Revenue Recognition

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Lease Revenue

Lease revenue primarily consists of colocation rent and metered power reimbursements from the lease of our data centers. Colocation leases may include all or portions of a data center, where customers may also lease office space to support their colocation operations. Revenue is primarily based on power usage as well as square footage. Customer lease arrangements customarily contain provisions that allow for renewal or continuation on a month-to-month arrangement, and certain leases contain early termination rights. We do not include any of these extension or termination options in a customer’s lease term for lease classification purposes or for recognizing lease revenue unless we are reasonably certain the customer will exercise these extension or termination options at lease commencement. At lease commencement, early termination is generally not deemed probable due to the significant economic penalty incurred by the lessee to exercise its early termination right and to relocate their equipment installed in our facilities. Generally, our customer lease arrangements do not provide any option to purchase and are classified as operating leases. We have operating leases with one customer that represents approximately 20% and 21% of our revenue for the three months ended March 31, 2020 and 2019, respectively.

At March 31, 2020, the future minimum lease payments to be received under non-cancellable operating leases, excluding month-to-month arrangements and metered power reimbursements are shown below (in millions):



As of March 31, 2020	Minimum Lease Payments
2020	$	569.2
2021	651.8
2022	552.2
2023	440.4
2024	341.8
2025	285.4
Thereafter	739.8
Total	$	3,580.6

At March 31, 2019, the future minimum lease payments to be received under non-cancellable operating leases, excluding month-to-month arrangements and metered power reimbursements are shown below (in millions):



As of March 31, 2019	Minimum Lease Payments
2019	$	520.1
2020	631.9
2021	542.8
2022	454.3
2023	365.2
2024	295.9
Thereafter	940.0
Total	$	3,750.2

Revenue from Contracts with Customers

Revenue from equipment sales and the installation of customer equipment is recognized at a point-in-time. Title to such assets are transferred to the customer, and the benefits of the installation service are typically consumed at the completion of the service.

Disaggregation of Revenue

For the three months ended March 31, 2020, lease revenue disaggregated by primary revenue stream is as follows (in millions):



Lease revenue	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Colocation (Minimum lease payments)	$	204.0	$	188.4
Metered power reimbursements (Variable lease payments)	34.8		28.5
Total lease revenue	$	238.8	$	216.9

For the three months ended March 31, 2020 and 2019, revenue from contracts with customers disaggregated by primary revenue stream is as follows (in millions):



	Three Months Ended March 31,
Revenue from contracts with customers	2020		2019
Equipment sales and services	$	2.5	$	3.9
Other revenue	4.6		4.2
Total revenue from contracts with customers	$	7.1	$	8.1

Other revenue from contracts with customers includes $4.1 million and $3.4 million of revenue from managed services for the three months ended March 31, 2020 and 2019, respectively. Total revenues from contracts with customers generated from operations outside of the United States were $0.7 million and insignificant for the three months ended March 31, 2020 and 2019, respectively.

Accounts receivable associated with revenue from contracts with customers were $5.2 million and $6.4 million as of March 31, 2020 and December 31, 2019, respectively.