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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 156,081 $ 24,721
Accounts receivable, net of allowance for credit losses of $589 and $309, respectively 16,480 23,365
Prepaid expenses 5,449 7,137
Other current assets, net of allowance for credit losses of $3 and $0, respectively 2,761 3,817
Total current assets 180,771 59,040
Property and equipment, net 1,675,229 1,551,117
Long-term deposit 3,754 3,429
Deferred income taxes 177,669 114,372
Other assets, net of allowance for credit losses of $81 and $0, respectively 47,965 45,785
TOTAL ASSETS 2,085,388 1,773,743
CURRENT LIABILITIES:    
Long-term debt, current portion 6,000 6,000
Accounts payable 18,134 19,477
Accrued salaries and benefits 13,408 5,828
Accrued expenses 12,396 11,254
Accrued construction payables 25,788 37,269
Deferred revenue, current portion 14,476 14,991
Customer deposits 11,828 10,830
Interest rate swap liability, current portion 9,332 3,464
Operating lease liability, current portion 3,819 4,805
Finance lease liability, current portion 4 12
Total current liabilities 115,185 113,930
Long-term debt, net 984,821 745,372
Operating lease liability 26,359 26,142
Finance lease liability 57,543 57,614
Deferred revenue 23,564 27,852
Liabilities under tax receivable agreement 243,690 162,076
Other long-term liabilities 25,143 13,112
TOTAL LIABILITIES 1,476,305 1,146,098
Commitments and contingencies (Note 5)
STOCKHOLDER’S EQUITY    
Preferred stock 0 0
Additional paid in capital 242,955 204,711
(Accumulated deficit) retained earnings (325) 2,420
Accumulated other comprehensive income 79 79
Total Switch, Inc. stockholders’ equity 242,950 207,451
Noncontrolling interest 366,133 420,194
TOTAL STOCKHOLDERS’ EQUITY 609,083 627,645
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 2,085,388 1,773,743
Class A Common Stock    
STOCKHOLDER’S EQUITY    
Common stock 109 90
Class B Common Stock    
STOCKHOLDER’S EQUITY    
Common stock 132 151
Class C Common Stock    
STOCKHOLDER’S EQUITY    
Common stock $ 0 $ 0