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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 31,730 $ 24,721
Accounts receivable, net of allowance for credit losses of $676 and $309, respectively 16,573 23,365
Prepaid expenses 4,082 7,137
Other current assets, net of allowance for credit losses of $5 and $0, respectively 3,190 3,817
Total current assets 55,575 59,040
Property and equipment, net 1,630,119 1,551,117
Long-term deposit 3,217 3,429
Deferred income taxes 174,269 114,372
Other assets, net of allowance for credit losses of $77 and $0, respectively 44,270 45,785
TOTAL ASSETS 1,907,450 1,773,743
CURRENT LIABILITIES:    
Long-term debt, current portion 6,000 6,000
Accounts payable 18,696 19,477
Accrued salaries and benefits 9,202 5,828
Accrued expenses 9,951 11,254
Accrued construction payables 21,621 37,269
Deferred revenue, current portion 12,868 14,991
Customer deposits 11,655 10,830
Interest rate swap liability, current portion 9,225 3,464
Operating lease liability, current portion 4,011 4,805
Finance lease liability, current portion 4 12
Total current liabilities 103,233 113,930
Long-term debt, net 832,775 745,372
Operating lease liability 24,355 26,142
Finance lease liability 57,570 57,614
Deferred revenue 23,576 27,852
Liabilities under tax receivable agreement 234,085 162,076
Other long-term liabilities 26,014 13,112
TOTAL LIABILITIES 1,301,608 1,146,098
Commitments and contingencies (Note 4)
STOCKHOLDER’S EQUITY    
Preferred stock 0 0
Additional paid in capital 238,471 204,711
Retained earnings 98 2,420
Accumulated other comprehensive income 79 79
Total Switch, Inc. stockholders’ equity 238,889 207,451
Noncontrolling interest 366,953 420,194
TOTAL STOCKHOLDERS’ EQUITY 605,842 627,645
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 1,907,450 1,773,743
Class A Common Stock    
STOCKHOLDER’S EQUITY    
Common stock 107 90
Class B Common Stock    
STOCKHOLDER’S EQUITY    
Common stock 134 151
Class C Common Stock    
STOCKHOLDER’S EQUITY    
Common stock $ 0 $ 0