Equinix (EQIX) 10-Q 8 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 07, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	EQUINIX INC
Entity Central Index Key	1,101,239
Current Fiscal Year End Date	--12-31
Trading Symbol	EQIX
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		79,508,038

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 966,308	$ 1,412,517
Short-term investments	18,199	28,271
Accounts receivable, net of allowance for doubtful accounts of $16,881 and $18,228	616,472	576,313
Other current assets	249,846	232,027
Total current assets	1,850,825	2,249,128
Long-term investments	4,200	9,243
Property, plant and equipment, net	10,378,915	9,394,602
Goodwill	4,870,300	4,411,762
Intangible assets, net	2,440,087	2,384,972
Other assets	525,961	241,750
Total assets	20,070,288	18,691,457
Current liabilities:
Accounts payable and accrued expenses	710,584	719,257
Accrued property, plant and equipment	269,409	220,367
Current portion of capital lease and other financing obligations	85,263	78,705
Current portion of mortgage and loans payable	75,224	64,491
Current portion of senior notes	150,828	0
Other current liabilities	142,312	159,914
Total current liabilities	1,433,620	1,242,734
Capital lease and other financing obligations, less current portion	1,426,368	1,620,256
Mortgage and loans payable, less current portion	1,317,940	1,393,118
Senior notes, less current portion	8,334,383	6,923,849
Other liabilities	633,450	661,710
Total liabilities	13,145,761	11,841,667
Commitments and contingencies (Note 9)
Stockholders' equity:
Common stock, $0.001 par value per share: 300,000,000 shares authorized; 79,507,996 and 79,038,062 shares outstanding	80	79
Additional paid-in capital	10,253,155	10,121,323
Treasury stock, at cost; 399,088 and 402,342 shares	(145,632)	(146,320)
Accumulated dividends	(2,960,183)	(2,592,792)
Accumulated other comprehensive loss	(877,994)	(785,189)
Retained earnings	655,101	252,689
Total stockholders' equity	6,924,527	6,849,790
Total liabilities and stockholders' equity	$ 20,070,288	$ 18,691,457

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets - Parenthetical - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 16,881	$ 18,228
Common Stock, Par value per share (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares authorized	300,000,000	300,000,000
Common Stock, Shares outstanding	79,507,996	79,038,062
Treasury stock, at cost (shares)	399,088	402,342

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Revenues	$ 1,261,943	$ 1,066,421	$ 2,477,820	$ 2,015,946
Costs and operating expenses:
Cost of revenues	651,801	522,203	1,274,231	991,164
Sales and marketing	154,202	141,566	313,978	270,493
General and administrative	210,489	191,355	413,646	372,754
Acquisition costs	30,413	26,402	35,052	29,427
Total costs and operating expenses	1,046,905	881,526	2,036,907	1,663,838
Income from operations	215,038	184,895	440,913	352,108
Interest income	3,958	4,437	8,568	7,529
Interest expense	(134,673)	(119,042)	(260,950)	(230,726)
Other income (expense)	8,866	1,284	5,802	1,621
Loss on debt extinguishment	(19,215)	(16,444)	(40,706)	(19,947)
Income before income taxes	73,974	55,130	153,627	110,585
Income tax expense	(6,356)	(9,325)	(23,115)	(22,718)
Net income	$ 67,618	$ 45,805	$ 130,512	$ 87,867
Earnings per share (EPS):
Basic EPS (in dollars per share)	$ 0.85	$ 0.59	$ 1.64	$ 1.17
Weighted-average shares for basic EPS (in shares)	79,479	77,923	79,361	75,383
Diluted EPS (in dollars per share)	$ 0.85	$ 0.58	$ 1.64	$ 1.16
Weighted-average shares for diluted EPS (in shares)	79,752	78,508	79,746	76,008
Cash dividends declared (in dollars per share)	$ 2.28	$ 2	$ 4.56	$ 4

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 67,618	$ 45,805	$ 130,512	$ 87,867
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment (CTA) gain (loss), net of tax effect of $5,985, $0, $5,985 and $0	(421,233)	200,983	(275,382)	307,921
Net investment hedge CTA gain (loss), net of tax effect of $0, $0, $1,637 and $0	226,115	(101,847)	153,480	(130,398)
Unrealized loss on available-for-sale securities, net of tax effect of $0, $29, $0 and $(70)	0	(65)	0	(330)
Unrealized gain (loss) on cash flow hedges, net of tax effects of $(11,758), $9,240, $(10,398) and $13,291	35,280	(27,671)	31,200	(39,398)
Net actuarial gain on defined benefit plans, net of tax effects of $(4), $(4), $(10) and $(10)	13	15	21	26
Total other comprehensive income (loss), net of tax	(159,825)	71,415	(90,681)	137,821
Comprehensive income (loss), net of tax	$ (92,207)	$ 117,220	$ 39,831	$ 225,688

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Loss) - Parenthetical - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment (CTA) gain (loss), tax	$ 5,985	$ 0	$ 5,985	$ 0
Net investment hedge CTA gain (loss), tax	0	0	1,637	0
Unrealized gain (loss) on available-for-sale securities, tax	0	29	0	(70)
Unrealized gain (loss) on cash flow hedges, tax	(11,758)	9,240	(10,398)	13,291
Net actuarial gain on defined benefit plans, tax	$ (4)	$ (4)	$ (10)	$ (10)

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net income	$ 130,512	$ 87,867
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	513,248	392,617
Stock-based compensation	92,261	83,948
Amortization of intangible assets	101,651	79,175
Amortization of debt issuance costs and debt discounts and premiums	7,461	15,710
Provision for allowance for doubtful accounts	3,606	7,989
Loss on debt extinguishment	40,706	19,947
Other items	7,998	3,773
Changes in operating assets and liabilities:
Accounts receivable	(38,441)	(151,900)
Income taxes, net	(22,866)	(33,927)
Other assets	3,536	20,285
Accounts payable and accrued expenses	(24,325)	16,171
Other liabilities	24,288	12,189
Net cash provided by operating activities	839,635	553,844
Cash flows from investing activities:
Purchases of investments	(54,421)	(26,257)
Sales and maturities of investments	67,164	29,456
Business acquisitions, net of cash and restricted cash acquired	(830,993)	(3,629,654)
Purchases of real estate	(41,782)	(48,580)
Purchases of other property, plant and equipment	(869,968)	(625,814)
Proceeds from sale of assets, net of cash transferred	0	47,767
Net cash used in investing activities	(1,730,000)	(4,253,082)
Cash flows from financing activities:
Proceeds from employee equity awards	25,860	20,119
Payment of dividends and special distribution	(368,759)	(304,373)
Proceeds from public offering of common stock, net of issuance costs	7,622	2,126,341
Proceeds from senior notes	929,850	1,250,000
Proceeds from loans payable	0	1,059,800
Repayments of capital lease and other financing obligations	(69,856)	(44,460)
Repayments of mortgage and loans payable	(25,415)	(42,305)
Debt extinguishment costs	(20,556)	(11,254)
Debt issuance costs	(11,583)	(40,619)
Other financing activities	580	(900)
Net cash provided by financing activities	467,743	4,012,349
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash	(25,840)	16,868
Net increase in cash, cash equivalents and restricted cash	(448,462)	329,979
Cash, cash equivalents and restricted cash at beginning of period	1,450,701	773,247
Cash, cash equivalents and restricted cash at end of period	1,002,239	1,103,226
Cash and cash equivalents	966,308	1,063,777
Current portion of restricted cash included in other current assets	25,277	28,965
Non-current portion of restricted cash included in other assets	$ 10,654	$ 10,484

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	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, 2017 has been derived from audited consolidated financial statements as of that date. The condensed 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 ("U.S. 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 February 26, 2018. 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, including the acquisitions of the Metronode group of companies from April 18, 2018, Infomart Dallas from April 2, 2018, Itconic from October 9, 2017, the Zenium data center from October 6, 2017, the Verizon data center business from May 1, 2017, and the IO UK data center operating business from February 3, 2017. All intercompany accounts and transactions have been eliminated in consolidation. Income Taxes The Company elected to be taxed as a real estate investment trust for federal income tax purposes ("REIT") beginning with its 2015 taxable year. As a result, the Company may deduct the distributions made to its stockholders from taxable income generated by the Company and its qualified REIT subsidiaries ("QRSs"). The Company’s dividends paid deduction generally eliminates the U.S. taxable income of the Company and its QRSs, resulting in no U.S. income tax due. However, the Company's 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 QRSs or TRSs. 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 performance of the Company, tax law changes and future business acquisitions. The Company's effective tax rates were 15.0% and 20.5% for the six months ended June 30, 2018 and 2017 , respectively. The decrease in the effective tax rate for the six months ended June 30, 2018 as compared to the same period in 2017 is primarily due to the reduction of net deferred tax liabilities as a result of a legal entity reorganization in the Company's Americas region during the six months ended June 30, 2018. The Company’s accounting for deferred taxes involves weighing positive and negative evidence relating to the realizability of deferred tax assets in each tax jurisdiction. After considering such evidence as the nature, frequency, severity of current and cumulative financial reporting losses, and sources of future taxable incomes and tax planning strategies, the Company concluded that valuation allowances were still required in certain foreign jurisdictions. Given the strength of the Company’s operations, combined with certain tax strategies, it is reasonably possible that within the next 12 months, positive evidence will be sufficient to release a significant amount of valuation allowance in certain foreign jurisdictions. Release of valuation allowance would result in recognition of certain deferred tax assets and a decrease to income tax expense for the period the release is recorded. The exact timing and amount of the valuation allowance release are subject to change based on the profitability that the foreign jurisdictions are able to sustain. The Company will continue to evaluate the release of valuation allowances on a quarterly basis. Legislation commonly referred to as the Tax Cuts and Jobs Act (“TCJA”), which was signed into law on December 22, 2017, contains many significant changes to the existing U.S. federal income tax laws. Among other things, the TCJA reduces the U.S. corporate income tax rate from 35% to 21% effective January 1, 2018, limits the tax deductibility of interest expense, accelerates expensing of certain business assets and transitions the U.S. international taxation from a worldwide tax system to a territorial tax system by imposing a one-time mandatory repatriation of undistributed foreign earnings. The Company recognized an income tax expense of $6.5 million during the fourth quarter of 2017, which is a provisional amount related to the re-measurement of the net deferred tax assets in the U.S. TRS as a result of the reduced corporate income tax rate. The Company is still analyzing the new tax legislation and assessing the impact as of the end of the current quarter. The Company will conclude whether any adjustments are required to its net deferred tax asset balance in the U.S. when it files its 2017 U.S. federal tax return in the fourth quarter of 2018. Any adjustments to these provisional amounts will be reported as a component of tax expense (benefit) in the reporting period when such adjustments are determined. Recent Accounting Pronouncements Accounting Standards Not Yet Adopted In August 2017, Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2017-12 Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. This ASU was issued to improve the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements and to simplify the application of the hedge accounting guidance in current GAAP. This ASU permits hedge accounting for risk components involving nonfinancial risk and interest rate risk, requires an entity to present the earnings effect of the hedging instrument in the same income statement line item in which the hedged item is reported, no longer requires separate measurement and reporting of hedge ineffectiveness, eases the requirement for hedge effectiveness assessment, and requires a tabular disclosure related to the effect on the income statement of fair value and cash flow hedges. This ASU is effective for annual or any interim reporting periods beginning after December 15, 2018 with early adoption permitted. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements, including its accounting policies, processes and systems. In June 2016, FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The ASU requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The ASU requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization's portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted for all organizations for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company expects this ASU to impact its accounting for allowances for doubtful accounts and is currently evaluating the extent of the impact that the adoption of this standard will have on its consolidated financial statements, including its accounting policies, processes and systems. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) ("ASU 2016-02") and issued subsequent amendments to the initial guidance. Under the new guidance, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee's right to use, or control the use of, a specified asset for the lease term. The standard allows entities to adopt with one of two methods: the modified retrospective transition method or the alternative transition method. The Company currently anticipates adopting the standard using the alternative transition method, under which the Company will recognize the cumulative effects of initially applying the standard as an adjustment to the opening balance of retained earnings in the period of adoption. The new guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The Company will adopt the standard on January 1, 2019. The Company plans to elect the practical expedient that it will not reassess whether any expired or existing contracts are or contain leases, the lease classification for any expired or existing leases or initial direct costs for any existing leases. The Company expects to record a significant increase in assets and liabilities on the consolidated balance sheet at adoption due to the recording of right-of-use assets and corresponding lease liabilities for leases that are accounted for as operating leases. The Company is currently evaluating the extent of the impact that the adoption of this standard will have on its consolidated financial statements, including its accounting policies, processes and systems. Accounting Standards Adopted In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers ("ASU 2014-09") and issued subsequent amendments to the initial guidance, collectively referred as "Topic 606." Topic 606 replaces most existing revenue recognition guidance in U.S. GAAP. The core principle of Topic 606 is that an entity should recognize revenue for the transfer of control of the goods or services equal to the amount that it expects to be entitled to receive for those goods or services. Topic 606 requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. On January 1, 2018, the Company adopted Topic 606 using the modified retrospective approach applied to those contracts, which were not completed as of January 1, 2018, and recognized a net increase to the opening retained earnings of $269.8 million , net of tax impacts. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while the comparative information has not been restated and continues to be reported under accounting standards in effect for those periods. In adopting the new guidance, the Company elected to apply the practical expedient which allows the Company, when using the modified retrospective method of adoption, to not retrospectively restate contracts with multiple modifications on a modification by modification basis. Instead, the Company will reflect the aggregate amount of all modifications that occur before the beginning of the earliest period presented using the new standard. In addition, where appropriate, the Company elected to apply the practical expedient to account for the new standard under the portfolio approach as the Company reasonably expects that the effects of applying the guidance under the portfolio approach will not differ materially from applying the guidance to individual contracts. The most significant impacts to the Company from Topic 606 relate to installation revenue and the cost to obtain contracts. Under the new standard, the Company now recognizes installation revenue over the contract period rather than over the estimated installation life as under the prior revenue standard. Under the new standard, the Company is also required to capitalize and amortize certain costs to obtain contracts, rather than expense them immediately as under the previous standard. The cumulative effect of the changes made to the Company's consolidated January 1, 2018 balance sheet from the adoption of Topic 606 was as follows (in thousands): Balance Sheet Balance at December 31, 2017 Adjustments due to adoption of Topic 606 Balance at January 1, 2018 Assets Other current assets $ 232,027 $ 9,002 $ 241,029 Other assets (1) 241,750 179,578 421,328 Liabilities Other current liabilities 159,914 (16,215 ) 143,699 Other liabilities (2) 661,710 (63,051 ) 598,659 Equity Accumulated other comprehensive loss (3) (785,189 ) (1,930 ) (787,119 ) Retained earnings $ 252,689 $ 269,776 $ 522,465 (1) Includes cumulative adjustments related to cost to obtain contracts, non-current contract assets and deferred tax assets. (2) Includes cumulative adjustments related to non-current deferred revenue and deferred tax liabilities. (3) Includes cumulative adjustments related to CTA. The following tables summarize the effects of adopting Topic 606 on the unaudited condensed consolidated financial statement line items (in thousands, except per share data): Balance Sheets June 30, 2018 Adjustments Balances without adoption of Topic 606 Other current assets $ 249,846 $ (9,675 ) $ 240,171 Total current assets 1,850,825 (9,675 ) 1,841,150 Other assets 525,961 (183,843 ) 342,118 Total assets $ 20,070,288 $ (193,518 ) $ 19,876,770 Accounts payable and accrued expenses $ 710,584 $ (1,569 ) $ 709,015 Other current liabilities 142,312 15,588 157,900 Total current liabilities 1,433,620 14,019 1,447,639 Other liabilities 633,450 68,038 701,488 Total liabilities 13,145,761 82,057 13,227,818 Accumulated other comprehensive loss (877,994 ) 5,716 (872,278 ) Retained earnings 655,101 (281,291 ) 373,810 Total stockholders' equity 6,924,527 (275,575 ) 6,648,952 Total liabilities and stockholders' equity $ 20,070,288 $ (193,518 ) $ 19,876,770 Statements of Operations Three Months Ended Adjustments Balance without adoption of Topic 606 Six Months Ended Adjustments Balance without adoption of Topic 606 Revenues $ 1,261,943 $ (2,521 ) $ 1,259,422 $ 2,477,820 $ (6,357 ) $ 2,471,463 Sales and marketing 154,202 4,376 158,578 313,978 7,678 321,656 Total costs and operating expenses 1,046,905 4,376 1,051,281 2,036,907 7,678 2,044,585 Income from operations 215,038 (6,897 ) 208,141 440,913 (14,035 ) 426,878 Income before income taxes 73,974 (6,897 ) 67,077 153,627 (14,035 ) 139,592 Income tax expense (6,356 ) 1,146 (5,210 ) (23,115 ) 2,520 (20,595 ) Net income $ 67,618 $ (5,751 ) $ 61,867 $ 130,512 $ (11,515 ) $ 118,997 Basic EPS $ 0.85 $ (0.07 ) $ 0.78 $ 1.64 $ (0.14 ) $ 1.50 Diluted EPS $ 0.85 $ (0.07 ) $ 0.78 $ 1.64 $ (0.15 ) $ 1.49 Statements of Cash Flow Six Months Ended Adjustments Balance without adoption of Topic 606 Cash flows from operating activities: Net income (loss) $ 130,512 $ (11,515 ) $ 118,997 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Changes in operating assets and liabilities: Income taxes, net (22,866 ) 1,708 (21,158 ) Other assets 3,536 1,509 5,045 Other liabilities 24,288 8,298 32,586 Net cash provided by operating activities $ 839,635 $ — $ 839,635 The Company also adopted the following standards during 2018, none of which had a material impact to the Company's condensed consolidated financial statements or financial statement disclosures: Standards Description Effective Date and Adoption Consideration ASU 2017-09 Compensation–Stock Compensation (Topic 718) This ASU was issued primarily to provide clarity and reduce both diversity in practice and cost and complexity when applying the guidance in Topic 718 to a change to the terms or conditions of a share-based payment award. This ASU affects any entity that changes the terms or conditions of a share-based payment award. This ASU provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. January 1, 2018 ASU 2017-07 Compensation–Retirement Benefits (Topic 715) This ASU was issued primarily to improve the presentation of net periodic pension cost and net periodic post-retirement benefit cost. This ASU requires that an employer reports the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. It also requires the other components of net periodic pension cost and net periodic post-retirement benefit cost to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. Additionally, only the service cost component is eligible for capitalization, when applicable. January 1, 2018 ASU 2017-05 Other Income—Gains and Losses from the Derecognition of Non-Financial Assets (Subtopic 610-20) This ASU is to clarify the scope of the non-financial asset guidance in Subtopic 610-20 and to add guidance for partial sales of non-financial assets. This ASU defines the term in substance non-financial asset and clarifies that non-financial assets within the scope of Subtopic 610-20 may include non-financial assets transferred within a legal entity to a counterparty. The ASU also provides guidance on the accounting for what often are referred to as partial sales of non-financial assets within the scope of Subtopic 610-20 and contributions of non-financial assets to a joint venture or other non-controlled investee. January 1, 2018 ASU 2017-04 Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This ASU is to simplify the subsequent measurement of goodwill. The ASU eliminates step 2 from the goodwill impairment test and the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform step 2 of the goodwill impairment test. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The Company elected to early adopt this ASU on a prospective basis, effective January 1, 2018. ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business This ASU provides new guidance to assist entities with evaluating when a set of transferred assets and activities is a business. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The Company adopted this standard on a prospective basis, effective January 1, 2018. The adoption of this standard may impact the accounting of future transactions. ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory This ASU requires the recognition of the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. January 1, 2018 ASU 2016-01 Financial Instruments- Overall (Subtopic 825-10) This ASU requires all equity investments to be measured at fair value with changes in the fair value recognized through net income other than those accounted for under equity method of accounting or those that result in consolidation of the investees. The ASU also requires that an entity present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The Company adopted this standard using the modified retrospective method, effective January 1, 2018 and recorded a net increase to retained earnings of $2.1 million.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue Recognition Equinix derives more than 90% of its revenues from recurring revenue streams, consisting primarily of (1) colocation, which includes the licensing of cabinet space and power; (2) interconnection offerings, such as cross connects and Equinix Exchange ports; (3) managed infrastructure solutions and (4) other revenues consisting of rental income from tenants or subtenants. The remainder of the Company’s revenues are from non-recurring revenue streams, such as installation revenues, professional services, contract settlements and equipment sales. Revenues are recognized when control of these products and services is transferred to its customers, in an amount that reflects the consideration it expects to be entitled to in exchange for the products and services. Revenues by service lines and geographic areas are included in segment information (see Note 11). Revenues from recurring revenue streams are generally billed monthly and recognized ratably over the term of the contract, generally one to three years for IBX data center colocation customers. Non-recurring installation fees, although generally paid upfront upon installation, are deferred and recognized ratably over the contract term. Professional service fees and equipment sales are recognized in the period when the services were provided. For the contracts with customers that contain multiple performance obligations, the Company accounts for individual performance obligations separately if they are distinct or as a series of distinct obligations if the individual performance obligations meet the series criteria. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. The transaction price is allocated to the separate performance obligation on a relative standalone selling price basis. The standalone selling price is determined based on overall pricing objectives, taking into consideration market conditions, geographic locations and other factors. Other judgments include determining if any variable consideration should be included in the total contract value of the arrangement such as price increases. Revenue is generally recognized on a gross basis in accordance with the accounting standard related to reporting revenue on a gross basis as a principal versus on a net basis as an agent, as the Company is primarily responsible for fulfilling the contract, bears inventory risk and has discretion in establishing the price when selling to the customer. To the extent the Company does not meet the criteria for recognizing revenue on a gross basis, the Company records the revenue on a net basis. Revenue from contract settlements, when a customer wishes to terminate their contract early, is generally treated as a contract modification and recognized ratably over the remaining term of the contract, if any. The Company guarantees certain service levels, such as uptime, as outlined in individual customer contracts. If these service levels are not achieved due to any failure of the physical infrastructure or offerings, or in the event of certain instances of damage to customer infrastructure within the Company’s IBX data centers, the Company would reduce revenue for any credits or cash payments given to the customer. Historically, these credits and cash payments have generally not been significant. As a result of certain customer agreements being priced in currencies different from the functional currencies of the parties involved, under applicable accounting rules, the Company is deemed to have foreign currency forward contracts embedded in these contracts. The Company assessed these embedded contracts and concluded them to be foreign currency embedded derivatives (see Note 5). These instruments are separated from their host contracts and held on the Company’s condensed consolidated balance sheet at their fair value. The majority of these foreign currency embedded derivatives arise in certain of the Company’s subsidiaries where the local currency is the subsidiary’s functional currency and the customer contract is denominated in the U.S. dollar. Changes in their fair values are recognized within revenues in the Company’s condensed consolidated statements of operations. Contract Balances The timing of revenue recognition, billings and cash collections result in accounts receivables, contract assets and deferred revenues. A receivable is recorded at the invoice amount, net of an allowance for doubtful account and is recognized in the period when the Company has transferred products or provided services to its customers and when its right to consideration is unconditional. Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 45 days. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined that the Company's contracts generally do not include a significant financing component. The Company assesses collectability based on a number of factors, including past transaction history with the customer and the credit-worthiness of the customer. The Company generally does not request collateral from its customers although in certain cases the Company obtains a security interest in a customer’s equipment placed in its IBX data centers or obtains a deposit. The Company also maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments for which the Company had expected to collect the revenues. If the financial condition of the Company’s customers were to deteriorate or if they became insolvent, resulting in an impairment of their ability to make payments, greater allowances for doubtful accounts may be required. Management specifically analyzes accounts receivable and current economic news and trends, historical bad debts, customer concentrations, customer credit-worthiness and changes in customer payment terms when evaluating revenue recognition and the adequacy of the Company’s reserves. Any amounts that were previously recognized as revenue and subsequently determined to be uncollectable are charged to bad debt expense included in sales and marketing expense in the condensed consolidated statements of operations. A specific bad debt reserve of up to the full amount of a particular invoice value is provided for certain problematic customer balances. An additional reserve is established for all other accounts based on the age of the invoices and an analysis of historical credits issued. Delinquent account balances are written off after management has determined that the likelihood of collection is not probable. A contract asset exists when the Company has transferred products or provided services to its customers, but customer payment is contingent upon satisfaction of additional performance obligation. Certain contracts include terms related to price arrangements such as price increases and free months. The Company recognizes revenues ratably over the contract term, which could potentially give rise to contract assets during certain periods of the contract term. Contract assets are recorded in other current assets and other assets in the condensed consolidated balance sheet. Deferred revenue (a contract liability) is recognized when the Company has an unconditional right to a payment before it transfers goods or services to customers. Deferred revenue is included in other current liabilities and other liabilities, respectively, in the condensed consolidated balance sheet. The following table summarizes the opening and closing balances of the Company's receivables; contract asset, current; contract asset, non-current; deferred revenue, current; and deferred revenue, non-current (in thousands): Receivables Contract asset, current Contract asset, non-current Deferred revenue, current Deferred revenue, non-current Beginning balances as of January 1, 2018 (1) $ 576,313 $ 9,002 $ 16,186 $ 71,085 $ 53,101 Closing balances as of June 30, 2018 616,472 9,748 16,010 80,464 48,863 Increase/(decrease) $ 40,159 $ 746 $ (176 ) $ 9,379 $ (4,238 ) (1) Includes cumulative adjustments made to these accounts on January 1, 2018 from the adoption of Topic 606. The difference between the opening and closing balances of the Company's contract assets and deferred revenues primarily results from the timing difference between the Company's performance obligation and the customer's payment, as well as business combinations closed during the six months ended June 30, 2018 . The amounts of revenue recognized during the six months ended June 30, 2018 from the opening deferred revenue balance was $55.0 million . For the three and six months ended June 30, 2018 , no impairment loss related to contract balances was recognized in the condensed consolidated statement of operations. Contract Costs Direct and indirect costs solely related to obtaining revenue contracts are capitalized as costs of obtaining a contract, when they are incremental and if they are expected to be recovered. Such costs consist primarily of commission fees and sales bonuses, as well as indirect related payroll costs. Contract costs are amortized over the estimated period of benefit on a straight-line basis. The Company elected to apply the practical expedient which allows the Company to expense contract costs when incurred, if the amortization period is one year or less. The ending balance of net capitalized contract costs as of June 30, 2018 was $176.8 million , which was included in other assets in the condensed consolidated balance sheet. For the three and six months ended June 30, 2018 , $17.8 million and $35.3 million of contract costs were amortized, which were included in sales and marketing expense in the condensed consolidated statement of operations. Remaining performance obligations As of June 30, 2018 , approximately $5.6 billion of total revenues and deferred installation revenues are expected to be recognized in future periods, the majority of which will be recognized over the next 24 months. While initial contract terms vary in length, substantially all contracts thereafter automatically renew in one-year increments. Included in the remaining performance obligations is either 1) remaining performance obligations under the initial contract terms or 2) remaining performance obligations related to contracts in the renewal period once the initial terms have lapsed. The remaining performance obligations also do not include variable consideration related to unsatisfied performance obligations such as the usage of metered power or any contracts that could be terminated without any significant penalties such as the majority of interconnection revenues. The remaining performance obligations include some leasing activities that are insignificant to the Company’s total operations. The Company elected to apply the practical expedient that allows the Company not to disclose the remaining performance obligations for variable consideration that is allocated to entirely unsatisfied performance obligations or to a wholly unsatisfied distinct good or service that forms part of a single obligation.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share	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 Six Months Ended 2018 2017 2018 2017 Net income $ 67,618 $ 45,805 $ 130,512 $ 87,867 Weighted-average shares used to calculate basic EPS 79,479 77,923 79,361 75,383 Effect of dilutive securities: Employee equity awards 273 585 385 625 Weighted-average shares used to calculate diluted EPS 79,752 78,508 79,746 76,008 Basic EPS $ 0.85 $ 0.59 $ 1.64 $ 1.17 Diluted EPS $ 0.85 $ 0.58 $ 1.64 $ 1.16 The Company has excluded common stock related to employee equity awards in the diluted EPS calculation above of 220,000 shares and 4,000 shares for the three months ended June 30, 2018 and 2017, respectively, and 247,000 shares and 52,000 shares for the six months ended June 30, 2018 and 2017, respectively, because their effect would be anti-dilutive.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
Acquisitions	Acquisitions 2018 Acquisitions On April 18, 2018, the Company acquired all of the equity interests in the Metronode group of companies ("Metronode") from the Ontario Teachers' Pension Plan Board for a cash purchase price of A$1.033 billion or approximately $804.2 million at the exchange rate in effect on April 18, 2018 (the "Metronode Acquisition"). Metronode operated 10 data centers in six metro areas in Australia. The acquisition supports the Company’s ongoing global expansion to meet customer demand in the Asia-Pacific region. On April 2, 2018, the Company completed the acquisition of Infomart Dallas, including its operations and tenants, from ASB Real Estate Investments (the "Infomart Dallas Acquisition"), for total consideration of approximately $805.6 million . The consideration was comprised of approximately $47.4 million in cash, subject to customary adjustments, and $758.2 million aggregate fair value of 5.000% senior unsecured notes (see Note 8). Prior to the acquisition, a portion of the building was leased to the Company and was being used as its Dallas 1, 2, 3 and 6 data centers, which were all accounted for as build-to-suit leases. Upon acquisition, the Company effectively terminated the leases and settled the related financing obligations and other liabilities related to the leases for approximately $170.3 million and $1.9 million , respectively, and recognized a loss on debt extinguishment of $19.5 million . The acquisition of this highly interconnected facility and tenants adds to the Company’s global platform and secures the ability to further expand in the Americas market in the future. Both acquisitions constitute a business under the accounting standard for business combinations and, therefore, were accounted for as business combinations using the acquisition method of accounting. Under the acquisition method of accounting, the total purchase price is allocated to the assets acquired and liabilities assumed measured at fair value on the date of acquisition. A summary of the allocation of total purchase consideration is presented as follows (in thousands): Metronode Infomart Dallas Cash and cash equivalents $ 3,206 $ 17,432 Accounts receivable 8,318 637 Other current assets 9,894 395 Property, plant, and equipment 307,151 362,023 Intangible assets 123,388 61,233 Goodwill 368,550 203,617 Deferred tax assets 4,112 — Other assets (1) 54,338 — Total assets acquired 878,957 645,337 Accounts payable and accrued liabilities (17,104 ) (5,056 ) Other current liabilities (2,038 ) (2,141 ) Other liabilities (1) (55,581 ) (4,723 ) Net assets acquired $ 804,234 $ 633,417 (1) In connection with the Metronode Acquisition, the Company recorded indemnification assets of $54.3 million , which represented the seller's obligation under the purchase agreement to reimburse pre-acquisition tax liabilities settled after the acquisition. The following table presents certain information on the acquired intangible assets (in thousands): Intangible Assets Fair Value Estimated Useful Lives (Years) Weighted-average Estimated Useful Lives (Years) Customer relationships (Metronode) $ 123,388 20.0 20.0 Customer relationships (Infomart Dallas) 31,195 20.0 20.0 In-place leases (Infomart Dallas) 19,959 3.6 - 7.5 6.8 Trade names (Infomart Dallas) 9,614 20.0 20.0 Favorable leases (Infomart Dallas) 465 3.6 - 7.5 7.0 The fair value of customer relationships was estimated by applying an income approach, by calculating the present value of estimated future operating cash flows generated from existing customers less costs to realize the revenue. The Company applied discount rates of 7.3% for Metronode and 8.0% for Infomart Dallas, which reflect the nature of the assets as they relate to the risk and uncertainty of the estimated future operating cash flows. Other significant assumptions used to estimate the fair value of customer relationships include projected revenue growth, probability of renewal, customer attrition rates and operating margins. The fair value of Infomart Dallas' trade name was estimated using the relief from royalty approach. The Company applied a relief from royalty rate of 1.5% and a discount rate of 8.0% . The fair value of in-place leases was estimated by projecting the avoided costs, such as the cost of originating the acquired in-place leases, during a typical lease up period. The fair value measurements were based on significant inputs that are not observable in the market and thus represent Level 3 measurements as defined in the accounting standard for fair value measurements. The fair value of property, plant and equipment was estimated by applying the cost approach, with the exception of land which was estimated by applying the market approach, for the Metronode Acquisition. For the Infomart Dallas Acquisition, the fair values of land, building and personal property were estimated by applying the market approach, residual income method and cost approach, respectively. The cost approach uses the replacement or reproduction cost as an indicator of fair value. The premise of the cost approach is that a market participant would pay no more for an asset than the amount for which the asset could be replaced or reproduced. The key assumptions of the cost approach include replacement cost new, physical deterioration, functional and economic obsolescence, economic useful life, remaining useful life, age and effective age. The residual income method estimates the fair value of the Infomart Dallas building using an income approach less the fair values attributed to land, personal property, in-place leases and favorable and unfavorable leases. As of June 30, 2018 , the Company has not completed the detailed valuation analysis of Metronode or Infomart Dallas to derive the fair value of the following items including, but not limited to: property, plant and equipment, intangible assets and related tax impacts; therefore, the allocation of the purchase price to assets acquired and liabilities assumed is based on provisional estimates and is subject to continuing management analysis. Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired and liabilities assumed. Goodwill is attributable to the workforce of the acquired business and the projected revenue increase expected to arise from future customers after the Metronode and Infomart Dallas acquisitions. Goodwill from the acquisition of Metronode is not amortizable for local tax purposes and is attributable to the Company's Asia-Pacific region. Goodwill from the acquisition of Infomart Dallas is expected to be deductible for local tax purposes and is attributable to the Company's Americas region. Operating results of Metronode and Infomart Dallas will be reported in the Asia-Pacific and Americas regions, respectively. For the first half of 2018, the Company's results of operations include $24.0 million of revenues and an insignificant net income from operations from the combined operations of Metronode and Infomart Dallas. Certain Verizon Data Center Assets Acquisition On May 1, 2017, the Company completed the acquisition of certain colocation business from Verizon consisting of 29 data center buildings located in the United States, Brazil and Colombia, for a cash purchase price of approximately $3.6 billion (the "Verizon Data Center Acquisition"). The addition of these facilities and customers adds to the Company's global platform, increases interconnections and assists with the Company's penetration of the enterprise and strategic markets, including government and energy. The Company incurred acquisition costs of approximately $24.5 million and $26.4 million during the three and six months ended June 30, 2017 , respectively. Acquisition costs incurred for the three and six months ended June 30, 2018 were not significant to the Company's condensed consolidated statements of operations. Purchase Price Allocation The final purchase price allocation is as follows (in thousands): Certain Verizon Data Center Assets Cash and cash equivalents $ 1,073 Accounts receivable 2,019 Other current assets 7,319 Property, plant, and equipment 840,335 Intangible assets (1) 1,693,900 Goodwill 1,095,262 Total assets acquired 3,639,908 Accounts payable and accrued liabilities (1,725 ) Other current liabilities (2,020 ) Capital lease and other financing obligations (17,659 ) Deferred tax liabilities (18,129 ) Other liabilities (5,689 ) Net assets acquired $ 3,594,686 (1) The nature of the intangible assets acquired is customer relationships with an estimated useful life of 15 years. Included in this amount is a customer relationship intangible asset for Verizon totaling $245.3 million . Pursuant to the acquisition agreement, the Company formalized agreements to provide pre-existing space and services to Verizon at the acquired data centers. The fair value of customer relationships was estimated by applying an income approach. The Company applied discount rates ranging from 7.7% to 12.2% , which reflected the nature of the assets as they relate to the risk and uncertainty of the estimated future operating cash flows. Other significant assumptions used to estimate the fair value of customer relationships include projected revenue growth, customer attrition rates, sales and marketing expenses and operating margins. The fair value measurements were based on significant inputs that are not observable in the market and thus represent Level 3 measurements as defined in the accounting standard for fair value measurements. The fair value of property, plant and equipment was estimated by applying the cost approach, with the exception of land which was estimated by applying the market approach. The cost approach is to use the replacement or reproduction cost as an indicator of fair value. The key assumptions of the cost approach include replacement cost new, physical deterioration, functional and economic obsolescence, economic useful life, remaining useful life, age and effective age. Goodwill is attributable to the workforce of the acquired business and the projected revenue increase expected to arise from future customers after the Verizon Data Center Acquisition. Goodwill is expected to be deductible for U.S. tax purposes and is attributable to the Company's Americas region. The Company's results of operations include the Verizon Data Center Acquisition's revenues of $86.7 million and net income from operations of $27.4 million for the period May 1, 2017 through June 30, 2017. For the three and six months ended June 30, 2018 , the Company's results of operations include the Verizon Data Center Acquisition's revenues of $133.3 million and $268.1 million , respectively, and net income from operations of $34.3 million and $70.1 million , respectively. Other 2017 Acquisitions In addition to the Verizon Data Center Acquisition, the Company also acquired Itconic and Zenium's data center business in Istanbul during 2017. Acquisition costs incurred for these acquisitions during the three and six months ended June 30, 2018 were not significant to the Company's condensed consolidated statements of operations. A summary of the allocation of total purchase consideration is presented as follows (in thousands): Itconic Zenium Cash and cash equivalents $ 15,659 $ 692 Accounts receivable 16,429 198 Other current assets 1,885 6,430 Property, plant, and equipment 65,356 58,931 Intangible assets 101,755 7,900 Goodwill 126,855 21,834 Other assets 4,025 313 Total assets acquired 331,964 96,298 Accounts payable and accrued liabilities (15,847 ) (1,012 ) Other current liabilities (12,374 ) (451 ) Capital lease and other financing obligations (30,666 ) — Loans payable (3,253 ) — Deferred tax liabilities (3,198 ) (2,227 ) Other liabilities (7,515 ) (614 ) Net assets acquired $ 259,111 $ 91,994 On October 9, 2017, the Company completed the acquisition of Itconic for a cash purchase price of €220.5 million or $259.1 million at the exchange rate in effect on October 9, 2017. Itconic was a data center provider in Spain and Portugal, and also included CloudMas, an Itconic subsidiary which was focused on supporting enterprise adoption and use of cloud services. Itconic’s operating results have been reported in the EMEA region following the date of acquisition. The nature of the intangible assets acquired from the Itconic acquisition is customer relationships with an estimated useful life of 15 years . The fair value of customer relationships was estimated by applying an income approach. The Company applied discount rate of 16.0% , which reflects the risk and uncertainty of the estimated future operating cash flows. Other significant assumptions include projected revenue growth, customer attrition rates and operating margins. The fair value measurements were based on significant inputs that are not observable in the market and thus represent Level 3 measurements as defined in the accounting standard for fair value measurements. Goodwill is attributable to the workforce of the acquired business and the projected revenue increase from future customers expected to arise after the acquisition. On October 6, 2017, the Company acquired Zenium's data center business in Istanbul for a cash payment of approximately $92.0 million . The acquired facility located in Istanbul, Turkey has been renamed as the Istanbul 2 ("IL2") data center. IL2’s operating results have been reported in the EMEA region following the date of acquisition. The nature of the intangible assets acquired from this acquisition is customer relationships with an estimated useful life of 15 years . As of June 30, 2018 , the Company has not completed the detailed valuation analysis of Itconic or the Zenium data center to derive the fair value of the following items including, but not limited to: property, plant and equipment, intangible assets and deferred taxes; therefore, the allocation of the purchase price to assets acquired and liabilities assumed is based on provisional estimates and is subject to continuing management analysis. As of June 30, 2018 , the Company has updated the preliminary allocation of purchase price for Itconic and Zenium data center from the provisional amounts reported as of December 31, 2017. The adjustments made during the six months ended June 30, 2018 primarily resulted in an increase in property, plant and equipment of $5.2 million and a corresponding decrease in other assets of $5.2 million for Zenium data center acquisition, while the adjustments made for Itconic were not significant. The changes in fair value of acquired assets and liabilities assumed did not have a significant impact on the Company’s results of operations for the three and six months ended June 30, 2018 . On February 3, 2017, the Company acquired IO UK's data center operating business in Slough, United Kingdom, for a cash payment of £29.1 million or approximately $36.3 million at the exchange rate in effect on February 3, 2017 ("IO Acquisition"). The acquired facility was renamed London 10 ("LD10") data center. LD10's operating results have been reported in the EMEA region following the date of acquisition. As of December 31, 2017, the Company finalized the allocation of purchase price for the acquisition. Goodwill from the acquisitions of Itconic, the Zenium data center and IO UK's data center is not deductible for local tax purposes and is attributable to the Company's EMEA region. For the three and six months ended June 30, 2017 , the incremental revenues and net loss recorded from the IO Acquisition were not significant to the Company's results of operations. For the three and six months ended June 30, 2018 , the Company's results of operations include $22.4 million and $42.1 million of revenues respectively, from the combined operations of Itconic, the Zenium data center and IO UK's data center and an insignificant net income from operations. Unaudited Pro Forma Combined Financial Information The following unaudited pro forma combined financial information has been prepared by the Company using the acquisition method of accounting to give effect to the Verizon Data Center Acquisition as though it occurred on January 1, 2017. The incremental results of operations from the other acquisitions are not significant and are therefore not reflected in the pro forma combined results of operations. The Company completed the Verizon Data Center Acquisition on May 1, 2017. The unaudited pro forma combined financial information for the three and six months ended June 30, 2017 combine the actual results of the Company and the actual Verizon Data Center Acquisition operating results for the period prior to the acquisition date and reflect certain adjustments, such as additional depreciation, amortization and interest expense on assets and liabilities acquired and acquisition financings. The Company and Verizon entered into agreements at the closing of the Verizon Data Center Acquisition pursuant to which the Company will provide space and services to Verizon at the acquired data centers. These arrangements are not reflected in the unaudited pro forma combined financial information. The unaudited pro forma combined financial information is presented for illustrative purposes only and is not necessarily indicative of the results of operations that would have actually been reported had the acquisition occurred on the above dates, nor is it necessarily indicative of the future results of operations of the combined company. The following table sets forth the unaudited pro forma combined results of operations for the three and six months ended June 30, 2017 (in thousands, except per share amounts): Three Months Ended June 30, 2017 Six months ended June 30, 2017 Revenues $ 1,101,848 $ 2,157,653 Net income from operations 74,831 124,160 Basic EPS 0.96 1.60 Diluted EPS 0.95 1.58

Derivatives and Hedging Activit

Derivatives and Hedging Activities	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities Derivatives Designated as Hedging Instruments Net Investment Hedges. The Company is exposed to the impact of foreign exchange rate fluctuations on its investments in foreign subsidiaries whose functional currencies are other than the U.S. dollar. In order to mitigate the impact of foreign currency exchange rates, the Company has entered into various foreign currency loans which are designated as hedges against the Company's net investment in foreign subsidiaries. As of June 30, 2018 and December 31, 2017 , the total principal amount of foreign currency loans, which were designated as net investment hedges, were $3,864.4 million and $3,149.5 million , respectively. The Company also uses foreign exchange forward contracts from time to time to hedge against the effect of foreign exchange rate fluctuations on a portion of its net investment in the foreign subsidiaries. For a net investment hedge, changes in the fair value of the hedging instrument designated as a net investment hedge, except the ineffective portion and forward points, are recorded as a component of accumulated other comprehensive income (loss) in the condensed consolidated balance sheet. The Company recorded pre-tax net foreign exchange gains of $226.1 million and $151.8 million in other comprehensive income (loss) for the three and six months ended June 30, 2018 , respectively, and pre-tax net foreign exchange losses of $101.8 million and $130.4 million in other comprehensive income (loss) for the three and six months ended June 30, 2017 , respectively. The Company recorded no ineffectiveness from its net investment hedges for the three and six months ended June 30, 2018 and 2017 . Cash Flow Hedges. The Company hedges its foreign currency translation exposure for forecasted revenues and expenses in its EMEA region between the U.S. dollar and the British Pound, Euro, Swedish Krona and Swiss Franc. The foreign currency forward and option contracts that the Company uses from time to time to hedge this exposure are designated as cash flow hedges under the accounting standard for derivatives and hedging. The Company enters into intercompany hedging instruments ("intercompany derivatives") with a wholly-owned subsidiary of the Company in order to hedge certain forecasted revenues and expenses denominated in currencies other than the U.S. dollar. Simultaneously, the Company enters into derivative contracts with unrelated third parties to externally hedge the net exposure created by such intercompany derivatives. The following disclosure is prepared on a consolidated basis. Assets and liabilities resulting from intercompany derivatives have been eliminated in consolidation. As of June 30, 2018 , the Company's cash flow hedge instruments had maturity dates ranging from July 2018 to March 2020 as follows (in thousands): Notional Amount Fair Value (1) Accumulated Other Comprehensive Income (Loss) (2) (3) Derivative assets $ 521,072 $ 25,445 $ 21,611 Derivative liabilities 213,800 (8,505 ) (12,277 ) Total $ 734,872 $ 16,940 $ 9,334 (1) All derivatives 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 $0.4 million within accumulated other comprehensive income (loss) relating to cash flow hedges that will be reclassified to revenues and expenses as they mature in the next 12 months. As of December 31, 2017 , the Company's cash flow hedge instruments had maturity dates ranging from January 2018 to October 2019 as follows (in thousands): Notional Amount Fair Value (1) Accumulated Other Comprehensive Income (Loss) (2) (3) Derivative assets $ 72,262 $ 2,379 $ 2,055 Derivative liabilities 440,637 (29,777 ) (34,311 ) Total $ 512,899 $ (27,398 ) $ (32,256 ) (1) All derivatives 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 loss of $26.7 million within accumulated other comprehensive income (loss) relating to cash flow hedges that will be reclassified to revenues and expenses as they mature over the next 12 months. During the three months ended June 30, 2018 , the amount of net gains from the ineffective and excluded portions of cash flow hedges recognized in other income (expense) was $2.7 million . During the three months ended June 30, 2017 , the ineffective and excluded portions of cash flow hedges recognized in other income (expense) were not significant. During the three months ended June 30, 2018 , the amount of net losses reclassified from accumulated other comprehensive income (loss) to revenues was $12.9 million and the amount of net gains reclassified from accumulated other comprehensive income (loss) to operating expenses was $6.8 million . During the three months ended June 30, 2017 , the amount of net gains reclassified from accumulated other comprehensive income (loss) to revenues was $10.5 million and the amount of net losses reclassified from accumulated other comprehensive income (loss) to operating expenses was $5.6 million . During the six months ended June 30, 2018 , the amount of net gains from the ineffective and excluded portions of cash flow hedges recognized in other income (expense) was $2.7 million . During the six months ended June 30, 2017 , the ineffective and excluded portions of cash flow hedges recognized in other income (expense) were not significant. During the six months ended June 30, 2018 , the amount of net losses reclassified from accumulated other comprehensive income (loss) to revenues was $31.3 million and the amount of net gains reclassified from accumulated other comprehensive income (loss) to operating expenses was $16.1 million . During the six months ended June 30, 2017 , the amount of net gains reclassified from accumulated other comprehensive income (loss) to revenues was $28.2 million and the amount of net losses reclassified from accumulated other comprehensive income (loss) to operating expenses was $14.6 million . Derivatives Not Designated as Hedging 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. Gains and losses on these embedded derivatives are included within revenues in the Company’s condensed consolidated statements of operations. During the three months ended June 30, 2018 , the gain associated with these embedded derivatives was $3.9 million . During the six months ended June 30, 2018 , the gains (losses) associated with these embedded derivatives were not significant. During the three months ended June 30, 2017 , the gains (losses) associated with these embedded derivatives were not significant. During the six months ended June 30, 2017 , the loss associated with these embedded derivatives was $6.8 million . Economic Hedges of Embedded Derivatives. The Company uses foreign currency forward contracts to help manage the foreign exchange risk associated with the Company’s customer agreements that are priced in currencies different from the functional or local currencies of the parties involved ("economic hedges of embedded derivatives"). Foreign currency forward contracts represent agreements to exchange the currency of one country for the currency of another country at an agreed-upon price on an agreed-upon settlement date. Gains and losses on these contracts are included in revenues along with gains and losses of the related embedded derivatives. The Company entered into various economic hedges of embedded derivatives during the three and six months ended June 30, 2018 and 2017 . During the three and six months ended June 30, 2018 and 2017 , the gains (losses) associated with these contracts were not significant. Foreign Currency Forward and Option Contracts. The Company also uses foreign currency forward and option contracts to manage the foreign exchange risk associated with certain foreign currency-denominated monetary assets and liabilities. As a result of foreign currency fluctuations, the U.S. dollar equivalent values of its foreign currency-denominated monetary assets and liabilities change. Gains and losses on these contracts are included in other income (expense), on a net basis, along with the foreign currency gains and losses of the related foreign currency-denominated monetary assets and liabilities associated with these foreign currency forward contracts. The Company entered into various foreign currency forward and option contracts during the three and six months ended June 30, 2018 and 2017 . During the three and six months ended June 30, 2018 , the Company recognized net gains of $49.8 million and $47.4 million , respectively, associated with these contracts. During the three and six months ended June 30, 2017 , the Company recognized net losses of $22.5 million and $37.2 million , respectively, associated with these 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 June 30, 2018 (in thousands): Gross Amounts Gross Amounts Offset in the Consolidated Balance Sheet Net Consolidated Balance Sheet Amounts (1) Gross Amounts not Offset in the Consolidated Balance Sheet (2) Net Assets: Designated as hedging instruments: Foreign currency forward contracts designated as cash flow hedges $ 25,445 $ — $ 25,445 $ (8,099 ) $ 17,346 Not designated as hedging instruments: Embedded derivatives 5,233 — 5,233 — 5,233 Economic hedges of embedded derivatives 43 — 43 (43 ) — Foreign currency forward contracts 14,416 — 14,416 (2,266 ) 12,150 19,692 — 19,692 (2,309 ) 17,383 Additional netting benefit — — — (1,432 ) (1,432 ) $ 45,137 $ — $ 45,137 $ (11,840 ) $ 33,297 Liabilities: Designated as hedging instruments: Foreign currency forward contracts designated as cash flow hedges $ 8,505 $ — $ 8,505 $ (8,099 ) $ 406 Not designated as hedging instruments: Embedded derivatives 2,173 — 2,173 — 2,173 Economic hedges of embedded derivatives 1,160 — 1,160 (43 ) 1,117 Foreign currency forward contracts 3,220 — 3,220 (2,266 ) 954 6,553 — 6,553 (2,309 ) 4,244 Additional netting benefit — — — (1,432 ) (1,432 ) $ 15,058 $ — $ 15,058 $ (11,840 ) $ 3,218 (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. For presentation on the condensed consolidated balance sheets, the Company does not offset fair value amounts recognized for derivative instruments under master netting arrangements. The following table presents the fair value of derivative instruments recognized in the Company's condensed consolidated balance sheets as of December 31, 2017 (in thousands): Gross Amounts Gross Amounts Offset in the Consolidated Balance Sheet Net Consolidated Balance Sheet Amounts (1) Gross Amounts not Offset in the Consolidated Balance Sheet (2) Net Assets: Designated as hedging instruments: Foreign currency forward contracts designated as cash flow hedges $ 2,379 $ — $ 2,379 $ (2,379 ) $ — Not designated as hedging instruments: Embedded derivatives 5,076 — 5,076 — 5,076 Economic hedges of embedded derivatives 325 — 325 — 325 Foreign currency forward contracts 505 — 505 (340 ) 165 5,906 — 5,906 (340 ) 5,566 Additional netting benefit — — — (490 ) (490 ) $ 8,285 $ — $ 8,285 $ (3,209 ) $ 5,076 Liabilities: Designated as hedging instruments: Foreign currency forward contracts designated as cash flow hedges $ 29,777 $ — $ 29,777 $ (2,379 ) $ 27,398 Not designated as hedging instruments: Embedded derivatives 3,503 — 3,503 — 3,503 Economic hedges of embedded derivatives 20 — 20 — 20 Foreign currency forward contracts 7,547 — 7,547 (340 ) 7,207 11,070 — 11,070 (340 ) 10,730 Additional netting benefit — — — (490 ) (490 ) $ 40,847 $ — $ 40,847 $ (3,209 ) $ 37,638 (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. For presentation on the condensed consolidated balance sheets, the Company does not offset fair value amounts recognized for derivative instruments under master netting arrangements.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value estimates are made as of a specific point in time based on methods using the market approach valuation method which uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities or other valuation techniques. These techniques involve uncertainties and are affected by the assumptions used and the judgments made regarding risk characteristics of various financial instruments, discount rates, estimates of future cash flows, future expected loss experience and other factors. Cash, Cash Equivalents and Investments. The fair value of the Company's investments in money market funds approximates their face value. Such instruments are included in cash equivalents. The Company’s money market funds and publicly traded equity securities are classified within Level 1 of the fair value hierarchy because they are valued using quoted prices for identical instruments in active markets. The fair value of the Company's other investments, including certificates of deposit, approximates their face value. The fair value of these investments is priced based on the quoted market price for similar instruments or nonbinding market prices that are corroborated by observable market data. Such instruments are classified within Level 2 of the fair value hierarchy. The Company determines the fair values of its Level 2 investments by using inputs such as actual trade data, benchmark yields, broker/dealer quotes, and other similar data, which are obtained from quoted market prices, custody bank, third-party pricing vendors, or other sources. The Company uses such pricing data as the primary input to make its assessments and determinations as to the ultimate valuation of its investment portfolio and has not made, during the periods presented, any material adjustments to such inputs. The Company is responsible for its condensed consolidated financial statements and underlying estimates. The Company uses the specific identification method in computing realized gains and losses. Realized gains and losses on the investments are included within other income (expense) in the Company’s condensed consolidated statements of operations. The Company's investments in publicly traded equity securities are carried at fair value. Subsequent to the adoption of ASU 2016-01 in the three months ended March 31, 2018, unrealized gains and losses on publicly traded equity securities are reported within other income (expense) in the Company’s condensed consolidated statements of operations. Prior to the adoption of ASU 2016-01, unrealized gains and losses on publicly traded equity securities were reported in stockholders’ equity as a component of other comprehensive income or loss. Upon adoption of ASU 2016-01, the Company recorded a net cumulative effect increase of $2.1 million to retained earnings. Derivative Assets and Liabilities . For derivatives, the Company uses forward contract and option models employing market observable inputs, such as spot currency rates and forward points with adjustments made to these values utilizing published credit default swap rates of its foreign exchange trading counterparties and other comparable companies. The Company has determined that the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, therefore the derivatives are categorized as Level 2. The Company did not have any nonfinancial assets or liabilities measured at fair value on a recurring basis as of June 30, 2018 and December 31, 2017 . The Company's financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2018 were as follows (in thousands): Fair Value at Fair Value Measurement Using Level 1 Level 2 Assets: Cash $ 640,218 $ 640,218 $ — Money market and deposit accounts 326,090 326,090 — Publicly traded equity securities 4,200 4,200 — Certificates of deposit 18,199 — 18,199 Derivative instruments (1) 45,137 — 45,137 Total $ 1,033,844 $ 970,508 $ 63,336 Liabilities: Derivative instruments (1) $ 15,058 $ — $ 15,058 Total $ 15,058 $ — $ 15,058 (1) Includes both foreign currency embedded derivatives and foreign currency forward contracts. Amounts are included within other current assets, other assets, others current liabilities and other liabilities in the Company’s accompanying condensed consolidated balance sheet. The Company's financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 were as follows (in thousands): Fair Value at Fair Value Measurement Using Level 1 Level 2 Assets: Cash $ 985,382 $ 985,382 $ — Money market and deposit accounts 427,135 427,135 — Publicly traded equity securities 6,163 6,163 — Certificates of deposit 31,351 — 31,351 Derivative instruments (1) 8,285 — 8,285 Total $ 1,458,316 $ 1,418,680 $ 39,636 Liabilities: Derivative instruments (1) $ 40,847 $ — $ 40,847 Total $ 40,847 $ — $ 40,847 (1) Includes both foreign currency 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 Level 3 financial assets or financial liabilities as of June 30, 2018 and December 31, 2017 .

Leases

Leases	6 Months Ended
	Jun. 30, 2018
Leases [Abstract]
Leases	Leases Capital Lease and Other Financing Obligations Stockholm 2 ("SK2") Data Center In March 2018, the Company acquired the land and building for the SK2 IBX data center for cash consideration of SEK457.9 million or approximately $54.9 million at the exchange rate in effect on March 31, 2018. The Company had previously accounted for SK2 as a build-to-suit arrangement. As a result of the purchase, the prior arrangement was effectively terminated and the financing obligation was settled in full. The Company settled the financing obligation of the SK2 data center for SEK234.5 million or approximately $28.1 million and recognized a loss on debt extinguishment of SEK170.5 million or approximately $20.4 million at the exchange rate in effect on March 31, 2018. Tokyo 11 ("TY11") Data Center In February 2018, the Company entered into a lease agreement for the TY 11 IBX data center. Pursuant to the accounting standard for leases, the Company assessed the lease classification of the TY11 lease and determined that the lease should be accounted for as a capital lease. During the three months ended March 31, 2018, the Company recorded a capital lease obligation totaling approximately $ ¥2,348.5 million , or approximately $22.1 million at the exchange rate in effect on March 31, 2018. The lease has a term of 30 years through February 2048. 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 Obligations Other Financing Obligations (1) Total 2018 (6 months remaining) $ 54,909 $ 44,230 $ 99,139 2019 96,780 70,775 167,555 2020 96,862 70,413 167,275 2021 94,966 71,462 166,428 2022 94,676 71,629 166,305 Thereafter 852,403 710,668 1,563,071 Total minimum lease payments 1,290,596 1,039,177 2,329,773 Plus amount representing residual property value — 457,943 457,943 Less amount representing interest (535,289 ) (740,796 ) (1,276,085 ) Present value of net minimum lease payments 755,307 756,324 1,511,631 Less current portion (42,888 ) (42,375 ) (85,263 ) Total $ 712,419 $ 713,949 $ 1,426,368 (1) Other financing obligations are primarily related to build-to-suit arrangements. Operating Leases Minimum future operating lease payments as of June 30, 2018 are summarized as follows (in thousands): Years ending: 2018 (6 months remaining) $ 91,781 2019 179,437 2020 169,326 2021 158,203 2022 153,659 Thereafter 1,244,509 Total $ 1,996,915

Debt Facilities

Debt Facilities	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt Facilities	Debt Facilities Mortgage and Loans Payable As of June 30, 2018 and December 31, 2017 , the Company's mortgage and loans payable consisted of the following (in thousands): June 30, December 31, 2017 Term loans $ 1,354,570 $ 1,417,352 Mortgage payable and loans payable 45,859 48,872 1,400,429 1,466,224 Less amount representing unamortized debt discount and debt issuance cost (9,221 ) (10,666 ) Add amount representing unamortized mortgage premium 1,956 2,051 1,393,164 1,457,609 Less current portion (75,224 ) (64,491 ) Total $ 1,317,940 $ 1,393,118 Senior Notes As of June 30, 2018 and December 31, 2017 , the Company's senior notes consisted of the following (in thousands): June 30, 2018 December 31, 2017 Amount Effective Rate Amount Effective Rate 5.000% Infomart Senior Notes $ 750,000 4.40 % $ — — % 5.375% Senior Notes due 2022 750,000 5.56 % 750,000 5.56 % 5.375% Senior Notes due 2023 1,000,000 5.51 % 1,000,000 5.51 % 2.875% Euro Senior Notes due 2024 875,550 3.08 % — — % 5.75% Senior Notes due 2025 500,000 5.88 % 500,000 5.88 % 2.875% Euro Senior Notes due 2025 1,167,400 3.04 % 1,201,000 3.04 % 5.875% Senior Notes due 2026 1,100,000 6.03 % 1,100,000 6.03 % 2.875% Euro Senior Notes due 2026 1,167,400 3.04 % 1,201,000 3.04 % 5.375% Senior Notes due 2027 1,250,000 5.51 % 1,250,000 5.51 % 8,560,350 7,002,000 Less amount representing unamortized debt issuance cost (82,297 ) (78,151 ) Add amount representing unamortized debt premium 7,158 — 8,485,211 6,923,849 Less current portion (150,828 ) — Total $ 8,334,383 $ 6,923,849 Infomart Senior Notes On April 2, 2018, in connection with the closing of the Infomart Dallas Acquisition, the Company issued $750.0 million aggregate principal amount of 5.000% senior unsecured notes in five new series due in each of April 2019, October 2019, April 2020, October 2020 and April 2021, with each series consisting of $150.0 million principal amount, which are collectively referred to as the "Infomart Senior Notes". The Infomart Senior Notes were fair valued as of the acquisition date and the Company recognized debt premium of $8.2 million . Interest on the notes is payable semi-annually on April 2 and October 2 of each year, commencing on October 2, 2018. The Infomart Senior Notes are not redeemable prior to their maturity dates. As of June 30, 2018 , debt premium, net of amortization, related to the Infomart Senior Notes was $7.2 million . 2024 Euro Senior Notes On March 14, 2018, the Company issued €750.0 million , or approximately $929.9 million in U.S. dollars, at the exchange rate in effect on March 14, 2018, aggregate principal amount of 2.875% senior notes due March 15, 2024, which are referred to as the "2024 Euro Senior Notes". Interest on the notes is payable semi-annually in arrears on March 15 and September 15 of each year, commencing on September 15, 2018. Debt issuance costs related to the 2024 Euro Senior Notes were $11.6 million . As of June 30, 2018 , debt issuance costs related to the 2024 Euro Senior Notes, net of amortization, were $10.4 million at the exchange rate in effect on that date. All senior notes are unsecured and rank equal in right of payment to the Company’s existing or future senior indebtedness and senior in right of payment to the Company’s existing and future subordinated indebtedness. The senior notes are effectively subordinated to all of the existing and future secured debt, including debt outstanding under any bank facility or secured by any mortgage, to the extent of the assets securing such debt. They are also structurally subordinated to any existing and future indebtedness and other liabilities (including trade payables) of any of the Company’s subsidiaries. Each series of senior notes is governed by a supplemental indenture between the Company and U.S. Bank National Association, as trustee. The supplemental indenture contains covenants that limit the Company’s ability and the ability of its subsidiaries to, among other things: • incur liens; • enter into sale-leaseback transactions; and • merge or consolidate with any other person. The Company is not required to make any mandatory redemption with respect to the senior notes; however, upon the event of a change in control, the Company may be required to offer to purchase the senior notes. Optional Redemption Schedule Senior Note Description Early Equity Redemption Price First Scheduled Redemption Date First Scheduled Redemption Price Second Year Redemption Price Third Year Redemption Price 2.875% Euro due 2024 102.875% September 15, 2020 101.438% 100.719% 100.000% The 2024 Euro Senior Notes provide for optional redemption. Within 90 days of the closing of one or more equity offerings and at any time prior to the first scheduled redemption date listed in the Optional Redemption Schedule, the Company may redeem up to 35% of the aggregate principal amount of the notes outstanding, at a redemption price listed in the Optional Redemption Schedule, plus accrued and unpaid interest to the redemption date, provided that at least 65% of the aggregate principal amount of the notes issued under the supplemental indenture remains outstanding immediately after such redemption(s). On or after the first scheduled redemption date listed in the Optional Redemption Schedule, the Company may redeem all or a part of the notes, on one or more occasions, at the redemption prices (expressed as percentages of principal amount) set forth in the Optional Redemption Schedule, plus accrued and unpaid interest thereon, if any, if redeemed during the twelve month period beginning on the first scheduled redemption date and at reduced scheduled redemption prices during the twelve or eighteen-month periods beginning on the anniversaries of the first scheduled redemption date. In addition, at any time prior to the first scheduled redemption date, the Company may redeem all or a part of the senior notes at a redemption price equal to 100% of the principal amount of senior notes redeemed plus the applicable premium (the "Applicable Premium") and accrued and unpaid interest, subject to the rights of the holders of record of the senior notes on the relevant record date to receive interest due on the relevant interest payment date. The Applicable Premium means the greater of: (1) 1.0% of the principal amount of the 2024 Euro Senior Notes; (2) the excess of: (a) the present value at such redemption date of (i) the redemption price of the 2024 Euro Senior Notes at the first scheduled redemption date, plus (ii) all required interest payments due on the 2024 Euro Senior Notes through the first scheduled redemption date computed using a discount rate equal to the treasury rate as of such redemption date plus 50 basis points ; over (b) the principal amount of the 2024 Euro Senior Notes. Maturities of Debt Instruments The following table sets forth maturities of the Company's debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs, debt discounts and debt premiums, as of June 30, 2018 (in thousands): Years ending: 2018 (6 months remaining) $ 37,797 2019 375,349 2020 375,281 2021 540,715 2022 1,569,311 Thereafter 7,064,282 Total $ 9,962,735 Fair Value of Debt Instruments The following table sets forth the estimated fair values of the Company's mortgage and loans payable and senior notes, including current maturities, as of (in thousands): June 30, December 31, 2017 Mortgage and loans payable $ 1,400,259 $ 1,464,877 Senior notes 8,485,647 7,288,673 The fair value of the mortgage and loans payable, which were not publicly traded, was estimated by considering the Company's credit rating, current rates available to the Company for debt of the same remaining maturities and terms of the debt (Level 2). The fair value of the senior notes, which were traded in the public debt market, was based on quoted market prices (Level 1). 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 Six Months Ended 2018 2017 2018 2017 Interest expense $ 134,673 $ 119,042 $ 260,950 $ 230,726 Interest capitalized 3,484 7,999 6,798 14,399 Interest charges incurred $ 138,157 $ 127,041 $ 267,748 $ 245,125 Total interest paid, net of capitalized interest, during the three months ended June 30, 2018 and 2017 was $111.6 million and $90.0 million , respectively. Total interest paid, net of capitalized interest, during the six months ended June 30, 2018 and 2017 was $215.3 million and $199.0 million , respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments As a result of the Company's various IBX data center expansion projects, as of June 30, 2018 , the Company was contractually committed for approximately $0.8 billion of unaccrued capital expenditures, primarily for IBX infrastructure 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. The Company also had numerous other, non-capital purchase commitments in place as of June 30, 2018 , such as commitments to purchase power in select locations through the remainder of 2018 and thereafter, and other open purchase orders for goods or services to be delivered or provided during the remainder of 2018 and thereafter. Such other miscellaneous purchase commitments totaled approximately $0.8 billion as of June 30, 2018 . In addition, the Company entered into lease agreements in various locations for a total lease commitment of approximately $196.6 million , excluding potential lease renewals. These lease agreements will commence between April 2019 and May 2019 with lease terms of 10 to 25 years. Contingent Liabilities The Company estimates exposure on certain liabilities, such as indirect and property taxes, based on the best information available at the time of determination. With respect to real and personal property taxes, the Company records what it can reasonably estimate based on prior payment history, assessed value by the assessor's office, current landlord estimates or estimates based on current or changing fixed asset values in each specific municipality, as applicable. However, there are circumstances beyond the Company’s control whereby the underlying value of the property or basis for which the tax is calculated on the property may change, such as a landlord selling the underlying property of one of the Company’s IBX data center leases or a municipality changing the assessment value in a jurisdiction and, as a result, the Company’s property tax obligations may vary from period to period. Based upon the most current facts and circumstances, the Company makes the necessary property tax accruals for each of its reporting periods. However, revisions in the Company’s estimates of the potential or actual liability could materially impact the financial position, results of operations or cash flows of the Company. The Company's indirect and property tax filings in various jurisdictions are subject to examination by local tax authorities. The outcome of any examinations cannot be predicted with certainty. The Company regularly assesses the likelihood of adverse outcomes resulting from these examinations that would affect the adequacy of its tax accruals for each of the reporting periods. If any issues arising from the tax examinations are resolved in a manner inconsistent with the Company’s expectations, the revision of the estimates of the potential or actual liabilities could materially impact the financial position, results of operations, or cash flows of the Company.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss, net of tax, by components are as follows (in thousands): Balance as of Net Change Cumulative Effect Adjustment Balance as of Foreign currency translation adjustment ("CTA") loss $ (576,860 ) $ (275,382 ) $ — $ (852,242 ) Unrealized gain (loss) on cash flow hedges (1) (24,191 ) 31,200 — 7,009 Unrealized gain (loss) on available-for-sale securities (2) 2,124 — (2,124 ) — Net investment hedge CTA gain (loss) (1) (185,303 ) 153,480 — (31,823 ) Net actuarial gain (loss) on defined benefit plans (3) (959 ) 21 — (938 ) Total $ (785,189 ) $ (90,681 ) $ (2,124 ) $ (877,994 ) (1) Refer to Note 5 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income. (2) Upon adoption of ASU 2016-01 during the three months ended March 31, 2018, the Company recorded a net cumulative effect adjustment of $2.1 million from accumulated other comprehensive loss to retained earnings. (3) The Company has a defined benefit pension plan covering all employees in one country where such plan is mandated by law. The Company does not have any defined benefit plans in any other countries. The unamortized gain (loss) on defined benefit plans includes gains or losses resulting from a change in the value of either the projected benefit obligation or the plan assets resulting from a change in an actuarial assumption, net of amortization. Changes in foreign currencies can have a significant impact to the Company’s consolidated balance sheets (as evidenced above in the Company’s foreign currency translation loss), as well as its consolidated results of operations, as amounts in foreign currencies are generally translated into more U.S. dollars when the U.S. dollar weakens or less U.S. dollars when the U.S. dollar strengthens. As of June 30, 2018 , the U.S. dollar was generally stronger relative to certain of the currencies of the foreign countries in which the Company operates as compared to December 31, 2017. This overall strengthening of the U.S. dollar had an overall unfavorable impact on the Company's condensed 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 six months ended June 30, 2018 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 condensed consolidated financial position and results of operations including the amount of revenue that the Company reports in future periods. Common Stock In August 2017, the Company entered into an equity distribution agreement with RBC Capital Market, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, establishing an "at the market" equity offering program, under which the Company may offer and sell from time to time up to an aggregate of $750.0 million of its common stock in "at the market" transactions (the "ATM Program"). For the first half of 2018, the Company sold 19,100 shares under the ATM Program, for approximately $7.6 million , net of payment of commissions to the sales agents. As of June 30, 2018 , the Company had generated net proceeds of $363.3 million under the ATM Program. Dividends On May 2, 2018, the Company declared a quarterly cash dividend of $2.28 per share, with a record date of May 23, 2018 and a payment date of June 20, 2018. During the three months ended June 30, 2018, the Company paid a total of $181.8 million in dividends. In addition, the Company accrued an additional $2.8 million in dividends payable for restricted stock units that have not yet vested. On February 14, 2018, the Company declared a quarterly cash dividend of $2.28 per share, with a record date of February 26, 2018 and a payment date of March 21, 2018. During the three months ended March 31, 2018, the Company paid a total of $187.0 million in dividends. In addition, the Company accrued an additional $2.2 million in dividends payable for restricted stock units that have not yet vested. Stock-Based Compensation In the first half of 2018, the Compensation Committee and/or the Stock Award Committee of the Company's Board of Directors, as the case may be, approved the issuance of an aggregate of 546,375 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 $379.83 and a weighted-average requisite service period of 3.56 years. The valuation of restricted stock units with only a service condition or a service and performance condition require 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. The Company used revenues 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 the first half of 2018. 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. The Company used total shareholder return (“TSR”) as the performance measurement in the restricted stock units with a service and market condition that were granted in 2018. 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 2018 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 statements of operations (in thousands): Three Months Ended Six Months Ended 2018 2017 2018 2017 Cost of revenues $ 4,607 $ 3,178 $ 8,506 $ 6,089 Sales and marketing 14,108 13,426 25,814 24,398 General and administrative 31,010 29,021 57,941 53,461 Total $ 49,725 $ 45,625 $ 92,261 $ 83,948

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Segment Information	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 revenues 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, acquisition costs and gains on asset sales as presented below (in thousands): Three Months Ended Six Months Ended 2018 2017 2018 2017 Adjusted EBITDA: Americas $ 293,955 $ 258,151 $ 585,504 $ 456,770 EMEA 170,815 141,622 336,993 271,176 Asia-Pacific 139,234 109,535 261,022 208,936 Total adjusted EBITDA 604,004 509,308 1,183,519 936,882 Depreciation, amortization and accretion expense (308,828 ) (252,386 ) (615,293 ) (471,399 ) Stock-based compensation expense (49,725 ) (45,625 ) (92,261 ) (83,948 ) Acquisition costs (30,413 ) (26,402 ) (35,052 ) (29,427 ) Income from operations $ 215,038 $ 184,895 $ 440,913 $ 352,108 The Company also provides the following additional segment disclosures (in thousands): Three Months Ended Six Months Ended 2018 2017 2018 2017 Revenues: Americas $ 618,275 $ 533,608 $ 1,220,902 $ 970,055 EMEA 383,168 322,944 762,798 637,791 Asia-Pacific 260,500 209,869 494,120 408,100 Total $ 1,261,943 $ 1,066,421 $ 2,477,820 $ 2,015,946 Depreciation and amortization: Americas $ 159,922 $ 124,342 $ 317,500 $ 212,269 EMEA 88,492 78,962 181,772 155,130 Asia-Pacific 58,917 51,482 115,627 104,393 Total $ 307,331 $ 254,786 $ 614,899 $ 471,792 Capital expenditures: Americas $ 200,277 $ 160,679 $ 347,606 $ 314,114 EMEA 222,377 151,485 376,768 235,069 Asia-Pacific 97,585 36,408 145,594 76,631 Total $ 520,239 $ 348,572 $ 869,968 $ 625,814 The Company's long-lived assets are located in the following geographic areas as of (in thousands): June 30, December 31, Americas $ 4,882,241 $ 4,425,077 EMEA 3,447,595 3,265,088 Asia-Pacific 2,049,079 1,704,437 Total long-lived assets $ 10,378,915 $ 9,394,602 The following tables present revenue information disaggregated by service lines and geographic areas (in thousands): Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 Americas EMEA Asia-Pacific Total Americas EMEA Asia-Pacific Total Colocation (1) $ 433,895 $ 293,518 $ 186,172 $ 913,585 $ 861,020 $ 581,579 $ 352,370 $ 1,794,969 Interconnection 131,720 33,969 31,924 197,613 260,973 68,946 62,693 392,612 Managed infrastructure 18,292 29,731 21,184 69,207 36,827 60,417 43,364 140,608 Other (1) 4,980 2,364 — 7,344 6,059 4,130 — 10,189 Recurring revenues 588,887 359,582 239,280 1,187,749 1,164,879 715,072 458,427 2,338,378 Non-recurring revenues 29,388 23,586 21,220 74,194 56,023 47,726 35,693 139,442 Total $ 618,275 $ 383,168 $ 260,500 $ 1,261,943 $ 1,220,902 $ 762,798 $ 494,120 $ 2,477,820 (1) Includes some leasing and hedging activities that are insignificant to the Company's total operations. Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Americas EMEA Asia-Pacific Total Americas EMEA Asia-Pacific Total Colocation (1) $ 374,764 $ 259,684 $ 147,783 $ 782,231 $ 674,037 $ 512,938 $ 286,778 $ 1,473,753 Interconnection 116,248 23,655 25,781 165,684 217,098 46,006 50,640 313,744 Managed infrastructure 17,005 19,205 21,983 58,193 32,066 36,877 43,859 112,802 Other (1) 1,903 2,037 — 3,940 2,822 5,367 — 8,189 Recurring revenues 509,920 304,581 195,547 1,010,048 926,023 601,188 381,277 1,908,488 Non-recurring revenues 23,688 18,363 14,322 56,373 44,032 36,603 26,823 107,458 Total $ 533,608 $ 322,944 $ 209,869 $ 1,066,421 $ 970,055 $ 637,791 $ 408,100 $ 2,015,946 (1) Includes some leasing and hedging activities that are insignificant to the Company's total operations. No single customer accounted for 10% or greater of the Company's accounts receivable or revenues for the three and six months ended June 30, 2018 and 2017 .

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 26, 2018, the Company entered into an amendment to its existing credit agreement, dated as of December 12, 2017. The amendment provided a senior unsecured term loan in an aggregate principal of ¥47.5 billion or approximately $424.9 million , at the exchange rate effective on July 31, 2018. In connection with execution of this agreement, the Company drew down the full amount of the principal and also prepaid the remaining principal of its existing Japanese yen term loan of ¥43.8 billion or approximately $391.3 million . On August 8, 2018 , the Company declared a quarterly cash dividend of $2.28 per share, which is payable on September 19, 2018 to the Company's common stockholders of record as of the close of business on August 22, 2018 .

Basis of Presentation and Sig20

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
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, 2017 has been derived from audited consolidated financial statements as of that date. The condensed 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 ("U.S. 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 February 26, 2018. 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, including the acquisitions of the Metronode group of companies from April 18, 2018, Infomart Dallas from April 2, 2018, Itconic from October 9, 2017, the Zenium data center from October 6, 2017, the Verizon data center business from May 1, 2017, and the IO UK data center operating business from February 3, 2017. All intercompany accounts and transactions have been eliminated in consolidation.
Income Taxes	Income Taxes The Company elected to be taxed as a real estate investment trust for federal income tax purposes ("REIT") beginning with its 2015 taxable year. As a result, the Company may deduct the distributions made to its stockholders from taxable income generated by the Company and its qualified REIT subsidiaries ("QRSs"). The Company’s dividends paid deduction generally eliminates the U.S. taxable income of the Company and its QRSs, resulting in no U.S. income tax due. However, the Company's 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 QRSs or TRSs. 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 performance of the Company, tax law changes and future business acquisitions. The Company's effective tax rates were 15.0% and 20.5% for the six months ended June 30, 2018 and 2017 , respectively. The decrease in the effective tax rate for the six months ended June 30, 2018 as compared to the same period in 2017 is primarily due to the reduction of net deferred tax liabilities as a result of a legal entity reorganization in the Company's Americas region during the six months ended June 30, 2018. The Company’s accounting for deferred taxes involves weighing positive and negative evidence relating to the realizability of deferred tax assets in each tax jurisdiction. After considering such evidence as the nature, frequency, severity of current and cumulative financial reporting losses, and sources of future taxable incomes and tax planning strategies, the Company concluded that valuation allowances were still required in certain foreign jurisdictions. Given the strength of the Company’s operations, combined with certain tax strategies, it is reasonably possible that within the next 12 months, positive evidence will be sufficient to release a significant amount of valuation allowance in certain foreign jurisdictions. Release of valuation allowance would result in recognition of certain deferred tax assets and a decrease to income tax expense for the period the release is recorded. The exact timing and amount of the valuation allowance release are subject to change based on the profitability that the foreign jurisdictions are able to sustain. The Company will continue to evaluate the release of valuation allowances on a quarterly basis. Legislation commonly referred to as the Tax Cuts and Jobs Act (“TCJA”), which was signed into law on December 22, 2017, contains many significant changes to the existing U.S. federal income tax laws. Among other things, the TCJA reduces the U.S. corporate income tax rate from 35% to 21% effective January 1, 2018, limits the tax deductibility of interest expense, accelerates expensing of certain business assets and transitions the U.S. international taxation from a worldwide tax system to a territorial tax system by imposing a one-time mandatory repatriation of undistributed foreign earnings. The Company recognized an income tax expense of $6.5 million during the fourth quarter of 2017, which is a provisional amount related to the re-measurement of the net deferred tax assets in the U.S. TRS as a result of the reduced corporate income tax rate. The Company is still analyzing the new tax legislation and assessing the impact as of the end of the current quarter. The Company will conclude whether any adjustments are required to its net deferred tax asset balance in the U.S. when it files its 2017 U.S. federal tax return in the fourth quarter of 2018. Any adjustments to these provisional amounts will be reported as a component of tax expense (benefit) in the reporting period when such adjustments are determined.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Standards Not Yet Adopted In August 2017, Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2017-12 Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. This ASU was issued to improve the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements and to simplify the application of the hedge accounting guidance in current GAAP. This ASU permits hedge accounting for risk components involving nonfinancial risk and interest rate risk, requires an entity to present the earnings effect of the hedging instrument in the same income statement line item in which the hedged item is reported, no longer requires separate measurement and reporting of hedge ineffectiveness, eases the requirement for hedge effectiveness assessment, and requires a tabular disclosure related to the effect on the income statement of fair value and cash flow hedges. This ASU is effective for annual or any interim reporting periods beginning after December 15, 2018 with early adoption permitted. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements, including its accounting policies, processes and systems. In June 2016, FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The ASU requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The ASU requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization's portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted for all organizations for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company expects this ASU to impact its accounting for allowances for doubtful accounts and is currently evaluating the extent of the impact that the adoption of this standard will have on its consolidated financial statements, including its accounting policies, processes and systems. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) ("ASU 2016-02") and issued subsequent amendments to the initial guidance. Under the new guidance, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee's right to use, or control the use of, a specified asset for the lease term. The standard allows entities to adopt with one of two methods: the modified retrospective transition method or the alternative transition method. The Company currently anticipates adopting the standard using the alternative transition method, under which the Company will recognize the cumulative effects of initially applying the standard as an adjustment to the opening balance of retained earnings in the period of adoption. The new guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The Company will adopt the standard on January 1, 2019. The Company plans to elect the practical expedient that it will not reassess whether any expired or existing contracts are or contain leases, the lease classification for any expired or existing leases or initial direct costs for any existing leases. The Company expects to record a significant increase in assets and liabilities on the consolidated balance sheet at adoption due to the recording of right-of-use assets and corresponding lease liabilities for leases that are accounted for as operating leases. The Company is currently evaluating the extent of the impact that the adoption of this standard will have on its consolidated financial statements, including its accounting policies, processes and systems. Accounting Standards Adopted In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers ("ASU 2014-09") and issued subsequent amendments to the initial guidance, collectively referred as "Topic 606." Topic 606 replaces most existing revenue recognition guidance in U.S. GAAP. The core principle of Topic 606 is that an entity should recognize revenue for the transfer of control of the goods or services equal to the amount that it expects to be entitled to receive for those goods or services. Topic 606 requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. On January 1, 2018, the Company adopted Topic 606 using the modified retrospective approach applied to those contracts, which were not completed as of January 1, 2018, and recognized a net increase to the opening retained earnings of $269.8 million , net of tax impacts. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while the comparative information has not been restated and continues to be reported under accounting standards in effect for those periods. In adopting the new guidance, the Company elected to apply the practical expedient which allows the Company, when using the modified retrospective method of adoption, to not retrospectively restate contracts with multiple modifications on a modification by modification basis. Instead, the Company will reflect the aggregate amount of all modifications that occur before the beginning of the earliest period presented using the new standard. In addition, where appropriate, the Company elected to apply the practical expedient to account for the new standard under the portfolio approach as the Company reasonably expects that the effects of applying the guidance under the portfolio approach will not differ materially from applying the guidance to individual contracts. The most significant impacts to the Company from Topic 606 relate to installation revenue and the cost to obtain contracts. Under the new standard, the Company now recognizes installation revenue over the contract period rather than over the estimated installation life as under the prior revenue standard. Under the new standard, the Company is also required to capitalize and amortize certain costs to obtain contracts, rather than expense them immediately as under the previous standard. The cumulative effect of the changes made to the Company's consolidated January 1, 2018 balance sheet from the adoption of Topic 606 was as follows (in thousands): Balance Sheet Balance at December 31, 2017 Adjustments due to adoption of Topic 606 Balance at January 1, 2018 Assets Other current assets $ 232,027 $ 9,002 $ 241,029 Other assets (1) 241,750 179,578 421,328 Liabilities Other current liabilities 159,914 (16,215 ) 143,699 Other liabilities (2) 661,710 (63,051 ) 598,659 Equity Accumulated other comprehensive loss (3) (785,189 ) (1,930 ) (787,119 ) Retained earnings $ 252,689 $ 269,776 $ 522,465 (1) Includes cumulative adjustments related to cost to obtain contracts, non-current contract assets and deferred tax assets. (2) Includes cumulative adjustments related to non-current deferred revenue and deferred tax liabilities. (3) Includes cumulative adjustments related to CTA. The following tables summarize the effects of adopting Topic 606 on the unaudited condensed consolidated financial statement line items (in thousands, except per share data): Balance Sheets June 30, 2018 Adjustments Balances without adoption of Topic 606 Other current assets $ 249,846 $ (9,675 ) $ 240,171 Total current assets 1,850,825 (9,675 ) 1,841,150 Other assets 525,961 (183,843 ) 342,118 Total assets $ 20,070,288 $ (193,518 ) $ 19,876,770 Accounts payable and accrued expenses $ 710,584 $ (1,569 ) $ 709,015 Other current liabilities 142,312 15,588 157,900 Total current liabilities 1,433,620 14,019 1,447,639 Other liabilities 633,450 68,038 701,488 Total liabilities 13,145,761 82,057 13,227,818 Accumulated other comprehensive loss (877,994 ) 5,716 (872,278 ) Retained earnings 655,101 (281,291 ) 373,810 Total stockholders' equity 6,924,527 (275,575 ) 6,648,952 Total liabilities and stockholders' equity $ 20,070,288 $ (193,518 ) $ 19,876,770 Statements of Operations Three Months Ended Adjustments Balance without adoption of Topic 606 Six Months Ended Adjustments Balance without adoption of Topic 606 Revenues $ 1,261,943 $ (2,521 ) $ 1,259,422 $ 2,477,820 $ (6,357 ) $ 2,471,463 Sales and marketing 154,202 4,376 158,578 313,978 7,678 321,656 Total costs and operating expenses 1,046,905 4,376 1,051,281 2,036,907 7,678 2,044,585 Income from operations 215,038 (6,897 ) 208,141 440,913 (14,035 ) 426,878 Income before income taxes 73,974 (6,897 ) 67,077 153,627 (14,035 ) 139,592 Income tax expense (6,356 ) 1,146 (5,210 ) (23,115 ) 2,520 (20,595 ) Net income $ 67,618 $ (5,751 ) $ 61,867 $ 130,512 $ (11,515 ) $ 118,997 Basic EPS $ 0.85 $ (0.07 ) $ 0.78 $ 1.64 $ (0.14 ) $ 1.50 Diluted EPS $ 0.85 $ (0.07 ) $ 0.78 $ 1.64 $ (0.15 ) $ 1.49 Statements of Cash Flow Six Months Ended Adjustments Balance without adoption of Topic 606 Cash flows from operating activities: Net income (loss) $ 130,512 $ (11,515 ) $ 118,997 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Changes in operating assets and liabilities: Income taxes, net (22,866 ) 1,708 (21,158 ) Other assets 3,536 1,509 5,045 Other liabilities 24,288 8,298 32,586 Net cash provided by operating activities $ 839,635 $ — $ 839,635 The Company also adopted the following standards during 2018, none of which had a material impact to the Company's condensed consolidated financial statements or financial statement disclosures: Standards Description Effective Date and Adoption Consideration ASU 2017-09 Compensation–Stock Compensation (Topic 718) This ASU was issued primarily to provide clarity and reduce both diversity in practice and cost and complexity when applying the guidance in Topic 718 to a change to the terms or conditions of a share-based payment award. This ASU affects any entity that changes the terms or conditions of a share-based payment award. This ASU provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. January 1, 2018 ASU 2017-07 Compensation–Retirement Benefits (Topic 715) This ASU was issued primarily to improve the presentation of net periodic pension cost and net periodic post-retirement benefit cost. This ASU requires that an employer reports the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. It also requires the other components of net periodic pension cost and net periodic post-retirement benefit cost to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. Additionally, only the service cost component is eligible for capitalization, when applicable. January 1, 2018 ASU 2017-05 Other Income—Gains and Losses from the Derecognition of Non-Financial Assets (Subtopic 610-20) This ASU is to clarify the scope of the non-financial asset guidance in Subtopic 610-20 and to add guidance for partial sales of non-financial assets. This ASU defines the term in substance non-financial asset and clarifies that non-financial assets within the scope of Subtopic 610-20 may include non-financial assets transferred within a legal entity to a counterparty. The ASU also provides guidance on the accounting for what often are referred to as partial sales of non-financial assets within the scope of Subtopic 610-20 and contributions of non-financial assets to a joint venture or other non-controlled investee. January 1, 2018 ASU 2017-04 Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This ASU is to simplify the subsequent measurement of goodwill. The ASU eliminates step 2 from the goodwill impairment test and the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform step 2 of the goodwill impairment test. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The Company elected to early adopt this ASU on a prospective basis, effective January 1, 2018. ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business This ASU provides new guidance to assist entities with evaluating when a set of transferred assets and activities is a business. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The Company adopted this standard on a prospective basis, effective January 1, 2018. The adoption of this standard may impact the accounting of future transactions. ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory This ASU requires the recognition of the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. January 1, 2018 ASU 2016-01 Financial Instruments- Overall (Subtopic 825-10) This ASU requires all equity investments to be measured at fair value with changes in the fair value recognized through net income other than those accounted for under equity method of accounting or those that result in consolidation of the investees. The ASU also requires that an entity present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The Company adopted this standard using the modified retrospective method, effective January 1, 2018 and recorded a net increase to retained earnings of $2.1 million.
Revenue Recognition	Revenue Recognition Equinix derives more than 90% of its revenues from recurring revenue streams, consisting primarily of (1) colocation, which includes the licensing of cabinet space and power; (2) interconnection offerings, such as cross connects and Equinix Exchange ports; (3) managed infrastructure solutions and (4) other revenues consisting of rental income from tenants or subtenants. The remainder of the Company’s revenues are from non-recurring revenue streams, such as installation revenues, professional services, contract settlements and equipment sales. Revenues are recognized when control of these products and services is transferred to its customers, in an amount that reflects the consideration it expects to be entitled to in exchange for the products and services. Revenues by service lines and geographic areas are included in segment information (see Note 11). Revenues from recurring revenue streams are generally billed monthly and recognized ratably over the term of the contract, generally one to three years for IBX data center colocation customers. Non-recurring installation fees, although generally paid upfront upon installation, are deferred and recognized ratably over the contract term. Professional service fees and equipment sales are recognized in the period when the services were provided. For the contracts with customers that contain multiple performance obligations, the Company accounts for individual performance obligations separately if they are distinct or as a series of distinct obligations if the individual performance obligations meet the series criteria. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. The transaction price is allocated to the separate performance obligation on a relative standalone selling price basis. The standalone selling price is determined based on overall pricing objectives, taking into consideration market conditions, geographic locations and other factors. Other judgments include determining if any variable consideration should be included in the total contract value of the arrangement such as price increases. Revenue is generally recognized on a gross basis in accordance with the accounting standard related to reporting revenue on a gross basis as a principal versus on a net basis as an agent, as the Company is primarily responsible for fulfilling the contract, bears inventory risk and has discretion in establishing the price when selling to the customer. To the extent the Company does not meet the criteria for recognizing revenue on a gross basis, the Company records the revenue on a net basis. Revenue from contract settlements, when a customer wishes to terminate their contract early, is generally treated as a contract modification and recognized ratably over the remaining term of the contract, if any. The Company guarantees certain service levels, such as uptime, as outlined in individual customer contracts. If these service levels are not achieved due to any failure of the physical infrastructure or offerings, or in the event of certain instances of damage to customer infrastructure within the Company’s IBX data centers, the Company would reduce revenue for any credits or cash payments given to the customer. Historically, these credits and cash payments have generally not been significant. As a result of certain customer agreements being priced in currencies different from the functional currencies of the parties involved, under applicable accounting rules, the Company is deemed to have foreign currency forward contracts embedded in these contracts. The Company assessed these embedded contracts and concluded them to be foreign currency embedded derivatives (see Note 5). These instruments are separated from their host contracts and held on the Company’s condensed consolidated balance sheet at their fair value. The majority of these foreign currency embedded derivatives arise in certain of the Company’s subsidiaries where the local currency is the subsidiary’s functional currency and the customer contract is denominated in the U.S. dollar. Changes in their fair values are recognized within revenues in the Company’s condensed consolidated statements of operations. Contract Balances The timing of revenue recognition, billings and cash collections result in accounts receivables, contract assets and deferred revenues. A receivable is recorded at the invoice amount, net of an allowance for doubtful account and is recognized in the period when the Company has transferred products or provided services to its customers and when its right to consideration is unconditional. Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 45 days. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined that the Company's contracts generally do not include a significant financing component. The Company assesses collectability based on a number of factors, including past transaction history with the customer and the credit-worthiness of the customer. The Company generally does not request collateral from its customers although in certain cases the Company obtains a security interest in a customer’s equipment placed in its IBX data centers or obtains a deposit. The Company also maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments for which the Company had expected to collect the revenues. If the financial condition of the Company’s customers were to deteriorate or if they became insolvent, resulting in an impairment of their ability to make payments, greater allowances for doubtful accounts may be required. Management specifically analyzes accounts receivable and current economic news and trends, historical bad debts, customer concentrations, customer credit-worthiness and changes in customer payment terms when evaluating revenue recognition and the adequacy of the Company’s reserves. Any amounts that were previously recognized as revenue and subsequently determined to be uncollectable are charged to bad debt expense included in sales and marketing expense in the condensed consolidated statements of operations. A specific bad debt reserve of up to the full amount of a particular invoice value is provided for certain problematic customer balances. An additional reserve is established for all other accounts based on the age of the invoices and an analysis of historical credits issued. Delinquent account balances are written off after management has determined that the likelihood of collection is not probable. A contract asset exists when the Company has transferred products or provided services to its customers, but customer payment is contingent upon satisfaction of additional performance obligation. Certain contracts include terms related to price arrangements such as price increases and free months. The Company recognizes revenues ratably over the contract term, which could potentially give rise to contract assets during certain periods of the contract term. Contract assets are recorded in other current assets and other assets in the condensed consolidated balance sheet. Deferred revenue (a contract liability) is recognized when the Company has an unconditional right to a payment before it transfers goods or services to customers. Deferred revenue is included in other current liabilities and other liabilities, respectively, in the condensed consolidated balance sheet. The following table summarizes the opening and closing balances of the Company's receivables; contract asset, current; contract asset, non-current; deferred revenue, current; and deferred revenue, non-current (in thousands): Receivables Contract asset, current Contract asset, non-current Deferred revenue, current Deferred revenue, non-current Beginning balances as of January 1, 2018 (1) $ 576,313 $ 9,002 $ 16,186 $ 71,085 $ 53,101 Closing balances as of June 30, 2018 616,472 9,748 16,010 80,464 48,863 Increase/(decrease) $ 40,159 $ 746 $ (176 ) $ 9,379 $ (4,238 ) (1) Includes cumulative adjustments made to these accounts on January 1, 2018 from the adoption of Topic 606. The difference between the opening and closing balances of the Company's contract assets and deferred revenues primarily results from the timing difference between the Company's performance obligation and the customer's payment, as well as business combinations closed during the six months ended June 30, 2018 . The amounts of revenue recognized during the six months ended June 30, 2018 from the opening deferred revenue balance was $55.0 million . For the three and six months ended June 30, 2018 , no impairment loss related to contract balances was recognized in the condensed consolidated statement of operations. Contract Costs Direct and indirect costs solely related to obtaining revenue contracts are capitalized as costs of obtaining a contract, when they are incremental and if they are expected to be recovered. Such costs consist primarily of commission fees and sales bonuses, as well as indirect related payroll costs. Contract costs are amortized over the estimated period of benefit on a straight-line basis. The Company elected to apply the practical expedient which allows the Company to expense contract costs when incurred, if the amortization period is one year or less. The ending balance of net capitalized contract costs as of June 30, 2018 was $176.8 million , which was included in other assets in the condensed consolidated balance sheet. For the three and six months ended June 30, 2018 , $17.8 million and $35.3 million of contract costs were amortized, which were included in sales and marketing expense in the condensed consolidated statement of operations. Remaining performance obligations As of June 30, 2018 , approximately $5.6 billion of total revenues and deferred installation revenues are expected to be recognized in future periods, the majority of which will be recognized over the next 24 months. While initial contract terms vary in length, substantially all contracts thereafter automatically renew in one-year increments. Included in the remaining performance obligations is either 1) remaining performance obligations under the initial contract terms or 2) remaining performance obligations related to contracts in the renewal period once the initial terms have lapsed. The remaining performance obligations also do not include variable consideration related to unsatisfied performance obligations such as the usage of metered power or any contracts that could be terminated without any significant penalties such as the majority of interconnection revenues. The remaining performance obligations include some leasing activities that are insignificant to the Company’s total operations. The Company elected to apply the practical expedient that allows the Company not to disclose the remaining performance obligations for variable consideration that is allocated to entirely unsatisfied performance obligations or to a wholly unsatisfied distinct good or service that forms part of a single obligation.
Derivatives Designated as Hedging Instruments	Derivatives Designated as Hedging Instruments Net Investment Hedges. The Company is exposed to the impact of foreign exchange rate fluctuations on its investments in foreign subsidiaries whose functional currencies are other than the U.S. dollar. In order to mitigate the impact of foreign currency exchange rates, the Company has entered into various foreign currency loans which are designated as hedges against the Company's net investment in foreign subsidiaries. As of June 30, 2018 and December 31, 2017 , the total principal amount of foreign currency loans, which were designated as net investment hedges, were $3,864.4 million and $3,149.5 million , respectively. The Company also uses foreign exchange forward contracts from time to time to hedge against the effect of foreign exchange rate fluctuations on a portion of its net investment in the foreign subsidiaries. For a net investment hedge, changes in the fair value of the hedging instrument designated as a net investment hedge, except the ineffective portion and forward points, are recorded as a component of accumulated other comprehensive income (loss) in the condensed consolidated balance sheet. The Company recorded pre-tax net foreign exchange gains of $226.1 million and $151.8 million in other comprehensive income (loss) for the three and six months ended June 30, 2018 , respectively, and pre-tax net foreign exchange losses of $101.8 million and $130.4 million in other comprehensive income (loss) for the three and six months ended June 30, 2017 , respectively. The Company recorded no ineffectiveness from its net investment hedges for the three and six months ended June 30, 2018 and 2017 . Cash Flow Hedges. The Company hedges its foreign currency translation exposure for forecasted revenues and expenses in its EMEA region between the U.S. dollar and the British Pound, Euro, Swedish Krona and Swiss Franc. The foreign currency forward and option contracts that the Company uses from time to time to hedge this exposure are designated as cash flow hedges under the accounting standard for derivatives and hedging. The Company enters into intercompany hedging instruments ("intercompany derivatives") with a wholly-owned subsidiary of the Company in order to hedge certain forecasted revenues and expenses denominated in currencies other than the U.S. dollar. Simultaneously, the Company enters into derivative contracts with unrelated third parties to externally hedge the net exposure created by such intercompany derivatives.
Derivatives Not Designated as Hedging Instruments	Derivatives Not Designated as Hedging 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. Gains and losses on these embedded derivatives are included within revenues in the Company’s condensed consolidated statements of operations. During the three months ended June 30, 2018 , the gain associated with these embedded derivatives was $3.9 million . During the six months ended June 30, 2018 , the gains (losses) associated with these embedded derivatives were not significant. During the three months ended June 30, 2017 , the gains (losses) associated with these embedded derivatives were not significant. During the six months ended June 30, 2017 , the loss associated with these embedded derivatives was $6.8 million . Economic Hedges of Embedded Derivatives. The Company uses foreign currency forward contracts to help manage the foreign exchange risk associated with the Company’s customer agreements that are priced in currencies different from the functional or local currencies of the parties involved ("economic hedges of embedded derivatives"). Foreign currency forward contracts represent agreements to exchange the currency of one country for the currency of another country at an agreed-upon price on an agreed-upon settlement date. Gains and losses on these contracts are included in revenues along with gains and losses of the related embedded derivatives. The Company entered into various economic hedges of embedded derivatives during the three and six months ended June 30, 2018 and 2017 . During the three and six months ended June 30, 2018 and 2017 , the gains (losses) associated with these contracts were not significant. Foreign Currency Forward and Option Contracts. The Company also uses foreign currency forward and option contracts to manage the foreign exchange risk associated with certain foreign currency-denominated monetary assets and liabilities. As a result of foreign currency fluctuations, the U.S. dollar equivalent values of its foreign currency-denominated monetary assets and liabilities change. Gains and losses on these contracts are included in other income (expense), on a net basis, along with the foreign currency gains and losses of the related foreign currency-denominated monetary assets and liabilities associated with these foreign currency forward contracts. The Company entered into various foreign currency forward and option contracts during the three and six months ended June 30, 2018 and 2017 . During the three and six months ended June 30, 2018 , the Company recognized net gains of $49.8 million and $47.4 million , respectively, associated with these contracts. During the three and six months ended June 30, 2017 , the Company recognized net losses of $22.5 million and $37.2 million , respectively, associated with these contracts.
Cash, Cash Equivalents and Investments	Cash, Cash Equivalents and Investments. The fair value of the Company's investments in money market funds approximates their face value. Such instruments are included in cash equivalents. The Company’s money market funds and publicly traded equity securities are classified within Level 1 of the fair value hierarchy because they are valued using quoted prices for identical instruments in active markets. The fair value of the Company's other investments, including certificates of deposit, approximates their face value. The fair value of these investments is priced based on the quoted market price for similar instruments or nonbinding market prices that are corroborated by observable market data. Such instruments are classified within Level 2 of the fair value hierarchy. The Company determines the fair values of its Level 2 investments by using inputs such as actual trade data, benchmark yields, broker/dealer quotes, and other similar data, which are obtained from quoted market prices, custody bank, third-party pricing vendors, or other sources. The Company uses such pricing data as the primary input to make its assessments and determinations as to the ultimate valuation of its investment portfolio and has not made, during the periods presented, any material adjustments to such inputs. The Company is responsible for its condensed consolidated financial statements and underlying estimates. The Company uses the specific identification method in computing realized gains and losses. Realized gains and losses on the investments are included within other income (expense) in the Company’s condensed consolidated statements of operations. The Company's investments in publicly traded equity securities are carried at fair value. Subsequent to the adoption of ASU 2016-01 in the three months ended March 31, 2018, unrealized gains and losses on publicly traded equity securities are reported within other income (expense) in the Company’s condensed consolidated statements of operations. Prior to the adoption of ASU 2016-01, unrealized gains and losses on publicly traded equity securities were reported in stockholders’ equity as a component of other comprehensive income or loss. Upon adoption of ASU 2016-01, the Company recorded a net cumulative effect increase of $2.1 million to retained earnings.
Derivative Assets and Liabilities	Derivative Assets and Liabilities . For derivatives, the Company uses forward contract and option models employing market observable inputs, such as spot currency rates and forward points with adjustments made to these values utilizing published credit default swap rates of its foreign exchange trading counterparties and other comparable companies. The Company has determined that the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, therefore the derivatives are categorized as Level 2.
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 revenues and adjusted EBITDA performance both on a consolidated basis and based on these three reportable segments.

Basis of Presentation and Sig21

Basis of Presentation and Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Schedule of Cumulative Effect of Adoption of Topic 606	The cumulative effect of the changes made to the Company's consolidated January 1, 2018 balance sheet from the adoption of Topic 606 was as follows (in thousands): Balance Sheet Balance at December 31, 2017 Adjustments due to adoption of Topic 606 Balance at January 1, 2018 Assets Other current assets $ 232,027 $ 9,002 $ 241,029 Other assets (1) 241,750 179,578 421,328 Liabilities Other current liabilities 159,914 (16,215 ) 143,699 Other liabilities (2) 661,710 (63,051 ) 598,659 Equity Accumulated other comprehensive loss (3) (785,189 ) (1,930 ) (787,119 ) Retained earnings $ 252,689 $ 269,776 $ 522,465 (1) Includes cumulative adjustments related to cost to obtain contracts, non-current contract assets and deferred tax assets. (2) Includes cumulative adjustments related to non-current deferred revenue and deferred tax liabilities. (3) Includes cumulative adjustments related to CTA. The following tables summarize the effects of adopting Topic 606 on the unaudited condensed consolidated financial statement line items (in thousands, except per share data): Balance Sheets June 30, 2018 Adjustments Balances without adoption of Topic 606 Other current assets $ 249,846 $ (9,675 ) $ 240,171 Total current assets 1,850,825 (9,675 ) 1,841,150 Other assets 525,961 (183,843 ) 342,118 Total assets $ 20,070,288 $ (193,518 ) $ 19,876,770 Accounts payable and accrued expenses $ 710,584 $ (1,569 ) $ 709,015 Other current liabilities 142,312 15,588 157,900 Total current liabilities 1,433,620 14,019 1,447,639 Other liabilities 633,450 68,038 701,488 Total liabilities 13,145,761 82,057 13,227,818 Accumulated other comprehensive loss (877,994 ) 5,716 (872,278 ) Retained earnings 655,101 (281,291 ) 373,810 Total stockholders' equity 6,924,527 (275,575 ) 6,648,952 Total liabilities and stockholders' equity $ 20,070,288 $ (193,518 ) $ 19,876,770 Statements of Operations Three Months Ended Adjustments Balance without adoption of Topic 606 Six Months Ended Adjustments Balance without adoption of Topic 606 Revenues $ 1,261,943 $ (2,521 ) $ 1,259,422 $ 2,477,820 $ (6,357 ) $ 2,471,463 Sales and marketing 154,202 4,376 158,578 313,978 7,678 321,656 Total costs and operating expenses 1,046,905 4,376 1,051,281 2,036,907 7,678 2,044,585 Income from operations 215,038 (6,897 ) 208,141 440,913 (14,035 ) 426,878 Income before income taxes 73,974 (6,897 ) 67,077 153,627 (14,035 ) 139,592 Income tax expense (6,356 ) 1,146 (5,210 ) (23,115 ) 2,520 (20,595 ) Net income $ 67,618 $ (5,751 ) $ 61,867 $ 130,512 $ (11,515 ) $ 118,997 Basic EPS $ 0.85 $ (0.07 ) $ 0.78 $ 1.64 $ (0.14 ) $ 1.50 Diluted EPS $ 0.85 $ (0.07 ) $ 0.78 $ 1.64 $ (0.15 ) $ 1.49 Statements of Cash Flow Six Months Ended Adjustments Balance without adoption of Topic 606 Cash flows from operating activities: Net income (loss) $ 130,512 $ (11,515 ) $ 118,997 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Changes in operating assets and liabilities: Income taxes, net (22,866 ) 1,708 (21,158 ) Other assets 3,536 1,509 5,045 Other liabilities 24,288 8,298 32,586 Net cash provided by operating activities $ 839,635 $ — $ 839,635

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Contract Balances, Opening and Closing Balances	The following table summarizes the opening and closing balances of the Company's receivables; contract asset, current; contract asset, non-current; deferred revenue, current; and deferred revenue, non-current (in thousands): Receivables Contract asset, current Contract asset, non-current Deferred revenue, current Deferred revenue, non-current Beginning balances as of January 1, 2018 (1) $ 576,313 $ 9,002 $ 16,186 $ 71,085 $ 53,101 Closing balances as of June 30, 2018 616,472 9,748 16,010 80,464 48,863 Increase/(decrease) $ 40,159 $ 746 $ (176 ) $ 9,379 $ (4,238 ) (1) Includes cumulative adjustments made to these accounts on January 1, 2018 from the adoption of Topic 606.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2018
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 Six Months Ended 2018 2017 2018 2017 Net income $ 67,618 $ 45,805 $ 130,512 $ 87,867 Weighted-average shares used to calculate basic EPS 79,479 77,923 79,361 75,383 Effect of dilutive securities: Employee equity awards 273 585 385 625 Weighted-average shares used to calculate diluted EPS 79,752 78,508 79,746 76,008 Basic EPS $ 0.85 $ 0.59 $ 1.64 $ 1.17 Diluted EPS $ 0.85 $ 0.58 $ 1.64 $ 1.16

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
Schedule of Final Purchase Price Allocation	The final purchase price allocation is as follows (in thousands): Certain Verizon Data Center Assets Cash and cash equivalents $ 1,073 Accounts receivable 2,019 Other current assets 7,319 Property, plant, and equipment 840,335 Intangible assets (1) 1,693,900 Goodwill 1,095,262 Total assets acquired 3,639,908 Accounts payable and accrued liabilities (1,725 ) Other current liabilities (2,020 ) Capital lease and other financing obligations (17,659 ) Deferred tax liabilities (18,129 ) Other liabilities (5,689 ) Net assets acquired $ 3,594,686 (1) The nature of the intangible assets acquired is customer relationships with an estimated useful life of 15 years. Included in this amount is a customer relationship intangible asset for Verizon totaling $245.3 million . Pursuant to the acquisition agreement, the Company formalized agreements to provide pre-existing space and services to Verizon at the acquired data centers. A summary of the allocation of total purchase consideration is presented as follows (in thousands): Metronode Infomart Dallas Cash and cash equivalents $ 3,206 $ 17,432 Accounts receivable 8,318 637 Other current assets 9,894 395 Property, plant, and equipment 307,151 362,023 Intangible assets 123,388 61,233 Goodwill 368,550 203,617 Deferred tax assets 4,112 — Other assets (1) 54,338 — Total assets acquired 878,957 645,337 Accounts payable and accrued liabilities (17,104 ) (5,056 ) Other current liabilities (2,038 ) (2,141 ) Other liabilities (1) (55,581 ) (4,723 ) Net assets acquired $ 804,234 $ 633,417 (1) In connection with the Metronode Acquisition, the Company recorded indemnification assets of $54.3 million , which represented the seller's obligation under the purchase agreement to reimburse pre-acquisition tax liabilities settled after the acquisition. A summary of the allocation of total purchase consideration is presented as follows (in thousands): Itconic Zenium Cash and cash equivalents $ 15,659 $ 692 Accounts receivable 16,429 198 Other current assets 1,885 6,430 Property, plant, and equipment 65,356 58,931 Intangible assets 101,755 7,900 Goodwill 126,855 21,834 Other assets 4,025 313 Total assets acquired 331,964 96,298 Accounts payable and accrued liabilities (15,847 ) (1,012 ) Other current liabilities (12,374 ) (451 ) Capital lease and other financing obligations (30,666 ) — Loans payable (3,253 ) — Deferred tax liabilities (3,198 ) (2,227 ) Other liabilities (7,515 ) (614 ) Net assets acquired $ 259,111 $ 91,994
Schedule of Acquired Intangible Assets	The following table presents certain information on the acquired intangible assets (in thousands): Intangible Assets Fair Value Estimated Useful Lives (Years) Weighted-average Estimated Useful Lives (Years) Customer relationships (Metronode) $ 123,388 20.0 20.0 Customer relationships (Infomart Dallas) 31,195 20.0 20.0 In-place leases (Infomart Dallas) 19,959 3.6 - 7.5 6.8 Trade names (Infomart Dallas) 9,614 20.0 20.0 Favorable leases (Infomart Dallas) 465 3.6 - 7.5 7.0
Pro Forma Consolidated Operations	The following table sets forth the unaudited pro forma combined results of operations for the three and six months ended June 30, 2017 (in thousands, except per share amounts): Three Months Ended June 30, 2017 Six months ended June 30, 2017 Revenues $ 1,101,848 $ 2,157,653 Net income from operations 74,831 124,160 Basic EPS 0.96 1.60 Diluted EPS 0.95 1.58

Derivatives and Hedging Activ25

Derivatives and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Cash Flow Hedges	As of June 30, 2018 , the Company's cash flow hedge instruments had maturity dates ranging from July 2018 to March 2020 as follows (in thousands): Notional Amount Fair Value (1) Accumulated Other Comprehensive Income (Loss) (2) (3) Derivative assets $ 521,072 $ 25,445 $ 21,611 Derivative liabilities 213,800 (8,505 ) (12,277 ) Total $ 734,872 $ 16,940 $ 9,334 (1) All derivatives 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 $0.4 million within accumulated other comprehensive income (loss) relating to cash flow hedges that will be reclassified to revenues and expenses as they mature in the next 12 months. As of December 31, 2017 , the Company's cash flow hedge instruments had maturity dates ranging from January 2018 to October 2019 as follows (in thousands): Notional Amount Fair Value (1) Accumulated Other Comprehensive Income (Loss) (2) (3) Derivative assets $ 72,262 $ 2,379 $ 2,055 Derivative liabilities 440,637 (29,777 ) (34,311 ) Total $ 512,899 $ (27,398 ) $ (32,256 ) (1) All derivatives 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 loss of $26.7 million within accumulated other comprehensive income (loss) relating to cash flow hedges that will be reclassified to revenues and expenses as they mature over the next 12 months.
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 June 30, 2018 (in thousands): Gross Amounts Gross Amounts Offset in the Consolidated Balance Sheet Net Consolidated Balance Sheet Amounts (1) Gross Amounts not Offset in the Consolidated Balance Sheet (2) Net Assets: Designated as hedging instruments: Foreign currency forward contracts designated as cash flow hedges $ 25,445 $ — $ 25,445 $ (8,099 ) $ 17,346 Not designated as hedging instruments: Embedded derivatives 5,233 — 5,233 — 5,233 Economic hedges of embedded derivatives 43 — 43 (43 ) — Foreign currency forward contracts 14,416 — 14,416 (2,266 ) 12,150 19,692 — 19,692 (2,309 ) 17,383 Additional netting benefit — — — (1,432 ) (1,432 ) $ 45,137 $ — $ 45,137 $ (11,840 ) $ 33,297 Liabilities: Designated as hedging instruments: Foreign currency forward contracts designated as cash flow hedges $ 8,505 $ — $ 8,505 $ (8,099 ) $ 406 Not designated as hedging instruments: Embedded derivatives 2,173 — 2,173 — 2,173 Economic hedges of embedded derivatives 1,160 — 1,160 (43 ) 1,117 Foreign currency forward contracts 3,220 — 3,220 (2,266 ) 954 6,553 — 6,553 (2,309 ) 4,244 Additional netting benefit — — — (1,432 ) (1,432 ) $ 15,058 $ — $ 15,058 $ (11,840 ) $ 3,218 (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. For presentation on the condensed consolidated balance sheets, the Company does not offset fair value amounts recognized for derivative instruments under master netting arrangements. The following table presents the fair value of derivative instruments recognized in the Company's condensed consolidated balance sheets as of December 31, 2017 (in thousands): Gross Amounts Gross Amounts Offset in the Consolidated Balance Sheet Net Consolidated Balance Sheet Amounts (1) Gross Amounts not Offset in the Consolidated Balance Sheet (2) Net Assets: Designated as hedging instruments: Foreign currency forward contracts designated as cash flow hedges $ 2,379 $ — $ 2,379 $ (2,379 ) $ — Not designated as hedging instruments: Embedded derivatives 5,076 — 5,076 — 5,076 Economic hedges of embedded derivatives 325 — 325 — 325 Foreign currency forward contracts 505 — 505 (340 ) 165 5,906 — 5,906 (340 ) 5,566 Additional netting benefit — — — (490 ) (490 ) $ 8,285 $ — $ 8,285 $ (3,209 ) $ 5,076 Liabilities: Designated as hedging instruments: Foreign currency forward contracts designated as cash flow hedges $ 29,777 $ — $ 29,777 $ (2,379 ) $ 27,398 Not designated as hedging instruments: Embedded derivatives 3,503 — 3,503 — 3,503 Economic hedges of embedded derivatives 20 — 20 — 20 Foreign currency forward contracts 7,547 — 7,547 (340 ) 7,207 11,070 — 11,070 (340 ) 10,730 Additional netting benefit — — — (490 ) (490 ) $ 40,847 $ — $ 40,847 $ (3,209 ) $ 37,638 (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. For presentation on the condensed consolidated balance sheets, the Company does not offset fair value amounts recognized for derivative instruments under master netting arrangements.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2018
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 June 30, 2018 were as follows (in thousands): Fair Value at Fair Value Measurement Using Level 1 Level 2 Assets: Cash $ 640,218 $ 640,218 $ — Money market and deposit accounts 326,090 326,090 — Publicly traded equity securities 4,200 4,200 — Certificates of deposit 18,199 — 18,199 Derivative instruments (1) 45,137 — 45,137 Total $ 1,033,844 $ 970,508 $ 63,336 Liabilities: Derivative instruments (1) $ 15,058 $ — $ 15,058 Total $ 15,058 $ — $ 15,058 (1) Includes both foreign currency embedded derivatives and foreign currency forward contracts. Amounts are included within other current assets, other assets, others current liabilities and other liabilities in the Company’s accompanying condensed consolidated balance sheet. The Company's financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 were as follows (in thousands): Fair Value at Fair Value Measurement Using Level 1 Level 2 Assets: Cash $ 985,382 $ 985,382 $ — Money market and deposit accounts 427,135 427,135 — Publicly traded equity securities 6,163 6,163 — Certificates of deposit 31,351 — 31,351 Derivative instruments (1) 8,285 — 8,285 Total $ 1,458,316 $ 1,418,680 $ 39,636 Liabilities: Derivative instruments (1) $ 40,847 $ — $ 40,847 Total $ 40,847 $ — $ 40,847 (1) Includes both foreign currency 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)	6 Months Ended
	Jun. 30, 2018
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 Obligations Other Financing Obligations (1) Total 2018 (6 months remaining) $ 54,909 $ 44,230 $ 99,139 2019 96,780 70,775 167,555 2020 96,862 70,413 167,275 2021 94,966 71,462 166,428 2022 94,676 71,629 166,305 Thereafter 852,403 710,668 1,563,071 Total minimum lease payments 1,290,596 1,039,177 2,329,773 Plus amount representing residual property value — 457,943 457,943 Less amount representing interest (535,289 ) (740,796 ) (1,276,085 ) Present value of net minimum lease payments 755,307 756,324 1,511,631 Less current portion (42,888 ) (42,375 ) (85,263 ) Total $ 712,419 $ 713,949 $ 1,426,368 (1) Other financing obligations are primarily related to build-to-suit arrangements.
Schedule of Operating Leases	Minimum future operating lease payments as of June 30, 2018 are summarized as follows (in thousands): Years ending: 2018 (6 months remaining) $ 91,781 2019 179,437 2020 169,326 2021 158,203 2022 153,659 Thereafter 1,244,509 Total $ 1,996,915

Debt Facilities (Tables)

Debt Facilities (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Summary of Debt	As of June 30, 2018 and December 31, 2017 , the Company's senior notes consisted of the following (in thousands): June 30, 2018 December 31, 2017 Amount Effective Rate Amount Effective Rate 5.000% Infomart Senior Notes $ 750,000 4.40 % $ — — % 5.375% Senior Notes due 2022 750,000 5.56 % 750,000 5.56 % 5.375% Senior Notes due 2023 1,000,000 5.51 % 1,000,000 5.51 % 2.875% Euro Senior Notes due 2024 875,550 3.08 % — — % 5.75% Senior Notes due 2025 500,000 5.88 % 500,000 5.88 % 2.875% Euro Senior Notes due 2025 1,167,400 3.04 % 1,201,000 3.04 % 5.875% Senior Notes due 2026 1,100,000 6.03 % 1,100,000 6.03 % 2.875% Euro Senior Notes due 2026 1,167,400 3.04 % 1,201,000 3.04 % 5.375% Senior Notes due 2027 1,250,000 5.51 % 1,250,000 5.51 % 8,560,350 7,002,000 Less amount representing unamortized debt issuance cost (82,297 ) (78,151 ) Add amount representing unamortized debt premium 7,158 — 8,485,211 6,923,849 Less current portion (150,828 ) — Total $ 8,334,383 $ 6,923,849 As of June 30, 2018 and December 31, 2017 , the Company's mortgage and loans payable consisted of the following (in thousands): June 30, December 31, 2017 Term loans $ 1,354,570 $ 1,417,352 Mortgage payable and loans payable 45,859 48,872 1,400,429 1,466,224 Less amount representing unamortized debt discount and debt issuance cost (9,221 ) (10,666 ) Add amount representing unamortized mortgage premium 1,956 2,051 1,393,164 1,457,609 Less current portion (75,224 ) (64,491 ) Total $ 1,317,940 $ 1,393,118
Summary of Senior Notes Redemption Price Percentage	Senior Note Description Early Equity Redemption Price First Scheduled Redemption Date First Scheduled Redemption Price Second Year Redemption Price Third Year Redemption Price 2.875% Euro due 2024 102.875% September 15, 2020 101.438% 100.719% 100.000%
Summary of Maturities of Debt Instruments	The following table sets forth maturities of the Company's debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs, debt discounts and debt premiums, as of June 30, 2018 (in thousands): Years ending: 2018 (6 months remaining) $ 37,797 2019 375,349 2020 375,281 2021 540,715 2022 1,569,311 Thereafter 7,064,282 Total $ 9,962,735
Fair Value of Debt Instruments	The following table sets forth the estimated fair values of the Company's mortgage and loans payable and senior notes, including current maturities, as of (in thousands): June 30, December 31, 2017 Mortgage and loans payable $ 1,400,259 $ 1,464,877 Senior notes 8,485,647 7,288,673
Schedule of Interest Charges Incurred	The following table sets forth total interest costs incurred and total interest costs capitalized for the periods presented (in thousands): Three Months Ended Six Months Ended 2018 2017 2018 2017 Interest expense $ 134,673 $ 119,042 $ 260,950 $ 230,726 Interest capitalized 3,484 7,999 6,798 14,399 Interest charges incurred $ 138,157 $ 127,041 $ 267,748 $ 245,125

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Components of Accumulated Other Comprehensive Loss	The changes in accumulated other comprehensive loss, net of tax, by components are as follows (in thousands): Balance as of Net Change Cumulative Effect Adjustment Balance as of Foreign currency translation adjustment ("CTA") loss $ (576,860 ) $ (275,382 ) $ — $ (852,242 ) Unrealized gain (loss) on cash flow hedges (1) (24,191 ) 31,200 — 7,009 Unrealized gain (loss) on available-for-sale securities (2) 2,124 — (2,124 ) — Net investment hedge CTA gain (loss) (1) (185,303 ) 153,480 — (31,823 ) Net actuarial gain (loss) on defined benefit plans (3) (959 ) 21 — (938 ) Total $ (785,189 ) $ (90,681 ) $ (2,124 ) $ (877,994 ) (1) Refer to Note 5 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income. (2) Upon adoption of ASU 2016-01 during the three months ended March 31, 2018, the Company recorded a net cumulative effect adjustment of $2.1 million from accumulated other comprehensive loss to retained earnings. (3) The Company has a defined benefit pension plan covering all employees in one country where such plan is mandated by law. The Company does not have any defined benefit plans in any other countries. The unamortized gain (loss) on defined benefit plans includes gains or losses resulting from a change in the value of either the projected benefit obligation or the plan assets resulting from a change in an actuarial assumption, net of amortization.
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 statements of operations (in thousands): Three Months Ended Six Months Ended 2018 2017 2018 2017 Cost of revenues $ 4,607 $ 3,178 $ 8,506 $ 6,089 Sales and marketing 14,108 13,426 25,814 24,398 General and administrative 31,010 29,021 57,941 53,461 Total $ 49,725 $ 45,625 $ 92,261 $ 83,948

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2018
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, acquisition costs and gains on asset sales as presented below (in thousands): Three Months Ended Six Months Ended 2018 2017 2018 2017 Adjusted EBITDA: Americas $ 293,955 $ 258,151 $ 585,504 $ 456,770 EMEA 170,815 141,622 336,993 271,176 Asia-Pacific 139,234 109,535 261,022 208,936 Total adjusted EBITDA 604,004 509,308 1,183,519 936,882 Depreciation, amortization and accretion expense (308,828 ) (252,386 ) (615,293 ) (471,399 ) Stock-based compensation expense (49,725 ) (45,625 ) (92,261 ) (83,948 ) Acquisition costs (30,413 ) (26,402 ) (35,052 ) (29,427 ) Income from operations $ 215,038 $ 184,895 $ 440,913 $ 352,108
Segment Disclosures	The Company also provides the following additional segment disclosures (in thousands): Three Months Ended Six Months Ended 2018 2017 2018 2017 Revenues: Americas $ 618,275 $ 533,608 $ 1,220,902 $ 970,055 EMEA 383,168 322,944 762,798 637,791 Asia-Pacific 260,500 209,869 494,120 408,100 Total $ 1,261,943 $ 1,066,421 $ 2,477,820 $ 2,015,946 Depreciation and amortization: Americas $ 159,922 $ 124,342 $ 317,500 $ 212,269 EMEA 88,492 78,962 181,772 155,130 Asia-Pacific 58,917 51,482 115,627 104,393 Total $ 307,331 $ 254,786 $ 614,899 $ 471,792 Capital expenditures: Americas $ 200,277 $ 160,679 $ 347,606 $ 314,114 EMEA 222,377 151,485 376,768 235,069 Asia-Pacific 97,585 36,408 145,594 76,631 Total $ 520,239 $ 348,572 $ 869,968 $ 625,814
Segment Long-Lived Assets	The Company's long-lived assets are located in the following geographic areas as of (in thousands): June 30, December 31, Americas $ 4,882,241 $ 4,425,077 EMEA 3,447,595 3,265,088 Asia-Pacific 2,049,079 1,704,437 Total long-lived assets $ 10,378,915 $ 9,394,602
Revenue Information Disaggregated by Service Line and Geographic Areas	The following tables present revenue information disaggregated by service lines and geographic areas (in thousands): Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 Americas EMEA Asia-Pacific Total Americas EMEA Asia-Pacific Total Colocation (1) $ 433,895 $ 293,518 $ 186,172 $ 913,585 $ 861,020 $ 581,579 $ 352,370 $ 1,794,969 Interconnection 131,720 33,969 31,924 197,613 260,973 68,946 62,693 392,612 Managed infrastructure 18,292 29,731 21,184 69,207 36,827 60,417 43,364 140,608 Other (1) 4,980 2,364 — 7,344 6,059 4,130 — 10,189 Recurring revenues 588,887 359,582 239,280 1,187,749 1,164,879 715,072 458,427 2,338,378 Non-recurring revenues 29,388 23,586 21,220 74,194 56,023 47,726 35,693 139,442 Total $ 618,275 $ 383,168 $ 260,500 $ 1,261,943 $ 1,220,902 $ 762,798 $ 494,120 $ 2,477,820 (1) Includes some leasing and hedging activities that are insignificant to the Company's total operations. Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Americas EMEA Asia-Pacific Total Americas EMEA Asia-Pacific Total Colocation (1) $ 374,764 $ 259,684 $ 147,783 $ 782,231 $ 674,037 $ 512,938 $ 286,778 $ 1,473,753 Interconnection 116,248 23,655 25,781 165,684 217,098 46,006 50,640 313,744 Managed infrastructure 17,005 19,205 21,983 58,193 32,066 36,877 43,859 112,802 Other (1) 1,903 2,037 — 3,940 2,822 5,367 — 8,189 Recurring revenues 509,920 304,581 195,547 1,010,048 926,023 601,188 381,277 1,908,488 Non-recurring revenues 23,688 18,363 14,322 56,373 44,032 36,603 26,823 107,458 Total $ 533,608 $ 322,944 $ 209,869 $ 1,066,421 $ 970,055 $ 637,791 $ 408,100 $ 2,015,946 (1) Includes some leasing and hedging activities that are insignificant to the Company's total operations.

Basis of Presentation and Sig31

Basis of Presentation and Significant Accounting Policies (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended		12 Months Ended
	Dec. 31, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2018
Accounting Policies [Abstract]
Effective income tax rate, continuing operations		15.00%	20.50%
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 252,689	$ 655,101			$ 252,689	$ 522,465
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent					35.00%
Tax Cuts and Jobs Act of 2017, incomplete accounting, change in tax rate, deferred tax asset, provisional income tax expense	$ 6,500
ASU 2014-09 [Member] | Difference between revenue guidance in effect before and after Topic 606 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings		$ (281,291)				269,800
ASU 2016-01 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings						$ 2,100
Scenario, Forecast [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				21.00%

Basis of Presentation and Sig32

Basis of Presentation and Significant Accounting Policies - Cumulative Effect of the Changes from Adoption of Topic 606 (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Other current assets	$ 249,846	$ 241,029	$ 232,027
Other assets	525,961	421,328	241,750
Other current liabilities	142,312	143,699	159,914
Other liabilities	633,450	598,659	661,710
Accumulated other comprehensive loss	(877,994)	(787,119)	(785,189)
Retained earnings	655,101	522,465	$ 252,689
ASU 2014-09 [Member] | Difference between revenue guidance in effect before and after Topic 606 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Other current assets	(9,675)	9,002
Other assets	(183,843)	179,578
Other current liabilities	15,588	(16,215)
Other liabilities	68,038	(63,051)
Accumulated other comprehensive loss	5,716	(1,930)
Retained earnings	$ (281,291)	$ 269,800

Basis of Presentation and Sig33

Basis of Presentation and Significant Accounting Policies - Effects of Adopting Topic 606 (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
Balance Sheets
Other current assets	$ 249,846		$ 249,846		$ 241,029	$ 232,027
Total current assets	1,850,825		1,850,825			2,249,128
Other assets	525,961		525,961		421,328	241,750
Total assets	20,070,288		20,070,288			18,691,457
Accounts payable and accrued expenses	710,584		710,584			719,257
Other current liabilities	142,312		142,312		143,699	159,914
Total current liabilities	1,433,620		1,433,620			1,242,734
Other liabilities	633,450		633,450		598,659	661,710
Total liabilities	13,145,761		13,145,761			11,841,667
Accumulated other comprehensive loss	(877,994)		(877,994)		(787,119)	(785,189)
Retained earnings	655,101		655,101		522,465	252,689
Total stockholders' equity	6,924,527		6,924,527			6,849,790
Total liabilities and stockholders' equity	20,070,288		20,070,288			$ 18,691,457
Statements of Operations
Revenues	1,261,943	$ 1,066,421	2,477,820	$ 2,015,946
Sales and marketing	154,202	141,566	313,978	270,493
Total costs and operating expenses	1,046,905	881,526	2,036,907	1,663,838
Income from operations	215,038	184,895	440,913	352,108
Income before income taxes	73,974		153,627
Income tax expense	(6,356)	(9,325)	(23,115)	(22,718)
Net income (loss)	$ 67,618	$ 45,805	$ 130,512	$ 87,867
Basic EPS (in dollars per share)	$ 0.85	$ 0.59	$ 1.64	$ 1.17
Diluted EPS (in dollars per share)	$ 0.85	$ 0.58	$ 1.64	$ 1.16
Statements of Cash Flow
Income taxes, net			$ (22,866)	$ (33,927)
Other assets			3,536	20,285
Other liabilities			24,288	12,189
Net cash provided by operating activities			839,635	$ 553,844
Calculated under revenue guidance in effect before Topic 606 [Member]
Balance Sheets
Other current assets	$ 240,171		240,171
Total current assets	1,841,150		1,841,150
Other assets	342,118		342,118
Total assets	19,876,770		19,876,770
Accounts payable and accrued expenses	709,015		709,015
Other current liabilities	157,900		157,900
Total current liabilities	1,447,639		1,447,639
Other liabilities	701,488		701,488
Total liabilities	13,227,818		13,227,818
Accumulated other comprehensive loss	(872,278)		(872,278)
Retained earnings	373,810		373,810
Total stockholders' equity	6,648,952		6,648,952
Total liabilities and stockholders' equity	19,876,770		19,876,770
Statements of Operations
Revenues	1,259,422		2,471,463
Sales and marketing	158,578		321,656
Total costs and operating expenses	1,051,281		2,044,585
Income from operations	208,141		426,878
Income before income taxes	67,077		139,592
Income tax expense	(5,210)		(20,595)
Net income (loss)	$ 61,867		$ 118,997
Basic EPS (in dollars per share)	$ 0.78		$ 1.50
Diluted EPS (in dollars per share)	$ 0.78		$ 1.49
Statements of Cash Flow
Income taxes, net			$ (21,158)
Other assets			5,045
Other liabilities			32,586
Net cash provided by operating activities			839,635
ASU 2014-09 [Member] | Difference between revenue guidance in effect before and after Topic 606 [Member]
Balance Sheets
Other current assets	$ (9,675)		(9,675)		9,002
Total current assets	(9,675)		(9,675)
Other assets	(183,843)		(183,843)		179,578
Total assets	(193,518)		(193,518)
Accounts payable and accrued expenses	(1,569)		(1,569)
Other current liabilities	15,588		15,588		(16,215)
Total current liabilities	14,019		14,019
Other liabilities	68,038		68,038		(63,051)
Total liabilities	82,057		82,057
Accumulated other comprehensive loss	5,716		5,716		(1,930)
Retained earnings	(281,291)		(281,291)		$ 269,800
Total stockholders' equity	(275,575)		(275,575)
Total liabilities and stockholders' equity	(193,518)		(193,518)
Statements of Operations
Revenues	(2,521)		(6,357)
Sales and marketing	4,376		7,678
Total costs and operating expenses	4,376		7,678
Income from operations	(6,897)		(14,035)
Income before income taxes	(6,897)		(14,035)
Income tax expense	1,146		2,520
Net income (loss)	$ (5,751)		$ (11,515)
Basic EPS (in dollars per share)	$ (0.07)		$ (0.14)
Diluted EPS (in dollars per share)	$ (0.07)		$ (0.15)
Statements of Cash Flow
Income taxes, net			$ 1,708
Other assets			1,509
Other liabilities			8,298
Net cash provided by operating activities			$ 0

Revenue - Opening and Closing B

Revenue - Opening and Closing Balances (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Receivables	$ 616,472	$ 576,313	$ 576,313
Increase (decrease) in receivables	40,159
Contract asset, current	9,748	9,002
Increase (decrease) in contract asset, current	746
Contract asset, non-current	16,010	16,186
Increase (decrease) in contract asset, non-current	(176)
Deferred revenue, current	80,464	71,085
Increase (decrease) in deferred revenue, current	9,379
Deferred revenue, non-current	48,863	$ 53,101
Increase (decrease) in deferred revenue, non-current	$ (4,238)

Revenue (Details)

Revenue (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2018USD ($)
Revenue from Contract with Customer [Abstract]
Recurring revenue, percent		90.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	24 months	24 months
Deferred revenue, revenue recognized		$ 55
Capitalized contract costs, net	$ 176.8	176.8
Capitalized contract cost, amortization	17.8	35.3
Revenue, remaining performance obligation	$ 5,600	$ 5,600
Minimum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Performance Obligation, Description of Payment Terms		P30D
Maximum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Performance Obligation, Description of Payment Terms		P45D
IBX Data Center [Member] | Minimum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year	1 year
IBX Data Center [Member] | Maximum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 years	3 years

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		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share [Abstract]
Net income	$ 67,618	$ 45,805	$ 130,512	$ 87,867
Weighted-average shares used to calculate basic EPS (in shares)	79,479	77,923	79,361	75,383
Effect of dilutive securities:
Employee equity awards (in shares)	273	585	385	625
Weighted-average shares used to calculate diluted EPS (in shares)	79,752	78,508	79,746	76,008
Basic EPS (in dollars per share)	$ 0.85	$ 0.59	$ 1.64	$ 1.17
Diluted EPS (in dollars per share)	$ 0.85	$ 0.58	$ 1.64	$ 1.16

Earnings Per Share - Anti-dilut

Earnings Per Share - Anti-dilutive Potential Shares of Common Stock Excluded from Computation of Earnings Per Share (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share [Abstract]
Anti-dilutive potential shares of common stock excluded from computation of earnings per share (in shares)	220,000	4,000	247,000	52,000

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) $ in Thousands, € in Millions, £ in Millions, $ in Millions

Apr. 18, 2018AUD ($)metro_areadata_center

Apr. 18, 2018USD ($)metro_areadata_center

Apr. 02, 2018USD ($)

Oct. 09, 2017EUR (€)

Oct. 09, 2017USD ($)

Oct. 06, 2017USD ($)

May 01, 2017USD ($)data_center_building

Feb. 03, 2017GBP (£)

Feb. 03, 2017USD ($)

Jun. 30, 2017USD ($)

Jun. 30, 2018USD ($)

Jun. 30, 2017USD ($)

Jun. 30, 2018USD ($)

Jun. 30, 2017USD ($)

Business Acquisition [Line Items]

Financing obligations, settled

$ 69,856

$ 44,460

Revenues

$ 1,261,943

$ 1,066,421

2,477,820

2,015,946

Net income

67,618

45,805

130,512

87,867

Metronode [Member]

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 1,033

$ 804,200

Data center sites | data_center

10

10

Number of data centers, metro areas | metro_area

6

6

Metronode [Member] | Customer relationships [Member]

Business Acquisition [Line Items]

Estimated Useful Lives (Years)

20 years

20 years

Infomart Dallas [Member]

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 47,400

Consideration transferred

805,600

Debt instrument, fair value

$ 758,200

Interest rate (percent)

5.00%

Financing obligations, settled

$ 170,300

Asset Retirement Obligation, settled

1,900

Extinguishment of debt, gain (loss)

$ 19,500

Infomart Dallas [Member] | Customer relationships [Member]

Business Acquisition [Line Items]

Estimated Useful Lives (Years)

20 years

Metronode and Infomart Dallas [Member]

Business Acquisition [Line Items]

Revenues

24,000

Verizon [Member]

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 3,600,000

Data center buildings | data_center_building

29

Acquisition costs

$ 24,500

$ 26,400

Revenues

$ 86,700

133,300

268,100

Net income

$ 27,400

34,300

70,100

Verizon [Member] | Customer relationships [Member]

Business Acquisition [Line Items]

Estimated Useful Lives (Years)

15 years

Itconic [Member]

Business Acquisition [Line Items]

Cash consideration for acquisition

€ 220.5

$ 259,100

Itconic [Member] | Customer relationships [Member]

Business Acquisition [Line Items]

Estimated Useful Lives (Years)

15 years

15 years

Zenium, Instanbul One [Member]

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 92,000

Estimated Useful Lives (Years)

15 years

Business combination, provisional information, initial accounting incomplete, adjustment, property, plant, and equipment

5,200

Business combination, provisional information, initial accounting incomplete, adjustment, other assets

(5,200)

IO [Member]

Business Acquisition [Line Items]

Cash consideration for acquisition

£ 29.1

$ 36,300

Itconic, Zenium and IO [Member]

Business Acquisition [Line Items]

Revenues

$ 22,400

$ 42,100

Measurement input, discount rate [Member] | Metronode [Member] | Customer relationships [Member]

Business Acquisition [Line Items]

Measurement input

0.073

0.073

Measurement input, discount rate [Member] | Infomart Dallas [Member] | Customer relationships [Member]

Business Acquisition [Line Items]

Measurement input

0.080

Measurement input, discount rate [Member] | Itconic [Member] | Customer relationships [Member]

Business Acquisition [Line Items]

Measurement input

0.160

0.160

Measurement input, discount rate [Member] | Minimum [Member] | Verizon [Member] | Customer relationships [Member]

Business Acquisition [Line Items]

Measurement input

0.077

Measurement input, discount rate [Member] | Maximum [Member] | Verizon [Member] | Customer relationships [Member]

Business Acquisition [Line Items]

Measurement input

0.122

Measurement input, royalty rate [Member] | Infomart Dallas [Member] | Customer relationships [Member]

Business Acquisition [Line Items]

Measurement input

0.015

Acquisitions - Preliminary Purc

Acquisitions - Preliminary Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Apr. 18, 2018	Apr. 02, 2018	Oct. 09, 2017	Oct. 06, 2017	May 01, 2017	Jun. 30, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill						$ 4,870,300	$ 4,411,762
Metronode [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	$ 54,300
Cash and cash equivalents	3,206
Accounts receivable	8,318
Other current assets	9,894
Property, plant, and equipment	307,151
Intangible assets	123,388
Goodwill	368,550
Deferred tax assets	4,112
Other assets	54,338
Total assets acquired	878,957
Accounts payable and accrued liabilities	(17,104)
Other current liabilities	(2,038)
Other liabilities	(55,581)
Net assets acquired	$ 804,234
Infomart Dallas [Member]
Business Acquisition [Line Items]
Cash and cash equivalents		$ 17,432
Accounts receivable		637
Other current assets		395
Property, plant, and equipment		362,023
Intangible assets		61,233
Goodwill		203,617
Deferred tax assets		0
Other assets		0
Total assets acquired		645,337
Accounts payable and accrued liabilities		(5,056)
Other current liabilities		(2,141)
Other liabilities		(4,723)
Net assets acquired		$ 633,417
Verizon [Member]
Business Acquisition [Line Items]
Cash and cash equivalents					$ 1,073
Accounts receivable					2,019
Other current assets					7,319
Property, plant, and equipment					840,335
Intangible assets					1,693,900
Goodwill					1,095,262
Total assets acquired					3,639,908
Accounts payable and accrued liabilities					(1,725)
Other current liabilities					(2,020)
Capital lease and other financing obligations					(17,659)
Deferred tax liabilities					(18,129)
Other liabilities					(5,689)
Net assets acquired					3,594,686
Itconic [Member]
Business Acquisition [Line Items]
Cash and cash equivalents			$ 15,659
Accounts receivable			16,429
Other current assets			1,885
Property, plant, and equipment			65,356
Intangible assets			101,755
Goodwill			126,855
Other assets			4,025
Total assets acquired			331,964
Accounts payable and accrued liabilities			(15,847)
Other current liabilities			(12,374)
Capital lease and other financing obligations			(30,666)
Loans payable			(3,253)
Deferred tax liabilities			(3,198)
Other liabilities			(7,515)
Net assets acquired			$ 259,111
Zenium, Instanbul One [Member]
Business Acquisition [Line Items]
Cash and cash equivalents				$ 692
Accounts receivable				198
Other current assets				6,430
Property, plant, and equipment				58,931
Intangible assets				7,900
Goodwill				21,834
Other assets				313
Total assets acquired				96,298
Accounts payable and accrued liabilities				(1,012)
Other current liabilities				(451)
Capital lease and other financing obligations				0
Loans payable				0
Deferred tax liabilities				(2,227)
Other liabilities				(614)
Net assets acquired				$ 91,994
Estimated Useful Lives (Years)				15 years
Customer relationships [Member] | Metronode [Member]
Business Acquisition [Line Items]
Estimated Useful Lives (Years)	20 years
Customer relationships [Member] | Infomart Dallas [Member]
Business Acquisition [Line Items]
Estimated Useful Lives (Years)		20 years
Customer relationships [Member] | Verizon [Member]
Business Acquisition [Line Items]
Intangible assets					$ 245,300
Estimated Useful Lives (Years)					15 years
Customer relationships [Member] | Itconic [Member]
Business Acquisition [Line Items]
Estimated Useful Lives (Years)			15 years

Acquisitions Acquisitions - Int

Acquisitions Acquisitions - Intangible Assets (Details) - USD ($) $ in Thousands	Apr. 18, 2018	Apr. 02, 2018
Customer relationships [Member] | Metronode [Member]
Business Acquisition [Line Items]
Fair Value	$ 123,388
Estimated Useful Lives (Years)	20 years
Weighted-average Estimated Useful Lives (Years)	20 years
Customer relationships [Member] | Infomart Dallas [Member]
Business Acquisition [Line Items]
Fair Value		$ 31,195
Estimated Useful Lives (Years)		20 years
Weighted-average Estimated Useful Lives (Years)		20 years
In-place leases [Member] | Infomart Dallas [Member]
Business Acquisition [Line Items]
Fair Value		$ 19,959
Weighted-average Estimated Useful Lives (Years)		6 years 9 months 18 days
Trade names [Member] | Infomart Dallas [Member]
Business Acquisition [Line Items]
Fair Value		$ 9,614
Estimated Useful Lives (Years)		20 years
Weighted-average Estimated Useful Lives (Years)		20 years
Favorable lease [Member] | Infomart Dallas [Member]
Business Acquisition [Line Items]
Fair Value		$ 465
Weighted-average Estimated Useful Lives (Years)		7 years
Minimum [Member] | In-place leases [Member] | Infomart Dallas [Member]
Business Acquisition [Line Items]
Estimated Useful Lives (Years)		3 years 7 months 6 days
Minimum [Member] | Favorable lease [Member] | Infomart Dallas [Member]
Business Acquisition [Line Items]
Estimated Useful Lives (Years)		3 years 7 months 6 days
Maximum [Member] | In-place leases [Member] | Infomart Dallas [Member]
Business Acquisition [Line Items]
Estimated Useful Lives (Years)		7 years 6 months
Maximum [Member] | Favorable lease [Member] | Infomart Dallas [Member]
Business Acquisition [Line Items]
Estimated Useful Lives (Years)		7 years 6 months

Acquisitions - Unaudited Pro Fo

Acquisitions - Unaudited Pro Forma (Details) - Verizon [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017
Business Acquisition [Line Items]
Revenues	$ 1,101,848	$ 2,157,653
Net income from operations	$ 74,831	$ 124,160
Basic EPS (in dollars per share)	$ 0.96	$ 1.60
Diluted EPS (in dollars per share)	$ 0.95	$ 1.58

Derivatives and Hedging Activ42

Derivatives and Hedging Activities - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Derivative [Line Items]
Foreign currency translation adjustment (CTA) gain (loss)	$ (421,233)	$ 200,983	$ (275,382)	$ 307,921
Gains from ineffective and excluded portions of cash flow hedges	2,700		2,700
Losses reclassified from AOCI into income, effective portion	12,900	5,600	31,300	14,600
Gains reclassified from AOCI into income, effective portion	6,800	10,500	16,100	28,200
Designated as hedging instruments [Member]
Derivative [Line Items]
Total principal amount of foreign currency loans designated as net investment hedges	3,864,400		3,864,400		$ 3,149,500
Foreign currency translation adjustment (CTA) gain (loss)	226,100	(101,800)	151,800	(130,400)
Not designated as hedging instruments [Member] | Embedded derivatives [Member]
Derivative [Line Items]
Net gains (losses) on embedded derivatives	(3,900)			6,800
Not designated as hedging instruments [Member] | Foreign currency forward contracts designated as cash flow hedges
Derivative [Line Items]
Net gain (loss) in foreign currency forward and options contracts	$ 49,800	$ (22,500)	$ 47,400	$ (37,200)

Derivatives and Hedging Activ43

Derivatives and Hedging Activities - Summary of Cash Flow Hedges (Detail) - Cash flow hedges [Member] - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Notional Amount, Derivative assets	$ 521,072	$ 72,262
Notional Amount, Derivative liabilities	213,800	440,637
Notional Amount, Total	734,872	512,899
Fair Value, Derivative assets	25,445	2,379
Fair Value, Derivative liabilities	(8,505)	(29,777)
Fair Value, Total	16,940	(27,398)
Accumulated Other Comprehensive Income (Loss) [Member]
Derivatives, Fair Value [Line Items]
Fair Value, Derivative assets	21,611	2,055
Fair Value, Derivative liabilities	(12,277)	(34,311)
Fair Value, Total	9,334	(32,256)
Net gain (loss) to be reclassified within 12 months	$ 400	$ (26,700)

Derivatives and Hedging Activ44

Derivatives and Hedging Activities - Schedule of Fair Value of Derivative Instruments Recognized in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Derivative [Line Items]
Fair value of derivative assets, Gross amounts	$ 45,137	$ 8,285
Fair value of derivative assets, Gross amounts offset in the balance sheet	0	0
Fair value of derivative assets, Net amounts	45,137	8,285
Fair value of derivative assets, Gross amounts not offset in the balance sheet	(11,840)	(3,209)
Fair value of derivative assets, Net	33,297	5,076
Derivative liabilities	15,058	40,847
Fair value of derivative liabilities, Gross amounts offset in the balance sheet	0	0
Fair value of derivative liabilities, Net amounts	15,058	40,847
Fair value of derivative liabilities, Gross amounts not offset in the balance sheet	(11,840)	(3,209)
Fair value of derivative liabilities, Net	3,218	37,638
Additional netting benefit [Member]
Derivative [Line Items]
Fair value of derivative assets, Gross amounts		0
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	(1,432)	(490)
Fair value of derivative assets, Net	(1,432)	(490)
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	(1,432)	(490)
Fair value of derivative liabilities, Net	(1,432)	(490)
Designated as hedging instruments [Member] | Foreign currency forward contracts designated as cash flow hedges
Derivative [Line Items]
Fair value of derivative assets, Gross amounts	25,445	2,379
Fair value of derivative assets, Gross amounts offset in the balance sheet	0	0
Fair value of derivative assets, Net amounts	25,445	2,379
Fair value of derivative assets, Gross amounts not offset in the balance sheet	(8,099)	(2,379)
Fair value of derivative assets, Net	17,346	0
Derivative liabilities	8,505	29,777
Fair value of derivative liabilities, Gross amounts offset in the balance sheet	0	0
Fair value of derivative liabilities, Net amounts	8,505	29,777
Fair value of derivative liabilities, Gross amounts not offset in the balance sheet	(8,099)	(2,379)
Fair value of derivative liabilities, Net	406	27,398
Not designated as hedging instruments [Member]
Derivative [Line Items]
Fair value of derivative assets, Gross amounts	19,692	5,906
Fair value of derivative assets, Gross amounts offset in the balance sheet	0	0
Fair value of derivative assets, Net amounts	19,692	5,906
Fair value of derivative assets, Gross amounts not offset in the balance sheet	(2,309)	(340)
Fair value of derivative assets, Net	17,383	5,566
Derivative liabilities	6,553	11,070
Fair value of derivative liabilities, Gross amounts offset in the balance sheet	0	0
Fair value of derivative liabilities, Net amounts	6,553	11,070
Fair value of derivative liabilities, Gross amounts not offset in the balance sheet	(2,309)	(340)
Fair value of derivative liabilities, Net	4,244	10,730
Not designated as hedging instruments [Member] | Embedded derivatives [Member]
Derivative [Line Items]
Fair value of derivative assets, Gross amounts	5,233	5,076
Fair value of derivative assets, Gross amounts offset in the balance sheet	0	0
Fair value of derivative assets, Net amounts	5,233	5,076
Fair value of derivative assets, Gross amounts not offset in the balance sheet	0
Fair value of derivative assets, Net	5,233	5,076
Derivative liabilities	2,173	3,503
Fair value of derivative liabilities, Gross amounts offset in the balance sheet	0	0
Fair value of derivative liabilities, Net amounts	2,173	3,503
Fair value of derivative liabilities, Gross amounts not offset in the balance sheet	0	0
Fair value of derivative liabilities, Net	2,173	3,503
Not designated as hedging instruments [Member] | Economic hedges of embedded derivatives [Member]
Derivative [Line Items]
Fair value of derivative assets, Gross amounts	43	325
Fair value of derivative assets, Gross amounts offset in the balance sheet	0	0
Fair value of derivative assets, Net amounts	43	325
Fair value of derivative assets, Gross amounts not offset in the balance sheet	(43)
Fair value of derivative assets, Net	0	325
Derivative liabilities	1,160	20
Fair value of derivative liabilities, Gross amounts offset in the balance sheet	0	0
Fair value of derivative liabilities, Net amounts	1,160	20
Fair value of derivative liabilities, Gross amounts not offset in the balance sheet	(43)
Fair value of derivative liabilities, Net	1,117	20
Not designated as hedging instruments [Member] | Foreign currency forward contracts [Member]
Derivative [Line Items]
Fair value of derivative assets, Gross amounts	14,416	505
Fair value of derivative assets, Gross amounts offset in the balance sheet	0	0
Fair value of derivative assets, Net amounts	14,416	505
Fair value of derivative assets, Gross amounts not offset in the balance sheet	(2,266)	(340)
Fair value of derivative assets, Net	12,150	165
Derivative liabilities	3,220	7,547
Fair value of derivative liabilities, Gross amounts offset in the balance sheet	0	0
Fair value of derivative liabilities, Net amounts	3,220	7,547
Fair value of derivative liabilities, Gross amounts not offset in the balance sheet	(2,266)	(340)
Fair value of derivative liabilities, Net	$ 954	$ 7,207

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Derivative instruments	$ 45,137	$ 8,285
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Fair value of derivative liabilities, Gross amounts	15,058	40,847
Fair value, measurements, recurring [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash	640,218	985,382
Derivative instruments	45,137	8,285
Total financial assets	1,033,844	1,458,316
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Fair value of derivative liabilities, Gross amounts	15,058	40,847
Total financial liabilities	15,058	40,847
Fair value, measurements, recurring [Member] | Money market and deposit accounts [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Financial assets	326,090	427,135
Fair value, measurements, recurring [Member] | Publicly traded equity securities [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Financial assets	4,200	6,163
Fair value, measurements, recurring [Member] | Certificates of deposit [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Financial assets	18,199	31,351
Fair value, measurements, recurring [Member] | Level 1 [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash	640,218	985,382
Derivative instruments	0	0
Total financial assets	970,508	1,418,680
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Fair value of derivative liabilities, Gross amounts	0	0
Total financial liabilities	0	0
Fair value, measurements, recurring [Member] | Level 1 [Member] | Money market and deposit accounts [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Financial assets	326,090	427,135
Fair value, measurements, recurring [Member] | Level 1 [Member] | Publicly traded equity securities [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Financial assets	4,200	6,163
Fair value, measurements, recurring [Member] | Level 1 [Member] | Certificates of deposit [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Financial assets	0	0
Fair value, measurements, recurring [Member] | Level 2 [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash	0	0
Derivative instruments	45,137	8,285
Total financial assets	63,336	39,636
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Fair value of derivative liabilities, Gross amounts	15,058	40,847
Total financial liabilities	15,058	40,847
Fair value, measurements, recurring [Member] | Level 2 [Member] | Money market and deposit accounts [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Financial assets	0	0
Fair value, measurements, recurring [Member] | Level 2 [Member] | Publicly traded equity securities [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Financial assets	0	0
Fair value, measurements, recurring [Member] | Level 2 [Member] | Certificates of deposit [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Financial assets	18,199	$ 31,351
ASU 2016-01 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cumulative effect on retained earnings	$ 2,100

Leases - Additional Information

Leases - Additional Information (Detail) $ in Thousands, ¥ in Millions, kr in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Mar. 31, 2018USD ($)	Mar. 31, 2018SEK (kr)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2018JPY (¥)
Capital Leased Assets [Line Items]
Payments to acquire lease					$ 41,782	$ 48,580
Financing lease, settled amount					69,856	44,460
Loss on debt extinguishment			$ (19,215)	$ (16,444)	$ (40,706)	$ (19,947)
SK2 STOCKHOLM, (METRO), SWEDEN [Member]
Capital Leased Assets [Line Items]
Payments to acquire lease	$ 54,900	kr 457.9
Financing lease, settled amount	28,100	234.5
Loss on debt extinguishment	20,400	kr 170.5
Tokyo 11 (TY11) [Member]
Capital Leased Assets [Line Items]
Capital lease obligation	$ 22,100						¥ 2,348.5
Capital lease obligation, term	30 years						30 years

Leases - Summary of Capital Lea

Leases - Summary of Capital Lease and Other Financing Obligations (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Capital lease obligations
Current portion of capital lease and other financing obligations	$ (85,263)	$ (78,705)
Capital lease and other financing obligations, less current portion	1,426,368	$ 1,620,256
Capital lease obligations [Member]
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2018 (6 months remaining)	54,909
2,019	96,780
2,020	96,862
2,021	94,966
2,022	94,676
Thereafter	852,403
Total minimum lease payments	1,290,596
Plus amount representing residual property value	0
Less amount representing interest	(535,289)
Present value of net minimum lease payments	755,307
Capital lease obligations
Current portion of capital lease and other financing obligations	(42,888)
Capital lease and other financing obligations, less current portion	712,419
Other financing obligations [Member]
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2018 (6 months remaining)	44,230
2,019	70,775
2,020	70,413
2,021	71,462
2,022	71,629
Thereafter	710,668
Total minimum lease payments	1,039,177
Plus amount representing residual property value	457,943
Less amount representing interest	(740,796)
Present value of net minimum lease payments	756,324
Capital lease obligations
Current portion of capital lease and other financing obligations	(42,375)
Capital lease and other financing obligations, less current portion	713,949
Capital Lease and Other Financing Obligations Total [Member]
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2018 (6 months remaining)	99,139
2,019	167,555
2,020	167,275
2,021	166,428
2,022	166,305
Thereafter	1,563,071
Total minimum lease payments	2,329,773
Plus amount representing residual property value	457,943
Less amount representing interest	(1,276,085)
Present value of net minimum lease payments	1,511,631
Capital lease obligations
Current portion of capital lease and other financing obligations	(85,263)
Capital lease and other financing obligations, less current portion	$ 1,426,368

Leases - Operating Leases (Deta

Leases - Operating Leases (Details) $ in Thousands	Jun. 30, 2018USD ($)
Leases [Abstract]
2018 (6 months remaining)	$ 91,781
2,019	179,437
2,020	169,326
2,021	158,203
2,022	153,659
Thereafter	1,244,509
Total	$ 1,996,915

Debt Facilities - Mortgage and

Debt Facilities - Mortgage and Loans Payable (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long term debt, gross	$ 1,400,429	$ 1,466,224
Less the amount representing debt discount and debt issuance cost	(9,221)	(10,666)
Add amount representing unamortized mortgage premium	1,956	2,051
Loans payable current and non current	1,393,164	1,457,609
Less current portion	(75,224)	(64,491)
Loans payable, noncurrent	1,317,940	1,393,118
Term loans [Member]
Debt Instrument [Line Items]
Long term debt, gross	1,354,570	1,417,352
Mortgage payable and other loans payable [Member]
Debt Instrument [Line Items]
Long term debt, gross	$ 45,859	$ 48,872

Debt Facilities - Senior Notes

Debt Facilities - Senior Notes (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Apr. 02, 2018	Mar. 14, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long term debt, gross	$ 1,400,429			$ 1,466,224
Add amount representing unamortized debt premium	1,956			2,051
Total long term debt	9,962,735
Senior Notes [Member]
Debt Instrument [Line Items]
Long term debt, gross	8,560,350			7,002,000
Unamortized debt issuance costs	(82,297)			(78,151)
Add amount representing unamortized debt premium	7,158			0
Debt, unamortized discount (premium) and debt issuance costs, net	8,485,211			6,923,849
Less current portion	(150,828)			0
Total long term debt	$ 8,334,383			6,923,849
Senior Notes [Member] | 5.000% Infomart Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate (percent)	5.00%	5.00%
Long term debt, gross	$ 750,000			$ 0
Effective interest rate	4.40%			0.00%
Add amount representing unamortized debt premium		$ 8,200
Senior Notes [Member] | 5.375% Senior Notes due 2022 [Member]
Debt Instrument [Line Items]
Interest rate (percent)	5.375%
Long term debt, gross	$ 750,000			$ 750,000
Effective interest rate	5.56%			5.56%
Senior Notes [Member] | 5.375% Senior Notes due 2023 [Member]
Debt Instrument [Line Items]
Interest rate (percent)	5.375%
Long term debt, gross	$ 1,000,000			$ 1,000,000
Effective interest rate	5.51%			5.51%
Senior Notes [Member] | 2.875% Euro Senior Notes due 2024 [Member]
Debt Instrument [Line Items]
Interest rate (percent)	2.875%		2.875%
Long term debt, gross	$ 875,550			$ 0
Effective interest rate	3.08%			0.00%
Unamortized debt issuance costs			$ (11,600)
Senior Notes [Member] | 5.750% Senior Notes due 2025 [Member]
Debt Instrument [Line Items]
Interest rate (percent)	5.75%
Long term debt, gross	$ 500,000			$ 500,000
Effective interest rate	5.88%			5.88%
Senior Notes [Member] | 2.875% Euro Senior Notes due 2025 [Member]
Debt Instrument [Line Items]
Interest rate (percent)	2.875%
Long term debt, gross	$ 1,167,400			$ 1,201,000
Effective interest rate	3.04%			3.04%
Senior Notes [Member] | 5.875% Senior Notes due 2026 [Member]
Debt Instrument [Line Items]
Interest rate (percent)	5.875%
Long term debt, gross	$ 1,100,000			$ 1,100,000
Effective interest rate	6.03%			6.03%
Senior Notes [Member] | 2.875% Euro Senior Notes due 2026 [Member]
Debt Instrument [Line Items]
Interest rate (percent)	2.875%
Long term debt, gross	$ 1,167,400			$ 1,201,000
Effective interest rate	3.04%			3.04%
Senior Notes [Member] | 5.375% Senior Notes due 2027 [Member]
Debt Instrument [Line Items]
Interest rate (percent)	5.375%
Long term debt, gross	$ 1,250,000			$ 1,250,000
Effective interest rate	5.51%			5.51%

Debt Facilities - Additional In

Debt Facilities - Additional Information (Details)	Mar. 14, 2018EUR (€)	Jun. 30, 2018USD ($)	Apr. 02, 2018USD ($)	Mar. 14, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Add amount representing unamortized debt premium		$ 1,956,000			$ 2,051,000
Senior Notes [Member]
Debt Instrument [Line Items]
Add amount representing unamortized debt premium		7,158,000			0
Unamortized debt issuance costs		(82,297,000)			$ (78,151,000)
Senior Notes [Member] | 5.000% Infomart Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal debt amount issued			$ 750,000,000
Add amount representing unamortized debt premium			$ 8,200,000
Unamortized discount premium, net		$ 7,200,000
Interest rate (percent)		5.00%	5.00%
Principal debt amount issued, series			$ 150,000,000
Senior Notes [Member] | 2.875% Euro Senior Notes due 2024 [Member]
Debt Instrument [Line Items]
Aggregate principal debt amount issued	€ 750,000,000			$ 929,900,000
Interest rate (percent)	2.875%	2.875%		2.875%
Unamortized debt issuance costs				$ (11,600,000)
Debt issuance cost, net of amortization		$ 10,400,000
Senior Notes [Member] | 2.875% Euro Senior Notes due 2024 [Member] | Debt Instrument Redemption Period Prior to January One Two Thousand Eighteen [Member]
Debt Instrument [Line Items]
Redemption price, percentage	100.00%
Senior Notes [Member] | 2.875% Euro Senior Notes due 2024 [Member] | Debt Instrument Redemption Period Prior to January One Two Thousand Eighteen [Member] | Maximum [Member]
Debt Instrument [Line Items]
Applicable premium as a percentage of principal amount	1.00%			1.00%
Senior Notes [Member] | 2.875% Euro Senior Notes due 2024 [Member] | Treasury Rate [Member] | Debt Instrument Redemption Period Prior to January One Two Thousand Eighteen [Member]
Debt Instrument [Line Items]
Variable rate, basis spread	50.00%
Redemption by Company of up to 35% of aggregate principal | Senior Notes [Member] | 2.875% Euro Senior Notes due 2024 [Member] | Debt Instrument Redemption Period Prior to January One Two Thousand Eighteen [Member]
Debt Instrument [Line Items]
Senior notes indentured outstanding (percent)	35.00%
Aggregate principal, percentage	65.00%

Debt Facilities - Optional Rede

Debt Facilities - Optional Redemption Schedule (Details) - Senior Notes [Member] - 2.875% Euro Senior Notes due 2025 [Member]	6 Months Ended
	Jun. 30, 2018
Early Equity Redemption Price
Debt Instrument [Line Items]
Redemption price, percentage	102.875%
First Scheduled Redemption Price
Debt Instrument [Line Items]
Redemption price, percentage	101.438%
Second Year Redemption Price
Debt Instrument [Line Items]
Redemption price, percentage	100.719%
Third Year Redemption Price
Debt Instrument [Line Items]
Redemption price, percentage	100.00%

Debt Facilities - Summary of Ma

Debt Facilities - Summary of Maturities of Debt Instruments (Detail) $ in Thousands	Jun. 30, 2018USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2018 (6 months remaining)	$ 37,797
2,019	375,349
2,020	375,281
2,021	540,715
2,022	1,569,311
Thereafter	7,064,282
Total long term debt	$ 9,962,735

Debt Facilities - Fair Value of

Debt Facilities - Fair Value of Debt Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Mortgage and loans payable	$ 1,400,259	$ 1,464,877
Senior notes	$ 8,485,647	$ 7,288,673

Debt Facilities - Interest Char

Debt Facilities - Interest Charges (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Debt Disclosure [Abstract]
Interest expense	$ 134,673	$ 119,042	$ 260,950	$ 230,726
Interest capitalized	3,484	7,999	6,798	14,399
Interest charges incurred	138,157	127,041	267,748	245,125
Interest paid, net of capitalized interest	$ 111,600	$ 90,000	$ 215,300	$ 199,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Jun. 30, 2018USD ($)
Capital expenditures [Member]
Other Commitments [Line Items]
Purchase commitments	$ 800
Lease commitment	196.6
Miscellaneous purchase commitments [Member]
Other Commitments [Line Items]
Purchase commitments	$ 800
Minimum [Member] | Capital expenditures [Member]
Other Commitments [Line Items]
Lease, term of contract	10 years
Maximum [Member] | Capital expenditures [Member]
Other Commitments [Line Items]
Lease, term of contract	25 years

Stockholders' Equity - Componen

Stockholders' Equity - Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
December 31, 2017			$ (785,189)
Net Change	$ (159,825)	$ 71,415	(90,681)	$ 137,821
June 30, 2018	(877,994)		(877,994)
Foreign currency translation adjustment (“CTA”) loss [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
December 31, 2017			(576,860)
Net Change			(275,382)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax			0
June 30, 2018	(852,242)		(852,242)
Unrealized loss on cash flow hedges [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
December 31, 2017			(24,191)
Net Change			31,200
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax			0
June 30, 2018	7,009		7,009
Net investment hedge CTA gain (loss) [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
December 31, 2017			(185,303)
Net Change			153,480
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax			0
June 30, 2018	(31,823)		(31,823)
Net actuarial gain (loss) on defined benefit plans [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
December 31, 2017			(959)
Net Change			21
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax			0
June 30, 2018	(938)		(938)
Comprehensive income [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
December 31, 2017			(785,189)
Net Change			(90,681)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax			(2,124)
June 30, 2018	(877,994)		(877,994)
ASU 2016-01 [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Cumulative effect on retained earnings			2,100
ASU 2016-01 [Member] | Unrealized gain (loss) on available-for-sale securities [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
December 31, 2017			2,124
Net Change			0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax			(2,124)
June 30, 2018	$ 0		$ 0

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	May 02, 2018	Feb. 14, 2018	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Aug. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from public offering of common stock, net of issuance costs						$ 7,622,000	$ 2,126,341,000
Cash dividends declared (in dollars per share)	$ 2.28	$ 2.28	$ 2.28		$ 2	$ 4.56	$ 4
Payments of dividends			$ 181,800,000	$ 187,000,000		$ 368,759,000	$ 304,373,000
Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends payable			$ 2,800,000	$ 2,200,000		$ 2,800,000
Restricted stock units, approved (in shares)						546,375
Weighted-average grant date fair value (in dollars per share)						$ 379.83
Service period (in years)						3 years 6 months 21 days
At The Market (ATM) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of stock, equity offering agreement, authorized								$ 750,000,000
Issuance of common stock in public offering of common stock, shares						19,100
Issuance of common stock in public offering of common stock, net						$ 7,600,000
Proceeds from public offering of common stock, net of issuance costs						$ 363,300,000

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		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 49,725	$ 45,625	$ 92,261	$ 83,948
Cost of revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	4,607	3,178	8,506	6,089
Sales and marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	14,108	13,426	25,814	24,398
General and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 31,010	$ 29,021	$ 57,941	$ 53,461

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Segment	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting [Abstract]
Percentage of Accounts Receivables or Revenues	10.00%	10.00%
Number of reportable segments	3

Segment Information - Schedule

Segment Information - Schedule of Adjusted EBITDA (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Total adjusted EBITDA	$ 604,004	$ 509,308	$ 1,183,519	$ 936,882
Depreciation, amortization and accretion expense	(308,828)	(252,386)	(615,293)	(471,399)
Stock-based compensation expense	(49,725)	(45,625)	(92,261)	(83,948)
Acquisition costs	(30,413)	(26,402)	(35,052)	(29,427)
Income from operations	215,038	184,895	440,913	352,108
Americas [Member]
Segment Reporting Information [Line Items]
Total adjusted EBITDA	293,955	258,151	585,504	456,770
EMEA [Member]
Segment Reporting Information [Line Items]
Total adjusted EBITDA	170,815	141,622	336,993	271,176
Asia-Pacific [Member]
Segment Reporting Information [Line Items]
Total adjusted EBITDA	$ 139,234	$ 109,535	$ 261,022	$ 208,936

Segment Information - Segment D

Segment Information - Segment Disclosures (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Total revenues	$ 1,261,943	$ 1,066,421	$ 2,477,820	$ 2,015,946
Total depreciation and amortization	307,331	254,786	614,899	471,792
Capital expenditures	520,239	348,572	869,968	625,814
Americas [Member]
Segment Reporting Information [Line Items]
Total revenues	618,275	533,608	1,220,902	970,055
Total depreciation and amortization	159,922	124,342	317,500	212,269
Capital expenditures	200,277	160,679	347,606	314,114
EMEA [Member]
Segment Reporting Information [Line Items]
Total revenues	383,168	322,944	762,798	637,791
Total depreciation and amortization	88,492	78,962	181,772	155,130
Capital expenditures	222,377	151,485	376,768	235,069
Asia-Pacific [Member]
Segment Reporting Information [Line Items]
Total revenues	260,500	209,869	494,120	408,100
Total depreciation and amortization	58,917	51,482	115,627	104,393
Capital expenditures	$ 97,585	$ 36,408	$ 145,594	$ 76,631

Segment Information - Long-Live

Segment Information - Long-Lived Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	$ 10,378,915	$ 9,394,602
Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	4,882,241	4,425,077
EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	3,447,595	3,265,088
Asia-Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	$ 2,049,079	$ 1,704,437

Segment Information - Revenue I

Segment Information - Revenue Information on Services Basis (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenue from External Customer [Line Items]
Revenue	$ 1,261,943	$ 1,066,421	$ 2,477,820	$ 2,015,946
Recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	1,187,749	1,010,048	2,338,378	1,908,488
Recurring Revenues [Member] | Colocation [Member]
Revenue from External Customer [Line Items]
Revenue	913,585	782,231	1,794,969	1,473,753
Recurring Revenues [Member] | Interconnection [Member]
Revenue from External Customer [Line Items]
Revenue	197,613	165,684	392,612	313,744
Recurring Revenues [Member] | Managed infrastructure services [Member]
Revenue from External Customer [Line Items]
Revenue	69,207	58,193	140,608	112,802
Recurring Revenues [Member] | Other [Member]
Revenue from External Customer [Line Items]
Revenue	7,344	3,940	10,189	8,189
Non-recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	74,194	56,373	139,442	107,458
Americas [Member]
Revenue from External Customer [Line Items]
Revenue	618,275	533,608	1,220,902	970,055
Americas [Member] | Recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	588,887	509,920	1,164,879	926,023
Americas [Member] | Recurring Revenues [Member] | Colocation [Member]
Revenue from External Customer [Line Items]
Revenue	433,895	374,764	861,020	674,037
Americas [Member] | Recurring Revenues [Member] | Interconnection [Member]
Revenue from External Customer [Line Items]
Revenue	131,720	116,248	260,973	217,098
Americas [Member] | Recurring Revenues [Member] | Managed infrastructure services [Member]
Revenue from External Customer [Line Items]
Revenue	18,292	17,005	36,827	32,066
Americas [Member] | Recurring Revenues [Member] | Other [Member]
Revenue from External Customer [Line Items]
Revenue	4,980	1,903	6,059	2,822
Americas [Member] | Non-recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	29,388	23,688	56,023	44,032
EMEA [Member]
Revenue from External Customer [Line Items]
Revenue	383,168	322,944	762,798	637,791
EMEA [Member] | Recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	359,582	304,581	715,072	601,188
EMEA [Member] | Recurring Revenues [Member] | Colocation [Member]
Revenue from External Customer [Line Items]
Revenue	293,518	259,684	581,579	512,938
EMEA [Member] | Recurring Revenues [Member] | Interconnection [Member]
Revenue from External Customer [Line Items]
Revenue	33,969	23,655	68,946	46,006
EMEA [Member] | Recurring Revenues [Member] | Managed infrastructure services [Member]
Revenue from External Customer [Line Items]
Revenue	29,731	19,205	60,417	36,877
EMEA [Member] | Recurring Revenues [Member] | Other [Member]
Revenue from External Customer [Line Items]
Revenue	2,364	2,037	4,130	5,367
EMEA [Member] | Non-recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	23,586	18,363	47,726	36,603
Asia-Pacific [Member]
Revenue from External Customer [Line Items]
Revenue	260,500	209,869	494,120	408,100
Asia-Pacific [Member] | Recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	239,280	195,547	458,427	381,277
Asia-Pacific [Member] | Recurring Revenues [Member] | Colocation [Member]
Revenue from External Customer [Line Items]
Revenue	186,172	147,783	352,370	286,778
Asia-Pacific [Member] | Recurring Revenues [Member] | Interconnection [Member]
Revenue from External Customer [Line Items]
Revenue	31,924	25,781	62,693	50,640
Asia-Pacific [Member] | Recurring Revenues [Member] | Managed infrastructure services [Member]
Revenue from External Customer [Line Items]
Revenue	21,184	21,983	43,364	43,859
Asia-Pacific [Member] | Recurring Revenues [Member] | Other [Member]
Revenue from External Customer [Line Items]
Revenue	0	0	0	0
Asia-Pacific [Member] | Non-recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	$ 21,220	$ 14,322	$ 35,693	$ 26,823

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) $ / shares in Units, $ in Millions, ¥ in Billions	Aug. 08, 2018$ / shares	Jul. 31, 2018USD ($)	Jul. 31, 2018JPY (¥)	May 02, 2018$ / shares	Feb. 14, 2018$ / shares	Jun. 30, 2018$ / shares	Jun. 30, 2017$ / shares	Jun. 30, 2018$ / shares	Jun. 30, 2017$ / shares	Jul. 31, 2018JPY (¥)
Subsequent Event [Line Items]
Cash dividends declared (in dollars per share)				$ 2.28	$ 2.28	$ 2.28	$ 2	$ 4.56	$ 4
Subsequent event [Member]
Subsequent Event [Line Items]
Cash dividends declared (in dollars per share)	$ 2.28
Subsequent event [Member] | Unsecured Debt [Member] | Line of Credit [Member]
Subsequent Event [Line Items]
Borrowing capacity		$ 424.9								¥ 47.5
Repayments of Debt		$ 391.3	¥ 43.8