Equinix (EQIX) 10-Q 2 Aug 19 2019 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2019	Aug. 01, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	000-31293
Entity Registrant Name	EQUINIX, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0487526
Entity Address, Address Line One	One Lagoon Drive
Entity Address, City or Town	Redwood City
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94065
City Area Code	650
Local Phone Number	598-6000
Title of 12(b) Security	Common Stock, $0.001
Trading Symbol	EQIX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		84,819,213
Entity Central Index Key	0001101239
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 1,613,529,000	$ 606,166,000
Short-term investments	17,219,000	4,540,000
Accounts receivable, net of allowance for doubtful accounts of $16,275 and $15,950	752,680,000	630,119,000
Other current assets	251,451,000	274,857,000
Assets held for sale	353,622,000	0
Total current assets	2,988,501,000	1,515,682,000
Property, plant and equipment, net	10,992,740,000	11,026,020,000
Operating lease right-of-use assets	1,468,378,000	0
Goodwill	4,768,880,000	4,836,388,000
Intangible assets, net	2,204,405,000	2,333,296,000
Other assets	463,601,000	533,252,000
Total assets	22,886,505,000	20,244,638,000
Current liabilities:
Accounts payable and accrued expenses	768,670,000	756,692,000
Accrued property, plant and equipment	344,693,000	179,412,000
Current portion of operating lease liabilities	140,733,000	0
Current portion of finance lease liabilities	61,094,000	0
Current portion of finance lease liabilities		77,844,000
Current portion of mortgage and loans payable	72,795,000	73,129,000
Current portion of senior notes	300,929,000	300,999,000
Other current liabilities	142,461,000	126,995,000
Liabilities held for sale	53,030,000	0
Total current liabilities	1,884,405,000	1,515,071,000
Operating lease liabilities, less current portion	1,324,527,000	0
Finance lease liabilities, less current portion	1,140,676,000	0
Finance lease liabilities, less current portion		1,441,077,000
Mortgage and loans payable, less current portion	1,267,551,000	1,310,663,000
Senior notes, less current portion	7,959,467,000	8,128,785,000
Other liabilities	560,650,000	629,763,000
Total liabilities	14,137,276,000	13,025,359,000
Commitments and contingencies (Note 10)
Equinix stockholders' equity
Common stock, $0.001 par value per share: 300,000,000 shares authorized; 85,213,952 issued and 84,819,158 outstanding in 2019 and 81,119,117 issued and 80,722,258 outstanding in 2018	85,000	81,000
Additional paid-in capital	12,450,614,000	10,751,313,000
Treasury stock, at cost; 394,794 shares in 2019 and 396,859 shares in 2018	(144,725,000)	(145,161,000)
Accumulated dividends	(3,743,869,000)	(3,331,200,000)
Accumulated other comprehensive loss	(958,443,000)	(945,702,000)
Retained earnings	1,145,580,000	889,948,000
Total Equinix stockholders' equity	8,749,242,000	7,219,279,000
Non-controlling interests	(13,000)	0
Total stockholders' equity	8,749,229,000	7,219,279,000
Total liabilities and stockholders' equity	$ 22,886,505,000	$ 20,244,638,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 16,275	$ 15,950
Common stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	85,213,952	81,119,117
Common stock, shares outstanding (in shares)	84,819,158	80,722,258
Treasury stock, at cost (shares)	394,794	396,859

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenues	$ 1,384,977	$ 1,261,943	$ 2,748,195	$ 2,477,820
Costs and operating expenses:
Cost of revenues	698,179	651,801	1,380,209	1,274,231
Sales and marketing	159,201	154,202	328,916	313,978
General and administrative	232,656	210,489	447,702	413,646
Acquisition costs	2,774	30,413	5,245	35,052
Impairment charges	386	0	14,834	0
Total costs and operating expenses	1,093,196	1,046,905	2,176,906	2,036,907
Income from operations	291,781	215,038	571,289	440,913
Interest income	7,762	3,958	11,964	8,568
Interest expense	(120,547)	(134,673)	(243,393)	(260,950)
Other income	12,180	8,866	12,014	5,802
Loss on debt extinguishment	0	(19,215)	(382)	(40,706)
Income before income taxes	191,176	73,974	351,492	153,627
Income tax expense	(47,324)	(6,356)	(89,893)	(23,115)
Net income	143,852	67,618	261,599	130,512
Net (income) loss attributable to non-controlling interests	(325)	0	6	0
Net income attributable to Equinix	$ 143,527	$ 67,618	$ 261,605	$ 130,512
Earnings per share (EPS) attributable to Equinix:
Basic EPS (in dollars per share)	$ 1.70	$ 0.85	$ 3.15	$ 1.64
Weighted-average shares for basic EPS (in shares)	84,399	79,479	83,114	79,361
Diluted EPS (in dollars per share)	$ 1.69	$ 0.85	$ 3.13	$ 1.64
Weighted-average shares for diluted EPS (in shares)	84,767	79,752	83,471	79,746

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 143,852	$ 67,618	$ 261,599	$ 130,512
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment (CTA) gain (loss), net of tax effects of $(585), $5,985, $(595) and $5,985	25,127	(421,233)	(56,592)	(275,382)
Net investment hedge CTA gain (loss), net of tax effect of $0, $0, $10 and $1,637	(37,857)	226,115	38,993	153,480
Unrealized gain (loss) on cash flow hedges, net of tax effects of $650, $(11,758), $(2,091) and $(10,398)	(3,355)		4,869
Unrealized gain (loss) on cash flow hedges, net of tax effects of $650, $(11,758), $(2,091) and $(10,398)		35,280		31,200
Net actuarial gain (loss) on defined benefit plans, net of tax effects of $2, $(4), $1 and $(10)	(7)	13	(18)	21
Total other comprehensive loss, net of tax	(16,092)	(159,825)	(12,748)	(90,681)
Comprehensive income (loss), net of tax	127,760	(92,207)	248,851	39,831
Net (income) loss attributable to non-controlling interests	(325)	0	6	0
Other comprehensive loss attributable to non-controlling interests	14	0	7	0
Comprehensive income (loss) attributable to Equinix	$ 127,449	$ (92,207)	$ 248,864	$ 39,831

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment (CTA) gain (loss), tax	$ (585)	$ 5,985	$ (595)	$ 5,985
Net investment hedge CTA gain (loss), tax	0	0	10	1,637
Unrealized gain (loss) on cash flow hedges, tax	650		(2,091)
Unrealized gain (loss) on cash flow hedges, tax		(11,758)		(10,398)
Net actuarial gain on defined benefit plans, tax	$ 2	$ (4)	$ 1	$ (10)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 261,599	$ 130,512
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	533,650	513,248
Stock-based compensation	110,542	92,261
Amortization of intangible assets	98,752	101,651
Amortization of debt issuance costs and debt discounts and premiums	6,233	7,461
Provision for allowance for doubtful accounts	7,097	3,606
Impairment charges	14,834	0
Loss on debt extinguishment	382	40,706
Other items	8,725	7,998
Changes in operating assets and liabilities:
Accounts receivable	(126,720)	(38,441)
Income taxes, net	30,662	(22,866)
Other assets	(5,724)	3,536
Operating lease right-of-use assets	78,483
Operating lease liabilities	(73,805)
Accounts payable and accrued expenses	(3,987)	(24,325)
Other liabilities	23,341	24,288
Net cash provided by operating activities	964,064	839,635
Cash flows from investing activities:
Purchases of investments	(20,787)	(54,421)
Sales of investments	8,945	67,164
Business acquisitions, net of cash and restricted cash acquired	(34,143)	(830,993)
Purchases of real estate	(47,436)	(41,782)
Purchases of other property, plant and equipment	(808,138)	(869,968)
Net cash used in investing activities	(901,559)	(1,730,000)
Cash flows from financing activities:
Proceeds from employee equity awards	27,593	25,860
Payment of dividends and special distribution	(413,052)	(368,759)
Proceeds from public offering of common stock, net of issuance costs	1,561,555	7,622
Proceeds from senior notes	0	929,850
Repayments of finance lease liabilities	(43,112)
Repayments of finance lease liabilities		(69,856)
Repayments of mortgage and loans payable	(36,212)	(25,415)
Repayment of senior notes	(150,000)	0
Debt extinguishment costs	0	(20,556)
Debt issuance costs	0	(11,583)
Other financing activities	0	580
Net cash provided by financing activities	946,772	467,743
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash	411	(25,840)
Net increase (decrease) in cash, cash equivalents and restricted cash	1,009,688	(448,462)
Cash, cash equivalents and restricted cash at beginning of period	627,604	1,450,701
Cash, cash equivalents and restricted cash at end of period	1,637,292	1,002,239
Cash and cash equivalents	1,613,529	966,308
Current portion of restricted cash included in other current assets	13,673	25,277
Non-current portion of restricted cash included in other assets	$ 10,090	$ 10,654

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
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, 2018 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 22, 2019. 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 Switch Datacenters' AMS1 data center business in Amsterdam, Netherlands from April 18, 2019, Metronode from April 18, 2018 and Infomart Dallas from April 2, 2018. All intercompany accounts and transactions have been eliminated in consolidation. Derivatives and Hedging Activities The Company uses derivative instruments, including foreign currency forwards and options and cross-currency interest rate swaps, to manage certain foreign currency exposures. Derivative instruments are viewed as risk management tools by the Company and are not used for speculative purposes. The Company recognizes all derivatives on the Company's condensed consolidated balance sheets at fair value. The accounting for changes in the value of a derivative depends on whether the contract qualifies and has been designated for hedge accounting. In order to qualify for hedge accounting, a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged and there must be documentation of the risk management objective and strategy, including identification of the hedging instrument, the hedged item and the risk exposure, and the effectiveness assessment methodology. For cash flow hedges, the Company uses regression analysis at the time they are designated to assess their effectiveness. Hedge designations are reviewed on a quarterly basis to assess whether circumstances have changed that would disrupt the hedge instrument’s relationship to the forecasted transactions or net investment. The Company uses the forward method to assess effectiveness of qualifying foreign currency forwards that are designated as cash flow hedges, whereby, the change in the fair value of the derivative is recorded in other comprehensive income (loss) and reclassified to the same line item in the condensed consolidated statement of operations that is used to present the earnings effect of the hedged item when the hedged item affects earnings. The Company uses the spot method to assess effectiveness of qualifying foreign currency exchange options that are designated as cash flow hedges, whereby, the change in fair value due to foreign currency exchange spot rates is recorded in other comprehensive income (loss) and reclassified to the same line item in the condensed consolidated statement of operations that is used to present the earnings effect of the hedged item when the hedged item affects earnings, and the change in fair value of the excluded component is recorded in other comprehensive income (loss) and amortized on a straight-line basis to the same line item in the condensed consolidated statement of operations that is used to present the earnings effect of the hedged item. When two or more derivative instruments in combination are jointly designated as a cash flow hedging instrument, as with foreign currency exchange option collars, they are treated as a single instrument. If the hedge relationship is terminated for any derivatives designated as cash flow hedges, then the change in fair value of the derivative recorded in other comprehensive income (loss) is recognized in earnings when the previously hedged item affects earnings, consistent with the original hedge strategy. For hedge relationships discontinued because the forecasted transaction is not expected to occur according to the original strategy, any related derivative amounts recorded in other comprehensive income (loss) are immediately recognized in earnings. The Company uses the spot method to assess effectiveness of cross-currency interest rate swaps that are designated as net investment hedges, whereby, the change in fair value due to foreign currency exchange spot rates is recorded in other comprehensive income (loss) and the change in fair value of the excluded component is recorded in other comprehensive income (loss) and amortized to interest expense on a straight-line basis. From time to time, the Company also uses foreign exchange forward contracts to hedge against the effect of foreign exchange rate fluctuations on a portion of its net investment in the foreign subsidiaries. The Company uses the spot method to assess effectiveness of qualifying foreign currency forwards that are designated as net investment hedges, whereby, the change in fair value due to foreign currency exchange spot rates is recorded in other comprehensive income (loss) and the change in fair value of the excluded component is recorded in other comprehensive income (loss) and amortized to interest expense on a straight-line basis. Foreign currency gains or losses associated with derivatives that are not designated as hedging instruments for accounting purposes are recorded within other income (expense) in the Company’s condensed consolidated statements of operations, with the exception of (i) foreign currency embedded derivatives contained in certain of the Company’s customer contracts and (ii) foreign exchange forward contracts that are entered into to hedge the accounting impact of the foreign currency embedded derivatives, which are recorded within revenues in the Company’s condensed consolidated statements of operations. For further information on derivatives and hedging activities, see Note 6 below. 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") 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 25.6% and 15.0% for the six months ended June 30, 2019 and 2018 , respectively. The increase in the effective tax rate for the six months ended June 30, 2019 as compared to the same period in 2018 is primarily due to a one-time tax benefit recognized as a result of a legal entity reorganization in the Company's Americas region during the six months ended June 30, 2018 . Assets Held for Sale Assets and liabilities to be disposed of that meet all of the criteria to be classified as held for sale as set forth in the accounting standard for impairment or disposal of long-lived assets are reported at the lower of their carrying amounts or fair values less costs to sell. Assets are not depreciated or amortized while they are classified as held for sale. For further information on assets held for sale, see Note 5 below. Recent Accounting Pronouncements Accounting Standards Not Yet Adopted In June 2016, Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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 will adopt this new ASU on January 1, 2020. 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 condensed consolidated financial statements. Accounting Standards Adopted In August 2017, FASB issued ASU 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 adopted ASU 2017-12 on January 1, 2019 using the modified retrospective approach. For cash flow hedges existing on the date of adoption, the Company recognized the cumulative effect of the change on the opening balance of accumulated other comprehensive income (loss) with a corresponding adjustment to the opening balance of retained earnings for amounts previously recognized in earnings related to ineffectiveness. The adoption of this standard did not have a material impact on the Company's condensed consolidated financial statements. In February 2016, FASB issued ASU 2016-02, Leases and issued subsequent amendments to the initial guidance, collectively referred to as "Topic 842." Topic 842 replaces the guidance in former ASC Topic 840, Leases. The new lease guidance increases transparency and comparability among organizations by requiring the recognition of 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 future obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use ("ROU") 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. Topic 842 allows entities to adopt with one of two methods: the modified retrospective transition method or the alternative transition method. On January 1, 2019, the Company adopted Topic 842 using the alternative transition method. Therefore, results for reporting periods beginning after January 1, 2019 are presented under Topic 842, while comparative information has not been restated and continues to be reported under accounting standards in effect for those periods. The Company recognized the cumulative effects of initially applying the standard as an adjustment to the opening balance of retained earnings in the period of adoption. In adopting the new guidance, the Company elected to apply the package of practical expedients permitted under the transition guidance which allows the Company not to reassess (1) whether any expired or existing contracts contain leases under the new definition of a lease; (2) lease classification for any expired or existing leases; and (3) whether previously capitalized initial direct costs would qualify for capitalization under Topic 842. The Company also elected to apply the land easements practical expedient which permits the Company not to assess at transition whether any expired or existing land easements are, or contain, leases if they were not previously accounted for as leases under Topic 840. Upon adoption of Topic 842, the Company also elected to adopt the practical expedient which allows the Company to combine qualified non-lease and lease components by underlying class of asset based, on predominance, as a lessor. Occasionally, the Company enters into revenue contracts with customers for data center and office spaces, which contain both lease and non-lease components. In general, lease and non-lease components related to the use of space and solutions provided in a data center, which share the same pattern of transfer, will be combined and accounted for under ASC 606, Revenue from Contracts with Customers. Lease and non-lease components related to the use of office space, which share the same pattern of transfer, will be combined and accounted for under Topic 842. Lease components which are not classified as operating leases do not qualify for the practical expedient. Non-lease components, which do not have similar patterns of transfers, such as professional services and goods for resale, are also excluded from combination. Adoption of the standard had a significant impact on the Company's financial results, including the (1) recognition of new ROU assets and liabilities on its balance sheet for all operating leases; and (2) de-recognition of existing build-to-suit assets and liabilities with cumulative effects of initially applying the standard as an adjustment to the retained earnings. The cumulative effect of the changes made to its consolidated January 1, 2019 balance sheet from the adoption of Topic 842 was as follows (in thousands): Balance Sheet Balances at December 31, 2018 Adjustments due to adoption of Topic 842 Balances at January 1, 2019 Assets Other current assets $ 274,857 $ (15,949 ) $ 258,908 Property, plant and equipment, net 11,026,020 (293,111 ) 10,732,909 Operating lease right-of-use assets — 1,468,762 1,468,762 Intangible assets, net 2,333,296 (23,205 ) 2,310,091 Other assets 533,252 (63,468 ) 469,784 Liabilities Current portion of operating lease liabilities — 144,405 144,405 Current portion of finance lease liabilities — 70,795 70,795 Current portion of capital lease and other financing obligations 77,844 (77,844 ) — Other current liabilities 126,995 (6,455 ) 120,540 Operating lease liabilities, less current portion — 1,312,262 1,312,262 Finance lease liabilities, less current portion — 1,165,188 1,165,188 Capital lease and other financing obligations, less current portion 1,441,077 (1,441,077 ) — Other liabilities 629,763 (88,272 ) 541,491 Equity Retained Earnings 889,948 (5,973 ) 883,975

Revenue

Revenue	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Contract Balances The following table summarizes the opening and closing balances of the Company's accounts receivable, net; contract asset, current; contract asset, non-current; deferred revenue, current; and deferred revenue, non-current (in thousands): Accounts receivable, net Contract asset, current Contract asset, non-current Deferred revenue, current Deferred revenue, non-current Beginning balances as of January 1, 2019 $ 630,119 $ 9,778 $ 16,396 $ 73,142 $ 46,641 Closing balances as of June 30, 2019 752,680 9,346 18,883 77,026 46,517 Increase/(decrease) $ 122,561 $ (432 ) $ 2,487 $ 3,884 $ (124 ) The difference between the opening and closing balances of the Company's accounts receivable, net, contract assets and deferred revenues primarily results from revenue growth and the timing difference between the satisfaction of the Company's performance obligation and the customer's payment. The amounts of revenue recognized during the six months ended June 30, 2019 from the opening deferred revenue balance as of January 1, 2019 was $62.6 million . Remaining performance obligations As of June 30, 2019 , approximately $7.6 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 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 above include revenues to be recognized in the future related to arrangements where the Company is considered the lessor.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2019
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 2019 2018 2019 2018 Net income $ 143,852 $ 67,618 $ 261,599 $ 130,512 Net (income) loss attributable to non-controlling interests (325 ) — 6 — Net income attributable to Equinix $ 143,527 $ 67,618 $ 261,605 $ 130,512 Weighted-average shares used to calculate basic EPS 84,399 79,479 83,114 79,361 Effect of dilutive securities: Employee equity awards 368 273 357 385 Weighted-average shares used to calculate diluted EPS 84,767 79,752 83,471 79,746 EPS attributable to Equinix: Basic EPS $ 1.70 $ 0.85 $ 3.15 $ 1.64 Diluted EPS $ 1.69 $ 0.85 $ 3.13 $ 1.64 The Company has excluded common stock related to employee equity awards in the diluted EPS calculation above of approximately 4,000 shares and 220,000 shares for the three months ended June 30, 2019 and 2018 , respectively, and approximately 54,000 and 247,000 shares for the six months ended June 30, 2019 and 2018 , respectively, because their effect would be anti-dilutive.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Acquisitions	Acquisitions 2019 Acquisition On April 18, 2019, the Company completed the acquisition of Switch Datacenters' AMS1 data center business in Amsterdam, Netherlands, for a cash purchase price of approximately €30.6 million or approximately $34.3 million , at the exchange rate in effect on April 18, 2019. The valuation of assets acquired and liabilities assumed are still being appraised by a third-party and the purchase price allocation is not yet complete. The operating results of the acquisition are reported in the EMEA region following the date of acquisition, and are not significant to the Company's total operations for the three months ended June 30, 2019. 2018 Acquisitions On April 18, 2018, the Company acquired all of the equity interests in Metronode from the Ontario Teachers' Pension Plan Board for a cash purchase price of A$1.034 billion or approximately $804.6 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 $804.0 million . The consideration was comprised of approximately $45.8 million in cash, subject to customary adjustments, and $758.2 million aggregate fair value of 5.000% senior unsecured notes (see Note 9). 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. During the three months ended March 31, 2019, the Company completed the detailed valuation analysis of Metronode and Infomart Dallas to derive the fair value of assets acquired and liabilities assumed and finalized the allocation of purchase price for Metronode and Infomart Dallas. For the Metronode Acquisition, the adjustments made during the three months ended March 31, 2019 primarily resulted in a decrease in deferred tax liability and goodwill of $4.2 million and $3.7 million , respectively. No purchase price allocation adjustments were made during the three months ended March 31, 2019 for the Infomart Dallas Acquisition. For the Metronode Acquisition, the adjustments made from the provisional amounts reported as of June 30, 2018 primarily resulted in a decrease in property, plant and equipment, other assets, other liabilities and deferred tax assets of $10.1 million , $10.0 million , $9.7 million and $4.1 million , respectively, and an increase in goodwill, intangible assets and deferred tax liabilities of $41.6 million , $4.8 million and $31.3 million , respectively. The adjustments for the Infomart Dallas Acquisition made from the provisional amounts reported as of June 30, 2018 primarily resulted in a decrease in goodwill of $6.2 million and an increase in intangible assets of $4.6 million . 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 any reporting periods prior to March 31, 2019. A summary of the final 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 9,421 395 Property, plant, and equipment 297,092 362,023 Intangible assets 128,229 65,847 Goodwill 410,188 197,378 Other assets (1) 44,373 — Total assets acquired 900,827 643,712 Accounts payable and accrued liabilities (17,104 ) (5,056 ) Other current liabilities (2,038 ) (2,141 ) Deferred tax liabilities (31,281 ) — Other liabilities (1) (45,851 ) (4,723 ) Net assets acquired $ 804,553 $ 631,792 (1) In connection with the Metronode Acquisition, the Company recorded indemnification assets of $44.4 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) $ 128,229 20.0 20.0 Customer relationships (Infomart Dallas) 35,860 20.0 20.0 In-place leases (Infomart Dallas) 19,960 3.6 - 7.5 6.8 Trade names (Infomart Dallas) 9,552 20.0 20.0 Favorable leases (Infomart Dallas) 475 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 8.2% for Infomart Dallas, which reflected the nature of the assets as they relate to the risk and uncertainty of the estimated future operating cash flows. Other assumptions used to estimate the fair value of customer relationships included 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 8.2% . 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. 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 deductible for local tax purposes and is attributable to the Company's Americas region. Operating results of Metronode and Infomart Dallas have been reported in the Asia-Pacific and Americas regions, respectively. For the three months ended June 30, 2019 , the Company's results of operations included $27.4 million of revenues and insignificant net income from operations from the combined operations of Metronode and Infomart Dallas. For the six months ended June 30, 2019 , the Company's results of operations included $54.6 million of revenues and $3.3 million of net income from operations from the combined operations of Metronode and Infomart Dallas.

Assets Held for Sale

Assets Held for Sale	6 Months Ended
	Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Assets Held for Sale	Assets Held for Sale In June 2019, the Company entered into an agreement to form a joint venture in the form of a limited liability partnership with GIC, Singapore’s sovereign wealth fund (the "Joint Venture"), to develop and operate xScale™ data centers in Europe. Under the terms of the agreement, the Company will own a 20% interest and GIC will own an 80% interest in the Joint Venture. The Company has agreed to sell both its London 10 and Paris 8 data centers, certain construction development and leases in London, Amsterdam and Frankfurt to the Joint Venture. The assets and liabilities of these data centers and facilities, which are currently included within the Company's EMEA operating segment, were classified as held for sale as of June 30, 2019 . The transaction is expected to close in the third quarter of 2019, pending regulatory approval and other closing conditions. In January 2019, the Company entered into an agreement to sell its New York 12 ("NY12") data center. The assets of the NY12 data center to be divested were classified as held for sale. During the six months ended June 30, 2019, the Company recorded an impairment charge of $14.7 million , reducing the carrying value of NY12 assets to the estimated fair value less cost to sell. The following table summarizes the assets and liabilities that were classified as assets and liabilities held for sale in the condensed consolidated balance sheet as of June 30, 2019 (in thousands): Property, plant and equipment $ 264,807 Operating lease right-of-use assets 9,557 Goodwill 68,499 Intangible assets 2,669 Deferred tax assets 1,557 Other assets 6,533 Total assets held for sale $ 353,622 Current portion of operating lease liabilities $ 667 Current portion of finance lease liabilities 112 Operating lease liabilities, less current portion 9,224 Finance lease liabilities, less current portion 41,709 Deferred tax liabilities 335 Other liabilities 983 Total liabilities held for sale $ 53,030

Derivatives and Hedging Activit

Derivatives and Hedging Activities	6 Months Ended
	Jun. 30, 2019
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 the value of investments in its 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 debt obligations, which are designated as hedges against the Company's net investments in foreign subsidiaries. As of June 30, 2019 and December 31, 2018 , the total principal amounts of foreign currency debt obligations designated as net investment hedges were $4,130.2 million and $4,139.8 million , respectively. The Company also uses cross-currency interest rate swaps to hedge a portion of its net investment in its European operations. As of June 30, 2019 , U.S. Dollar to Euro cross-currency interest rate swap contracts with a total notional amount of $750.0 million were outstanding, with maturity dates in April 2022, January 2024 and January 2025. At maturity of each outstanding contract, the Company will receive U.S. Dollars from and pay Euros to the contract counterparty. During the term of each contract, the Company receives interest payments in U.S. Dollars and makes interest payments in Euros based on a notional amount and fixed interest rates determined at contract inception. The Company did not have any cross-currency interest rate swaps outstanding as of December 31, 2018 . The effect of net investment hedges on accumulated other comprehensive income and the condensed consolidated statements of operations for the three and six months ended June 30, 2019 and 2018 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended Six Months Ended 2019 2018 2019 2018 Foreign currency debt $ (34,309 ) $ 226,115 $ 29,606 $ 151,843 Cross-currency interest rate swaps (included component) (1) (9,689 ) — 5,826 — Cross-currency interest rate swaps (excluded component) (2) 6,141 — 3,551 — Total $ (37,857 ) $ 226,115 $ 38,983 $ 151,843 Amount of gain or (loss) recognized in earnings: Location of gain or (loss) Three Months Ended Six Months Ended 2019 2018 2019 2018 Cross-currency interest rate swaps (excluded component) (2) Interest expense $ 4,928 $ — $ 9,091 $ — Total $ 4,928 $ — $ 9,091 $ — (1) Included component represents foreign exchange spot rates. (2) Excluded component represents cross-currency basis spread and interest rates. 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 to hedge this exposure are designated as cash flow hedges. As of June 30, 2019 and December 31, 2018 , the total notional amounts of these foreign exchange contracts were $853.2 million and $760.9 million , respectively. The Company enters into intercompany hedging instruments ("intercompany derivatives") with wholly-owned subsidiaries 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 effect of cash flow hedges on accumulated other comprehensive income and the condensed consolidated statements of operations for the three and six months ended June 30, 2019 and 2018 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended Six Months Ended 2019 2018 2019 2018 Foreign currency forward and option contracts (included component) (1) $ (2,599 ) $ 47,031 $ 8,366 $ 41,590 Foreign currency option contracts (excluded component) (2) (1,405 ) — (1,405 ) — Total $ (4,004 ) $ 47,031 $ 6,961 $ 41,590 Amount of gain or (loss) reclassified from accumulated other comprehensive income to income: Three Months Ended Six Months Ended Location of gain or (loss) 2019 2018 2019 2018 Foreign currency forward contracts Revenues $ 18,684 $ (12,904 ) $ 28,545 $ (31,319 ) Foreign currency forward contracts Cost of revenues (9,745 ) 6,778 (15,074 ) 16,101 Total $ 8,939 $ (6,126 ) $ 13,471 $ (15,218 ) Amount of gain or (loss) excluded from effectiveness testing included in income: Three Months Ended Six Months Ended Location of gain or (loss) 2019 2018 2019 2018 Foreign currency forward contracts Other income (expense) $ — $ 4,777 $ 88 $ 6,430 Foreign currency option contracts (excluded component) (2) Revenues (17 ) — (17 ) — Total $ (17 ) $ 4,777 $ 71 $ 6,430 (1) Included component represents foreign exchange spot rates. (2) Excluded component represents option's time value. As of June 30, 2019 , the Company's cash flow hedge instruments had maturity dates ranging from July 2019 to June 2021 and the Company recorded a net gain of $28.2 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, 2018, the Company's cash flow hedge instruments had maturity dates ranging from January 2019 to December 2020 and the Company recorded a net gain of $21.4 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. 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 U.S. Dollar. Economic Hedges of Embedded Derivatives . The Company uses foreign currency forward contracts to manage the foreign exchange risk associated with the Company's 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. Foreign Currency Forward Contracts . The Company also uses foreign currency forward 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. As of June 30, 2019 and December 31, 2018 , the total notional amounts of these foreign currency contracts were $1,817.2 million and $1,500.4 million , respectively. The following table presents the effect of derivatives not designated as hedging instruments in the Company's condensed consolidated statements of operations (in thousands): Amount of gain or (loss) recognized in earnings: Three Months Ended Six Months Ended Location of gain or (loss) 2019 2018 2019 2018 Embedded derivatives Revenues $ (185 ) $ 3,909 $ 722 $ 1,464 Economic hedge of embedded derivatives Revenues 598 (1,468 ) 541 (938 ) Foreign currency forward contracts Other income (expense) 10,148 47,796 18,499 43,676 Total $ 10,561 $ 50,237 $ 19,762 $ 44,202 Fair Value of Derivative Instruments The following table presents the fair value of derivative instruments recognized in the Company's condensed consolidated balance sheets as of June 30, 2019 and December 31, 2018 (in thousands): June 30, 2019 December 31, 2018 Assets (1) Liabilities (2) Assets (1) Liabilities (2) Designated as hedging instruments: Cash flow hedges Foreign currency forward and option contracts $ 42,781 $ 187 $ 38,606 $ 865 Net investment hedges Cross-currency interest rate swaps 9,377 — — — Total designated as hedging 52,158 187 38,606 865 Not designated as hedging instruments: Embedded derivatives 4,947 1,943 4,656 2,426 Economic hedges of embedded derivatives 1,873 19 525 180 Foreign currency forward contracts 4,021 23,979 29,287 6,269 Total not designated as hedging 10,841 25,941 34,468 8,875 Total Derivatives $ 62,999 $ 26,128 $ 73,074 $ 9,740 (1) As presented in the Company's condensed consolidated balance sheets within other current assets and other assets. (2) As presented in the Company's condensed consolidated balance sheets within other current liabilities and other liabilities. Offsetting Derivative Assets and Liabilities The Company presents its derivative instruments and the accrued interest related to cross-currency interest rate swaps at gross fair values in the condensed consolidated balance sheets. 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 or the accrued interest related to cross-currency interest rate swaps under master netting arrangements. The following table presents information related to these offsetting arrangements as of June 30, 2019 and December 31, 2018 (in thousands): Gross Amounts Offset in Consolidated Balance Sheet Gross Amounts Gross Amounts Offset in the Balance Sheet Net Amounts Gross Amounts not Offset in the Balance Sheet Net June 30, 2019 Derivative assets $ 80,919 $ — $ 80,919 $ (32,248 ) $ 48,671 Derivative liabilities 35,931 — 35,931 (32,248 ) 3,683 December 31, 2018 Derivative assets $ 73,074 $ — $ 73,074 $ (6,517 ) $ 66,557 Derivative liabilities 9,740 — 9,740 (6,517 ) 3,223

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
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. Publicly traded equity securities are measured at fair value with changes in the fair values recognized within other income (expense) in the Company's condensed consolidated statements of operations. 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, 2019 and December 31, 2018 . The Company's financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2019 were as follows (in thousands): Fair Value at Fair Value Measurement Using Level 1 Level 2 Assets: Cash $ 1,039,871 $ 1,039,871 $ — Money market and deposit accounts 573,658 573,658 — Publicly traded equity securities 2,215 2,215 — Certificates of deposit 15,004 — 15,004 Derivative instruments (1) 62,999 — 62,999 Total $ 1,693,747 $ 1,615,744 $ 78,003 Liabilities: Derivative instruments (1) $ 26,128 $ — $ 26,128 (1) 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, 2018 were as follows (in thousands): Fair Value at Fair Value Measurement Using Level 1 Level 2 Assets: Cash $ 486,648 $ 486,648 $ — Money market and deposit accounts 119,518 119,518 — Publicly traded equity securities 1,717 1,717 — Certificates of deposit 2,823 — 2,823 Derivative instruments (1) 73,074 — 73,074 Total $ 683,780 $ 607,883 $ 75,897 Liabilities: Derivative instruments (1) $ 9,740 $ — $ 9,740 (1) 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, 2019 and December 31, 2018 .

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Leases The Company determines if an arrangement is or contains a lease at inception. The Company enters into lease arrangements primarily for data center spaces, office spaces and equipment. The Company recognizes a ROU asset and lease liability on the condensed consolidated balance sheet for all leases with a term longer than 12 months. As of June 30, 2019 , the Company recorded finance lease assets of $968.2 million , net of accumulated amortization of $449.4 million , within the property, plant and equipment, net. ROU assets represent the Company's right to use an underlying asset for the lease term. Lease liabilities represent the Company's obligation to make lease payments arising from the lease. ROU assets and liabilities are classified and recognized at the commencement date. ROU liabilities are measured based on the present value of fixed lease payments over the lease term. ROU assets consist of (i) initial measurement of the lease liability; (ii) lease payments made to the lessor at or before the commencement date less any lease incentives received; and (iii) initial direct costs incurred by the Company. Lease payments may vary because of changes in facts or circumstances occurring after the commencement, including changes in inflation indices. Variable lease payments that depend on an index or a rate (such as the Consumer Price Index or a market interest rate) are included in the measurement of ROU assets and lease liabilities using the index or rate at the commencement date. Variable lease payments that do not depend on an index or a rate are excluded from the measurement of ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. Since most of the Company's leases do not provide an implicit rate, the Company uses its own incremental borrowing rate ("IBR") on a collateralized basis in determining the present value of lease payments. The Company utilizes a market-based approach to estimate the IBR. The approach requires significant judgment. Therefore, the Company utilizes different data sets to estimate IBRs via an analysis of (i) yields on our outstanding public debt; (ii) yields on comparable credit rating composite curves; (iii) sovereign rates; and (iv) historical difference in yields on the curves of our secured and unsecured rated debt. The Company also applies adjustments to account for considerations related to (i) tenor and (ii) country credit rating that may not be fully incorporated by the aforementioned data sets. The majority of the Company's lease arrangements include options to extend the lease. If the Company is reasonably certain to exercise such options, the periods covered by the options are included in the lease term. The depreciable lives of certain fixed assets and leasehold improvements are limited by the expected lease term. The Company has certain leases with an initial term of 12 months or less. For such leases, the Company elects not to recognize any ROU asset or lease liability on the condensed consolidated balance sheet. The Company has lease agreements with lease and non-lease components. The Company elects to account for the lease and non-lease components as a single lease component for all classes of underlying assets for which the Company has identified lease arrangements. Significant Lease Transaction Hong Kong 4 ("HK4") Data Center In August 2018, the Company entered into a lease agreement with the landlord to lease the remaining floors of the HK4 data center. The lease did not commence until May 2019. Pursuant to the accounting standard for leases, the Company assessed the lease classification of the HK4 lease at commencement date and determined that the lease should be accounted for as an operating lease. During the three months ended June 30, 2019 , the Company recorded operating lease ROU asset and liability of 317.3 million Hong Kong dollars, or $40.6 million at the exchange rate in effect on June 30, 2019. Lease Expenses The components of lease expenses are as follows (in thousands): Three Months Ended June 30, 2019 Six Months Ended Finance lease cost Amortization of right-of-use assets (1) $ 19,811 $ 39,897 Interest on lease liabilities 27,111 54,634 Total finance lease cost 46,922 94,531 Operating lease cost 54,920 106,559 Total lease cost $ 101,842 $ 201,090 (1) Amortization of right-of-use assets is included with depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the condensed consolidated statements of operations. Other Information Other information related to leases is as follows (in thousands): Six Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 52,701 Operating cash flows from operating leases 101,875 Financing cash flows from finance leases 43,112 Right-of-use assets obtained in exchange for lease obligations: (1) Finance leases $ 2,597 Operating leases 77,905 As of June 30, 2019 Weighted-average remaining lease term - finance leases (2) 14 years Weighted-average remaining lease term - operating leases (2) 13 years Weighted-average discount rate - finance leases 10 % Weighted-average discount rate - operating leases 4 % (1) Represents all non-cash changes in ROU assets, including the impact of reclassifying finance lease and operating lease ROU assets of $36.9 million and $9.6 million , respectively, to assets held for sale. Refer to Note 5. (2) Includes lease renewal options that are reasonably certain to be exercised. Maturities of Lease Liabilities Maturities of lease liabilities under Topic 842 as of June 30, 2019 are as follows (in thousands): Operating Leases Finance Leases Total 2019 (6 months remaining) $ 93,232 $ 76,153 $ 169,385 2020 198,629 157,700 356,329 2021 185,623 156,656 342,279 2022 178,060 157,284 335,344 2023 163,424 158,137 321,561 Thereafter 1,184,006 1,563,362 2,747,368 Total lease payments 2,002,974 2,269,292 4,272,266 Plus amount representing residual property value — 19,027 19,027 Less imputed interest (537,714 ) (1,086,549 ) (1,624,263 ) Total $ 1,465,260 $ 1,201,770 $ 2,667,030 For the year ended December 31, 2018, the Company's operating lease, capital lease and other financing obligations under ASC Topic 840 are summarized as follows (in thousands): Capital Lease Obligations Other Financing Obligations (1) Total Capital Lease and Other Financing Obligations Operating Leases 2019 $ 103,859 $ 80,292 $ 184,151 $ 187,280 2020 97,326 73,266 170,592 179,515 2021 95,414 73,672 169,086 166,159 2022 94,954 73,856 168,810 158,115 2023 95,463 69,423 164,886 147,677 Thereafter 878,755 722,496 1,601,251 1,130,494 Total minimum lease payments 1,365,771 1,093,005 2,458,776 1,969,240 Plus amount representing residual property value — 389,643 389,643 — Less amount representing interest (602,026 ) (727,472 ) (1,329,498 ) — Present value of net minimum lease payments 763,745 755,176 1,518,921 1,969,240 Less current portion (43,498 ) (34,346 ) (77,844 ) — Total $ 720,247 $ 720,830 $ 1,441,077 $ 1,969,240 (1) Other financing obligations are primarily related to build-to-suit arrangements. The Company entered into agreements with various landlords primarily to lease data center spaces which have not yet commenced as of June 30, 2019 . These leases will commence between fiscal years 2019 and 2020 , with lease terms of 5 to 29 years and a total lease commitment of approximately $260.3 million .
Leases	Leases The Company determines if an arrangement is or contains a lease at inception. The Company enters into lease arrangements primarily for data center spaces, office spaces and equipment. The Company recognizes a ROU asset and lease liability on the condensed consolidated balance sheet for all leases with a term longer than 12 months. As of June 30, 2019 , the Company recorded finance lease assets of $968.2 million , net of accumulated amortization of $449.4 million , within the property, plant and equipment, net. ROU assets represent the Company's right to use an underlying asset for the lease term. Lease liabilities represent the Company's obligation to make lease payments arising from the lease. ROU assets and liabilities are classified and recognized at the commencement date. ROU liabilities are measured based on the present value of fixed lease payments over the lease term. ROU assets consist of (i) initial measurement of the lease liability; (ii) lease payments made to the lessor at or before the commencement date less any lease incentives received; and (iii) initial direct costs incurred by the Company. Lease payments may vary because of changes in facts or circumstances occurring after the commencement, including changes in inflation indices. Variable lease payments that depend on an index or a rate (such as the Consumer Price Index or a market interest rate) are included in the measurement of ROU assets and lease liabilities using the index or rate at the commencement date. Variable lease payments that do not depend on an index or a rate are excluded from the measurement of ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. Since most of the Company's leases do not provide an implicit rate, the Company uses its own incremental borrowing rate ("IBR") on a collateralized basis in determining the present value of lease payments. The Company utilizes a market-based approach to estimate the IBR. The approach requires significant judgment. Therefore, the Company utilizes different data sets to estimate IBRs via an analysis of (i) yields on our outstanding public debt; (ii) yields on comparable credit rating composite curves; (iii) sovereign rates; and (iv) historical difference in yields on the curves of our secured and unsecured rated debt. The Company also applies adjustments to account for considerations related to (i) tenor and (ii) country credit rating that may not be fully incorporated by the aforementioned data sets. The majority of the Company's lease arrangements include options to extend the lease. If the Company is reasonably certain to exercise such options, the periods covered by the options are included in the lease term. The depreciable lives of certain fixed assets and leasehold improvements are limited by the expected lease term. The Company has certain leases with an initial term of 12 months or less. For such leases, the Company elects not to recognize any ROU asset or lease liability on the condensed consolidated balance sheet. The Company has lease agreements with lease and non-lease components. The Company elects to account for the lease and non-lease components as a single lease component for all classes of underlying assets for which the Company has identified lease arrangements. Significant Lease Transaction Hong Kong 4 ("HK4") Data Center In August 2018, the Company entered into a lease agreement with the landlord to lease the remaining floors of the HK4 data center. The lease did not commence until May 2019. Pursuant to the accounting standard for leases, the Company assessed the lease classification of the HK4 lease at commencement date and determined that the lease should be accounted for as an operating lease. During the three months ended June 30, 2019 , the Company recorded operating lease ROU asset and liability of 317.3 million Hong Kong dollars, or $40.6 million at the exchange rate in effect on June 30, 2019. Lease Expenses The components of lease expenses are as follows (in thousands): Three Months Ended June 30, 2019 Six Months Ended Finance lease cost Amortization of right-of-use assets (1) $ 19,811 $ 39,897 Interest on lease liabilities 27,111 54,634 Total finance lease cost 46,922 94,531 Operating lease cost 54,920 106,559 Total lease cost $ 101,842 $ 201,090 (1) Amortization of right-of-use assets is included with depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the condensed consolidated statements of operations. Other Information Other information related to leases is as follows (in thousands): Six Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 52,701 Operating cash flows from operating leases 101,875 Financing cash flows from finance leases 43,112 Right-of-use assets obtained in exchange for lease obligations: (1) Finance leases $ 2,597 Operating leases 77,905 As of June 30, 2019 Weighted-average remaining lease term - finance leases (2) 14 years Weighted-average remaining lease term - operating leases (2) 13 years Weighted-average discount rate - finance leases 10 % Weighted-average discount rate - operating leases 4 % (1) Represents all non-cash changes in ROU assets, including the impact of reclassifying finance lease and operating lease ROU assets of $36.9 million and $9.6 million , respectively, to assets held for sale. Refer to Note 5. (2) Includes lease renewal options that are reasonably certain to be exercised. Maturities of Lease Liabilities Maturities of lease liabilities under Topic 842 as of June 30, 2019 are as follows (in thousands): Operating Leases Finance Leases Total 2019 (6 months remaining) $ 93,232 $ 76,153 $ 169,385 2020 198,629 157,700 356,329 2021 185,623 156,656 342,279 2022 178,060 157,284 335,344 2023 163,424 158,137 321,561 Thereafter 1,184,006 1,563,362 2,747,368 Total lease payments 2,002,974 2,269,292 4,272,266 Plus amount representing residual property value — 19,027 19,027 Less imputed interest (537,714 ) (1,086,549 ) (1,624,263 ) Total $ 1,465,260 $ 1,201,770 $ 2,667,030 For the year ended December 31, 2018, the Company's operating lease, capital lease and other financing obligations under ASC Topic 840 are summarized as follows (in thousands): Capital Lease Obligations Other Financing Obligations (1) Total Capital Lease and Other Financing Obligations Operating Leases 2019 $ 103,859 $ 80,292 $ 184,151 $ 187,280 2020 97,326 73,266 170,592 179,515 2021 95,414 73,672 169,086 166,159 2022 94,954 73,856 168,810 158,115 2023 95,463 69,423 164,886 147,677 Thereafter 878,755 722,496 1,601,251 1,130,494 Total minimum lease payments 1,365,771 1,093,005 2,458,776 1,969,240 Plus amount representing residual property value — 389,643 389,643 — Less amount representing interest (602,026 ) (727,472 ) (1,329,498 ) — Present value of net minimum lease payments 763,745 755,176 1,518,921 1,969,240 Less current portion (43,498 ) (34,346 ) (77,844 ) — Total $ 720,247 $ 720,830 $ 1,441,077 $ 1,969,240 (1) Other financing obligations are primarily related to build-to-suit arrangements. The Company entered into agreements with various landlords primarily to lease data center spaces which have not yet commenced as of June 30, 2019 . These leases will commence between fiscal years 2019 and 2020 , with lease terms of 5 to 29 years and a total lease commitment of approximately $260.3 million .

Debt Facilities

Debt Facilities	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt Facilities	Debt Facilities Mortgage and Loans Payable As of June 30, 2019 and December 31, 2018 , the Company's mortgage and loans payable consisted of the following (in thousands): June 30, December 31, 2018 Term loans $ 1,301,849 $ 1,344,482 Mortgage payable and loans payable 42,392 44,042 1,344,241 1,388,524 Less amount representing unamortized debt discount and debt issuance cost (5,725 ) (6,614 ) Add amount representing unamortized mortgage premium 1,830 1,882 1,340,346 1,383,792 Less current portion (72,795 ) (73,129 ) Total $ 1,267,551 $ 1,310,663 Senior Notes As of June 30, 2019 and December 31, 2018 , the Company's senior notes consisted of the following (in thousands): June 30, 2019 December 31, 2018 Amount Effective Rate Amount Effective Rate 5.000% Infomart Senior Notes (1) $ 600,000 4.43 % $ 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 852,600 3.08 % 859,125 3.08 % 5.750% Senior Notes due 2025 500,000 5.88 % 500,000 5.88 % 2.875% Euro Senior Notes due 2025 1,136,800 3.04 % 1,145,500 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 1,136,800 3.04 % 1,145,500 3.04 % 5.375% Senior Notes due 2027 1,250,000 5.51 % 1,250,000 5.51 % 8,326,200 8,500,125 Less amount representing unamortized debt issuance cost (68,936 ) (75,372 ) Add amount representing unamortized debt premium 3,132 5,031 8,260,396 8,429,784 Less current portion (300,929 ) (300,999 ) Total $ 7,959,467 $ 8,128,785 (1) 5.000% Infomart Senior Notes consist of five tranches due in each of April 2019, October 2019, April 2020, October 2020 and April 2021. The effective rate represents the weighted-average effective interest rates of the tranches outstanding at the periods presented in the table above. 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, 2019 (in thousands): Years ending: 2019 (6 months remaining) $ 186,592 2020 372,978 2021 222,722 2022 1,908,801 2023 1,002,528 Thereafter 5,978,650 Total $ 9,672,271 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, Mortgage and loans payable $ 1,349,302 $ 1,389,632 Senior notes 8,710,218 8,422,211 The fair values of the mortgage and loans payable and 5.000% Infomart Senior Notes, which were not publicly traded, were 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 2019 2018 2019 2018 Interest expense $ 120,547 $ 134,673 $ 243,393 $ 260,950 Interest capitalized 5,910 3,484 15,764 6,798 Interest charges incurred $ 126,457 $ 138,157 $ 259,157 $ 267,748 Total interest paid, net of capitalized interest, during the three months ended June 30, 2019 and 2018 was $107.4 million and $111.6 million , respectively. Total interest paid, net of capitalized interest, during the six months ended June 30, 2019 and 2018 was $243.6 million and $215.3 million , respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
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, 2019 , the Company was contractually committed for approximately $0.9 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, 2019 , such as commitments to purchase power in select locations through the remainder of 2019 and thereafter, and other open purchase orders for goods or services to be delivered or provided during the remainder of 2019 and thereafter. Such other miscellaneous purchase commitments totaled approximately $1.0 billion as of June 30, 2019 . In addition, the Company entered into lease agreements in various locations that have not yet commenced as of June 30, 2019 . For further information on lease commitments, see Note 8 above. 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, 2019
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Stockholders' Equity Rollforward The following tables provide a rollforward of stockholders' equity for the three and six months ended June 30, 2019 and 2018 (in thousands): AOCI (Loss) Retained Earnings Equinix Stockholders' Equity Non-controlling Interests Total Stockholders' Equity Common Stock Treasury Stock Additional Paid-in Capital Accumulated Shares Amount Shares Amount Balance as of December 31, 2018 81,119,117 $ 81 (396,859 ) $ (145,161 ) $ 10,751,313 $ (3,331,200 ) $ (945,702 ) $ 889,948 $ 7,219,279 $ — $ 7,219,279 Adjustment from adoption of new accounting standard update — — — — — — — (5,973 ) (5,973 ) — (5,973 ) Net income (loss) — — — — — — — 118,078 118,078 (331 ) 117,747 Other comprehensive income — — — — — — 3,337 — 3,337 7 3,344 Issuance of common stock and release of treasury stock for employee equity awards 360,464 — 1,706 360 27,233 — — — 27,593 — 27,593 Issuance of common stock for equity offering 2,985,575 3 — — 1,213,431 — — — 1,213,434 — 1,213,434 Dividend distribution on common stock, $2.46 per share — — — — — (198,933 ) — — (198,933 ) — (198,933 ) Settlement of accrued dividends on vested equity awards — — — — 284 (387 ) — — (103 ) — (103 ) Accrued dividends on unvested equity awards — — — — — (2,395 ) — — (2,395 ) — (2,395 ) Stock-based compensation, net of estimated forfeitures — — — — 50,795 — — — 50,795 — 50,795 Balance as of March 31, 2019 84,465,156 84 (395,153 ) (144,801 ) 12,043,056 (3,532,915 ) (942,365 ) 1,002,053 8,425,112 (324 ) 8,424,788 Net income — — — — — — — 143,527 143,527 325 143,852 Other comprehensive loss — — — — — — (16,078 ) — (16,078 ) (14 ) (16,092 ) Issuance of common stock and release of treasury stock for employee equity awards 26,435 — 359 76 (76 ) — — — — — — Issuance of common stock under ATM Program 722,361 1 — — 348,120 — — — 348,121 — 348,121 Dividend distribution on common stock, $2.46 per share — — — — — (207,949 ) — — (207,949 ) — (207,949 ) Settlement of accrued dividends on vested equity awards — — — — 12 (33 ) — — (21 ) — (21 ) Accrued dividends on unvested equity awards — — — — — (2,972 ) — — (2,972 ) — (2,972 ) AOCI (Loss) Retained Earnings Equinix Stockholders' Equity Non-controlling Interests Total Stockholders' Equity Common Stock Treasury Stock Additional Paid-in Capital Accumulated Shares Amount Shares Amount Stock-based compensation, net of estimated forfeitures — — — — 59,502 — — — 59,502 — 59,502 Balance as of June 30, 2019 85,213,952 $ 85 (394,794 ) $ (144,725 ) $ 12,450,614 $ (3,743,869 ) $ (958,443 ) $ 1,145,580 $ 8,749,242 $ (13 ) $ 8,749,229 Additional Paid-in Capital Accumulated AOCI (Loss) Retained Equinix Common Stock Treasury Stock Shares Amount Shares Amount Balance as of December 31, 2017 79,440,404 $ 79 (402,342 ) $ (146,320 ) $ 10,121,323 $ (2,592,792 ) $ (785,189 ) $ 252,689 $ 6,849,790 Adjustment from adoption of new accounting standard update — — — — — — (2,124 ) 271,900 269,776 Net income — — — — — — — 62,894 62,894 Other comprehensive income — — — — — — 69,144 — 69,144 Issuance of common stock and release of treasury stock for employee equity awards 416,512 1 2,957 625 25,221 — — — 25,847 Dividend distribution on common stock, $2.28 per share — — — — — (180,640 ) — — (180,640 ) Settlement of accrued dividends on vested equity awards — — — — 1,795 (530 ) — — 1,265 Accrued dividends on unvested equity awards — — — — — (2,216 ) — — (2,216 ) Stock-based compensation, net of estimated forfeitures — — — — 44,691 — — — 44,691 Balance as of March 31, 2018 79,856,916 80 (399,385 ) (145,695 ) 10,193,030 (2,776,178 ) (718,169 ) 587,483 7,140,551 Net income — — — — — — — 67,618 67,618 Other comprehensive loss — — — — — — (159,825 ) — (159,825 ) Issuance of common stock and release of treasury stock for employee equity awards 31,068 — 297 63 (50 ) — — — 13 Issuance of common stock under ATM Program 19,100 — — — 8,202 — — — 8,202 Dividend distribution on common stock, $2.28 per share — — — — — (181,207 ) — — (181,207 ) Settlement of accrued dividends on vested equity awards — — — — 103 (43 ) — — 60 Accrued dividends on unvested equity awards — — — — — (2,755 ) — — (2,755 ) Stock-based compensation, net of estimated forfeitures — — — — 51,870 — — — 51,870 Balance as of June 30, 2018 79,907,084 $ 80 (399,088 ) $ (145,632 ) $ 10,253,155 $ (2,960,183 ) $ (877,994 ) $ 655,101 $ 6,924,527 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 Balance as of Foreign currency translation adjustment ("CTA") loss $ (998,603 ) $ (56,585 ) $ (1,055,188 ) Unrealized gain on cash flow hedges (1) 19,480 4,869 24,349 Net investment hedge CTA gain (1) 34,325 38,993 73,318 Net actuarial loss on defined benefit plans (2) (904 ) (18 ) (922 ) Accumulated other comprehensive loss attributable to Equinix $ (945,702 ) $ (12,741 ) $ (958,443 ) (1) Refer to Note 6 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income. (2) 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, 2019 , 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, 2018. 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, 2019 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 March 2019, the Company issued and sold 2,985,575 shares of common stock in a public offering pursuant to a registration statement and a related prospectus and prospectus supplement. The Company received net proceeds of approximately $1,213.4 million , net of underwriting discounts, commissions and offering expenses. In August 2017, the Company established an "at-the-market" equity offering program (the "2017 ATM Program") under which the Company may, from time to time, issue and sell shares of its common stock to or through sales agents up to an aggregate of $750.0 million . For the six months ended June 30, 2018, the Company sold 19,100 shares under the 2017 ATM Program, for approximately $7.6 million , net of payment of commissions to the sales agents. As of December 31, 2018, no shares remained available for sale under the 2017 ATM Program. In December 2018, the Company launched another ATM program, under which it 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 "2018 ATM Program"). For the six months ended June 30, 2019 , the Company sold 722,361 shares under the 2018 ATM program, for approximately $348.2 million , net of payment of commissions to sales agents. Stock-Based Compensation For the six months ended June 30, 2019 , 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 697,174 shares of restricted stock units to certain employees, including executive officers, pursuant to the 2000 Equity Incentive Plan. These equity awards are subject to vesting provisions and have a weighted-average grant date fair value of $434.17 and a weighted-average requisite service period of 3.66 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") per share as the performance measurements in the restricted stock units with both service and performance conditions that were granted in the six months ended June 30, 2019 . 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 the six months ended June 30, 2019 . 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 2019 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 2019 2018 2019 2018 Cost of revenues $ 6,500 $ 4,607 $ 11,512 $ 8,506 Sales and marketing 15,157 14,108 28,458 25,814 General and administrative 39,862 31,010 70,572 57,941 Total $ 61,519 $ 49,725 $ 110,542 $ 92,261

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2019
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 following tables present revenue information disaggregated by product lines and geographic areas (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Americas EMEA Asia-Pacific Total Americas EMEA Asia-Pacific Total Colocation (1) $ 444,086 $ 347,795 $ 213,734 $ 1,005,615 $ 884,067 $ 678,920 $ 423,399 $ 1,986,386 Interconnection 142,460 38,614 37,957 219,031 281,023 76,139 74,653 431,815 Managed infrastructure 22,908 28,397 22,467 73,772 44,695 57,485 44,387 146,567 Other (1) 5,352 2,275 — 7,627 11,331 4,774 — 16,105 Recurring revenues 614,806 417,081 274,158 1,306,045 1,221,116 817,318 542,439 2,580,873 Non-recurring revenues 29,614 32,774 16,544 78,932 67,670 67,197 32,455 167,322 Total $ 644,420 $ 449,855 $ 290,702 $ 1,384,977 $ 1,288,786 $ 884,515 $ 574,894 $ 2,748,195 (1) Includes some leasing and hedging activities. 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. 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, 2019 and 2018 . The Company defines adjusted EBITDA as income from operations excluding depreciation, amortization, accretion, stock-based compensation expense, restructuring charges, impairment charges, acquisition costs and gain on asset sales as presented below (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Adjusted EBITDA: Americas $ 309,052 $ 293,955 $ 616,890 $ 585,504 EMEA 209,645 170,815 408,717 336,993 Asia-Pacific 158,313 139,234 311,558 261,022 Total adjusted EBITDA 677,010 604,004 1,337,165 1,183,519 Depreciation, amortization and accretion expense (320,550 ) (308,828 ) (635,255 ) (615,293 ) Stock-based compensation expense (61,519 ) (49,725 ) (110,542 ) (92,261 ) Impairment charges (386 ) — (14,834 ) — Acquisition costs (2,774 ) (30,413 ) (5,245 ) (35,052 ) Income from operations $ 291,781 $ 215,038 $ 571,289 $ 440,913 The Company also provides the following additional segment disclosures (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Depreciation and amortization: Americas $ 167,244 $ 159,922 $ 334,014 $ 317,500 EMEA 87,980 88,492 172,145 181,772 Asia-Pacific 64,000 58,917 126,243 115,627 Total $ 319,224 $ 307,331 $ 632,402 $ 614,899 Capital expenditures: Americas $ 173,623 $ 200,277 $ 318,118 $ 347,606 EMEA 170,851 222,377 335,206 376,768 Asia-Pacific 99,697 97,585 154,814 145,594 Total $ 444,171 $ 520,239 $ 808,138 $ 869,968 The Company's long-lived assets are located in the following geographic areas as of (in thousands): June 30, December 31, Americas $ 5,055,889 $ 5,010,507 EMEA 3,715,307 3,726,596 Asia-Pacific 2,221,544 2,288,917 Total long-lived assets $ 10,992,740 $ 11,026,020

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 31, 2019 , the Company declared a quarterly cash dividend of $2.46 per share, which is payable on September 18, 2019 to the Company's common stockholders of record as of the close of business on August 21, 2019 .

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
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, 2018 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 22, 2019. 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 Switch Datacenters' AMS1 data center business in Amsterdam, Netherlands from April 18, 2019, Metronode from April 18, 2018 and Infomart Dallas from April 2, 2018. All intercompany accounts and transactions have been eliminated in consolidation.
Derivatives and Hedging Activities	Derivatives and Hedging Activities The Company uses derivative instruments, including foreign currency forwards and options and cross-currency interest rate swaps, to manage certain foreign currency exposures. Derivative instruments are viewed as risk management tools by the Company and are not used for speculative purposes. The Company recognizes all derivatives on the Company's condensed consolidated balance sheets at fair value. The accounting for changes in the value of a derivative depends on whether the contract qualifies and has been designated for hedge accounting. In order to qualify for hedge accounting, a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged and there must be documentation of the risk management objective and strategy, including identification of the hedging instrument, the hedged item and the risk exposure, and the effectiveness assessment methodology. For cash flow hedges, the Company uses regression analysis at the time they are designated to assess their effectiveness. Hedge designations are reviewed on a quarterly basis to assess whether circumstances have changed that would disrupt the hedge instrument’s relationship to the forecasted transactions or net investment. The Company uses the forward method to assess effectiveness of qualifying foreign currency forwards that are designated as cash flow hedges, whereby, the change in the fair value of the derivative is recorded in other comprehensive income (loss) and reclassified to the same line item in the condensed consolidated statement of operations that is used to present the earnings effect of the hedged item when the hedged item affects earnings. The Company uses the spot method to assess effectiveness of qualifying foreign currency exchange options that are designated as cash flow hedges, whereby, the change in fair value due to foreign currency exchange spot rates is recorded in other comprehensive income (loss) and reclassified to the same line item in the condensed consolidated statement of operations that is used to present the earnings effect of the hedged item when the hedged item affects earnings, and the change in fair value of the excluded component is recorded in other comprehensive income (loss) and amortized on a straight-line basis to the same line item in the condensed consolidated statement of operations that is used to present the earnings effect of the hedged item. When two or more derivative instruments in combination are jointly designated as a cash flow hedging instrument, as with foreign currency exchange option collars, they are treated as a single instrument. If the hedge relationship is terminated for any derivatives designated as cash flow hedges, then the change in fair value of the derivative recorded in other comprehensive income (loss) is recognized in earnings when the previously hedged item affects earnings, consistent with the original hedge strategy. For hedge relationships discontinued because the forecasted transaction is not expected to occur according to the original strategy, any related derivative amounts recorded in other comprehensive income (loss) are immediately recognized in earnings. The Company uses the spot method to assess effectiveness of cross-currency interest rate swaps that are designated as net investment hedges, whereby, the change in fair value due to foreign currency exchange spot rates is recorded in other comprehensive income (loss) and the change in fair value of the excluded component is recorded in other comprehensive income (loss) and amortized to interest expense on a straight-line basis. From time to time, the Company also uses foreign exchange forward contracts to hedge against the effect of foreign exchange rate fluctuations on a portion of its net investment in the foreign subsidiaries. The Company uses the spot method to assess effectiveness of qualifying foreign currency forwards that are designated as net investment hedges, whereby, the change in fair value due to foreign currency exchange spot rates is recorded in other comprehensive income (loss) and the change in fair value of the excluded component is recorded in other comprehensive income (loss) and amortized to interest expense on a straight-line basis. Foreign currency gains or losses associated with derivatives that are not designated as hedging instruments for accounting purposes are recorded within other income (expense) in the Company’s condensed consolidated statements of operations, with the exception of (i) foreign currency embedded derivatives contained in certain of the Company’s customer contracts and (ii) foreign exchange forward contracts that are entered into to hedge the accounting impact of the foreign currency embedded derivatives, which are recorded within revenues in the Company’s condensed consolidated statements of operations. For further information on derivatives and hedging activities, see Note 6 below. Derivatives Designated as Hedging Instruments Net Investment Hedges. The Company is exposed to the impact of foreign exchange rate fluctuations on the value of investments in its 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 debt obligations, which are designated as hedges against the Company's net investments in foreign subsidiaries. As of June 30, 2019 and December 31, 2018 , the total principal amounts of foreign currency debt obligations designated as net investment hedges were $4,130.2 million and $4,139.8 million , respectively. The Company also uses cross-currency interest rate swaps to hedge a portion of its net investment in its European operations. As of June 30, 2019 , U.S. Dollar to Euro cross-currency interest rate swap contracts with a total notional amount of $750.0 million were outstanding, with maturity dates in April 2022, January 2024 and January 2025. At maturity of each outstanding contract, the Company will receive U.S. Dollars from and pay Euros to the contract counterparty. During the term of each contract, the Company receives interest payments in U.S. Dollars and makes interest payments in Euros based on a notional amount and fixed interest rates determined at contract inception. The Company did not have any cross-currency interest rate swaps outstanding as of December 31, 2018 . 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 to hedge this exposure are designated as cash flow hedges. As of June 30, 2019 and December 31, 2018 , the total notional amounts of these foreign exchange contracts were $853.2 million and $760.9 million , respectively. The Company enters into intercompany hedging instruments ("intercompany derivatives") with wholly-owned subsidiaries 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.
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") 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.
Assets Held for Sale	Assets Held for Sale Assets and liabilities to be disposed of that meet all of the criteria to be classified as held for sale as set forth in the accounting standard for impairment or disposal of long-lived assets are reported at the lower of their carrying amounts or fair values less costs to sell. Assets are not depreciated or amortized while they are classified as held for sale. For further information on assets held for sale, see Note 5 below.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Standards Not Yet Adopted In June 2016, Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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 will adopt this new ASU on January 1, 2020. 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 condensed consolidated financial statements. Accounting Standards Adopted In August 2017, FASB issued ASU 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 adopted ASU 2017-12 on January 1, 2019 using the modified retrospective approach. For cash flow hedges existing on the date of adoption, the Company recognized the cumulative effect of the change on the opening balance of accumulated other comprehensive income (loss) with a corresponding adjustment to the opening balance of retained earnings for amounts previously recognized in earnings related to ineffectiveness. The adoption of this standard did not have a material impact on the Company's condensed consolidated financial statements. In February 2016, FASB issued ASU 2016-02, Leases and issued subsequent amendments to the initial guidance, collectively referred to as "Topic 842." Topic 842 replaces the guidance in former ASC Topic 840, Leases. The new lease guidance increases transparency and comparability among organizations by requiring the recognition of 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 future obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use ("ROU") 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. Topic 842 allows entities to adopt with one of two methods: the modified retrospective transition method or the alternative transition method. On January 1, 2019, the Company adopted Topic 842 using the alternative transition method. Therefore, results for reporting periods beginning after January 1, 2019 are presented under Topic 842, while comparative information has not been restated and continues to be reported under accounting standards in effect for those periods. The Company recognized the cumulative effects of initially applying the standard as an adjustment to the opening balance of retained earnings in the period of adoption. In adopting the new guidance, the Company elected to apply the package of practical expedients permitted under the transition guidance which allows the Company not to reassess (1) whether any expired or existing contracts contain leases under the new definition of a lease; (2) lease classification for any expired or existing leases; and (3) whether previously capitalized initial direct costs would qualify for capitalization under Topic 842. The Company also elected to apply the land easements practical expedient which permits the Company not to assess at transition whether any expired or existing land easements are, or contain, leases if they were not previously accounted for as leases under Topic 840. Upon adoption of Topic 842, the Company also elected to adopt the practical expedient which allows the Company to combine qualified non-lease and lease components by underlying class of asset based, on predominance, as a lessor. Occasionally, the Company enters into revenue contracts with customers for data center and office spaces, which contain both lease and non-lease components. In general, lease and non-lease components related to the use of space and solutions provided in a data center, which share the same pattern of transfer, will be combined and accounted for under ASC 606, Revenue from Contracts with Customers. Lease and non-lease components related to the use of office space, which share the same pattern of transfer, will be combined and accounted for under Topic 842. Lease components which are not classified as operating leases do not qualify for the practical expedient. Non-lease components, which do not have similar patterns of transfers, such as professional services and goods for resale, are also excluded from combination. Adoption of the standard had a significant impact on the Company's financial results, including the (1) recognition of new ROU assets and liabilities on its balance sheet for all operating leases; and (2) de-recognition of existing build-to-suit assets and liabilities with cumulative effects of initially applying the standard as an adjustment to the retained earnings. The cumulative effect of the changes made to its consolidated January 1, 2019 balance sheet from the adoption of Topic 842 was as follows (in thousands): Balance Sheet Balances at December 31, 2018 Adjustments due to adoption of Topic 842 Balances at January 1, 2019 Assets Other current assets $ 274,857 $ (15,949 ) $ 258,908 Property, plant and equipment, net 11,026,020 (293,111 ) 10,732,909 Operating lease right-of-use assets — 1,468,762 1,468,762 Intangible assets, net 2,333,296 (23,205 ) 2,310,091 Other assets 533,252 (63,468 ) 469,784 Liabilities Current portion of operating lease liabilities — 144,405 144,405 Current portion of finance lease liabilities — 70,795 70,795 Current portion of capital lease and other financing obligations 77,844 (77,844 ) — Other current liabilities 126,995 (6,455 ) 120,540 Operating lease liabilities, less current portion — 1,312,262 1,312,262 Finance lease liabilities, less current portion — 1,165,188 1,165,188 Capital lease and other financing obligations, less current portion 1,441,077 (1,441,077 ) — Other liabilities 629,763 (88,272 ) 541,491 Equity Retained Earnings 889,948 (5,973 ) 883,975
Revenue Recognition	Contract Balances The following table summarizes the opening and closing balances of the Company's accounts receivable, net; contract asset, current; contract asset, non-current; deferred revenue, current; and deferred revenue, non-current (in thousands): Accounts receivable, net Contract asset, current Contract asset, non-current Deferred revenue, current Deferred revenue, non-current Beginning balances as of January 1, 2019 $ 630,119 $ 9,778 $ 16,396 $ 73,142 $ 46,641 Closing balances as of June 30, 2019 752,680 9,346 18,883 77,026 46,517 Increase/(decrease) $ 122,561 $ (432 ) $ 2,487 $ 3,884 $ (124 ) The difference between the opening and closing balances of the Company's accounts receivable, net, contract assets and deferred revenues primarily results from revenue growth and the timing difference between the satisfaction of the Company's performance obligation and the customer's payment. The amounts of revenue recognized during the six months ended June 30, 2019 from the opening deferred revenue balance as of January 1, 2019 was $62.6 million . Remaining performance obligations As of June 30, 2019 , approximately $7.6 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 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 above include revenues to be recognized in the future related to arrangements where the Company is considered the lessor.
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 U.S. Dollar. Economic Hedges of Embedded Derivatives . The Company uses foreign currency forward contracts to manage the foreign exchange risk associated with the Company's 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. Foreign Currency Forward 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. Publicly traded equity securities are measured at fair value with changes in the fair values recognized within other income (expense) in the Company's condensed consolidated statements of operations.
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

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Schedule of ASU 842 adoption	The cumulative effect of the changes made to its consolidated January 1, 2019 balance sheet from the adoption of Topic 842 was as follows (in thousands): Balance Sheet Balances at December 31, 2018 Adjustments due to adoption of Topic 842 Balances at January 1, 2019 Assets Other current assets $ 274,857 $ (15,949 ) $ 258,908 Property, plant and equipment, net 11,026,020 (293,111 ) 10,732,909 Operating lease right-of-use assets — 1,468,762 1,468,762 Intangible assets, net 2,333,296 (23,205 ) 2,310,091 Other assets 533,252 (63,468 ) 469,784 Liabilities Current portion of operating lease liabilities — 144,405 144,405 Current portion of finance lease liabilities — 70,795 70,795 Current portion of capital lease and other financing obligations 77,844 (77,844 ) — Other current liabilities 126,995 (6,455 ) 120,540 Operating lease liabilities, less current portion — 1,312,262 1,312,262 Finance lease liabilities, less current portion — 1,165,188 1,165,188 Capital lease and other financing obligations, less current portion 1,441,077 (1,441,077 ) — Other liabilities 629,763 (88,272 ) 541,491 Equity Retained Earnings 889,948 (5,973 ) 883,975

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Summary of opening and closing balances	The following table summarizes the opening and closing balances of the Company's accounts receivable, net; contract asset, current; contract asset, non-current; deferred revenue, current; and deferred revenue, non-current (in thousands): Accounts receivable, net Contract asset, current Contract asset, non-current Deferred revenue, current Deferred revenue, non-current Beginning balances as of January 1, 2019 $ 630,119 $ 9,778 $ 16,396 $ 73,142 $ 46,641 Closing balances as of June 30, 2019 752,680 9,346 18,883 77,026 46,517 Increase/(decrease) $ 122,561 $ (432 ) $ 2,487 $ 3,884 $ (124 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2019
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 2019 2018 2019 2018 Net income $ 143,852 $ 67,618 $ 261,599 $ 130,512 Net (income) loss attributable to non-controlling interests (325 ) — 6 — Net income attributable to Equinix $ 143,527 $ 67,618 $ 261,605 $ 130,512 Weighted-average shares used to calculate basic EPS 84,399 79,479 83,114 79,361 Effect of dilutive securities: Employee equity awards 368 273 357 385 Weighted-average shares used to calculate diluted EPS 84,767 79,752 83,471 79,746 EPS attributable to Equinix: Basic EPS $ 1.70 $ 0.85 $ 3.15 $ 1.64 Diluted EPS $ 1.69 $ 0.85 $ 3.13 $ 1.64

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Schedule of final allocation of total purchase consideration	A summary of the final 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 9,421 395 Property, plant, and equipment 297,092 362,023 Intangible assets 128,229 65,847 Goodwill 410,188 197,378 Other assets (1) 44,373 — Total assets acquired 900,827 643,712 Accounts payable and accrued liabilities (17,104 ) (5,056 ) Other current liabilities (2,038 ) (2,141 ) Deferred tax liabilities (31,281 ) — Other liabilities (1) (45,851 ) (4,723 ) Net assets acquired $ 804,553 $ 631,792 (1) In connection with the Metronode Acquisition, the Company recorded indemnification assets of $44.4 million , which represented the seller's obligation under the purchase agreement to reimburse pre-acquisition tax liabilities settled after the acquisition.
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) $ 128,229 20.0 20.0 Customer relationships (Infomart Dallas) 35,860 20.0 20.0 In-place leases (Infomart Dallas) 19,960 3.6 - 7.5 6.8 Trade names (Infomart Dallas) 9,552 20.0 20.0 Favorable leases (Infomart Dallas) 475 3.6 - 7.5 7.0

Assets Held for Sale (Tables)

Assets Held for Sale (Tables)	6 Months Ended
	Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Summary of assets and liabilities held for sale	The following table summarizes the assets and liabilities that were classified as assets and liabilities held for sale in the condensed consolidated balance sheet as of June 30, 2019 (in thousands): Property, plant and equipment $ 264,807 Operating lease right-of-use assets 9,557 Goodwill 68,499 Intangible assets 2,669 Deferred tax assets 1,557 Other assets 6,533 Total assets held for sale $ 353,622 Current portion of operating lease liabilities $ 667 Current portion of finance lease liabilities 112 Operating lease liabilities, less current portion 9,224 Finance lease liabilities, less current portion 41,709 Deferred tax liabilities 335 Other liabilities 983 Total liabilities held for sale $ 53,030

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of net investment hedges	The effect of net investment hedges on accumulated other comprehensive income and the condensed consolidated statements of operations for the three and six months ended June 30, 2019 and 2018 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended Six Months Ended 2019 2018 2019 2018 Foreign currency debt $ (34,309 ) $ 226,115 $ 29,606 $ 151,843 Cross-currency interest rate swaps (included component) (1) (9,689 ) — 5,826 — Cross-currency interest rate swaps (excluded component) (2) 6,141 — 3,551 — Total $ (37,857 ) $ 226,115 $ 38,983 $ 151,843 Amount of gain or (loss) recognized in earnings: Location of gain or (loss) Three Months Ended Six Months Ended 2019 2018 2019 2018 Cross-currency interest rate swaps (excluded component) (2) Interest expense $ 4,928 $ — $ 9,091 $ — Total $ 4,928 $ — $ 9,091 $ — (1) Included component represents foreign exchange spot rates. (2) Excluded component represents cross-currency basis spread and interest rates.
Summary of cash flow hedges	The effect of cash flow hedges on accumulated other comprehensive income and the condensed consolidated statements of operations for the three and six months ended June 30, 2019 and 2018 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended Six Months Ended 2019 2018 2019 2018 Foreign currency forward and option contracts (included component) (1) $ (2,599 ) $ 47,031 $ 8,366 $ 41,590 Foreign currency option contracts (excluded component) (2) (1,405 ) — (1,405 ) — Total $ (4,004 ) $ 47,031 $ 6,961 $ 41,590 Amount of gain or (loss) reclassified from accumulated other comprehensive income to income: Three Months Ended Six Months Ended Location of gain or (loss) 2019 2018 2019 2018 Foreign currency forward contracts Revenues $ 18,684 $ (12,904 ) $ 28,545 $ (31,319 ) Foreign currency forward contracts Cost of revenues (9,745 ) 6,778 (15,074 ) 16,101 Total $ 8,939 $ (6,126 ) $ 13,471 $ (15,218 ) Amount of gain or (loss) excluded from effectiveness testing included in income: Three Months Ended Six Months Ended Location of gain or (loss) 2019 2018 2019 2018 Foreign currency forward contracts Other income (expense) $ — $ 4,777 $ 88 $ 6,430 Foreign currency option contracts (excluded component) (2) Revenues (17 ) — (17 ) — Total $ (17 ) $ 4,777 $ 71 $ 6,430 (1) Included component represents foreign exchange spot rates. (2) Excluded component represents option's time value.
Schedule of derivatives not designated as hedging instruments in the Company's condensed consolidated statements of operations	The following table presents the effect of derivatives not designated as hedging instruments in the Company's condensed consolidated statements of operations (in thousands): Amount of gain or (loss) recognized in earnings: Three Months Ended Six Months Ended Location of gain or (loss) 2019 2018 2019 2018 Embedded derivatives Revenues $ (185 ) $ 3,909 $ 722 $ 1,464 Economic hedge of embedded derivatives Revenues 598 (1,468 ) 541 (938 ) Foreign currency forward contracts Other income (expense) 10,148 47,796 18,499 43,676 Total $ 10,561 $ 50,237 $ 19,762 $ 44,202
Schedule of derivative instruments recognized in the Company's condensed 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, 2019 and December 31, 2018 (in thousands): June 30, 2019 December 31, 2018 Assets (1) Liabilities (2) Assets (1) Liabilities (2) Designated as hedging instruments: Cash flow hedges Foreign currency forward and option contracts $ 42,781 $ 187 $ 38,606 $ 865 Net investment hedges Cross-currency interest rate swaps 9,377 — — — Total designated as hedging 52,158 187 38,606 865 Not designated as hedging instruments: Embedded derivatives 4,947 1,943 4,656 2,426 Economic hedges of embedded derivatives 1,873 19 525 180 Foreign currency forward contracts 4,021 23,979 29,287 6,269 Total not designated as hedging 10,841 25,941 34,468 8,875 Total Derivatives $ 62,999 $ 26,128 $ 73,074 $ 9,740 (1) As presented in the Company's condensed consolidated balance sheets within other current assets and other assets. (2) As presented in the Company's condensed consolidated balance sheets within other current liabilities and other liabilities.
Schedule of offsetting derivative assets and liabilities	The following table presents information related to these offsetting arrangements as of June 30, 2019 and December 31, 2018 (in thousands): Gross Amounts Offset in Consolidated Balance Sheet Gross Amounts Gross Amounts Offset in the Balance Sheet Net Amounts Gross Amounts not Offset in the Balance Sheet Net June 30, 2019 Derivative assets $ 80,919 $ — $ 80,919 $ (32,248 ) $ 48,671 Derivative liabilities 35,931 — 35,931 (32,248 ) 3,683 December 31, 2018 Derivative assets $ 73,074 $ — $ 73,074 $ (6,517 ) $ 66,557 Derivative liabilities 9,740 — 9,740 (6,517 ) 3,223
Schedule of offsetting derivative assets and liabilities	The following table presents information related to these offsetting arrangements as of June 30, 2019 and December 31, 2018 (in thousands): Gross Amounts Offset in Consolidated Balance Sheet Gross Amounts Gross Amounts Offset in the Balance Sheet Net Amounts Gross Amounts not Offset in the Balance Sheet Net June 30, 2019 Derivative assets $ 80,919 $ — $ 80,919 $ (32,248 ) $ 48,671 Derivative liabilities 35,931 — 35,931 (32,248 ) 3,683 December 31, 2018 Derivative assets $ 73,074 $ — $ 73,074 $ (6,517 ) $ 66,557 Derivative liabilities 9,740 — 9,740 (6,517 ) 3,223

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of financial assets and liabilities measured at fair value on a recurring basis	The Company's financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2019 were as follows (in thousands): Fair Value at Fair Value Measurement Using Level 1 Level 2 Assets: Cash $ 1,039,871 $ 1,039,871 $ — Money market and deposit accounts 573,658 573,658 — Publicly traded equity securities 2,215 2,215 — Certificates of deposit 15,004 — 15,004 Derivative instruments (1) 62,999 — 62,999 Total $ 1,693,747 $ 1,615,744 $ 78,003 Liabilities: Derivative instruments (1) $ 26,128 $ — $ 26,128 (1) 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, 2018 were as follows (in thousands): Fair Value at Fair Value Measurement Using Level 1 Level 2 Assets: Cash $ 486,648 $ 486,648 $ — Money market and deposit accounts 119,518 119,518 — Publicly traded equity securities 1,717 1,717 — Certificates of deposit 2,823 — 2,823 Derivative instruments (1) 73,074 — 73,074 Total $ 683,780 $ 607,883 $ 75,897 Liabilities: Derivative instruments (1) $ 9,740 $ — $ 9,740 (1) 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, 2019
Leases [Abstract]
Components of lease expenses	The components of lease expenses are as follows (in thousands): Three Months Ended June 30, 2019 Six Months Ended Finance lease cost Amortization of right-of-use assets (1) $ 19,811 $ 39,897 Interest on lease liabilities 27,111 54,634 Total finance lease cost 46,922 94,531 Operating lease cost 54,920 106,559 Total lease cost $ 101,842 $ 201,090 (1) Amortization of right-of-use assets is included with depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the condensed consolidated statements of operations.
Other information related to leases	Other information related to leases is as follows (in thousands): Six Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 52,701 Operating cash flows from operating leases 101,875 Financing cash flows from finance leases 43,112 Right-of-use assets obtained in exchange for lease obligations: (1) Finance leases $ 2,597 Operating leases 77,905 As of June 30, 2019 Weighted-average remaining lease term - finance leases (2) 14 years Weighted-average remaining lease term - operating leases (2) 13 years Weighted-average discount rate - finance leases 10 % Weighted-average discount rate - operating leases 4 % (1) Represents all non-cash changes in ROU assets, including the impact of reclassifying finance lease and operating lease ROU assets of $36.9 million and $9.6 million , respectively, to assets held for sale. Refer to Note 5. (2)
Maturities of lease liabilities	Maturities of lease liabilities under Topic 842 as of June 30, 2019 are as follows (in thousands): Operating Leases Finance Leases Total 2019 (6 months remaining) $ 93,232 $ 76,153 $ 169,385 2020 198,629 157,700 356,329 2021 185,623 156,656 342,279 2022 178,060 157,284 335,344 2023 163,424 158,137 321,561 Thereafter 1,184,006 1,563,362 2,747,368 Total lease payments 2,002,974 2,269,292 4,272,266 Plus amount representing residual property value — 19,027 19,027 Less imputed interest (537,714 ) (1,086,549 ) (1,624,263 ) Total $ 1,465,260 $ 1,201,770 $ 2,667,030 For the year ended December 31, 2018, the Company's operating lease, capital lease and other financing obligations under ASC Topic 840 are summarized as follows (in thousands): Capital Lease Obligations Other Financing Obligations (1) Total Capital Lease and Other Financing Obligations Operating Leases 2019 $ 103,859 $ 80,292 $ 184,151 $ 187,280 2020 97,326 73,266 170,592 179,515 2021 95,414 73,672 169,086 166,159 2022 94,954 73,856 168,810 158,115 2023 95,463 69,423 164,886 147,677 Thereafter 878,755 722,496 1,601,251 1,130,494 Total minimum lease payments 1,365,771 1,093,005 2,458,776 1,969,240 Plus amount representing residual property value — 389,643 389,643 — Less amount representing interest (602,026 ) (727,472 ) (1,329,498 ) — Present value of net minimum lease payments 763,745 755,176 1,518,921 1,969,240 Less current portion (43,498 ) (34,346 ) (77,844 ) — Total $ 720,247 $ 720,830 $ 1,441,077 $ 1,969,240 (1) Other financing obligations are primarily related to build-to-suit arrangements.
Maturities of lease liabilities	Maturities of lease liabilities under Topic 842 as of June 30, 2019 are as follows (in thousands): Operating Leases Finance Leases Total 2019 (6 months remaining) $ 93,232 $ 76,153 $ 169,385 2020 198,629 157,700 356,329 2021 185,623 156,656 342,279 2022 178,060 157,284 335,344 2023 163,424 158,137 321,561 Thereafter 1,184,006 1,563,362 2,747,368 Total lease payments 2,002,974 2,269,292 4,272,266 Plus amount representing residual property value — 19,027 19,027 Less imputed interest (537,714 ) (1,086,549 ) (1,624,263 ) Total $ 1,465,260 $ 1,201,770 $ 2,667,030 For the year ended December 31, 2018, the Company's operating lease, capital lease and other financing obligations under ASC Topic 840 are summarized as follows (in thousands): Capital Lease Obligations Other Financing Obligations (1) Total Capital Lease and Other Financing Obligations Operating Leases 2019 $ 103,859 $ 80,292 $ 184,151 $ 187,280 2020 97,326 73,266 170,592 179,515 2021 95,414 73,672 169,086 166,159 2022 94,954 73,856 168,810 158,115 2023 95,463 69,423 164,886 147,677 Thereafter 878,755 722,496 1,601,251 1,130,494 Total minimum lease payments 1,365,771 1,093,005 2,458,776 1,969,240 Plus amount representing residual property value — 389,643 389,643 — Less amount representing interest (602,026 ) (727,472 ) (1,329,498 ) — Present value of net minimum lease payments 763,745 755,176 1,518,921 1,969,240 Less current portion (43,498 ) (34,346 ) (77,844 ) — Total $ 720,247 $ 720,830 $ 1,441,077 $ 1,969,240 (1) Other financing obligations are primarily related to build-to-suit arrangements.

Debt Facilities (Tables)

Debt Facilities (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Summary of debt	As of June 30, 2019 and December 31, 2018 , the Company's senior notes consisted of the following (in thousands): June 30, 2019 December 31, 2018 Amount Effective Rate Amount Effective Rate 5.000% Infomart Senior Notes (1) $ 600,000 4.43 % $ 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 852,600 3.08 % 859,125 3.08 % 5.750% Senior Notes due 2025 500,000 5.88 % 500,000 5.88 % 2.875% Euro Senior Notes due 2025 1,136,800 3.04 % 1,145,500 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 1,136,800 3.04 % 1,145,500 3.04 % 5.375% Senior Notes due 2027 1,250,000 5.51 % 1,250,000 5.51 % 8,326,200 8,500,125 Less amount representing unamortized debt issuance cost (68,936 ) (75,372 ) Add amount representing unamortized debt premium 3,132 5,031 8,260,396 8,429,784 Less current portion (300,929 ) (300,999 ) Total $ 7,959,467 $ 8,128,785 (1) 5.000% Infomart Senior Notes consist of five tranches due in each of April 2019, October 2019, April 2020, October 2020 and April 2021. The effective rate represents the weighted-average effective interest rates of the tranches outstanding at the periods presented in the table above. As of June 30, 2019 and December 31, 2018 , the Company's mortgage and loans payable consisted of the following (in thousands): June 30, December 31, 2018 Term loans $ 1,301,849 $ 1,344,482 Mortgage payable and loans payable 42,392 44,042 1,344,241 1,388,524 Less amount representing unamortized debt discount and debt issuance cost (5,725 ) (6,614 ) Add amount representing unamortized mortgage premium 1,830 1,882 1,340,346 1,383,792 Less current portion (72,795 ) (73,129 ) Total $ 1,267,551 $ 1,310,663
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, 2019 (in thousands): Years ending: 2019 (6 months remaining) $ 186,592 2020 372,978 2021 222,722 2022 1,908,801 2023 1,002,528 Thereafter 5,978,650 Total $ 9,672,271
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, Mortgage and loans payable $ 1,349,302 $ 1,389,632 Senior notes 8,710,218 8,422,211
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 2019 2018 2019 2018 Interest expense $ 120,547 $ 134,673 $ 243,393 $ 260,950 Interest capitalized 5,910 3,484 15,764 6,798 Interest charges incurred $ 126,457 $ 138,157 $ 259,157 $ 267,748

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Schedule of rollforward of stockholders' equity	The following tables provide a rollforward of stockholders' equity for the three and six months ended June 30, 2019 and 2018 (in thousands): AOCI (Loss) Retained Earnings Equinix Stockholders' Equity Non-controlling Interests Total Stockholders' Equity Common Stock Treasury Stock Additional Paid-in Capital Accumulated Shares Amount Shares Amount Balance as of December 31, 2018 81,119,117 $ 81 (396,859 ) $ (145,161 ) $ 10,751,313 $ (3,331,200 ) $ (945,702 ) $ 889,948 $ 7,219,279 $ — $ 7,219,279 Adjustment from adoption of new accounting standard update — — — — — — — (5,973 ) (5,973 ) — (5,973 ) Net income (loss) — — — — — — — 118,078 118,078 (331 ) 117,747 Other comprehensive income — — — — — — 3,337 — 3,337 7 3,344 Issuance of common stock and release of treasury stock for employee equity awards 360,464 — 1,706 360 27,233 — — — 27,593 — 27,593 Issuance of common stock for equity offering 2,985,575 3 — — 1,213,431 — — — 1,213,434 — 1,213,434 Dividend distribution on common stock, $2.46 per share — — — — — (198,933 ) — — (198,933 ) — (198,933 ) Settlement of accrued dividends on vested equity awards — — — — 284 (387 ) — — (103 ) — (103 ) Accrued dividends on unvested equity awards — — — — — (2,395 ) — — (2,395 ) — (2,395 ) Stock-based compensation, net of estimated forfeitures — — — — 50,795 — — — 50,795 — 50,795 Balance as of March 31, 2019 84,465,156 84 (395,153 ) (144,801 ) 12,043,056 (3,532,915 ) (942,365 ) 1,002,053 8,425,112 (324 ) 8,424,788 Net income — — — — — — — 143,527 143,527 325 143,852 Other comprehensive loss — — — — — — (16,078 ) — (16,078 ) (14 ) (16,092 ) Issuance of common stock and release of treasury stock for employee equity awards 26,435 — 359 76 (76 ) — — — — — — Issuance of common stock under ATM Program 722,361 1 — — 348,120 — — — 348,121 — 348,121 Dividend distribution on common stock, $2.46 per share — — — — — (207,949 ) — — (207,949 ) — (207,949 ) Settlement of accrued dividends on vested equity awards — — — — 12 (33 ) — — (21 ) — (21 ) Accrued dividends on unvested equity awards — — — — — (2,972 ) — — (2,972 ) — (2,972 ) AOCI (Loss) Retained Earnings Equinix Stockholders' Equity Non-controlling Interests Total Stockholders' Equity Common Stock Treasury Stock Additional Paid-in Capital Accumulated Shares Amount Shares Amount Stock-based compensation, net of estimated forfeitures — — — — 59,502 — — — 59,502 — 59,502 Balance as of June 30, 2019 85,213,952 $ 85 (394,794 ) $ (144,725 ) $ 12,450,614 $ (3,743,869 ) $ (958,443 ) $ 1,145,580 $ 8,749,242 $ (13 ) $ 8,749,229 Additional Paid-in Capital Accumulated AOCI (Loss) Retained Equinix Common Stock Treasury Stock Shares Amount Shares Amount Balance as of December 31, 2017 79,440,404 $ 79 (402,342 ) $ (146,320 ) $ 10,121,323 $ (2,592,792 ) $ (785,189 ) $ 252,689 $ 6,849,790 Adjustment from adoption of new accounting standard update — — — — — — (2,124 ) 271,900 269,776 Net income — — — — — — — 62,894 62,894 Other comprehensive income — — — — — — 69,144 — 69,144 Issuance of common stock and release of treasury stock for employee equity awards 416,512 1 2,957 625 25,221 — — — 25,847 Dividend distribution on common stock, $2.28 per share — — — — — (180,640 ) — — (180,640 ) Settlement of accrued dividends on vested equity awards — — — — 1,795 (530 ) — — 1,265 Accrued dividends on unvested equity awards — — — — — (2,216 ) — — (2,216 ) Stock-based compensation, net of estimated forfeitures — — — — 44,691 — — — 44,691 Balance as of March 31, 2018 79,856,916 80 (399,385 ) (145,695 ) 10,193,030 (2,776,178 ) (718,169 ) 587,483 7,140,551 Net income — — — — — — — 67,618 67,618 Other comprehensive loss — — — — — — (159,825 ) — (159,825 ) Issuance of common stock and release of treasury stock for employee equity awards 31,068 — 297 63 (50 ) — — — 13 Issuance of common stock under ATM Program 19,100 — — — 8,202 — — — 8,202 Dividend distribution on common stock, $2.28 per share — — — — — (181,207 ) — — (181,207 ) Settlement of accrued dividends on vested equity awards — — — — 103 (43 ) — — 60 Accrued dividends on unvested equity awards — — — — — (2,755 ) — — (2,755 ) Stock-based compensation, net of estimated forfeitures — — — — 51,870 — — — 51,870 Balance as of June 30, 2018 79,907,084 $ 80 (399,088 ) $ (145,632 ) $ 10,253,155 $ (2,960,183 ) $ (877,994 ) $ 655,101 $ 6,924,527
Schedule of changes in 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 Balance as of Foreign currency translation adjustment ("CTA") loss $ (998,603 ) $ (56,585 ) $ (1,055,188 ) Unrealized gain on cash flow hedges (1) 19,480 4,869 24,349 Net investment hedge CTA gain (1) 34,325 38,993 73,318 Net actuarial loss on defined benefit plans (2) (904 ) (18 ) (922 ) Accumulated other comprehensive loss attributable to Equinix $ (945,702 ) $ (12,741 ) $ (958,443 ) (1) Refer to Note 6 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income. (2) 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.
Schedule of stock-based compensation expense by operating expense category	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 2019 2018 2019 2018 Cost of revenues $ 6,500 $ 4,607 $ 11,512 $ 8,506 Sales and marketing 15,157 14,108 28,458 25,814 General and administrative 39,862 31,010 70,572 57,941 Total $ 61,519 $ 49,725 $ 110,542 $ 92,261

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule of revenue information disaggregated by service lines and geographic areas	The following tables present revenue information disaggregated by product lines and geographic areas (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Americas EMEA Asia-Pacific Total Americas EMEA Asia-Pacific Total Colocation (1) $ 444,086 $ 347,795 $ 213,734 $ 1,005,615 $ 884,067 $ 678,920 $ 423,399 $ 1,986,386 Interconnection 142,460 38,614 37,957 219,031 281,023 76,139 74,653 431,815 Managed infrastructure 22,908 28,397 22,467 73,772 44,695 57,485 44,387 146,567 Other (1) 5,352 2,275 — 7,627 11,331 4,774 — 16,105 Recurring revenues 614,806 417,081 274,158 1,306,045 1,221,116 817,318 542,439 2,580,873 Non-recurring revenues 29,614 32,774 16,544 78,932 67,670 67,197 32,455 167,322 Total $ 644,420 $ 449,855 $ 290,702 $ 1,384,977 $ 1,288,786 $ 884,515 $ 574,894 $ 2,748,195 (1) Includes some leasing and hedging activities. 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.
Schedule of Adjusted EBITDA	The Company defines adjusted EBITDA as income from operations excluding depreciation, amortization, accretion, stock-based compensation expense, restructuring charges, impairment charges, acquisition costs and gain on asset sales as presented below (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Adjusted EBITDA: Americas $ 309,052 $ 293,955 $ 616,890 $ 585,504 EMEA 209,645 170,815 408,717 336,993 Asia-Pacific 158,313 139,234 311,558 261,022 Total adjusted EBITDA 677,010 604,004 1,337,165 1,183,519 Depreciation, amortization and accretion expense (320,550 ) (308,828 ) (635,255 ) (615,293 ) Stock-based compensation expense (61,519 ) (49,725 ) (110,542 ) (92,261 ) Impairment charges (386 ) — (14,834 ) — Acquisition costs (2,774 ) (30,413 ) (5,245 ) (35,052 ) Income from operations $ 291,781 $ 215,038 $ 571,289 $ 440,913
Segment Disclosures	The Company also provides the following additional segment disclosures (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Depreciation and amortization: Americas $ 167,244 $ 159,922 $ 334,014 $ 317,500 EMEA 87,980 88,492 172,145 181,772 Asia-Pacific 64,000 58,917 126,243 115,627 Total $ 319,224 $ 307,331 $ 632,402 $ 614,899 Capital expenditures: Americas $ 173,623 $ 200,277 $ 318,118 $ 347,606 EMEA 170,851 222,377 335,206 376,768 Asia-Pacific 99,697 97,585 154,814 145,594 Total $ 444,171 $ 520,239 $ 808,138 $ 869,968
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 $ 5,055,889 $ 5,010,507 EMEA 3,715,307 3,726,596 Asia-Pacific 2,221,544 2,288,917 Total long-lived assets $ 10,992,740 $ 11,026,020

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Narrative (Detail)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Accounting Policies [Abstract]
Effective income tax rate, continuing operations	25.60%	15.00%

Basis of Presentation and Sig_5

Basis of Presentation and Significant Accounting Policies - Effects of Adopting Topic 842 (Details) - USD ($)	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Assets
Other current assets	$ 251,451,000	$ 258,908,000	$ 274,857,000
Property, plant and equipment, net	10,992,740,000	10,732,909,000	11,026,020,000
Operating lease right-of-use assets	1,468,378,000	1,468,762,000	0
Intangible assets, net	2,204,405,000	2,310,091,000	2,333,296,000
Other assets	463,601,000	469,784,000	533,252,000
Liabilities
Current portion of operating lease liabilities	140,733,000	144,405,000	0
Current portion of finance lease liabilities	61,094,000	70,795,000	0
Current portion of capital lease and other financing obligations		0	77,844,000
Other current liabilities	142,461,000	120,540,000	126,995,000
Operating lease liabilities, less current portion	1,324,527,000	1,312,262,000	0
Finance lease liabilities, less current portion	1,140,676,000	1,165,188,000	0
Capital lease and other financing obligations, less current portion		0	1,441,077,000
Other liabilities	560,650,000	541,491,000	629,763,000
Equity
Retained earnings	$ 1,145,580,000	883,975,000	$ 889,948,000
Topic 842
Assets
Other current assets		(15,949,000)
Property, plant and equipment, net		(293,111,000)
Operating lease right-of-use assets		1,468,762,000
Intangible assets, net		(23,205,000)
Other assets		(63,468,000)
Liabilities
Current portion of operating lease liabilities		144,405,000
Current portion of finance lease liabilities		70,795,000
Current portion of capital lease and other financing obligations		(77,844,000)
Other current liabilities		(6,455,000)
Operating lease liabilities, less current portion		1,312,262,000
Finance lease liabilities, less current portion		1,165,188,000
Capital lease and other financing obligations, less current portion		(1,441,077,000)
Other liabilities		(88,272,000)
Equity
Retained earnings		$ (5,973,000)

Revenue - Opening and Closing B

Revenue - Opening and Closing Balances (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 752,680	$ 630,119	$ 630,119
Increase (decrease) in accounts receivables	122,561
Contract asset, current	9,346	9,778
Increase (decrease) in contract asset, current	(432)
Contract asset, non-current	18,883	16,396
Increase (decrease) in contract asset, non-current	2,487
Deferred revenue, current	77,026	73,142
Increase (decrease) in deferred revenue, current	3,884
Deferred revenue, non-current	46,517	$ 46,641
Increase (decrease) in deferred revenue, non-current	$ (124)

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Deferred revenue, revenue recognized	$ 62.6
Revenue, remaining performance obligation	$ 7,600
Revenue, requirement of payment, terms	P24M

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, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Net income	$ 143,852	$ 117,747	$ 67,618		$ 261,599	$ 130,512
Net (income) loss attributable to non-controlling interests	(325)		0		6	0
Net income attributable to Equinix	$ 143,527		$ 67,618	$ 62,894	$ 261,605	$ 130,512
Weighted-average shares used to calculate basic EPS (in shares)	84,399		79,479		83,114	79,361
Effect of dilutive securities:
Employee equity awards (in shares)	368		273		357	385
Weighted-average shares used to calculate diluted EPS (in shares)	84,767		79,752		83,471	79,746
Basic EPS (in dollars per share)	$ 1.70		$ 0.85		$ 3.15	$ 1.64
Diluted EPS (in dollars per share)	$ 1.69		$ 0.85		$ 3.13	$ 1.64

Earnings Per Share - Anti-dilut

Earnings Per Share - Anti-dilutive Potential Shares of Common Stock Excluded from Computation of Earnings Per Share (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Anti-dilutive potential shares of common stock excluded from computation of earnings per share (in shares)	4	220	54	247

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Detail) $ in Thousands, € in Millions, $ in Millions	Apr. 18, 2019EUR (€)	Apr. 18, 2019USD ($)	Apr. 18, 2018AUD ($)metro_areadata_center	Apr. 18, 2018USD ($)metro_areadata_center	Apr. 02, 2018USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2019USD ($)
Business Acquisition [Line Items]
Financing obligations, settled											$ 69,856
Revenues						$ 1,384,977		$ 1,261,943		$ 2,748,195	2,477,820
Net income						143,527		$ 67,618	$ 62,894	261,605	$ 130,512
Switch Datacenters' AMS1 [Member]
Business Acquisition [Line Items]
Cash consideration for acquisition	€ 30.6	$ 34,300
Metronode [Member]
Business Acquisition [Line Items]
Cash consideration for acquisition			$ 1,034	$ 804,600
Data center sites | data_center			10	10
Number of data centers, metro areas | metro_area			6	6
Adjustment in accounting estimate increase (decrease) in deferred tax liabilities							$ (4,200)					$ 31,300
Adjustment in accounting estimate increase (decrease) in goodwill							$ (3,700)					41,600
Adjustment in accounting estimate increase (decrease) in property, plant, and equipment												(10,100)
Adjustment in accounting estimate increase (decrease) in other assets												(10,000)
Adjustment in accounting estimate increase (decrease) in other liabilities												(9,700)
Adjustment in accounting estimate increase (decrease) in deferred tax assets												(4,100)
Adjustment in accounting estimate increase (decrease) in intangible assets												4,800
Metronode [Member] | Customer relationships [Member] | Measurement input, discount rate [Member]
Business Acquisition [Line Items]
Measurement input			0.073	0.073
Infomart Dallas [Member]
Business Acquisition [Line Items]
Cash consideration for acquisition					$ 45,800
Consideration transferred					804,000
Debt instrument, fair value					$ 758,200
Interest rate (percent)					5.00%
Financing obligations, settled					$ 170,300
Other liabilities, settled					1,900
Extinguishment of debt, gain (loss)					$ (19,500)
Adjustment in accounting estimate increase (decrease) in goodwill												(6,200)
Adjustment in accounting estimate increase (decrease) in intangible assets												$ 4,600
Infomart Dallas [Member] | Customer relationships [Member] | Measurement input, discount rate [Member]
Business Acquisition [Line Items]
Measurement input					0.082
Infomart Dallas [Member] | Customer relationships [Member] | Measurement input, royalty rate [Member]
Business Acquisition [Line Items]
Measurement input					0.015
Metronode and Infomart Dallas [Member]
Business Acquisition [Line Items]
Revenues						$ 27,400				54,600
Net income										$ 3,300

Acquisitions - Preliminary Purc

Acquisitions - Preliminary Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Apr. 18, 2018	Apr. 02, 2018
Allocation of purchase price consideration
Goodwill	$ 4,768,880	$ 4,836,388
Metronode [Member]
Allocation of purchase price consideration
Cash and cash equivalents			$ 3,206
Accounts receivable			8,318
Other current assets			9,421
Property, plant, and equipment			297,092
Intangible assets			128,229
Goodwill			410,188
Other assets			44,373
Total assets acquired			900,827
Accounts payable and accrued liabilities			(17,104)
Other current liabilities			(2,038)
Deferred tax liabilities			(31,281)
Other liabilities			(45,851)
Net assets acquired			804,553
Indemnification assets			$ 44,400
Infomart Dallas [Member]
Allocation of purchase price consideration
Cash and cash equivalents				$ 17,432
Accounts receivable				637
Other current assets				395
Property, plant, and equipment				362,023
Intangible assets				65,847
Goodwill				197,378
Other assets				0
Total assets acquired				643,712
Accounts payable and accrued liabilities				(5,056)
Other current liabilities				(2,141)
Deferred tax liabilities				0
Other liabilities				(4,723)
Net assets acquired				$ 631,792

Acquisitions - Intangible Asset

Acquisitions - Intangible Assets (Details) - USD ($) $ in Thousands	Apr. 18, 2018	Apr. 02, 2018
Customer relationships [Member] | Metronode [Member]
Business Acquisition [Line Items]
Fair Value	$ 128,229
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		$ 35,860
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		$ 19,960
Weighted-average Estimated Useful Lives (Years)		6 years 9 months 18 days
In-place leases [Member] | Infomart Dallas [Member] | Minimum [Member]
Business Acquisition [Line Items]
Estimated Useful Lives (Years)		3 years 7 months 6 days
In-place leases [Member] | Infomart Dallas [Member] | Maximum [Member]
Business Acquisition [Line Items]
Estimated Useful Lives (Years)		7 years 6 months
Trade names [Member] | Infomart Dallas [Member]
Business Acquisition [Line Items]
Fair Value		$ 9,552
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		$ 475
Weighted-average Estimated Useful Lives (Years)		7 years
Favorable lease [Member] | Infomart Dallas [Member] | Minimum [Member]
Business Acquisition [Line Items]
Estimated Useful Lives (Years)		3 years 7 months 6 days
Favorable lease [Member] | Infomart Dallas [Member] | Maximum [Member]
Business Acquisition [Line Items]
Estimated Useful Lives (Years)		7 years 6 months

Assets Held for Sale - Narrativ

Assets Held for Sale - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Long Lived Assets Held-for-sale [Line Items]
Impairment charges		$ 386	$ 0	$ 14,834	$ 0
New York 12 [Member] | Held for sale [Member]
Long Lived Assets Held-for-sale [Line Items]
Impairment charges				$ 14,700
Joint Venture [Member] | Equinix, Inc. [Member] | Forecast [Member]
Long Lived Assets Held-for-sale [Line Items]
Ownership interest	20.00%
Joint Venture [Member] | GIC, Singapore Sovereign Wealth Fund [Member] | Forecast [Member]
Long Lived Assets Held-for-sale [Line Items]
Ownership interest	80.00%

Assets Held for Sale - Summary

Assets Held for Sale - Summary of Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Total assets held for sale	$ 353,622	$ 0
Total liabilities held for sale	53,030	$ 0
Held for sale [Member]
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Operating lease right-of-use assets	9,600
Held for sale [Member] | London 10, Paris 8 and other Europe properties, and New York 12 [Member]
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Property, plant and equipment	264,807
Operating lease right-of-use assets	9,557
Goodwill	68,499
Intangible assets	2,669
Deferred tax assets	1,557
Other assets	6,533
Total assets held for sale	353,622
Current portion of operating lease liabilities	667
Current portion of finance lease liabilities	112
Operating lease liabilities, less current portion	9,224
Finance lease liabilities, less current portion	41,709
Deferred tax liabilities	335
Other liabilities	983
Total liabilities held for sale	$ 53,030

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Narrative (Detail) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Net gain (loss) to be reclassified during next 12 months	$ 28.2	$ 21.4
Designated as hedging instruments [Member] | Cross-currency interest rate swap [Member]
Derivative [Line Items]
Derivative, notional amount	750
Not designated as hedging instruments [Member] | Foreign currency forward contract [Member]
Derivative [Line Items]
Derivative, notional amount	1,817.2	1,500.4
Net investment hedges [Member] | Designated as hedging instruments [Member]
Derivative [Line Items]
Derivative, notional amount	4,130.2	4,139.8
Cash flow hedges [Member] | Foreign currency forward and option contracts [Member]
Derivative [Line Items]
Derivative, notional amount	$ 853.2	$ 760.9

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net investment hedges [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income		$ 226,115		$ 151,843
Amount of gain or (loss) recognized in accumulated other comprehensive income	$ (37,857)		$ 38,983
Amount of gain or (loss) excluded from effectiveness testing included in income	4,928		9,091
Amount of gain or (loss) recognized in earnings		0		0
Cash flow hedges [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) excluded from effectiveness testing included in income	(17)		71
Amount of gain or (loss) recognized in earnings		4,777		6,430
Amount of gain or (loss) recognized in accumulated other comprehensive income	(4,004)		6,961
Amount of gain or (loss) recognized in accumulated other comprehensive income		47,031		41,590
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income	8,939		13,471
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income		(6,126)		(15,218)
Foreign currency debt [Member] | Net investment hedges [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income	(34,309)		29,606
Amount of gain or (loss) recognized in accumulated other comprehensive income		226,115		151,843
Cross-currency interest rate swap [Member] | Net investment hedges [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income	(9,689)		5,826
Amount of gain or (loss) recognized in accumulated other comprehensive income		0		0
Cross-currency interest rate swap [Member] | Net investment hedges [Member] | Excluding component [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income		0		0
Amount of gain or (loss) recognized in accumulated other comprehensive income	6,141		3,551
Cross-currency interest rate swap [Member] | Net investment hedges [Member] | Interest expense [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) excluded from effectiveness testing included in income	4,928		9,091
Cross-currency interest rate swap [Member] | Net investment hedges [Member] | Interest expense [Member] | Excluding component [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in earnings		0		0
Foreign currency forward and option contracts [Member] | Cash flow hedges [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income	(2,599)		8,366
Amount of gain or (loss) recognized in accumulated other comprehensive income		47,031		41,590
Foreign currency option contracts [Member] | Cash flow hedges [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income	(1,405)		(1,405)
Amount of gain or (loss) recognized in accumulated other comprehensive income		0		0
Foreign currency option contracts [Member] | Cash flow hedges [Member] | Revenues [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) excluded from effectiveness testing included in income	(17)		(17)
Amount of gain or (loss) recognized in earnings		0		0
Foreign currency forward contract [Member] | Cash flow hedges [Member] | Cost of revenues [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income	(9,745)		(15,074)
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income		6,778		16,101
Foreign currency forward contract [Member] | Cash flow hedges [Member] | Other income (expense) [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) excluded from effectiveness testing included in income	0		88
Amount of gain or (loss) recognized in earnings		4,777		6,430
Foreign currency forward contract [Member] | Cash flow hedges [Member] | Revenues [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income	$ 18,684		$ 28,545
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income		$ (12,904)		$ (31,319)

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	$ 10,561	$ 50,237	$ 19,762	$ 44,202
Embedded derivatives [Member] | Revenues [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	(185)	3,909	722	1,464
Economic hedge of embedded derivatives [Member] | Revenues [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	598	(1,468)	541	(938)
Foreign currency forward contract [Member] | Other income (expense) [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	$ 10,148	$ 47,796	$ 18,499	$ 43,676

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities - Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	$ 62,999	$ 73,074
Derivative liabilities	26,128	9,740
Designated as hedging instruments [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	52,158	38,606
Derivative liabilities	187	865
Designated as hedging instruments [Member] | Foreign currency forward contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	42,781	38,606
Derivative liabilities	187	865
Designated as hedging instruments [Member] | Cross-currency interest rate swap [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	9,377	0
Derivative liabilities	0	0
Not designated as hedging instruments [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	10,841	34,468
Derivative liabilities	25,941	8,875
Not designated as hedging instruments [Member] | Foreign currency forward contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	4,021	29,287
Derivative liabilities	23,979	6,269
Not designated as hedging instruments [Member] | Embedded derivatives [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	4,947	4,656
Derivative liabilities	1,943	2,426
Not designated as hedging instruments [Member] | Economic hedge of embedded derivatives [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	1,873	525
Derivative liabilities	$ 19	$ 180

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities - Offsetting Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Derivative assets
Gross Amounts	$ 80,919	$ 73,074
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts	80,919	73,074
Gross Amounts not Offset in the Balance Sheet	(32,248)	(6,517)
Net	48,671	66,557
Derivative liabilities
Gross Amounts	35,931	9,740
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts	35,931	9,740
Gross Amounts not Offset in the Balance Sheet	(32,248)	(6,517)
Net	$ 3,683	$ 3,223

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets:
Publicly traded equity securities	$ 2,215	$ 1,717
Derivative instruments	62,999	73,074
Total financial assets	1,693,747	683,780
Liabilities:
Derivative instruments	26,128	9,740
Cash [Member]
Assets:
Cash and cash equivalents	1,039,871	486,648
Money market and deposit accounts [Member]
Assets:
Cash and cash equivalents	573,658	119,518
Certificates of deposit [Member]
Assets:
Cash and cash equivalents	15,004	2,823
Fair value, inputs, Level 1 [Member]
Assets:
Publicly traded equity securities	2,215	1,717
Derivative instruments	0	0
Total financial assets	1,615,744	607,883
Liabilities:
Derivative instruments	0	0
Fair value, inputs, Level 1 [Member] | Cash [Member]
Assets:
Cash and cash equivalents	1,039,871	486,648
Fair value, inputs, Level 1 [Member] | Money market and deposit accounts [Member]
Assets:
Cash and cash equivalents	573,658	119,518
Fair value, inputs, Level 1 [Member] | Certificates of deposit [Member]
Assets:
Cash and cash equivalents	0	0
Fair value, inputs, Level 2 [Member]
Assets:
Publicly traded equity securities	0	0
Derivative instruments	62,999	73,074
Total financial assets	78,003	75,897
Liabilities:
Derivative instruments	26,128	9,740
Fair value, inputs, Level 2 [Member] | Cash [Member]
Assets:
Cash and cash equivalents	0	0
Fair value, inputs, Level 2 [Member] | Money market and deposit accounts [Member]
Assets:
Cash and cash equivalents	0	0
Fair value, inputs, Level 2 [Member] | Certificates of deposit [Member]
Assets:
Cash and cash equivalents	$ 15,004	$ 2,823

Leases - Narrative (Detail)

Leases - Narrative (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2019HKD ($)	Jun. 30, 2019USD ($)	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Lessee, Lease, Description [Line Items]
Operating Lease, Liability		$ 1,465,260,000
Operating lease right-of-use assets		1,468,378,000	$ 1,468,762,000	$ 0
Lease liability		260,300,000
Hong Kong 4 Data Center [Member]
Lessee, Lease, Description [Line Items]
Operating Lease, Liability	$ 317.3	40,600,000
Operating lease right-of-use assets	$ 317.3	40,600,000
Property, plant and equipment [Member]
Lessee, Lease, Description [Line Items]
Right-of-use asset, finance lease		968,200,000
Finance lease, amortization		$ 449,400,000
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lease not yet commenced, remaining lease term	5 years
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lease not yet commenced, remaining lease term	29 years

Leases - Lease Expenses (Detail

Leases - Lease Expenses (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Finance lease cost
Amortization of right-of-use assets	$ 19,811	$ 39,897
Interest on lease liabilities	27,111	54,634
Total finance lease cost	46,922	94,531
Operating lease cost	54,920	106,559
Total lease cost	$ 101,842	$ 201,090

Leases - Other Information (Det

Leases - Other Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Cash Flow, Lessee [Abstract]
Operating cash flows from finance leases	$ 52,701
Operating cash flows from operating leases	101,875
Financing cash flows from finance leases	43,112
Right-of-use assets obtained in exchange for lease obligations
Finance leases	2,597
Operating leases	$ 77,905
Weighted-average remaining lease term - finance leases	14 years
Weighted-average remaining lease term - operating leases	13 years
Weighted-average discount rate - finance leases	10.00%
Weighted-average discount rate - operating leases	4.00%
Held for sale [Member]
Long Lived Assets Held-for-sale [Line Items]
Financing lease right-of-use assets	$ 36,900
Operating lease right-of-use assets	$ 9,600

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Detail) - USD ($)	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating Leases
2019 (6 months remaining)	$ 93,232,000
2020	198,629,000
2021	185,623,000
2023	178,060,000
2023	163,424,000
Thereafter	1,184,006,000
Total lease payments	2,002,974,000
Plus amount representing residual property value	0
Less imputed interest	(537,714,000)
Total	1,465,260,000
Finance Leases
2019 (6 months remaining)	76,153,000
2020	157,700,000
2021	156,656,000
2022	157,284,000
2023	158,137,000
Thereafter	1,563,362,000
Total lease payments	2,269,292,000
Plus amount representing residual property value	19,027,000
Less imputed interest	(1,086,549,000)
Total	1,201,770,000
Total
2019 (6 months remaining)	169,385,000
2020	356,329,000
2021	342,279,000
2022	335,344,000
2023	321,561,000
Thereafter	2,747,368,000
Total lease payments	4,272,266,000
Plus amount representing residual property value	19,027,000
Less imputed interest	(1,624,263,000)
Total	$ 2,667,030,000
Total Capital Lease and Other Financing Obligations
Less current portion		$ 0	$ (77,844,000)
Total		$ 0	1,441,077,000
Operating Leases
2019			187,280,000
2020			179,515,000
2021			166,159,000
2022			158,115,000
2023			147,677,000
Thereafter			1,130,494,000
Total minimum lease payments			1,969,240,000
Capital Lease Obligations [Member]
Total Capital Lease and Other Financing Obligations
2019			103,859,000
2020			97,326,000
2021			95,414,000
2022			94,954,000
2023			95,463,000
Thereafter			878,755,000
Total minimum lease payments			1,365,771,000
Plus amount representing residual property value			0
Less amount representing interest			(602,026,000)
Present value of net minimum lease payments			763,745,000
Less current portion			(43,498,000)
Total			720,247,000
Other Financing Obligations [Member]
Total Capital Lease and Other Financing Obligations
2019			80,292,000
2020			73,266,000
2021			73,672,000
2022			73,856,000
2023			69,423,000
Thereafter			722,496,000
Total minimum lease payments			1,093,005,000
Plus amount representing residual property value			389,643,000
Less amount representing interest			(727,472,000)
Present value of net minimum lease payments			755,176,000
Less current portion			(34,346,000)
Total			720,830,000
Capital Lease and Other Financing Obligations Total [Member]
Total Capital Lease and Other Financing Obligations
2019			184,151,000
2020			170,592,000
2021			169,086,000
2022			168,810,000
2023			164,886,000
Thereafter			1,601,251,000
Total minimum lease payments			2,458,776,000
Plus amount representing residual property value			389,643,000
Less amount representing interest			(1,329,498,000)
Present value of net minimum lease payments			1,518,921,000
Less current portion			(77,844,000)
Total			$ 1,441,077,000

Debt Facilities - Mortgage and

Debt Facilities - Mortgage and Loans Payable (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long term debt, gross	$ 1,344,241	$ 1,388,524
Less the amount representing debt discount and debt issuance cost	(5,725)	(6,614)
Add amount representing unamortized mortgage premium	1,830	1,882
Loans payable current and non current	1,340,346	1,383,792
Less current portion	(72,795)	(73,129)
Loans payable, noncurrent	1,267,551	1,310,663
Term loans [Member]
Debt Instrument [Line Items]
Long term debt, gross	1,301,849	1,344,482
Mortgage payable and other loans payable [Member]
Debt Instrument [Line Items]
Long term debt, gross	$ 42,392	$ 44,042

Debt Facilities - Senior Notes

Debt Facilities - Senior Notes (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long term debt, gross	$ 1,344,241	$ 1,388,524
Add amount representing unamortized debt premium	1,830	1,882
Total long term debt	9,672,271
Senior Notes [Member]
Debt Instrument [Line Items]
Long term debt, gross	8,326,200	8,500,125
Less amount representing unamortized debt issuance cost	(68,936)	(75,372)
Add amount representing unamortized debt premium	3,132	5,031
Total long term debt	8,260,396	8,429,784
Less current portion	(300,929)	(300,999)
Total	$ 7,959,467	8,128,785
Senior Notes [Member] | 5.000% Infomart Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate (percent)	5.00%
Long term debt, gross	$ 600,000	$ 750,000
Effective interest rate	4.43%	4.40%
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%
Long term debt, gross	$ 852,600	$ 859,125
Effective interest rate	3.08%	3.08%
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	$ 1,136,800	$ 1,145,500
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	$ 1,136,800	$ 1,145,500
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 - Summary of Ma

Debt Facilities - Summary of Maturities of Debt Instruments (Detail) $ in Thousands	Jun. 30, 2019USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2019 (6 months remaining)	$ 186,592
2020	372,978
2021	222,722
2022	1,908,801
2023	1,002,528
Thereafter	5,978,650
Total long term debt	$ 9,672,271

Debt Facilities - Fair Value of

Debt Facilities - Fair Value of Debt Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Mortgage and loans payable	$ 1,349,302	$ 1,389,632
Senior notes	$ 8,710,218	$ 8,422,211
Senior Notes [Member] | 5.000% Infomart Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate (percent)	5.00%

Debt Facilities - Interest Char

Debt Facilities - Interest Charges (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Debt Disclosure [Abstract]
Interest expense	$ 120,547	$ 134,673	$ 243,393	$ 260,950
Interest capitalized	5,910	3,484	15,764	6,798
Interest charges incurred	126,457	138,157	259,157	267,748
Interest paid, net of capitalized interest	$ 107,400	$ 111,600	$ 243,600	$ 215,300

Commitments and Contingencies (

Commitments and Contingencies (Detail) $ in Billions	Jun. 30, 2019USD ($)
Capital expenditures [Member]
Other Commitments [Line Items]
Purchase commitments	$ 0.9
Miscellaneous purchase commitments [Member]
Other Commitments [Line Items]
Purchase commitments	$ 1

Stockholders' Equity - Rollforw

Stockholders' Equity - Rollforward (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended				6 Months Ended
	Mar. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Jan. 01, 2019	Jan. 01, 2018
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			80,722,258			80,722,258
Beginning balance		$ 8,424,788	$ 7,219,279			$ 7,219,279
Beginning balance			7,219,279	$ 7,140,551	$ 6,849,790	7,219,279	$ 6,849,790
Adjustment from adoption of new accounting standard update								$ (5,973)	$ 269,776
Net income (loss)		143,852	117,747	67,618		261,599	130,512
Net income		143,527		67,618	62,894	261,605	130,512
Other comprehensive income		(16,092)	3,344	(159,825)	69,144	$ (12,748)	(90,681)
Issuance of common stock for equity offering		0	27,593	13	25,847
Issuance of common stock (in shares)	2,985,575
Issuance of common stock	$ 1,213,400		1,213,434
Dividend distribution on common stock (in dollars per share)		(207,949)	(198,933)	(181,207)	(180,640)
Settlement of accrued dividends on vested equity awards		(21)	(103)	60	1,265
Accrued dividends on unvested equity awards		(2,972)	(2,395)	(2,755)	(2,216)
Stock-based compensation, net of estimated forfeitures		$ 59,502	50,795	51,870	44,691
Ending balance (in shares)		84,819,158				84,819,158
Ending balance	$ 8,424,788	$ 8,749,229	$ 8,424,788			$ 8,749,229
Ending balance		8,749,242		6,924,527	$ 7,140,551	$ 8,749,242	$ 6,924,527
ATM Program [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock		$ 348,121		$ 8,202
Common Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)		84,465,156	81,119,117	79,856,916	79,440,404	81,119,117	79,440,404
Beginning balance		$ 84	$ 81			$ 81
Beginning balance				$ 80	$ 79		$ 79
Issuance of common stock for equity offering (in shares)		26,435	360,464	31,068	416,512
Issuance of common stock for equity offering				$ 0	$ 1
Issuance of common stock (in shares)			2,985,575
Issuance of common stock			$ 3
Ending balance (in shares)	84,465,156	85,213,952	84,465,156	79,907,084	79,856,916	85,213,952	79,907,084
Ending balance	$ 84	$ 85	$ 84			$ 85
Ending balance				$ 80	$ 80		$ 80
Common Stock [Member] | ATM Program [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		722,361		19,100
Issuance of common stock		$ 1		$ 0
Treasury Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)		(395,153)	(396,859)	(399,385)	(402,342)	(396,859)	(402,342)
Beginning balance		$ (144,801)	$ (145,161)			$ (145,161)
Beginning balance				$ (145,695)	$ (146,320)		$ (146,320)
Issuance of common stock for equity offering (in shares)		359	1,706	297	2,957
Issuance of common stock for equity offering		$ 76	$ 360	$ 63	$ 625
Ending balance (in shares)	(395,153)	(394,794)	(395,153)	(399,088)	(399,385)	(394,794)	(399,088)
Ending balance	$ (144,801)	$ (144,725)	$ (144,801)			$ (144,725)
Ending balance				$ (145,632)	$ (145,695)		$ (145,632)
Additional Paid-in Capital [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		12,043,056	10,751,313			10,751,313
Beginning balance				10,193,030	10,121,323		10,121,323
Issuance of common stock for equity offering		(76)	27,233	(50)	25,221
Issuance of common stock			1,213,431
Settlement of accrued dividends on vested equity awards		12	284	103	1,795
Stock-based compensation, net of estimated forfeitures		59,502	50,795	51,870	44,691
Ending balance	12,043,056	12,450,614	12,043,056			12,450,614
Ending balance				10,253,155	10,193,030		10,253,155
Additional Paid-in Capital [Member] | ATM Program [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock		348,120		8,202
Accumulated Dividends [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		(3,532,915)	(3,331,200)			(3,331,200)
Beginning balance				(2,776,178)	(2,592,792)		(2,592,792)
Dividend distribution on common stock (in dollars per share)		(207,949)	(198,933)	(181,207)	(180,640)
Settlement of accrued dividends on vested equity awards		(33)	(387)	(43)	(530)
Accrued dividends on unvested equity awards		(2,972)	(2,395)	(2,755)	(2,216)
Ending balance	(3,532,915)	(3,743,869)	(3,532,915)			(3,743,869)
Ending balance				(2,960,183)	(2,776,178)		(2,960,183)
AOCI (Loss) [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		(942,365)	(945,702)			(945,702)
Beginning balance			(945,702)	(718,169)	(785,189)	(945,702)	(785,189)
Adjustment from adoption of new accounting standard update									(2,124)
Other comprehensive income		(16,078)	3,337	(159,825)	69,144
Ending balance	(942,365)	(958,443)	(942,365)			(958,443)
Ending balance		(958,443)		(877,994)	(718,169)	(958,443)	(877,994)
Retained Earnings [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		1,002,053	889,948			889,948
Beginning balance				587,483	252,689		252,689
Adjustment from adoption of new accounting standard update								(5,973)	$ 271,900
Net income (loss)		143,527	118,078
Net income				67,618	62,894
Ending balance	1,002,053	1,145,580	1,002,053			1,145,580
Ending balance				$ 655,101	$ 587,483		$ 655,101
Equinix Stockholders' Equity [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		8,425,112	7,219,279			7,219,279
Adjustment from adoption of new accounting standard update								$ (5,973)
Net income (loss)		143,527	118,078
Other comprehensive income		(16,078)	3,337
Issuance of common stock for equity offering		0	27,593
Issuance of common stock			1,213,434
Dividend distribution on common stock (in dollars per share)		(207,949)	(198,933)
Settlement of accrued dividends on vested equity awards		(21)	(103)
Accrued dividends on unvested equity awards		(2,972)	(2,395)
Stock-based compensation, net of estimated forfeitures		59,502	50,795
Ending balance	8,425,112	8,749,242	8,425,112			8,749,242
Equinix Stockholders' Equity [Member] | ATM Program [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock		348,121
Noncontrolling Interests [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		(324)	0			0
Net income (loss)		325	(331)
Other comprehensive income		(14)	7
Ending balance	$ (324)	$ (13)	$ (324)			$ (13)

Stockholders' Equity - Rollfo_2

Stockholders' Equity - Rollforward - Additional Information (Details) - $ / shares	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018
Equity [Abstract]
Dividend distribution on common stock (in dollars per share)	$ 2.46	$ 2.46	$ 2.28	$ 2.28

Stockholders' Equity - Componen

Stockholders' Equity - Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		$ 7,140,551	$ 7,219,279	$ 6,849,790
Foreign currency translation adjustment (CTA) loss	$ 25,127	(421,233)	(56,592)	(275,382)
Unrealized gain on cash flow hedges	(3,355)		4,869
Net investment hedge CTA gain	(37,857)	226,115	38,993	153,480
Net actuarial loss on defined benefit plans	7	(13)	18	(21)
Accumulated other comprehensive loss attributable to Equinix	127,760	(92,207)	248,851	39,831
Ending balance	8,749,242	6,924,527	8,749,242	6,924,527
Foreign currency translation adjustment (“CTA”) loss [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(998,603)
Foreign currency translation adjustment (CTA) loss			(56,585)
Ending balance	(1,055,188)		(1,055,188)
Unrealized loss on cash flow hedges [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			19,480
Unrealized loss on cash flow hedges [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Unrealized gain on cash flow hedges			4,869
Ending balance	24,349		24,349
Net investment hedge CTA gain (loss) [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			34,325
Net investment hedge CTA gain			38,993
Ending balance	73,318		73,318
Net actuarial gain (loss) on defined benefit plans [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(904)
Net actuarial loss on defined benefit plans			18
Ending balance	(922)		(922)
Accumulated other comprehensive loss attributable to Equinix [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		(718,169)	(945,702)	(785,189)
Accumulated other comprehensive loss attributable to Equinix			(12,741)
Ending balance	$ (958,443)	$ (877,994)	$ (958,443)	$ (877,994)

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Detail) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Mar. 31, 2019	Mar. 31, 2019	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Aug. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock in public offering of common stock (in shares)	2,985,575
Issuance of common stock in public offering of common stock	$ 1,213,400,000	$ 1,213,434,000
Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, approved (in shares)			697,174
Weighted-average grant date fair value (in dollars per share)			$ 434.17
Service period (in years)			3 years 7 months 28 days
2017 ATM Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock in public offering of common stock (in shares)				19,100
Issuance of common stock in public offering of common stock				$ 7,600,000
Sale of stock, remaining available for sale (in shares)					0
Sale of stock, equity offering agreement, authorized						$ 750,000,000
2018 ATM Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock in public offering of common stock (in shares)			722,361
Issuance of common stock in public offering of common stock			$ 348,200,000
Sale of stock, equity offering agreement, authorized					$ 750,000,000

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, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 61,519	$ 49,725	$ 110,542	$ 92,261
Cost of revenues [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	6,500	4,607	11,512	8,506
Sales and marketing [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	15,157	14,108	28,458	25,814
General and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 39,862	$ 31,010	$ 70,572	$ 57,941

Segment Information - Additiona

Segment Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2019segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Information - Revenue I

Segment Information - Revenue Information on Services Basis (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue from External Customer [Line Items]
Revenue	$ 1,384,977	$ 1,261,943	$ 2,748,195	$ 2,477,820
Recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	1,306,045	1,187,749	2,580,873	2,338,378
Recurring Revenues [Member] | Colocation [Member]
Revenue from External Customer [Line Items]
Revenue	1,005,615	913,585	1,986,386	1,794,969
Recurring Revenues [Member] | Interconnection [Member]
Revenue from External Customer [Line Items]
Revenue	219,031	197,613	431,815	392,612
Recurring Revenues [Member] | Managed infrastructure services [Member]
Revenue from External Customer [Line Items]
Revenue	73,772	69,207	146,567	140,608
Recurring Revenues [Member] | Other [Member]
Revenue from External Customer [Line Items]
Revenue	7,627	7,344	16,105	10,189
Non-recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	78,932	74,194	167,322	139,442
Americas [Member]
Revenue from External Customer [Line Items]
Revenue	644,420	618,275	1,288,786	1,220,902
Americas [Member] | Recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	614,806	588,887	1,221,116	1,164,879
Americas [Member] | Recurring Revenues [Member] | Colocation [Member]
Revenue from External Customer [Line Items]
Revenue	444,086	433,895	884,067	861,020
Americas [Member] | Recurring Revenues [Member] | Interconnection [Member]
Revenue from External Customer [Line Items]
Revenue	142,460	131,720	281,023	260,973
Americas [Member] | Recurring Revenues [Member] | Managed infrastructure services [Member]
Revenue from External Customer [Line Items]
Revenue	22,908	18,292	44,695	36,827
Americas [Member] | Recurring Revenues [Member] | Other [Member]
Revenue from External Customer [Line Items]
Revenue	5,352	4,980	11,331	6,059
Americas [Member] | Non-recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	29,614	29,388	67,670	56,023
EMEA [Member]
Revenue from External Customer [Line Items]
Revenue	449,855	383,168	884,515	762,798
EMEA [Member] | Recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	417,081	359,582	817,318	715,072
EMEA [Member] | Recurring Revenues [Member] | Colocation [Member]
Revenue from External Customer [Line Items]
Revenue	347,795	293,518	678,920	581,579
EMEA [Member] | Recurring Revenues [Member] | Interconnection [Member]
Revenue from External Customer [Line Items]
Revenue	38,614	33,969	76,139	68,946
EMEA [Member] | Recurring Revenues [Member] | Managed infrastructure services [Member]
Revenue from External Customer [Line Items]
Revenue	28,397	29,731	57,485	60,417
EMEA [Member] | Recurring Revenues [Member] | Other [Member]
Revenue from External Customer [Line Items]
Revenue	2,275	2,364	4,774	4,130
EMEA [Member] | Non-recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	32,774	23,586	67,197	47,726
Asia-Pacific [Member]
Revenue from External Customer [Line Items]
Revenue	290,702	260,500	574,894	494,120
Asia-Pacific [Member] | Recurring Revenues [Member]
Revenue from External Customer [Line Items]
Revenue	274,158	239,280	542,439	458,427
Asia-Pacific [Member] | Recurring Revenues [Member] | Colocation [Member]
Revenue from External Customer [Line Items]
Revenue	213,734	186,172	423,399	352,370
Asia-Pacific [Member] | Recurring Revenues [Member] | Interconnection [Member]
Revenue from External Customer [Line Items]
Revenue	37,957	31,924	74,653	62,693
Asia-Pacific [Member] | Recurring Revenues [Member] | Managed infrastructure services [Member]
Revenue from External Customer [Line Items]
Revenue	22,467	21,184	44,387	43,364
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	$ 16,544	$ 21,220	$ 32,455	$ 35,693

Segment Information - Schedule

Segment Information - Schedule of Adjusted EBITDA (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Total adjusted EBITDA	$ 677,010	$ 604,004	$ 1,337,165	$ 1,183,519
Depreciation, amortization and accretion expense	(320,550)	(308,828)	(635,255)	(615,293)
Stock-based compensation expense	(61,519)	(49,725)	(110,542)	(92,261)
Impairment charges	(386)	0	(14,834)	0
Acquisition costs	(2,774)	(30,413)	(5,245)	(35,052)
Income from operations	291,781	215,038	571,289	440,913
Americas [Member]
Segment Reporting Information [Line Items]
Total adjusted EBITDA	309,052	293,955	616,890	585,504
EMEA [Member]
Segment Reporting Information [Line Items]
Total adjusted EBITDA	209,645	170,815	408,717	336,993
Asia-Pacific [Member]
Segment Reporting Information [Line Items]
Total adjusted EBITDA	$ 158,313	$ 139,234	$ 311,558	$ 261,022

Segment Information - Segment D

Segment Information - Segment Disclosures (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Total depreciation and amortization	$ 319,224	$ 307,331	$ 632,402	$ 614,899
Capital expenditures	444,171	520,239	808,138	869,968
Americas [Member]
Segment Reporting Information [Line Items]
Total depreciation and amortization	167,244	159,922	334,014	317,500
Capital expenditures	173,623	200,277	318,118	347,606
EMEA [Member]
Segment Reporting Information [Line Items]
Total depreciation and amortization	87,980	88,492	172,145	181,772
Capital expenditures	170,851	222,377	335,206	376,768
Asia-Pacific [Member]
Segment Reporting Information [Line Items]
Total depreciation and amortization	64,000	58,917	126,243	115,627
Capital expenditures	$ 99,697	$ 97,585	$ 154,814	$ 145,594

Segment Information - Long-Live

Segment Information - Long-Lived Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	$ 10,992,740	$ 10,732,909	$ 11,026,020
Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	5,055,889		5,010,507
EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	3,715,307		3,726,596
Asia-Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	$ 2,221,544		$ 2,288,917

Subsequent Events (Detail)

Subsequent Events (Detail)	Jul. 31, 2019$ / shares
Subsequent event [Member]
Subsequent Event [Line Items]
Cash dividends declared (in dollars per share)	$ 2.46