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Related Party Transactions
9 Months Ended
Sep. 30, 2016
Related Party Transactions [Abstract]  
Related Party Transactions
Related Party Transactions
Prior to November 20, 2012, CyrusOne Inc., CyrusOne GP, CyrusOne LP and its subsidiaries were operated by CBI. The consolidated financial statements reflect the following transactions with CBI and its affiliated entities, including Cincinnati Bell Telephone (CBT) and Cincinnati Bell Technology Solutions (CBTS).
Revenues—The Company records revenues from CBI under contractual service arrangements. These services include leasing of data center space, power and cooling in certain of our data center facilities, network interface services and office space.
Operating Expenses—The Company records expenses from CBI incurred in relation to network support, services calls, monitoring and management, storage and backup, IT systems support, and connectivity services.
Total revenues were $5.3 million and $16.5 million for the three and nine months ended September 30, 2015, respectively. Total operating costs and expenses were $0.4 million and $1.2 million for the three and nine months ended September 30, 2015, respectively.
At December 31, 2015, CBI owned 9.5% of the outstanding common stock of CyrusOne Inc. and no operating partnership units, at which point it ceased to be a related party of CyrusOne Inc.  As of September 30, 2016, CBI owned less than 5.0% of the outstanding common stock of CyrusOne Inc.
The dividends payable as of September 30, 2016, reflect the balance due to subsidiaries of CBI related to the dividend and distribution announced on August 1, 2016 of $0.38 per share based on CBI's ownership of common shares of CyrusOne Inc. as of the Record Date of September 30, 2016.