Equinix (EQIX) 10-Q 30 Apr 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	Apr. 29, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
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
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		89,579,906
Entity Central Index Key	0001101239
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock, $0.001
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.001
Trading Symbol	EQIX
Security Exchange Name	NASDAQ
0.250% Senior Notes due 2027
Document Information [Line Items]
Title of 12(b) Security	0.250% Senior Notes due 2027
Security Exchange Name	NASDAQ
No Trading Symbol Flag	true
1.000% Senior Notes due 2033
Document Information [Line Items]
Title of 12(b) Security	1.000% Senior Notes due 2033
Security Exchange Name	NASDAQ
No Trading Symbol Flag	true

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,752,990	$ 1,604,869
Short-term investments	4,229	4,532
Accounts receivable, net of allowance of $10,641 and $10,677	684,642	676,738
Other current assets	407,856	323,016
Total current assets	2,849,717	2,609,155
Property, plant and equipment, net	14,768,661	14,503,084
Operating lease right-of-use assets	1,405,835	1,475,057
Goodwill	5,387,601	5,472,553
Intangible assets, net	2,092,253	2,170,945
Other assets	812,923	776,047
Total assets	27,316,990	27,006,841
Current liabilities:
Accounts payable and accrued expenses	742,300	844,862
Accrued property, plant and equipment	351,634	301,155
Current portion of operating lease liabilities	147,164	154,207
Current portion of finance lease liabilities	149,388	137,683
Current portion of mortgage and loans payable	79,902	82,289
Current portion of senior notes	150,003	150,186
Other current liabilities	213,189	354,368
Total current liabilities	1,833,580	2,024,750
Operating lease liabilities, less current portion	1,252,566	1,308,627
Finance lease liabilities, less current portion	1,912,507	1,784,816
Mortgage and loans payable, less current portion	1,229,073	1,287,254
Senior notes, less current portion	9,685,361	9,018,277
Other liabilities	827,228	948,999
Total liabilities	16,740,315	16,372,723
Commitments and contingencies (Note 10)
Equinix stockholders' equity
Common stock, $0.001 par value per share: 300,000,000 shares authorized; 89,890,922 issued and 89,574,510 outstanding in 2021 and 89,462,304 issued and 89,134,252 outstanding in 2020	90	89
Additional paid-in capital	15,166,407	15,028,357
Treasury stock, at cost; 316,412 shares in 2021 and 328,052 shares in 2020	(117,786)	(122,118)
Accumulated dividends	(5,379,693)	(5,119,274)
Accumulated other comprehensive loss	(1,008,848)	(913,368)
Retained earnings	1,916,664	1,760,302
Total Equinix stockholders' equity	10,576,834	10,633,988
Non-controlling interests	(159)	130
Total stockholders' equity	10,576,675	10,634,118
Total liabilities and stockholders' equity	$ 27,316,990	$ 27,006,841

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 10,641	$ 10,677
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common sock, shares authorized (shares)	300,000,000	300,000,000
Common stock, shares issued (shares)	89,890,922	89,462,304
Common stock, shares outstanding (shares)	89,574,510	89,134,252
Treasury stock (shares)	316,412	328,052

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenues	$ 1,596,064	$ 1,444,542
Costs and operating expenses:
Cost of revenues	811,217	736,282
Sales and marketing	182,827	180,450
General and administrative	301,456	261,597
Transaction costs	1,182	11,530
Loss on asset sales	1,720	1,199
Total costs and operating expenses	1,298,402	1,191,058
Income from operations	297,662	253,484
Interest income	729	4,273
Interest expense	(89,681)	(107,338)
Other income (expense)	(6,950)	5,170
Loss on debt extinguishment	(13,058)	(6,441)
Income before income taxes	188,702	149,148
Income tax expense	(32,628)	(30,191)
Net income	156,074	118,957
Net (income) loss attributable to non-controlling interests	288	(165)
Net income attributable to Equinix	$ 156,362	$ 118,792
Earnings per share ("EPS") attributable to Equinix:
Basic EPS (in dollars per share)	$ 1.75	$ 1.39
Weighted-average shares for basic EPS (in shares)	89,330	85,551
Diluted EPS (in dollars per share)	$ 1.74	$ 1.38
Weighted-average shares for diluted EPS (in shares)	89,842	86,144

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 156,074	$ 118,957
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment ("CTA") loss, net of tax effects of $0 and $0	(295,146)	(413,792)
Net investment hedge CTA gain, net of tax effect of $0 and $0	170,175	144,946
Unrealized gain (loss) on cash flow hedges, net of tax effects of $(7,892) and $(6,367)	29,478	(3,256)
Net actuarial gain on defined benefit plans, net of tax effects of $(5) and $9	12	35
Total other comprehensive loss, net of tax	(95,481)	(272,067)
Comprehensive income (loss), net of tax	60,593	(153,110)
Net (income) loss attributable to non-controlling interests	288	(165)
Other comprehensive loss attributable to non-controlling interests	1	11
Comprehensive income (loss) attributable to Equinix	$ 60,882	$ (153,264)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment (CTA) gain (loss), tax	$ 0	$ 0
Net investment hedge CTA gain (loss) tax effect	0	0
Unrealized gain (loss) on cash flow hedges, tax	(7,892)	(6,367)
Net actuarial gain on defined benefit plans, tax	$ (5)	$ 9

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income	$ 156,074	$ 118,957
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	341,622	287,378
Stock-based compensation	78,350	64,499
Amortization of intangible assets	53,395	48,491
Amortization of debt issuance costs and debt discounts and premiums	3,940	3,460
Provision for credit loss allowance	2,740	3,934
Loss on asset sales	1,720	1,199
Loss on debt extinguishment	13,058	6,441
Other items	7,743	4,484
Changes in operating assets and liabilities:
Accounts receivable	(17,620)	15,306
Income taxes, net	(10,274)	3,697
Other assets	(73,255)	(101,882)
Operating lease right-of-use assets	40,924	38,797
Operating lease liabilities	(36,563)	(35,193)
Accounts payable and accrued expenses	(76,362)	(25,681)
Other liabilities	(94,334)	82,943
Net cash provided by operating activities	391,158	516,830
Cash flows from investing activities:
Purchases of investments	(22,406)	(44,813)
Sales of investments	4,057	5,873
Business acquisitions, net of cash and restricted cash acquired	0	(478,287)
Purchases of real estate	(53,737)	(36,373)
Purchases of other property, plant and equipment	(563,598)	(400,941)
Net cash used in investing activities	(635,684)	(954,541)
Cash flows from financing activities:
Proceeds from employee equity awards	40,034	30,391
Payment of dividends	(263,039)	(233,479)
Proceeds from public offering of common stock, net of issuance costs	0	101,792
Proceeds from senior notes, net of debt discounts	1,290,752	0
Proceeds from mortgage and loans payable	0	250,000
Repayments of finance lease liabilities	(32,584)	(18,977)
Repayments of mortgage and loans payable	(20,186)	(18,501)
Repayment of senior notes	(590,650)	(343,711)
Debt extinguishment costs	(8,521)	(4,619)
Debt issuance costs	(3,152)	0
Net cash provided by (used in) financing activities	412,654	(237,104)
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash	(22,019)	(25,287)
Net increase in cash, cash equivalents and restricted cash	146,109	(700,102)
Cash, cash equivalents and restricted cash at beginning of period	1,625,695	1,886,613
Cash, cash equivalents and restricted cash at end of period	1,771,804	1,186,511
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows	$ 1,771,804	$ 1,186,511

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
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. (collectively with its consolidated subsidiaries referred to as "Equinix," the "Company," "we," "our," or "us") 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. In the preparation of our condensed consolidated financial statements, we have considered potential impacts of the COVID-19 pandemic on our critical and significant accounting estimates. There was no significant impact to our condensed consolidated financial statements. We will continue to evaluate the nature and extent of the potential impacts to our business and our condensed consolidated financial statements. Our condensed consolidated balance sheet data as of December 31, 2020 has been derived from audited consolidated financial statements as of that date. Our 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 our Form 10-K as filed with the SEC on February 19, 2021. 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 our acquisitions of 12 data center sites across Canada from BCE Inc. ("Bell") from October 1, 2020 and one additional data center site from November 2, 2020, Packet Host, Inc. (“Packet”) from March 2, 2020, and three data centers in Mexico acquired from Axtel S.A.B. de C.V ("Axtel") from January 8, 2020. All intercompany accounts and transactions have been eliminated in consolidation. Income Taxes We elected to be taxed as a real estate investment trust ("REIT") for U.S. federal income tax purposes beginning with our 2015 taxable year. As a result, we may deduct the distributions made to our stockholders from taxable income generated by our REIT and qualified REIT subsidiaries ("QRSs"). Our dividends paid deduction generally eliminates the U.S. federal taxable income of our REIT and QRSs, resulting in no U.S. federal income tax due. However, our domestic taxable REIT subsidiaries ("TRSs") are subject to U.S. corporate income taxes on any taxable income generated by them. In addition, our foreign operations are subject to local income taxes regardless of whether the foreign operations are operated as QRSs or TRSs. We provide 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 our operating performance, tax law changes and future business acquisitions. Our effective tax rates were 17.3% and 20.2% for the three months ended March 31, 2021 and 2020, respectively. Recent Accounting Pronouncements Accounting Standards Not Yet Adopted In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-06: Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). The ASU simplifies the accounting for convertible instruments by reducing the number of accounting models for convertible debt instruments and convertible preferred stock and modifies the disclosure requirement for the convertible instruments. Additionally, this ASU improves the consistency of EPS calculations by eliminating the use of the treasury stock method to calculate diluted EPS for convertible instruments and clarifies certain areas under the current EPS guidance. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021, with early adoption permitted at the beginning of the fiscal year after December 15, 2020. We are currently evaluating the extent of the impact of this ASU, but do not expect the adoption of this standard to have a significant impact on our condensed consolidated financial statements. Accounting Standards Adopted In December 2019, FASB issued ASU 2019-12, Income Taxes ("Topic 740"): Simplifying the Accounting for Income T axes. The ASU simplifies accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The ASU also improves consistent application of and simplifies generally accepted accounting principles ("GAAP") for other areas of Topic 740 by clarifying and amending existing guidance. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted including adoption in any interim period for periods for which financial statements have not yet been issued. On January 1, 2021, we adopted this ASU on a prospective basis and the adoption of this standard did not have an impact on our condensed consolidated financial statements. In March 2020, FASB issued ASU 2020-04, Reference Rate Reform ("Topic 848"): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. In addition, FASB issued ASU 2021-01, Reference Rate Reform ("Topic 848"), which clarifies the scope of Topic 848. Collectively, the guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. ASU 2020-04 was effective for all entities as of March 12, 2020 through December 31, 2022 and ASU 2021-01 is effective upon issuance. We adopted these ASUs upon their respective issuances and there was no impact on our condensed consolidated financial statements as a result of adopting the guidance. We will evaluate our debt, derivative and lease contracts that may become eligible for modification relief and may apply the elections prospectively as needed.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Contract Balances The following table summarizes the opening and closing balances of our accounts receivable, net; contract asset, current; contract asset, non-current; deferred revenue, current; and deferred revenue, non-current (in thousands): Accounts receivable, net (1) Contract assets, current Contract assets, non-current Deferred revenue, current Deferred revenue, non-current Beginning balances as of January 1, 2021 $ 676,738 $ 13,534 $ 54,050 $ 101,258 $ 71,242 Closing balances as of March 31, 2021 684,642 29,671 50,546 105,283 64,648 Increase (Decrease) $ 7,904 $ 16,137 $ (3,504) $ 4,025 $ (6,594) (1) The net change in our allowance for credit losses was insignificant during the three months ended March 31, 2021. The difference between the opening and closing balances of our accounts receivable, net, contract assets and deferred revenues primarily results from revenue growth and the timing difference between the satisfaction of our performance obligation and the customer's payment. The amount of revenue recognized during the three months ended March 31, 2021 from the opening deferred revenue balance as of January 1, 2021 was $36.4 million. Remaining performance obligations As of March 31, 2021, approximately $8.2 billion of total revenues, including 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, service fees from xScale TM data centers, which are calculated based on future events or actual costs incurred in the future, 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 we are considered the lessor.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2021
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 2021 2020 Net income $ 156,074 $ 118,957 Net (income) loss attributable to non-controlling interests 288 (165) Net income attributable to Equinix $ 156,362 $ 118,792 Weighted-average shares used to calculate basic EPS 89,330 85,551 Effect of dilutive securities: Employee equity awards 512 593 Weighted-average shares used to calculate diluted EPS 89,842 86,144 EPS attributable to Equinix: Basic EPS $ 1.75 $ 1.39 Diluted EPS $ 1.74 $ 1.38

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Acquisitions	Acquisitions 2020 Acquisitions Acquisition of Bell Data Centers (the "Bell Acquisition") On October 1, 2020, we completed the acquisition of 12 data center sites across Canada from Bell, with one additional data center in Ottawa Canada acquired on November 2, 2020, for a total combined purchase consideration of approximately C$934.3 million, or $704.0 million at the exchange rates in effect on those dates. The acquisition supports our ongoing expansion to meet customer demand in Canada. Acquisition of Packet (the "Packet Acquisition") On March 2, 2020, we acquired all outstanding shares and equity awards of Packet Host, Inc. (“Packet”), a leading bare metal automation platform for a total purchase consideration of approximately $290.3 million in cash. In addition, we paid $16.1 million in cash to accelerate the vesting of unvested Packet equity awards for certain Packet employees, which was recorded as stock-based compensation expense during the three months ended March 31, 2020. In connection with the acquisition, we also issued restricted stock awards with an aggregated fair value of $30.2 million and a three-year vesting period, which will be recognized as stock-based compensation costs over the vesting period. The acquisition, combined with Equinix Metal TM , is expected to accelerate our strategy to help enterprises deploy hybrid multicloud architectures on our data center platform. Acquisition of data centers from Axtel (the "Axtel Acquisition") On January 8, 2020, we completed the acquisition of three data centers in Mexico from Axtel S.A.B. de C.V. (“Axtel”) for a total purchase consideration of approximately $189.0 million, including $175.0 million in cash and $14.0 million we paid to the seller for recoverable value-added taxes ("VAT") incurred prior to the acquisition, which related to a corresponding VAT receivable acquired upon acquisition. The acquisition supports our ongoing expansion to meet customer demand in our Americas region. Purchase price allocation Each of these 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. As of March 31, 2021, we continued to review the detailed valuation analysis to derive the fair value of assets acquired and liabilities assumed from the Bell Acquisition, including property, plant and equipment, intangible assets and the related tax impacts; therefore, the purchase price allocation is based on provisional estimates and subject to continuing management analysis. A summary of the allocation of total purchase consideration is presented as follows (in thousands): Bell (1) Packet Axtel Provisional Final Cash and cash equivalents $ — $ 1,068 $ — Accounts receivable — 5,098 — Other current assets 696 299 14,048 Property, plant and equipment 538,717 27,945 76,407 Operating lease right-of-use assets 14,359 1,519 1,646 Intangible assets 75,857 58,500 22,750 Goodwill 172,387 230,620 78,902 Deferred tax and other assets 722 138 — Total assets acquired 802,738 325,187 193,753 Accounts payable and accrued liabilities (895) (1,275) (238) Other current liabilities — (860) — Operating lease liabilities (13,340) (1,519) (1,586) Finance lease liabilities (80,026) (27,945) — Deferred tax and other liabilities (4,495) (3,290) (2,911) Net assets acquired $ 703,982 $ 290,298 $ 189,018 (1) For the Bell Acquisition, the purchase price allocation adjustments since the provisional amounts reported as of December 31, 2020 were not significant. Property, plant and equipment - The fair values of property, plant and equipment acquired from these three acquisitions were estimated by applying the cost approach, with the exception of land, which we estimated by applying the market approach. 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. 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) Bell: Customer relationships $ 75,857 15.0 15.0 Packet: Trade names 1,300 3.0 3.0 Existing technology 5,100 3.0 3.0 Customer relationships 52,100 10.0 10.0 Axtel: Customer relationships 22,750 15.0 15.0 The fair values of customer relationships acquired from these acquisitions were estimated from 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. We applied a discount rate of 8.0% for Bell, 8.0% for Packet and 13.3% for Axtel, which reflects the nature of the assets as they relate to the risk and uncertainty of the estimated future operating cash flows, as well as the risk of the country within which the acquired business operates. The fair value of the Packet trade name was estimated using the relief from royalty method under the income approach. We applied a relief from royalty rate of 1.0% and a discount rate of 8.0%. The fair value of existing technology was estimated under the cost approach by projecting the cost to recreate a new asset with an equivalent utility of the existing technology. The key assumptions of the cost approach include total cost, time to recreate and functional obsolescence. Goodwill 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 these acquisitions. Goodwill from these acquisitions is attributable to our Americas region. Goodwill from the Bell Acquisition is expected to be deductible for local tax purposes while goodwill from the Packet and Axtel Acquisitions are not amortizable for local tax purposes. Revenues and net income and loss from operations The operating results of these three acquisitions are report ed in our Americas region following the date of acquisition. During the three months ended March 31, 2021, our results of operations include $48.5 million of revenues and $9.0 million of net loss from operations from the Bell, Packet and Axtel Acquisitions. Pending Acquisition of GPX India On August 7, 2020, we entered into an agreement to purchase the India operations of GPX Global Systems, Inc. ("GPX India"), representing two data centers in Mumbai, India for approximately $161.0 million in an all-cash transaction (the “GPX India Acquisition”). The GPX India Acquisition is expected to close in the second quarter of 2021, subject to customary closing conditions including regulatory approval. Upon the close of the acquisition, the operating results of the acquired business will be reported in our Asia-Pacific region.

Equity Method Investments

Equity Method Investments	3 Months Ended
	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Equity Method Investments The following table summarizes the equity method investments (in thousands): Investee Ownership Percentage March 31, 2021 December 31, 2020 EMEA Joint Venture with GIC 20 % $ 105,532 $ 101,892 Asia-Pacific Joint Venture with GIC 20 % 50,347 43,432 Other Various 16,517 17,747 Total $ 172,396 $ 163,071 EMEA Joint Venture In 2019, we entered into a joint venture in the form of a limited liability partnership with GIC Private Limited, Singapore's sovereign wealth fund ("GIC") (the "EMEA Joint Venture"), to develop and operate xScale™ data centers in Europe. The EMEA Joint Venture is not a variable interest entity ("VIE") because its equity investors have the characteristics of a controlling financial interest and it is sufficiently capitalized to sustain its operations, requiring additional funding from its partners only when expanding operations. During the three months ended March 31, 2021, we made additional equity contributions of $7.1 million to the EMEA Joint Venture. Our share of income and losses of equity method investments from this joint venture, which is attributable to our EMEA region, was insignificant for the three months ended March 31, 2021 and 2020 and was included in other income on the condensed consolidated statement of operations. We committed to make future equity contributions to the EMEA Joint Venture for funding its future development. As of March 31, 2021, we had future equity contribution commitments of $24.9 million. Variable Interest Entity Asia-Pacific Joint Venture On December 17, 2020, we entered into a second joint venture with GIC (the "Asia-Pacific Joint Venture") to develop and operate xScale™ data centers in Asia-Pacific. We provide certain management services to the Asia-Pacific Joint Venture operations and earn fees based on those services and performance. The Asia-Pacific Joint Venture requires additional funding from its partners in order to sustain its current operations. As a result, it was determined to be a VIE. The power to direct the activities of the Asia-Pacific Joint Venture that most significantly impact economic performance is shared equally by both partners. These activities include data center construction and operations, sales and marketing, financing, and real estate purchases or sales. Decisions about these activities require the consent of both GIC and us. We concluded that neither party is deemed to have predominant control over the Asia-Pacific Joint Venture and neither party is its primary beneficiary. Upon closing the Asia-Pacific Joint Venture, we recorded our initial 20% partnership interest at fair value of $42.6 million in total at the exchange rate in effect on December 17, 2020. During the three months ended March 31, 2021, we made additional equity contributions of $11.2 million to the Asia-Pacific Joint Venture. For the three months ended March 31, 2021, our share of income and losses of equity method investments from this joint venture, which was attributable to our Asia-Pacific region, was not significant and was included in other income on the condensed consolidated statement of operations. In addition to the investment in the Asia-Pacific Joint Venture, we also had $14.2 million of receivables from the Asia-Pacific Joint Venture relating to purchase price adjustments on the sale of data center assets as well as amounts due under commercial service agreements, which were presented within accounts receivable, net on the condensed consolidated balance sheet as of March 31, 2021. During the three months ended March 31, 2021, the total revenue recorded from these services was insignificant. Concurrent with the closing of the Asia-Pacific Joint Venture, the Asia-Pacific Joint Venture entered into a credit facility agreement and a bond agreement with a group of lenders for secured debt facilities of $305.2 million in total at the exchange rate in effect on December 31, 2020. The Asia-Pacific Joint Venture’s debt is secured by net assets of the Asia-Pacific Joint Venture and is without recourse to the partners. Under the Asia-Pacific Joint Venture agreement and pursuant to the credit facility and bond agreements, both our joint venture partner GIC and us are also required to make additional equity contributions proportionately upon occurrences such as an interest shortfall, cost-overrun or a capital shortfall needed to complete certain construction phases. We committed to make future equity contributions to the Asia-Pacific Joint Venture for funding its future development. As of March 31, 2021, we had future equity contribution commitments of $7.8 million. Our maximum exposure to loss related to this unconsolidated VIE is limited to our equity investments in the VIE, outstanding receivables including any unpaid service and performance fees earned, and future funding commitments including those that may be required pursuant to the credit facility and bond agreements. As of March 31, 2021, our maximum exposure to loss related to the Asia-Pacific Joint Venture was approximately $72.3 million. Related Party Transactions In connection with the sale of the PA9 data center to the EMEA Joint Venture, we also have a commitment to the EMEA Joint Venture to complete a residual portion of the PA9 center for an estimated cost of $22.4 million in total, which is reimbursable in full upon completion. As March 31, 2021, we had contract assets, current of $17.1 million, in relation to the progress in completing this commitment. The contingent consideration from the sales of xScale TM data centers to the EMEA Joint Venture are considered derivatives and are remeasured at fair value each reporting period using inputs such as probabilities of payment, discount rates, foreign currency forward rates and projected payment dates. The fair value measurements were based on significant inputs that are not observable in the market and thus represent Level 3 measurements. As of March 31, 2021 and December 31, 2020, the total fair value of the contingent consideration was $42.4 million and $44.2 million, respectively, which was included in other current assets on the condensed consolidated balance sheets. Changes in the fair value of the contingent consideration were recorded in gain (loss) on asset sales on the condensed consolidated statement of operations. We also have a sub-lease agreement with the EMEA Joint Venture to sub-lease a portion of London ("LD") 10-2 data center or former LD10 data center, for a total of 15 years. For the three months ended March 31, 2021 and 2020, we recorded approximately $4.5 million and $3.4 million, respectively, of rent expense for the LD10-2 data center. As of March 31, 2021 and December 31, 2020, we had a finance lease ROU assets of $128.2 million and $127.2 million, respectively and a finance lease ROU liability of $ 132.5 million and $130.8 million, respectively. We provide various services to the EMEA Joint Venture through multiple agreements, including sales and marketing, development management, facilities management, and asset management services. As of March 31, 2021 and December 31, 2020, we had $7.7 million and $6.5 million, respectively, of total receivables from the EMEA Joint Ventures. For the three months ended March 31, 2021 and 2020, total revenues from these contracts were $7.2 million and $4.6 million, respectively. The transactions with the EMEA Joint Venture are generally considered to have been negotiated arm's length. Additionally, we have an agreement to lease to the EMEA Joint Venture a portion of land for the Frankfurt 9 xScale TM data center and a new building that is under construction on the land. As of March 31, 2021, the lease has not commenced yet and we recorded approximately $17.2 million of other liabilities in connection with the construction of the Frankfurt 9 xScale TM data center. As previously described above, we provide various services to the Asia-Pacific Joint Venture, including portfolio management, sales and marketing, development, and facilities management services, which give rise receivables. The transactions with the Asia-Pacific Joint Venture are generally considered to have been negotiated arm's length.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities Derivatives Designated as Hedging Instruments Net Investment Hedges. We are exposed to the impact of foreign exchange rate fluctuations on the value of investments in our foreign subsidiaries whose functional currencies are other than the U.S. Dollar. In order to mitigate the impact of foreign currency exchange rates, we have entered into various foreign currency debt obligations, which are designated as hedges against our net investments in foreign subsidiaries. As of March 31, 2021 and December 31, 2020, the total principal amounts of foreign currency debt obligations designated as net investment hedges were $2.2 billion and $1.9 billion, respectively. We also use cross-currency interest rate swaps to hedge a portion of our net investment in our European operations. As of both March 31, 2021 and December 31, 2020, U.S. Dollar to Euro cross-currency interest rate swap contracts with a total notional amount of $3.3 billion were outstanding, with maturity dates from April 2022 to November 2026. At maturity of each outstanding contract, we will receive U.S. Dollars from and pay Euros to the contract counterparty. During the term of each contract, we receive interest payments in U.S. Dollars and make interest payments in Euros based on a notional amount and fixed interest rates determined at contract inception. From time to time, we use foreign currency forward contracts to hedge against the effect of foreign exchange rate fluctuations on a portion of our net investment in our foreign subsidiaries. As of both March 31, 2021 and December 31, 2020, the total notional amount of foreign currency forward contracts designated as net investment hedges was $355.6 million. The effect of net investment hedges on accumulated other comprehensive income and the condensed consolidated statements of operations for the three months ended March 31, 2021 and 2020 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended 2021 2020 Foreign currency debt $ 68,740 $ 99,102 Cross-currency interest rate swaps (included component) (1) 141,228 14,140 Cross-currency interest rate swaps (excluded component) (2) (40,529) 31,704 Foreign currency forward contracts (included component) (1) 708 — Foreign currency forward contracts (excluded component) (3) 28 — Total $ 170,175 $ 144,946 Amount of gain or (loss) recognized in earnings: Location of gain or (loss) Three Months Ended 2021 2020 Cross-currency interest rate swaps (excluded component) (2) Interest expense $ 10,049 $ 5,089 Foreign currency forward contracts (excluded component) (3) Interest expense 164 — Total $ 10,213 $ 5,089 (1) Included component represents foreign exchange spot rates. (2) Excluded component represents cross-currency basis spread and interest rates. (3) Excluded component represents foreign currency forward points. Cash Flow Hedges . We hedge our foreign currency translation exposure for forecasted revenues and expenses in our 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 we use to hedge this exposure are designated as cash flow hedges. As of March 31, 2021 and December 31, 2020, the total notional amounts of these foreign exchange contracts were $989.0 million and $912.9 million, respectively. As of March 31, 2021, our foreign currency cash flow hedge instruments had maturity dates ranging from April 2021 to December 2022 and we recorded a net loss of $18.9 million within accumulated other comprehensive income (loss) relating to these foreign exchange contracts that will be reclassified to revenues and expenses as they mature in the next 12 months. As of December 31, 2020, our foreign currency cash flow hedge instruments had maturity dates ranging from January 2021 to December 2022 and we recorded a net loss of $35.4 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. We enter into intercompany hedging instruments ("intercompany derivatives") with our wholly-owned subsidiaries in order to hedge certain forecasted revenues and expenses denominated in currencies other than the U.S. Dollar. Simultaneously, we enter into derivative contracts with unrelated third parties to externally hedge the net exposure created by such intercompany derivatives. We hedge the interest rate exposure created by anticipated fixed rate debt issuances through the use of treasury locks and swap locks (collectively, interest rate locks), which are designated as cash flow hedges. As of March 31, 2021, the total notional amount of interest rate locks outstanding was $725.0 million. As of December 31, 2020, we had no interest rate locks outstanding. During the three months ended March 31, 2021, we had no settled interest rate locks . When interest rate locks are settled, any gain or loss from the transactions is deferred and included as a component of other comprehensive income (loss) and is amortized to interest expense over the term of the forecasted hedged transaction which is equivalent to the term of the interest rate locks. As of March 31, 2021 and December 31, 2020, we recorded a net loss of $3.6 million and $4.1 million, respectively, within accumulated other comprehensive income (loss) to be reclassified to interest expense in the next 12 months for interest rate locks. The effect of cash flow hedges on accumulated other comprehensive income and the condensed consolidated statements of operations for the three months ended March 31, 2021 and 2020 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended 2021 2020 Foreign currency forward and option contracts (included component) (1) $ 31,374 $ 28,025 Foreign currency option contracts (excluded component) (2) 196 1,318 Interest rate locks 5,801 (26,232) Total $ 37,371 $ 3,111 Amount of gain or (loss) reclassified from accumulated other comprehensive income to income: Three Months Ended Location of gain or (loss) 2021 2020 Foreign currency forward contracts Revenues $ (12,969) $ 21,219 Foreign currency forward contracts Costs and operating expenses 7,204 (11,000) Interest rate locks Interest Expense (805) 168 Total $ (6,570) $ 10,387 Amount of gain or (loss) excluded from effectiveness testing included in income: Three Months Ended Location of gain or (loss) 2021 2020 Foreign currency option contracts (excluded component) (2) Revenues $ (181) $ (521) Total $ (181) $ (521) (1) Included component represents foreign exchange spot rates. (2) Excluded component represents option's time value. Derivatives Not Designated as Hedging Instruments Embedded Derivatives . We are deemed to have foreign currency forward contracts embedded in certain of our 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 our balance sheet at their fair value. The majority of these embedded derivatives arise as a result of our foreign subsidiaries pricing their customer contracts in U.S. Dollars. Economic Hedges of Embedded Derivatives . We use foreign currency forward contracts to manage the foreign exchange risk associated with our 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 . We also use 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 our 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 March 31, 2021 and December 31, 2020, the total notional amounts of these foreign currency contracts were $5.9 billion and $3.4 billion, respectively. The following table presents the effect of derivatives not designated as hedging instruments in our condensed consolidated statements of operations (in thousands): Amount of gain or (loss) recognized in earnings: Three Months Ended Location of gain or (loss) 2021 2020 Embedded derivatives Revenues $ 4,495 $ 7,451 Economic hedge of embedded derivatives Revenues (4,213) (7,902) Foreign currency forward contracts Other income (expense) 56,800 133,824 Total $ 57,082 $ 133,373 Fair Value of Derivative Instruments The following table presents the fair value of derivative instruments recognized in our condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 December 31, 2020 Assets (1) Liabilities (2) Assets (1) Liabilities (2) Designated as hedging instruments: Cash flow hedges Foreign currency forward and option contracts $ 7,832 $ 28,869 $ 351 $ 52,804 Interest rate locks 4,996 — — — Net investment hedges Cross-currency interest rate swaps 8,259 100,499 — 192,939 Foreign currency forward contracts — 22,011 — 17,041 Total designated as hedging 21,087 151,379 351 262,784 Not designated as hedging instruments: Embedded derivatives 5,324 1,604 3,255 3,858 Economic hedges of embedded derivatives — 2,223 4,372 12 Foreign currency forward contracts 50,919 9,644 3,721 133,805 Total not designated as hedging 56,243 13,471 11,348 137,675 Total Derivatives $ 77,330 $ 164,850 $ 11,699 $ 400,459 (1) As presented in our condensed consolidated balance sheets within other current assets and other assets. (2) As presented in our condensed consolidated balance sheets within other current liabilities and other liabilities. Offsetting Derivative Assets and Liabilities We present our derivative instruments and the accrued interest related to cross-currency interest rate swaps at gross fair values in the condensed consolidated balance sheets. We enter into master netting agreements with our 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, we do 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 March 31, 2021 and December 31, 2020 (in thousands): Gross Amounts Offset in Gross Amounts Gross Amounts Offset in the Balance Sheet Net Amounts Gross Amounts not Offset in the Balance Sheet Net March 31, 2021 Derivative assets $ 105,185 $ — $ 105,185 $ (86,858) $ 18,327 Derivative liabilities 181,461 — 181,461 (86,858) 94,603 December 31, 2020 Derivative assets $ 38,447 $ — $ 38,447 $ (35,100) $ 3,347 Derivative liabilities 415,628 — 415,628 (35,100) 380,528

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We perform fair value measurements in accordance with ASC 820, Fair Value Measurement, which establishes three levels of inputs that we use to measure fair value: • Level 1: quoted prices in active markets for identical assets or liabilities. • Level 2: observable inputs (e.g. spot rates and other data from the third-party pricing vendors for our derivative instruments) other than quoted market prices included within Level 1 that are observable, either directly or indirectly, for the assets or liabilities. • Level 3: unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of assets or liabilities. Our financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020 were as follows (in thousands): As of March 31, 2021 As of December 31, 2020 Fair Value Fair Value Fair Value Fair Value Level 1 Level 2 Level 1 Level 2 Assets: Money market and deposit accounts $ 587,615 $ 587,615 $ — $ 611,071 $ 611,071 $ — Publicly traded equity securities 153 153 — 159 159 — Certificates of deposit 4,076 — 4,076 4,373 — 4,373 Derivative instruments (1) 77,330 — 77,330 11,699 — 11,699 Total $ 669,174 $ 587,768 $ 81,406 $ 627,302 $ 611,230 $ 16,072 Liabilities: Derivative instruments (1) $ 164,850 $ — $ 164,850 $ 400,459 $ — $ 400,459 (1) Amounts are included within other current assets, other assets, others current liabilities and other liabilities in the condensed consolidated balance sheets. We did not have any nonfinancial assets or liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020. Other than the contingent consideration related to the EMEA Joint Venture as described in Note 5 above, we did not have any Level 3 financial assets or financial liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	Leases Significant Lease Transactions The following table summarizes the significant lease transactions during the three months ended March 31, 2021 (in millions): Renewal/Termination Options Excluded (1) Net Incremental (2) Lease Quarter Transaction Lease Classification ROU assets ROU liabilities Silicon Valley 8 ("SV8") data center lease extended (3) Q1 Extended lease term by 16 years Two 10-year renewal options Finance Lease $ 98.1 $ 100.0 Operating Lease (13.7) (15.6) Hong Kong 3 ("HK3") data center lease extended (3) Q1 Extended lease by 10 years, which included a 5-year renewal option N/A Finance Lease - Building 38.0 38.0 Operating Lease - Land 6.6 6.6 (1) These renewal/termination options are not included in determining the lease terms as we are not reasonably certain to exercise them at this time. (2) The net incremental amounts represent the adjustments to the right of use ("ROU") assets and liabilities recorded during the quarter that the transactions were entered. (3) These leases had components previously classified as operating leases. Lease Expenses The components of lease expenses are as follows (in thousands): Three Months Ended 2021 2020 Finance lease cost Amortization of ROU assets (1) $ 36,128 $ 25,166 Interest on lease liabilities 30,193 27,825 Total finance lease cost 66,321 52,991 Operating lease cost 56,454 53,791 Variable lease cost 8,040 2,582 Total lease cost $ 130,815 $ 109,364 (1) Amortization of ROU 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): Three Months Ended Three Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 28,399 $ 26,967 Operating cash flows from operating leases 52,092 51,985 Financing cash flows from finance leases 32,584 18,977 ROU assets obtained in exchange for lease obligations: (1) Finance leases $ 186,981 $ 115,274 Operating leases (1,948) 6,612 As of March 31, 2021 As of December 31, 2020 Weighted-average remaining lease term - finance leases (2) 14 years 14 years Weighted-average remaining lease term - operating leases (2) 12 years 12 years Weighted-average discount rate - finance leases 7 % 7 % Weighted-average discount rate - operating leases 4 % 4 % Finance lease assets (3) $ 1,816,380 $ 1,688,032 (1) Represents all non-cash changes in ROU assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) As of March 31, 2021 and December 31, 2020, we recorded accumulated amortization of finance lease assets of $626.8 million and $604.1 million, respectively. Finance lease assets are recorded within property, plant and equipment, net on the condensed consolidated balance sheets. Maturities of Lease Liabilities Maturities of lease liabilities as of March 31, 2021 are as follows (in thousands): Operating Leases Finance Leases Total 2021 (9 months remaining) $ 139,653 $ 183,906 $ 323,559 2022 196,704 231,600 428,304 2023 181,741 226,851 408,592 2024 168,996 224,965 393,961 2025 160,384 221,551 381,935 Thereafter 1,037,936 2,084,622 3,122,558 Total lease payments 1,885,414 3,173,495 5,058,909 Plus amount representing residual property value — 16,363 16,363 Less imputed interest (485,684) (1,127,963) (1,613,647) Total $ 1,399,730 $ 2,061,895 $ 3,461,625 We entered into agreements with various landlords primarily to lease data center spaces and ground leases which have not yet commenced as of March 31, 2021. These leases will commence between year 2021 and 2023, with lease terms of 10 to 47 years and total lease commitments of approximately $566.6 million.
Leases	Leases Significant Lease Transactions The following table summarizes the significant lease transactions during the three months ended March 31, 2021 (in millions): Renewal/Termination Options Excluded (1) Net Incremental (2) Lease Quarter Transaction Lease Classification ROU assets ROU liabilities Silicon Valley 8 ("SV8") data center lease extended (3) Q1 Extended lease term by 16 years Two 10-year renewal options Finance Lease $ 98.1 $ 100.0 Operating Lease (13.7) (15.6) Hong Kong 3 ("HK3") data center lease extended (3) Q1 Extended lease by 10 years, which included a 5-year renewal option N/A Finance Lease - Building 38.0 38.0 Operating Lease - Land 6.6 6.6 (1) These renewal/termination options are not included in determining the lease terms as we are not reasonably certain to exercise them at this time. (2) The net incremental amounts represent the adjustments to the right of use ("ROU") assets and liabilities recorded during the quarter that the transactions were entered. (3) These leases had components previously classified as operating leases. Lease Expenses The components of lease expenses are as follows (in thousands): Three Months Ended 2021 2020 Finance lease cost Amortization of ROU assets (1) $ 36,128 $ 25,166 Interest on lease liabilities 30,193 27,825 Total finance lease cost 66,321 52,991 Operating lease cost 56,454 53,791 Variable lease cost 8,040 2,582 Total lease cost $ 130,815 $ 109,364 (1) Amortization of ROU 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): Three Months Ended Three Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 28,399 $ 26,967 Operating cash flows from operating leases 52,092 51,985 Financing cash flows from finance leases 32,584 18,977 ROU assets obtained in exchange for lease obligations: (1) Finance leases $ 186,981 $ 115,274 Operating leases (1,948) 6,612 As of March 31, 2021 As of December 31, 2020 Weighted-average remaining lease term - finance leases (2) 14 years 14 years Weighted-average remaining lease term - operating leases (2) 12 years 12 years Weighted-average discount rate - finance leases 7 % 7 % Weighted-average discount rate - operating leases 4 % 4 % Finance lease assets (3) $ 1,816,380 $ 1,688,032 (1) Represents all non-cash changes in ROU assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) As of March 31, 2021 and December 31, 2020, we recorded accumulated amortization of finance lease assets of $626.8 million and $604.1 million, respectively. Finance lease assets are recorded within property, plant and equipment, net on the condensed consolidated balance sheets. Maturities of Lease Liabilities Maturities of lease liabilities as of March 31, 2021 are as follows (in thousands): Operating Leases Finance Leases Total 2021 (9 months remaining) $ 139,653 $ 183,906 $ 323,559 2022 196,704 231,600 428,304 2023 181,741 226,851 408,592 2024 168,996 224,965 393,961 2025 160,384 221,551 381,935 Thereafter 1,037,936 2,084,622 3,122,558 Total lease payments 1,885,414 3,173,495 5,058,909 Plus amount representing residual property value — 16,363 16,363 Less imputed interest (485,684) (1,127,963) (1,613,647) Total $ 1,399,730 $ 2,061,895 $ 3,461,625 We entered into agreements with various landlords primarily to lease data center spaces and ground leases which have not yet commenced as of March 31, 2021. These leases will commence between year 2021 and 2023, with lease terms of 10 to 47 years and total lease commitments of approximately $566.6 million.

Debt Facilities

Debt Facilities	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Debt Facilities	Debt Facilities Mortgage and Loans Payable As of March 31, 2021 and December 31, 2020, our mortgage and loans payable consisted of the following (in thousands): March 31, December 31, 2020 Term loans $ 1,234,094 $ 1,292,067 Mortgage payable and loans payable 75,842 78,903 1,309,936 1,370,970 Less amount representing unamortized debt discount and debt issuance cost (2,706) (3,288) Add amount representing unamortized mortgage premium 1,745 1,861 1,308,975 1,369,543 Less current portion (79,902) (82,289) Total $ 1,229,073 $ 1,287,254 Senior Credit Facility - Revolving Facility In 2017, we entered into a credit agreement with a group of lenders for a $3.0 billion credit facility ("Senior Credit Facility"), comprised of a $2.0 billion senior unsecured multicurrency revolving credit facility ("Revolving Facility") and an approximately $1.0 billion senior unsecured multicurrency term loan facility (the "Term Loan Facility"). The credit agreement was subsequently amended to provide an additional senior unsecured term loan in Japanese yen for approximately $424.7 million at the exchange rate effective on the transaction date. The Term Loan Facility bears interest at a rate based on LIBOR plus a margin that can vary from 1.00% to 1.70%. We are required to repay the Term Loan Facility at a rate of 5% of the original principal amount per annum with the remaining balance to be repaid in full at the maturity of the Senior Credit Facility on December 12, 2022. As of March 31, 2021 and December 31, 2020, the total amounts outstanding under the Term Loan Facility, net of debt issuance costs, were $1.2 billion and $1.3 billion, respectively. The Revolving Facility allows us to borrow, repay and reborrow over its term. The Revolving Facility provides a sublimit for the issuance of letters of credit of up to $250.0 million at any one time. In March 2020, we borrowed a total of $250.0 million under the Revolving Facility, which was fully repaid in May 2020. As of March 31, 2021, we had 37 irrevocable letters of credit totaling $75.7 million issued and outstanding under the Revolving Facility and the amount available to us to borrow under the Revolving Facility was approximately $1.9 billion as of March 31, 2021. Senior Notes As of March 31, 2021 and December 31, 2020, our senior notes consisted of the following (in thousands): March 31, 2021 December 31, 2020 Amount Effective Rate Amount Effective Rate 5.000% Infomart Senior Notes $ 150,000 4.51 % $ 150,000 4.51 % 2.625% Senior Notes due 2024 1,000,000 2.79 % 1,000,000 2.79 % 1.250% Senior Notes due 2025 500,000 1.46 % 500,000 1.46 % 1.000% Senior Notes Due 2025 700,000 1.18 % 700,000 1.18 % 2.900% Senior Notes due 2026 600,000 3.04 % 600,000 3.04 % 2.875% Euro Senior Notes due 2026 — — % 611,050 3.04 % 0.250% Euro Senior Notes due 2027 586,750 0.45 % — — % 1.800% Senior Notes due 2027 500,000 1.96 % 500,000 1.96 % 5.375% Senior Notes due 2027 1,250,000 5.51 % 1,250,000 5.51 % 1.550% Senior Notes due 2028 650,000 1.67 % 650,000 1.67 % 3.200% Senior Notes due 2029 1,200,000 3.30 % 1,200,000 3.30 % 2.150% Senior Notes due 2030 1,100,000 2.27 % 1,100,000 2.27 % 1.000% Euro Senior Notes due 2033 704,100 1.18 % — — % 3.000% Senior Notes due 2050 500,000 3.09 % 500,000 3.09 % 2.950% Senior Notes due 2051 500,000 3.00 % 500,000 3.00 % 9,940,850 9,261,050 Less amount representing unamortized debt issuance cost (105,489) (92,773) Add amount representing unamortized debt premium 3 186 9,835,364 9,168,463 Less current portion (150,003) (150,186) Total $ 9,685,361 $ 9,018,277 0.250% Euro Senior Notes due 2027 and 1.000% Euro Senior Notes due 2033 On March 10, 2021, we issued €500.0 million, or approximately $594.9 million in U.S. dollars, at the exchange rate in effect on March 10, 2021, aggregate principal amount of 0.250% senior notes due March 15, 2027 (the "2027 Euro Notes") and €600.0 million, or approximately $713.8 million in U.S. dollars, at the exchange rate in effect on March 10, 2021, aggregate principal amount of 1.000% senior notes due March 15, 2033 (the "2033 Euro Notes"). Interest on the notes is payable annually in arrears on March 15 of each year, commencing on March 15, 2022. Total debt issuance costs and debt discounts related to the 2027 Euro Notes and the 2033 Euro Notes were $7.0 million and $14.1 million, respectively. Redemption of 2.875% Euro Senior Notes due 2026 On March 24, 2021, using a portion of the net cash proceeds from the new 2027 Euro Senior Notes and 2033 Euro Senior Notes, we redeemed the remaining outstanding 2.875% Euro Senior Notes due 2026 for $590.7 million in U.S. dollars, at the exchange rate in effect on March 24, 2021. In connection with the redemption, we incurred $13.2 million of loss on debt extinguishment, including $8.5 million in redemption premium that was paid in cash and $4.7 million related to the write-off of unamortized debt issuance costs, during the three months ended March 31, 2021. Maturities of Debt Instruments The following table sets forth maturities of our debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs, debt discounts and debt premiums, as of March 31, 2021 (in thousands): Years ending: 2021 (9 months remaining) $ 209,968 2022 1,214,144 2023 6,778 2024 1,006,322 2025 1,204,665 Thereafter 7,610,654 Total $ 11,252,531 Fair Value of Debt Instruments The following table sets forth the estimated fair values of our mortgage and loans payable and senior notes, including current maturities, as of (in thousands): March 31, December 31, Mortgage and loans payable $ 1,316,062 $ 1,379,129 Senior notes 9,915,009 9,705,486 The fair values of the mortgage and loans payable and 5.000% Infomart Senior Notes, which are not publicly traded, were estimated by considering our credit rating, current rates available to us for debt of the same remaining maturities and terms of the debt (Level 2). The fair value of the senior notes, which are 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 2021 2020 Interest expense $ 89,681 $ 107,338 Interest capitalized 6,108 6,031 Interest charges incurred $ 95,789 $ 113,369

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase and Other Commitments As a result of our various IBX data center expansion projects, as of March 31, 2021, we were contractually committed for approximately $1.3 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 our customers for installation. We also had numerous other, non-capital purchase commitments in place as of March 31, 2021, such as commitments to purchase power in select locations through the remainder of 2021 and thereafter, and other open purchase orders for goods or services to be delivered or provided during the remainder of 2021 and thereafter. Such other miscellaneous purchase commitments totaled approximately $1.3 billion as of March 31, 2021. In addition, we entered into lease agreements in various locations that have not yet commenced as of March 31, 2021. For further information on equity contribution commitments and lease commitments, see Note 5 and Note 8, respectively, above. Contingent Liabilities We estimate our 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, we record what we 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 our 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 our IBX data center leases or a municipality changing the assessment value in a jurisdiction and, as a result, our property tax obligations may vary from period to period. Based upon the most current facts and circumstances, we make the necessary property tax accruals for each of our reporting periods. However, revisions in our estimates of the potential or actual liability could materially impact our financial position, results of operations or cash flows. Our indirect and property tax filings in various jurisdictions are subject to examination by local tax authorities. Although we believe that we have adequately assessed and accounted for our potential tax liabilities, and that our tax estimates are reasonable, there can be no certainty that additional taxes will not be due upon audit of our tax returns or as a result of further changes to the tax laws and interpretations thereof. For example, we are currently undergoing an audit and appealing the tentative assessment in Brazil. The final settlement of the audit and the outcome of the appeal are uncertain and may not be resolved in our favor. We regularly assess the likelihood of adverse outcomes resulting from these examinations and appeals that would affect the adequacy of our tax accruals for each of the reporting periods. If any issues arising from the tax examinations and appeals are resolved in a manner inconsistent with our expectations, the revision of the estimates of the potential or actual liabilities could materially impact our financial position, results of operations, or cash flows. Indemnification and Guarantor Arrangements As permitted under Delaware law, we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is, or was serving, at our request in such capacity. The term of the indemnification period is for the officer's or director's lifetime. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited; however, we have a director and officer insurance policy that could limit our exposure and enable us to recover a portion of any future amounts paid. As a result of our insurance policy that could limit our exposure and enable us to recover some or all of amounts paid, we believe the estimated fair value of these indemnification agreements is minimal. We have no liabilities recorded for these agreements as of March 31, 2021. We enter into standard indemnification agreements in the ordinary course of business. Pursuant to these agreements, we indemnify, hold harmless, and agree to reimburse the indemnified party for losses suffered or incurred by the indemnified party, generally our business partners or customers, in connection with any U.S. patent, or any copyright or other intellectual property infringement claim by any third party with respect to our offerings. The term of these indemnification agreements is generally perpetual any time after execution of the agreement. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited; however, we have never incurred costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, we believe the estimated fair value of these agreements is minimal. We have no liabilities recorded for these agreements as of March 31, 2021. We enter into arrangements with our business partners, whereby the business partner agrees to provide services as a subcontractor for our installations. Accordingly, we enter into standard indemnification agreements with our customers, whereby we indemnify them for other acts, such as personal property damage, of our subcontractors. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited; however, we have general and umbrella insurance policies that could enable us to recover a portion of any amounts paid. We have never incurred costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, we believe the estimated fair value of these agreements is minimal. We have no liabilities recorded for these agreements as of March 31, 2021. We have service level commitment obligations to certain of our customers. As a result, service interruptions or significant equipment damage in our IBX data centers, whether or not within our control, could result in service level commitments to these customers. Our liability insurance may not be adequate to cover those expenses. In addition, any loss of services, equipment damage or inability to meet our service level commitment obligations could reduce the confidence of our customers and could consequently impair our ability to obtain and retain customers, which would adversely affect both our ability to generate revenues and our operating results. We generally have the ability to determine such service level credits prior to the associated revenue being recognized. We do not have significant liabilities in connection with service level credits as of March 31, 2021.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Stockholders' Equity Rollforward The following tables provide a rollforward of our stockholders' equity for the three months ended March 31, 2021 and 2020 (in thousands, except share and per share data): AOCI (Loss) Retained Equinix Non-controlling Interests Total Stockholders' Equity Common Stock Treasury Stock Additional Accumulated Shares Amount Shares Amount Balance as of December 31, 2020 89,462,304 $ 89 (328,052) $ (122,118) $ 15,028,357 $ (5,119,274) $ (913,368) $ 1,760,302 $ 10,633,988 $ 130 $ 10,634,118 Net income — — — — — — — 156,362 156,362 (288) 156,074 Other comprehensive loss — — — — — — (95,480) — (95,480) (1) (95,481) Issuance of common stock and release of treasury stock for employee equity awards 428,618 1 11,640 4,332 35,701 — — — 40,034 — 40,034 Dividend distribution on common stock, $2.87 per share — — — — — (256,321) — — (256,321) — (256,321) Settlement of accrued dividends on vested equity awards — — — — — (437) — — (437) — (437) Accrued dividends on unvested equity awards — — — — — (3,661) — — (3,661) — (3,661) Stock-based compensation, net of estimated forfeitures — — — 102,349 — — — 102,349 — 102,349 Balance as of March 31, 2021 89,890,922 $ 90 (316,412) $ (117,786) $ 15,166,407 $ (5,379,693) $ (1,008,848) $ 1,916,664 $ 10,576,834 $ (159) $ 10,576,675 Additional Accumulated AOCI (Loss) Retained Equinix Non-controlling interests Total Stockholders' Equity Common Stock Treasury Stock Shares Amount Shares Amount Balance as of December 31, 2019 85,700,953 $ 86 (392,567) $ (144,256) $ 12,696,433 $ (4,168,469) $ (934,613) $ 1,391,425 $ 8,840,606 $ (224) $ 8,840,382 Adjustment from adoption of new accounting standard update — — — — — — — (900) (900) — (900) Net income — — — — — — — 118,792 118,792 165 118,957 Other comprehensive income — — — — — — (272,056) — (272,056) (11) (272,067) Issuance of common stock and release of treasury stock for employee equity awards 405,550 — 50,594 16,958 13,432 — — — 30,390 — 30,390 Issuance of common stock under ATM Program 162,530 — — — 101,791 — — — 101,791 — 101,791 Dividend distribution on common stock, $2.66 per share — — — — — (227,387) — — (227,387) — (227,387) Settlement of accrued dividends on vested equity awards — — — — 109 (403) — — (294) — (294) Accrued dividends on unvested equity awards — — — — — (3,268) — — (3,268) — (3,268) Stock-based compensation, net of estimated forfeitures — — — — 81,690 — — — 81,690 — 81,690 Balance as of March 31, 2020 86,269,033 $ 86 (341,973) $ (127,298) $ 12,893,455 $ (4,399,527) $ (1,206,669) $ 1,509,317 $ 8,669,364 $ (70) $ 8,669,294 Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss, net of tax, by components are as follows (in thousands): Balance as of December 31, Net Balance as of March 31, Foreign currency translation adjustment ("CTA") gain (loss) $ (508,415) $ (295,145) $ (803,560) Unrealized gain (loss) on cash flow hedges (1) (67,152) 29,478 (37,674) Net investment hedge CTA gain (loss) (1) (336,934) 170,175 (166,759) Net actuarial gain (loss) on defined benefit plans (2) (867) 12 (855) Accumulated other comprehensive loss attributable to Equinix $ (913,368) $ (95,480) $ (1,008,848) (1) Refer to Note 6 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income. (2) We have two defined benefit pension plans covering all employees in two countries where such plan is mandated by law. Changes in foreign currencies can have a significant impact to our condensed consolidated balance sheets (as evidenced above in our foreign currency translation loss), as well as our consolidated results of operations, as amounts in foreign currencies are generally translated into more U.S. Dollars when the U.S. Dollar weakens or fewer U.S. Dollars when the U.S. Dollar strengthens. As of March 31, 2021, the U.S. Dollar was generally weaker relative to certain of the currencies of the foreign countries in which we operate as compared to December 31, 2020. Because of this, the U.S. Dollar had an overall favorable impact on our condensed consolidated financial position because the foreign denominations translated into more U.S. Dollars as evidenced by a decrease in foreign currency translation loss for the three months ended March 31, 2021 as reflected in the condensed consolidated statements of comprehensive income (loss). The volatility of the U.S. Dollar as compared to the other currencies in which we operate could have a significant impact on our condensed consolidated financial position and results of operations including the amount of revenue that we report in future periods. Common Stock In May 2020, we issued and sold 2,587,500 shares of common stock in a public offering pursuant to a registration statement and a related prospectus and prospectus supplement. We received net proceeds of approximately $1.7 billion, net of underwriting discounts, commissions and offering expenses. In October 2020, we established a new ATM program, under which we may, from time to time, offer and sell up to an aggregate of $1.5 billion of our common stock to or through sales agents in "at the market" transactions (the "2020 ATM Program"). For the three months ended March 31, 2021, we did not sell any shares under the 2020 ATM Program. For the three months ended March 31, 2020, we sold 162,530 shares under the prior ATM program for approximately $101.8 million, net of payment of commissions to sales agents and other offering expenses. As of March 31, 2021, no shares remained available for sale under the prior ATM program. Stock-Based Compensation For the three months ended March 31, 2021, the Compensation Committee and/or the Stock Award Committee of our Board of Directors, as the case may be, approved the issuance of an aggregate of 646,388 shares of restricted stock units ("RSUs") to certain employees, including executive officers. These equity awards are subject to vesting provisions and have a weighted-average grant date fair value of $650.40 per share and a weighted-average requisite service period of 3.52 years. The valuation of RSUs 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 our stock price on the date of grant. We use revenues and adjusted funds from operations ("AFFO") per share as the performance measurements in the RSUs with both service and performance conditions that were granted in the three months ended March 31, 2021. We use a Monte Carlo simulation option-pricing model to determine the fair value of RSUs with a service and market condition. We used total shareholder return ("TSR") as the performance measurement in the RSUs with a service and market condition that were granted in the three months ended March 31, 2021. There were no significant changes in the assumptions used to determine the fair value of RSUs with a service and market condition that were granted in 2021 compared to the prior year. The following table presents, by operating expense category, our stock-based compensation expense recognized in our condensed consolidated statements of operations (in thousands): Three Months Ended 2021 2020 Cost of revenues $ 8,467 $ 9,343 Sales and marketing 17,703 18,545 General and administrative 52,180 52,678 Total $ 78,350 $ 80,566

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information While we have one primary line of business, which is the design, build-out and operation of IBX data centers, we have determined that we have three reportable segments comprised of our Americas, EMEA and Asia-Pacific geographic regions. Our chief operating decision-maker evaluates performance, makes operating decisions and allocates resources based on our revenues and adjusted EBITDA performance both on a consolidated basis and based on these three reportable segments. Intercompany transactions between segments are excluded for management reporting purposes. The following tables present revenue information disaggregated by product lines and geographic areas, (in thousands): Three Months Ended March 31, 2021 Americas EMEA Asia-Pacific Total Colocation (1) $ 487,459 $ 388,275 $ 254,558 $ 1,130,292 Interconnection 164,887 61,650 53,182 279,719 Managed infrastructure 38,485 32,111 22,749 93,345 Other (1) 2,038 5,046 493 7,577 Recurring revenues 692,869 487,082 330,982 1,510,933 Non-recurring revenues 33,071 31,635 20,425 85,131 Total $ 725,940 $ 518,717 $ 351,407 $ 1,596,064 (1) Includes some leasing and hedging activities. Three Months Ended March 31, 2020 Americas EMEA Asia-Pacific Total Colocation (1) $ 450,954 $ 362,330 $ 221,093 $ 1,034,377 Interconnection 150,929 48,541 42,671 242,141 Managed infrastructure 25,529 30,137 21,824 77,490 Other (1) 5,220 2,466 — 7,686 Recurring revenues 632,632 443,474 285,588 1,361,694 Non-recurring revenues 29,273 35,435 18,140 82,848 Total $ 661,905 $ 478,909 $ 303,728 $ 1,444,542 (1) Includes some leasing and hedging activities. We define adjusted EBITDA as income from operations excluding depreciation, amortization, accretion, stock-based compensation expense, restructuring charges, impairment charges, transaction costs and gain or loss on asset sales as presented below (in thousands): Three Months Ended 2021 2020 Adjusted EBITDA: Americas $ 344,492 $ 293,613 EMEA 243,563 230,158 Asia-Pacific 185,177 160,439 Total adjusted EBITDA 773,232 684,210 Depreciation, amortization and accretion expense (394,318) (337,431) Stock-based compensation expense (78,350) (80,566) Transaction costs (1,182) (11,530) Loss on asset sales (1,720) (1,199) Income from operations $ 297,662 $ 253,484 We also provide the following additional segment disclosures (in thousands): Three Months Ended 2021 2020 Depreciation and amortization: Americas $ 203,433 $ 171,074 EMEA 110,779 92,374 Asia-Pacific 80,805 72,421 Total $ 395,017 $ 335,869 Capital expenditures: Americas $ 205,174 $ 184,401 EMEA 235,416 122,128 Asia-Pacific 123,008 94,412 Total $ 563,598 $ 400,941 Our long-lived assets, including property, plant and equipment, net and operating lease right-of-use assets, located in the following geographic areas as of (in thousands): March 31, December 31, Americas $ 6,638,661 $ 6,429,861 EMEA 4,976,302 5,002,271 Asia-Pacific 3,153,698 3,070,952 Total Property, plant and equipment, net $ 14,768,661 $ 14,503,084 Americas $ 337,686 $ 363,515 EMEA 527,435 547,547 Asia-Pacific 540,714 563,995 Total Operating lease right-of-use assets $ 1,405,835 $ 1,475,057

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Declaration of dividends On April 28, 2021, we declared a quarterly cash dividend of $2.87 per share, which is payable on June 16, 2021 to our common stockholders of record as of the close of business on May 19, 2021.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by Equinix, Inc. (collectively with its consolidated subsidiaries referred to as "Equinix," the "Company," "we," "our," or "us") 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. In the preparation of our condensed consolidated financial statements, we have considered potential impacts of the COVID-19 pandemic on our critical and significant accounting estimates. There was no significant impact to our condensed consolidated financial statements. We will continue to evaluate the nature and extent of the potential impacts to our business and our condensed consolidated financial statements. Our condensed consolidated balance sheet data as of December 31, 2020 has been derived from audited consolidated financial statements as of that date. Our 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 our Form 10-K as filed with the SEC on February 19, 2021. 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 our acquisitions of 12 data center sites across Canada from BCE Inc. ("Bell") from October 1, 2020 and one additional data center site from November 2, 2020, Packet Host, Inc. (“Packet”) from March 2, 2020, and three data centers in Mexico acquired from Axtel S.A.B. de C.V ("Axtel") from January 8, 2020. All intercompany accounts and transactions have been eliminated in consolidation.
Income Taxes	Income Taxes We elected to be taxed as a real estate investment trust ("REIT") for U.S. federal income tax purposes beginning with our 2015 taxable year. As a result, we may deduct the distributions made to our stockholders from taxable income generated by our REIT and qualified REIT subsidiaries ("QRSs"). Our dividends paid deduction generally eliminates the U.S. federal taxable income of our REIT and QRSs, resulting in no U.S. federal income tax due. However, our domestic taxable REIT subsidiaries ("TRSs") are subject to U.S. corporate income taxes on any taxable income generated by them. In addition, our foreign operations are subject to local income taxes regardless of whether the foreign operations are operated as QRSs or TRSs.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Standards Not Yet Adopted In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-06: Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). The ASU simplifies the accounting for convertible instruments by reducing the number of accounting models for convertible debt instruments and convertible preferred stock and modifies the disclosure requirement for the convertible instruments. Additionally, this ASU improves the consistency of EPS calculations by eliminating the use of the treasury stock method to calculate diluted EPS for convertible instruments and clarifies certain areas under the current EPS guidance. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021, with early adoption permitted at the beginning of the fiscal year after December 15, 2020. We are currently evaluating the extent of the impact of this ASU, but do not expect the adoption of this standard to have a significant impact on our condensed consolidated financial statements. Accounting Standards Adopted In December 2019, FASB issued ASU 2019-12, Income Taxes ("Topic 740"): Simplifying the Accounting for Income T axes. The ASU simplifies accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The ASU also improves consistent application of and simplifies generally accepted accounting principles ("GAAP") for other areas of Topic 740 by clarifying and amending existing guidance. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted including adoption in any interim period for periods for which financial statements have not yet been issued. On January 1, 2021, we adopted this ASU on a prospective basis and the adoption of this standard did not have an impact on our condensed consolidated financial statements. In March 2020, FASB issued ASU 2020-04, Reference Rate Reform ("Topic 848"): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. In addition, FASB issued ASU 2021-01, Reference Rate Reform ("Topic 848"), which clarifies the scope of Topic 848. Collectively, the guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. ASU 2020-04 was effective for all entities as of March 12, 2020 through December 31, 2022 and ASU 2021-01 is effective upon issuance. We adopted these ASUs upon their respective issuances and there was no impact on our condensed consolidated financial statements as a result of adopting the guidance. We will evaluate our debt, derivative and lease contracts that may become eligible for modification relief and may apply the elections prospectively as needed.
Remaining performance obligations	Remaining performance obligations As of March 31, 2021, approximately $8.2 billion of total revenues, including 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, service fees from xScale TM data centers, which are calculated based on future events or actual costs incurred in the future, 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 we are considered the lessor.
Derivatives Designated as Hedging Instruments	Derivatives Designated as Hedging Instruments Net Investment Hedges. We are exposed to the impact of foreign exchange rate fluctuations on the value of investments in our foreign subsidiaries whose functional currencies are other than the U.S. Dollar. In order to mitigate the impact of foreign currency exchange rates, we have entered into various foreign currency debt obligations, which are designated as hedges against our net investments in foreign subsidiaries. As of March 31, 2021 and December 31, 2020, the total principal amounts of foreign currency debt obligations designated as net investment hedges were $2.2 billion and $1.9 billion, respectively. We also use cross-currency interest rate swaps to hedge a portion of our net investment in our European operations. As of both March 31, 2021 and December 31, 2020, U.S. Dollar to Euro cross-currency interest rate swap contracts with a total notional amount of $3.3 billion were outstanding, with maturity dates from April 2022 to November 2026. At maturity of each outstanding contract, we will receive U.S. Dollars from and pay Euros to the contract counterparty. During the term of each contract, we receive interest payments in U.S. Dollars and make interest payments in Euros based on a notional amount and fixed interest rates determined at contract inception. Cash Flow Hedges .
Derivatives Not Designated as Hedging Instruments	Derivatives Not Designated as Hedging Instruments Embedded Derivatives . We are deemed to have foreign currency forward contracts embedded in certain of our 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 our balance sheet at their fair value. The majority of these embedded derivatives arise as a result of our foreign subsidiaries pricing their customer contracts in U.S. Dollars. Economic Hedges of Embedded Derivatives . We use foreign currency forward contracts to manage the foreign exchange risk associated with our 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 .
Fair Value Measurements	We perform fair value measurements in accordance with ASC 820, Fair Value Measurement, which establishes three levels of inputs that we use to measure fair value: • Level 1: quoted prices in active markets for identical assets or liabilities. • Level 2: observable inputs (e.g. spot rates and other data from the third-party pricing vendors for our derivative instruments) other than quoted market prices included within Level 1 that are observable, either directly or indirectly, for the assets or liabilities.
Segment Information	While we have one primary line of business, which is the design, build-out and operation of IBX data centers, we have determined that we have three reportable segments comprised of our Americas, EMEA and Asia-Pacific geographic regions. Our chief operating decision-maker evaluates performance, makes operating decisions and allocates resources based on our revenues and adjusted EBITDA performance both on a consolidated basis and based on these three reportable segments.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Summary of opening and closing balances	The following table summarizes the opening and closing balances of our accounts receivable, net; contract asset, current; contract asset, non-current; deferred revenue, current; and deferred revenue, non-current (in thousands): Accounts receivable, net (1) Contract assets, current Contract assets, non-current Deferred revenue, current Deferred revenue, non-current Beginning balances as of January 1, 2021 $ 676,738 $ 13,534 $ 54,050 $ 101,258 $ 71,242 Closing balances as of March 31, 2021 684,642 29,671 50,546 105,283 64,648 Increase (Decrease) $ 7,904 $ 16,137 $ (3,504) $ 4,025 $ (6,594)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
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 2021 2020 Net income $ 156,074 $ 118,957 Net (income) loss attributable to non-controlling interests 288 (165) Net income attributable to Equinix $ 156,362 $ 118,792 Weighted-average shares used to calculate basic EPS 89,330 85,551 Effect of dilutive securities: Employee equity awards 512 593 Weighted-average shares used to calculate diluted EPS 89,842 86,144 EPS attributable to Equinix: Basic EPS $ 1.75 $ 1.39 Diluted EPS $ 1.74 $ 1.38

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Schedule of allocation of total purchase consideration	A summary of the allocation of total purchase consideration is presented as follows (in thousands): Bell (1) Packet Axtel Provisional Final Cash and cash equivalents $ — $ 1,068 $ — Accounts receivable — 5,098 — Other current assets 696 299 14,048 Property, plant and equipment 538,717 27,945 76,407 Operating lease right-of-use assets 14,359 1,519 1,646 Intangible assets 75,857 58,500 22,750 Goodwill 172,387 230,620 78,902 Deferred tax and other assets 722 138 — Total assets acquired 802,738 325,187 193,753 Accounts payable and accrued liabilities (895) (1,275) (238) Other current liabilities — (860) — Operating lease liabilities (13,340) (1,519) (1,586) Finance lease liabilities (80,026) (27,945) — Deferred tax and other liabilities (4,495) (3,290) (2,911) Net assets acquired $ 703,982 $ 290,298 $ 189,018
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) Bell: Customer relationships $ 75,857 15.0 15.0 Packet: Trade names 1,300 3.0 3.0 Existing technology 5,100 3.0 3.0 Customer relationships 52,100 10.0 10.0 Axtel: Customer relationships 22,750 15.0 15.0

Investments, Equity Method and

Investments, Equity Method and Joint Ventures (Tables)	3 Months Ended
	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Schedule of equity method investments	The following table summarizes the equity method investments (in thousands): Investee Ownership Percentage March 31, 2021 December 31, 2020 EMEA Joint Venture with GIC 20 % $ 105,532 $ 101,892 Asia-Pacific Joint Venture with GIC 20 % 50,347 43,432 Other Various 16,517 17,747 Total $ 172,396 $ 163,071

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2021
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 months ended March 31, 2021 and 2020 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended 2021 2020 Foreign currency debt $ 68,740 $ 99,102 Cross-currency interest rate swaps (included component) (1) 141,228 14,140 Cross-currency interest rate swaps (excluded component) (2) (40,529) 31,704 Foreign currency forward contracts (included component) (1) 708 — Foreign currency forward contracts (excluded component) (3) 28 — Total $ 170,175 $ 144,946 Amount of gain or (loss) recognized in earnings: Location of gain or (loss) Three Months Ended 2021 2020 Cross-currency interest rate swaps (excluded component) (2) Interest expense $ 10,049 $ 5,089 Foreign currency forward contracts (excluded component) (3) Interest expense 164 — Total $ 10,213 $ 5,089 (1) Included component represents foreign exchange spot rates. (2) Excluded component represents cross-currency basis spread and interest rates. (3) Excluded component represents foreign currency forward points.
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 months ended March 31, 2021 and 2020 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended 2021 2020 Foreign currency forward and option contracts (included component) (1) $ 31,374 $ 28,025 Foreign currency option contracts (excluded component) (2) 196 1,318 Interest rate locks 5,801 (26,232) Total $ 37,371 $ 3,111 Amount of gain or (loss) reclassified from accumulated other comprehensive income to income: Three Months Ended Location of gain or (loss) 2021 2020 Foreign currency forward contracts Revenues $ (12,969) $ 21,219 Foreign currency forward contracts Costs and operating expenses 7,204 (11,000) Interest rate locks Interest Expense (805) 168 Total $ (6,570) $ 10,387 Amount of gain or (loss) excluded from effectiveness testing included in income: Three Months Ended Location of gain or (loss) 2021 2020 Foreign currency option contracts (excluded component) (2) Revenues $ (181) $ (521) Total $ (181) $ (521) (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 our condensed consolidated statements of operations (in thousands): Amount of gain or (loss) recognized in earnings: Three Months Ended Location of gain or (loss) 2021 2020 Embedded derivatives Revenues $ 4,495 $ 7,451 Economic hedge of embedded derivatives Revenues (4,213) (7,902) Foreign currency forward contracts Other income (expense) 56,800 133,824 Total $ 57,082 $ 133,373
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 our condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 December 31, 2020 Assets (1) Liabilities (2) Assets (1) Liabilities (2) Designated as hedging instruments: Cash flow hedges Foreign currency forward and option contracts $ 7,832 $ 28,869 $ 351 $ 52,804 Interest rate locks 4,996 — — — Net investment hedges Cross-currency interest rate swaps 8,259 100,499 — 192,939 Foreign currency forward contracts — 22,011 — 17,041 Total designated as hedging 21,087 151,379 351 262,784 Not designated as hedging instruments: Embedded derivatives 5,324 1,604 3,255 3,858 Economic hedges of embedded derivatives — 2,223 4,372 12 Foreign currency forward contracts 50,919 9,644 3,721 133,805 Total not designated as hedging 56,243 13,471 11,348 137,675 Total Derivatives $ 77,330 $ 164,850 $ 11,699 $ 400,459 (1) As presented in our condensed consolidated balance sheets within other current assets and other assets. (2) As presented in our 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 March 31, 2021 and December 31, 2020 (in thousands): Gross Amounts Offset in Gross Amounts Gross Amounts Offset in the Balance Sheet Net Amounts Gross Amounts not Offset in the Balance Sheet Net March 31, 2021 Derivative assets $ 105,185 $ — $ 105,185 $ (86,858) $ 18,327 Derivative liabilities 181,461 — 181,461 (86,858) 94,603 December 31, 2020 Derivative assets $ 38,447 $ — $ 38,447 $ (35,100) $ 3,347 Derivative liabilities 415,628 — 415,628 (35,100) 380,528
Schedule of offsetting derivative assets and liabilities	The following table presents information related to these offsetting arrangements as of March 31, 2021 and December 31, 2020 (in thousands): Gross Amounts Offset in Gross Amounts Gross Amounts Offset in the Balance Sheet Net Amounts Gross Amounts not Offset in the Balance Sheet Net March 31, 2021 Derivative assets $ 105,185 $ — $ 105,185 $ (86,858) $ 18,327 Derivative liabilities 181,461 — 181,461 (86,858) 94,603 December 31, 2020 Derivative assets $ 38,447 $ — $ 38,447 $ (35,100) $ 3,347 Derivative liabilities 415,628 — 415,628 (35,100) 380,528

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of financial assets and liabilities measured at fair value on a recurring basis	Our financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020 were as follows (in thousands): As of March 31, 2021 As of December 31, 2020 Fair Value Fair Value Fair Value Fair Value Level 1 Level 2 Level 1 Level 2 Assets: Money market and deposit accounts $ 587,615 $ 587,615 $ — $ 611,071 $ 611,071 $ — Publicly traded equity securities 153 153 — 159 159 — Certificates of deposit 4,076 — 4,076 4,373 — 4,373 Derivative instruments (1) 77,330 — 77,330 11,699 — 11,699 Total $ 669,174 $ 587,768 $ 81,406 $ 627,302 $ 611,230 $ 16,072 Liabilities: Derivative instruments (1) $ 164,850 $ — $ 164,850 $ 400,459 $ — $ 400,459 (1) Amounts are included within other current assets, other assets, others current liabilities and other liabilities in the condensed consolidated balance sheets.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Schedule of leases entered into during the period	The following table summarizes the significant lease transactions during the three months ended March 31, 2021 (in millions): Renewal/Termination Options Excluded (1) Net Incremental (2) Lease Quarter Transaction Lease Classification ROU assets ROU liabilities Silicon Valley 8 ("SV8") data center lease extended (3) Q1 Extended lease term by 16 years Two 10-year renewal options Finance Lease $ 98.1 $ 100.0 Operating Lease (13.7) (15.6) Hong Kong 3 ("HK3") data center lease extended (3) Q1 Extended lease by 10 years, which included a 5-year renewal option N/A Finance Lease - Building 38.0 38.0 Operating Lease - Land 6.6 6.6 (1) These renewal/termination options are not included in determining the lease terms as we are not reasonably certain to exercise them at this time. (2) The net incremental amounts represent the adjustments to the right of use ("ROU") assets and liabilities recorded during the quarter that the transactions were entered.
Components of lease expenses	The components of lease expenses are as follows (in thousands): Three Months Ended 2021 2020 Finance lease cost Amortization of ROU assets (1) $ 36,128 $ 25,166 Interest on lease liabilities 30,193 27,825 Total finance lease cost 66,321 52,991 Operating lease cost 56,454 53,791 Variable lease cost 8,040 2,582 Total lease cost $ 130,815 $ 109,364 (1) Amortization of ROU 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): Three Months Ended Three Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 28,399 $ 26,967 Operating cash flows from operating leases 52,092 51,985 Financing cash flows from finance leases 32,584 18,977 ROU assets obtained in exchange for lease obligations: (1) Finance leases $ 186,981 $ 115,274 Operating leases (1,948) 6,612 As of March 31, 2021 As of December 31, 2020 Weighted-average remaining lease term - finance leases (2) 14 years 14 years Weighted-average remaining lease term - operating leases (2) 12 years 12 years Weighted-average discount rate - finance leases 7 % 7 % Weighted-average discount rate - operating leases 4 % 4 % Finance lease assets (3) $ 1,816,380 $ 1,688,032 (1) Represents all non-cash changes in ROU assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) As of March 31, 2021 and December 31, 2020, we recorded accumulated amortization of finance lease assets of $626.8 million and $604.1 million, respectively. Finance lease assets are recorded within property, plant and equipment, net on the condensed consolidated balance sheets.
Maturities of lease liabilities	Maturities of lease liabilities as of March 31, 2021 are as follows (in thousands): Operating Leases Finance Leases Total 2021 (9 months remaining) $ 139,653 $ 183,906 $ 323,559 2022 196,704 231,600 428,304 2023 181,741 226,851 408,592 2024 168,996 224,965 393,961 2025 160,384 221,551 381,935 Thereafter 1,037,936 2,084,622 3,122,558 Total lease payments 1,885,414 3,173,495 5,058,909 Plus amount representing residual property value — 16,363 16,363 Less imputed interest (485,684) (1,127,963) (1,613,647) Total $ 1,399,730 $ 2,061,895 $ 3,461,625
Maturities of lease liabilities	Maturities of lease liabilities as of March 31, 2021 are as follows (in thousands): Operating Leases Finance Leases Total 2021 (9 months remaining) $ 139,653 $ 183,906 $ 323,559 2022 196,704 231,600 428,304 2023 181,741 226,851 408,592 2024 168,996 224,965 393,961 2025 160,384 221,551 381,935 Thereafter 1,037,936 2,084,622 3,122,558 Total lease payments 1,885,414 3,173,495 5,058,909 Plus amount representing residual property value — 16,363 16,363 Less imputed interest (485,684) (1,127,963) (1,613,647) Total $ 1,399,730 $ 2,061,895 $ 3,461,625

Debt Facilities (Tables)

Debt Facilities (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Summary of debt	As of March 31, 2021 and December 31, 2020, our mortgage and loans payable consisted of the following (in thousands): March 31, December 31, 2020 Term loans $ 1,234,094 $ 1,292,067 Mortgage payable and loans payable 75,842 78,903 1,309,936 1,370,970 Less amount representing unamortized debt discount and debt issuance cost (2,706) (3,288) Add amount representing unamortized mortgage premium 1,745 1,861 1,308,975 1,369,543 Less current portion (79,902) (82,289) Total $ 1,229,073 $ 1,287,254 As of March 31, 2021 and December 31, 2020, our senior notes consisted of the following (in thousands): March 31, 2021 December 31, 2020 Amount Effective Rate Amount Effective Rate 5.000% Infomart Senior Notes $ 150,000 4.51 % $ 150,000 4.51 % 2.625% Senior Notes due 2024 1,000,000 2.79 % 1,000,000 2.79 % 1.250% Senior Notes due 2025 500,000 1.46 % 500,000 1.46 % 1.000% Senior Notes Due 2025 700,000 1.18 % 700,000 1.18 % 2.900% Senior Notes due 2026 600,000 3.04 % 600,000 3.04 % 2.875% Euro Senior Notes due 2026 — — % 611,050 3.04 % 0.250% Euro Senior Notes due 2027 586,750 0.45 % — — % 1.800% Senior Notes due 2027 500,000 1.96 % 500,000 1.96 % 5.375% Senior Notes due 2027 1,250,000 5.51 % 1,250,000 5.51 % 1.550% Senior Notes due 2028 650,000 1.67 % 650,000 1.67 % 3.200% Senior Notes due 2029 1,200,000 3.30 % 1,200,000 3.30 % 2.150% Senior Notes due 2030 1,100,000 2.27 % 1,100,000 2.27 % 1.000% Euro Senior Notes due 2033 704,100 1.18 % — — % 3.000% Senior Notes due 2050 500,000 3.09 % 500,000 3.09 % 2.950% Senior Notes due 2051 500,000 3.00 % 500,000 3.00 % 9,940,850 9,261,050 Less amount representing unamortized debt issuance cost (105,489) (92,773) Add amount representing unamortized debt premium 3 186 9,835,364 9,168,463 Less current portion (150,003) (150,186) Total $ 9,685,361 $ 9,018,277
Summary of maturities of debt instruments	The following table sets forth maturities of our debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs, debt discounts and debt premiums, as of March 31, 2021 (in thousands): Years ending: 2021 (9 months remaining) $ 209,968 2022 1,214,144 2023 6,778 2024 1,006,322 2025 1,204,665 Thereafter 7,610,654 Total $ 11,252,531
Fair value of debt instruments	The following table sets forth the estimated fair values of our mortgage and loans payable and senior notes, including current maturities, as of (in thousands): March 31, December 31, Mortgage and loans payable $ 1,316,062 $ 1,379,129 Senior notes 9,915,009 9,705,486
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 2021 2020 Interest expense $ 89,681 $ 107,338 Interest capitalized 6,108 6,031 Interest charges incurred $ 95,789 $ 113,369

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Schedule of rollforward of stockholders' equity	The following tables provide a rollforward of our stockholders' equity for the three months ended March 31, 2021 and 2020 (in thousands, except share and per share data): AOCI (Loss) Retained Equinix Non-controlling Interests Total Stockholders' Equity Common Stock Treasury Stock Additional Accumulated Shares Amount Shares Amount Balance as of December 31, 2020 89,462,304 $ 89 (328,052) $ (122,118) $ 15,028,357 $ (5,119,274) $ (913,368) $ 1,760,302 $ 10,633,988 $ 130 $ 10,634,118 Net income — — — — — — — 156,362 156,362 (288) 156,074 Other comprehensive loss — — — — — — (95,480) — (95,480) (1) (95,481) Issuance of common stock and release of treasury stock for employee equity awards 428,618 1 11,640 4,332 35,701 — — — 40,034 — 40,034 Dividend distribution on common stock, $2.87 per share — — — — — (256,321) — — (256,321) — (256,321) Settlement of accrued dividends on vested equity awards — — — — — (437) — — (437) — (437) Accrued dividends on unvested equity awards — — — — — (3,661) — — (3,661) — (3,661) Stock-based compensation, net of estimated forfeitures — — — 102,349 — — — 102,349 — 102,349 Balance as of March 31, 2021 89,890,922 $ 90 (316,412) $ (117,786) $ 15,166,407 $ (5,379,693) $ (1,008,848) $ 1,916,664 $ 10,576,834 $ (159) $ 10,576,675 Additional Accumulated AOCI (Loss) Retained Equinix Non-controlling interests Total Stockholders' Equity Common Stock Treasury Stock Shares Amount Shares Amount Balance as of December 31, 2019 85,700,953 $ 86 (392,567) $ (144,256) $ 12,696,433 $ (4,168,469) $ (934,613) $ 1,391,425 $ 8,840,606 $ (224) $ 8,840,382 Adjustment from adoption of new accounting standard update — — — — — — — (900) (900) — (900) Net income — — — — — — — 118,792 118,792 165 118,957 Other comprehensive income — — — — — — (272,056) — (272,056) (11) (272,067) Issuance of common stock and release of treasury stock for employee equity awards 405,550 — 50,594 16,958 13,432 — — — 30,390 — 30,390 Issuance of common stock under ATM Program 162,530 — — — 101,791 — — — 101,791 — 101,791 Dividend distribution on common stock, $2.66 per share — — — — — (227,387) — — (227,387) — (227,387) Settlement of accrued dividends on vested equity awards — — — — 109 (403) — — (294) — (294) Accrued dividends on unvested equity awards — — — — — (3,268) — — (3,268) — (3,268) Stock-based compensation, net of estimated forfeitures — — — — 81,690 — — — 81,690 — 81,690 Balance as of March 31, 2020 86,269,033 $ 86 (341,973) $ (127,298) $ 12,893,455 $ (4,399,527) $ (1,206,669) $ 1,509,317 $ 8,669,364 $ (70) $ 8,669,294
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 December 31, Net Balance as of March 31, Foreign currency translation adjustment ("CTA") gain (loss) $ (508,415) $ (295,145) $ (803,560) Unrealized gain (loss) on cash flow hedges (1) (67,152) 29,478 (37,674) Net investment hedge CTA gain (loss) (1) (336,934) 170,175 (166,759) Net actuarial gain (loss) on defined benefit plans (2) (867) 12 (855) Accumulated other comprehensive loss attributable to Equinix $ (913,368) $ (95,480) $ (1,008,848) (1) Refer to Note 6 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income.
Schedule of stock-based compensation expense by operating expense category	The following table presents, by operating expense category, our stock-based compensation expense recognized in our condensed consolidated statements of operations (in thousands): Three Months Ended 2021 2020 Cost of revenues $ 8,467 $ 9,343 Sales and marketing 17,703 18,545 General and administrative 52,180 52,678 Total $ 78,350 $ 80,566

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 Americas EMEA Asia-Pacific Total Colocation (1) $ 487,459 $ 388,275 $ 254,558 $ 1,130,292 Interconnection 164,887 61,650 53,182 279,719 Managed infrastructure 38,485 32,111 22,749 93,345 Other (1) 2,038 5,046 493 7,577 Recurring revenues 692,869 487,082 330,982 1,510,933 Non-recurring revenues 33,071 31,635 20,425 85,131 Total $ 725,940 $ 518,717 $ 351,407 $ 1,596,064 (1) Includes some leasing and hedging activities. Three Months Ended March 31, 2020 Americas EMEA Asia-Pacific Total Colocation (1) $ 450,954 $ 362,330 $ 221,093 $ 1,034,377 Interconnection 150,929 48,541 42,671 242,141 Managed infrastructure 25,529 30,137 21,824 77,490 Other (1) 5,220 2,466 — 7,686 Recurring revenues 632,632 443,474 285,588 1,361,694 Non-recurring revenues 29,273 35,435 18,140 82,848 Total $ 661,905 $ 478,909 $ 303,728 $ 1,444,542 (1) Includes some leasing and hedging activities.
Schedule of adjusted EBITDA	We define adjusted EBITDA as income from operations excluding depreciation, amortization, accretion, stock-based compensation expense, restructuring charges, impairment charges, transaction costs and gain or loss on asset sales as presented below (in thousands): Three Months Ended 2021 2020 Adjusted EBITDA: Americas $ 344,492 $ 293,613 EMEA 243,563 230,158 Asia-Pacific 185,177 160,439 Total adjusted EBITDA 773,232 684,210 Depreciation, amortization and accretion expense (394,318) (337,431) Stock-based compensation expense (78,350) (80,566) Transaction costs (1,182) (11,530) Loss on asset sales (1,720) (1,199) Income from operations $ 297,662 $ 253,484
Segment disclosures	We also provide the following additional segment disclosures (in thousands): Three Months Ended 2021 2020 Depreciation and amortization: Americas $ 203,433 $ 171,074 EMEA 110,779 92,374 Asia-Pacific 80,805 72,421 Total $ 395,017 $ 335,869 Capital expenditures: Americas $ 205,174 $ 184,401 EMEA 235,416 122,128 Asia-Pacific 123,008 94,412 Total $ 563,598 $ 400,941
Segment long-lived assets	Our long-lived assets, including property, plant and equipment, net and operating lease right-of-use assets, located in the following geographic areas as of (in thousands): March 31, December 31, Americas $ 6,638,661 $ 6,429,861 EMEA 4,976,302 5,002,271 Asia-Pacific 3,153,698 3,070,952 Total Property, plant and equipment, net $ 14,768,661 $ 14,503,084 Americas $ 337,686 $ 363,515 EMEA 527,435 547,547 Asia-Pacific 540,714 563,995 Total Operating lease right-of-use assets $ 1,405,835 $ 1,475,057

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies - Narrative (Detail) - center	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Nov. 02, 2020	Oct. 01, 2020	Jan. 08, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effective income tax rate, continuing operations	17.30%	20.20%
Bell Data Centers
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Data centers purchased			1	12
Axtel
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Data centers purchased					3

Revenue - Opening and Closing B

Revenue - Opening and Closing Balances (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 684,642	$ 676,738
Increase in accounts receivables	7,904
Contract assets, current	29,671	13,534
Increase in contract asset, current	16,137
Contract assets, non-current	50,546	54,050
Increase in contract asset, non-current	(3,504)
Deferred revenue, current	105,283	101,258
Increase in deferred revenue, current	4,025
Deferred revenue, non-current	64,648	$ 71,242
Increase in deferred revenue, non-current	$ (6,594)

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, revenue recognized	$ 36.4
Revenue, remaining performance obligation	$ 8,200
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, requirement of payment, terms	24 months

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
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Net income	$ 156,074	$ 118,957
Net (income) loss attributable to non-controlling interests	288	(165)
Net income attributable to Equinix	$ 156,362	$ 118,792
Weighted-average shares used to calculate basic EPS (in shares)	89,330	85,551
Effect of dilutive securities:
Employee equity awards (in shares)	512	593
Weighted-average shares used to calculate diluted EPS (in shares)	89,842	86,144
Basic EPS (in dollars per share)	$ 1.75	$ 1.39
Diluted EPS (in dollars per share)	$ 1.74	$ 1.38

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
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Anti-dilutive potential shares of common stock excluded from computation of earnings per share (in shares)	148	45

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Detail) $ in Thousands, $ in Millions	Nov. 02, 2020CAD ($)center	Nov. 02, 2020USD ($)center	Mar. 02, 2020USD ($)	Jan. 08, 2020USD ($)center	Jun. 30, 2021CAD ($)center	Mar. 31, 2021USD ($)acquisition	Mar. 31, 2020USD ($)	Mar. 31, 2021acquisition	Oct. 01, 2020center
Business Acquisition [Line Items]
Stock-based compensation expense						$ 78,350	$ 80,566
Number of acquisitions | acquisition						3		3
Bell Data Centers
Business Acquisition [Line Items]
Data centers purchased | center	1	1							12
Consideration transferred	$ 934.3	$ 704,000
Bell Data Centers | Customer relationships | Measurement input, discount rate
Business Acquisition [Line Items]
Measurement input									0.080
Packet Host, Inc.
Business Acquisition [Line Items]
Consideration transferred			$ 290,300
Stock-based compensation expense							$ 16,100
Value of equity issued			$ 30,200
Vesting period of equity issued			3 years
Packet Host, Inc. | Trade names | Measurement input, royalty rate
Business Acquisition [Line Items]
Measurement input			0.010
Packet Host, Inc. | Trade names | Measurement input, discount rate
Business Acquisition [Line Items]
Measurement input			0.080
Packet Host, Inc. | Customer relationships | Measurement input, discount rate
Business Acquisition [Line Items]
Measurement input			0.080
Axtel
Business Acquisition [Line Items]
Data centers purchased | center				3
Consideration transferred				$ 189,000
Cash consideration for acquisition				175,000
Value added taxes				$ 14,000
Axtel | Customer relationships | Measurement input, discount rate
Business Acquisition [Line Items]
Measurement input				0.133
Bell, Packet and Axtel Acquisitions
Business Acquisition [Line Items]
Revenues from acquisitions included in results of operations						$ 48,500
Net loss of acquisitions included in earnings						$ 9,000
Forecast | GPX India Acquisition
Business Acquisition [Line Items]
Data centers purchased | center					2
Cash consideration for acquisition					$ 161

Acquisitions - Preliminary Purc

Acquisitions - Preliminary Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Oct. 01, 2020	Mar. 02, 2020	Jan. 08, 2020
Allocation of purchase price consideration
Goodwill	$ 5,387,601	$ 5,472,553
Packet Host, Inc.
Allocation of purchase price consideration
Cash and cash equivalents				$ 1,068
Accounts receivable				5,098
Other current assets				299
Property, plant and equipment				27,945
Operating lease right-of-use assets				1,519
Intangible assets				58,500
Goodwill				230,620
Deferred tax and other assets				138
Total assets acquired				325,187
Accounts payable and accrued liabilities				(1,275)
Other current liabilities				(860)
Operating lease liabilities				(1,519)
Finance lease liabilities				(27,945)
Deferred tax and other liabilities				(3,290)
Net assets acquired				$ 290,298
Axtel
Allocation of purchase price consideration
Cash and cash equivalents					$ 0
Accounts receivable					0
Other current assets					14,048
Property, plant and equipment					76,407
Operating lease right-of-use assets					1,646
Intangible assets					22,750
Goodwill					78,902
Deferred tax and other assets					0
Total assets acquired					193,753
Accounts payable and accrued liabilities					(238)
Other current liabilities					0
Operating lease liabilities					(1,586)
Finance lease liabilities					0
Deferred tax and other liabilities					(2,911)
Net assets acquired					$ 189,018
Bell Data Centers
Allocation of purchase price consideration
Cash and cash equivalents			$ 0
Accounts receivable			0
Other current assets			696
Property, plant and equipment			538,717
Operating lease right-of-use assets			14,359
Intangible assets			75,857
Goodwill			172,387
Deferred tax and other assets			722
Total assets acquired			802,738
Accounts payable and accrued liabilities			(895)
Other current liabilities			0
Operating lease liabilities			(13,340)
Finance lease liabilities			(80,026)
Deferred tax and other liabilities			(4,495)
Net assets acquired			$ 703,982

Acquisitions - Intangible Asset

Acquisitions - Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 02, 2020	Jan. 08, 2020	Nov. 02, 2020
Customer relationships | Packet Host, Inc.
Business Acquisition [Line Items]
Fair Value	$ 52,100
Estimated Useful Lives (Years)	10 years
Weighted-average Estimated Useful Lives (Years)	10 years
Customer relationships | Axtel
Business Acquisition [Line Items]
Fair Value		$ 22,750
Estimated Useful Lives (Years)		15 years
Weighted-average Estimated Useful Lives (Years)		15 years
Customer relationships | Bell Data Centers
Business Acquisition [Line Items]
Fair Value			$ 75,857
Estimated Useful Lives (Years)			15 years
Weighted-average Estimated Useful Lives (Years)			15 years
Trade names | Packet Host, Inc.
Business Acquisition [Line Items]
Fair Value	$ 1,300
Estimated Useful Lives (Years)	3 years
Weighted-average Estimated Useful Lives (Years)	3 years
Existing technology | Packet Host, Inc.
Business Acquisition [Line Items]
Fair Value	$ 5,100
Estimated Useful Lives (Years)	3 years
Weighted-average Estimated Useful Lives (Years)	3 years

Equity Method Investments - Sch

Equity Method Investments - Schedule of Equity Method Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 172,396	$ 163,071
EMEA Joint Venture with GIC | Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Ownership percentage	200.00%
Equity method investments	$ 105,532	101,892
Asia-Pacific Joint Venture with GIC | Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Ownership percentage	0.20%
Equity method investments	$ 50,347	43,432
Other | Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 16,517	$ 17,747

Equity Method Investments - Nar

Equity Method Investments - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 17, 2020
Schedule of Equity Method Investments [Line Items]
Contract assets, current	$ 29,671,000		$ 13,534,000
Finance lease right-of-use assets	1,816,380,000		1,688,032,000
Finance lease liability	2,061,895,000
EMEA Joint Venture with GIC
Schedule of Equity Method Investments [Line Items]
Equity contributions to joint venture	7,100,000
EMEA Joint Venture with GIC | Joint Venture
Schedule of Equity Method Investments [Line Items]
Contract assets, current	17,100,000
Other commitment	22,400,000
Accounts receivable, related party	7,700,000		6,500,000
Revenue, related party	7,200,000	$ 4,600,000
EMEA Joint Venture with GIC | Equity Contribution Commitment
Schedule of Equity Method Investments [Line Items]
Equity contribution commitment	24,900,000
EMEA Joint Venture with GIC | Fair Value, Inputs, Level 3 | Joint Venture
Schedule of Equity Method Investments [Line Items]
Contingent consideration, asset	$ 42,400,000		44,200,000
EMEA Joint Venture with GIC | Sublease, Equinix's London 10-2 Data Center | Joint Venture
Schedule of Equity Method Investments [Line Items]
Sublease, lease term (in years)	15 years
Rent expense	$ 4,500,000	$ 3,400,000
Finance lease right-of-use assets	128,200,000		127,200,000
Finance lease liability	132,500,000		130,800,000
EMEA Joint Venture with GIC | Frankfurt 2 Data Center Site, Land | Joint Venture
Schedule of Equity Method Investments [Line Items]
Lease not yet commenced, liability	17,200,000
Asia-Pacific Joint Venture with GIC | Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Equity contributions to joint venture	11,200,000
Ownership percentage				20.00%
Initial fair value of equity method investment				$ 42,600,000
Receivables from Asia-Pacific Joint Venture	14,200,000
Maximum exposure to loss	72,300,000
Asia-Pacific Joint Venture with GIC | Variable Interest Entity, Not Primary Beneficiary | Equity Contribution Commitment
Schedule of Equity Method Investments [Line Items]
Equity contribution commitment	$ 7,800,000
Asia-Pacific Joint Venture with GIC | Joint Venture Credit Facility Agreement | Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Secured debt			$ 305,200,000

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Narrative (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Derivative, notional amount		$ 3,300,000,000
Designated as hedging instruments: | Cross Currency Interest Rate Contract
Derivative [Line Items]
Derivative, notional amount	$ 3,300,000,000
Not designated as hedging instruments | Foreign currency forward contracts
Derivative [Line Items]
Derivative, notional amount	5,900,000,000	3,400,000,000
Net investment hedges | Designated as hedging instruments:
Derivative [Line Items]
Derivative, notional amount	2,200,000,000	1,900,000,000
Net investment hedges | Designated as hedging instruments: | Foreign Exchange Forward
Derivative [Line Items]
Derivative, notional amount	355,600,000	355,600,000
Cash flow hedges | Foreign currency forward and option contracts
Derivative [Line Items]
Derivative, notional amount	989,000,000	912,900,000
Net loss to be reclassified within the next 12 months, Foreign Currency Cash Flow Hedge	18,900,000	35,400,000
Cash flow hedges | Interest rate locks
Derivative [Line Items]
Derivative, notional amount	725,000,000	0
Net loss to be reclassified within the next 12 months, Interest Rate Cash Flow Hedge	3,600,000	$ 4,100,000
Derivative, notional aggregate amount settled	$ 0

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Net investment Hedges (Details) - Net investment hedges - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Amount of gain or (loss) recognized in accumulated other comprehensive income:
Total	$ 170,175	$ 144,946
Amount of gain or (loss) recognized in earnings:
Amount of gain or (loss) excluded from effectiveness testing included in income:	10,213	5,089
Foreign currency debt
Amount of gain or (loss) recognized in accumulated other comprehensive income:
Gain (loss) recognized in accumulated other comprehensive income (included component)	68,740	99,102
Cross-currency interest rate swap
Amount of gain or (loss) recognized in accumulated other comprehensive income:
Gain (loss) recognized in accumulated other comprehensive income (included component)	141,228	14,140
Gain (loss) recognized in accumulated other comprehensive income (excluded component)	(40,529)	31,704
Cross-currency interest rate swap | Interest Expense
Amount of gain or (loss) recognized in earnings:
Amount of gain or (loss) excluded from effectiveness testing included in income:	10,049	5,089
Foreign currency forward contracts
Amount of gain or (loss) recognized in accumulated other comprehensive income:
Gain (loss) recognized in accumulated other comprehensive income (included component)	708	0
Gain (loss) recognized in accumulated other comprehensive income (excluded component)	28	0
Foreign currency forward contracts | Interest Expense
Amount of gain or (loss) recognized in earnings:
Amount of gain or (loss) excluded from effectiveness testing included in income:	$ 164	$ 0

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Cash Flow Hedges (Details) - Cash flow hedges - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income:	$ 37,371	$ 3,111
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income:	(6,570)	10,387
Amount of gain or (loss) excluded from effectiveness testing included in income:	(181)	(521)
Foreign currency forward and option contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income:	31,374	28,025
Foreign currency option
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency option contracts (excluded component)	196	1,318
Foreign currency option | Revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) excluded from effectiveness testing included in income:	(181)	(521)
Interest rate locks
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income:	5,801	(26,232)
Interest rate locks | Interest Expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income:	(805)	168
Foreign Exchange Forward | Revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income:	(12,969)	21,219
Foreign Exchange Forward | Costs and operating expenses
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income:	$ 7,204	$ (11,000)

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	$ 57,082	$ 133,373
Embedded derivatives | Revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	4,495	7,451
Economic hedge of embedded derivatives | Revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	(4,213)	(7,902)
Foreign currency forward contracts | Other income (expense)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	$ 56,800	$ 133,824

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities - Fair Value of Derivative Instruments (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	$ 77,330	$ 11,699
Liabilities	164,850	400,459
Designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	21,087	351
Liabilities	151,379	262,784
Designated as hedging instruments: | Foreign currency forward and option contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	7,832	351
Liabilities	28,869	52,804
Designated as hedging instruments: | Interest rate locks
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	4,996	0
Liabilities	0	0
Designated as hedging instruments: | Cross-currency interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	8,259	0
Liabilities	100,499	192,939
Designated as hedging instruments: | Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	0	0
Liabilities	22,011	17,041
Not designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	56,243	11,348
Liabilities	13,471	137,675
Not designated as hedging instruments: | Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	50,919	3,721
Liabilities	9,644	133,805
Not designated as hedging instruments: | Embedded derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	5,324	3,255
Liabilities	1,604	3,858
Not designated as hedging instruments: | Economic hedge of embedded derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	0	4,372
Liabilities	$ 2,223	$ 12

Derivatives and Hedging Activ_8

Derivatives and Hedging Activities - Offsetting Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Derivative assets
Gross Amounts	$ 105,185	$ 38,447
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts	105,185	38,447
Gross Amounts not Offset in the Balance Sheet	(86,858)	(35,100)
Net	18,327	3,347
Derivative liabilities
Gross Amounts	181,461	415,628
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts	181,461	415,628
Gross Amounts not Offset in the Balance Sheet	(86,858)	(35,100)
Net	$ 94,603	$ 380,528

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Recurring - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets:
Publicly traded equity securities	$ 153	$ 159
Derivative instruments	77,330	11,699
Total financial assets	669,174	627,302
Liabilities:
Derivative instruments	164,850	400,459
Money market and deposit accounts
Assets:
Cash and cash equivalents	587,615	611,071
Certificates of deposit
Assets:
Cash and cash equivalents	4,076	4,373
Level 1
Assets:
Publicly traded equity securities	153	159
Derivative instruments	0	0
Total financial assets	587,768	611,230
Liabilities:
Derivative instruments	0	0
Level 1 | Money market and deposit accounts
Assets:
Cash and cash equivalents	587,615	611,071
Level 1 | Certificates of deposit
Assets:
Cash and cash equivalents	0	0
Level 2
Assets:
Publicly traded equity securities	0	0
Derivative instruments	77,330	11,699
Total financial assets	81,406	16,072
Liabilities:
Derivative instruments	164,850	400,459
Level 2 | Money market and deposit accounts
Assets:
Cash and cash equivalents	0	0
Level 2 | Certificates of deposit
Assets:
Cash and cash equivalents	$ 4,076	$ 4,373

Leases - Significant Lease Tran

Leases - Significant Lease Transactions (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)option	Dec. 31, 2020USD ($)
Lessee, Lease, Description [Line Items]
Finance lease right-of-use assets	$ 1,816,380	$ 1,688,032
Finance lease liability	2,061,895
Operating lease right-of-use assets	1,405,835	$ 1,475,057
Operating lease liability	1,399,730
Silicon Valley 8 ("SV8") data center lease extended (3)
Lessee, Lease, Description [Line Items]
Finance lease right-of-use assets	98,100
Finance lease liability	100,000
Operating lease right-of-use assets	(13,700)
Operating lease liability	$ (15,600)
Lease term	16 years
Number of renewal options | option	2
Finance lease renewal term	10 years
Hong Kong 3 ("HK3") data center lease extended (3)
Lessee, Lease, Description [Line Items]
Lease term	10 years
Finance lease renewal term	5 years
Hong Kong 3 ("HK3") data center lease extended (3) | Building
Lessee, Lease, Description [Line Items]
Finance lease right-of-use assets	$ 38,000
Finance lease liability	38,000
Hong Kong 3 ("HK3") data center lease extended (3) | Land
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	6,600
Operating lease liability	$ 6,600

Leases - Lease Expenses (Detail

Leases - Lease Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Finance lease cost
Amortization of right-of-use assets	$ 36,128	$ 25,166
Interest on lease liabilities	30,193	27,825
Total finance lease cost	66,321	52,991
Operating lease cost	56,454	53,791
Variable Lease, Cost	8,040	2,582
Total lease cost	$ 130,815	$ 109,364

Leases - Other Information (Det

Leases - Other Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$ 28,399	$ 26,967
Operating cash flows from operating leases	52,092	51,985
Financing cash flows from finance leases	32,584	18,977
Right-of-use assets obtained in exchange for lease obligations
Finance leases	186,981	115,274
Operating leases	$ (1,948)	$ 6,612
Weighted-average remaining lease term - finance leases	14 years		14 years
Weighted-average remaining lease term - operating leases	12 years		12 years
Weighted-average discount rate - finance leases	7.00%		7.00%
Weighted-average discount rate - operating leases	4.00%		4.00%
Finance lease right-of-use assets	$ 1,816,380		$ 1,688,032
Accumulated amortization, finance lease, right-of-use asset	$ 626,800		$ 604,100

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Operating Leases
2021 (9 months remaining)	$ 139,653
2022	196,704
2023	181,741
2024	168,996
2025	160,384
Thereafter	1,037,936
Total lease payments	1,885,414
Plus amount representing residual property value	0
Less imputed interest	(485,684)
Total	1,399,730
Finance Leases
2021 (9 months remaining)	183,906
2022	231,600
2023	226,851
2024	224,965
2025	221,551
Thereafter	2,084,622
Total lease payments	3,173,495
Plus amount representing residual property value	16,363
Less imputed interest	(1,127,963)
Total	2,061,895
Total
2021 (9 months remaining)	323,559
2022	428,304
2023	408,592
2024	393,961
2025	381,935
Thereafter	3,122,558
Total lease payments	5,058,909
Plus amount representing residual property value	16,363
Less imputed interest	(1,613,647)
Total	3,461,625
Lessee, Lease, Description [Line Items]
Lessee, Operating and Finance Leases Not Yet Commenced, Liability	$ 566,600
Minimum
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term	10 years
Maximum
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term	47 years

Debt Facilities - Mortgage and

Debt Facilities - Mortgage and Loans Payable (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long term debt, gross	$ 1,309,936	$ 1,370,970
Less the amount representing debt discount and debt issuance cost	(2,706)	(3,288)
Loans payable current and non current	1,308,975	1,369,543
Less current portion	(79,902)	(82,289)
Loans payable, noncurrent	1,229,073	1,287,254
Term loans
Debt Instrument [Line Items]
Long term debt, gross	1,234,094	1,292,067
Mortgage payable and other loans payable
Debt Instrument [Line Items]
Long term debt, gross	75,842	78,903
Mortgage
Debt Instrument [Line Items]
Add amount representing unamortized mortgage premium	$ 1,745	$ 1,861

Debt Facilities - Additional In

Debt Facilities - Additional Information (Details)	Mar. 24, 2021USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2021USD ($)credit	Mar. 31, 2020USD ($)	Dec. 31, 2017USD ($)	Mar. 15, 2021USD ($)	Mar. 10, 2021USD ($)	Mar. 10, 2021EUR (€)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Amount of debt discounts and debt issuance costs			$ 2,706,000						$ 3,288,000
Loss on debt extinguishment			13,058,000	$ 6,441,000
Interest paid, net of capitalized interest			94,900,000	$ 119,900,000
Line of Credit
Debt Instrument [Line Items]
Borrowing capacity					$ 3,000,000,000
Senior Notes
Debt Instrument [Line Items]
Debt issuance cost, net			$ 105,489,000						92,773,000
Senior Notes | 0.250% Euro Senior Notes due 2027
Debt Instrument [Line Items]
Aggregate principal debt amount issued							$ 594,900,000	€ 500,000,000
Interest rate (percent)			0.25%				0.25%	0.25%
Amount of debt discounts and debt issuance costs						$ 7,000,000
Senior Notes | 1.000% Euro Senior Notes due 2033
Debt Instrument [Line Items]
Aggregate principal debt amount issued							$ 713,800,000	€ 600,000,000
Interest rate (percent)			1.00%				1.00%	1.00%
Amount of debt discounts and debt issuance costs						$ 14,100,000
Senior Notes | 2.875% Euro Senior Notes due 2026
Debt Instrument [Line Items]
Interest rate (percent)	2.875%		2.875%
Redemption of senior debt	$ 590,700,000
Loss on debt extinguishment			$ 13,200,000
Redemption premium			8,500,000
Write off of unamortized debt issuance			$ 4,700,000
Senior Notes | 5.000% Infomart Senior Notes
Debt Instrument [Line Items]
Interest rate (percent)			5.00%
Letter of Credit | Line of Credit
Debt Instrument [Line Items]
Borrowing capacity			$ 250,000,000
Numbers of letters of credit outstanding | credit			37
Letters of credit outstanding, amount			$ 75,700,000
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Borrowing capacity					2,000,000,000
Proceeds from issuance of debt		$ 250,000,000
Amount available to borrow			1,900,000,000
Unsecured Debt | Line of Credit
Debt Instrument [Line Items]
Borrowing capacity					$ 1,000,000,000
Repay percentage					5.00%
Debt issuance cost, net			$ 1,200,000,000						$ 1,300,000,000
Unsecured Debt | Line of Credit | Minimum
Debt Instrument [Line Items]
Variable rate (percent)					1.00%
Unsecured Debt | Line of Credit | Maximum
Debt Instrument [Line Items]
Variable rate (percent)					1.70%
Unsecured Debt | Line of Credit | JPY Unsecured Term Loan
Debt Instrument [Line Items]
Aggregate principal debt amount issued					$ 424,700,000

Debt Facilities - Senior Notes

Debt Facilities - Senior Notes (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 24, 2021	Mar. 10, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long term debt, gross	$ 1,309,936			$ 1,370,970
Total long term debt	11,252,531
Senior Notes
Debt Instrument [Line Items]
Long term debt, gross	9,940,850			9,261,050
Less amount representing unamortized debt issuance cost	(105,489)			(92,773)
Add amount representing unamortized debt premium	3			186
Total long term debt	9,835,364			9,168,463
Less current portion	(150,003)			(150,186)
Total	9,685,361			9,018,277
Senior Notes | 5.000% Infomart Senior Notes
Debt Instrument [Line Items]
Long term debt, gross	$ 150,000			$ 150,000
Effective interest rate	4.51%			4.51%
Interest rate (percent)	5.00%
Senior Notes | 2.625% Senior Notes due 2024
Debt Instrument [Line Items]
Long term debt, gross	$ 1,000,000			$ 1,000,000
Effective interest rate	2.79%			2.79%
Interest rate (percent)	2.625%
Senior Notes | 1.250% Senior Notes due 2025
Debt Instrument [Line Items]
Long term debt, gross	$ 500,000			$ 500,000
Effective interest rate	1.46%			1.46%
Interest rate (percent)	1.25%
Senior Notes | 1.000% Senior Notes Due 2025
Debt Instrument [Line Items]
Long term debt, gross	$ 700,000			$ 700,000
Effective interest rate	1.18%			1.18%
Interest rate (percent)	1.00%
Senior Notes | 2.900% Senior Notes due 2026
Debt Instrument [Line Items]
Long term debt, gross	$ 600,000			$ 600,000
Effective interest rate	3.04%			3.04%
Interest rate (percent)	2.90%
Senior Notes | 2.875% Euro Senior Notes due 2026
Debt Instrument [Line Items]
Long term debt, gross	$ 0			$ 611,050
Effective interest rate	0.00%			3.04%
Interest rate (percent)	2.875%	2.875%
Senior Notes | 0.250% Euro Senior Notes due 2027
Debt Instrument [Line Items]
Long term debt, gross	$ 586,750			$ 0
Effective interest rate	0.45%			0.00%
Interest rate (percent)	0.25%		0.25%
Senior Notes | 1.800% Senior Notes due 2027
Debt Instrument [Line Items]
Long term debt, gross	$ 500,000			$ 500,000
Effective interest rate	1.96%			1.96%
Interest rate (percent)	1.80%
Senior Notes | 5.375% Senior Notes due 2027
Debt Instrument [Line Items]
Long term debt, gross	$ 1,250,000			$ 1,250,000
Effective interest rate	5.51%			5.51%
Interest rate (percent)	5.375%
Senior Notes | 1.550% Senior Notes due 2028
Debt Instrument [Line Items]
Long term debt, gross	$ 650,000			$ 650,000
Effective interest rate	1.67%			1.67%
Interest rate (percent)	1.55%
Senior Notes | 3.200% Senior Notes due 2029
Debt Instrument [Line Items]
Long term debt, gross	$ 1,200,000			$ 1,200,000
Effective interest rate	3.30%			3.30%
Interest rate (percent)	3.20%
Senior Notes | 2.150% Senior Notes due 2030
Debt Instrument [Line Items]
Long term debt, gross	$ 1,100,000			$ 1,100,000
Effective interest rate	2.27%			2.27%
Interest rate (percent)	2.15%
Senior Notes | 1.000% Euro Senior Notes due 2033
Debt Instrument [Line Items]
Long term debt, gross	$ 704,100			$ 0
Effective interest rate	1.18%			0.00%
Interest rate (percent)	1.00%		1.00%
Senior Notes | 3.000% Senior Notes due 2050
Debt Instrument [Line Items]
Long term debt, gross	$ 500,000			$ 500,000
Effective interest rate	3.09%			3.09%
Interest rate (percent)	3.00%
Senior Notes | 2.950% Senior Notes due 2051
Debt Instrument [Line Items]
Long term debt, gross	$ 500,000			$ 500,000
Effective interest rate	3.00%			3.00%
Interest rate (percent)	2.95%

Debt Facilities - Summary of Ma

Debt Facilities - Summary of Maturities of Debt Instruments (Detail) $ in Thousands	Mar. 31, 2021USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2021 (9 months remaining)	$ 209,968
2022	1,214,144
2023	6,778
2024	1,006,322
2025	1,204,665
Thereafter	7,610,654
Total long term debt	$ 11,252,531

Debt Facilities - Fair Value of

Debt Facilities - Fair Value of Debt Instruments (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Mortgage and loans payable	$ 1,316,062	$ 1,379,129
Senior notes	$ 9,915,009	$ 9,705,486

Debt Facilities - Interest Char

Debt Facilities - Interest Charges (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Debt Disclosure [Abstract]
Interest expense	$ 89,681	$ 107,338
Interest capitalized	6,108	6,031
Interest charges incurred	$ 95,789	$ 113,369

Commitments and Contingencies (

Commitments and Contingencies (Detail)	Mar. 31, 2021USD ($)
Indemnification Agreement
Other Commitments [Line Items]
Liabilities under guarantor agreements	$ 0
Indemnification Agreement Two
Other Commitments [Line Items]
Liabilities under guarantor agreements	0
Indemnification Agreement Three
Other Commitments [Line Items]
Liabilities under guarantor agreements	0
Service Level Credits Agreement
Other Commitments [Line Items]
Liabilities under guarantor agreements	0
Capital expenditures
Other Commitments [Line Items]
Purchase commitments	1,300,000,000
Miscellaneous purchase commitments
Other Commitments [Line Items]
Purchase commitments	$ 1,300,000,000

Stockholders' Equity - Rollforw

Stockholders' Equity - Rollforward (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	May 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)		89,134,252
Beginning balance		$ 10,634,118	$ 8,840,382
Net income		156,074	118,957
Other comprehensive income (loss)		(95,481)	(272,067)
Issuance of common stock and release of treasury stock for employee equity awards		40,034	30,390
Issuance of common stock (in shares)	2,587,500
Issuance of common stock	$ 1,700,000
Dividend distribution on common stock		(256,321)	(227,387)
Settlement of accrued dividends on vested equity awards		(437)	(294)
Accrued dividends on unvested equity awards		(3,661)	(3,268)
Stock-based compensation, net of estimated forfeitures		$ 102,349	81,690
Ending balance (in shares)		89,574,510
Ending balance		$ 10,576,675	8,669,294
Cumulative adjustment due to adoption of ASU
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			(900)
Equinix Stockholders' Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		10,633,988	8,840,606
Net income		156,362	118,792
Other comprehensive income (loss)		(95,480)	(272,056)
Issuance of common stock and release of treasury stock for employee equity awards		40,034	30,390
Dividend distribution on common stock		(256,321)	(227,387)
Settlement of accrued dividends on vested equity awards		(437)	(294)
Accrued dividends on unvested equity awards		(3,661)	(3,268)
Stock-based compensation, net of estimated forfeitures		102,349	81,690
Ending balance		$ 10,576,834	8,669,364
Equinix Stockholders' Equity | Cumulative adjustment due to adoption of ASU
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			$ (900)
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)		89,462,304	85,700,953
Beginning balance		$ 89	$ 86
Issuance of common stock and release of treasury stock for employee equity awards (in shares)		428,618	405,550
Issuance of common stock and release of treasury stock for employee equity awards		$ 1
Ending balance (in shares)		89,890,922	86,269,033
Ending balance		$ 90	$ 86
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)		328,052	392,567
Beginning balance		$ (122,118)	$ (144,256)
Issuance of common stock and release of treasury stock for employee equity awards (in shares)		11,640	50,594
Issuance of common stock and release of treasury stock for employee equity awards		$ 4,332	$ 16,958
Ending balance (in shares)		316,412	341,973
Ending balance		$ (117,786)	$ (127,298)
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		15,028,357	12,696,433
Issuance of common stock and release of treasury stock for employee equity awards		35,701	13,432
Settlement of accrued dividends on vested equity awards			109
Stock-based compensation, net of estimated forfeitures		102,349	81,690
Ending balance		15,166,407	12,893,455
Accumulated Dividends
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		(5,119,274)	(4,168,469)
Dividend distribution on common stock		(256,321)	(227,387)
Settlement of accrued dividends on vested equity awards		(437)	(403)
Accrued dividends on unvested equity awards		(3,661)	(3,268)
Ending balance		(5,379,693)	(4,399,527)
AOCI (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		(913,368)	(934,613)
Other comprehensive income (loss)		(95,480)	(272,056)
Ending balance		(1,008,848)	(1,206,669)
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		1,760,302	1,391,425
Net income		156,362	118,792
Ending balance		1,916,664	1,509,317
Retained Earnings | Cumulative adjustment due to adoption of ASU
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			(900)
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		130	(224)
Net income		(288)	165
Other comprehensive income (loss)		(1)	(11)
Ending balance		$ (159)	(70)
ATM Program
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock			101,791
ATM Program | Equinix Stockholders' Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock			$ 101,791
ATM Program | Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)			162,530
ATM Program | Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock			$ 101,791

Stockholders' Equity - Rollfo_2

Stockholders' Equity - Rollforward - Additional Information (Details) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Equity [Abstract]
Dividend distribution on common stock (in dollars per share)	$ 2.87	$ 2.66

Stockholders' Equity - Componen

Stockholders' Equity - Components of Accumulated Other Comprehensive Loss (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)plancountry	Mar. 31, 2020USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 10,634,118	$ 8,840,382
Net Change	(95,481)	(272,067)
Ending balance	$ 10,576,675	8,669,294
Number of defined benefit pension plans | plan	2
Number of countries with a defined benefit pension plan | country	2
Accumulated other comprehensive loss attributable to Equinix
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ (913,368)	(934,613)
Net Change	(95,480)	(272,056)
Ending balance	(1,008,848)	$ (1,206,669)
Foreign currency translation adjustment (“CTA”) loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(508,415)
Net Change	(295,145)
Ending balance	(803,560)
Unrealized gain (loss) on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(67,152)
Net Change	29,478
Ending balance	(37,674)
Net investment hedge CTA gain (loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(336,934)
Net Change	170,175
Ending balance	(166,759)
Net actuarial gain (loss) on defined benefit plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(867)
Net Change	12
Ending balance	$ (855)

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Detail) - USD ($)	1 Months Ended	3 Months Ended
	May 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Oct. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock in public offering of common stock (in shares)	2,587,500
Issuance of common stock in public offering of common stock	$ 1,700,000,000
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, approved (in shares)		646,388
Weighted-average grant date fair value (in dollars per share)		$ 650.40
Service period (in years)		3 years 6 months 7 days
2020 ATM Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock in public offering of common stock (in shares)		0
Sale of stock, equity offering agreement, authorized				$ 1,500,000,000
Legacy ATM Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock in public offering of common stock (in shares)			162,530
Issuance of common stock in public offering of common stock			$ 101,800,000

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
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 78,350	$ 80,566
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	8,467	9,343
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	17,703	18,545
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 52,180	$ 52,678

Segment Information - Narrative

Segment Information - Narrative (Detail)	3 Months Ended
	Mar. 31, 2021segment
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
	Mar. 31, 2021	Mar. 31, 2020
Revenue from External Customer [Line Items]
Revenues	$ 1,596,064	$ 1,444,542
Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	1,510,933	1,361,694
Colocation
Revenue from External Customer [Line Items]
Revenues	1,130,292	1,034,377
Interconnection
Revenue from External Customer [Line Items]
Revenues	279,719	242,141
Managed infrastructure services
Revenue from External Customer [Line Items]
Revenues	93,345	77,490
Service, Other
Revenue from External Customer [Line Items]
Revenues	7,577	7,686
Non-Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	85,131	82,848
Americas
Revenue from External Customer [Line Items]
Revenues	725,940	661,905
Americas | Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	692,869	632,632
Americas | Colocation
Revenue from External Customer [Line Items]
Revenues	487,459	450,954
Americas | Interconnection
Revenue from External Customer [Line Items]
Revenues	164,887	150,929
Americas | Managed infrastructure services
Revenue from External Customer [Line Items]
Revenues	38,485	25,529
Americas | Service, Other
Revenue from External Customer [Line Items]
Revenues	2,038	5,220
Americas | Non-Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	33,071	29,273
EMEA
Revenue from External Customer [Line Items]
Revenues	518,717	478,909
EMEA | Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	487,082	443,474
EMEA | Colocation
Revenue from External Customer [Line Items]
Revenues	388,275	362,330
EMEA | Interconnection
Revenue from External Customer [Line Items]
Revenues	61,650	48,541
EMEA | Managed infrastructure services
Revenue from External Customer [Line Items]
Revenues	32,111	30,137
EMEA | Service, Other
Revenue from External Customer [Line Items]
Revenues	5,046	2,466
EMEA | Non-Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	31,635	35,435
Asia-Pacific
Revenue from External Customer [Line Items]
Revenues	351,407	303,728
Asia-Pacific | Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	330,982	285,588
Asia-Pacific | Colocation
Revenue from External Customer [Line Items]
Revenues	254,558	221,093
Asia-Pacific | Interconnection
Revenue from External Customer [Line Items]
Revenues	53,182	42,671
Asia-Pacific | Managed infrastructure services
Revenue from External Customer [Line Items]
Revenues	22,749	21,824
Asia-Pacific | Service, Other
Revenue from External Customer [Line Items]
Revenues	493	0
Asia-Pacific | Non-Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	$ 20,425	$ 18,140

Segment Information - Schedule

Segment Information - Schedule of Adjusted EBITDA (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Total adjusted EBITDA	$ 773,232	$ 684,210
Depreciation, amortization and accretion expense	(394,318)	(337,431)
Stock-based compensation expense	(78,350)	(80,566)
Transaction costs	(1,182)	(11,530)
Loss on asset sales	(1,720)	(1,199)
Income from operations	297,662	253,484
Americas
Segment Reporting Information [Line Items]
Total adjusted EBITDA	344,492	293,613
EMEA
Segment Reporting Information [Line Items]
Total adjusted EBITDA	243,563	230,158
Asia-Pacific
Segment Reporting Information [Line Items]
Total adjusted EBITDA	$ 185,177	$ 160,439

Segment Information - Segment D

Segment Information - Segment Disclosures (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Total depreciation and amortization	$ 395,017	$ 335,869
Capital expenditures	563,598	400,941
Americas
Segment Reporting Information [Line Items]
Total depreciation and amortization	203,433	171,074
Capital expenditures	205,174	184,401
EMEA
Segment Reporting Information [Line Items]
Total depreciation and amortization	110,779	92,374
Capital expenditures	235,416	122,128
Asia-Pacific
Segment Reporting Information [Line Items]
Total depreciation and amortization	80,805	72,421
Capital expenditures	$ 123,008	$ 94,412

Segment Information - Long-Live

Segment Information - Long-Lived Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	$ 14,768,661	$ 14,503,084
Operating lease right-of-use assets	1,405,835	1,475,057
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	6,638,661	6,429,861
Operating lease right-of-use assets	337,686	363,515
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	4,976,302	5,002,271
Operating lease right-of-use assets	527,435	547,547
Asia-Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	3,153,698	3,070,952
Operating lease right-of-use assets	$ 540,714	$ 563,995

Subsequent Events (Details)

Subsequent Events (Details)	Apr. 28, 2021$ / shares
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared (in dollars per share)	$ 2.87

Uncategorized Items - eqix-2021

Label	Element	Value
Restricted Cash and Cash Equivalents, Current	us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue	$ 6,483,000
Restricted Cash and Cash Equivalents, Current	us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue	9,702,000
Restricted Cash and Cash Equivalents, Noncurrent	us-gaap_RestrictedCashAndCashEquivalentsNoncurrent	8,689,000
Restricted Cash and Cash Equivalents, Noncurrent	us-gaap_RestrictedCashAndCashEquivalentsNoncurrent	$ 9,112,000