific78 91 
Total$750 $707 
Our long-lived assets, including property, plant and equipment, net and operating lease right-of-use assets, were located in the following geographic regions (in millions):
Property, plant and equipment, netOperating lease right-of-use assets
March 31,
2025		December 31,
2024		March 31,
2025		December 31,
2024
Americas$9,467 $9,193 $386 $389 
EMEA6,717 6,405 437 398 
Asia-Pacific3,833 3,651 654 632 
Total$20,017 $19,249 $1,477 $1,419