Equinix (EQIX) 10-Q 29 Apr 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 28, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-40205
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		91,021,802
Entity Central Index Key	0001101239
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
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, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,695,305	$ 1,536,358
Accounts receivable, net of allowance of $14,001 and $11,635	780,404	681,809
Other current assets	471,894	462,739
Assets held for sale	115,193	276,195
Total current assets	3,062,796	2,957,101
Property, plant and equipment, net	15,512,991	15,445,775
Operating lease right-of-use assets	1,234,257	1,282,418
Goodwill	5,316,079	5,372,071
Intangible assets, net	1,877,541	1,935,267
Other assets	1,019,569	926,066
Total assets	28,023,233	27,918,698
Current liabilities:
Accounts payable and accrued expenses	811,157	879,144
Accrued property, plant and equipment	236,608	187,334
Current portion of operating lease liabilities	146,239	144,029
Current portion of finance lease liabilities	148,411	147,841
Current portion of mortgage and loans payable	31,993	33,087
Other current liabilities	232,606	214,519
Total current liabilities	1,607,014	1,605,954
Operating lease liabilities, less current portion	1,060,078	1,107,180
Finance lease liabilities, less current portion	2,027,228	1,989,668
Mortgage and loans payable, less current portion	691,523	586,577
Senior notes, less current portion	10,953,832	10,984,144
Other liabilities	740,748	763,411
Total liabilities	17,080,423	17,036,934
Commitments and contingencies (Note 11)
Equinix stockholders' equity
Common stock, $0.001 par value per share: 300,000,000 shares authorized; 91,303,799 issued and 91,013,824 outstanding in 2022 and 90,872,826 issued and 90,571,406 outstanding in 2021	91	91
Additional paid-in capital	16,145,424	15,984,597
Treasury stock, at cost; 289,975 shares in 2022 and 301,420 shares in 2021	(107,949)	(112,208)
Accumulated dividends	(6,449,713)	(6,165,140)
Accumulated other comprehensive loss	(1,052,914)	(1,085,751)
Retained earnings	2,407,946	2,260,493
Total Equinix stockholders' equity	10,942,885	10,882,082
Non-controlling interests	(75)	(318)
Total stockholders' equity	10,942,810	10,881,764
Total liabilities and stockholders' equity	$ 28,023,233	$ 27,918,698

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 14,001	$ 11,635
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)	91,303,799	90,872,826
Common stock, shares outstanding (shares)	91,013,824	90,571,406
Treasury stock (shares)	289,975	301,420

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenues	$ 1,734,447	$ 1,596,064
Costs and operating expenses:
Cost of revenues	915,875	811,217
Sales and marketing	192,511	182,827
General and administrative	352,687	301,456
Transaction costs	4,240	1,182
Loss on asset sales	1,818	1,720
Total costs and operating expenses	1,467,131	1,298,402
Income from operations	267,316	297,662
Interest income	2,106	729
Interest expense	(79,965)	(89,681)
Other expense	(9,549)	(6,950)
Gain (loss) on debt extinguishment	529	(13,058)
Income before income taxes	180,437	188,702
Income tax expense	(32,744)	(32,628)
Net income	147,693	156,074
Net (income) loss attributable to non-controlling interests	(240)	288
Net income attributable to Equinix	$ 147,453	$ 156,362
Earnings per share ("EPS") attributable to Equinix:
Basic EPS (in dollars per share)	$ 1.62	$ 1.75
Weighted-average shares for basic EPS (in shares)	90,771	89,330
Diluted EPS (in dollars per share)	$ 1.62	$ 1.74
Weighted-average shares for diluted EPS (in shares)	91,162	89,842

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 147,693	$ 156,074
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment ("CTA") loss, net of tax effects of $0 and $0	(122,534)	(295,146)
Net investment hedge CTA gain, net of tax effect of $0 and $0	91,358	170,175
Unrealized gain on cash flow hedges, net of tax effects of $(4,727) and $(7,892)	64,037	29,478
Net actuarial gain (loss) on defined benefit plans, net of tax effects of $4 and $(5)	(21)	12
Total other comprehensive income (loss), net of tax	32,840	(95,481)
Comprehensive income, net of tax	180,533	60,593
Net (income) loss attributable to non-controlling interests	(240)	288
Other comprehensive (income) loss attributable to non-controlling interests	(3)	1
Comprehensive income attributable to Equinix	$ 180,290	$ 60,882

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment (CTA) loss, tax	$ 0	$ 0
Net investment hedge CTA gain, tax effect	0	0
Unrealized gain on cash flow hedges, tax	(4,727)	(7,892)
Net actuarial gain (loss) on defined benefit plans, tax	$ 4	$ (5)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income	$ 147,693	$ 156,074
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	385,771	341,622
Stock-based compensation	89,952	78,350
Amortization of intangible assets	49,569	53,395
Amortization of debt issuance costs and debt discounts and premiums	4,204	3,940
Provision for credit loss allowance	3,406	2,740
Loss on asset sales	1,818	1,720
(Gain) loss on debt extinguishment	(529)	13,058
Other items	3,690	7,743
Changes in operating assets and liabilities:
Accounts receivable	(100,727)	(17,620)
Income taxes, net	13,881	(10,274)
Other assets	6,115	(73,255)
Operating lease right-of-use assets	35,400	40,924
Operating lease liabilities	(31,740)	(36,563)
Accounts payable and accrued expenses	(75,980)	(76,362)
Other liabilities	48,600	(94,334)
Net cash provided by operating activities	581,123	391,158
Cash flows from investing activities:
Purchases of investments	(38,558)	(22,406)
Sales of investments	0	4,057
Real estate acquisitions	(3,074)	(53,737)
Purchases of other property, plant and equipment	(412,518)	(563,598)
Proceeds from sale of assets, net of cash transferred	195,391	0
Net cash used in investing activities	(258,759)	(635,684)
Cash flows from financing activities:
Proceeds from employee equity awards	43,876	40,034
Payment of dividends	(289,669)	(263,039)
Proceeds from senior notes, net of debt discounts	0	1,290,752
Proceeds from mortgage and loans payable	676,850	0
Repayments of finance lease liabilities	(40,773)	(32,584)
Repayments of mortgage and loans payable	(551,833)	(20,186)
Repayment of senior notes	0	(590,650)
Debt extinguishment costs	0	(8,521)
Debt issuance costs	(7,366)	(3,152)
Net cash (used in) provided by financing activities	(168,915)	412,654
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash	4,593	(22,019)
Net increase in cash, cash equivalents and restricted cash	158,042	146,109
Cash, cash equivalents and restricted cash at beginning of period	1,549,454	1,625,695
Cash, cash equivalents and restricted cash at end of period	1,707,496	1,771,804
Cash and cash equivalents	1,695,305	1,752,990
Current portion of restricted cash included in other current assets	11,295	9,702
Non-current portion of restricted cash included in other assets	896	9,112
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows	$ 1,707,496	$ 1,771,804

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
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, 2021 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 18, 2022. 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 acquisition of two data centers in Mumbai, India from the India operations of GPX Global Systems, Inc. ("GPX India") from September 1, 2021. All intercompany accounts and transactions have been eliminated in consolidation. Income Taxes We elected to be taxed as a real estate investment trust for U.S. federal income tax purposes ("REIT") beginning with our 2015 taxable year. As a result, we may deduct the dividends paid 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 accrue 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 18.2% and 17.3% for the three months ended March 31, 2022 and 2021, respectively. Recent Accounting Pronouncements Accounting Standards Not Yet Adopted In October 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2021-08 Business Combinations ("Topic 805"): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The ASU requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. Under the current business combinations guidance, such assets and liabilities were recognized by the acquirer at fair value on the acquisition date. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted. 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 Income Taxes 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. Debt with Conversion and Other Options In August 2020, FASB issued 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. On January 1, 2022, 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.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2022
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 assets, current; contract assets, 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, 2022 $ 681,809 $ 65,392 $ 55,486 $ 109,736 $ 87,495 Closing balances as of March 31, 2022 780,404 65,948 56,226 115,055 84,374 Increase (Decrease) $ 98,595 $ 556 $ 740 $ 5,319 $ (3,121) (1) The net change in our allowance for credit losses was insignificant during the three months ended March 31, 2022. 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, 2022 from the opening deferred revenue balance as of January 1, 2022 was $29.9 million. Remaining performance obligations As of March 31, 2022, approximately $9.2 billion of total revenues, including deferred installation revenues, are expected to be recognized in future periods. Most of our revenue contracts have an initial term varying from one The remaining performance obligations do not include variable consideration related to unsatisfied performance obligations such as the usage of metered power, point-in-time services, 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, 2022
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 2022 2021 Net income $ 147,693 $ 156,074 Net (income) loss attributable to non-controlling interests (240) 288 Net income attributable to Equinix $ 147,453 $ 156,362 Weighted-average shares used to calculate basic EPS 90,771 89,330 Effect of dilutive securities: Employee equity awards 391 512 Weighted-average shares used to calculate diluted EPS 91,162 89,842 EPS attributable to Equinix: Basic EPS $ 1.62 $ 1.75 Diluted EPS $ 1.62 $ 1.74

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Pending Acquisitions Acquisition of Empresa Nacional De Telecomunicaciones S.A. ("Entel") Chile Data Centers (the "Entel Chile Acquisition") and Peru Data Center (the "Entel Peru Acquisition") On March 18, 2022, we announced our planned expansion in Latin America through an acquisition of data centers from Entel, a leading Chilean telecommunications provider. Our planned expansion includes four data centers in Chile for a purchase price of UF16.7 million, or approximately $664.0 million at the exchange rate in effect on that date. The acquisition of the four data centers in Chile is expected to close in the second quarter of 2022, subject to customary conditions. On April 27, 2022, we signed an agreement with Entel to acquire a data center in Peru for a purchase price of PEN270.8 million, or approximately $70.7 million at the exchange rate in effect on that date. The acquisition of the data center in Peru is pending the achievement of certain closing conditions, for which the timing is uncertain, and will be accounted for as a separate transaction. After close of the acquisitions, the operating results of the acquired data centers will be reported in the Americas region. The Entel acquisitions support our ongoing expansion to meet customer demand in the Latin American market. 2022 Acquisition Acquisition of MainOne Cable Company Ltd. (the "MainOne Acquisition") On April 1, 2022, we completed the acquisition of all outstanding shares of MainOne Cable Company Ltd. ("MainOne"), consisting of four data centers as well as a subsea cable and terrestrial fiber network. We acquired MainOne and its assets in an all-cash transaction at a purchase price of approximately $320.0 million. The MainOne Acquisition supports our desire to meet customer demand in the West African market. After close of the acquisition, the operating results of the acquired business will be reported in the EMEA region. The valuation of assets acquired and liabilities assumed are still being appraised by a third-party and as such, the purchase price allocation is not yet complete. 2021 Acquisition Acquisition of GPX India (the "GPX India Acquisition") On September 1, 2021, we completed the acquisition of GPX India, representing two data centers in Mumbai, India, for a total purchase consideration of approximately INR12.5 billion, or $170.5 million at the exchange rate in effect on that date. The GPX India Acquisition supports our desire to meet customer demand in the Indian market. Purchase Price Allocation The GPX India Acquisition constitutes a business under the accounting standard for business combinations and, therefore, was accounted for as a business combination using the acquisition method of accounting. Under this method, 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, 2022, we had completed the detailed valuation analysis to derive the fair value of assets acquired and liabilities assumed from the GPX India Acquisition, including property, plant and equipment, intangible assets and the related tax impacts. A summary of the final allocation of total purchase consideration is presented as follows (in thousands): GPX India (1) Final Cash and cash equivalents $ 9,406 Accounts receivable 4,399 Other current assets 8,883 Property, plant and equipment 88,130 Operating lease right-of-use assets 62 Intangible assets 15,408 Goodwill 77,145 Deferred tax and other assets 20 Total assets acquired 203,453 Accounts payable and accrued liabilities (1,566) Other current liabilities (478) Operating lease liabilities (62) Finance lease liabilities (20,565) Deferred tax and other liabilities (10,317) Net assets acquired $ 170,465 (1) The purchase price allocation adjustments since the provisional amounts reported as of December 31, 2021 were not significant. Property, plant and equipment - The fair values of property, plant and equipment acquired from the GPX India Acquisition was 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) Discount Rate GPX India: Customer relationships (1) $ 15,408 15.0 15.0 11.0 % (1) The fair value was estimated by calculating the present value of estimated future operating cash flows generated from existing customers less costs to realize the revenue. The rates reflect 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. 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 the acquisition. Goodwill from the GPX India Acquisition is attributable to the Asia-Pacific region and is not deductible for local tax purposes.

Assets Held for Sale

Assets Held for Sale	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Assets Held for Sale	Assets Held for Sale In June 2021, we entered into an agreement to form another joint venture in the form of a limited liability partnership with GIC Private Limited, Singapore's sovereign wealth fund ("GIC"), to develop and operate additional xScale data centers in Europe and the Americas (the “EMEA 2 Joint Venture”). The transaction is structured to close in phases over the course of two years, pending regulatory approval and other closing conditions. The assets and liabilities of the Warsaw 4 ("WA4") data center site, which are currently included within our EMEA region and are expected to be sold to the EMEA 2 Joint Venture in a future phase, were classified as held for sale as of June 30, 2021 and remained held for sale as of March 31, 2022. In October 2021, we entered into an agreement to form a joint venture in the form of a limited liability partnership with PGIM Real Estate ("PGIM"), to develop and operate xScale TM data centers in Asia-Pacific (the "Asia-Pacific 2 Joint Venture"). xScale data centers are engineered to meet the technical and operational requirements and price points of core hyperscale workload deployments and also offer access to our comprehensive suite of interconnection and edge services. The assets and liabilities of the Sydney 9 ("SY9") data center site, which were included within our Asia-Pacific region, were classified as held for sale as of September 30, 2021. Upon closing the joint venture in March 2022, we sold the SY9 data center in exchange for a total consideration of $201.3 million, which is comprised of $165.6 million of net cash proceeds, a 20% partnership interest in the Asia-Pacific 2 Joint Venture with a fair value of $29.8 million, and $5.9 million of receivables. During the three months ended March 31, 2022, we recognized an insignificant loss on the sale of the SY9 data center. In March 2022, we entered into an agreement to sell the Mexico 3 ("MX3") data center site in connection with the formation of a new joint venture with GIC (the "AMER 1 Joint Venture") to develop and operate xScale data centers in the Americas. Given that the key terms of the sale had been substantially agreed upon as of September 30, 2021, the assets and liabilities of the MX3 data center, which are currently included within our Americas region, were classified as held for sale as of September 30, 2021 and remained held for sale as of March 31, 2022. All assets and liabilities classified as held for sale are reported at the lower of their carrying amounts or fair values less costs to sell. The following table summarizes the assets and liabilities that were classified as assets and liabilities held for sale in the condensed consolidated balance sheet as of March 31, 2022 (in thousands): March 31, Operating lease right-of-use assets $ 12,403 Property, plant and equipment 99,600 Other assets 3,190 Total assets held for sale $ 115,193 Current portion of operating lease liabilities $ 2,039 Operating lease liabilities, less current portion 348 Accrued property, plant and equipment 16,080 Total liabilities held for sale (1) $ 18,467 (1) Liabilities held for sale were included within other current liabilities on the condensed consolidated balance sheet.

Equity Method Investments

Equity Method Investments	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Equity Method Investments The following table summarizes our equity method investments (in thousands), which were included in other assets on the condensed consolidated balance sheets: Investee Ownership Percentage March 31, 2022 December 31, 2021 EMEA 1 Joint Venture with GIC 20% $ 127,827 $ 131,516 EMEA 2 Joint Venture with GIC 20% 35,255 34,944 Asia-Pacific 1 Joint Venture with GIC 20% 64,188 60,108 Asia-Pacific 2 Joint Venture with PGIM 20% 30,286 — Other Various 19,759 18,481 Total $ 277,315 $ 245,049 Non - Variable Interest Entity ("VIE") Joint Venture EMEA 1 Joint Venture In 2019, we entered into a joint venture in the form of a limited liability partnership with GIC (the "EMEA 1 Joint Venture"), to develop and operate xScale data centers in Europe. The EMEA 1 Joint Venture is not a VIE given that both equity investors' interests 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. Our share of income and losses of equity method investments from this joint venture was insignificant for the three months ended March 31, 2022 and 2021 and was included in other income (expense) on the condensed consolidated statement of operations. We committed to make future equity contributions to the EMEA 1 Joint Venture for funding its future development. As of March 31, 2022, we had future equity contribution commitments of $45.1 million. VIE Joint Ventures Asia-Pacific 1, Asia-Pacific 2 and EMEA 2 Joint Ventures (the "VIE Joint Ventures") In 2020, we entered into a joint venture in the form of a limited liability partnership with GIC (the "Asia-Pacific 1 Joint Venture") to develop and operate xScale data centers in Asia-Pacific. In 2021, we entered into the EMEA 2 Joint Venture with GIC to develop and operate additional xScale data centers in Europe and the Americas (see Note 5 above). On March 11, 2022, we entered into the Asia-Pacific 2 Joint Venture with PGIM to develop and operate additional xScale data centers in Asia-Pacific (see Note 5 above). For the VIE Joint Ventures, we provide certain management services to their operations and earn fees for the performance of such services. The joint ventures do not have sufficient funds from operations to be self-sustaining, thus are considered VIEs. The power to direct the activities of these joint ventures that most significantly impact economic performance is shared equally between us and either GIC or PGIM, as applicable. 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 Equinix and either GIC or PGIM, as applicable. We concluded that neither party is deemed to have predominant control over the VIE Joint Ventures and neither party is considered to be the primary beneficiary. During the three months ended March 31, 2022, our share of income and losses of equity method investments from these joint ventures was insignificant both individually and in aggregate, and was included in other income (expense) on the condensed consolidated statement of operations. The following table summarizes our maximum exposure to loss related to the VIE Joint Ventures as of March 31, 2022 (in thousands): Asia-Pacific 1 Joint Venture EMEA 2 Joint Venture Asia-Pacific 2 Joint Venture Equity Investment $ 64,188 $ 35,255 $ 30,286 Outstanding Receivables 2,124 18,676 6,950 Future Equity Contribution Commitments (1) 2,030 67,033 1,086 Maximum Future Payments under Debt Guarantees (2) N/A (3) 37,133 N/A (3) Total $ 68,342 $ 158,097 $ 38,322 (1) The joint ventures' partners are required to make additional equity contributions proportionately upon certain occurrences, such as a shortfall in capital necessary to complete certain construction phases or make interest payments on their outstanding debt. (2) In connection with our 20% equity investment in the EMEA 2 Joint Venture, we provided the lenders with our guarantees covering 20% of all payments of principal and interest due under EMEA 2 Joint Venture's credit facility agreements (see Note 11). (3) The joint venture’s debt is secured by the net assets of the respective joint venture without recourse to its partners. Other Related Party Transactions We have lease arrangements and provide various services to the EMEA 1 Joint Venture, Asia-Pacific 1 Joint Venture, EMEA 2 Joint Venture and Asia-Pacific 2 Joint Venture (the "Joint Ventures") through multiple agreements, including sales and marketing, development management, facilities management, and asset management. These transactions are generally considered to have been negotiated at arm's length. The following table presents the revenues and expenses from these arrangements with the Joint Ventures in our condensed consolidated statements of operations (in thousands): Three Months Ended Related Party Nature of Transaction 2022 2021 EMEA 1 Joint Venture Revenues $ 6,302 $ 7,189 EMEA 1 Joint Venture Expenses (1) 4,328 4,541 Asia-Pacific 1 Joint Venture Revenues 2,811 — EMEA 2 Joint Venture Revenues 4,107 — Asia-Pacific 2 Joint Venture Revenues 85 — (1) We have a sub-lease agreement with the EMEA 1 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. Balances primarily consist of rent expenses for the LD10-2 data center. The following table presents the assets and liabilities from related party transactions with the Joint Ventures in our condensed consolidated balance sheets (in thousands): Related Party Balance Sheet Line Item March 31, 2022 December 31, 2021 EMEA 1 Joint Venture Receivables $ 36,099 $ 32,077 Contract Assets (1) 54,132 54,503 Finance Lease Right of Use Assets 113,081 118,817 Other Liabilities and Payables 1,011 2,483 Other Liabilities and Payables - construction obligation (2) 41,453 39,382 Deferred Revenue 16,375 16,886 Finance Lease Right of Use Liabilities 119,539 124,918 Asia-Pacific 1 Joint Venture Receivables 2,124 2,124 Payables — 121 EMEA 2 Joint Venture Receivables 18,676 26,953 Contract Assets 1,753 1,492 Payables 2,049 1,755 Asia-Pacific 2 Joint Venture Receivables 6,950 — (1) A portion of the EMEA 1 Joint Venture contract asset balance relates to commitments to complete a residual portion of the Paris 9 data center sold to the EMEA 1 Joint Venture, which is reimbursable in full upon completion. (2) The balance primarily relates to the obligation to pay for future construction for certain sites sold as a part of the EMEA 1 Joint Venture transaction. We received contingent consideration from the sales of xScale data centers to the EMEA 1 Joint Venture, which become receivable upon completion of certain performance milestones, primarily contingent on the local regulatory approvals for certain sites. The contingent consideration 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, 2022 and December 31, 2021, the total fair value of the remaining contingent consideration was $5.1 million and $5.3 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.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Mar. 31, 2022
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 both March 31, 2022 and December 31, 2021, the total principal amounts of foreign currency debt obligations designated as net investment hedges was $1.5 billion. We also use cross-currency interest rate swaps, which effectively convert a portion of our U.S. dollar-denominated fixed-rate debt to foreign currency-denominated fixed-rate debt, to hedge the currency exposure associated with our net investment in our foreign subsidiaries. As of both March 31, 2022 and December 31, 2021, we had cross-currency interest rate swaps outstanding with notional amounts of $4.0 billion, with maturity dates ranging through 2026. From time to time, we use foreign currency forward contracts to hedge against the effect of foreign exchange rate fluctuations on our net investment in our foreign subsidiaries. As of March 31, 2022 and December 31, 2021, the total notional amount of foreign currency forward contracts designated as net investment hedges were $373.8 million and $375.7 million, respectively. Certain of our customer agreements are deemed to have foreign currency forward contracts embedded in them 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. We use these forward contracts embedded within our customer agreements to hedge against the effect of foreign exchange rate fluctuations on our net investment in our foreign subsidiaries. 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, 2022 and 2021 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended 2022 2021 Foreign currency debt $ 45,061 $ 68,740 Cross-currency interest rate swaps (included component) (1) 122,030 141,228 Cross-currency interest rate swaps (excluded component) (2) (72,108) (40,529) Foreign currency forward contracts (included component) (1) (2,949) 708 Foreign currency forward contracts (excluded component) (3) (676) 28 Total $ 91,358 $ 170,175 Amount of gain or (loss) recognized in earnings: Location of gain or (loss) Three Months Ended 2022 2021 Cross-currency interest rate swaps (excluded component) (2) Interest expense $ 12,578 $ 10,049 Foreign currency forward contracts (excluded component) (3) Interest expense (31) 164 Total $ 12,547 $ 10,213 (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 transaction 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, 2022 and December 31, 2021, the total notional amounts of these foreign exchange contracts were $814.0 million and $831.2 million, respectively. As of March 31, 2022, our foreign currency cash flow hedge instruments had maturity dates ranging from April 2022 to December 2023 and we had a net gain of $30.7 million recorded within accumulated other comprehensive income (loss) to be reclassified to revenues and expenses relating to these cash flow hedges as they mature in the next 12 months. As of December 31, 2021, our foreign currency cash flow hedge instruments had maturity dates ranging from January 2022 to December 2023 and we had a net gain of $13.3 million recorded within accumulated other comprehensive income (loss) to be reclassified to revenues and expenses relating to these cash flow hedges 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, 2022, we had no interest rate locks outstanding. As of December 31, 2021, the total notional amount of interest rate locks outstanding was $800.0 million. During the three months ended March 31, 2022, interest rate locks with a combined aggregate notional amount of $800.0 million were settled related to the issuance of senior notes during the year. 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, 2022 and December 31, 2021, we had a net gain of $1.4 million and a net loss of $3.9 million, respectively, recorded 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, 2022 and 2021 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended 2022 2021 Foreign currency forward and option contracts (included component) (1) $ 18,322 $ 31,374 Foreign currency option contracts (excluded component) (2) — 196 Interest rate locks 50,442 5,801 Total $ 68,764 $ 37,371 Amount of gain or (loss) reclassified from accumulated other comprehensive income to income: Three Months Ended Location of gain or (loss) 2022 2021 Foreign currency forward contracts Revenues $ 3,563 $ (12,969) Foreign currency forward contracts Costs and operating expenses (1,312) 7,204 Interest rate locks Interest Expense (1,076) (805) Total $ 1,175 $ (6,570) Amount of gain or (loss) excluded from effectiveness testing included in income: Three Months Ended Location of gain or (loss) 2022 2021 Foreign currency option contracts (excluded component) (2) Revenues $ — $ (181) Total $ — $ (181) (1) Included component represents foreign exchange spot rates. (2) Excluded component represents option's time value. Derivatives Not Designated as Hedging Instruments Embedded Derivatives . As described above, certain of our customer agreements are deemed to have foreign currency forward contracts embedded in them that are priced in currencies different from the functional or local currencies of the parties involved. 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, 2022 and December 31, 2021, the total notional amounts of these foreign currency contracts were $2.7 billion and $3.3 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) 2022 2021 Embedded derivatives Revenues $ (568) $ 4,495 Economic hedge of embedded derivatives Revenues (983) (4,213) Foreign currency forward contracts Other income (expense) (1,470) 56,800 Total $ (3,021) $ 57,082 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, 2022 and December 31, 2021 (in thousands): March 31, 2022 December 31, 2021 Assets (1) Liabilities (2) Assets (1) Liabilities (2) Designated as hedging instruments: Cash flow hedges Foreign currency forward and option contracts $ 34,888 $ 1,313 $ 22,866 $ 7,618 Interest rate locks — — 8,662 — Net investment hedges Cross-currency interest rate swaps 94,482 7,081 56,921 19,441 Foreign currency forward contracts 3,934 7,553 156 70 Total designated as hedging 133,304 15,947 88,605 27,129 Not designated as hedging instruments: Embedded derivatives — — 3,247 652 Economic hedges of embedded derivatives — — 2,232 637 Foreign currency forward contracts 8,215 36,085 83,265 5,854 Total not designated as hedging 8,215 36,085 88,744 7,143 Total Derivatives $ 141,519 $ 52,032 $ 177,349 $ 34,272 (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 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, 2022 and December 31, 2021 (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, 2022 Derivative assets $ 173,208 $ — $ 173,208 $ (47,621) $ 125,587 Derivative liabilities 69,010 — 69,010 (47,621) 21,389 December 31, 2021 Derivative assets $ 207,037 $ — $ 207,037 $ (47,538) $ 159,499 Derivative liabilities 49,326 — 49,326 (47,538) 1,788

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
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, 2022 and December 31, 2021 were as follows (in thousands): As of March 31, 2022 As of December 31, 2021 Fair Value Fair Value Fair Value Fair Value Level 1 Level 2 Level 1 Level 2 Assets: Money market and deposit accounts $ 264,367 $ 264,367 $ — $ 585,681 $ 585,681 $ — Derivative instruments (1) 141,519 — 141,519 177,349 — 177,349 Total $ 405,886 $ 264,367 $ 141,519 $ 763,030 $ 585,681 $ 177,349 Liabilities: Derivative instruments (1) $ 52,032 $ — $ 52,032 $ 34,272 $ — $ 34,272 (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, 2022 and December 31, 2021. Other than the contingent consideration related to the EMEA 1 Joint Venture as described in Note 6 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, 2022 and December 31, 2021.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	Leases Significant Lease Transactions The following table summarizes the significant lease transactions during the three months ended March 31, 2022 (in thousands): Renewal/Termination Options excluded Net Incremental (1) Lease Quarter Transaction Lease Classification ROU assets ROU liabilities Atlanta 1 ("AT1") data center lease extended & expansion (2) Q1 Extended lease term by 12 years with additional three 10- year renewal options Two 10-year renewal options Finance Lease $ 71,994 $ 72,549 Operating Lease (1,836) (2,391) (1) 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. (2) This lease had components previously classified as operating leases. Lease Expenses The components of lease expenses are as follows (in thousands): Three Months Ended 2022 2021 Finance lease cost Amortization of ROU assets (1) $ 40,123 $ 36,128 Interest on lease liabilities 28,887 30,193 Total finance lease cost 69,010 66,321 Operating lease cost 51,630 56,454 Variable lease cost 7,616 8,040 Total lease cost $ 128,256 $ 130,815 (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 $ 28,297 $ 28,399 Operating cash flows from operating leases 47,970 52,092 Financing cash flows from finance leases 40,773 32,584 ROU assets obtained in exchange for lease obligations: (1) Finance leases $ 26,339 $ 186,981 Operating leases 7,400 (1,948) As of March 31, 2022 As of December 31, 2021 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 6 % 7 % Weighted-average discount rate - operating leases 4 % 4 % Finance lease ROU assets (3) $ 1,893,388 $ 1,875,696 (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, 2022 and December 31, 2021, we recorded accumulated amortization of finance lease ROU assets of $755.9 million and $726.4 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, 2022 are as follows (in thousands): Operating Leases Finance Leases Total 2022 (9 months remaining) $ 135,547 $ 188,375 $ 323,922 2023 179,941 240,325 420,266 2024 165,358 241,070 406,428 2025 155,133 238,414 393,547 2026 144,660 228,629 373,289 Thereafter 826,122 2,079,500 2,905,622 Total lease payments 1,606,761 3,216,313 4,823,074 Plus amount representing residual property value — — — Less imputed interest (400,444) (1,040,674) (1,441,118) Total $ 1,206,317 $ 2,175,639 $ 3,381,956 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, 2022. These leases will commence between year 2022 and 2024, with lease terms of 5 to 27 years and total lease commitments of approximately $888.0 million.
Leases	Leases Significant Lease Transactions The following table summarizes the significant lease transactions during the three months ended March 31, 2022 (in thousands): Renewal/Termination Options excluded Net Incremental (1) Lease Quarter Transaction Lease Classification ROU assets ROU liabilities Atlanta 1 ("AT1") data center lease extended & expansion (2) Q1 Extended lease term by 12 years with additional three 10- year renewal options Two 10-year renewal options Finance Lease $ 71,994 $ 72,549 Operating Lease (1,836) (2,391) (1) 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. (2) This lease had components previously classified as operating leases. Lease Expenses The components of lease expenses are as follows (in thousands): Three Months Ended 2022 2021 Finance lease cost Amortization of ROU assets (1) $ 40,123 $ 36,128 Interest on lease liabilities 28,887 30,193 Total finance lease cost 69,010 66,321 Operating lease cost 51,630 56,454 Variable lease cost 7,616 8,040 Total lease cost $ 128,256 $ 130,815 (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 $ 28,297 $ 28,399 Operating cash flows from operating leases 47,970 52,092 Financing cash flows from finance leases 40,773 32,584 ROU assets obtained in exchange for lease obligations: (1) Finance leases $ 26,339 $ 186,981 Operating leases 7,400 (1,948) As of March 31, 2022 As of December 31, 2021 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 6 % 7 % Weighted-average discount rate - operating leases 4 % 4 % Finance lease ROU assets (3) $ 1,893,388 $ 1,875,696 (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, 2022 and December 31, 2021, we recorded accumulated amortization of finance lease ROU assets of $755.9 million and $726.4 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, 2022 are as follows (in thousands): Operating Leases Finance Leases Total 2022 (9 months remaining) $ 135,547 $ 188,375 $ 323,922 2023 179,941 240,325 420,266 2024 165,358 241,070 406,428 2025 155,133 238,414 393,547 2026 144,660 228,629 373,289 Thereafter 826,122 2,079,500 2,905,622 Total lease payments 1,606,761 3,216,313 4,823,074 Plus amount representing residual property value — — — Less imputed interest (400,444) (1,040,674) (1,441,118) Total $ 1,206,317 $ 2,175,639 $ 3,381,956 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, 2022. These leases will commence between year 2022 and 2024, with lease terms of 5 to 27 years and total lease commitments of approximately $888.0 million.

Debt Facilities

Debt Facilities	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt Facilities	Debt Facilities Mortgage and Loans Payable As of March 31, 2022 and December 31, 2021, our mortgage and loans payable consisted of the following (in thousands): March 31, December 31, 2021 Term loans $ 656,750 $ 549,697 Mortgage payable and loans payable 66,280 68,691 723,030 618,388 Less amount representing unamortized debt discount and debt issuance cost (1,078) (354) Add amount representing unamortized mortgage premium 1,564 1,630 723,516 619,664 Less current portion (31,993) (33,087) Total $ 691,523 $ 586,577 Senior Credit Facility and Refinancing In 2017, we entered into a credit agreement ("2017 Credit Agreement") with a group of lenders for a $3.0 billion credit facility ("2017 Credit Facilities"), comprised of a $2.0 billion senior unsecured multicurrency revolving credit facility ("2017 Revolving Facility") and an approximately $1.0 billion senior unsecured multicurrency term loan facility (the "2017 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. On May 17, 2021, we repaid our outstanding term loans in Swedish Krona and Japanese Yen under the 2017 Term Loan Facility for $285.4 million and $374.5 million in U.S. Dollars, respectively, at the exchange rates in effect on May 17, 2021 using a portion of the cash proceeds from the 2026 Notes, 2028 Notes, 2031 Notes, and 2052 Notes issuances as described below. On January 7, 2022, we entered into a credit agreement (the "2022 Credit Agreement") with a group of lenders for a senior unsecured credit facility, comprised of a $4.0 billion senior unsecured multicurrency revolving credit facility (the "2022 Revolving Facility") and a £500.0 million senior unsecured term loan facility (the "2022 Term Loan Facility" and, together with the 2022 Revolving Facility, collectively, the "2022 Credit Facilities"). The total debt issuance costs for the 2022 Revolving Facility and 2022 Term Loan Facility are $6.5 million and $0.8 million, respectively. We borrowed the full £500.0 million available under the 2022 Term Loan Facility, or approximately $676.9 million at the exchange rates in effect on that date. On that same day, using a portion of the proceeds from the 2022 Term Loan Facility, we prepaid in full all of the $549.6 million of indebtedness outstanding under the 2017 Term Loan Facility, at the exchange rates in effect on January 7, 2022 and terminated the 2017 Credit Agreement. In connection with the repayment and termination, we incurred an insignificant amount of loss on debt extinguishment. The remaining unamortized debt issuance costs of the 2017 Credit Facilities will continue to be amortized over the contract terms of the 2022 Credit Facilities. The 2022 Credit Facilities have a maturity date of January 7, 2027. We may borrow, repay and reborrow amounts under the 2022 Revolving Facility until the Maturity Date, at which time all amounts outstanding under the 2022 Revolving Facility must be repaid in full. The term loan made under the 2022 Term Loan Facility has no scheduled principal amortization and must be repaid in full on the maturity date. The 2022 Revolving Credit Facility provides for extensions of credit in U.S. Dollars as well as certain other foreign currencies. Borrowings under the 2022 Revolving Facility bear interest at a rate based on the daily Secured Overnight Financing Rate ("SOFR"), term SOFR, an alternative currency daily rate, or an alternative currency term rate plus a spread adjustment, plus a margin that can vary from 0.555% to 1.200%. Borrowings under the 2022 Term Loan Facility bear interest at a rate based on the daily Sterling Overnight Index Average ("SONIA"), plus a spread adjustment, plus a margin that can vary from 0.625% to 1.450%. We are also required to pay a quarterly letter of credit fee on the face amount of each letter of credit, which fee is based on the same margin that applies from time to time to SOFR-indexed borrowings under the revolving credit line. The margin is dependent on either our consolidated net leverage ratio or our credit ratings. We are also required to pay a quarterly facility fee ranging from 0.07% to 0.25% per annum. The 2022 Credit Agreement contains customary covenants, including financial ratio covenants that are required to be maintained as of each quarter end. As of March 31, 2022 and December 31, 2021, the total amounts outstanding under the 2022 Term Loan Facility and 2017 Term Loan Facility, net of debt issuance costs, were $655.7 million and $549.3 million, respectively. This outstanding amount of $655.7 million as of March 31, 2022 was recorded as non-current liabilities as we do not expect to settle the liabilities within the year. As of March 31, 2022, we had 40 irrevocable letters of credit totaling $92.0 million issued and outstanding under the 2022 Revolving Facility, with approximately $3.9 billion remaining available to borrow under the 2022 Revolving Facility. Senior Notes As of March 31, 2022 and December 31, 2021, our senior notes consisted of the following (in thousands): March 31, 2022 December 31, 2021 Amount Effective Rate Amount Effective Rate 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 % 1.450% Senior Notes due 2026 700,000 1.64 % 700,000 1.64 % 0.250% Euro Senior Notes due 2027 553,450 0.45 % 569,150 0.45 % 1.800% Senior Notes due 2027 500,000 1.96 % 500,000 1.96 % 1.550% Senior Notes due 2028 650,000 1.67 % 650,000 1.67 % 2.000% Senior Notes due 2028 400,000 2.21 % 400,000 2.21 % 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 % 2.500% Senior Notes due 2031 1,000,000 2.65 % 1,000,000 2.65 % 1.000% Euro Senior Notes due 2033 664,140 1.18 % 682,980 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 % 3.400% Senior Notes due 2052 500,000 3.50 % 500,000 3.50 % 11,067,590 11,102,130 Less amount representing unamortized debt issuance cost (113,758) (117,986) 10,953,832 10,984,144 Less current portion — — Total $ 10,953,832 $ 10,984,144 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 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. 1.450% Senior Notes due 2026, 2.000% Senior Notes due 2028, 2.500% Senior Notes due 2031 and 3.400% Senior Notes due 2052 On May 17, 2021, we issued $700.0 million aggregate principal amount of 1.450% senior notes due 2026 (the "2026 Notes"), $400.0 million aggregate principal amount of 2.000% senior notes due 2028 (the "2028 Notes"), $1.0 billion aggregate principal amount of 2.500% senior notes due 2031 (the "2031 Notes"), and $500.0 million aggregate principal amount of 3.400% senior notes due 2052 (the "2052 Notes"). Interest on the 2026, 2028 and 2031 notes are payable semi-annually on May 15 and November 15 of each year, commencing on November 15, 2021. Interest on the 2052 notes are payable semi-annually on February 15 and August 15 of each year, commencing on February 15, 2022. Total debt issuance costs and debt discounts related to the 2026 Notes, 2028 Notes, 2031 Notes and 2052 Notes were $6.4 million, $5.3 million, $13.0 million and $9.3 million, respectively. Redemption of 5.375% Senior Notes due 2027 On June 2, 2021, we redeemed all outstanding principal amount under the 5.375% Senior Notes due 2027 with a portion of the net cash proceeds from the issuance of the 2026 Notes, 2028 Notes, 2031 Notes, and 2052 Notes as described above. In connection with the redemption, we incurred $100.6 million of loss on debt extinguishment, including $90.7 million redemption premium that was paid in cash and $9.9 million related to the write-off of unamortized debt issuance costs. 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, 2022 (in thousands): Years ending: 2022 (9 months remaining) $ 30,403 2023 6,595 2024 1,006,193 2025 1,204,698 2026 1,304,832 Thereafter 8,239,463 Total $ 11,792,184 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 $ 761,651 $ 621,051 Senior notes 10,051,629 11,049,834 The fair values of the mortgage and loans payable, 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 2022 2021 Interest expense $ 79,965 $ 89,681 Interest capitalized 4,420 6,108 Interest charges incurred $ 84,385 $ 95,789

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
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, 2022, we were contractually committed for approximately $1.1 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, 2022, such as commitments to purchase power in select locations through the remainder of 2022 and thereafter, and other open purchase orders for goods or services to be delivered or provided during the remainder of 2022 and thereafter. Such other miscellaneous purchase commitments totaled approximately $1.4 billion as of March 31, 2022. For further information on equity contribution commitments and lease commitments, see Note 6 and Note 9, 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 outcomes 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 the 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, our estimated fair value of these indemnification agreements is minimal. We have no liabilities recorded for these agreements as of March 31, 2022. 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 material costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, our estimated fair value of these agreements is minimal. We have no liabilities recorded for these agreements as of March 31, 2022. 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 material costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, our estimated fair value of these agreements is minimal. We do not have significant liabilities recorded for these agreements as of March 31, 2022. 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, 2022.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2022
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, 2022 and 2021 (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, 2021 90,872,826 $ 91 (301,420) $ (112,208) $ 15,984,597 $ (6,165,140) $ (1,085,751) $ 2,260,493 $ 10,882,082 $ (318) $ 10,881,764 Net income — — — — — — — 147,453 147,453 240 147,693 Other comprehensive loss — — — — — — 32,837 — 32,837 3 32,840 Issuance of common stock and release of treasury stock for employee equity awards 430,973 — 11,445 4,259 39,617 — — — 43,876 — 43,876 Dividend distribution on common stock, $3.10 per share — — — — — (282,031) — — (282,031) — (282,031) Settlement of accrued dividends on vested equity awards — — — — — (497) — — (497) — (497) Accrued dividends on unvested equity awards — — — — — (2,045) — — (2,045) — (2,045) Stock-based compensation, net of estimated forfeitures — — — — 121,210 — — — 121,210 — 121,210 Balance as of March 31, 2022 91,303,799 $ 91 (289,975) $ (107,949) $ 16,145,424 $ (6,449,713) $ (1,052,914) $ 2,407,946 $ 10,942,885 $ (75) $ 10,942,810 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, 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 (loss) — — — — — — — 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 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") loss $ (1,068,399) $ (122,537) $ (1,190,936) Unrealized gain (loss) on cash flow hedges (1) (6,590) 64,037 57,447 Net investment hedge CTA gain (loss) (1) (9,952) 91,358 81,406 Net actuarial loss on defined benefit plans (2) (810) (21) (831) Accumulated other comprehensive gain (loss) attributable to Equinix $ (1,085,751) $ 32,837 $ (1,052,914) (1) Refer to Note 7 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 condensed 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, 2022, the U.S. Dollar was generally stronger relative to certain of the currencies of the foreign countries in which we operate as compared to December 31, 2021. Because of this, the U.S. Dollar had an overall unfavorable impact on our condensed consolidated financial position because the foreign denominations translated into fewer U.S. Dollars as evidenced by an increase in foreign currency translation loss for the three months ended March 31, 2022 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 October 2020, we established an ATM program, under which we may, from time to time, offer and sell our common stock to or through sales agents in "at the market" transactions (the "2020 ATM Program"). In February 2022, we entered into a forward sale amendment to the 2020 ATM Program, under which we may, from time to time, offer and sell shares under the equity distribution agreement pursuant to forward sale transactions (the "Equity Forward Amendment"). Under the 2020 ATM Program and Equity Forward Amendment we may, from time to time, offer and sell our common stock to or through sales agents at amounts up to an aggregate amount of $1.5 billion. The forward sale agreements provide three settlement alternatives: physical settlement, cash settlement or net share settlement. In accordance with ASC 815, the forward sale agreements are classified as equity for balance sheet purposes. In March 2022, we executed two forward sale agreements to sell shares of our common stock with maturity dates in March 2023. The aggregate proceeds for the two forward sale agreements to be received upon settlement is not significant. For the three months ended March 31, 2022 and 2021, we did not sell any shares under the 2020 ATM Program. As of March 31, 2022, we had $1.0 billion of common stock remaining available for sale under the 2020 ATM Program. Stock-Based Compensation For the three months ended March 31, 2022, the Compensation Committee and/or the Stock Award Committee of our Board of Directors, as the case may be, granted an aggregate of 750,583 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 $665.53 per share and a weighted-average requisite service period of 3.50 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, adjusted funds from operations ("AFFO") per share and digital services revenues as the performance measurements in the RSUs with both service and performance conditions that were granted in the three months ended March 31, 2022. 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, 2022. 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 2022 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 2022 2021 Cost of revenues $ 10,443 $ 8,467 Sales and marketing 20,184 17,703 General and administrative 59,325 52,180 Total $ 89,952 $ 78,350

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Information	Segment InformationWhile 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, 2022 Americas EMEA Asia-Pacific Total Colocation (1) $ 522,171 $ 414,569 $ 282,615 $ 1,219,355 Interconnection 181,103 68,140 59,987 309,230 Managed infrastructure 49,222 30,990 20,642 100,854 Other (1) 5,134 6,414 1,337 12,885 Recurring revenues 757,630 520,113 364,581 1,642,324 Non-recurring revenues 42,791 30,367 18,965 92,123 Total $ 800,421 $ 550,480 $ 383,546 $ 1,734,447 (1) Includes some leasing and hedging activities. 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. No single customer accounted for 10% or greater of our accounts receivable or revenues for the three months ended March 31, 2022 and 2021. There is no country outside of the U.S. from which we derived revenues that exceeded 10% of our total revenues for the three months ended March 31, 2022 and 2021. 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 2022 2021 Adjusted EBITDA: Americas $ 356,555 $ 344,492 EMEA 260,345 243,563 Asia-Pacific 182,812 185,177 Total adjusted EBITDA 799,712 773,232 Depreciation, amortization and accretion expense (436,386) (394,318) Stock-based compensation expense (89,952) (78,350) Transaction costs (4,240) (1,182) Loss on asset sales (1,818) (1,720) Income from operations $ 267,316 $ 297,662 We also provide the following additional segment disclosures (in thousands): Three Months Ended 2022 2021 Depreciation and amortization: Americas $ 229,709 $ 203,433 EMEA 115,054 110,779 Asia-Pacific 90,577 80,805 Total $ 435,340 $ 395,017 Capital expenditures: Americas $ 185,046 $ 205,174 EMEA 162,503 235,416 Asia-Pacific 64,969 123,008 Total $ 412,518 $ 563,598 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 $ 6,892,787 $ 6,777,174 EMEA 5,106,472 5,125,341 Asia-Pacific 3,513,732 3,543,260 Total property, plant and equipment, net $ 15,512,991 $ 15,445,775 Americas $ 286,499 $ 297,300 EMEA 455,048 470,330 Asia-Pacific 492,710 514,788 Total operating lease right-of-use assets $ 1,234,257 $ 1,282,418

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Declaration of dividends On April 27, 2022, we declared a quarterly cash dividend of $3.10 per share, which is payable on June 15, 2022 to our common stockholders of record as of the close of business on May 18, 2022. Asia-Pacific 3 Joint Venture Close On April 6, 2022, we entered into a joint venture in the form of a limited liability partnership with GIC to develop and operate two xScale data centers in Seoul, Korea (the "Asia-Pacific 3 Joint Venture"). Upon closing, we contributed $17.0 million in exchange for a 20% partnership interest in the Asia-Pacific 3 Joint Venture. Completion of the MainOne Acquisition On April 1, 2022, we completed the acquisition of MainOne, a leading West African data center and connectivity solutions provider headquartered in Nigeria with presence in Ghana and Cote D'lvoire, for a purchase price of approximately $320.0 million. Refer to Note 4 for a discussion of this acquisition. 3.900% Senior Notes due 2032 On April 5, 2022, we issued $1.2 billion aggregate principal amount of 3.900% Senior Notes due 2032 (the "2032 Notes"). Interest on the 2032 Notes is payable semi-annually on April 15 and October 15 of each year, commencing October 15, 2022. Debt issuance costs and debt discounts related to the 2032 Notes was $16.4 million. Acquisition of a data center in Peru under the Entel Peru Acquisition On April 27, 2022, we signed an agreement with Entel to acquire a data center in Peru for a purchase price of PEN270.8 million, or approximately $70.7 million at the exchange rate in effect on that date. The acquisition of the data center in Peru is pending the achievement of certain closing conditions, for which the timing is uncertain. Refer to Note 4 for a discussion of this acquisition.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
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, 2021 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 18, 2022. 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 acquisition of two data centers in Mumbai, India from the India operations of GPX Global Systems, Inc. ("GPX India") from September 1, 2021. 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 for U.S. federal income tax purposes ("REIT") beginning with our 2015 taxable year. As a result, we may deduct the dividends paid 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 October 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2021-08 Business Combinations ("Topic 805"): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The ASU requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. Under the current business combinations guidance, such assets and liabilities were recognized by the acquirer at fair value on the acquisition date. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted. 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 Income Taxes 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. Debt with Conversion and Other Options In August 2020, FASB issued 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. On January 1, 2022, 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.
Remaining performance obligations	Remaining performance obligations As of March 31, 2022, approximately $9.2 billion of total revenues, including deferred installation revenues, are expected to be recognized in future periods. Most of our revenue contracts have an initial term varying from one The remaining performance obligations do not include variable consideration related to unsatisfied performance obligations such as the usage of metered power, point-in-time services, 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 both March 31, 2022 and December 31, 2021, the total principal amounts of foreign currency debt obligations designated as net investment hedges was $1.5 billion. We also use cross-currency interest rate swaps, which effectively convert a portion of our U.S. dollar-denominated fixed-rate debt to foreign currency-denominated fixed-rate debt, to hedge the currency exposure associated with our net investment in our foreign subsidiaries. As of both March 31, 2022 and December 31, 2021, we had cross-currency interest rate swaps outstanding with notional amounts of $4.0 billion, with maturity dates ranging through 2026. From time to time, we use foreign currency forward contracts to hedge against the effect of foreign exchange rate fluctuations on our net investment in our foreign subsidiaries. As of March 31, 2022 and December 31, 2021, the total notional amount of foreign currency forward contracts designated as net investment hedges were $373.8 million and $375.7 million, respectively. Certain of our customer agreements are deemed to have foreign currency forward contracts embedded in them 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. We use these forward contracts embedded within our customer agreements to hedge against the effect of foreign exchange rate fluctuations on our net investment in our foreign subsidiaries. Cash Flow Hedges .
Derivatives Not Designated as Hedging Instruments	Derivatives Not Designated as Hedging Instruments Embedded Derivatives . As described above, certain of our customer agreements are deemed to have foreign currency forward contracts embedded in them that are priced in currencies different from the functional or local currencies of the parties involved. 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. • Level 3: unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of 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. Intercompany transactions between segments are excluded for management reporting purposes.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2022
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 assets, current; contract assets, 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, 2022 $ 681,809 $ 65,392 $ 55,486 $ 109,736 $ 87,495 Closing balances as of March 31, 2022 780,404 65,948 56,226 115,055 84,374 Increase (Decrease) $ 98,595 $ 556 $ 740 $ 5,319 $ (3,121)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
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 2022 2021 Net income $ 147,693 $ 156,074 Net (income) loss attributable to non-controlling interests (240) 288 Net income attributable to Equinix $ 147,453 $ 156,362 Weighted-average shares used to calculate basic EPS 90,771 89,330 Effect of dilutive securities: Employee equity awards 391 512 Weighted-average shares used to calculate diluted EPS 91,162 89,842 EPS attributable to Equinix: Basic EPS $ 1.62 $ 1.75 Diluted EPS $ 1.62 $ 1.74

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of allocation of total purchase consideration	A summary of the final allocation of total purchase consideration is presented as follows (in thousands): GPX India (1) Final Cash and cash equivalents $ 9,406 Accounts receivable 4,399 Other current assets 8,883 Property, plant and equipment 88,130 Operating lease right-of-use assets 62 Intangible assets 15,408 Goodwill 77,145 Deferred tax and other assets 20 Total assets acquired 203,453 Accounts payable and accrued liabilities (1,566) Other current liabilities (478) Operating lease liabilities (62) Finance lease liabilities (20,565) Deferred tax and other liabilities (10,317) Net assets acquired $ 170,465
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) Discount Rate GPX India: Customer relationships (1) $ 15,408 15.0 15.0 11.0 % (1) The fair value was estimated by calculating the present value of estimated future operating cash flows generated from existing customers less costs to realize the revenue. The rates reflect 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.

Assets Held for Sale (Tables)

Assets Held for Sale (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Disclosure of Long Lived Assets Held-for-sale	The following table summarizes the assets and liabilities that were classified as assets and liabilities held for sale in the condensed consolidated balance sheet as of March 31, 2022 (in thousands): March 31, Operating lease right-of-use assets $ 12,403 Property, plant and equipment 99,600 Other assets 3,190 Total assets held for sale $ 115,193 Current portion of operating lease liabilities $ 2,039 Operating lease liabilities, less current portion 348 Accrued property, plant and equipment 16,080 Total liabilities held for sale (1) $ 18,467 (1) Liabilities held for sale were included within other current liabilities on the condensed consolidated balance sheet.

Equity Method Investments (Tabl

Equity Method Investments (Tables)	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Schedule of equity method investments	The following table summarizes our equity method investments (in thousands), which were included in other assets on the condensed consolidated balance sheets: Investee Ownership Percentage March 31, 2022 December 31, 2021 EMEA 1 Joint Venture with GIC 20% $ 127,827 $ 131,516 EMEA 2 Joint Venture with GIC 20% 35,255 34,944 Asia-Pacific 1 Joint Venture with GIC 20% 64,188 60,108 Asia-Pacific 2 Joint Venture with PGIM 20% 30,286 — Other Various 19,759 18,481 Total $ 277,315 $ 245,049
Summary of the maximum exposure losses of VIE Joint Ventures	The following table summarizes our maximum exposure to loss related to the VIE Joint Ventures as of March 31, 2022 (in thousands): Asia-Pacific 1 Joint Venture EMEA 2 Joint Venture Asia-Pacific 2 Joint Venture Equity Investment $ 64,188 $ 35,255 $ 30,286 Outstanding Receivables 2,124 18,676 6,950 Future Equity Contribution Commitments (1) 2,030 67,033 1,086 Maximum Future Payments under Debt Guarantees (2) N/A (3) 37,133 N/A (3) Total $ 68,342 $ 158,097 $ 38,322 (1) The joint ventures' partners are required to make additional equity contributions proportionately upon certain occurrences, such as a shortfall in capital necessary to complete certain construction phases or make interest payments on their outstanding debt. (2) In connection with our 20% equity investment in the EMEA 2 Joint Venture, we provided the lenders with our guarantees covering 20% of all payments of principal and interest due under EMEA 2 Joint Venture's credit facility agreements (see Note 11).
Summary of other related party transactions	The following table presents the revenues and expenses from these arrangements with the Joint Ventures in our condensed consolidated statements of operations (in thousands): Three Months Ended Related Party Nature of Transaction 2022 2021 EMEA 1 Joint Venture Revenues $ 6,302 $ 7,189 EMEA 1 Joint Venture Expenses (1) 4,328 4,541 Asia-Pacific 1 Joint Venture Revenues 2,811 — EMEA 2 Joint Venture Revenues 4,107 — Asia-Pacific 2 Joint Venture Revenues 85 — (1) We have a sub-lease agreement with the EMEA 1 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. Balances primarily consist of rent expenses for the LD10-2 data center. The following table presents the assets and liabilities from related party transactions with the Joint Ventures in our condensed consolidated balance sheets (in thousands): Related Party Balance Sheet Line Item March 31, 2022 December 31, 2021 EMEA 1 Joint Venture Receivables $ 36,099 $ 32,077 Contract Assets (1) 54,132 54,503 Finance Lease Right of Use Assets 113,081 118,817 Other Liabilities and Payables 1,011 2,483 Other Liabilities and Payables - construction obligation (2) 41,453 39,382 Deferred Revenue 16,375 16,886 Finance Lease Right of Use Liabilities 119,539 124,918 Asia-Pacific 1 Joint Venture Receivables 2,124 2,124 Payables — 121 EMEA 2 Joint Venture Receivables 18,676 26,953 Contract Assets 1,753 1,492 Payables 2,049 1,755 Asia-Pacific 2 Joint Venture Receivables 6,950 — (1) A portion of the EMEA 1 Joint Venture contract asset balance relates to commitments to complete a residual portion of the Paris 9 data center sold to the EMEA 1 Joint Venture, which is reimbursable in full upon completion. (2) The balance primarily relates to the obligation to pay for future construction for certain sites sold as a part of the EMEA 1 Joint Venture transaction.

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2022 and 2021 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended 2022 2021 Foreign currency debt $ 45,061 $ 68,740 Cross-currency interest rate swaps (included component) (1) 122,030 141,228 Cross-currency interest rate swaps (excluded component) (2) (72,108) (40,529) Foreign currency forward contracts (included component) (1) (2,949) 708 Foreign currency forward contracts (excluded component) (3) (676) 28 Total $ 91,358 $ 170,175 Amount of gain or (loss) recognized in earnings: Location of gain or (loss) Three Months Ended 2022 2021 Cross-currency interest rate swaps (excluded component) (2) Interest expense $ 12,578 $ 10,049 Foreign currency forward contracts (excluded component) (3) Interest expense (31) 164 Total $ 12,547 $ 10,213 (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, 2022 and 2021 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended 2022 2021 Foreign currency forward and option contracts (included component) (1) $ 18,322 $ 31,374 Foreign currency option contracts (excluded component) (2) — 196 Interest rate locks 50,442 5,801 Total $ 68,764 $ 37,371 Amount of gain or (loss) reclassified from accumulated other comprehensive income to income: Three Months Ended Location of gain or (loss) 2022 2021 Foreign currency forward contracts Revenues $ 3,563 $ (12,969) Foreign currency forward contracts Costs and operating expenses (1,312) 7,204 Interest rate locks Interest Expense (1,076) (805) Total $ 1,175 $ (6,570) Amount of gain or (loss) excluded from effectiveness testing included in income: Three Months Ended Location of gain or (loss) 2022 2021 Foreign currency option contracts (excluded component) (2) Revenues $ — $ (181) Total $ — $ (181) (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) 2022 2021 Embedded derivatives Revenues $ (568) $ 4,495 Economic hedge of embedded derivatives Revenues (983) (4,213) Foreign currency forward contracts Other income (expense) (1,470) 56,800 Total $ (3,021) $ 57,082
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, 2022 and December 31, 2021 (in thousands): March 31, 2022 December 31, 2021 Assets (1) Liabilities (2) Assets (1) Liabilities (2) Designated as hedging instruments: Cash flow hedges Foreign currency forward and option contracts $ 34,888 $ 1,313 $ 22,866 $ 7,618 Interest rate locks — — 8,662 — Net investment hedges Cross-currency interest rate swaps 94,482 7,081 56,921 19,441 Foreign currency forward contracts 3,934 7,553 156 70 Total designated as hedging 133,304 15,947 88,605 27,129 Not designated as hedging instruments: Embedded derivatives — — 3,247 652 Economic hedges of embedded derivatives — — 2,232 637 Foreign currency forward contracts 8,215 36,085 83,265 5,854 Total not designated as hedging 8,215 36,085 88,744 7,143 Total Derivatives $ 141,519 $ 52,032 $ 177,349 $ 34,272 (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, 2022 and December 31, 2021 (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, 2022 Derivative assets $ 173,208 $ — $ 173,208 $ (47,621) $ 125,587 Derivative liabilities 69,010 — 69,010 (47,621) 21,389 December 31, 2021 Derivative assets $ 207,037 $ — $ 207,037 $ (47,538) $ 159,499 Derivative liabilities 49,326 — 49,326 (47,538) 1,788
Schedule of offsetting derivative assets and liabilities	The following table presents information related to these offsetting arrangements as of March 31, 2022 and December 31, 2021 (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, 2022 Derivative assets $ 173,208 $ — $ 173,208 $ (47,621) $ 125,587 Derivative liabilities 69,010 — 69,010 (47,621) 21,389 December 31, 2021 Derivative assets $ 207,037 $ — $ 207,037 $ (47,538) $ 159,499 Derivative liabilities 49,326 — 49,326 (47,538) 1,788

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2022 and December 31, 2021 were as follows (in thousands): As of March 31, 2022 As of December 31, 2021 Fair Value Fair Value Fair Value Fair Value Level 1 Level 2 Level 1 Level 2 Assets: Money market and deposit accounts $ 264,367 $ 264,367 $ — $ 585,681 $ 585,681 $ — Derivative instruments (1) 141,519 — 141,519 177,349 — 177,349 Total $ 405,886 $ 264,367 $ 141,519 $ 763,030 $ 585,681 $ 177,349 Liabilities: Derivative instruments (1) $ 52,032 $ — $ 52,032 $ 34,272 $ — $ 34,272 (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, 2022
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, 2022 (in thousands): Renewal/Termination Options excluded Net Incremental (1) Lease Quarter Transaction Lease Classification ROU assets ROU liabilities Atlanta 1 ("AT1") data center lease extended & expansion (2) Q1 Extended lease term by 12 years with additional three 10- year renewal options Two 10-year renewal options Finance Lease $ 71,994 $ 72,549 Operating Lease (1,836) (2,391) (1) 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. (2) This lease had components previously classified as operating leases.
Components of lease expenses	The components of lease expenses are as follows (in thousands): Three Months Ended 2022 2021 Finance lease cost Amortization of ROU assets (1) $ 40,123 $ 36,128 Interest on lease liabilities 28,887 30,193 Total finance lease cost 69,010 66,321 Operating lease cost 51,630 56,454 Variable lease cost 7,616 8,040 Total lease cost $ 128,256 $ 130,815 (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 $ 28,297 $ 28,399 Operating cash flows from operating leases 47,970 52,092 Financing cash flows from finance leases 40,773 32,584 ROU assets obtained in exchange for lease obligations: (1) Finance leases $ 26,339 $ 186,981 Operating leases 7,400 (1,948) As of March 31, 2022 As of December 31, 2021 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 6 % 7 % Weighted-average discount rate - operating leases 4 % 4 % Finance lease ROU assets (3) $ 1,893,388 $ 1,875,696 (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, 2022 and December 31, 2021, we recorded accumulated amortization of finance lease ROU assets of $755.9 million and $726.4 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, 2022 are as follows (in thousands): Operating Leases Finance Leases Total 2022 (9 months remaining) $ 135,547 $ 188,375 $ 323,922 2023 179,941 240,325 420,266 2024 165,358 241,070 406,428 2025 155,133 238,414 393,547 2026 144,660 228,629 373,289 Thereafter 826,122 2,079,500 2,905,622 Total lease payments 1,606,761 3,216,313 4,823,074 Plus amount representing residual property value — — — Less imputed interest (400,444) (1,040,674) (1,441,118) Total $ 1,206,317 $ 2,175,639 $ 3,381,956
Maturities of lease liabilities	Maturities of lease liabilities as of March 31, 2022 are as follows (in thousands): Operating Leases Finance Leases Total 2022 (9 months remaining) $ 135,547 $ 188,375 $ 323,922 2023 179,941 240,325 420,266 2024 165,358 241,070 406,428 2025 155,133 238,414 393,547 2026 144,660 228,629 373,289 Thereafter 826,122 2,079,500 2,905,622 Total lease payments 1,606,761 3,216,313 4,823,074 Plus amount representing residual property value — — — Less imputed interest (400,444) (1,040,674) (1,441,118) Total $ 1,206,317 $ 2,175,639 $ 3,381,956

Debt Facilities (Tables)

Debt Facilities (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Summary of debt	As of March 31, 2022 and December 31, 2021, our mortgage and loans payable consisted of the following (in thousands): March 31, December 31, 2021 Term loans $ 656,750 $ 549,697 Mortgage payable and loans payable 66,280 68,691 723,030 618,388 Less amount representing unamortized debt discount and debt issuance cost (1,078) (354) Add amount representing unamortized mortgage premium 1,564 1,630 723,516 619,664 Less current portion (31,993) (33,087) Total $ 691,523 $ 586,577 As of March 31, 2022 and December 31, 2021, our senior notes consisted of the following (in thousands): March 31, 2022 December 31, 2021 Amount Effective Rate Amount Effective Rate 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 % 1.450% Senior Notes due 2026 700,000 1.64 % 700,000 1.64 % 0.250% Euro Senior Notes due 2027 553,450 0.45 % 569,150 0.45 % 1.800% Senior Notes due 2027 500,000 1.96 % 500,000 1.96 % 1.550% Senior Notes due 2028 650,000 1.67 % 650,000 1.67 % 2.000% Senior Notes due 2028 400,000 2.21 % 400,000 2.21 % 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 % 2.500% Senior Notes due 2031 1,000,000 2.65 % 1,000,000 2.65 % 1.000% Euro Senior Notes due 2033 664,140 1.18 % 682,980 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 % 3.400% Senior Notes due 2052 500,000 3.50 % 500,000 3.50 % 11,067,590 11,102,130 Less amount representing unamortized debt issuance cost (113,758) (117,986) 10,953,832 10,984,144 Less current portion — — Total $ 10,953,832 $ 10,984,144
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, 2022 (in thousands): Years ending: 2022 (9 months remaining) $ 30,403 2023 6,595 2024 1,006,193 2025 1,204,698 2026 1,304,832 Thereafter 8,239,463 Total $ 11,792,184
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 $ 761,651 $ 621,051 Senior notes 10,051,629 11,049,834
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 2022 2021 Interest expense $ 79,965 $ 89,681 Interest capitalized 4,420 6,108 Interest charges incurred $ 84,385 $ 95,789

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2022 and 2021 (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, 2021 90,872,826 $ 91 (301,420) $ (112,208) $ 15,984,597 $ (6,165,140) $ (1,085,751) $ 2,260,493 $ 10,882,082 $ (318) $ 10,881,764 Net income — — — — — — — 147,453 147,453 240 147,693 Other comprehensive loss — — — — — — 32,837 — 32,837 3 32,840 Issuance of common stock and release of treasury stock for employee equity awards 430,973 — 11,445 4,259 39,617 — — — 43,876 — 43,876 Dividend distribution on common stock, $3.10 per share — — — — — (282,031) — — (282,031) — (282,031) Settlement of accrued dividends on vested equity awards — — — — — (497) — — (497) — (497) Accrued dividends on unvested equity awards — — — — — (2,045) — — (2,045) — (2,045) Stock-based compensation, net of estimated forfeitures — — — — 121,210 — — — 121,210 — 121,210 Balance as of March 31, 2022 91,303,799 $ 91 (289,975) $ (107,949) $ 16,145,424 $ (6,449,713) $ (1,052,914) $ 2,407,946 $ 10,942,885 $ (75) $ 10,942,810 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, 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 (loss) — — — — — — — 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
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") loss $ (1,068,399) $ (122,537) $ (1,190,936) Unrealized gain (loss) on cash flow hedges (1) (6,590) 64,037 57,447 Net investment hedge CTA gain (loss) (1) (9,952) 91,358 81,406 Net actuarial loss on defined benefit plans (2) (810) (21) (831) Accumulated other comprehensive gain (loss) attributable to Equinix $ (1,085,751) $ 32,837 $ (1,052,914) (1) Refer to Note 7 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 2022 2021 Cost of revenues $ 10,443 $ 8,467 Sales and marketing 20,184 17,703 General and administrative 59,325 52,180 Total $ 89,952 $ 78,350

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2022 Americas EMEA Asia-Pacific Total Colocation (1) $ 522,171 $ 414,569 $ 282,615 $ 1,219,355 Interconnection 181,103 68,140 59,987 309,230 Managed infrastructure 49,222 30,990 20,642 100,854 Other (1) 5,134 6,414 1,337 12,885 Recurring revenues 757,630 520,113 364,581 1,642,324 Non-recurring revenues 42,791 30,367 18,965 92,123 Total $ 800,421 $ 550,480 $ 383,546 $ 1,734,447 (1) Includes some leasing and hedging activities. 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.
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 2022 2021 Adjusted EBITDA: Americas $ 356,555 $ 344,492 EMEA 260,345 243,563 Asia-Pacific 182,812 185,177 Total adjusted EBITDA 799,712 773,232 Depreciation, amortization and accretion expense (436,386) (394,318) Stock-based compensation expense (89,952) (78,350) Transaction costs (4,240) (1,182) Loss on asset sales (1,818) (1,720) Income from operations $ 267,316 $ 297,662
Segment disclosures	We also provide the following additional segment disclosures (in thousands): Three Months Ended 2022 2021 Depreciation and amortization: Americas $ 229,709 $ 203,433 EMEA 115,054 110,779 Asia-Pacific 90,577 80,805 Total $ 435,340 $ 395,017 Capital expenditures: Americas $ 185,046 $ 205,174 EMEA 162,503 235,416 Asia-Pacific 64,969 123,008 Total $ 412,518 $ 563,598
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 $ 6,892,787 $ 6,777,174 EMEA 5,106,472 5,125,341 Asia-Pacific 3,513,732 3,543,260 Total property, plant and equipment, net $ 15,512,991 $ 15,445,775 Americas $ 286,499 $ 297,300 EMEA 455,048 470,330 Asia-Pacific 492,710 514,788 Total operating lease right-of-use assets $ 1,234,257 $ 1,282,418

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies - Narrative (Detail) - center	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Sep. 01, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effective income tax rate, continuing operations	18.20%	17.30%
GPX India
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Data centers purchased			2

Revenue - Opening and Closing B

Revenue - Opening and Closing Balances (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 780,404	$ 681,809
Increase in accounts receivables	98,595
Contract assets, current	65,948	65,392
Increase in contract asset, current	556
Contract assets, non-current	56,226	55,486
Increase in contract asset, non-current	740
Deferred revenue, current	115,055	109,736
Increase in deferred revenue, current	5,319
Deferred revenue, non-current	84,374	$ 87,495
Increase in deferred revenue, non-current	$ (3,121)

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, revenue recognized	$ 29.9
Revenue, remaining performance obligation	$ 9,200
Renewal term	1 year
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, requirement of payment, terms	1 year
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, requirement of payment, terms	3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, requirement of payment, terms	2 years
Revenue, remaining performance obligation, percentage	70.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, requirement of payment, terms	3 years
Revenue, remaining performance obligation, percentage	30.00%

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, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net income	$ 147,693	$ 156,074
Net (income) loss attributable to non-controlling interests	(240)	288
Net income attributable to Equinix	$ 147,453	$ 156,362
Weighted-average shares used to calculate basic EPS (in shares)	90,771	89,330
Effect of dilutive securities:
Employee equity awards (in shares)	391	512
Weighted-average shares used to calculate diluted EPS (in shares)	91,162	89,842
Basic EPS (in dollars per share)	$ 1.62	$ 1.75
Diluted EPS (in dollars per share)	$ 1.62	$ 1.74

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, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Anti-dilutive potential shares of common stock excluded from computation of earnings per share (in shares)	377	148

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Detail) S/ in Millions, CLF in Millions, $ in Millions, ₨ in Billions	Apr. 29, 2022USD ($)	Apr. 29, 2022PEN (S/)	Apr. 01, 2022USD ($)center	Sep. 01, 2021USD ($)center	Sep. 01, 2021INR (₨)center	Jun. 30, 2022CLFcenter	Jun. 30, 2022USD ($)center
Entel | Forecast
Business Acquisition [Line Items]
Data centers purchased						4	4
Consideration transferred						CLF 16.7	$ 664
Entel Peru | Forecast | Subsequent Event
Business Acquisition [Line Items]
Consideration transferred	$ 70.7	S/ 270.8
MainOne | Subsequent Event
Business Acquisition [Line Items]
Data centers purchased			4
Cash consideration for acquisition | $			$ 320
GPX India
Business Acquisition [Line Items]
Data centers purchased				2	2
Cash consideration for acquisition				$ 170.5	₨ 12.5

Acquisitions - Preliminary Purc

Acquisitions - Preliminary Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Sep. 01, 2021
Allocation of purchase price consideration
Goodwill	$ 5,316,079	$ 5,372,071
GPX India
Allocation of purchase price consideration
Cash and cash equivalents			$ 9,406
Accounts receivable			4,399
Other current assets			8,883
Property, plant and equipment			88,130
Operating lease right-of-use assets			62
Intangible assets			15,408
Goodwill			77,145
Deferred tax and other assets			20
Total assets acquired			203,453
Accounts payable and accrued liabilities			(1,566)
Other current liabilities			(478)
Operating lease liabilities			(62)
Finance lease liabilities			(20,565)
Deferred tax and other liabilities			(10,317)
Net assets acquired			$ 170,465

Acquisitions - Intangible Asset

Acquisitions - Intangible Assets (Details) - Customer relationships - GPX India $ in Thousands	Sep. 01, 2021USD ($)
Business Acquisition [Line Items]
Fair Value	$ 15,408
Estimated Useful Lives (Years)	15 years
Weighted-average Estimated Useful Lives (Years)	15 years
Discount Rate
Business Acquisition [Line Items]
Measurement input	0.110

Assets Held for Sale - Narrativ

Assets Held for Sale - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Long Lived Assets Held-for-sale [Line Items]
Equity method investments	$ 277,315	$ 245,049
Asia-Pacific 2 Joint Venture with PGIM
Long Lived Assets Held-for-sale [Line Items]
Ownership percentage	20.00%
Equity method investments	$ 29,800
Asia-Pacific 2 Joint Venture with PGIM | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Sydney 9 ("SY9") Data Center Site
Long Lived Assets Held-for-sale [Line Items]
Consideration	201,300
Proceeds from sale of data centers	165,600
Receivables acquired in sale of asset	$ 5,900

Assets Held for Sale - Assets a

Assets Held for Sale - Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Long Lived Assets Held-for-sale [Line Items]
Operating lease right-of-use assets	$ 1,234,257	$ 1,282,418
Property, plant and equipment	15,512,991	15,445,775
Other assets	1,019,569	926,066
Total assets	28,023,233	27,918,698
Current portion of operating lease liabilities	146,239	144,029
Operating lease liabilities, less current portion	1,060,078	1,107,180
Accrued property, plant and equipment	236,608	187,334
Total liabilities	17,080,423	$ 17,036,934
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | MX3 and WA4 Data Centers to be Sold
Long Lived Assets Held-for-sale [Line Items]
Operating lease right-of-use assets	12,403
Property, plant and equipment	99,600
Other assets	3,190
Total assets	115,193
Current portion of operating lease liabilities	2,039
Operating lease liabilities, less current portion	348
Accrued property, plant and equipment	16,080
Total liabilities	$ 18,467

Equity Method Investments - Sch

Equity Method Investments - Schedule of Equity Method Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 277,315	$ 245,049
EMEA 1 Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	20.00%
Equity method investments	$ 127,827	131,516
EMEA 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	20.00%
Equity method investments	$ 35,255	34,944
Asia-Pacific 1 Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	20.00%
Equity method investments	$ 64,188	60,108
Asia-Pacific 2 Joint Venture with PGIM
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	20.00%
Equity method investments	$ 29,800
Asia-Pacific 2 Joint Venture with PGIM | Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	20.00%
Equity method investments	$ 30,286	0
Other
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 19,759	$ 18,481

Equity Method Investments - Nar

Equity Method Investments - Narrative (Details) - EMEA 1 Joint Venture - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Inputs, Level 3 | Joint Venture
Schedule of Equity Method Investments [Line Items]
Contingent consideration, asset	$ 5.1	$ 5.3
Equity Contribution Commitment
Schedule of Equity Method Investments [Line Items]
Equity contribution commitment	$ 45.1

Equity Method Investments - S_2

Equity Method Investments - Schedule of Maximum Exposure Loss (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Equity investment	$ 277,315	$ 245,049
Asia-Pacific 1 Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Equity investment	64,188	60,108
Outstanding receivables	2,124
Future equity contribution commitments	2,030
Total	$ 68,342
Ownership Percentage	20.00%
EMEA 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Equity investment	$ 35,255	34,944
Outstanding receivables	18,676
Future equity contribution commitments	67,033
Total	$ 158,097
Ownership Percentage	20.00%
EMEA 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary | EMEA 2 Joint Venture Credit Facility
Variable Interest Entity [Line Items]
Maximum future payments under debt guarantees	$ 37,133
Percentage guarantee on debt payments	0.20
Asia-Pacific 2 Joint Venture with PGIM
Variable Interest Entity [Line Items]
Equity investment	$ 29,800
Ownership Percentage	20.00%
Asia-Pacific 2 Joint Venture with PGIM | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Equity investment	$ 30,286	$ 0
Outstanding receivables	6,950
Future equity contribution commitments	1,086
Total	$ 38,322
Ownership Percentage	20.00%

Equity Method Investments - Sum

Equity Method Investments - Summary of Gains (Losses) of Joint Venture Arrangements (Details) - Joint Venture - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
EMEA 1 Joint Venture
Related Party Transaction [Line Items]
Revenues	$ 6,302	$ 7,189
Expenses	$ 4,328	4,541
EMEA 1 Joint Venture | Sublease, Equinix's London 10-2 Data Center
Related Party Transaction [Line Items]
Sublease, lease term (in years)	15 years
Asia-Pacific 1 Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Related Party Transaction [Line Items]
Revenues	$ 2,811	0
EMEA 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Related Party Transaction [Line Items]
Revenues	4,107	0
Asia-Pacific 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Related Party Transaction [Line Items]
Revenues	$ 85	$ 0

Equity Method Investments - S_3

Equity Method Investments - Summary of Assets and Liabilities from Related Party Transactions with the Joint Ventures (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Finance lease right-of-use assets	$ 1,893,388	$ 1,875,696
Finance lease liability	2,175,639
EMEA 1 Joint Venture | Joint Venture
Related Party Transaction [Line Items]
Receivables	36,099	32,077
Contract assets	54,132	54,503
Finance lease right-of-use assets	113,081	118,817
Other liabilities and payables	1,011	2,483
Finance lease liability	119,539	124,918
Other liabilities and payables - construction obligation	41,453	39,382
Deferred revenue	16,375	16,886
Asia-Pacific 1 Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Related Party Transaction [Line Items]
Receivables	2,124
Asia-Pacific 1 Joint Venture | Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Related Party Transaction [Line Items]
Receivables	2,124	2,124
Payables	0	121
EMEA 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Related Party Transaction [Line Items]
Receivables	18,676
EMEA 2 Joint Venture | Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Related Party Transaction [Line Items]
Receivables	18,676	26,953
Contract assets	1,753	1,492
Payables	2,049	1,755
Asia-Pacific 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Related Party Transaction [Line Items]
Receivables	6,950
Asia-Pacific 2 Joint Venture | Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Related Party Transaction [Line Items]
Receivables	$ 6,950	$ 0

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Narrative (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Designated as hedging instruments: | Cross Currency Interest Rate Contract
Derivative [Line Items]
Derivative, notional amount	$ 4,000,000,000	$ 4,000,000,000
Not designated as hedging instruments | Foreign currency forward contracts
Derivative [Line Items]
Derivative, notional amount	2,700,000,000	3,300,000,000
Net investment hedges | Designated as hedging instruments:
Derivative [Line Items]
Derivative, notional amount	1,500,000,000	1,500,000,000
Net investment hedges | Designated as hedging instruments: | Foreign Exchange Forward
Derivative [Line Items]
Derivative, notional amount	373,800,000	375,700,000
Cash flow hedges | Foreign currency forward and option contracts
Derivative [Line Items]
Derivative, notional amount	814,000,000	831,200,000
Net gain (loss) to be reclassified within the next 12 months, Foreign Currency Cash Flow Hedge	30,700,000	13,300,000
Cash flow hedges | Interest rate locks
Derivative [Line Items]
Derivative, notional amount	0	800,000,000
Derivative, notional aggregate amount settled	800,000,000
Net gain (loss) to be reclassified within the next 12 months, Interest Rate Cash Flow Hedge	$ 1,400,000	$ (3,900,000)

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Net investment Hedges (Details) - Net investment hedges - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Amount of gain or (loss) recognized in accumulated other comprehensive income:
Total	$ 91,358	$ 170,175
Amount of gain or (loss) recognized in earnings:
Amount of gain or (loss) excluded from effectiveness testing included in income:	12,547	10,213
Foreign currency debt
Amount of gain or (loss) recognized in accumulated other comprehensive income:
Gain (loss) recognized in accumulated other comprehensive income (included component)	45,061	68,740
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)	122,030	141,228
Gain (loss) recognized in accumulated other comprehensive income (excluded component)	(72,108)	(40,529)
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:	12,578	10,049
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)	(2,949)	708
Gain (loss) recognized in accumulated other comprehensive income (excluded component)	(676)	28
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:	$ (31)	$ 164

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Cash Flow Hedges (Details) - Cash flow hedges - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income:	$ 68,764	$ 37,371
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income:	1,175	(6,570)
Amount of gain or (loss) excluded from effectiveness testing included in income:	0	(181)
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:	18,322	31,374
Foreign currency option
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency option contracts (excluded component)	0	196
Foreign currency option | Revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) excluded from effectiveness testing included in income:	0	(181)
Interest rate locks
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income:	50,442	5,801
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:	(1,076)	(805)
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:	3,563	(12,969)
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:	$ (1,312)	$ 7,204

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	$ (3,021)	$ 57,082
Embedded derivatives | Revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	(568)	4,495
Economic hedge of embedded derivatives | Revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	(983)	(4,213)
Foreign currency forward contracts | Other income (expense)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	$ (1,470)	$ 56,800

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities - Fair Value of Derivative Instruments (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	$ 141,519	$ 177,349
Liabilities	52,032	34,272
Designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	133,304	88,605
Liabilities	15,947	27,129
Designated as hedging instruments: | Foreign currency forward and option contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	34,888	22,866
Liabilities	1,313	7,618
Designated as hedging instruments: | Interest rate locks
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	0	8,662
Liabilities	0	0
Designated as hedging instruments: | Cross-currency interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	94,482	56,921
Liabilities	7,081	19,441
Designated as hedging instruments: | Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	3,934	156
Liabilities	7,553	70
Not designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	8,215	88,744
Liabilities	36,085	7,143
Not designated as hedging instruments: | Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	8,215	83,265
Liabilities	36,085	5,854
Not designated as hedging instruments: | Embedded derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	0	3,247
Liabilities	0	652
Not designated as hedging instruments: | Economic hedge of embedded derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	0	2,232
Liabilities	$ 0	$ 637

Derivatives and Hedging Activ_8

Derivatives and Hedging Activities - Offsetting Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative assets
Gross Amounts	$ 173,208	$ 207,037
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts	173,208	207,037
Gross Amounts not Offset in the Balance Sheet	(47,621)	(47,538)
Net	125,587	159,499
Derivative liabilities
Gross Amounts	69,010	49,326
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts	69,010	49,326
Gross Amounts not Offset in the Balance Sheet	(47,621)	(47,538)
Net	$ 21,389	$ 1,788

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, 2022	Dec. 31, 2021
Assets:
Derivative instruments	$ 141,519	$ 177,349
Total financial assets	405,886	763,030
Liabilities:
Derivative instruments	52,032	34,272
Money market and deposit accounts
Assets:
Cash and cash equivalents	264,367	585,681
Level 1
Assets:
Derivative instruments	0	0
Total financial assets	264,367	585,681
Liabilities:
Derivative instruments	0	0
Level 1 | Money market and deposit accounts
Assets:
Cash and cash equivalents	264,367	585,681
Level 2
Assets:
Derivative instruments	141,519	177,349
Total financial assets	141,519	177,349
Liabilities:
Derivative instruments	52,032	34,272
Level 2 | Money market and deposit accounts
Assets:
Cash and cash equivalents	$ 0	$ 0

Leases - Significant Lease Tran

Leases - Significant Lease Transactions (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)option	Dec. 31, 2021USD ($)
Lessee, Lease, Description [Line Items]
Finance lease right-of-use assets	$ 1,893,388	$ 1,875,696
Finance lease liability	2,175,639
Operating lease right-of-use assets	1,234,257	$ 1,282,418
Operating lease liability	1,206,317
Atlanta 1 ("AT1") data center lease extended & expansion
Lessee, Lease, Description [Line Items]
Finance lease right-of-use assets	71,994
Finance lease liability	72,549
Operating lease right-of-use assets	(1,836)
Operating lease liability	$ (2,391)
Operating and finance lease term (in years)	12 years
Number of additional renewal options | option	3
Operating and finance lease renewal term (in years)	10 years
Number of renewal options | option	2

Leases - Lease Expenses (Detail

Leases - Lease Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Finance lease cost
Amortization of ROU assets	$ 40,123	$ 36,128
Interest on lease liabilities	28,887	30,193
Total finance lease cost	69,010	66,321
Operating lease cost	51,630	56,454
Variable lease cost	7,616	8,040
Total lease cost	$ 128,256	$ 130,815

Leases - Other Information (Det

Leases - Other Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$ 28,297	$ 28,399
Operating cash flows from operating leases	47,970	52,092
Financing cash flows from finance leases	40,773	32,584
Right-of-use assets obtained in exchange for lease obligations
Finance leases	26,339	186,981
Operating leases	$ 7,400
Operating leases		$ (1,948)
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	6.00%		7.00%
Weighted-average discount rate - operating leases	4.00%		4.00%
Finance lease right-of-use assets	$ 1,893,388		$ 1,875,696
Accumulated amortization, finance lease, right-of-use asset	$ 755,900		$ 726,400

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Operating Leases
2022 (9 months remaining)	$ 135,547
2023	179,941
2024	165,358
2025	155,133
2026	144,660
Thereafter	826,122
Total lease payments	1,606,761
Plus amount representing residual property value	0
Less imputed interest	(400,444)
Total	1,206,317
Finance Leases
2022 (9 months remaining)	188,375
2023	240,325
2024	241,070
2025	238,414
2026	228,629
Thereafter	2,079,500
Total lease payments	3,216,313
Plus amount representing residual property value	0
Less imputed interest	(1,040,674)
Total	2,175,639
Total
2022 (9 months remaining)	323,922
2023	420,266
2024	406,428
2025	393,547
2026	373,289
Thereafter	2,905,622
Total lease payments	4,823,074
Plus amount representing residual property value	0
Less imputed interest	(1,441,118)
Total	3,381,956
Lessee, Lease, Description [Line Items]
Operating and finance leases not yet commenced, liability	$ 888,000
Minimum
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term	5 years
Maximum
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term	27 years

Debt Facilities - Mortgage and

Debt Facilities - Mortgage and Loans Payable (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Loans payable, gross	$ 723,030	$ 618,388
Less the amount representing debt discount and debt issuance cost	(1,078)	(354)
Loans payable current and non current	723,516	619,664
Less current portion	(31,993)	(33,087)
Loans payable, noncurrent	691,523	586,577
Term loans
Debt Instrument [Line Items]
Loans payable, gross	656,750	549,697
Mortgage payable and other loans payable
Debt Instrument [Line Items]
Loans payable, gross	66,280	68,691
Mortgage
Debt Instrument [Line Items]
Add amount representing unamortized mortgage premium	$ 1,564	$ 1,630

Debt Facilities - Additional In

Debt Facilities - Additional Information (Details)

Jan. 07, 2022USD ($)

Jan. 07, 2022GBP (£)

Jun. 02, 2021USD ($)

May 17, 2021USD ($)

Mar. 24, 2021USD ($)

Mar. 31, 2022USD ($)credit

Mar. 31, 2021USD ($)

Jan. 07, 2022GBP (£)

Dec. 31, 2021USD ($)

May 15, 2021USD ($)

Mar. 15, 2021USD ($)

Mar. 10, 2021USD ($)

Mar. 10, 2021EUR (€)

Dec. 31, 2017USD ($)

Debt Instrument [Line Items]

Amount outstanding under the Term Loan Facility, net

$ 11,792,184,000

(Gain) loss on debt extinguishment

(529,000)

$ 13,058,000

Amount of debt discounts and debt issuance costs

1,078,000

$ 354,000

Interest paid, net of capitalized interest

$ 99,600,000

94,900,000

Line of Credit | 2017 Senior Credit Facility

Debt Instrument [Line Items]

Borrowing capacity

$ 3,000,000,000

Line of Credit | 2022 Senior Credit Facility | Minimum

Debt Instrument [Line Items]

Quarterly facility fee percentage

0.07%

Line of Credit | 2022 Senior Credit Facility | Maximum

Debt Instrument [Line Items]

Quarterly facility fee percentage

0.25%

Line of Credit | 2022 Senior Credit Facility | SOFR | Minimum

Debt Instrument [Line Items]

Variable rate (percent)

0.555%

Line of Credit | 2022 Senior Credit Facility | SOFR | Maximum

Debt Instrument [Line Items]

Variable rate (percent)

1.20%

Line of Credit | 2022 Senior Credit Facility | SONIA | Minimum

Debt Instrument [Line Items]

Variable rate (percent)

0.625%

Line of Credit | 2022 Senior Credit Facility | SONIA | Maximum

Debt Instrument [Line Items]

Variable rate (percent)

1.45%

Senior Notes

Debt Instrument [Line Items]

Debt issuance cost, net

$ 113,758,000

117,986,000

Amount outstanding under the Term Loan Facility, net

$ 10,953,832,000

10,984,144,000

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%

Redemption of senior debt

$ 590,700,000

(Gain) loss on debt extinguishment

13,200,000

Redemption premium

8,500,000

Write off of unamortized debt issuance

$ 4,700,000

Senior Notes | 1.450% Senior Notes due 2026

Debt Instrument [Line Items]

Aggregate principal debt amount issued

$ 700,000,000

Interest rate (percent)

1.45%

1.45%

Amount of debt discounts and debt issuance costs

$ 6,400,000

Senior Notes | 2.000% Senior Notes due 2028

Debt Instrument [Line Items]

Aggregate principal debt amount issued

$ 400,000,000

Interest rate (percent)

2.00%

2.00%

Amount of debt discounts and debt issuance costs

5,300,000

Senior Notes | 2.500% Senior Notes due 2031

Debt Instrument [Line Items]

Aggregate principal debt amount issued

$ 1,000,000,000

Interest rate (percent)

2.50%

2.50%

Amount of debt discounts and debt issuance costs

13,000,000

Senior Notes | 3.400% Senior Notes due 2052

Debt Instrument [Line Items]

Aggregate principal debt amount issued

$ 500,000,000

Interest rate (percent)

3.40%

3.40%

Amount of debt discounts and debt issuance costs

$ 9,300,000

Senior Notes | 5.375% Senior Notes due 2027

Debt Instrument [Line Items]

Interest rate (percent)

5.375%

(Gain) loss on debt extinguishment

$ 100,600,000

Redemption premium

90,700,000

Write off of unamortized debt issuance

$ 9,900,000

Revolving Credit Facility | Line of Credit

Debt Instrument [Line Items]

Amount available to borrow

$ 3,900,000,000

Revolving Credit Facility | Line of Credit | 2017 Senior Credit Facility

Debt Instrument [Line Items]

Borrowing capacity

2,000,000,000

Revolving Credit Facility | Line of Credit | 2022 Senior Credit Facility

Debt Instrument [Line Items]

Borrowing capacity

$ 4,000,000,000

Debt issuance cost, net

6,500,000

Term Loan Facility | SEK Term Loan

Debt Instrument [Line Items]

Repayments of debt

$ 285,400,000

Term Loan Facility | JPY Term Loan

Debt Instrument [Line Items]

Repayments of debt

$ 374,500,000

Term Loan Facility | Line of Credit

Debt Instrument [Line Items]

Amount outstanding under the Term Loan Facility, net

$ 655,700,000

$ 549,300,000

Term Loan Facility | Line of Credit | JPY Term Loan

Debt Instrument [Line Items]

Aggregate principal debt amount issued

424,700,000

Term Loan Facility | Line of Credit | 2017 Senior Credit Facility

Debt Instrument [Line Items]

Borrowing capacity

$ 1,000,000,000

Repayments of debt

549,600,000

Term Loan Facility | Line of Credit | 2022 Senior Credit Facility

Debt Instrument [Line Items]

Borrowing capacity | £

£ 500,000,000

Debt issuance cost, net

800,000

Proceeds from lines of credit

$ 676,900,000

£ 500,000,000

Letter of Credit | Line of Credit

Debt Instrument [Line Items]

Numbers of letters of credit outstanding | credit

40

Letters of credit outstanding, amount

$ 92,000,000

Debt Facilities - Senior Notes

Debt Facilities - Senior Notes (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	May 17, 2021	Mar. 10, 2021
Debt Instrument [Line Items]
Total long term debt	$ 11,792,184
Senior Notes
Debt Instrument [Line Items]
Long term debt, gross	11,067,590	$ 11,102,130
Less amount representing unamortized debt issuance cost	(113,758)	(117,986)
Total long term debt	10,953,832	10,984,144
Less current portion	0	0
Total	10,953,832	10,984,144
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 | 1.450% Senior Notes due 2026
Debt Instrument [Line Items]
Long term debt, gross	$ 700,000	$ 700,000
Effective interest rate	1.64%	1.64%
Interest rate (percent)	1.45%		1.45%
Senior Notes | 0.250% Euro Senior Notes due 2027
Debt Instrument [Line Items]
Long term debt, gross	$ 553,450	$ 569,150
Effective interest rate	0.45%	0.45%
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 | 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 | 2.000% Senior Notes due 2028
Debt Instrument [Line Items]
Long term debt, gross	$ 400,000	$ 400,000
Effective interest rate	2.21%	2.21%
Interest rate (percent)	2.00%		2.00%
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 | 2.500% Senior Notes due 2031
Debt Instrument [Line Items]
Long term debt, gross	$ 1,000,000	$ 1,000,000
Effective interest rate	2.65%	2.65%
Interest rate (percent)	2.50%		2.50%
Senior Notes | 1.000% Euro Senior Notes due 2033
Debt Instrument [Line Items]
Long term debt, gross	$ 664,140	$ 682,980
Effective interest rate	1.18%	1.18%
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%
Senior Notes | 3.400% Senior Notes due 2052
Debt Instrument [Line Items]
Long term debt, gross	$ 500,000	$ 500,000
Effective interest rate	3.50%	3.50%
Interest rate (percent)	3.40%		3.40%

Debt Facilities - Summary of Ma

Debt Facilities - Summary of Maturities of Debt Instruments (Detail) $ in Thousands	Mar. 31, 2022USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2022 (9 months remaining)	$ 30,403
2023	6,595
2024	1,006,193
2025	1,204,698
2026	1,304,832
Thereafter	8,239,463
Total long term debt	$ 11,792,184

Debt Facilities - Fair Value of

Debt Facilities - Fair Value of Debt Instruments (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Mortgage and loans payable	$ 761,651	$ 621,051
Senior notes	$ 10,051,629	$ 11,049,834

Debt Facilities - Interest Char

Debt Facilities - Interest Charges (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Debt Disclosure [Abstract]
Interest expense	$ 79,965	$ 89,681
Interest capitalized	4,420	6,108
Interest charges incurred	$ 84,385	$ 95,789

Commitments and Contingencies (

Commitments and Contingencies (Detail)	Mar. 31, 2022USD ($)
EMEA 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Other Commitments [Line Items]
Ownership percentage	20.00%
EMEA 2 Joint Venture | EMEA 2 Joint Venture Credit Facility | Variable Interest Entity, Not Primary Beneficiary
Other Commitments [Line Items]
Borrowing capacity	$ 1,400,000,000
Percentage guarantee on debt payments	0.20
Maximum guarantee under credit facility arrangement	$ 302,200,000
Maximum future payments under debt guarantees	37,133,000
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	1,100,000,000
Miscellaneous purchase commitments
Other Commitments [Line Items]
Purchase commitments	$ 1,400,000,000

Stockholders' Equity - Rollforw

Stockholders' Equity - Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	90,571,406
Beginning balance	$ 10,881,764	$ 10,634,118
Net income (loss)	147,693	156,074
Other comprehensive loss	32,840	(95,481)
Issuance of common stock and release of treasury stock for employee equity awards	43,876	40,034
Dividend distribution on common stock	(282,031)	(256,321)
Settlement of accrued dividends on vested equity awards	(497)	(437)
Accrued dividends on unvested equity awards	(2,045)	(3,661)
Stock-based compensation, net of estimated forfeitures	$ 121,210	102,349
Ending balance (in shares)	91,013,824
Ending balance	$ 10,942,810	10,576,675
Equinix Stockholders' Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	10,882,082	10,633,988
Net income (loss)	147,453	156,362
Other comprehensive loss	32,837	(95,480)
Issuance of common stock and release of treasury stock for employee equity awards	43,876	40,034
Dividend distribution on common stock	(282,031)	(256,321)
Settlement of accrued dividends on vested equity awards	(497)	(437)
Accrued dividends on unvested equity awards	(2,045)	(3,661)
Stock-based compensation, net of estimated forfeitures	121,210	102,349
Ending balance	$ 10,942,885	$ 10,576,834
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	90,872,826	89,462,304
Beginning balance	$ 91	$ 89
Issuance of common stock and release of treasury stock for employee equity awards (in shares)	430,973	428,618
Issuance of common stock and release of treasury stock for employee equity awards	$ 0	$ 1
Ending balance (in shares)	91,303,799	89,890,922
Ending balance	$ 91	$ 90
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	(301,420)	(328,052)
Beginning balance	$ (112,208)	$ (122,118)
Issuance of common stock and release of treasury stock for employee equity awards (in shares)	11,445	11,640
Issuance of common stock and release of treasury stock for employee equity awards	$ 4,259	$ 4,332
Ending balance (in shares)	(289,975)	(316,412)
Ending balance	$ (107,949)	$ (117,786)
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	15,984,597	15,028,357
Issuance of common stock and release of treasury stock for employee equity awards	39,617	35,701
Stock-based compensation, net of estimated forfeitures	121,210	102,349
Ending balance	16,145,424	15,166,407
Accumulated Dividends
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(6,165,140)	(5,119,274)
Dividend distribution on common stock	(282,031)	(256,321)
Settlement of accrued dividends on vested equity awards	(497)	(437)
Accrued dividends on unvested equity awards	(2,045)	(3,661)
Ending balance	(6,449,713)	(5,379,693)
AOCI (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(1,085,751)	(913,368)
Other comprehensive loss	32,837	(95,480)
Ending balance	(1,052,914)	(1,008,848)
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	2,260,493	1,760,302
Net income (loss)	147,453	156,362
Ending balance	2,407,946	1,916,664
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(318)	130
Net income (loss)	240	(288)
Other comprehensive loss	3	(1)
Ending balance	$ (75)	$ (159)

Stockholders' Equity - Rollfo_2

Stockholders' Equity - Rollforward - Additional Information (Details) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Equity [Abstract]
Dividend distribution on common stock (in dollars per share)	$ 3.10	$ 2.87

Stockholders' Equity - Componen

Stockholders' Equity - Components of Accumulated Other Comprehensive Loss (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)countryplan	Mar. 31, 2021USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 10,881,764	$ 10,634,118
Net Change	32,840	(95,481)
Ending balance	$ 10,942,810	10,576,675
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	$ (1,085,751)	(913,368)
Net Change	32,837	(95,480)
Ending balance	(1,052,914)	$ (1,008,848)
Foreign currency translation adjustment ("CTA") loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1,068,399)
Net Change	(122,537)
Ending balance	(1,190,936)
Unrealized gain (loss) on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(6,590)
Net Change	64,037
Ending balance	57,447
Net investment hedge CTA gain (loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(9,952)
Net Change	91,358
Ending balance	81,406
Net actuarial loss on defined benefit plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(810)
Net Change	(21)
Ending balance	$ (831)

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Oct. 31, 2020
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, approved (in shares)	750,583
Weighted-average grant date fair value (in dollars per share)	$ 665.53
Requisite service period (in years)	3 years 6 months
2020 ATM Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of stock, equity offering agreement, authorized			$ 1,500,000,000
Issuance of common stock in offering (in shares)		0
Equity Forward Amendment under the 2020 ATM Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of stock, equity offering agreement, available for sale	$ 1,000,000,000

Stockholders' Equity - Stock-Ba

Stockholders' Equity - Stock-Based Compensation Expense Recognized in Company's Condensed Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 89,952	$ 78,350
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	10,443	8,467
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	20,184	17,703
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 59,325	$ 52,180

Segment Information - Narrative

Segment Information - Narrative (Detail)	3 Months Ended
	Mar. 31, 2022segment
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, 2022	Mar. 31, 2021
Revenue from External Customer [Line Items]
Revenues	$ 1,734,447	$ 1,596,064
Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	1,642,324	1,510,933
Colocation
Revenue from External Customer [Line Items]
Revenues	1,219,355	1,130,292
Interconnection
Revenue from External Customer [Line Items]
Revenues	309,230	279,719
Managed infrastructure
Revenue from External Customer [Line Items]
Revenues	100,854	93,345
Other
Revenue from External Customer [Line Items]
Revenues	12,885	7,577
Non-recurring revenues
Revenue from External Customer [Line Items]
Revenues	92,123	85,131
Americas
Revenue from External Customer [Line Items]
Revenues	800,421	725,940
Americas | Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	757,630	692,869
Americas | Colocation
Revenue from External Customer [Line Items]
Revenues	522,171	487,459
Americas | Interconnection
Revenue from External Customer [Line Items]
Revenues	181,103	164,887
Americas | Managed infrastructure
Revenue from External Customer [Line Items]
Revenues	49,222	38,485
Americas | Other
Revenue from External Customer [Line Items]
Revenues	5,134	2,038
Americas | Non-recurring revenues
Revenue from External Customer [Line Items]
Revenues	42,791	33,071
EMEA
Revenue from External Customer [Line Items]
Revenues	550,480	518,717
EMEA | Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	520,113	487,082
EMEA | Colocation
Revenue from External Customer [Line Items]
Revenues	414,569	388,275
EMEA | Interconnection
Revenue from External Customer [Line Items]
Revenues	68,140	61,650
EMEA | Managed infrastructure
Revenue from External Customer [Line Items]
Revenues	30,990	32,111
EMEA | Other
Revenue from External Customer [Line Items]
Revenues	6,414	5,046
EMEA | Non-recurring revenues
Revenue from External Customer [Line Items]
Revenues	30,367	31,635
Asia-Pacific
Revenue from External Customer [Line Items]
Revenues	383,546	351,407
Asia-Pacific | Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	364,581	330,982
Asia-Pacific | Colocation
Revenue from External Customer [Line Items]
Revenues	282,615	254,558
Asia-Pacific | Interconnection
Revenue from External Customer [Line Items]
Revenues	59,987	53,182
Asia-Pacific | Managed infrastructure
Revenue from External Customer [Line Items]
Revenues	20,642	22,749
Asia-Pacific | Other
Revenue from External Customer [Line Items]
Revenues	1,337	493
Asia-Pacific | Non-recurring revenues
Revenue from External Customer [Line Items]
Revenues	$ 18,965	$ 20,425

Segment Information - Schedule

Segment Information - Schedule of Adjusted EBITDA (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Total adjusted EBITDA	$ 799,712	$ 773,232
Depreciation, amortization and accretion expense	(436,386)	(394,318)
Stock-based compensation expense	(89,952)	(78,350)
Transaction costs	(4,240)	(1,182)
Loss on asset sales	(1,818)	(1,720)
Income from operations	267,316	297,662
Americas
Segment Reporting Information [Line Items]
Total adjusted EBITDA	356,555	344,492
EMEA
Segment Reporting Information [Line Items]
Total adjusted EBITDA	260,345	243,563
Asia-Pacific
Segment Reporting Information [Line Items]
Total adjusted EBITDA	$ 182,812	$ 185,177

Segment Information - Segment D

Segment Information - Segment Disclosures (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Total depreciation and amortization	$ 435,340	$ 395,017
Capital expenditures	412,518	563,598
Americas
Segment Reporting Information [Line Items]
Total depreciation and amortization	229,709	203,433
Capital expenditures	185,046	205,174
EMEA
Segment Reporting Information [Line Items]
Total depreciation and amortization	115,054	110,779
Capital expenditures	162,503	235,416
Asia-Pacific
Segment Reporting Information [Line Items]
Total depreciation and amortization	90,577	80,805
Capital expenditures	$ 64,969	$ 123,008

Segment Information - Long-Live

Segment Information - Long-Lived Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	$ 15,512,991	$ 15,445,775
Operating lease right-of-use assets	1,234,257	1,282,418
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	6,892,787	6,777,174
Operating lease right-of-use assets	286,499	297,300
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	5,106,472	5,125,341
Operating lease right-of-use assets	455,048	470,330
Asia-Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Company's long-lived assets	3,513,732	3,543,260
Operating lease right-of-use assets	$ 492,710	$ 514,788

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, S/ in Millions	Apr. 29, 2022USD ($)	Apr. 29, 2022PEN (S/)	Apr. 27, 2022$ / shares	Apr. 06, 2022USD ($)center	Apr. 01, 2022USD ($)	Apr. 05, 2022USD ($)	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Subsequent Event [Line Items]
Equity method investments							$ 277,315,000	$ 245,049,000
Amount of debt discounts and debt issuance costs							$ 1,078,000	$ 354,000
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared (in dollars per share) | $ / shares			$ 3.10
Subsequent Event | 3.900% Senior Notes due 2032 | Senior Notes
Subsequent Event [Line Items]
Interest rate (percent)						3.90%
Aggregate principal debt amount issued						$ 1,200,000,000
Amount of debt discounts and debt issuance costs						$ 16,400,000
Subsequent Event | MainOne
Subsequent Event [Line Items]
Cash consideration for acquisition					$ 320,000,000
Subsequent Event | Entel Peru | Forecast
Subsequent Event [Line Items]
Consideration transferred	$ 70,700,000	S/ 270.8
Subsequent Event | Asia-Pacific 3 Joint Venture
Subsequent Event [Line Items]
Number of data centers developed and operated | center				2
Equity method investments				$ 17,000,000
Ownership Percentage				20.00%