Equinix (EQIX) 10-Q 30 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2015shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	EQIX
Entity Registrant Name	EQUINIX INC
Entity Central Index Key	1,101,239
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	57,285,666

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 335,469	$ 610,917
Short-term investments		529,395
Accounts receivable, net	293,125	262,570
Current portion of restricted cash	493,425	3,057
Other current assets	120,004	85,004
Total current assets	1,242,023	1,490,943
Long-term investments	4,077	439
Property, plant and equipment, net	5,218,595	4,998,270
Goodwill	983,530	1,002,129
Intangible assets, net	123,454	147,527
Restricted cash, less current portion	10,464	14,060
Other assets	123,523	128,610
Total assets	7,705,666	7,781,978
Current liabilities:
Accounts payable and accrued expenses	340,366	285,796
Accrued property, plant and equipment	131,607	114,469
Current portion of capital lease and other financing obligations	26,775	21,362
Current portion of mortgage and loans payable	55,024	59,466
Current portion of convertible debt	151,535
Dividends payable	640,063	4,559
Other current liabilities	118,744	158,105
Total current liabilities	1,464,114	643,757
Capital lease and other financing obligations, less current portion	1,198,581	1,168,042
Mortgage and loans payable, less current portion	484,049	532,809
Convertible debt, less current portion		145,229
Senior notes	2,720,448	2,717,046
Other liabilities	349,821	304,964
Total liabilities	$ 6,217,013	$ 5,511,847
Commitments and contingencies (Note 8)
Stockholders' equity:
Common stock	$ 57	$ 57
Additional paid-in capital	3,467,143	3,334,305
Treasury stock	(9,913)	(11,411)
Accumulated dividends	(1,361,675)	(424,387)
Accumulated other comprehensive loss	(488,012)	(332,443)
Accumulated deficit	(118,947)	(295,990)
Total stockholders' equity	1,488,653	2,270,131
Total liabilities and stockholders' equity	$ 7,705,666	$ 7,781,978

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Revenues	$ 686,649	$ 620,441	$ 1,995,405	$ 1,805,655
Costs and operating expenses:
Cost of revenues	325,468	304,052	939,538	884,436
Sales and marketing	83,709	72,185	243,573	214,867
General and administrative	123,237	109,354	356,455	324,332
Acquisition costs	13,352	(281)	24,374	580
Total costs and operating expenses	545,766	485,310	1,563,940	1,424,215
Income from operations	140,883	135,131	431,465	381,440
Interest income	934	356	2,375	2,534
Interest expense	(76,269)	(63,756)	(219,556)	(199,450)
Other income (expense)	(12,836)	1,811	(11,964)	3,170
Loss on debt extinguishment				(51,183)
Income from operations before income taxes	52,712	73,542	202,320	136,511
Income tax expense	(11,580)	(30,581)	(25,277)	(42,134)
Net income	41,132	42,961	177,043	94,377
Net (income) loss attributable to redeemable non-controlling interests		(120)		1,179
Net income attributable to Equinix	$ 41,132	$ 42,841	$ 177,043	$ 95,556
Earnings per share ("EPS") attributable to Equinix:
Basic EPS	$ 0.72	$ 0.81	$ 3.11	$ 1.86
Weighted-average shares	57,082	53,137	56,894	51,369
Diluted EPS	$ 0.71	$ 0.79	$ 3.08	$ 1.84
Weighted-average shares	57,708	55,238	57,521	54,502

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 41,132	$ 42,961	$ 177,043	$ 94,377
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment ("CTA") loss	(72,677)	(144,994)	(149,546)	(106,943)
Unrealized gain (loss) on available-for-sale securities	(21)	(862)	99	(97)
Unrealized gain (loss) on cash flow hedges	3,309	4,194	(425)	4,448
Net investment hedge CTA gain (loss)	4,426		(5,963)
Defined benefit plans	124		266
Total other comprehensive loss, net of tax	(64,839)	(141,662)	(155,569)	(102,592)
Comprehensive income (loss), net of tax	(23,707)	(98,701)	21,474	(8,215)
Net (income) loss attributable to redeemable non-controlling interests		(120)		1,179
Other comprehensive (income) loss attributable to redeemable non-controlling interests		1,007		(1,810)
Comprehensive income (loss) attributable to Equinix	$ (23,707)	$ (97,814)	$ 21,474	$ (8,846)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income	$ 177,043	$ 94,377
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	362,069	328,774
Stock-based compensation	98,575	86,473
Excess tax benefits from stock-based compensation	(1,663)	(17,457)
Amortization of intangible assets	19,346	20,953
Amortization of debt issuance costs and debt discounts	11,557	14,840
Provision for allowance for doubtful accounts	4,187	5,326
Loss on debt extinguishment		51,183
Other items	12,825	14,684
Changes in operating assets and liabilities:
Accounts receivable	(42,002)	(104,394)
Income taxes, net	(84,523)	(69,173)
Other assets	(30,829)	6,128
Accounts payable and accrued expenses	75,219	27,110
Other liabilities	57,871	28,299
Net cash provided by operating activities	659,675	487,123
Cash flows from investing activities:
Purchases of investments	(338,440)	(136,516)
Sales of investments	826,486	550,355
Maturities of investments	35,431	207,341
Business acquisitions, net of cash acquired	(10,247)
Purchases of real estate	(38,282)	(16,791)
Purchases of other property, plant and equipment	(587,508)	(421,726)
Changes in restricted cash	(493,371)	1,579
Other investing activities, net		(170)
Net cash provided by (used in) investing activities	(605,931)	184,072
Cash flows from financing activities:
Purchases of treasury stock		(297,958)
Proceeds from employee equity awards	29,855	28,183
Excess tax benefits from stock-based compensation	1,663	17,457
Payment of dividends	(291,009)
Proceeds from loans payable	490,000	8,826
Repayment of convertible debt		(29,479)
Repayment of capital lease and other financing obligations	(20,213)	(13,140)
Repayment of mortgage and loans payable	(529,447)	(37,510)
Debt extinguishment costs		(22,552)
Debt issuance costs	(617)
Purchase of redeemable non-controlling interests		(226,276)
Net cash used in financing activities	(319,768)	(572,449)
Effect of foreign currency exchange rates on cash and cash equivalents	(9,424)	(6,459)
Net increase (decrease) in cash and cash equivalents	(275,448)	92,287
Cash and cash equivalents at beginning of period	610,917	261,894
Cash and cash equivalents at end of period	$ 335,469	$ 354,181

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	1. Basis of Presentation and Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by Equinix, Inc. (“Equinix” or the “Company”) and reflect all adjustments, consisting only of normal recurring adjustments, which in the opinion of management are necessary to fairly state the financial position and the results of operations for the interim periods presented. The condensed consolidated balance sheet data as of December 31, 2014 has been derived from audited consolidated financial statements as of that date. The consolidated financial statements have been prepared in accordance with the regulations of the Securities and Exchange Commission (“SEC”), but omit certain information and footnote disclosure necessary to present the statements in accordance with generally accepted accounting principles in the United States of America (“GAAP”). For further information, refer to the Consolidated Financial Statements and Notes thereto included in Equinix’s Form 10-K as filed with the SEC on March 2, 2015. Results for the interim periods are not necessarily indicative of results for the entire fiscal year. Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of Equinix and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Income Taxes In September 2012, the Company announced that its Board of Directors approved a plan for Equinix to pursue conversion to a real estate investment trust (“REIT”). On December 23, 2014, its Board of Directors formally approved its conversion to a REIT effective on January 1, 2015. The Company completed the implementation of the REIT conversion in 2014, and as a result, the Company has elected to be treated as a REIT for federal income tax purposes effective January 1, 2015. In May 2015, the Company received a favorable response to the private letter ruling (“PLR”) it had requested from the U.S. Internal Revenue Service (“IRS”) in connection with the Company’s conversion to a REIT for federal income tax purposes. As a result, the Company may deduct the distributions made to its shareholders from taxable income generated by the Company and its Qualified REIT Subsidiaries (“QRSs”). The Company’s dividends paid deduction generally eliminates the taxable income of the Company and its QRSs, resulting in no U.S. income tax due. However, the Taxable REIT Subsidiaries (“TRSs”) will continue to be subject to income taxes on any taxable income generated by them. In addition, the foreign operations of the Company will continue to be subject to local income taxes regardless of whether the foreign operations are operated as a QRS or a TRS. The Company provides for income taxes during interim periods based on the estimated effective tax rate for the year. The effective tax rate is subject to change in the future due to various factors such as the operating performances of the Company, tax law changes and future business acquisitions. The Company’s effective tax rates were 12.5% and 30.9% for the nine months ended September 30, 2015 and 2014, respectively. The decrease in the effective tax rate is primarily due to the reduced tax rate as a result of the REIT conversion. As a REIT, the Company is entitled to a deduction for dividends paid, resulting in a substantial reduction of federal income tax expense. Recent Accounting Pronouncements In September 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-16, Business Combinations, to simplify accounting for adjustments made to provisional amounts recognized in a business combination by eliminating the requirement to retrospectively account for those adjustments. This ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years, with early adoption permitted. The amendments in this ASU require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization or other income effects as a result of changes to provisional amounts, calculated as if the accounting had been completed at the acquisition date. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements. In May 2015, the FASB issued ASU 2015-07, Fair Value Measurement (“ASU 2015-07”), which permits a reporting entity, as a practical expedient, to measure the fair value of certain investments using the net asset value per share of the investment. This ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years with early adoption permitted. A reporting entity should apply the amendment retrospectively to all periods presented. The retrospective approach requires that an investment for which fair value is measured using the net asset value per share practical expedient be removed from the fair value hierarchy in all periods presented in an entity’s financial statements. The Company does not believe the adoption of ASU 2015-07 will have a significant impact on its consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Interest – Imputation of Interest (“ASU 2015-03”), to simplify the presentation of debt issuance costs. The ASU requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability, consistent with debt discounts or premiums. The recognition and measurement guidance for debt issuance costs is not affected by this ASU. This ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within fiscal years beginning after December 15, 2016, with early adoption permitted. In August 2015, the FASB issued ASU 2015-15, Interest – Imputation of Interest Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements (“ASU 2015-15”), which amends ASU 2015-03 and provides guidance for the presentation of debt issuance costs associated with line-of-credit arrangements. ASU 2015-15 provides that debt issuance costs associated with line-of-credit arrangements may be presented in the balance sheet as assets. The Company adopted ASU 2015-03 and ASU 2015-15 in the three months ended September 30, 2015. As a result of the adoption of ASU 2015-03 the Company reclassified debt issuance costs of $35,455,000 at December 31, 2014 and $31,448,000 at September 30, 2015 from other assets to debt. In February 2015, the FASB issued ASU 2015-02, Consolidations (“ASU 2015-02”). This ASU requires companies to adopt a new consolidation model, specifically: (1) the ASU modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities; (2) the ASU eliminates the presumption that a general partner should consolidate limited partnership; (3) the ASU affects the consolidation analysis of reporting entities involved with VIEs and (4) the ASU provides a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. This ASU is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements. In January 2015, FASB issued ASU 2015-01, Income Statement – Extraordinary and Unusual Items (“ASU 2015-01”), to simplify the income statement presentation requirements by eliminating the concept of extraordinary items. ASU 2015-01 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company does not believe the adoption of ASU 2015-01 will have a significant impact on its consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), to provide guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016, with early adoption permitted. The Company does not believe the adoption of ASU 2014-15 will have a significant impact on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). This ASU requires companies to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which companies expect to be entitled in exchange for those goods or services. This ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. This ASU was originally effective for fiscal years and interim periods beginning after December 15, 2016. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (“ASU 2015-14”), which amends ASU 2014-09 and defers its effective date to fiscal years and interim reporting periods beginning after December 15, 2017. ASU 2015-14 permits earlier application only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	2. Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the periods presented (in thousands, except per share amounts): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Net income $ 41,132 $ 42,961 $ 177,043 $ 94,377 Net (income) loss attributable to redeemable non-controlling interests — (120 ) — 1,179 Net income attributable to Equinix, basic 41,132 42,841 177,043 95,556 Effect of assumed conversion of convertible debt: Interest expense, net of tax — 885 — 4,862 Net income attributable to Equinix, basic and diluted $ 41,132 $ 43,726 $ 177,043 $ 100,418 Weighted-average shares used to calculate basic EPS 57,082 53,137 56,894 51,369 Effect of dilutive securities: Convertible debt — 1,621 — 2,673 Employee equity awards 626 480 627 460 Weighted-average shares used to calculate diluted EPS 57,708 55,238 57,521 54,502 EPS attributable to Equinix: Basic EPS $ 0.72 $ 0.81 $ 3.11 $ 1.86 Diluted EPS $ 0.71 $ 0.79 $ 3.08 $ 1.84 The following table sets forth weighted-average outstanding potential shares of common stock that are not included in the diluted earnings per share calculation above because to do so would be anti-dilutive for the periods indicated (in thousands): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Shares reserved for conversion of 4.75% convertible subordinated notes 1,970 1,873 1,956 3,042 Common stock related to employee equity awards 201 156 117 176 2,171 2,029 2,073 3,218

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Acquisitions	3. Acquisitions Nimbo Acquisition On January 14, 2015, the Company acquired all of the issued and outstanding share capital of Nimbo Technologies Inc. (“Nimbo”), a company which specializes in migrating business applications to the cloud with extensive experience moving legacy applications into a hybrid cloud architecture, and connecting legacy data centers to the cloud, for a cash payment of $10,000,000 and a contingent earn-out arrangement to be paid over two years (the “Nimbo Acquisition”). Nimbo continues to operate under the Nimbo name. The Nimbo Acquisition was accounted for using the acquisition method. As a result of the Nimbo Acquisition, the Company recorded goodwill of $17,154,000, which represents the excess of the total purchase price over the fair value of the assets acquired and liabilities assumed. The Company recorded the contingent earn-out arrangement at its estimated fair value. The results of operations for Nimbo are not significant to the Company; therefore, the Company does not present its purchase price allocation or pro forma combined results of operations. In addition, any prospective changes in the Company’s earn-out estimates are not expected to have a material effect on the Company’s consolidated statement of operations. Offer for TelecityGroup On May 29, 2015, the Company announced a cash and share offer for the entire issued and to be issued share capital of Telecity Group plc (“TelecityGroup”) for total consideration of approximately £2,351,900,000 or $3,594,409,000. The consummation of the transaction is subject to the satisfaction of certain conditions, including the receipt of regulatory approval, as further described in “Risk Factors”. The Company expects to close this transaction in the first half of 2016. As the offer to TelecityGroup includes an element of cash, the Company is required to include a confirmation that the Company has sufficient cash available to fulfill the offer, according to the UK Takeover Code. As a result, the Company placed £322,851,000 or approximately $493,801,000 into a restricted cash account, which was included in the current portion of restricted cash in its condensed consolidated balance sheet. Also, during the three months ended September 30, 2015, the Company entered into various option and forward contracts for the purposes of hedging a portion of the purchase price of the TelecityGroup Acquisition which resulted in a mark-to-market foreign currency loss of $11,636,000 for the three and nine months ended September 30, 2015 recorded in other income (expense) in the accompanying Statements of Operations. In addition, the Company entered into a bridge credit agreement with J.P. Morgan Chase Bank, N.A. (“JPMCB”) as the initial lender and as administrative agent for the lenders from time to time party thereto (the “Lenders”) for a principal amount of £875,000,000 or approximately $1,340,000,000 (the “Bridge Loan”). The Bridge Loan has an initial maturity of 12 months from the date of the first drawdown and, at the initial maturity date (if not repaid prior to that time), will be converted into seven-year extended bridge loans. The total estimated initial commitment fees associated with the Bridge Loan are approximately £4,375,000 or $6,701,000 at the exchange rate in effect on May 28, 2015, and will be paid on the earlier of the consummation of the acquisition and the termination of the Bridge Loan. As of September 30, 2015, the Company had accrued commitment fees of approximately $4,970,000 associated with the Bridge Loan in interest expense in its condensed consolidated statement of operations. The Bridge Loan bears interest during the first three months in which the funds are advanced, at an initial annual rate of LIBOR plus 5.00%. Thereafter, the rate for each subsequent three-month period increases by 0.5% over the applicable margin in effect for the immediately preceding three-month period, subject to a cap (the “Total Cap”). Prior to February 28, 2016, the Total Cap is equal to 1.50% plus the greatest of (i) the yield on the Company’s 5.750% senior notes due 2025, (ii) the yield on the J.P. Morgan US Dollar Global High Yield Index minus 1.21% and (iii) 4.875%. On and after February 28, 2016, the Total Cap is equal to 1.75% plus the greatest of (i) the yield on the Company’s 5.750% senior notes due 2025, (ii) the yield on the J.P. Morgan US Dollar Global High Yield Index minus 1.21% and (iii) 4.875%. Under certain circumstances the Bridge Loan will bear interest at the Total Cap as determined weekly. The Bridge Loan is unsecured and is guaranteed by certain of the Company’s domestic subsidiaries. As of September 30, 2015, the Company had not made any advances on the Bridge Loan. The Company intends to obtain permanent financing prior to the closing of the TelecityGroup acquisition to replace and terminate the Bridge Loan. Offer for Bit-isle On September 8, 2015, the Company announced that, acting through its Japanese subsidiary, it had commenced a cash tender offer for all issued and outstanding shares of Tokyo-based Bit-isle Inc. (“Bit-isle”). The offer price was ¥922.0 per share, in an all cash transaction totaling ¥33,300,000,000 or approximately $280,000,000. The tender offer period ran from September 9, 2015 to October 26, 2015. The offer was conditioned on, among other things, the tender by Bit-isle shareholders of more than 66 2/3% of the Bit-isle shares and approximately 97% of shares (including stock options) were tendered. The Company will move forward to acquire the remaining shares under Japanese corporate law. The Company expects to complete the acquisition by the end of 2015. On September 30, 2015, the Company, acting through its Japanese subsidiaries, as borrowers, entered into a Term Loan Agreement (the “Bridge Term Loan Agreement”) with The Bank of Tokyo-Mitsubishi UFJ, Ltd. (“BTMU”). Pursuant to the Bridge Term Loan Agreement, BTMU has committed to provide a senior bridge term loan facility (the “Bridge Term Loan”) in the amount of up to ¥47,500,000,000, or approximately $395,833,000, at the exchange rate in effect on September 30, 2015. Proceeds from the Bridge Term Loan are to be used exclusively for the acquisition of Bit-isle, the repayment of Bit-isle’s existing debt and transaction costs incurred in connection with the closing of the Bridge Term Loan and the acquisition of Bit-isle. As of September 30, 2015, there have been no borrowings on the Bridge Term Loan. In October 2015, Company had the first draw down of JPY27,260,000,000 or approximately $226,940,000, at the exchange rate in effect on September 30, 2015 in preparation of closing the transaction. The Bridge Term Loan is due one year after borrowing the first tranche. Borrowings under the Bridge Loan will bear interest at the Tokyo Interbank Offered Rate for Japanese Yen, plus a margin of 0.4% per annum for the first ten months following the borrowing of the first tranche of the Bridge Loan, which margin increases to 1.75% per annum thereafter. The Company intends to obtain permanent financing to replace and terminate the Bridge Term Loan prior to the maturity date.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	4. Derivatives and Hedging Activities Derivatives Designated as Hedging Instruments Net Investment Hedges. Cash Flow Hedges. Effective January 1, 2015, the Company entered into intercompany derivative hedging instruments (“intercompany derivatives”) with a wholly-owned subsidiary of the Company and simultaneously entered into derivative contracts with unrelated parties to hedge certain forecasted revenues and expenses denominated in currencies other than the U.S. dollar. The following disclosure is prepared on a consolidated basis; intercompany assets and liabilities resulting from intercompany derivatives are eliminated in consolidation. As of September 30, 2015, the Company’s cash flow hedges had maturities within 1 month to 2.25 years, as follows (in thousands): Notional Fair Value (1) Accumulated other Derivative assets $ 345,806 $ 11,171 $ 23,874 Derivative liabilities 92,137 (2,310 ) (15,637 ) $ 437,943 $ 8,861 $ 8,237 (1) All derivative assets related to cash flow hedges are included in the condensed consolidated balance sheets within other current assets, other assets, other current liabilities and other liabilities. (2) Included in the condensed consolidated balance sheets within accumulated other comprehensive income (loss). (3) The Company recorded a net gain of $8,112 within accumulated other comprehensive income (loss) relating to cash flow hedges that will be reclassified to revenue and expenses as they mature in the next 12 months. As of December 31, 2014, the Company’s cash flow hedges had maturities within 1 month to 1 year as follows (in thousands): Notional Fair Value (1) Accumulated other Derivative assets $ 281,055 $ 8,404 $ 8,480 Derivative liabilities — — — $ 281,055 $ 8,404 $ 8,480 (1) All derivative assets related to cash flow hedges are included in the condensed consolidated balance sheets within other current assets, other assets, other current liabilities and other liabilities. (2) Included in the condensed consolidated balance sheets within accumulated other comprehensive income (loss). During the three months ended September 30, 2015 and 2014, there were no ineffective cash flow hedges. During the three months ended September 30, 2015, the amount of gains reclassified from accumulated other comprehensive income (loss) to revenue were $5,590,000 and the amount of net losses reclassified from accumulated other comprehensive income (loss) to operating expenses were insignificant. During the three months ended September 30, 2014, the amount of gains (losses) reclassified from accumulated other comprehensive income (loss) to revenue and operating expenses were not significant. During the nine months ended September 30, 2015 and 2014, there were no ineffective cash flow hedges. During the nine months ended September 30, 2015, gains of $21,096,000 were reclassified from accumulated other comprehensive income (loss) to revenue and net losses of $4,167,000 were reclassified from accumulated other comprehensive income (loss) to operating expenses. During the nine months ended September 30, 2014, net gains (losses) reclassified from accumulated other income (loss) to revenues and operating expenses were not significant. Derivatives Not Designated as Hedging Instruments Embedded Derivatives Economic Hedges of Embedded Derivatives. Foreign Currency Forward and Option Contracts. Offsetting Derivative Assets and Liabilities The following table presents the fair value of derivative instruments recognized in the Company’s condensed consolidated balance sheets as of September 30, 2015 (in thousands): Gross Gross Net amounts Gross Net Assets: Designated as hedging instruments: Foreign currency forward contracts $ 11,171 $ — $ 11,171 $ (2,310 ) $ 8,861 Not designated as hedging instruments: Embedded derivatives 10,411 — 10,411 — 10,411 Economic hedges of embedded derivatives 17 — 17 (17 ) — Foreign currency forward and option contracts 18,942 — 18,942 (10,655 ) 8,287 29,370 — 29,370 (10,672 ) 18,698 Additional netting benefit — — — (4,223 ) (4,223 ) $ 40,541 $ — $ 40,541 $ (17,205 ) $ 23,336 Liabilities: Designated as hedging instruments: Foreign currency forward contracts $ 2,310 $ — $ 2,310 $ (2,310 ) $ — Not designated as hedging instruments: Embedded derivatives 1,649 — 1,649 — 1,649 Economic hedges of embedded derivatives 194 — 194 (17 ) 177 Foreign currency forward and option contracts 15,182 — 15,182 (10,655 ) 4,527 17,025 — 17,025 (10,672 ) 6,353 Additional netting benefit — — — (4,223 ) (4,223 ) $ 19,335 $ — $ 19,335 $ (17,205 ) $ 2,130 (1) As presented in the Company’s condensed consolidated balance sheets within other current assets, other assets, other current liabilities and other liabilities. (2) The Company enters into master netting agreements with its counterparties for transactions other than embedded derivatives to mitigate credit risk exposure to any single counterparty. Master netting agreements allow for individual derivative contracts with a single counterparty to offset in the event of default. The following table presents the fair value of derivative instruments recognized in the Company’s condensed consolidated balance sheets as of December 31, 2014 (in thousands): Gross Gross Net balance Gross Net Assets: Designated as hedging instruments: Foreign currency forward contracts $ 8,404 $ — $ 8,404 $ — $ 8,404 Not designated as hedging instruments: Embedded derivatives 9,182 — 9,182 — 9,182 Foreign currency forward and option contracts 5,153 — 5,153 (138 ) 5,015 14,335 — 14,335 (138 ) 14,197 Additional netting benefit — — — (508 ) (508 ) $ 22,739 $ — $ 22,739 $ (646 ) $ 22,093 Liabilities: Designated as hedging instruments: Foreign currency forward contracts $ — $ — $ — $ — $ — Not designated as hedging instruments: Embedded derivatives 4 — 4 — 4 Economic hedges of embedded derivatives 390 — 390 — 390 Foreign currency forward and option contracts 416 — 416 (138 ) 278 810 — 810 (138 ) 672 Additional netting benefit — — — (508 ) (508 ) $ 810 $ — $ 810 $ (646 ) $ 164 (1) As presented in the Company’s condensed consolidated balance sheets within other current assets, other assets, other current liabilities and other liabilities. (2) The Company enters into master netting agreements with its counterparties for transactions other than embedded derivatives to mitigate credit risk exposure to any single counterparty. Master netting agreements allow for individual derivative contracts with a single counterparty to offset in the event of default.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements The Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2015 were as follows (in thousands): Fair value at 2015 Fair value Level 1 Level 2 Assets (1): Money market and deposit accounts $ 8,020 $ 8,020 $ — Certificates of deposit 4,077 — 4,077 Derivative instruments (2) 40,541 — 40,541 $ 52,638 $ 8,020 $ 44,618 Liabilities: Derivative instruments (2) $ 19,335 $ — $ 19,335 $ 19,335 $ — $ 19,335 (1) Excludes cash and restricted cash. (2) Includes both foreign currency embedded derivatives and foreign currency forward contracts. Amounts are included within other current asset, other assets, others current liabilities and other liabilities in the Company’s accompanying consolidated condensed balance sheet. The Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2014 were as follows (in thousands): Fair value at 2014 Fair value measurement using Level 1 Level 2 Assets (1): Money market and deposit accounts $ 402,964 $ 402,964 $ — U.S. government securities 336,440 336,440 — U.S. government agency securities 192,955 — 192,955 Certificates of deposit 439 — 439 Derivative instruments (2) 22,739 — 22,739 $ 955,537 $ 739,404 $ 216,133 Liabilities: Derivative instruments (2) $ 810 $ — $ 810 $ 810 $ — $ 810 (1) Excludes cash and restricted cash (2) Includes embedded derivatives and foreign currency forward contracts. Amounts are included within other current assets, other assets, other current liabilities and other liabilities in the Company’s accompanying condensed consolidated balance sheet. The Company did not have any significant Level 3 financial assets or financial liabilities as of September 30, 2015 and December 31, 2014.

Leases

Leases	9 Months Ended
	Sep. 30, 2015
Leases [Abstract]
Leases	6. Leases Capital Lease and Other Financing Obligations Atlanta 1 Capital Lease In May 2015, the Company entered into a lease amendment to extend the lease term of the Company’s Atlanta 1 IBX (the “AT1 Lease”). The lease was originally accounted for as an operating lease. Pursuant to the accounting standard for leases, the Company reassessed the lease classification of the AT1 Lease as a result of the lease amendment and determined that upon the amendment the lease should be accounted for as a capital lease. The Company recorded a capital lease asset and liability totaling approximately $21,274,000 during the three months ended June 30, 2015. The lease term was extended to September 2035. Atlanta 2 Capital Lease In January 2015, the Company entered into a lease amendment to extend the lease term of the Company’s Atlanta 2 IBX (the “AT2 Lease”). The lease was originally accounted for as an operating lease. Pursuant to the accounting standard for leases, the Company reassessed the lease classification of the AT2 Lease as a result of the lease amendment and determined that upon the amendment the lease should be accounted for as a capital lease. The Company recorded a capital lease asset totaling approximately $25,960,000 and a capital lease liability totaling approximately $26,230,000 during the three months ended March 31, 2015. The lease term, including a renewal option, was extended to December 2024. Maturities of Capital Lease and Other Financing Obligations The Company’s capital lease and other financing obligations are summarized as follows (in thousands): Capital lease Other Total 2015 (3 months remaining) $ 18,735 $ 13,638 $ 32,373 2016 68,032 55,761 123,793 2017 70,086 58,794 128,880 2018 72,151 60,231 132,382 2019 74,063 58,412 132,475 Thereafter 904,734 559,075 1,463,809 Total minimum lease payments 1,207,801 805,911 2,013,712 Plus amount representing residual property value — 408,683 408,683 Less estimated building costs — (4,580 ) (4,580 ) Less amount representing interest (573,481 ) (618,978 ) (1,192,459 ) Present value of net minimum lease payments 634,320 591,036 1,225,356 Less current portion (18,399 ) (8,376 ) (26,775 ) $ 615,921 $ 582,660 $ 1,198,581 1. Other financing obligations are primarily build-to-suit lease obligations.

Debt Facilities

Debt Facilities	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt Facilities	7. Debt Facilities Mortgage and Loans Payable The Company’s mortgage and loans payable consisted of the following (in thousands): September 30, December 31, Term loan $ 475,631 $ 500,000 ALOG financings (1) 32,766 56,863 Mortgage payable and other loans payable 31,505 36,608 539,902 593,471 Less amount representing debt discount and debt issuance cost (2) (2,891 ) (3,477 ) Plus amount representing mortgage premium 2,062 2,281 539,073 592,275 Less current portion (55,024 ) (59,466 ) $ 484,049 $ 532,809 (1) ALOG Data Centers do Brasil S.A. (2) The Company adopted ASU 2015-03 during the three months ended September 30, 2015. As a result, debt issuance costs of $1,594,000 and $1,877,000 were reclassified from other assets to debt as of September 30, 2015 and December 31, 2014, respectively. On April 30, 2015, the Company, as borrower, and certain subsidiaries as guarantors entered into an amendment (the “Amendment”) to its credit agreement dated December 17, 2014 (the “Original Credit Agreement” and, as amended, the “Amended Credit Agreement”). The Original Credit Agreement provided for a senior credit facility of $1,500,000,000, comprised of (i) a $1,000,000,000 senior secured multi-currency revolving credit facility and (ii) a $500,000,000 senior secured term loan facility (the “Term Loan Facility”). The Amended Credit Agreement facilitated the conversion of the outstanding U.S. dollar-denominated principal amount of the Term Loan Facility to an approximately equivalent amount denominated in four foreign currencies. In connection with the execution of the Amended Credit Agreement, on April 30, 2015 the Company prepaid the U.S. dollar-denominated $490,000,000 principal balance of the Term Loan Facility and immediately re-borrowed under the Term Loan Facility the aggregate principal amounts of CHF 47,780,000, €184,945,000, £92,586,000 and ¥11,924,000,000, or approximately $490,000,000. The Company accounted for this transaction as a debt modification. The Company did not incur any gains or losses relating to the debt modification. The Company will repay the Term Loan Facility in equal quarterly installments on the last business day of each March, June, September and December, commencing on June 30, 2015, equal to the amount of 2.00% of the result of the respective Term Loan Facility on April 30, 2015 divided by 0.98. The remaining principal amount will be paid on the maturity date of the Term Loan Facility. Convertible Debt The Company’s convertible debt consisted of the following (in thousands): September 30, December 31, 4.75% convertible subordinated notes $ 157,885 $ 157,885 Less amount representing debt discount and debt issuance cost (1) (6,350 ) (12,656 ) $ 151,535 $ 145,229 (1) The Company adopted ASU 2015-03 during the three months ended September 30, 2015. As a result, debt issuance costs of $303,000 and $624,000 were reclassified from other assets to debt as of September 30, 2015 and December 31, 2014, respectively. 4.75% Convertible Subordinated Notes Holders of the 4.75% convertible subordinated notes were eligible to convert their notes during the quarter ended September 30, 2015 and are eligible to convert their notes during the three months ending December 31, 2015, since the stock price condition conversion clause was met during the applicable periods. As of September 30, 2015, had the holders of the 4.75% convertible subordinated notes converted their notes, the 4.75% convertible subordinated notes would have been convertible into a maximum of 1,976,736 shares of the Company’s common stock. The 4.75% convertible subordinated notes are scheduled to mature on June 15, 2016. Upon maturity (and assuming that no conversion occurs prior to such maturity), the Company will be obligated to settle any outstanding principal amount of the notes and accrued interest in cash. In addition, should conversion occur prior to maturity, the Company may, at its election, settle the obligation either in cash, stock or a combination of cash and stock. To minimize the impact of potential dilution upon conversion of the 4.75% convertible subordinated notes, the Company entered into capped call transactions (the “Capped Call”) separate from the issuance of the 4.75% convertible subordinated notes and paid a premium of $49,664,000 for the Capped Call in 2009. The Capped Call covers a total of approximately 4,432,638 shares of the Company’s common stock, subject to adjustment. Under the Capped Call, the Company effectively raised the conversion price of the 4.75% convertible subordinated notes from $84.32 to $114.82. Pursuant to the declaration of the quarterly dividend in July 2015, the Company further amended the Capped Call agreement to adjust the effective conversion price of the 4.75% convertible subordinated notes from $79.87 to $108.68 per share of common stock. Depending upon the Company’s stock price at the time the 4.75% convertible subordinated notes are redeemed, the settlement of the Capped Call will result in a delivery of up to 1,240,460 shares of the Company’s common stock to the Company; however, the Company will receive no benefit from the Capped Call if the Company’s stock price is $79.87 or lower at the time of conversion and will receive less shares than the 1,240,460 share maximum as described above for share prices in excess of $108.68 at the time of conversion than it would have received at a share price of $108.68 (the Company’s benefit from the Capped Call is capped at $108.68 and the benefit received begins to decrease above this price). Senior Notes The Company’s senior notes consisted of the following as of (in thousands): September 30, December 31, 5.375% Senior Notes due 2023 $ 1,000,000 $ 1,000,000 5.375% Senior Notes due 2022 750,000 750,000 4.875% Senior Notes due 2020 500,000 500,000 5.75% Senior Notes due 2025 500,000 500,000 2,750,000 2,750,000 Less amount representing debt issuance cost (1) (29,552 ) (32,954 ) $ 2,720,448 $ 2,717,046 (1) The Company adopted ASU 2015-03 during the three months ended September 30, 2015, which resulted in a reclass of debt issuance costs from other assets to debt. Maturities of Debt Facilities The following table sets forth maturities of the Company’s debt, including mortgage and loans payable, convertible debt and senior notes and excluding debt discounts and premium as of September 30, 2015 (in thousands): Year ending: 2015 (3 months remaining) $ 16,268 2016 212,791 2017 50,100 2018 46,565 2019 345,401 Thereafter 2,778,724 $ 3,449,849 Fair Value of Debt Facilities The following table sets forth the estimated fair values of the Company’s mortgage and loans payable, senior notes and convertible debt, including current maturities, as of (in thousands): September 30, December 31, Mortgage and loans payable $ 539,187 $ 553,045 Convertible debt 160,600 162,159 Senior notes 2,731,233 2,790,023 The Company has determined that the inputs used to value its debt facilities fall within Level 2 of the fair value hierarchy. Interest Charges The following table sets forth total interest costs incurred and total interest costs capitalized for the periods presented (in thousands): Three months ended Nine months ended 2015 2014 2015 2014 Interest expense $ 76,269 $ 63,756 $ 219,556 $ 199,450 Interest capitalized 1,831 5,565 8,677 13,050 Interest charges incurred $ 78,100 $ 69,321 $ 228,233 $ 212,500

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies Purchase Commitments Primarily as a result of the Company’s various IBX expansion projects, as of September 30, 2015, the Company was contractually committed for $244.7 million of unaccrued capital expenditures, primarily for IBX equipment not yet delivered and labor not yet provided, in connection with the work necessary to open these IBX data centers and make them available to customers for installation. In addition, the Company had numerous other, non-capital purchase commitments in place as of September 30, 2015, such as commitments to purchase power in select locations through the remainder of 2015 and thereafter, and other open purchase orders for goods or services to be delivered or provided during the remainder of 2015 and thereafter. Such other miscellaneous purchase commitments totaled $395.9 million as of September 30, 2015. In connection with the cash and share offer to TelecityGroup, the Company has entered into a cooperation agreement with TelecityGroup to secure the clearances and authorization necessary to satisfy the regulatory pre-condition to the TelecityGroup acquisition. The Company has agreed to pay to TelecityGroup £50,000,000 or approximately $76,415,000 if: (i) on or prior to November 29, 2016, the Company invokes the regulatory approvals condition, or (ii) on November 29, 2016, the regulatory approvals condition is not satisfied or waived by the Company.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Stockholders' Equity	9. Stockholders’ Equity Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss, net of tax, are as follows (in thousands): Balance as of Net Balance as of Foreign currency translation adjustment (“CTA”) gain (loss) $ (336,946 ) $ (149,546 ) $ (486,492 ) Unrealized gain (loss) on cash flow hedges 6,603 (425 ) 6,178 Unrealized gain (loss) on available-for-sale securities (99 ) 99 — Net investment hedge CTA loss — (5,963 ) (5,963 ) Defined benefit plans (2,001 ) 266 (1,735 ) $ (332,443 ) $ (155,569 ) $ (488,012 ) Changes in foreign currency exchange rates can have a significant impact to the Company’s consolidated balance sheets (as evidenced above in the Company’s foreign currency translation gain or loss), as well as its consolidated results of operations, as amounts in foreign currencies are generally translating into more U.S. dollars when the U.S. dollar weakens or less U.S. dollars when the U.S. dollar strengthens. As of September 30, 2015, the U.S. dollar was generally stronger relative to certain of the currencies of the foreign countries in which the Company operates. This overall strength of the U.S. dollar had an overall unfavorable impact on the Company’s consolidated financial position because the foreign denominations translated into less U.S. dollars as evidenced by an increase in foreign currency translation loss for the nine months ended September 30, 2015 as reflected in the above table. In future periods, the volatility of the U.S. dollar as compared to the other currencies in which the Company operates could have a significant impact on its consolidated financial position and results of operations including the amount of revenue that the Company reports in future periods. Dividends In September 2015, the Company’s Board of Directors declared a special distribution of $627,289,000, or approximately $10.95 per share (the “2015 Special Distribution”), to its common stockholders. The 2015 Special Distribution represents an amount that includes the sum of: (1) foreign earnings and profits repatriated as dividend income in 2015; (2) taxable income in 2015 from depreciation recapture in respect of accounting method changes commenced in the Company’s pre-REIT period; and (3) certain other items of taxable income. The Company expects that the value of the 2015 Special Distribution, plus all of its other distributions during 2015, will equal or exceed the taxable income the Company expects to recognize in 2015. The 2015 Special Distribution is payable on November 10, 2015 to the Company’s common stockholders of record as of the close of business on October 8, 2015. Common stockholders can elect to receive payment of the 2015 Special Distribution in the form of stock or cash, with total cash payment to all stockholders limited to no more than $125.4 million, or 20% of the total distribution. The amount of common stock to be distributed will be determined based upon the average closing price of the common stock on the three consecutive trading days commencing November 3, 2015. On July 29, 2015, the Company declared a quarterly cash dividend of $1.69 per share, with a record date of August 26, 2015 and a payment date of September 16, 2015. The Company paid a total of $96,408,000 on September 16, 2015 for the third quarter cash dividend. In addition, the Company accrued an additional $2,244,000 in dividends payable for the restricted stock units that have not yet vested. On May 7, 2015, the Company declared a quarterly cash dividend of $1.69 per share, with a record date of May 27, 2015 and a payment date of June 17, 2015. The Company paid a total of $96,203,000 on June 17, 2015 for the second quarter cash dividend. In addition, the Company accrued an additional $2,443,000 in dividends payable for the restricted stock units that have not yet vested. On February 19, 2015, the Company declared a quarterly cash dividend of $1.69 per share, with a record date of March 11, 2015 and a payment date of March 25, 2015. The Company paid a total of $96,196,000 on March 25, 2015 for the first quarter cash dividend. In addition, the Company accrued an additional $2,630,000 in dividends payable for the restricted stock units that have not yet vested. Stock-Based Compensation In February 2015, the Compensation Committee and the Stock Award Committee of the Company’s Board of Directors approved the issuance of an aggregate of 586,646 shares of restricted stock units to certain employees, including executive officers, pursuant to the 2000 Equity Incentive Plan, as part of the Company’s annual refresh program. These equity awards are subject to vesting provisions and have a weighted-average grant date fair value of $222.40 and a weighted-average requisite service period of 3.44 years. The valuation of restricted stock units with only a service condition or a service and performance condition requires no significant assumptions as the fair value for these types of equity awards is based solely on the fair value of the Company’s stock price on the date of grant. In connection with the Company’s REIT conversion, the Company used revenue and adjusted funds from operations (“AFFO”) as the performance measurements in the restricted stock units with both service and performance conditions that were granted in February 2015, whereby revenue and adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”) were used as the performance measurements in prior years’ grants. The Company uses a Monte Carlo simulation option-pricing model to determine the fair value of restricted stock units with a service and market condition. There were no significant changes in the assumptions used to determine the fair value of restricted stock units with a service and market condition that were granted in 2015 compared to the prior year. The following table presents, by operating expense category, the Company’s stock-based compensation expense recognized in the Company’s condensed consolidated statement of operations (in thousands): Three months ended Nine months ended 2015 2014 2015 2014 Cost of revenues $ 2,514 $ 2,145 $ 7,371 $ 6,243 Sales and marketing 9,173 7,256 27,806 22,199 General and administrative 22,282 18,261 63,398 58,031 $ 33,969 $ 27,662 $ 98,575 $ 86,473

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Information	10. Segment Information While the Company has a single line of business, which is the design, build-out and operation of IBX data centers, it has determined that it has three reportable segments comprised of its Americas, EMEA and Asia-Pacific geographic regions. The Company’s chief operating decision-maker evaluates performance, makes operating decisions and allocates resources based on the Company’s revenue and adjusted EBITDA performance both on a consolidated basis and based on these three reportable segments. The Company defines adjusted EBITDA as income from operations plus depreciation, amortization, accretion, stock-based compensation expense, restructuring charges, impairment charges and acquisition costs as presented below (in thousands): Three months ended Nine months ended 2015 2014 2015 2014 Adjusted EBITDA: Americas $ 174,170 $ 160,075 $ 517,790 $ 467,763 EMEA 81,403 69,786 236,967 198,342 Asia-Pacific 65,899 54,000 183,725 153,421 Total adjusted EBITDA 321,472 283,861 938,482 819,526 Depreciation, amortization and accretion expense (133,268 ) (121,349 ) (384,068 ) (351,033 ) Stock-based compensation expense (33,969 ) (27,662 ) (98,575 ) (86,473 ) Acquisition costs (13,352 ) 281 (24,374 ) (580 ) Income from operations $ 140,883 $ 135,131 $ 431,465 $ 381,440 The Company also provides the following additional segment disclosures (in thousands): Three months ended Nine months ended 2015 2014 2015 2014 Total revenues: Americas $ 382,630 $ 347,412 $ 1,118,046 $ 1,019,701 EMEA 177,563 161,580 516,153 470,172 Asia-Pacific 126,456 111,449 361,206 315,782 $ 686,649 $ 620,441 $ 1,995,405 $ 1,805,655 Total depreciation and amortization: Americas $ 69,721 $ 66,198 $ 205,674 $ 188,990 EMEA 32,851 27,454 86,991 84,875 Asia-Pacific 29,831 26,370 88,750 75,862 $ 132,403 $ 120,022 $ 381,415 $ 349,727 Capital expenditures: Americas $ 105,250 $ 77,241 $ 340,905 (1) (2) $ 232,462 EMEA 39,816 35,177 124,299 77,842 Asia-Pacific 70,980 43,586 170,834 128,212 (3) $ 216,046 $ 156,004 $ 636,038 $ 438,516 (1) Includes the purchase price for the business acquisitions, net of cash acquired, which totaled $10,247. (2) Includes the purchase price for the San Jose land purchase, which totaled $38,282. (3) Includes the purchase of real estate totaling $16,791. The Company’s long-lived assets are located in the following geographic areas as of (in thousands): September 30, December 31, Americas $ 3,022,087 $ 2,874,562 EMEA 1,136,938 1,135,319 Asia-Pacific 1,059,570 988,389 $ 5,218,595 $ 4,998,270 Revenue information on a services basis is as follows (in thousands): Three months ended Nine months ended 2015 2014 2015 2014 Colocation $ 511,652 $ 462,466 $ 1,489,807 $ 1,349,749 Interconnection 110,568 95,648 316,887 273,643 Managed infrastructure 22,327 27,757 69,648 80,997 Rental 2,174 2,566 6,727 7,909 Recurring revenues 646,721 588,437 1,883,069 1,712,298 Non-recurring revenues 39,928 32,004 112,336 93,357 $ 686,649 $ 620,441 $ 1,995,405 $ 1,805,655 No single customer accounted for 10% or greater of the Company’s revenues for the three and nine months ended September 30, 2015 and 2014. No single customer accounted for 10% or greater of the Company’s gross accounts receivable as of September 30, 2015 and December 31, 2014.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	11. Subsequent Events On October 28, 2015, the Company declared a quarterly cash dividend of $1.69 per share, which is payable on December 16, 2015 to the Company’s common stockholders of record as of the close of business on December 9, 2015.

Basis of Presentation and Sig17

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by Equinix, Inc. (“Equinix” or the “Company”) and reflect all adjustments, consisting only of normal recurring adjustments, which in the opinion of management are necessary to fairly state the financial position and the results of operations for the interim periods presented. The condensed consolidated balance sheet data as of December 31, 2014 has been derived from audited consolidated financial statements as of that date. The consolidated financial statements have been prepared in accordance with the regulations of the Securities and Exchange Commission (“SEC”), but omit certain information and footnote disclosure necessary to present the statements in accordance with generally accepted accounting principles in the United States of America (“GAAP”). For further information, refer to the Consolidated Financial Statements and Notes thereto included in Equinix’s Form 10-K as filed with the SEC on March 2, 2015. Results for the interim periods are not necessarily indicative of results for the entire fiscal year.
Consolidation	Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of Equinix and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.
Income Taxes	Income Taxes In September 2012, the Company announced that its Board of Directors approved a plan for Equinix to pursue conversion to a real estate investment trust (“REIT”). On December 23, 2014, its Board of Directors formally approved its conversion to a REIT effective on January 1, 2015. The Company completed the implementation of the REIT conversion in 2014, and as a result, the Company has elected to be treated as a REIT for federal income tax purposes effective January 1, 2015. In May 2015, the Company received a favorable response to the private letter ruling (“PLR”) it had requested from the U.S. Internal Revenue Service (“IRS”) in connection with the Company’s conversion to a REIT for federal income tax purposes. As a result, the Company may deduct the distributions made to its shareholders from taxable income generated by the Company and its Qualified REIT Subsidiaries (“QRSs”). The Company’s dividends paid deduction generally eliminates the taxable income of the Company and its QRSs, resulting in no U.S. income tax due. However, the Taxable REIT Subsidiaries (“TRSs”) will continue to be subject to income taxes on any taxable income generated by them. In addition, the foreign operations of the Company will continue to be subject to local income taxes regardless of whether the foreign operations are operated as a QRS or a TRS. The Company provides for income taxes during interim periods based on the estimated effective tax rate for the year. The effective tax rate is subject to change in the future due to various factors such as the operating performances of the Company, tax law changes and future business acquisitions. The Company’s effective tax rates were 12.5% and 30.9% for the nine months ended September 30, 2015 and 2014, respectively. The decrease in the effective tax rate is primarily due to the reduced tax rate as a result of the REIT conversion. As a REIT, the Company is entitled to a deduction for dividends paid, resulting in a substantial reduction of federal income tax expense.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In September 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-16, Business Combinations, to simplify accounting for adjustments made to provisional amounts recognized in a business combination by eliminating the requirement to retrospectively account for those adjustments. This ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years, with early adoption permitted. The amendments in this ASU require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization or other income effects as a result of changes to provisional amounts, calculated as if the accounting had been completed at the acquisition date. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements. In May 2015, the FASB issued ASU 2015-07, Fair Value Measurement (“ASU 2015-07”), which permits a reporting entity, as a practical expedient, to measure the fair value of certain investments using the net asset value per share of the investment. This ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years with early adoption permitted. A reporting entity should apply the amendment retrospectively to all periods presented. The retrospective approach requires that an investment for which fair value is measured using the net asset value per share practical expedient be removed from the fair value hierarchy in all periods presented in an entity’s financial statements. The Company does not believe the adoption of ASU 2015-07 will have a significant impact on its consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Interest – Imputation of Interest (“ASU 2015-03”), to simplify the presentation of debt issuance costs. The ASU requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability, consistent with debt discounts or premiums. The recognition and measurement guidance for debt issuance costs is not affected by this ASU. This ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within fiscal years beginning after December 15, 2016, with early adoption permitted. In August 2015, the FASB issued ASU 2015-15, Interest – Imputation of Interest Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements (“ASU 2015-15”), which amends ASU 2015-03 and provides guidance for the presentation of debt issuance costs associated with line-of-credit arrangements. ASU 2015-15 provides that debt issuance costs associated with line-of-credit arrangements may be presented in the balance sheet as assets. The Company adopted ASU 2015-03 and ASU 2015-15 in the three months ended September 30, 2015. As a result of the adoption of ASU 2015-03 the Company reclassified debt issuance costs of $35,455,000 at December 31, 2014 and $31,448,000 at September 30, 2015 from other assets to debt. In February 2015, the FASB issued ASU 2015-02, Consolidations (“ASU 2015-02”). This ASU requires companies to adopt a new consolidation model, specifically: (1) the ASU modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities; (2) the ASU eliminates the presumption that a general partner should consolidate limited partnership; (3) the ASU affects the consolidation analysis of reporting entities involved with VIEs and (4) the ASU provides a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. This ASU is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements. In January 2015, FASB issued ASU 2015-01, Income Statement – Extraordinary and Unusual Items (“ASU 2015-01”), to simplify the income statement presentation requirements by eliminating the concept of extraordinary items. ASU 2015-01 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company does not believe the adoption of ASU 2015-01 will have a significant impact on its consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), to provide guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016, with early adoption permitted. The Company does not believe the adoption of ASU 2014-15 will have a significant impact on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). This ASU requires companies to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which companies expect to be entitled in exchange for those goods or services. This ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. This ASU was originally effective for fiscal years and interim periods beginning after December 15, 2016. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (“ASU 2015-14”), which amends ASU 2014-09 and defers its effective date to fiscal years and interim reporting periods beginning after December 15, 2017. ASU 2015-14 permits earlier application only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements.
Cash Flow Hedges	Cash Flow Hedges.
Derivatives Not Designated as Hedging Instruments	Derivatives Not Designated as Hedging Instruments Embedded Derivatives Economic Hedges of Embedded Derivatives. Foreign Currency Forward and Option Contracts.
Segment Information	While the Company has a single line of business, which is the design, build-out and operation of IBX data centers, it has determined that it has three reportable segments comprised of its Americas, EMEA and Asia-Pacific geographic regions. The Company’s chief operating decision-maker evaluates performance, makes operating decisions and allocates resources based on the Company’s revenue and adjusted EBITDA performance both on a consolidated basis and based on these three reportable segments.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the periods presented (in thousands, except per share amounts): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Net income $ 41,132 $ 42,961 $ 177,043 $ 94,377 Net (income) loss attributable to redeemable non-controlling interests — (120 ) — 1,179 Net income attributable to Equinix, basic 41,132 42,841 177,043 95,556 Effect of assumed conversion of convertible debt: Interest expense, net of tax — 885 — 4,862 Net income attributable to Equinix, basic and diluted $ 41,132 $ 43,726 $ 177,043 $ 100,418 Weighted-average shares used to calculate basic EPS 57,082 53,137 56,894 51,369 Effect of dilutive securities: Convertible debt — 1,621 — 2,673 Employee equity awards 626 480 627 460 Weighted-average shares used to calculate diluted EPS 57,708 55,238 57,521 54,502 EPS attributable to Equinix: Basic EPS $ 0.72 $ 0.81 $ 3.11 $ 1.86 Diluted EPS $ 0.71 $ 0.79 $ 3.08 $ 1.84
Anti-dilutive Potential Shares of Common Stock Excluded from Computation of Earnings Per Share	The following table sets forth weighted-average outstanding potential shares of common stock that are not included in the diluted earnings per share calculation above because to do so would be anti-dilutive for the periods indicated (in thousands): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Shares reserved for conversion of 4.75% convertible subordinated notes 1,970 1,873 1,956 3,042 Common stock related to employee equity awards 201 156 117 176 2,171 2,029 2,073 3,218

Derivatives and Hedging Activ19

Derivatives and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Cash Flow Hedges	As of September 30, 2015, the Company’s cash flow hedges had maturities within 1 month to 2.25 years, as follows (in thousands): Notional Fair Value (1) Accumulated other Derivative assets $ 345,806 $ 11,171 $ 23,874 Derivative liabilities 92,137 (2,310 ) (15,637 ) $ 437,943 $ 8,861 $ 8,237 (1) All derivative assets related to cash flow hedges are included in the condensed consolidated balance sheets within other current assets, other assets, other current liabilities and other liabilities. (2) Included in the condensed consolidated balance sheets within accumulated other comprehensive income (loss). (3) The Company recorded a net gain of $8,112 within accumulated other comprehensive income (loss) relating to cash flow hedges that will be reclassified to revenue and expenses as they mature in the next 12 months. As of December 31, 2014, the Company’s cash flow hedges had maturities within 1 month to 1 year as follows (in thousands): Notional Fair Value (1) Accumulated other Derivative assets $ 281,055 $ 8,404 $ 8,480 Derivative liabilities — — — $ 281,055 $ 8,404 $ 8,480 (1) All derivative assets related to cash flow hedges are included in the condensed consolidated balance sheets within other current assets, other assets, other current liabilities and other liabilities. (2) Included in the condensed consolidated balance sheets within accumulated other comprehensive income (loss).
Schedule of Fair Value of Derivative Instruments Recognized in Consolidated Balance Sheets	The following table presents the fair value of derivative instruments recognized in the Company’s condensed consolidated balance sheets as of September 30, 2015 (in thousands): Gross Gross Net amounts Gross Net Assets: Designated as hedging instruments: Foreign currency forward contracts $ 11,171 $ — $ 11,171 $ (2,310 ) $ 8,861 Not designated as hedging instruments: Embedded derivatives 10,411 — 10,411 — 10,411 Economic hedges of embedded derivatives 17 — 17 (17 ) — Foreign currency forward and option contracts 18,942 — 18,942 (10,655 ) 8,287 29,370 — 29,370 (10,672 ) 18,698 Additional netting benefit — — — (4,223 ) (4,223 ) $ 40,541 $ — $ 40,541 $ (17,205 ) $ 23,336 Liabilities: Designated as hedging instruments: Foreign currency forward contracts $ 2,310 $ — $ 2,310 $ (2,310 ) $ — Not designated as hedging instruments: Embedded derivatives 1,649 — 1,649 — 1,649 Economic hedges of embedded derivatives 194 — 194 (17 ) 177 Foreign currency forward and option contracts 15,182 — 15,182 (10,655 ) 4,527 17,025 — 17,025 (10,672 ) 6,353 Additional netting benefit — — — (4,223 ) (4,223 ) $ 19,335 $ — $ 19,335 $ (17,205 ) $ 2,130 (1) As presented in the Company’s condensed consolidated balance sheets within other current assets, other assets, other current liabilities and other liabilities. (2) The Company enters into master netting agreements with its counterparties for transactions other than embedded derivatives to mitigate credit risk exposure to any single counterparty. Master netting agreements allow for individual derivative contracts with a single counterparty to offset in the event of default. The following table presents the fair value of derivative instruments recognized in the Company’s condensed consolidated balance sheets as of December 31, 2014 (in thousands): Gross Gross Net balance Gross Net Assets: Designated as hedging instruments: Foreign currency forward contracts $ 8,404 $ — $ 8,404 $ — $ 8,404 Not designated as hedging instruments: Embedded derivatives 9,182 — 9,182 — 9,182 Foreign currency forward and option contracts 5,153 — 5,153 (138 ) 5,015 14,335 — 14,335 (138 ) 14,197 Additional netting benefit — — — (508 ) (508 ) $ 22,739 $ — $ 22,739 $ (646 ) $ 22,093 Liabilities: Designated as hedging instruments: Foreign currency forward contracts $ — $ — $ — $ — $ — Not designated as hedging instruments: Embedded derivatives 4 — 4 — 4 Economic hedges of embedded derivatives 390 — 390 — 390 Foreign currency forward and option contracts 416 — 416 (138 ) 278 810 — 810 (138 ) 672 Additional netting benefit — — — (508 ) (508 ) $ 810 $ — $ 810 $ (646 ) $ 164 (1) As presented in the Company’s condensed consolidated balance sheets within other current assets, other assets, other current liabilities and other liabilities. (2) The Company enters into master netting agreements with its counterparties for transactions other than embedded derivatives to mitigate credit risk exposure to any single counterparty. Master netting agreements allow for individual derivative contracts with a single counterparty to offset in the event of default.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2015 were as follows (in thousands): Fair value at 2015 Fair value Level 1 Level 2 Assets (1): Money market and deposit accounts $ 8,020 $ 8,020 $ — Certificates of deposit 4,077 — 4,077 Derivative instruments (2) 40,541 — 40,541 $ 52,638 $ 8,020 $ 44,618 Liabilities: Derivative instruments (2) $ 19,335 $ — $ 19,335 $ 19,335 $ — $ 19,335 (1) Excludes cash and restricted cash. (2) Includes both foreign currency embedded derivatives and foreign currency forward contracts. Amounts are included within other current asset, other assets, others current liabilities and other liabilities in the Company’s accompanying consolidated condensed balance sheet. The Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2014 were as follows (in thousands): Fair value at 2014 Fair value measurement using Level 1 Level 2 Assets (1): Money market and deposit accounts $ 402,964 $ 402,964 $ — U.S. government securities 336,440 336,440 — U.S. government agency securities 192,955 — 192,955 Certificates of deposit 439 — 439 Derivative instruments (2) 22,739 — 22,739 $ 955,537 $ 739,404 $ 216,133 Liabilities: Derivative instruments (2) $ 810 $ — $ 810 $ 810 $ — $ 810 (1) Excludes cash and restricted cash (2) Includes embedded derivatives and foreign currency forward contracts. Amounts are included within other current assets, other assets, other current liabilities and other liabilities in the Company’s accompanying condensed consolidated balance sheet.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2015
Leases [Abstract]
Summary of Capital Lease and Other Financing Obligations	The Company’s capital lease and other financing obligations are summarized as follows (in thousands): Capital lease Other Total 2015 (3 months remaining) $ 18,735 $ 13,638 $ 32,373 2016 68,032 55,761 123,793 2017 70,086 58,794 128,880 2018 72,151 60,231 132,382 2019 74,063 58,412 132,475 Thereafter 904,734 559,075 1,463,809 Total minimum lease payments 1,207,801 805,911 2,013,712 Plus amount representing residual property value — 408,683 408,683 Less estimated building costs — (4,580 ) (4,580 ) Less amount representing interest (573,481 ) (618,978 ) (1,192,459 ) Present value of net minimum lease payments 634,320 591,036 1,225,356 Less current portion (18,399 ) (8,376 ) (26,775 ) $ 615,921 $ 582,660 $ 1,198,581 1. Other financing obligations are primarily build-to-suit lease obligations.

Debt Facilities (Tables)

Debt Facilities (Tables)	9 Months Ended
	Sep. 30, 2015
Convertible Debt	The Company’s convertible debt consisted of the following (in thousands): September 30, December 31, 4.75% convertible subordinated notes $ 157,885 $ 157,885 Less amount representing debt discount and debt issuance cost (1) (6,350 ) (12,656 ) $ 151,535 $ 145,229 (1) The Company adopted ASU 2015-03 during the three months ended September 30, 2015. As a result, debt issuance costs of $303,000 and $624,000 were reclassified from other assets to debt as of September 30, 2015 and December 31, 2014, respectively.
Summary of Maturities of Debt Facilities	The following table sets forth maturities of the Company’s debt, including mortgage and loans payable, convertible debt and senior notes and excluding debt discounts and premium as of September 30, 2015 (in thousands): Year ending: 2015 (3 months remaining) $ 16,268 2016 212,791 2017 50,100 2018 46,565 2019 345,401 Thereafter 2,778,724 $ 3,449,849
Fair Value of Debt Facilities	The following table sets forth the estimated fair values of the Company’s mortgage and loans payable, senior notes and convertible debt, including current maturities, as of (in thousands): September 30, December 31, Mortgage and loans payable $ 539,187 $ 553,045 Convertible debt 160,600 162,159 Senior notes 2,731,233 2,790,023
Interest Charges	The following table sets forth total interest costs incurred and total interest costs capitalized for the periods presented (in thousands): Three months ended Nine months ended 2015 2014 2015 2014 Interest expense $ 76,269 $ 63,756 $ 219,556 $ 199,450 Interest capitalized 1,831 5,565 8,677 13,050 Interest charges incurred $ 78,100 $ 69,321 $ 228,233 $ 212,500
Loans Payable [Member]
Summary of Loans Payable and Senior Notes	The Company’s mortgage and loans payable consisted of the following (in thousands): September 30, December 31, Term loan $ 475,631 $ 500,000 ALOG financings (1) 32,766 56,863 Mortgage payable and other loans payable 31,505 36,608 539,902 593,471 Less amount representing debt discount and debt issuance cost (2) (2,891 ) (3,477 ) Plus amount representing mortgage premium 2,062 2,281 539,073 592,275 Less current portion (55,024 ) (59,466 ) $ 484,049 $ 532,809 (1) ALOG Data Centers do Brasil S.A. (2) The Company adopted ASU 2015-03 during the three months ended September 30, 2015. As a result, debt issuance costs of $1,594,000 and $1,877,000 were reclassified from other assets to debt as of September 30, 2015 and December 31, 2014, respectively.
Senior Notes [Member]
Summary of Loans Payable and Senior Notes	The Company’s senior notes consisted of the following as of (in thousands): September 30, December 31, 5.375% Senior Notes due 2023 $ 1,000,000 $ 1,000,000 5.375% Senior Notes due 2022 750,000 750,000 4.875% Senior Notes due 2020 500,000 500,000 5.75% Senior Notes due 2025 500,000 500,000 2,750,000 2,750,000 Less amount representing debt issuance cost (1) (29,552 ) (32,954 ) $ 2,720,448 $ 2,717,046 (1) The Company adopted ASU 2015-03 during the three months ended September 30, 2015, which resulted in a reclass of debt issuance costs from other assets to debt.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Components of Accumulated Other Comprehensive Loss	The components of accumulated other comprehensive loss, net of tax, are as follows (in thousands): Balance as of Net Balance as of Foreign currency translation adjustment (“CTA”) gain (loss) $ (336,946 ) $ (149,546 ) $ (486,492 ) Unrealized gain (loss) on cash flow hedges 6,603 (425 ) 6,178 Unrealized gain (loss) on available-for-sale securities (99 ) 99 — Net investment hedge CTA loss — (5,963 ) (5,963 ) Defined benefit plans (2,001 ) 266 (1,735 ) $ (332,443 ) $ (155,569 ) $ (488,012 )
Stock-Based Compensation Expense Recognized in Company's Condensed Consolidated Statement of Operations	The following table presents, by operating expense category, the Company’s stock-based compensation expense recognized in the Company’s condensed consolidated statement of operations (in thousands): Three months ended Nine months ended 2015 2014 2015 2014 Cost of revenues $ 2,514 $ 2,145 $ 7,371 $ 6,243 Sales and marketing 9,173 7,256 27,806 22,199 General and administrative 22,282 18,261 63,398 58,031 $ 33,969 $ 27,662 $ 98,575 $ 86,473

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of Adjusted EBITDA	The Company defines adjusted EBITDA as income from operations plus depreciation, amortization, accretion, stock-based compensation expense, restructuring charges, impairment charges and acquisition costs as presented below (in thousands): Three months ended Nine months ended 2015 2014 2015 2014 Adjusted EBITDA: Americas $ 174,170 $ 160,075 $ 517,790 $ 467,763 EMEA 81,403 69,786 236,967 198,342 Asia-Pacific 65,899 54,000 183,725 153,421 Total adjusted EBITDA 321,472 283,861 938,482 819,526 Depreciation, amortization and accretion expense (133,268 ) (121,349 ) (384,068 ) (351,033 ) Stock-based compensation expense (33,969 ) (27,662 ) (98,575 ) (86,473 ) Acquisition costs (13,352 ) 281 (24,374 ) (580 ) Income from operations $ 140,883 $ 135,131 $ 431,465 $ 381,440
Segment Disclosures	The Company also provides the following additional segment disclosures (in thousands): Three months ended Nine months ended 2015 2014 2015 2014 Total revenues: Americas $ 382,630 $ 347,412 $ 1,118,046 $ 1,019,701 EMEA 177,563 161,580 516,153 470,172 Asia-Pacific 126,456 111,449 361,206 315,782 $ 686,649 $ 620,441 $ 1,995,405 $ 1,805,655 Total depreciation and amortization: Americas $ 69,721 $ 66,198 $ 205,674 $ 188,990 EMEA 32,851 27,454 86,991 84,875 Asia-Pacific 29,831 26,370 88,750 75,862 $ 132,403 $ 120,022 $ 381,415 $ 349,727 Capital expenditures: Americas $ 105,250 $ 77,241 $ 340,905 (1) (2) $ 232,462 EMEA 39,816 35,177 124,299 77,842 Asia-Pacific 70,980 43,586 170,834 128,212 (3) $ 216,046 $ 156,004 $ 636,038 $ 438,516 (1) Includes the purchase price for the business acquisitions, net of cash acquired, which totaled $10,247. (2) Includes the purchase price for the San Jose land purchase, which totaled $38,282. (3) Includes the purchase of real estate totaling $16,791.
Long-Lived Assets	The Company’s long-lived assets are located in the following geographic areas as of (in thousands): September 30, December 31, Americas $ 3,022,087 $ 2,874,562 EMEA 1,136,938 1,135,319 Asia-Pacific 1,059,570 988,389 $ 5,218,595 $ 4,998,270
Revenue Information on Services Basis	Revenue information on a services basis is as follows (in thousands): Three months ended Nine months ended 2015 2014 2015 2014 Colocation $ 511,652 $ 462,466 $ 1,489,807 $ 1,349,749 Interconnection 110,568 95,648 316,887 273,643 Managed infrastructure 22,327 27,757 69,648 80,997 Rental 2,174 2,566 6,727 7,909 Recurring revenues 646,721 588,437 1,883,069 1,712,298 Non-recurring revenues 39,928 32,004 112,336 93,357 $ 686,649 $ 620,441 $ 1,995,405 $ 1,805,655

Basis of Presentation and Sig25

Basis of Presentation and Significant Accounting Policies - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Basis Of Presentation And Significant Accounting Policies [Line Items]
Effective income tax rate, continuing operations	12.50%	30.90%
ASU 2015-03 [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Reclassified debt issuance costs from other assets to debt	$ 31,448,000		$ 35,455,000

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Net income	$ 41,132	$ 42,961	$ 177,043	$ 94,377
Net (income) loss attributable to redeemable non-controlling interests		(120)		1,179
Net income attributable to Equinix, basic	41,132	42,841	177,043	95,556
Effect of assumed conversion of convertible debt:
Interest expense, net of tax		885		4,862
Net income attributable to Equinix, basic and diluted	$ 41,132	$ 43,726	$ 177,043	$ 100,418
Weighted-average shares used to calculate basic EPS	57,082	53,137	56,894	51,369
Effect of dilutive securities:
Convertible debt		1,621		2,673
Employee equity awards	626	480	627	460
Weighted-average shares used to calculate diluted EPS	57,708	55,238	57,521	54,502
Basic EPS	$ 0.72	$ 0.81	$ 3.11	$ 1.86
Diluted EPS	$ 0.71	$ 0.79	$ 3.08	$ 1.84

Earnings Per Share - Anti-dilut

Earnings Per Share - Anti-dilutive Potential Shares of Common Stock Excluded from Computation of Earnings Per Share (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive potential shares of common stock excluded from computation of earnings per share, amount	2,171	2,029	2,073	3,218
Common stock related to employee equity awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive potential shares of common stock excluded from computation of earnings per share, amount	201	156	117	176
4.75% Convertible subordinated notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive potential shares of common stock excluded from computation of earnings per share, amount	1,970	1,873	1,956	3,042

Earnings Per Share - Anti-dil28

Earnings Per Share - Anti-dilutive Potential Shares of Common Stock Excluded from Computation of Earnings Per Share (Parenthetical) (Detail)	Sep. 30, 2015	Sep. 30, 2014
4.75% Convertible subordinated notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Convertible debt interest rate	4.75%	4.75%

Acquisition - Additional Inform

Acquisition - Additional Information (Detail)

Sep. 08, 2015USD ($)

Sep. 08, 2015JPY (¥)¥ / shares

May. 29, 2015GBP (£)

May. 29, 2015USD ($)

Jan. 14, 2015USD ($)

Oct. 31, 2015USD ($)

Oct. 31, 2015JPY (¥)

Sep. 30, 2015USD ($)

Sep. 30, 2015USD ($)

Sep. 30, 2015JPY (¥)

May. 29, 2015USD ($)

Dec. 31, 2014USD ($)

Business Acquisition [Line Items]

Goodwill recorded

$ 983,530,000

$ 983,530,000

$ 1,002,129,000

5.75% Senior Notes due 2025 [Member]

Business Acquisition [Line Items]

Senior notes stated percentage

5.75%

5.75%

5.75%

Senior notes maturity

2,025

4.875% Senior Notes due 2020 [Member]

Business Acquisition [Line Items]

Senior notes stated percentage

4.875%

4.875%

4.875%

Senior notes maturity

2,020

Bridge Loan [Member]

Business Acquisition [Line Items]

Initial lender of bridge loan credit agreement

J.P. Morgan Chase Bank, N.A.

Short-term debt

£ 875,000,000

$ 0

$ 0

$ 1,340,000,000

Debt instrument term

12 months

12 months

Debt instrument extended maturity term

7 years

7 years

Debt estimated commitment fees

£ 4,375,000

$ 6,701,000

Debt commitment fees

4,970,000

$ 4,970,000

Margin base rate

5.00%

Debt instrument, variable interest rate basis

The Bridge Loan bears interest during the first three months in which the funds are advanced, at an initial annual rate of LIBOR plus 5.00%. Thereafter, the rate for each subsequent three-month period increases by 0.5% over the applicable margin in effect for the immediately preceding three-month period, subject to a cap (the “Total Cap”). Prior to February 28, 2016, the Total Cap is equal to 1.50% plus the greatest of (i) the yield on the Company’s 5.750% senior notes due 2025, (ii) the yield on the J.P. Morgan US Dollar Global High Yield Index minus 1.21% and (iii) 4.875%. On and after February 28, 2016, the Total Cap is equal to 1.75% plus the greatest of (i) the yield on the Company’s 5.750% senior notes due 2025, (ii) the yield on the J.P. Morgan US Dollar Global High Yield Index minus 1.21% and (iii) 4.875%.

Short-term loan

0

$ 0

Bridge Loan [Member] | Bank of Tokyo-Mitsubishi UFJ, Ltd. [Member]

Business Acquisition [Line Items]

Short-term debt

$ 395,833,000

$ 395,833,000

Debt instrument term

1 year

Debt instrument, variable interest rate basis

Tokyo Interbank Offered Rate

Debt instrument, variable interest terms

Borrowings under the Bridge Loan will bear interest at the Tokyo Interbank Offered Rate for Japanese Yen, plus a margin of 0.4% per annum for the first ten months following the borrowing of the first tranche of the Bridge Loan, which margin increases to 1.75% per annum thereafter.

Bridge Loan [Member] | Tokyo Interbank Offered Rate [Member] | Bank of Tokyo-Mitsubishi UFJ, Ltd. [Member]

Business Acquisition [Line Items]

Debt instrument interest rate spread

0.40%

Debt instrument increase in interest rate spread

1.75%

Bridge Loan [Member] | Maximum [Member] | Bank of Tokyo-Mitsubishi UFJ, Ltd. [Member]

Business Acquisition [Line Items]

Short-term debt | ¥

¥ 47,500,000,000

Bridge Loan [Member] | 5.75% Senior Notes due 2025 [Member]

Business Acquisition [Line Items]

Senior notes stated percentage

5.75%

5.75%

5.75%

Senior notes maturity

2,025

Bridge Loan [Member] | 4.875% Senior Notes due 2020 [Member]

Business Acquisition [Line Items]

Senior notes stated percentage

4.875%

4.875%

4.875%

Bridge Loan [Member] | Forecast [Member]

Business Acquisition [Line Items]

Drawings from short-term debt

$ 226,940,000

¥ 27,260,000,000

Nimbo Technologies Inc [Member]

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 10,000,000

Contingent earn-out arrangement to be paid (in years)

2 years

Goodwill recorded

$ 17,154,000

Telecity Group plc [Member]

Business Acquisition [Line Items]

Total Consideration

2,351,900,000

$ 3,594,409,000

Restricted cash

£ 322,851,000

$ 493,801,000

Telecity Group plc [Member] | Foreign currency forward and option contracts [Member] | Other Income (Expense) [Member]

Business Acquisition [Line Items]

Loss in foreign currency option and forward contracts

$ 11,636,000

$ 11,636,000

Bit Isle Inc [Member]

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 280,000,000

¥ 33,300,000,000

Offer price, per share | ¥ / shares

¥ 922

Percentage of shares acquired

66.67%

Percentage of shares including stock options tendered

97.00%

Derivatives and Hedging Activ30

Derivatives and Hedging Activities - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Derivative [Line Items]
Foreign exchange gains (losses)	$ (72,677,000)	$ (144,994,000)	$ (149,546,000)	$ (106,943,000)
Description of foreign currency term loan of net investment			In order to mitigate the volatility in foreign currency exchange rates, the Company entered into a foreign currency term loan in April 2015 (as discussed in Note 7) and designated 100% of the term loan to hedge its net investments in its wholly-owned foreign subsidiaries that are denominated in the same foreign currencies as the term loan.
Ineffectiveness amount from net investment hedges	0		$ 0
Gains (losses) reclassified from accumulated other comprehensive income (loss) to revenues	5,590,000	0	21,096,000
Costs and operating expenses [Member]
Derivative [Line Items]
Gains (losses) reclassified from accumulated other comprehensive income (loss) to revenues			$ (4,167,000)
Not designated as hedging instruments [Member]
Derivative [Line Items]
Objectives for using derivative instruments			Embedded Derivatives. The Company is deemed to have foreign currency forward contracts embedded in certain of the Company’s customer agreements that are priced in currencies different from the functional or local currencies of the parties involved. These embedded derivatives are separated from their host contracts and carried on the Company’s balance sheet at their fair value. The majority of these embedded derivatives arise as a result of the Company’s foreign subsidiaries pricing their customer contracts in the U.S. dollar. Economic Hedges of Embedded Derivatives. The Company uses foreign currency forward contracts to manage the foreign exchange risk associated with the Company’s embedded derivatives (“economic hedges of embedded derivatives”). Foreign Currency Forward and Option Contracts. The Company also uses foreign currency forward and options contracts to manage the foreign exchange risk associated with certain foreign currency-denominated assets and liabilities. As a result of foreign currency fluctuations, the U.S. dollar equivalent values of the foreign currency-denominated assets and liabilities change.
Not designated as hedging instruments [Member] | Embedded derivatives [Member]
Derivative [Line Items]
Net gains (losses) on embedded derivatives	0	2,745,000	$ 0	0
Not designated as hedging instruments [Member] | Economic hedges of embedded derivatives [Member]
Derivative [Line Items]
Net gains (losses) on embedded derivatives	0	(2,979,000)	(2,019,000)	0
Not designated as hedging instruments [Member] | Foreign currency forward and option contracts [Member]
Derivative [Line Items]
Net gain (loss) in foreign currency forward and options contracts	12,776,000	$ 4,073,000	10,315,000	$ 6,975,000
Designated as hedging instruments [Member]
Derivative [Line Items]
Foreign exchange gains (losses)	$ 4,426,000		$ (5,963,000)
Cash flow hedge instruments [Member]
Derivative [Line Items]
Maturity period of cash flow hedges derivatives			1 month		1 month
Maturity period of cash flow hedges derivatives			2 years 3 months		1 year

Derivatives and Hedging Activ31

Derivatives and Hedging Activities - Summary of Cash Flow Hedges (Detail) - Cash flow hedge instruments [Member] - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Notional Amount, Derivative assets	$ 345,806,000	$ 281,055,000
Notional Amount, Derivative liabilities	92,137,000
Notional Amount, Total	437,943,000	281,055,000
Fair Value, Derivative assets	11,171,000	8,404,000
Fair Value, Derivative liabilities	(2,310,000)
Fair Value, Total	8,861,000	8,404,000
Unrealized gain (loss) on cash flow hedges [Member]
Derivatives, Fair Value [Line Items]
Fair Value, Derivative assets	23,874,000	8,480,000
Fair Value, Derivative liabilities	(15,637,000)
Fair Value, Total	$ 8,237,000	$ 8,480,000

Derivatives and Hedging Activ32

Derivatives and Hedging Activities - Summary of Cash Flow Hedges (Parenthetical) (Detail) - Cash flow hedge instruments [Member] - USD ($)	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Net gain on accumulated other comprehensive income (loss)	$ 8,861,000	$ 8,404,000
Unrealized gain (loss) on cash flow hedges [Member]
Derivatives, Fair Value [Line Items]
Net gain on accumulated other comprehensive income (loss)	$ 8,237,000	$ 8,480,000
Maturity period of cash flow hedges derivatives	12 months
Maturities In Next Twelve Months [Member] | Unrealized gain (loss) on cash flow hedges [Member]
Derivatives, Fair Value [Line Items]
Net gain on accumulated other comprehensive income (loss)	$ 8,112

Derivatives and Hedging Activ33

Derivatives and Hedging Activities - Schedule of Fair Value of Derivative Instruments Recognized in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Derivative [Line Items]
Fair value of derivative assets, Gross Amounts	$ 40,541	$ 22,739
Fair value of derivative assets, Gross amounts offset in the balance sheet	0	0
Fair value of derivative assets, Net amounts	40,541	22,739
Fair value of derivative assets, Gross amounts not offset in the balance sheet	(17,205)	(646)
Fair value of derivative assets, Net	23,336	22,093
Fair value of derivative liabilities, Gross Amounts	19,335	810
Fair value of derivative liabilities, Gross amounts offset in the balance sheet	0	0
Fair value of derivative liabilities, Net amounts	19,335	810
Fair value of derivative liabilities, Gross amounts not offset in the balance sheet	(17,205)	(646)
Fair value of derivative liabilities, Net	2,130	164
Additional netting benefit [Member]
Derivative [Line Items]
Fair value of derivative assets, Gross amounts offset in the balance sheet	0	0
Fair value of derivative assets, Gross amounts not offset in the balance sheet	(4,223)	(508)
Fair value of derivative assets, Net	(4,223)	(508)
Fair value of derivative liabilities, Gross amounts offset in the balance sheet	0	0
Fair value of derivative liabilities, Gross amounts not offset in the balance sheet	(4,223)	(508)
Fair value of derivative liabilities, Net	(4,223)	(508)
Designated as hedging instruments [Member] | Foreign currency forward contracts [Member]
Derivative [Line Items]
Fair value of derivative assets, Gross Amounts	11,171	8,404
Fair value of derivative assets, Gross amounts offset in the balance sheet	0	0
Fair value of derivative assets, Net amounts	11,171	8,404
Fair value of derivative assets, Gross amounts not offset in the balance sheet	(2,310)
Fair value of derivative assets, Net	8,861	8,404
Fair value of derivative liabilities, Gross Amounts	2,310
Fair value of derivative liabilities, Gross amounts offset in the balance sheet	0	0
Fair value of derivative liabilities, Net amounts	2,310
Fair value of derivative liabilities, Gross amounts not offset in the balance sheet	(2,310)
Not designated as hedging instruments [Member]
Derivative [Line Items]
Fair value of derivative assets, Gross Amounts	29,370	14,335
Fair value of derivative assets, Gross amounts offset in the balance sheet	0	0
Fair value of derivative assets, Net amounts	29,370	14,335
Fair value of derivative assets, Gross amounts not offset in the balance sheet	(10,672)	(138)
Fair value of derivative assets, Net	18,698	14,197
Fair value of derivative liabilities, Gross Amounts	17,025	810
Fair value of derivative liabilities, Gross amounts offset in the balance sheet	0	0
Fair value of derivative liabilities, Net amounts	17,025	810
Fair value of derivative liabilities, Gross amounts not offset in the balance sheet	(10,672)	(138)
Fair value of derivative liabilities, Net	6,353	672
Not designated as hedging instruments [Member] | Embedded derivatives [Member]
Derivative [Line Items]
Fair value of derivative assets, Gross Amounts	10,411	9,182
Fair value of derivative assets, Gross amounts offset in the balance sheet	0	0
Fair value of derivative assets, Net amounts	10,411	9,182
Fair value of derivative assets, Net	10,411	9,182
Fair value of derivative liabilities, Gross Amounts	1,649	4
Fair value of derivative liabilities, Gross amounts offset in the balance sheet	0	0
Fair value of derivative liabilities, Net amounts	1,649	4
Fair value of derivative liabilities, Net	1,649	4
Not designated as hedging instruments [Member] | Economic hedges of embedded derivatives [Member]
Derivative [Line Items]
Fair value of derivative assets, Gross Amounts	17
Fair value of derivative assets, Gross amounts offset in the balance sheet	0
Fair value of derivative assets, Net amounts	17
Fair value of derivative assets, Gross amounts not offset in the balance sheet	(17)
Fair value of derivative liabilities, Gross Amounts	194	390
Fair value of derivative liabilities, Gross amounts offset in the balance sheet	0	0
Fair value of derivative liabilities, Net amounts	194	390
Fair value of derivative liabilities, Gross amounts not offset in the balance sheet	(17)
Fair value of derivative liabilities, Net	177	390
Not designated as hedging instruments [Member] | Foreign currency forward and option contracts [Member]
Derivative [Line Items]
Fair value of derivative assets, Gross Amounts	18,942	5,153
Fair value of derivative assets, Gross amounts offset in the balance sheet	0	0
Fair value of derivative assets, Net amounts	18,942	5,153
Fair value of derivative assets, Gross amounts not offset in the balance sheet	(10,655)	(138)
Fair value of derivative assets, Net	8,287	5,015
Fair value of derivative liabilities, Gross Amounts	15,182	416
Fair value of derivative liabilities, Gross amounts offset in the balance sheet	0	0
Fair value of derivative liabilities, Net amounts	15,182	416
Fair value of derivative liabilities, Gross amounts not offset in the balance sheet	(10,655)	(138)
Fair value of derivative liabilities, Net	$ 4,527	$ 278

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 40,541	$ 22,739
Derivative liabilities	19,335	810
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	40,541	22,739
Total financial assets	52,638	955,537
Derivative liabilities	19,335	810
Total financial liabilities	19,335	810
Fair Value, Measurements, Recurring [Member] | Money market and deposit accounts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	8,020	402,964
Fair Value, Measurements, Recurring [Member] | Certificates of deposit [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	4,077	439
Fair Value, Measurements, Recurring [Member] | U.S. government securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets		336,440
Fair Value, Measurements, Recurring [Member] | U.S. government agency securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		192,955
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	8,020	739,404
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Money market and deposit accounts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	8,020	402,964
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | U.S. government securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets		336,440
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	40,541	22,739
Total financial assets	44,618	216,133
Derivative liabilities	19,335	810
Total financial liabilities	19,335	810
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Certificates of deposit [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 4,077	439
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | U.S. government agency securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		$ 192,955

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2015
Atlanta 1 Capital Lease [Member]
Operating Leased Assets [Line Items]
Capital lease asset	$ 21,274,000
Capital lease liability	$ 21,274,000
Expiration date of lease			Sep. 30, 2035
Atlanta 2 Capital Lease [Member]
Operating Leased Assets [Line Items]
Capital lease asset		$ 25,960,000
Capital lease liability		$ 26,230,000
Expiration date of lease			Dec. 31, 2024

Leases - Summary of Capital Lea

Leases - Summary of Capital Lease and Other Financing Obligations (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Capital lease obligations
Current portion of capital lease and other financing obligations	$ (26,775)	$ (21,362)
Capital lease and other financing obligations, less current portion	1,198,581	$ 1,168,042
Capital lease obligations [Member]
Schedule Of Capitalized Lease [Line Items]
2015 (3 months remaining)	18,735
2,016	68,032
2,017	70,086
2,018	72,151
2,019	74,063
Thereafter	904,734
Total minimum lease payments	1,207,801
Less amount representing interest	(573,481)
Present value of net minimum lease payments	634,320
Capital lease obligations
Current portion of capital lease and other financing obligations	(18,399)
Capital lease and other financing obligations, less current portion	615,921
Present value of net minimum lease payments	634,320
Other financing obligations [Member]
Schedule Of Capitalized Lease [Line Items]
2015 (3 months remaining)	13,638
2,016	55,761
2,017	58,794
2,018	60,231
2,019	58,412
Thereafter	559,075
Total minimum lease payments	805,911
Plus amount representing residual property value	408,683
Less estimated building costs	(4,580)
Less amount representing interest	(618,978)
Present value of net minimum lease payments	591,036
Capital lease obligations
Current portion of capital lease and other financing obligations	(8,376)
Capital lease and other financing obligations, less current portion	582,660
Present value of net minimum lease payments	591,036
Capital Lease and Other Financing Obligations Total [Member]
Schedule Of Capitalized Lease [Line Items]
2015 (3 months remaining)	32,373
2,016	123,793
2,017	128,880
2,018	132,382
2,019	132,475
Thereafter	1,463,809
Total minimum lease payments	2,013,712
Plus amount representing residual property value	408,683
Less estimated building costs	(4,580)
Less amount representing interest	(1,192,459)
Present value of net minimum lease payments	1,225,356
Capital lease obligations
Current portion of capital lease and other financing obligations	(26,775)
Capital lease and other financing obligations, less current portion	1,198,581
Present value of net minimum lease payments	$ 1,225,356

Debt Facilities - Summary of Lo

Debt Facilities - Summary of Loans Payable and Senior Notes (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Loans payable	$ 539,902	$ 593,471
Less amount representing debt discount and debt issuance cost	(2,891)	(3,477)
Plus amount representing mortgage premium	2,062	2,281
Loans payable current and non current	539,073	592,275
Loans payable current and non current
Less current portion	(55,024)	(59,466)
Loans payable, less current portion	484,049	532,809
Loans payable current and non current	539,073	592,275
U.S. term loan [Member]
Debt Instrument [Line Items]
Loans payable	475,631	500,000
ALOG financings [Member]
Debt Instrument [Line Items]
Loans payable	32,766	56,863
Mortgage payable and other loans payable [Member]
Debt Instrument [Line Items]
Loans payable	$ 31,505	$ 36,608

Debt Facilities - Summary of 38

Debt Facilities - Summary of Loans Payable and Senior Notes (Parenthetical) (Detail) - ASU 2015-03 [Member] - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Reclassified debt issuance costs from other assets to debt	$ 31,448,000	$ 35,455,000
Mortgage and Loans Payable [Member]
Debt Instrument [Line Items]
Reclassified debt issuance costs from other assets to debt	$ 1,594,000	$ 1,877,000

Debt Facilities - Additional In

Debt Facilities - Additional Information 1 (Detail)	Apr. 30, 2015USD ($)	Jul. 31, 2015$ / sharesshares	Sep. 30, 2015USD ($)$ / sharesshares	Sep. 30, 2014USD ($)	Apr. 30, 2015GBP (£)	Apr. 30, 2015USD ($)	Apr. 30, 2015CHF (SFr)	Apr. 30, 2015EUR (€)	Apr. 30, 2015JPY (¥)
Debt Instrument [Line Items]
Prepayment of principal balance of outstanding term loan			$ 529,447,000	$ 37,510,000
Senior credit facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						$ 1,500,000,000
Senior credit facility [Member] | Term loan facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						500,000,000
U.S. term loan [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					£ 92,586,000	490,000,000	SFr 47,780,000	€ 184,945,000	¥ 11,924,000,000
Prepayment of principal balance of outstanding term loan	$ 490,000,000
Credit facility, frequency of payment			Quarterly
Debt instrument, repayment terms			The Company will repay the Term Loan Facility in equal quarterly installments on the last business day of each March, June, September and December, commencing on June 30, 2015, equal to the amount of 2.00% of the result of the respective Term Loan Facility on April 30, 2015 divided by 0.98.
Revolving credit facility [Member] | Senior credit facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						$ 1,000,000,000
4.75% Convertible subordinated notes [Member]
Debt Instrument [Line Items]
Subordinated notes converted into common stock | shares			1,976,736
Convertible debt interest rate			4.75%	4.75%
Convertible debt maturity date			Jun. 15, 2016
Capped call premium, total			$ 49,664,000
Convertible subordinated notes, converted number of common stock | shares			4,432,638
Capped call redemption | shares		1,240,460
4.75% Convertible subordinated notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Conversion price per share | $ / shares			$ 84.32
4.75% Convertible subordinated notes [Member] | Minimum [Member] | Capped Call [Member]
Debt Instrument [Line Items]
Conversion price per share | $ / shares		$ 79.87
4.75% Convertible subordinated notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Conversion price per share | $ / shares			$ 114.82
4.75% Convertible subordinated notes [Member] | Maximum [Member] | Capped Call [Member]
Debt Instrument [Line Items]
Conversion price per share | $ / shares		$ 108.68

Debt Facilities - Convertible D

Debt Facilities - Convertible Debt (Detail) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Less amount representing debt discount and debt issuance cost	$ (2,891,000)	$ (3,477,000)
Convertible subordinated debt, Total	151,535,000	145,229,000
4.75% Convertible subordinated notes [Member]
Debt Instrument [Line Items]
Debt Instrument, face amount	157,885,000	157,885,000
Less amount representing debt discount and debt issuance cost	$ (6,350,000)	$ (12,656,000)

Debt Facilities - Convertible41

Debt Facilities - Convertible Debt (Parenthetical) (Detail) - USD ($)	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
ASU 2015-03 [Member]
Debt Instrument [Line Items]
Reclassified debt issuance costs from other assets to debt	$ 31,448,000	$ 35,455,000
4.75% Convertible subordinated notes [Member]
Debt Instrument [Line Items]
Convertible debt interest rate	4.75%		4.75%
4.75% Convertible subordinated notes [Member] | ASU 2015-03 [Member]
Debt Instrument [Line Items]
Reclassified debt issuance costs from other assets to debt	$ 303,000	$ 624,000

Debt Facilities - Summary of Se

Debt Facilities - Summary of Senior Notes (Detail) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Senior notes	$ 2,720,448,000	$ 2,717,046,000
Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, face amount	2,750,000,000	2,750,000,000
Less amount representing debt issuance cost	(29,552,000)	(32,954,000)
5.375% Senior Notes due 2023 [Member]
Debt Instrument [Line Items]
Debt Instrument, face amount	1,000,000,000	1,000,000,000
5.375% Senior Notes due 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, face amount	750,000,000	750,000,000
4.875% Senior Notes due 2020 [Member]
Debt Instrument [Line Items]
Debt Instrument, face amount	500,000,000	500,000,000
5.75% Senior Notes due 2025 [Member]
Debt Instrument [Line Items]
Debt Instrument, face amount	$ 500,000,000	$ 500,000,000

Debt Facilities - Summary of 43

Debt Facilities - Summary of Senior Notes (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2015
5.375% Senior Notes due 2023 [Member]
Debt Instrument [Line Items]
Senior notes stated percentage	5.375%
Senior notes maturity	2,023
5.375% Senior Notes due 2022 [Member]
Debt Instrument [Line Items]
Senior notes stated percentage	5.375%
Senior notes maturity	2,022
4.875% Senior Notes due 2020 [Member]
Debt Instrument [Line Items]
Senior notes stated percentage	4.875%
Senior notes maturity	2,020
5.75% Senior Notes due 2025 [Member]
Debt Instrument [Line Items]
Senior notes stated percentage	5.75%
Senior notes maturity	2,025

Debt Facilities - Summary of Ma

Debt Facilities - Summary of Maturities of Debt Facilities (Detail) $ in Thousands	Sep. 30, 2015USD ($)
Debt Disclosure [Abstract]
2015 (3 months remaining)	$ 16,268
2,016	212,791
2,017	50,100
2,018	46,565
2,019	345,401
Thereafter	2,778,724
Total long term debt	$ 3,449,849

Debt Facilities - Fair Value of

Debt Facilities - Fair Value of Debt Facilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
Mortgage and loans payable	$ 539,187	$ 553,045
Convertible debt	160,600	162,159
Senior notes	$ 2,731,233	$ 2,790,023

Debt Facilities - Interest Char

Debt Facilities - Interest Charges (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Debt Disclosure [Abstract]
Interest expense	$ 76,269	$ 63,756	$ 219,556	$ 199,450
Interest capitalized	1,831	5,565	8,677	13,050
Interest charges incurred	$ 78,100	$ 69,321	$ 228,233	$ 212,500

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - Sep. 30, 2015	GBP (£)	USD ($)
Telecity Group plc [Member]
Other Commitments [Line Items]
Cooperation agreement amount to secure acquisition clearances and authorization	£ 50,000,000	$ 76,415,000
Capital expenditures [Member]
Other Commitments [Line Items]
Purchase commitments		244,700,000
Miscellaneous purchase commitments [Member]
Other Commitments [Line Items]
Purchase commitments		$ 395,900,000

Stockholders' Equity - Componen

Stockholders' Equity - Components of Accumulated Other Comprehensive Loss (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of December 31, 2014	$ (332,443)
Net Change	(155,569)
Balance as of September 30, 2015	(488,012)
Foreign currency translation adjustment ("CTA") gain (loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of December 31, 2014	(336,946)
Net Change	(149,546)
Balance as of September 30, 2015	(486,492)
Unrealized gain (loss) on cash flow hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of December 31, 2014	6,603
Net Change	(425)
Balance as of September 30, 2015	6,178
Unrealized gain (loss) on available for sale securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of December 31, 2014	(99)
Net Change	99
Net investment hedge CTA loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net Change	(5,963)
Balance as of September 30, 2015	(5,963)
Defined benefit plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of December 31, 2014	(2,001)
Net Change	266
Balance as of September 30, 2015	$ (1,735)

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	Sep. 16, 2015	Jul. 29, 2015	Jun. 17, 2015	May. 07, 2015	Mar. 25, 2015	Feb. 19, 2015	Sep. 30, 2015	Feb. 28, 2015	Sep. 30, 2015	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Distribution, payment date		Sep. 16, 2015		Jun. 17, 2015		Mar. 25, 2015
Dividends payable, date of Record		Aug. 26, 2015		May 27, 2015		Mar. 11, 2015
Cash dividend declaration per share		$ 1.69		$ 1.69		$ 1.69
Total cash dividend paid	$ 96,408,000		$ 96,203,000		$ 96,196,000
Stock, shares issued								586,646
Equity awards subject to vesting provisions, weighted-average grant date fair value								$ 222.40
Equity awards subject to vesting provisions, weighted-average requisite service period, in years								3 years 5 months 9 days
Installment first quarter of fiscal year [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends declared date									Feb. 19, 2015
Installment second quarter of fiscal year [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends declared date									May 7, 2015
Installment third quarter of fiscal year [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends declared date									Jul. 29, 2015
2015 Special Distribution [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends payable							$ 627,289,000		$ 627,289,000
Special distribution, per share							$ 10.95		$ 10.95
Distribution, payment date							Nov. 10, 2015
Dividends payable, date of Record							Oct. 8, 2015
Total distribution payable to all stockholders							$ 125,400,000
Maximum percentage of total distribution payable to all stockholders							20.00%
Restricted stock units [Member] | Installment first quarter of fiscal year [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends payable										$ 2,630,000
Restricted stock units [Member] | Installment second quarter of fiscal year [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends payable							$ 2,443,000		$ 2,443,000
Restricted stock units [Member] | Installment third quarter of fiscal year [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends payable							$ 2,244,000		$ 2,244,000

Stockholders' Equity - Stock-Ba

Stockholders' Equity - Stock-Based Compensation Expense Recognized in Company's Condensed Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 33,969	$ 27,662	$ 98,575	$ 86,473
Cost of revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	2,514	2,145	7,371	6,243
Sales and marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	9,173	7,256	27,806	22,199
General and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 22,282	$ 18,261	$ 63,398	$ 58,031

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Segment	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Number of reportable segments			3
Customer concentration risk [Member]
Segment Reporting Information [Line Items]
Concentration risk, customer, description			No single customer accounted for 10% or greater of the Company's revenues for the three and nine months ended September 30, 2015 and 2014. No single customer accounted for 10% or greater of the Company's gross accounts receivable as of September 30, 2015 and December 31, 2014.
Revenues [Member] | Customer concentration risk [Member]
Segment Reporting Information [Line Items]
Concentration risk, customer, percentage	10.00%	10.00%	10.00%	10.00%
Accounts receivable [Member] | Customer concentration risk [Member]
Segment Reporting Information [Line Items]
Concentration risk, customer, percentage			10.00%		10.00%

Segment Information - Schedule

Segment Information - Schedule of Adjusted EBITDA (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Total adjusted EBITDA	$ 321,472	$ 283,861	$ 938,482	$ 819,526
Depreciation, amortization and accretion expense	(133,268)	(121,349)	(384,068)	(351,033)
Stock-based compensation expense	(33,969)	(27,662)	(98,575)	(86,473)
Acquisition costs	(13,352)	281	(24,374)	(580)
Income from operations	140,883	135,131	431,465	381,440
Americas [Member]
Segment Reporting Information [Line Items]
Total adjusted EBITDA	174,170	160,075	517,790	467,763
EMEA [Member]
Segment Reporting Information [Line Items]
Total adjusted EBITDA	81,403	69,786	236,967	198,342
Asia-Pacific [Member]
Segment Reporting Information [Line Items]
Total adjusted EBITDA	$ 65,899	$ 54,000	$ 183,725	$ 153,421

Segment Information - Segment D

Segment Information - Segment Disclosures (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Total revenues	$ 686,649	$ 620,441	$ 1,995,405	$ 1,805,655
Total depreciation and amortization	132,403	120,022	381,415	349,727
Capital expenditures	216,046	156,004	636,038	438,516
Americas [Member]
Segment Reporting Information [Line Items]
Total revenues	382,630	347,412	1,118,046	1,019,701
Total depreciation and amortization	69,721	66,198	205,674	188,990
Capital expenditures	105,250	77,241	340,905	232,462
EMEA [Member]
Segment Reporting Information [Line Items]
Total revenues	177,563	161,580	516,153	470,172
Total depreciation and amortization	32,851	27,454	86,991	84,875
Capital expenditures	39,816	35,177	124,299	77,842
Asia-Pacific [Member]
Segment Reporting Information [Line Items]
Total revenues	126,456	111,449	361,206	315,782
Total depreciation and amortization	29,831	26,370	88,750	75,862
Capital expenditures	$ 70,980	$ 43,586	$ 170,834	$ 128,212

Segment Information - Segment54

Segment Information - Segment Disclosures (Parenthetical) (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Business acquisitions, net of cash acquired	$ 10,247
Purchase of real estate	38,282	$ 16,791
Americas [Member]
Segment Reporting Information [Line Items]
Business acquisitions, net of cash acquired	10,247
Purchase of real estate	$ 38,282
Asia-Pacific [Member]
Segment Reporting Information [Line Items]
Purchase of real estate		$ 16,791

Segment Information - Long-Live

Segment Information - Long-Lived Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	$ 5,218,595	$ 4,998,270
Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	3,022,087	2,874,562
EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	1,136,938	1,135,319
Asia-Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	$ 1,059,570	$ 988,389

Segment Information - Revenue I

Segment Information - Revenue Information on Services Basis (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenue from External Customer [Line Items]
Revenue	$ 686,649	$ 620,441	$ 1,995,405	$ 1,805,655
Recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	646,721	588,437	1,883,069	1,712,298
Recurring Revenues [Member] | Colocation [Member]
Revenue from External Customer [Line Items]
Revenue	511,652	462,466	1,489,807	1,349,749
Recurring Revenues [Member] | Interconnection [Member]
Revenue from External Customer [Line Items]
Revenue	110,568	95,648	316,887	273,643
Recurring Revenues [Member] | Managed infrastructure services [Member]
Revenue from External Customer [Line Items]
Revenue	22,327	27,757	69,648	80,997
Recurring Revenues [Member] | Rental [Member]
Revenue from External Customer [Line Items]
Revenue	2,174	2,566	6,727	7,909
Non-recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	$ 39,928	$ 32,004	$ 112,336	$ 93,357

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - $ / shares	Oct. 28, 2015	Jul. 29, 2015	May. 07, 2015	Feb. 19, 2015
Subsequent Event [Line Items]
Cash dividend declaration per share		$ 1.69	$ 1.69	$ 1.69
Special distribution, payable date		Sep. 16, 2015	Jun. 17, 2015	Mar. 25, 2015
Dividends payable, date of Record		Aug. 26, 2015	May 27, 2015	Mar. 11, 2015
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends declared date	Oct. 28, 2015
Cash dividend declaration per share	$ 1.69
Special distribution, payable date	Dec. 16, 2015
Dividends payable, date of Record	Dec. 9, 2015