XML 17 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statement of Stockholders' Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Cumulative adjustment due to adoption of new credit loss standard
Class A Common Stock
Common Stock
Common Stock
Class A Common Stock
Common Stock
Class B Common Stock
Additional Paid in Capital
Retained Earnings
Retained Earnings
Cumulative adjustment due to adoption of new credit loss standard
Accumulated Other Comprehensive Income
Noncontrolling Interest
Noncontrolling Interest
Cumulative adjustment due to adoption of new credit loss standard
Beginning balance (in shares) at Dec. 31, 2019         89,768 151,047            
Beginning balance at Dec. 31, 2019 $ 627,645 $ (149)     $ 90 $ 151 $ 204,711 $ 2,420 $ (67) $ 79 $ 420,194 $ (82)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (3,489)             (1,216)     (2,273)  
Equity-based compensation expense 7,524           4,973       2,551  
Issuance of Class A common stock upon settlement of restricted stock units, net of shares withheld for tax (shares)         630              
Issuance of Class A common stock upon settlement of restricted stock units, net of shares withheld for tax (3,911)           (3,375)       (536)  
Dividends declared (2,891)             (2,891)        
Distributions to noncontrolling interest (4,304)                   (4,304)  
Exchanges of noncontrolling interest for Class A common stock (in shares)         4,637 (4,637)            
Exchanges of noncontrolling interest for Class A common stock         $ 5 $ (5) 13,403       (13,403)  
Recognition of tax receivable agreement liability resulting from exchanges of noncontrolling interest for Class A common stock (19,198)           (19,198)          
Net deferred tax asset resulting from changes in outside basis difference on investment in Switch, Ltd. 16,610           16,610          
Ending balance (in shares) at Mar. 31, 2020         95,035 146,410            
Ending balance at Mar. 31, 2020 $ 617,837       $ 95 $ 146 217,124 (1,754)   79 402,147  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Dividends declared (in dollars per share) $ 0.0294                      
Beginning balance (in shares) at Dec. 31, 2019         89,768 151,047            
Beginning balance at Dec. 31, 2019 $ 627,645 $ (149)     $ 90 $ 151 204,711 2,420 $ (67) 79 420,194 $ (82)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income 9,847                      
Issuance of Class A common stock upon settlement of restricted stock units, net of shares withheld for tax (shares)     16,100                  
Foreign currency translation adjustment 0                      
Ending balance (in shares) at Jun. 30, 2020         106,767 133,796            
Ending balance at Jun. 30, 2020 605,842       $ 107 $ 134 238,471 98   79 366,953  
Beginning balance (in shares) at Mar. 31, 2020         95,035 146,410            
Beginning balance at Mar. 31, 2020 617,837       $ 95 $ 146 217,124 (1,754)   79 402,147  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income 13,336             5,097     8,239  
Equity-based compensation expense 7,510           5,416       2,094  
Issuance of Class A common stock upon settlement of restricted stock units, net of shares withheld for tax (shares)         16              
Issuance of Class A common stock upon settlement of restricted stock units, net of shares withheld for tax (121)           (330)       209  
Issuance of Class A common stock upon exercise of stock options (in shares)         169              
Issuance of Class A common stock upon exercise of stock options 2,876           596       2,280  
Issuance of restricted stock awards (in shares)         59              
Dividends declared (3,245)             (3,245)        
Distributions to noncontrolling interest (3,934)                   (3,934)  
Exchanges of noncontrolling interest for Class A common stock (in shares)         11,488 (11,488)            
Exchanges of noncontrolling interest for Class A common stock         $ 12 $ (12) 31,840       (31,840)  
Repurchase of common units and cancellation of Class B common stock (in shares)           (1,126)            
Repurchase of common units and cancellation of Class B common stock (20,000)           (7,758)       (12,242)  
Recognition of tax receivable agreement liability resulting from exchanges of noncontrolling interest for Class A common stock (52,811)           (52,811)          
Net deferred tax asset resulting from changes in outside basis difference on investment in Switch, Ltd. 44,394           44,394          
Foreign currency translation adjustment 0                      
Ending balance (in shares) at Jun. 30, 2020         106,767 133,796            
Ending balance at Jun. 30, 2020 $ 605,842       $ 107 $ 134 238,471 98   79 366,953  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Dividends declared (in dollars per share) $ 0.0294                      
Beginning balance (in shares) at Dec. 31, 2020         119,009 121,640            
Beginning balance at Dec. 31, 2020 $ 610,967       $ 119 $ 122 266,129 9   79 344,509  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income 24,394             11,641     12,753  
Equity-based compensation expense 7,297           6,359       938  
Issuance of Class A common stock upon settlement of restricted stock units, net of shares withheld for tax (shares)         812              
Issuance of Class A common stock upon settlement of restricted stock units, net of shares withheld for tax (5,474)     $ 1     (5,622)       147  
Dividends declared (6,562)             (6,562)        
Distributions to noncontrolling interest (5,696)                   (5,696)  
Exchanges of noncontrolling interest for Class A common stock (in shares)         7,725 (7,725)            
Exchanges of noncontrolling interest for Class A common stock         $ 8 $ (8) 22,364       (22,364)  
Recognition of tax receivable agreement liability resulting from exchanges of noncontrolling interest for Class A common stock (32,477)           (32,477)          
Net deferred tax asset resulting from changes in outside basis difference on investment in Switch, Ltd. 26,752           26,752          
Foreign currency translation adjustment (474)                 (61) (413)  
Ending balance (in shares) at Mar. 31, 2021         127,546 113,915            
Ending balance at Mar. 31, 2021 $ 618,727       $ 128 $ 114 283,505 5,088   18 329,874  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Dividends declared (in dollars per share) $ 0.05                      
Beginning balance (in shares) at Dec. 31, 2020         119,009 121,640            
Beginning balance at Dec. 31, 2020 $ 610,967       $ 119 $ 122 266,129 9   79 344,509  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income 34,078                      
Issuance of Class A common stock upon settlement of restricted stock units, net of shares withheld for tax (shares)     11,000                  
Foreign currency translation adjustment (474)                      
Ending balance (in shares) at Jun. 30, 2021         131,090 110,638            
Ending balance at Jun. 30, 2021 622,326       $ 131 $ 111 295,785 2,733   18 323,548  
Beginning balance (in shares) at Mar. 31, 2021         127,546 113,915            
Beginning balance at Mar. 31, 2021 618,727       $ 128 $ 114 283,505 5,088   18 329,874  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income 9,684             4,361     5,323  
Equity-based compensation expense 7,528           6,906       622  
Issuance of Class A common stock upon settlement of restricted stock units, net of shares withheld for tax (shares)         21              
Issuance of Class A common stock upon settlement of restricted stock units, net of shares withheld for tax (153)           (777)       624  
Issuance of Class A common stock upon exercise of stock options (in shares)         181              
Issuance of Class A common stock upon exercise of stock options 3,070           1,232       1,838  
Issuance of restricted stock awards (in shares)         65              
Dividends declared (6,716)             (6,716)        
Distributions to noncontrolling interest (5,532)                   (5,532)  
Exchanges of noncontrolling interest for Class A common stock (in shares)         3,277 (3,277)            
Exchanges of noncontrolling interest for Class A common stock         $ 3 $ (3) 9,201       (9,201)  
Recognition of tax receivable agreement liability resulting from exchanges of noncontrolling interest for Class A common stock (14,973)           (14,973)          
Net deferred tax asset resulting from changes in outside basis difference on investment in Switch, Ltd. 10,691           10,691          
Foreign currency translation adjustment 0                      
Ending balance (in shares) at Jun. 30, 2021         131,090 110,638            
Ending balance at Jun. 30, 2021 $ 622,326       $ 131 $ 111 $ 295,785 $ 2,733   $ 18 $ 323,548  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Dividends declared (in dollars per share) $ 0.05