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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 27,493 $ 48,325
Restricted cash 1,890 1,890
Accounts receivable, net of allowance for credit losses of $363 and $361, respectively 24,774 18,368
Prepaid expenses 11,457 10,265
Other current assets, net of allowance for credit losses of $3 4,627 4,624
Total current assets 70,241 83,472
Property and equipment, net 2,317,408 2,237,059
Long-term deposit 15,222 13,504
Deferred income taxes 306,753 295,699
Intangible assets, net 124,354 125,758
Goodwill 106,350 106,350
Other assets, net of allowance for credit losses of $94 and $91, respectively 59,097 56,776
TOTAL ASSETS 2,999,425 2,918,618
CURRENT LIABILITIES:    
Long-term debt, current portion 4,000 4,000
Accounts payable 21,813 55,262
Accrued salaries and benefits 8,316 6,786
Accrued interest 7,822 8,577
Accrued expenses and other 16,580 18,285
Accrued construction payables 32,580 31,093
Deferred revenue, current portion 21,163 16,905
Customer deposits 16,707 16,335
Swap liability, current portion 2,846 8,062
Operating lease liability, current portion 2,705 3,281
Total current liabilities 134,532 168,586
Long-term debt, net 1,711,433 1,611,962
Operating lease liability 31,467 32,157
Finance lease liability 57,346 57,376
Deferred revenue 25,507 25,921
Liabilities under tax receivable agreement 412,456 395,615
Other long-term liabilities 969 8,360
TOTAL LIABILITIES 2,373,710 2,299,977
Commitments and contingencies (Note 6)
STOCKHOLDERS’ EQUITY:    
Preferred stock, $0.001 par value per share, 10,000 shares authorized, none issued and outstanding 0 0
Additional paid in capital 357,286 352,984
Accumulated deficit (18,188) (23,022)
Accumulated other comprehensive loss (568) (568)
Total Switch, Inc. stockholders’ equity 338,775 329,637
Noncontrolling interest 286,940 289,004
TOTAL STOCKHOLDERS’ EQUITY 625,715 618,641
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 2,999,425 2,918,618
Class A Common Stock    
STOCKHOLDERS’ EQUITY:    
Class A common stock, $0.001 par value per share, 750,000 shares authorized, 148,846 and 145,187 shares issued and outstanding, respectively 149 145
Class B Common Stock    
STOCKHOLDERS’ EQUITY:    
Class A common stock, $0.001 par value per share, 750,000 shares authorized, 148,846 and 145,187 shares issued and outstanding, respectively 96 98
Class C Common Stock    
STOCKHOLDERS’ EQUITY:    
Class A common stock, $0.001 par value per share, 750,000 shares authorized, 148,846 and 145,187 shares issued and outstanding, respectively $ 0 $ 0