Equity Investments

3 Months Ended

Mar. 31, 2020

Investments, Debt and Equity Securities [Abstract]

The Company has the following equity investments where it maintains a noncontrolling interest in the investees (in millions).



		Equity Investments as of:
Investees	Equity Method	March 31, 2020		December 31, 2019
GDS, Class A share equivalent	Fair value	$	133.4	$	118.7
ODATA Brasil S.A.	Cost method	17.4		15.4
ODATA Colombia S.A.S	Cost method	2.3		1.0
Equity investments		$	153.1	$	135.1

The Company has an equity investment in GDS, a developer and operator of high-performance, large-scale data centers in China. As of March 31, 2020, the American Depositary Share ("ADS") Class A ordinary share equivalent was $57.97 per ADS based on its closing price. We account for our equity investment in GDS using the fair value method. We hold approximately 2.3 million GDS ADSs, with a total fair value of $133.4 million as of March 31, 2020. For the three months ended March 31, 2020 and March 31, 2019 we recognized $14.7 million and $101.2 million, respectively, in Gain on marketable equity investment.

As of March 31, 2020 and December 31, 2019, the Company had a total $19.7 million and $16.4 million, respectively, investment in ODATA Brasil S.A. and ODATA Colombia S.A.S. (collectively "ODATA"). ODATA, a Brazilian headquartered company, specializes in providing colocation services to wholesale customers, such as hyperscale cloud providers, financial services and telecommunications companies, and also to enterprises across multiple industries. In connection with these investments, CyrusOne and ODATA entered into a commercial agreement covering leasing activity with CyrusOne customers in the ODATA portfolio. In addition, our Chief Technology Officer joined the ODATA board of directors in October 2018. In evaluating the appropriate accounting method for its investment in ODATA, the Company considered its right to appoint a director to the ODATA board of directors, as well as other relevant factors, including the Company's ability to exercise significant influence over the operating and financial policies of ODATA as provided in ASC 323-10-15-6 and concluded that the Company does not exercise significant influence and the investment is accounted for using the cost method. Subsequent to quarter end, on April 1, 2020, the Company made an additional $1.4 million investment in ODATA.