Segment and Geographic Information

12 Months Ended

Dec. 31, 2024

Segment and Geographic Information

Segment and Geographic Information

21. Segment and Geographic Information

A majority of the Company’s largest customers are global entities that transact with the Company across multiple geographies worldwide. In order to better address the needs of these global customers, the Company manages critical decisions around development, operations, and leasing globally based on customer demand considerations. In this regard, the Company manages customer relationships globally in order to achieve consistent sales and delivery experience of our products for our customers throughout the global portfolio. The Company has reiterated its commitment to and implemented strategies to align itself as one global team to help power customers’ digital ambitions.

In order to best accommodate the needs of global customers (and customers that might one day become global), the Company manages its operations as a single global business – with one operating segment and therefore one reporting segment.

The Company’s chief operating decisionmaker (“CODM”) is the Chief Executive Officer, who uses net income as a primary measure of operating results on a consolidated basis in making decisions. Net income is computed in accordance with U.S. GAAP. Significant expense categories, including Rental property operating and maintenance, Property taxes and insurance, General and administrative and Interest expense, are regularly provided to the Company’s CODM as components of net income, which are reflected on the Consolidated Income Statements.

The financial information disclosed herein represents all of the financial information related to our one reportable segment, and the segmental presentation is consistent with the information provided to our CODM. These metrics are collectively used to evaluate the performance of the Company’s investments in real estate assets, its operating results and to allocate resources.

	Operating Revenues
	Year Ended December 31,
(Amounts in millions)	2024			2023			2022
Inside the United States	$	2,910.5		$	2,836.0		$	2,760.4
Outside the United States		2,644.5			2,641.1			1,931.4
Revenue Outside of U.S. %		47.6	%		48.2	%		41.2	%

	Investments in Properties, net				Operating lease right-of-use assets, net
	As of December 31,		As of December 31,		As of December 31,		As of December 31,
(Amounts in millions)	2024		2023		2024		2023
Inside the United States	$	10,592.3	$	10,429.2	$	552.3	$	610.2
Outside the United States		13,528.5		13,806.9		626.6		804.1
Net Assets in Foreign Operations	$	7,744.8	$	6,778.4