Equinix (EQIX) 10-Q 27 Oct 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Oct. 26, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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		93,883,424
Entity Central Index Key	0001101239
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
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	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 2,357,497	$ 1,906,421
Accounts receivable, net of allowance of $20,199 and $12,225	1,030,694	855,380
Other current assets	497,189	459,138
Assets held for sale	0	84,316
Total current assets	3,885,380	3,305,255
Property, plant and equipment, net	17,370,577	16,649,534
Operating lease right-of-use assets	1,516,011	1,427,950
Goodwill	5,589,124	5,654,217
Intangible assets, net	1,730,538	1,897,649
Other assets	1,592,972	1,376,137
Total assets	31,684,602	30,310,742
Current liabilities:
Accounts payable and accrued expenses	1,058,235	1,004,800
Accrued property, plant and equipment	363,549	281,347
Current portion of operating lease liabilities	135,636	139,538
Current portion of finance lease liabilities	133,360	151,420
Current portion of mortgage and loans payable	8,211	9,847
Other current liabilities	194,700	251,346
Total current liabilities	1,893,691	1,838,298
Operating lease liabilities, less current portion	1,399,852	1,272,812
Finance lease liabilities, less current portion	2,121,382	2,143,690
Mortgage and loans payable, less current portion	637,625	642,708
Senior notes	12,945,222	12,109,539
Other liabilities	775,271	797,863
Total liabilities	19,773,043	18,804,910
Commitments and contingencies
Redeemable non-controlling interest	25,000	0
Equinix stockholders’ equity:
Common stock, $0.001 par value per share: 300,000,000 shares authorized; 94,036,882 issued and 93,883,296 outstanding in 2023 and 92,813,976 issued and 92,620,703 outstanding in 2022	94	93
Additional paid-in capital	18,051,150	17,320,017
Treasury stock, at cost; 153,586 shares in 2023 and 193,273 shares in 2022	(57,199)	(71,966)
Accumulated dividends	(8,287,599)	(7,317,570)
Accumulated other comprehensive loss	(1,526,010)	(1,389,446)
Retained earnings	3,706,448	2,964,838
Total Equinix stockholders' equity	11,886,884	11,505,966
Non-controlling interests	(325)	(134)
Total stockholders’ equity	11,886,559	11,505,832
Total liabilities, redeemable non-controlling interest and stockholders’ equity	$ 31,684,602	$ 30,310,742

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance	$ 20,199	$ 12,225
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)	94,036,882	92,813,976
Common stock, shares outstanding (shares)	93,883,296	92,620,703
Treasury stock (shares)	153,586	193,273

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenues	$ 2,061,030	$ 1,840,659	$ 6,077,647	$ 5,392,260
Costs and operating expenses:
Cost of revenues	1,068,991	934,669	3,135,882	2,780,801
Sales and marketing	212,506	193,089	638,193	579,327
General and administrative	403,890	375,483	1,205,193	1,098,518
Transaction costs	(775)	2,007	6,543	11,310
(Gain) loss on asset sales	(3,933)	2,252	(5,022)	3,976
Total costs and operating expenses	1,680,679	1,507,500	4,980,789	4,473,932
Income from operations	380,351	333,159	1,096,858	918,328
Interest income	23,111	11,192	66,002	17,806
Interest expense	(101,385)	(91,346)	(298,839)	(262,137)
Other expense	(5,972)	(6,735)	(9,987)	(22,522)
Gain (loss) on debt extinguishment	(360)	75	(106)	184
Income before income taxes	295,745	246,345	853,928	651,659
Income tax expense	(19,985)	(34,606)	(112,425)	(75,985)
Net income	275,760	211,739	741,503	575,674
Net (income) loss attributable to non-controlling interests	34	68	107	(92)
Net income attributable to Equinix	$ 275,794	$ 211,807	$ 741,610	$ 575,582
Earnings per share (“EPS”) attributable to Equinix:
Basic EPS (in dollars per share)	$ 2.94	$ 2.30	$ 7.94	$ 6.31
Weighted-average shares for basic EPS (in shares)	93,683	91,896	93,396	91,234
Diluted EPS (in dollars per share)	$ 2.93	$ 2.30	$ 7.91	$ 6.29
Weighted-average shares for diluted EPS (in shares)	94,168	92,135	93,788	91,519

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 275,760	$ 211,739	$ 741,503	$ 575,674
Other comprehensive loss, net of tax:
Foreign currency translation adjustment (“CTA”) loss, net of tax effects of $0, $0, $0 and $0	(412,910)	(703,640)	(229,773)	(1,566,602)
Net investment hedge CTA gain, net of tax effects of $0, $0, $0 and $0	149,608	360,350	85,462	805,661
Unrealized gain on cash flow hedges, net of tax effects of $(9,333), $(2,250), $(4,378) and $(14,268)	25,685	6,120	8,012	90,774
Net actuarial loss on defined benefit plans, net of tax effects of $29, $5, $84 and $14	(119)	(19)	(350)	(59)
Total other comprehensive loss, net of tax	(237,736)	(337,189)	(136,649)	(670,226)
Comprehensive income (loss), net of tax	38,024	(125,450)	604,854	(94,552)
Net (income) loss attributable to non-controlling interests	34	68	107	(92)
Other comprehensive loss attributable to non-controlling interests	182	28	85	60
Comprehensive income (loss) attributable to Equinix	$ 38,240	$ (125,354)	$ 605,046	$ (94,584)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment ("CTA") gain (loss), net of tax	$ 0	$ 0	$ 0	$ 0
Net investment hedge CTA gain (loss), tax	0	0	0	0
Unrealized gain (loss) on cash flow hedges, tax	(9,333)	(2,250)	(4,378)	(14,268)
Net actuarial loss on defined benefit plans, tax	$ 29	$ 5	$ 84	$ 14

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 741,503	$ 575,674
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	1,224,476	1,145,485
Stock-based compensation	301,707	296,464
Amortization of intangible assets	157,199	153,317
Amortization of debt issuance costs and debt discounts	13,927	13,273
Provision for credit loss allowance	14,873	5,534
(Gain) Loss on asset sales	(5,022)	3,976
(Gain) Loss on debt extinguishment	106	(184)
Other items	26,992	18,964
Changes in operating assets and liabilities:
Accounts receivable	(199,703)	(97,206)
Income taxes, net	(6,585)	9,874
Other assets	(127,695)	(145,376)
Operating lease right-of-use assets	117,080	112,923
Operating lease liabilities	(98,964)	(98,245)
Accounts payable and accrued expenses	84,949	83,089
Other liabilities	(26,962)	125,431
Net cash provided by operating activities	2,217,881	2,202,993
Cash flows from investing activities:
Purchases of investments	(81,347)	(109,420)
Sales of investments	0	22,073
Business acquisitions, net of cash and restricted cash acquired	0	(964,010)
Real estate acquisitions	(153,293)	(39,899)
Purchases of other property, plant and equipment	(1,785,298)	(1,450,077)
Proceeds from sale of assets, net of cash transferred	76,936	249,906
Net cash used in investing activities	(1,943,002)	(2,291,427)
Cash flows from financing activities:
Proceeds from employee equity programs	86,963	81,543
Payment of dividends	(970,992)	(863,886)
Proceeds from public offering of common stock, net of issuance costs	300,775	796,018
Proceeds from senior notes, net of debt discounts	902,092	1,193,688
Proceed from mortgage and loans payable	0	676,850
Repayment of finance lease liabilities	(98,091)	(97,808)
Proceeds from redeemable non-controlling interest	25,000	0
Repayment of mortgage and loans payable	(5,556)	(586,227)
Debt issuance costs	(7,239)	(17,731)
Net cash provided by financing activities	232,952	1,182,447
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash	(57,825)	(135,599)
Net increase in cash, cash equivalents and restricted cash	450,006	958,414
Cash, cash equivalents and restricted cash at beginning of period	1,908,248	1,549,454
Cash, cash equivalents and restricted cash at end of period	2,358,254	2,507,868
Cash and cash equivalents	2,357,497	2,500,816
Current portion of restricted cash included in other current assets	666	2,529
Non-current portion of restricted cash included in other assets	91	4,523
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows	$ 2,358,254	$ 2,507,868

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
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. Our condensed consolidated balance sheet data as of December 31, 2022 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" or "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 17, 2023. Results for the interim periods are not necessarily indicative of results for the entire fiscal year. Consolidation The accompanying unaudited condensed consolidated financial statements include the acquisitions of: • Four data centers as well as a subsea cable and terrestrial fiber network in West Africa acquired from MainOne Cable Company ("MainOne") starting from April 1, 2022; and • Four data centers in Chile and a data center in Peru acquired from Empresa Nacional De Telecomunicaciones S.A. ("Entel") starting from May 2, 2022 and August 1, 2022, respectively. 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 13.2% and 11.7% for the nine months ended September 30, 2023 and 2022, respectively. The increase in the effective tax rate for the nine months ended September 30, 2023 as compared to the same period in 2022 is primarily due to the reversal of uncertain tax positions from the settlement of tax audits in the EMEA region of approximately $40.0 million in the prior period versus $13.4 million in the current period. Recent Accounting Pronouncements Accounting Standards Adopted Supplier Finance Programs In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2022-04, "Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations". This guidance requires annual and interim disclosures for entities that use supplier finance programs in connection with the purchase of goods and services. The ASU is effective for fiscal years beginning after December 15, 2022, with early adoption permitted, except for the amendment on roll forward information, which is effective for fiscal years beginning after December 15, 2023. On January 1, 2023, we adopted this ASU and the adoption of this standard did not have an impact on our condensed consolidated financial statements. Reference Rate Reform In March 2020, FASB issued ASU 2020-04, Reference Rate Reform ("Topic 848"): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. In addition, FASB issued ASU 2021-01, Reference Rate Reform ("Topic 848"), which clarifies the scope of Topic 848. Collectively, the guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. ASU 2021-01 is effective upon issuance and ASU 2020-04 was effective for all entities as of March 12, 2020, and together remained effective through December 31, 2022. In December 2022, FASB issued ASU 2022-06, Reference Rate Reform ("Topic 848"): Deferral of the Sunset Date of Topic 848. Because the current relief in Topic 848 may not cover a period of time during which a significant number of modifications may take place, the amendments in this Update defer the sunset date of Topic 848 from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. We adopted these ASUs upon their respective issuances and there was no impact on our consolidated financial statements as a result of adopting the guidance. We will evaluate our debt, derivative and lease contracts that may become eligible for modification relief and may apply the elections prospectively as needed. 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 a material impact on our condensed consolidated financial statements. Business Combinations

Revenue

Revenue	9 Months Ended
	Sep. 30, 2023
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, 2023 $ 855,380 $ 27,608 $ 55,405 $ 132,090 $ 155,334 Closing balances as of September 30, 2023 1,030,694 31,366 74,786 116,937 153,129 Increase (Decrease) $ 175,314 $ 3,758 $ 19,381 $ (15,153) $ (2,205) (1) The net change in our allowance for credit losses was insignificant during the nine months ended September 30, 2023. 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 nine months ended September 30, 2023 from the opening deferred revenue balance as of January 1, 2023 was $80.0 million. Remaining performance obligations As of September 30, 2023, approximately $9.8 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 three 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, variable price increases, and 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	9 Months Ended
	Sep. 30, 2023
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 Nine Months Ended 2023 2022 2023 2022 Net income $ 275,760 $ 211,739 $ 741,503 $ 575,674 Net (income) loss attributable to non-controlling interests 34 68 107 (92) Net income attributable to Equinix $ 275,794 $ 211,807 $ 741,610 $ 575,582 Weighted-average shares used to calculate basic EPS 93,683 91,896 93,396 91,234 Effect of dilutive securities: Employee equity awards 485 239 392 285 Weighted-average shares used to calculate diluted EPS 94,168 92,135 93,788 91,519 EPS attributable to Equinix: Basic EPS $ 2.94 $ 2.30 $ 7.94 $ 6.31 Diluted EPS $ 2.93 $ 2.30 $ 7.91 $ 6.29 We have excluded common stock related to employee equity awards in the diluted EPS calculation above of approximately 25,000 and 351,000 shares for the three months ended September 30, 2023 and 2022, respectively, and approximately 79,000 and 379,000 shares for the nine months ended September 30, 2023 and 2022, respectively, because its effect would be anti-dilutive.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions 2022 Acquisitions Acquisition of Entel Chile Data Centers (the "Entel Chile Acquisition") and Entel Peru Data Center (the "Entel Peru Acquisition") On May 2, 2022, we further expanded in Latin America through an acquisition of four data centers in Chile from Entel, a leading Chilean telecommunications provider, for a total purchase consideration of $638.3 million at the exchange rate in effect on that date. On August 1, 2022, we completed the acquisition of a data center in Peru from Entel for a total purchase consideration of $80.3 million at the exchange rate in effect on that date. The Entel Chile Acquisition and Entel Peru Acquisition support our ongoing expansion to meet customer demand in the Latin American market. Acquisition of MainOne (the "MainOne Acquisition") On April 1, 2022, we completed the acquisition of all outstanding shares of MainOne, which consisted of four data centers as well as a subsea cable and terrestrial fiber network. We acquired MainOne and its assets for a total purchase consideration of $278.4 million. The MainOne Acquisition supports our ongoing expansion to meet customer demand in the West African market. Purchase Price Allocation Each of the acquisitions noted above constitute a business under the accounting standard for business combinations and, therefore, were accounted for as business combinations using the acquisition method of accounting. Under this method, the total purchase price is allocated to the assets acquired and liabilities assumed measured at fair value on the date of acquisition, except where alternative measurement is required under GAAP. During the nine months ended September 30, 2023, we completed the detailed valuation analysis and the final allocation of purchase price for the Entel Chile, Entel Peru, and MainOne Acquisitions. A summary of the final allocation of total purchase consideration is presented as follows (in thousands): Entel Chile Entel Peru MainOne Cash and cash equivalents $ — $ — $ 33,026 Accounts receivable — — 9,431 Other current assets 12,424 — 21,988 Property, plant and equipment 81,132 13,423 239,583 Intangible assets 153,489 10,000 54,800 Goodwill 380,867 46,285 110,665 Deferred tax and other assets 12,090 10,801 5,879 Total assets acquired 640,002 80,509 475,372 Accounts payable and accrued liabilities (195) — (18,525) Other current liabilities (1) — — (13,061) Mortgage and loans payable — — (25,944) Deferred tax and other liabilities (1) (1,463) (167) (139,492) Net assets acquired $ 638,344 $ 80,342 $ 278,350 (1) For the MainOne Acquisition, other current liabilities includes $9.9 million of deferred revenue - current and the other liabilities includes $95.4 million of deferred revenue - non-current. Property, plant and equipment - The fair values of property, plant and equipment acquired from these three acquisitions were estimated by applying the cost approach, with the exception of land, which we estimated by applying the market approach. The key assumptions of the cost approach include replacement cost new, physical deterioration, functional and economic obsolescence, economic useful life, remaining useful life, age and effective age. Intangible assets - The following table presents certain information on the acquired intangible assets (in thousands): Intangible Assets Fair Value Estimated Useful Lives (Years) Weighted-average Estimated Useful Lives (Years) Discount Rate Entel Chile: Customer relationships (1) $ 153,489 12.0 - 15.0 14.0 8.5% - 9.5% Entel Peru: Customer relationships (1) 10,000 15.0 15.0 7.0 % MainOne: Customer relationships (1) 51,500 10.0 - 15.0 14.0 11.5 % Trade names (2) 3,300 5.0 5.0 11.5 % (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 and/or by using benchmarking. 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. (2) The fair value of the MainOne trade name was estimated using the relief from royalty method under the income approach. We applied a relief from royalty rate of 1.0%. 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 Entel Chile and Entel Peru acquisitions is attributable to the Americas region. Goodwill from the Entel Chile acquisition is amortizable for local tax purposes, while goodwill from the Entel Peru acquisition is not expected to be amortizable for local tax purposes. Goodwill from the MainOne Acquisition is attributable to the EMEA region and is generally not deductible for local tax purposes.

Assets Held for Sale

Assets Held for Sale	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Assets Held for Sale	Assets Held for Sale In June 2021, we entered into an agreement to form a joint venture in the form of a limited liability partnership with GIC Private Limited, Singapore's sovereign wealth fund ("GIC"), to develop and operate xScale TM data centers in Europe and the Americas (the “EMEA 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 solutions. The transaction was structured to close in phases over the course of approximately two years, pending regulatory approval and other closing conditions. The assets and liabilities of the Warsaw 4 ("WA4") data center site, which were included within our EMEA region, were classified as held for sale as of June 30, 2021. In June 2022, we sold the WA4 data center in exchange for a total consideration of $61.5 million. We recognized an insignificant gain on the sale of the WA4 data center. 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 data centers in Asia-Pacific (the "Asia-Pacific 2 Joint Venture"). 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 was 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. 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. The assets and liabilities of the MX3 data center, which were included within our Americas region, were classified as held for sale as of September 30, 2021. Upon closing of the joint venture in March 2023, we sold the MX3 data center in exchange for a total consideration of $75.1 million, which was comprised of $63.9 million of net cash proceeds, a 20% partnership interest in the AMER 1 Joint Venture with a fair value of $8.4 million, and $2.8 million of receivables. During the nine months ended September 30, 2023, we recognized an insignificant loss on the sale of the MX3 data center.

Equity Method Investments

Equity Method Investments	9 Months Ended
	Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Equity Method Investments We hold various equity method investments, primarily joint venture or partnership arrangements, in order to invest in certain entities that are in line with our business development objectives, including the development and operation of xScale data centers. Some of these xScale joint ventures are classified as Variable Interest Entities ("VIEs"), as discussed further below. The Asia-Pacific 1, Asia-Pacific 2, Asia-Pacific 3, EMEA 2 and AMER 1 Joint Ventures as noted below (the "VIE Joint Ventures") share a similar purpose, design and nature of assets. 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 September 30, 2023 December 31, 2022 EMEA 1 Joint Venture with GIC 20% $ 150,165 $ 148,895 VIE Joint Ventures 20% 243,540 191,680 Other Various 10,245 7,570 Total $ 403,950 $ 348,145 Non - VIE Joint Venture EMEA 1 Joint Venture We invested in 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 and nine months ended September 30, 2023 and 2022 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 September 30, 2023, we had future equity contribution commitments of $6.3 million. VIE Joint Ventures Preceding 2022, we invested in partnerships with GIC to develop and operate xScale data centers in Asia-Pacific (the "Asia-Pacific 1 Joint Venture") and in Europe and the Americas (the EMEA 2 Joint Venture, 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). On April 6, 2022, we entered into a partnership with GIC (the "Asia-Pacific 3 Joint Venture") to develop and operate additional xScale data centers in Seoul, Korea. Upon closing, we contributed $17.0 million in exchange for a 20% partnership interest in the joint venture. On March 10, 2023, we entered into the AMER 1 Joint Venture with GIC to develop and operate xScale data centers in the Americas (see Note 5 above). Upon closing, we contributed $8.4 million in exchange for a 20% partnership interest in the joint venture. The VIE Joint Ventures are considered VIEs because they do not have sufficient funds from operations to be self-sustaining. While we provide certain management services to their operations and earn fees for the performance of such services, 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. Our share of losses of equity method investments from these joint ventures were insignificant for the three months ended September 30, 2023 and 2022, respectively, and $8.0 million and $5.5 million for the nine months ended September 30, 2023 and 2022, respectively. These amounts were 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 September 30, 2023 (in thousands): VIE Joint Ventures Equity Investment $ 243,540 Outstanding Receivables 26,706 Future Equity Contribution Commitments (1) 45,211 Maximum Future Payments under Debt Guarantees (2) 144,522 Total $ 459,979 (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. A portion of the guarantees related to our AMER 1 Joint Venture (see Note 11). Other Related Party Transactions We have lease arrangements and provide various services to the EMEA 1 Joint Venture and the VIE Joint Ventures (collectively, 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 Nine Months Ended Related Party Nature of Transaction 2023 2022 2023 2022 EMEA 1 Joint Venture Revenues $ 8,520 $ 5,957 $ 22,512 $ 31,138 EMEA 1 Joint Venture Expenses (1) 4,406 2,010 12,650 5,422 VIE Joint Ventures (2) Revenues 13,153 9,551 52,220 29,739 (1) Balances primarily consist of rent expenses for a 15-year sub-lease agreement with the EMEA 1 Joint Venture for a London data center. (2) Expenses from transactions with VIE Joint Ventures were insignificant for the three and nine months ended September 30, 2023 and 2022. 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 September 30, 2023 December 31, 2022 EMEA 1 Joint Venture Receivables $ 32,824 $ 73,929 Contract Assets 7,170 7,261 Finance Lease Right-of-Use Assets 95,409 100,968 Operating Lease Right-of-Use Assets 1,443 — Operating Lease Right-of-Use Liabilities 1,495 — Other Liabilities and Payables (1) 40,844 20,160 Deferred Revenue 14,853 15,470 Finance Lease Right-of-Use Liabilities 106,857 108,603 VIE Joint Ventures Receivables 26,706 19,935 Contract Assets 22,679 5,281 Finance Lease Right-of-Use Assets 71,308 — Operating Lease Right-of-Use Assets 1,153 — Operating Lease Right-of-Use Liabilities 1,100 — Other Liabilities and Payables 55 — Deferred Revenue 5,038 — Finance Lease Right-of-Use Liabilities 73,750 — (1) 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 Activit

Derivatives and Hedging Activities	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023 and December 31, 2022, the total principal amounts of foreign currency debt obligations designated as net investment hedges was $1.5 billion. We also utilize cross-currency interest rate swaps, designated as net investment hedges, 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 September 30, 2023 and December 31, 2022, the total notional amount of cross-currency interest rate swaps designated as net investment hedges were $3.5 billion and $3.9 billion respectively, with maturity dates ranging through 2026. From time to time, we use foreign currency forward contracts, which are designated as net investment hedges, to hedge against the effect of foreign exchange rate fluctuations on our net investment in our foreign subsidiaries. As of September 30, 2023 and December 31, 2022, the total notional amount of foreign currency forward contracts designated as net investment hedges were $359.8 million and $373.4 million, respectively. Certain of our customer agreements that are priced in currencies different from the functional or local currencies of the parties involved are deemed to have foreign currency forward contracts embedded in them. 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 and nine months ended September 30, 2023 and 2022 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Foreign currency debt $ 51,080 $ 125,840 $ 11,830 $ 283,431 Cross-currency interest rate swaps (included component) (1) 100,788 228,210 79,700 571,532 Cross-currency interest rate swaps (excluded component) (2) (11,957) (23,959) (14,775) (92,913) Foreign currency forward contracts (included component) (1) 9,822 33,257 8,701 48,900 Foreign currency forward contracts (excluded component) (3) (125) (2,998) 6 (5,289) Total $ 149,608 $ 360,350 $ 85,462 $ 805,661 Amount of gain or (loss) recognized in earnings: Location of gain or (loss) Three Months Ended Nine Months Ended 2023 2022 2023 2022 Cross-currency interest rate swaps (excluded component) (2) Interest expense $ 10,636 $ 12,739 $ 34,676 $ 37,346 Foreign currency forward contracts (excluded component) (3) Interest expense 492 (154) 1,136 (317) Total $ 11,128 $ 12,585 $ 35,812 $ 37,029 (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 and Euro. The foreign currency forward and option contracts that we use to hedge this exposure are designated as cash flow hedges. As of September 30, 2023 and December 31, 2022, the total notional amounts of these foreign exchange contracts were $856.2 million and $490.8 million, respectively. As of September 30, 2023, our foreign currency cash flow hedge instruments had maturity dates ranging from October 2023 to December 2024 and we had a net gain of $17.8 million recorded within accumulated other comprehensive income (loss) to be reclassified to revenues and expenses for cash flow hedges that will mature in the next 12 months. As of December 31, 2022, our foreign currency cash flow hedge instruments had maturity dates ranging from January 2023 to February 2024 and we had a net gain of $8.2 million recorded within accumulated other comprehensive income (loss) to be reclassified to revenues and expenses for cash flow hedges that will 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 both September 30, 2023 and December 31, 2022, we had no interest rate locks outstanding. 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 September 30, 2023 and December 31, 2022, we had a net gain of $1.2 million and $1.4 million, respectively, recorded within accumulated other comprehensive income (loss) to be reclassified to interest expense in the next 12 months for interest rate locks. We also use cross-currency swaps, which are designated as cash flow hedges, to manage the foreign currency exposure associated with a portion of our foreign currency-denominated debt. As of both September 30, 2023 and December 31, 2022, the total notional amount of cross-currency interest rate swaps, designated as cash flow hedges, was $280.3 million. The effect of cash flow hedges on accumulated other comprehensive income and the condensed consolidated statements of operations for the three and nine months ended September 30, 2023 and 2022 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Foreign currency forward and option contracts (included component) (1) $ 36,171 $ 8,720 $ 19,351 $ 55,300 Cross-currency interest rate swaps (865) — (2,280) — Interest rate locks (288) (350) (4,681) 49,742 Total $ 35,018 $ 8,370 $ 12,390 $ 105,042 Amount of gain or (loss) reclassified from accumulated other comprehensive income to income: Three Months Ended Nine Months Ended Location of gain or (loss) 2023 2022 2023 2022 Foreign currency forward contracts Revenues $ (12,192) $ 53,874 $ (6,596) $ 89,275 Foreign currency forward contracts Costs and operating expenses 8,676 (25,869) 12,863 (42,974) Interest rate locks Interest Expense 288 350 892 (376) Total $ (3,228) $ 28,355 $ 7,159 $ 45,925 (1) Included component represents foreign exchange spot rates. Derivatives Not Designated as Hedging Instruments Embedded Derivatives. As described above, certain of our customer agreements that are priced in currencies different from the functional or local currencies of the parties involved are deemed to have foreign currency forward contracts embedded in them. 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 September 30, 2023 and December 31, 2022, the total notional amounts of these foreign currency contracts were $2.2 billion and $3.0 billion, respectively. Cross-currency Interest Rate Swaps. During the three months ended September 30, 2023, we elected to de-designate a portion of our cross-currency interest rate swaps previously designated as net investment hedges. Gains and losses subsequent to the de-designation will be recognized in earnings to offset remeasurement gains and losses from foreign currency monetary assets and liabilities. We also entered into $167.7 million of cross-currency interest rate swaps, which were not previously designated as hedging instruments. As of September 30, 2023, the total notional amount of cross-currency interest rate swaps which were not designated as hedging instruments was $544.8 million. 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 Nine Months Ended Location of gain or (loss) 2023 2022 2023 2022 Embedded derivatives (1) Revenues $ — $ — $ — $ (568) Economic hedge of embedded derivatives (2) Revenues — — — (983) Foreign currency forward contracts Other income (expense) 77,823 138,725 81,591 272,342 Cross-currency interest rate swaps Other income (expense) 2,651 — 2,651 — Total $ 80,474 $ 138,725 $ 84,242 $ 270,791 (1) Embedded derivatives which are considered foreign currency forward contracts were designated as net investment hedges beginning March 31, 2022. (2) As of September 30, 2023, we had no economic hedge of embedded derivatives outstanding. Fair Value of Derivative Instruments The following table presents the fair value of derivative instruments recognized in our condensed consolidated balance sheets, excluding accrued interest, as of September 30, 2023 and December 31, 2022 (in thousands): September 30, 2023 December 31, 2022 Assets (1) Liabilities (2) Assets (1) Liabilities (2) Designated as hedging instruments: Cash flow hedges Foreign currency forward and option contracts $ 29,798 $ 6,333 $ 27,812 $ 21,352 Cross-currency interest rate swaps 22,144 — 19,239 — Net investment hedges Foreign currency forward contracts 15,089 1,875 25,077 4,805 Cross-currency interest rate swaps 282,483 — 274,234 — Total designated as hedging 349,514 8,208 346,362 26,157 Not designated as hedging instruments: Foreign currency forward contracts 31,441 3,380 58,230 7,531 Cross-currency interest rate swaps 68,512 8,758 — — Total not designated as hedging 99,953 12,138 58,230 7,531 Total Derivatives $ 449,467 $ 20,346 $ 404,592 $ 33,688 (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, inclusive of accrued interest, as of September 30, 2023 and December 31, 2022 (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 September 30, 2023 Derivative assets $ 475,060 $ — $ 475,060 $ (32,408) $ 442,652 Derivative liabilities 34,284 — 34,284 (32,408) 1,876 December 31, 2022 Derivative assets $ 424,516 $ — $ 424,516 $ (34,429) $ 390,087 Derivative liabilities 39,234 — 39,234 (34,429) 4,805

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023 and December 31, 2022 were as follows (in thousands): September 30, 2023 December 31, 2022 Fair Value Fair Value Fair Value Fair Value Level 1 Level 2 Level 1 Level 2 Assets: Money market and deposit accounts $ 1,228,428 $ 1,228,428 $ — $ 764,628 $ 764,628 $ — Derivative instruments (1) 449,467 — 449,467 404,592 — 404,592 Total $ 1,677,895 $ 1,228,428 $ 449,467 $ 1,169,220 $ 764,628 $ 404,592 Liabilities: Derivative instruments (1) $ 20,346 $ — $ 20,346 $ 33,688 $ — $ 33,688 (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 Level 3 financial assets or financial liabilities measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022.

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	Leases Significant Lease Transactions The following table summarizes the significant lease transactions during the nine months ended September 30, 2023 (in thousands): Renewal/Termination Options excluded (1) Net Incremental (2) Lease Quarter Transaction Lease Classification ROU assets ROU liabilities Chicago 1/2/4 ("CH1/2/4") data center lease expansion Q2 Expanded CH1 to additional space within the building (3) One 10-year renewal option Operating Lease $ 150,990 $ 176,316 Finance Lease 78,073 52,747 (1) These renewal/termination options are not included in determining the lease terms as we are not reasonably certain to exercise them at this time. Certain complementary leases contain one additional 10-year renewal option. (2) The net incremental amounts represent the adjustments to the right of use ("ROU") assets and liabilities recorded during the quarter that the transactions were entered. (3) The incremental balance includes the impact of reassessing lease terms of complementary leases of CH1, resulting in new lease end dates ranging from June 2037 to October 2040 from including renewal options that are reasonably certain to be exercised and in certain complementary leases changing classification. Lease Expenses The components of lease expenses are as follows (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Finance lease cost Amortization of right-of-use assets (1) $ 46,428 $ 39,456 $ 131,481 $ 120,684 Interest on lease liabilities 28,422 27,742 85,100 84,986 Total finance lease cost 74,850 67,198 216,581 205,670 Operating lease cost 57,803 55,031 168,896 159,632 Variable lease cost 17,273 12,721 46,847 30,003 Total lease cost $ 149,926 $ 134,950 $ 432,324 $ 395,305 (1) Amortization of right-of-use assets is included within 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, except years and percent): Nine Months Ended September 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 82,864 $ 82,841 Operating cash flows from operating leases 150,779 144,954 Financing cash flows from finance leases 98,091 97,808 Right-of-use assets obtained in exchange for lease obligations: (1) Finance leases $ 193,667 $ 78,432 Operating leases 254,822 318,882 September 30, 2023 December 31, 2022 Weighted-average remaining lease term - finance leases (2) 14 years 15 years Weighted-average remaining lease term - operating leases (2) 13 years 12 years Weighted-average discount rate - finance leases 6 % 6 % Weighted-average discount rate - operating leases 5 % 4 % Finance lease right-of-use assets (3) $ 1,991,556 $ 2,018,070 (1) Represents all non-cash changes in right-of-use assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) As of September 30, 2023 and December 31, 2022, we recorded accumulated amortization of finance lease right-of-use assets of $856.5 million and $840.0 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 September 30, 2023 are as follows (in thousands): Operating Leases Finance Leases Total 2023 (3 months remaining) $ 39,947 $ 56,103 $ 96,050 2024 212,645 253,239 465,884 2025 202,434 273,817 476,251 2026 195,717 242,464 438,181 2027 179,302 247,062 426,364 Thereafter 1,300,666 2,327,007 3,627,673 Total lease payments 2,130,711 3,399,692 5,530,403 Less imputed interest (595,223) (1,144,950) (1,740,173) Total $ 1,535,488 $ 2,254,742 $ 3,790,230 We entered into agreements with various landlords primarily to lease data center spaces and ground leases which have not yet commenced as of September 30, 2023. These leases will commence between year 2023 and 2026, with lease terms of 5 to 20 years and total lease commitments of approximately $509.4 million.
Leases	Leases Significant Lease Transactions The following table summarizes the significant lease transactions during the nine months ended September 30, 2023 (in thousands): Renewal/Termination Options excluded (1) Net Incremental (2) Lease Quarter Transaction Lease Classification ROU assets ROU liabilities Chicago 1/2/4 ("CH1/2/4") data center lease expansion Q2 Expanded CH1 to additional space within the building (3) One 10-year renewal option Operating Lease $ 150,990 $ 176,316 Finance Lease 78,073 52,747 (1) These renewal/termination options are not included in determining the lease terms as we are not reasonably certain to exercise them at this time. Certain complementary leases contain one additional 10-year renewal option. (2) The net incremental amounts represent the adjustments to the right of use ("ROU") assets and liabilities recorded during the quarter that the transactions were entered. (3) The incremental balance includes the impact of reassessing lease terms of complementary leases of CH1, resulting in new lease end dates ranging from June 2037 to October 2040 from including renewal options that are reasonably certain to be exercised and in certain complementary leases changing classification. Lease Expenses The components of lease expenses are as follows (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Finance lease cost Amortization of right-of-use assets (1) $ 46,428 $ 39,456 $ 131,481 $ 120,684 Interest on lease liabilities 28,422 27,742 85,100 84,986 Total finance lease cost 74,850 67,198 216,581 205,670 Operating lease cost 57,803 55,031 168,896 159,632 Variable lease cost 17,273 12,721 46,847 30,003 Total lease cost $ 149,926 $ 134,950 $ 432,324 $ 395,305 (1) Amortization of right-of-use assets is included within 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, except years and percent): Nine Months Ended September 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 82,864 $ 82,841 Operating cash flows from operating leases 150,779 144,954 Financing cash flows from finance leases 98,091 97,808 Right-of-use assets obtained in exchange for lease obligations: (1) Finance leases $ 193,667 $ 78,432 Operating leases 254,822 318,882 September 30, 2023 December 31, 2022 Weighted-average remaining lease term - finance leases (2) 14 years 15 years Weighted-average remaining lease term - operating leases (2) 13 years 12 years Weighted-average discount rate - finance leases 6 % 6 % Weighted-average discount rate - operating leases 5 % 4 % Finance lease right-of-use assets (3) $ 1,991,556 $ 2,018,070 (1) Represents all non-cash changes in right-of-use assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) As of September 30, 2023 and December 31, 2022, we recorded accumulated amortization of finance lease right-of-use assets of $856.5 million and $840.0 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 September 30, 2023 are as follows (in thousands): Operating Leases Finance Leases Total 2023 (3 months remaining) $ 39,947 $ 56,103 $ 96,050 2024 212,645 253,239 465,884 2025 202,434 273,817 476,251 2026 195,717 242,464 438,181 2027 179,302 247,062 426,364 Thereafter 1,300,666 2,327,007 3,627,673 Total lease payments 2,130,711 3,399,692 5,530,403 Less imputed interest (595,223) (1,144,950) (1,740,173) Total $ 1,535,488 $ 2,254,742 $ 3,790,230 We entered into agreements with various landlords primarily to lease data center spaces and ground leases which have not yet commenced as of September 30, 2023. These leases will commence between year 2023 and 2026, with lease terms of 5 to 20 years and total lease commitments of approximately $509.4 million.

Debt Facilities

Debt Facilities	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt Facilities	Debt Facilities Mortgage and Loans Payable As of September 30, 2023 and December 31, 2022, our mortgage and loans payable consisted of the following (in thousands): September 30, December 31, 2022 Term loans $ 616,833 $ 619,090 Mortgage payable and loans payable 29,780 34,527 646,613 653,617 Less amount representing unamortized debt discount and debt issuance cost (777) (1,062) 645,836 652,555 Less current portion (8,211) (9,847) $ 637,625 $ 642,708 Senior Credit Facility and Refinancing 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 September 30, 2023 and December 31, 2022, the total amounts outstanding under the 2022 Term Loan Facility, net of debt issuance costs, were $608.8 million and $603.0 million, respectively. As of September 30, 2023, we had 51 irrevocable letters of credit totaling $79.4 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 September 30, 2023 and December 31, 2022, our senior notes consisted of the following (in thousands): September 30, 2023 December 31, 2022 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 528,300 0.45 % 534,950 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 % 2.875% Swiss Franc Senior Notes due 2028 327,546 3.07 % — — % 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 % 3.900% Senior Notes due 2032 1,200,000 4.07 % 1,200,000 4.07 % 1.000% Euro Senior Notes due 2033 633,960 1.18 % 641,940 1.18 % 2.000% Japanese Yen Senior Notes Series A due 2035 251,872 2.07 % — — % 2.130% Japanese Yen Senior Notes Series C due 2035 99,009 2.20 % — — % 2.370% Japanese Yen Senior Notes Series B due 2043 68,436 2.42 % — — % 2.570% Japanese Yen Senior Notes Series D due 2043 30,773 2.62 % — — % 2.570% Japanese Yen Senior Notes Series E due 2043 66,899 2.62 % — — % 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 % 13,056,795 12,226,890 Less amount representing unamortized debt issuance cost (111,573) (117,351) $ 12,945,222 $ 12,109,539 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 on October 15, 2022. Debt issuance costs and debt discounts related to the 2032 Notes were $16.3 million. 2.000% Japanese Yen Senior Notes Series A due 2035, 2.370% Japanese Yen Senior Notes Series B due 2043, 2.130% Japanese Yen Senior Notes Series C due 2035, 2.570% Japanese Yen Senior Notes Series D due 2043 and 2.570% Japanese Yen Senior Notes Series E due 2043 On February 16, 2023, we issued ¥10.0 billion, or approximately $74.5 million in U.S. dollars, at the exchange rate in effect on that date, aggregate principal amount of 2.570% senior notes due March 8, 2043 (the "2043 Japanese Yen Series E Notes"). On March 8, 2023, and at the exchange rate in effect on that date, we issued ¥37.7 billion, or approximately $274.7 million in U.S. dollars, aggregate principal amount of 2.000% senior notes due March 8, 2035 (the "2035 Japanese Yen Series A Notes"), ¥10.2 billion, or approximately $74.6 million in U.S. dollars, aggregate principal amount of 2.370% senior notes due March 8, 2043 (the "2043 Japanese Yen Series B Notes"), ¥14.8 billion, or approximately $107.9 million in U.S. dollars, aggregate principal amount of 2.130% senior notes due March 8, 2035 (the "2035 Japanese Yen Series C Notes") and ¥4.6 billion, or approximately $33.5 million in U.S. dollars, aggregate principal amount of 2.570% senior notes due March 8, 2043 (the "2043 Japanese Yen Series D Notes"). Interest on the notes is payable semi-annually in arrears on March 8 and September 8 of each year, commencing on September 8, 2023. Total debt issuance costs related to the 2035 Japanese Yen Series A Notes, the 2043 Japanese Yen Series B Notes, the 2035 Japanese Yen Series C Notes, the 2043 Japanese Yen Series D Notes and the 2043 Japanese Yen Series E Notes were $2.0 million, $0.6 million, $0.8 million, $0.3 million and $0.6 million, respectively. 2.875% Swiss Franc Senior Notes due 2028 On September 12, 2023, we issued CHF300.0 million, or approximately $336.9 million in U.S. dollars, at the exchange rate in effect on that date, aggregate principal amount of 2.875% senior notes due September 12, 2028 (the "2028 CHF Notes"). Interest on the notes is payable annually in arrears on September 12 of each year, commencing on September 12, 2024. Total debt issuance costs related to the 2028 CHF Notes were $3.0 million. 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 and debt discounts, as of September 30, 2023 (in thousands): Years ending: 2023 (3 months remaining) $ 2,129 2024 1,007,758 2025 1,206,548 2026 1,306,348 2027 1,642,825 Thereafter 8,537,800 Total $ 13,703,408 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 (in thousands): September 30, 2023 December 31, 2022 Fair Value Fair Value Fair Value Fair Value Level 1 Level 2 Level 1 Level 2 Mortgage and loans payable $ 657,705 $ — $ 657,705 $ 666,387 $ — $ 666,387 Senior notes 10,917,739 10,398,907 518,832 10,196,933 10,196,933 — The inputs used to estimate the fair value of debt instruments include: • Level 1: quoted market prices; and • Level 2: our credit rating and current prices of similar debt instruments that are publicly traded. Interest Charges The following table sets forth total interest costs incurred, and total interest costs capitalized for the periods presented (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Interest expense $ 101,385 $ 91,346 $ 298,839 $ 262,137 Interest capitalized 6,699 5,512 18,635 14,267 Interest charges incurred $ 108,084 $ 96,858 $ 317,474 $ 276,404 Total interest paid in cash, net of capitalized interest, during the three months ended September 30, 2023 and 2022 was $90.5 million and $85.9 million, respectively. Total interest paid in cash, net of capitalized interest, during the nine months ended September 30, 2023 and 2022 was $316.6 million and $287.4 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023, we were contractually committed for approximately $2.1 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 September 30, 2023, such as commitments to purchase power in select locations through the remainder of 2023 and thereafter, and other open purchase orders for goods or services to be delivered or provided during the remainder of 2023 and thereafter. Such other miscellaneous purchase commitments totaled approximately $1.8 billion as of September 30, 2023. 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 several indirect tax audits and appealing a tentative assessment in Brazil. The final settlement of the audits 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 our financial position, results of operations, or cash flows. Employment Agreements We have entered into a severance agreement with certain of our executive officers that provides for a severance payment equal to 100% of the executive officer's annual base salary and maximum bonus in the event his or her employment is terminated for any reason other than cause or he or she voluntarily resigns under certain circumstances as described in the agreement, or 200% of the executive officer's annual base salary and maximum bonus in the event this occurs after a change-in-control of our company. For certain other executive officers, these benefits are only triggered after a change-in-control of our company, in which case the officer is entitled to 200% of the executive officer's annual base salary and maximum bonus. In addition, under these agreements, the executive officer is entitled to the payment of his or her monthly health care premiums under the Consolidated Omnibus Budget Reconciliation Act for up to 24 months. 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, in the event of a legal action, we have purchased insurance that could limit our exposure, depending upon the details of the claim and the coverage provided. As a result, our estimated fair value of these indemnification agreements is minimal. We have no liabilities recorded for these agreements as of September 30, 2023. We enter into standard indemnification agreements in the ordinary course of business. Pursuant to these agreements, we may agree to indemnify, hold harmless, and reimburse the indemnified party for losses suffered or incurred by the indemnified party, generally a business partner or a customer, in connection with matters such as any U.S. patent, or any copyright or other intellectual property infringement claim by any third party with respect to our offerings; a breach of confidentiality obligations and certain other contractual warranties; our gross negligence, willful misconduct, fraud, misrepresentation, or violation of law; and/or if we cause tangible property damage, personal injury or death. The term of any such indemnification agreement is generally perpetual 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. In addition, in the event of a legal action, we have purchased insurance that could limit our exposure, depending upon the details of the claim and the coverage provided. As a result, our estimated fair value of these agreements is minimal. We do not have significant liabilities recorded for these agreements as of September 30, 2023. We enter into arrangements with certain 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 certain acts, such as personal property damage, by our subcontractors. 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. In addition, in the event of a legal action, we have purchased insurance that could limit our exposure, depending upon the details of the claim and the coverage provided. As a result, our estimated fair value of these agreements is minimal. We do not have significant liabilities recorded for these agreements as of September 30, 2023. 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 obligations to these customers. While we have purchased insurance that could limit our exposure, our liability insurance may not be adequate to cover those expenses. In addition, any loss of service, equipment damage or inability to meet our service level commitment obligations could reduce the confidence our customers have in us, 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 September 30, 2023.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Stockholders' Equity Rollforward The following tables provide a rollforward of our stockholders' equity for the three months ended September 30, 2023 and 2022 (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, 2022 92,813,976 $ 93 (193,273) $ (71,966) $ 17,320,017 $ (7,317,570) $ (1,389,446) $ 2,964,838 $ 11,505,966 $ (134) $ 11,505,832 Net income (loss) — — — — — — — 258,786 258,786 (56) 258,730 Other comprehensive income — — — — — — 104,258 — 104,258 — 104,258 Issuance of common stock and release of treasury stock for employee equity awards 419,490 — 16,066 5,978 38,565 — — — 44,543 1 44,544 Issuance of common stock under ATM Program 458,459 1 — — 300,774 — — — 300,775 — 300,775 Dividend distribution on common stock,$3.41 per share — — — — — (318,736) — — (318,736) — (318,736) Settlement of accrued dividends on vested equity awards — — — — — (483) — — (483) — (483) Accrued dividends on unvested equity awards — — — — — (2,406) — — (2,406) — (2,406) Stock-based compensation, net of estimated forfeitures — — — — 136,345 — — — 136,345 — 136,345 Balance as of March 31, 2023 93,691,925 94 (177,207) (65,988) 17,795,701 (7,639,195) (1,285,188) 3,223,624 12,029,048 (189) 12,028,859 Net income (loss) — — — — — — 207,030 207,030 (17) 207,013 Other comprehensive income (loss) — — — — — — (3,268) — (3,268) 97 (3,171) Issuance of common stock and release of treasury stock for employee equity awards 44,734 — 5,417 2,015 527 — — — 2,542 — 2,542 Dividend distribution on common stock, $3.41 per share — — — — — (318,914) — — (318,914) — (318,914) Settlement of accrued dividends on vested equity awards — — — — — (86) — — (86) — (86) Accrued dividends on unvested equity awards — — — — — (5,058) — — (5,058) — (5,058) Stock-based compensation, net of estimated forfeitures — — — — 112,815 — — — 112,815 — 112,815 Balance as of June 30, 2023 93,736,659 94 (171,790) (63,973) 17,909,043 (7,963,253) (1,288,456) 3,430,654 12,024,109 (109) 12,024,000 Net income (loss) — — — — — — — 275,794 275,794 (34) 275,760 Other comprehensive loss — — — — — — (237,554) — (237,554) (182) (237,736) Issuance of common stock and release of treasury stock for employee equity awards 300,223 — 18,204 6,774 35,645 — — — 42,419 — 42,419 AOCI (Loss) Retained Equinix Non-controlling Interests Total Stockholders' Equity Common Stock Treasury Stock Additional Accumulated Shares Amount Shares Amount Dividend distribution on common stock, $3.41 per share — — — — — (319,308) — — (319,308) — (319,308) Settlement of accrued dividends on vested equity awards — — — — — (343) — — (343) — (343) Accrued dividends on unvested equity awards — — — — — (4,695) — — (4,695) — (4,695) Stock-based compensation, net of estimated forfeitures — — — — 106,462 — — — 106,462 — 106,462 Balance as of September 30, 2023 94,036,882 $ 94 (153,586) $ (57,199) $ 18,051,150 $ (8,287,599) $ (1,526,010) $ 3,706,448 $ 11,886,884 $ (325) $ 11,886,559 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, 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 income — — — — — — 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 Net income (loss) — — — — — — — 216,322 216,322 (80) 216,242 Other comprehensive loss — — — — — — (365,842) — (365,842) (35) (365,877) Issuance of common stock and release of treasury stock for employee equity awards 36,682 — 24,609 9,157 4,882 — — — 14,039 — 14,039 Dividend distribution on common stock, $3.10 per share — — — — — (282,168) — — (282,168) — (282,168) Settlement of accrued dividends on vested equity awards — — — — — (57) — — (57) — (57) Accrued dividends on unvested equity awards — — — — — (4,400) — — (4,400) — (4,400) Stock-based compensation, net of estimated forfeitures — — — — 109,005 — — — 109,005 — 109,005 Balance as of June 30, 2022 91,340,481 91 (265,366) (98,792) 16,259,311 (6,736,338) (1,418,756) 2,624,268 10,629,784 (190) 10,629,594 Net income (loss) — — — — — — — 211,807 211,807 (68) 211,739 Other comprehensive loss — — — — — — (337,161) — (337,161) (28) (337,189) Issuance of common stock and release of treasury stock for employee equity awards 285,176 1 15,982 5,947 31,719 — — — 37,667 — 37,667 Issuance of common stock under ATM Program 1,160,706 1 — — 796,018 — — — 796,019 — 796,019 Dividend distribution on common stock, $3.10 per share — — — — — (286,136) — — (286,136) — (286,136) Settlement of accrued dividends on vested equity awards — — — — — (327) — — (327) — (327) Accrued dividends on unvested equity awards — — — — — (4,031) — — (4,031) — (4,031) Additional Accumulated AOCI (Loss) Retained Equinix Non-controlling interests Total Stockholders' Equity Common Stock Treasury Stock Shares Amount Shares Amount Stock-based compensation, net of estimated forfeitures — — — — 106,757 — — — 106,757 — 106,757 Balance as of Balance as of September 30, 2022 92,786,363 $ 93 (249,384) $ (92,845) $ 17,193,805 $ (7,026,832) $ (1,755,917) $ 2,836,075 $ 11,154,379 $ (286) $ 11,154,093 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 September 30, Foreign currency translation adjustment (“CTA”) loss $ (1,838,237) $ (229,688) $ (2,067,925) Unrealized gain on cash flow hedges (1) 33,953 8,012 41,965 Net investment hedge CTA gain (1) 415,749 85,462 501,211 Net actuarial loss on defined benefit plans (2) (911) (350) (1,261) $ (1,389,446) $ (136,564) $ (1,526,010) (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 plans are mandated by law. We do not have any defined benefit plans in any other countries. 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 its 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 September 30, 2023, 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, 2022. 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 nine months ended September 30, 2023 as reflected in the above table. 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 "at the market" equity offering program (the "2020 ATM Program"), under which we could, from time to time, offer and sell shares of our common stock to or through sales agents up to an aggregate of $1.5 billion. In February 2022, we entered into a forward sale amendment to the 2020 ATM Program, under which we could, from time to time, offer and sell shares under the equity distribution agreement pursuant to forward sale transactions (the "Equity Forward Amendment"). In November 2022, we established a successor ATM program, also with substantially the same terms as the Equity Forward Amendment noted above, under which we may, from time to time, offer and sell on a spot or forward basis up to an aggregate of $1.5 billion of our common stock to or through sales agents in "at the market" transactions (the "2022 ATM Program"). The forward sale agreements provide three settlement alternatives to us: 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. During the nine months ended September 30, 2022, we executed five forward sale agreements under the 2020 ATM Program to sell 579,873 shares of our common stock. On August 3, 2022, we physically settled these forward sale shares for approximately $393.6 million, net of payment of commissions to sales agents and other offering expenses, at an aggregate weighted-average forward sale price of $678.72 per share. During the nine months ended September 30, 2022, we sold an additional 580,833 shares under the 2020 ATM Program, excluding the settled forward sale transactions noted above, through spot sales for approximately $403.6 million, net of payment of commissions to sales agents and other offering expenses. In the fourth quarter of 2022, we executed three additional forward sale agreements to sell 458,459 shares of our common stock with maturity dates ranging from February 2023 to November 2023. Of this amount, 308,875 shares were executed under the 2020 ATM Program and the remaining 149,584 shares were executed under the 2022 ATM Program. As of December 31, 2022, no shares remained available for sale under the 2020 ATM Program. On February 28, 2023, we physically settled these forward sale shares for approximately $301.6 million, net of payment of commissions to sales agents and other offering expenses, at an aggregate weighted-average forward sale price of $657.75 per share. During the nine months ended September 30, 2023, we executed five forward sale agreements to sell 564,126 shares of our common stock with maturity dates ranging from February 2024 to March 2024. As of September 30, 2023, the estimated net settlement value for the forward sale agreements was approximately $431.4 million at an aggregate weighted-average forward sale price of $764.78 per share. The weighted-average forward sale price that we expect to receive upon physical settlement will be subject to adjustments for a discount rate factor equal to a specified benchmark rate less a spread minus scheduled dividends during the terms of the agreements. As of September 30, 2023, we had approximately $1.0 billion of common stock available for sale under the 2022 ATM Program, which amount gives effect to the unsettled forward sale transactions noted above. For the three and nine months ended September 30, 2023, other than as noted above, we sold no additional shares under the 2022 ATM Program. Stock-Based Compensation For the nine months ended September 30, 2023, the Talent, Culture and Compensation Committee and/or the Stock Award Committee of our Board of Directors, as the case may be, granted an aggregate of 943,224 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 $694.34 per share and a weighted-average requisite service period of 3.52 years. The valuation of RSUs with only a service condition or a service and performance condition require no significant assumptions as the fair value for these types of equity awards is based solely on the fair value of our stock price on the date of grant. We use revenues, 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 nine months ended September 30, 2023. 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 nine months ended September 30, 2023. 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 2023 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 Nine Months Ended 2023 2022 2023 2022 Cost of revenues $ 12,389 $ 10,732 $ 36,111 $ 33,053 Sales and marketing 22,638 22,507 64,697 65,862 General and administrative 63,419 68,591 200,899 197,549 Total $ 98,446 $ 101,830 $ 301,707 $ 296,464 Redeemable Non-controlling Interest On April 3, 2023, we issued additional shares in our Indonesian operating entity to a third party investor for $25.0 million, which resulted in the third party investor owning a 25% interest in the entity. The Indonesian operating entity is a VIE because it does not have sufficient funds from its operations to be self-sustaining. We provide certain management services to the entity and earn fees for the performance of such services. We have the power to direct the activities that most significantly impact the economic performance of the entity and have concluded that we are its primary beneficiary. Under the terms of the shareholders’ agreement, the investor may put its 25% ownership stake in the entity to us for a maximum exercise price of $25.0 million, subject to certain contingent conditions. Accordingly, we present the investor’s contingently redeemable non-controlling interest ("NCI") outside of permanent equity at the higher of its maximum redemption amount of $25.0 million and its balance after attribution of gains and losses in the condensed consolidated balance sheets. There were no changes in the carrying value of the redeemable NCI for the three and nine months ended September 30, 2023. As of September 30, 2023, the carrying value of the assets and liabilities of the Indonesian VIE, which were included in other assets and other liabilities on the condensed consolidated balance sheets were $29.4 million and $2.1 million, respectively.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023 Nine Months Ended September 30, 2023 Americas EMEA Asia-Pacific Total Americas EMEA Asia-Pacific Total Colocation (1) $ 596,871 $ 538,256 $ 329,054 $ 1,464,181 $ 1,754,537 $ 1,571,233 $ 970,875 $ 4,296,645 Interconnection 206,552 78,795 67,411 352,758 609,457 227,718 199,428 1,036,603 Managed infrastructure 63,356 32,790 17,484 113,630 184,755 97,105 54,642 336,502 Other (1) 5,503 23,283 1,688 30,474 15,461 74,775 8,707 98,943 Recurring revenues 872,282 673,124 415,637 1,961,043 2,564,210 1,970,831 1,233,652 5,768,693 Non-recurring revenues 41,411 35,590 22,986 99,987 121,571 115,857 71,526 308,954 Total $ 913,693 $ 708,714 $ 438,623 $ 2,061,030 $ 2,685,781 $ 2,086,688 $ 1,305,178 $ 6,077,647 (1) Includes some leasing and hedging activities. Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 Americas EMEA Asia-Pacific Total Americas EMEA Asia-Pacific Total Colocation (1) $ 555,352 $ 445,733 $ 295,008 $ 1,296,093 $ 1,619,511 $ 1,293,641 $ 859,258 $ 3,772,410 Interconnection 190,283 66,703 61,264 318,250 558,877 201,688 182,092 942,657 Managed infrastructure 54,704 28,493 19,269 102,466 159,255 89,930 59,827 309,012 Other (1) 5,127 23,105 3,091 31,323 15,842 51,567 6,419 73,828 Recurring revenues 805,466 564,034 378,632 1,748,132 2,353,485 1,636,826 1,107,596 5,097,907 Non-recurring revenues 40,695 27,778 24,054 92,527 123,961 104,667 65,725 294,353 Total $ 846,161 $ 591,812 $ 402,686 $ 1,840,659 $ 2,477,446 $ 1,741,493 $ 1,173,321 $ 5,392,260 (1) Includes some leasing and hedging activities. Total revenues attributed to the U.S. were $771.5 million and $2.3 billion during the three and nine months ended September 30, 2023, respectively, and $722.6 million and $2.1 billion during the three and nine months ended September 30, 2022, respectively. For the three and nine months ended September 30, 2023, we derived revenues of $218.3 million and $607.6 million, respectively, from the United Kingdom, which is the only country outside of the U.S. from which we derived revenues that exceeded 10% of our total revenues during either of these periods. There was no country outside of the U.S. from which we derived revenues that exceeded 10% of revenues for the three and nine months ended September 30, 2022. No single customer accounted for 10% or greater of our accounts receivable or revenues for the three and nine months ended September 30, 2023 and 2022. We define adjusted EBITDA as net income excluding income tax expense, interest income, interest expense, other income or expense, gain or loss on debt extinguishment, 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 Nine Months Ended 2023 2022 2023 2022 Adjusted EBITDA: Americas $ 404,897 $ 395,159 $ 1,202,732 $ 1,127,938 EMEA 310,172 283,286 931,499 839,013 Asia-Pacific 220,862 192,471 647,153 564,009 Total adjusted EBITDA 935,931 870,916 2,781,384 2,530,960 Depreciation, amortization and accretion expense (461,842) (431,668) (1,381,298) (1,300,882) Stock-based compensation expense (98,446) (101,830) (301,707) (296,464) Transaction costs 775 (2,007) (6,543) (11,310) Gain (loss) on asset sales 3,933 (2,252) 5,022 (3,976) Interest income 23,111 11,192 66,002 17,806 Interest expense (101,385) (91,346) (298,839) (262,137) Other expense (5,972) (6,735) (9,987) (22,522) Gain (loss) on debt extinguishment (360) 75 (106) 184 Income before income taxes $ 295,745 $ 246,345 $ 853,928 $ 651,659 We also provide the following additional segment disclosures (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Depreciation and amortization: Americas $ 251,963 $ 234,300 $ 749,459 $ 693,232 EMEA 126,665 111,879 373,679 342,552 Asia-Pacific 84,311 84,013 258,537 263,018 Total $ 462,939 $ 430,192 $ 1,381,675 $ 1,298,802 Capital expenditures: Americas $ 382,800 $ 278,487 $ 1,076,339 $ 688,635 EMEA 146,776 168,481 449,008 528,808 Asia-Pacific 87,963 105,761 259,951 232,634 Total $ 617,539 $ 552,729 $ 1,785,298 $ 1,450,077 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): September 30, December 31, Americas $ 8,284,052 $ 7,532,125 EMEA 5,712,711 5,577,498 Asia-Pacific 3,373,814 3,539,911 Total property, plant and equipment, net $ 17,370,577 $ 16,649,534 Americas $ 422,468 $ 263,148 EMEA 437,873 440,139 Asia-Pacific 655,670 724,663 Total operating lease right-of-use assets $ 1,516,011 $ 1,427,950

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Declaration of dividends On October 25, 2023, we declared a quarterly cash dividend of $4.26 per share, which is payable on December 13, 2023 to our common stockholders of record as of the close of business on November 15, 2023.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 275,794	$ 211,807	$ 741,610	$ 575,582

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2023 shares	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		During the three months ended September 30, 2023, each of the following directors and/or officers adopted or terminated a “Rule 10b5-1 trading arrangement”, as such term is defined in Item 408(a) of Regulation S-K. All trading plans that were adopted during the period were entered into during an open insider trading window and are intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended, and our policies regarding transactions in our securities. No director or officer adopted or terminated a "non-Rule 10b5-1 trading arrangement," as such term is defined in Item 408(a) of Regulation S-K. Name and Title Date Action Expiration Date Total Shares to be Sold Scott Crenshaw, Executive Vice President and General Manager, Digital Services August 31, 2023 Adoption September 5, 2024 See footnote (1) Jonathan Lin, Executive Vice President and General Manager, Data Center Services August 25, 2023 Adoption April 30, 2024 See footnote (2) Simon Miller, Chief Accounting Officer September 6, 2023 Adoption April 30, 2024 See footnote (3) Christopher Paisley, Director August 18, 2023 Adoption August 18, 2024 600 (1) Mr. Crenshaw’s plan includes, subject to the achievement of performance conditions, the potential sale of shares for tax withholding and/or diversification purposes relating to awards totaling up to 7,299 shares on a grant-by-grant basis. The plan also includes any shares to be granted under the 2023 Annual Incentive Plan, as determined based on final company performance, to be sold for tax withholding and/or diversification purposes. (2) Mr. Lin’s plan includes, subject to the achievement of performance conditions, the potential sale of shares for tax withholding and/or diversification purposes relating to awards totaling up to 4,450 shares on a grant-by-grant basis. The plan also includes any shares to be granted under the 2023 Annual Incentive Plan, as determined based on final company performance, to be sold for tax withholding and/or diversification purposes. (3) Mr. Miller’s plan includes any shares to be granted under the 2023 Annual Incentive Plan, as determined based on final company performance, to be sold for tax withholding and/or diversification purposes.
Officer Trading Arrangement [Member] | Scott Crenshaw [Member]
Trading Arrangements, by Individual
Name	Scott Crenshaw
Title	Executive Vice President and General Manager, Digital Services
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 31, 2023
Termination Date	September 5, 2024
Arrangement Duration	104 days
Officer Trading Arrangement [Member] | Jonathan Lin [Member]
Trading Arrangements, by Individual
Name	Jonathan Lin
Title	Executive Vice President and General Manager, Data Center Services
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 25, 2023
Termination Date	April 30, 2024
Arrangement Duration	238 days
Officer Trading Arrangement [Member] | Simon Miller [Member]
Trading Arrangements, by Individual
Name	Simon Miller
Title	Chief Accounting Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 6, 2023
Termination Date	April 30, 2024
Arrangement Duration	50 days
Officer Trading Arrangement [Member] | Mr. Crenshaw’s [Member]
Trading Arrangements, by Individual
Aggregate Available	7,299	7,299
Officer Trading Arrangement [Member] | Mr. Lin’s [Member]
Trading Arrangements, by Individual
Aggregate Available	4,450	4,450
Director Trading Arrangement [Member] | Christopher B. Paisley [Member]
Trading Arrangements, by Individual
Name	Christopher Paisley
Title	Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 18, 2023
Termination Date	August 18, 2024
Arrangement Duration	104 days
Aggregate Available	600	600

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
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. Our condensed consolidated balance sheet data as of December 31, 2022 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" or "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 17, 2023. Results for the interim periods are not necessarily indicative of results for the entire fiscal year.
Consolidation	Consolidation The accompanying unaudited condensed consolidated financial statements include the acquisitions of: • Four data centers as well as a subsea cable and terrestrial fiber network in West Africa acquired from MainOne Cable Company ("MainOne") starting from April 1, 2022; and • Four data centers in Chile and a data center in Peru acquired from Empresa Nacional De Telecomunicaciones S.A. ("Entel") starting from May 2, 2022 and August 1, 2022, respectively. 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 Adopted Supplier Finance Programs In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2022-04, "Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations". This guidance requires annual and interim disclosures for entities that use supplier finance programs in connection with the purchase of goods and services. The ASU is effective for fiscal years beginning after December 15, 2022, with early adoption permitted, except for the amendment on roll forward information, which is effective for fiscal years beginning after December 15, 2023. On January 1, 2023, we adopted this ASU and the adoption of this standard did not have an impact on our condensed consolidated financial statements. Reference Rate Reform In March 2020, FASB issued ASU 2020-04, Reference Rate Reform ("Topic 848"): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. In addition, FASB issued ASU 2021-01, Reference Rate Reform ("Topic 848"), which clarifies the scope of Topic 848. Collectively, the guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. ASU 2021-01 is effective upon issuance and ASU 2020-04 was effective for all entities as of March 12, 2020, and together remained effective through December 31, 2022. In December 2022, FASB issued ASU 2022-06, Reference Rate Reform ("Topic 848"): Deferral of the Sunset Date of Topic 848. Because the current relief in Topic 848 may not cover a period of time during which a significant number of modifications may take place, the amendments in this Update defer the sunset date of Topic 848 from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. We adopted these ASUs upon their respective issuances and there was no impact on our consolidated financial statements as a result of adopting the guidance. We will evaluate our debt, derivative and lease contracts that may become eligible for modification relief and may apply the elections prospectively as needed. 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 a material impact on our condensed consolidated financial statements. Business Combinations
Remaining performance obligations	Remaining performance obligations As of September 30, 2023, approximately $9.8 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 three 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, variable price increases, and 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 September 30, 2023 and December 31, 2022, the total principal amounts of foreign currency debt obligations designated as net investment hedges was $1.5 billion. We also utilize cross-currency interest rate swaps, designated as net investment hedges, 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 September 30, 2023 and December 31, 2022, the total notional amount of cross-currency interest rate swaps designated as net investment hedges were $3.5 billion and $3.9 billion respectively, with maturity dates ranging through 2026. From time to time, we use foreign currency forward contracts, which are designated as net investment hedges, to hedge against the effect of foreign exchange rate fluctuations on our net investment in our foreign subsidiaries. As of September 30, 2023 and December 31, 2022, the total notional amount of foreign currency forward contracts designated as net investment hedges were $359.8 million and $373.4 million, respectively. Certain of our customer agreements that are priced in currencies different from the functional or local currencies of the parties involved are deemed to have foreign currency forward contracts embedded in them. 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 that are priced in currencies different from the functional or local currencies of the parties involved are deemed to have foreign currency forward contracts embedded in them. 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 .
Cross currency interest rate swaps	Cross-currency Interest Rate Swaps. During the three months ended September 30, 2023, we elected to de-designate a portion of our cross-currency interest rate swaps previously designated as net investment hedges. Gains and losses subsequent to the de-designation will be recognized in earnings to offset remeasurement gains and losses from foreign currency monetary assets and liabilities.
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)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule 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, 2023 $ 855,380 $ 27,608 $ 55,405 $ 132,090 $ 155,334 Closing balances as of September 30, 2023 1,030,694 31,366 74,786 116,937 153,129 Increase (Decrease) $ 175,314 $ 3,758 $ 19,381 $ (15,153) $ (2,205) (1) The net change in our allowance for credit losses was insignificant

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share ("EPS") for the periods presented (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Net income $ 275,760 $ 211,739 $ 741,503 $ 575,674 Net (income) loss attributable to non-controlling interests 34 68 107 (92) Net income attributable to Equinix $ 275,794 $ 211,807 $ 741,610 $ 575,582 Weighted-average shares used to calculate basic EPS 93,683 91,896 93,396 91,234 Effect of dilutive securities: Employee equity awards 485 239 392 285 Weighted-average shares used to calculate diluted EPS 94,168 92,135 93,788 91,519 EPS attributable to Equinix: Basic EPS $ 2.94 $ 2.30 $ 7.94 $ 6.31 Diluted EPS $ 2.93 $ 2.30 $ 7.91 $ 6.29

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2023
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): Entel Chile Entel Peru MainOne Cash and cash equivalents $ — $ — $ 33,026 Accounts receivable — — 9,431 Other current assets 12,424 — 21,988 Property, plant and equipment 81,132 13,423 239,583 Intangible assets 153,489 10,000 54,800 Goodwill 380,867 46,285 110,665 Deferred tax and other assets 12,090 10,801 5,879 Total assets acquired 640,002 80,509 475,372 Accounts payable and accrued liabilities (195) — (18,525) Other current liabilities (1) — — (13,061) Mortgage and loans payable — — (25,944) Deferred tax and other liabilities (1) (1,463) (167) (139,492) Net assets acquired $ 638,344 $ 80,342 $ 278,350 (1) For the MainOne Acquisition, other current liabilities includes $9.9 million of deferred revenue - current and the other liabilities includes $95.4 million of deferred revenue - non-current.
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 Entel Chile: Customer relationships (1) $ 153,489 12.0 - 15.0 14.0 8.5% - 9.5% Entel Peru: Customer relationships (1) 10,000 15.0 15.0 7.0 % MainOne: Customer relationships (1) 51,500 10.0 - 15.0 14.0 11.5 % Trade names (2) 3,300 5.0 5.0 11.5 % (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 and/or by using benchmarking. 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. (2) The fair value of the MainOne trade name was estimated using the relief from royalty method under the income approach. We applied a relief from royalty rate of 1.0%.

Equity Method Investments (Tabl

Equity Method Investments (Tables)	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023 December 31, 2022 EMEA 1 Joint Venture with GIC 20% $ 150,165 $ 148,895 VIE Joint Ventures 20% 243,540 191,680 Other Various 10,245 7,570 Total $ 403,950 $ 348,145
Schedule 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 September 30, 2023 (in thousands): VIE Joint Ventures Equity Investment $ 243,540 Outstanding Receivables 26,706 Future Equity Contribution Commitments (1) 45,211 Maximum Future Payments under Debt Guarantees (2) 144,522 Total $ 459,979 (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. A portion of the guarantees related to our AMER 1 Joint Venture (see Note 11).
Schedule 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 Nine Months Ended Related Party Nature of Transaction 2023 2022 2023 2022 EMEA 1 Joint Venture Revenues $ 8,520 $ 5,957 $ 22,512 $ 31,138 EMEA 1 Joint Venture Expenses (1) 4,406 2,010 12,650 5,422 VIE Joint Ventures (2) Revenues 13,153 9,551 52,220 29,739 (1) Balances primarily consist of rent expenses for a 15-year sub-lease agreement with the EMEA 1 Joint Venture for a London data center. (2) Expenses from transactions with VIE Joint Ventures were insignificant for the three and nine months ended September 30, 2023 and 2022. 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 September 30, 2023 December 31, 2022 EMEA 1 Joint Venture Receivables $ 32,824 $ 73,929 Contract Assets 7,170 7,261 Finance Lease Right-of-Use Assets 95,409 100,968 Operating Lease Right-of-Use Assets 1,443 — Operating Lease Right-of-Use Liabilities 1,495 — Other Liabilities and Payables (1) 40,844 20,160 Deferred Revenue 14,853 15,470 Finance Lease Right-of-Use Liabilities 106,857 108,603 VIE Joint Ventures Receivables 26,706 19,935 Contract Assets 22,679 5,281 Finance Lease Right-of-Use Assets 71,308 — Operating Lease Right-of-Use Assets 1,153 — Operating Lease Right-of-Use Liabilities 1,100 — Other Liabilities and Payables 55 — Deferred Revenue 5,038 — Finance Lease Right-of-Use Liabilities 73,750 — (1) 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)	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Net Investment Hedges	The effect of net investment hedges on accumulated other comprehensive income and the condensed consolidated statements of operations for the three and nine months ended September 30, 2023 and 2022 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Foreign currency debt $ 51,080 $ 125,840 $ 11,830 $ 283,431 Cross-currency interest rate swaps (included component) (1) 100,788 228,210 79,700 571,532 Cross-currency interest rate swaps (excluded component) (2) (11,957) (23,959) (14,775) (92,913) Foreign currency forward contracts (included component) (1) 9,822 33,257 8,701 48,900 Foreign currency forward contracts (excluded component) (3) (125) (2,998) 6 (5,289) Total $ 149,608 $ 360,350 $ 85,462 $ 805,661 Amount of gain or (loss) recognized in earnings: Location of gain or (loss) Three Months Ended Nine Months Ended 2023 2022 2023 2022 Cross-currency interest rate swaps (excluded component) (2) Interest expense $ 10,636 $ 12,739 $ 34,676 $ 37,346 Foreign currency forward contracts (excluded component) (3) Interest expense 492 (154) 1,136 (317) Total $ 11,128 $ 12,585 $ 35,812 $ 37,029 (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.
Schedule of Cash Flow Hedges	The effect of cash flow hedges on accumulated other comprehensive income and the condensed consolidated statements of operations for the three and nine months ended September 30, 2023 and 2022 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Foreign currency forward and option contracts (included component) (1) $ 36,171 $ 8,720 $ 19,351 $ 55,300 Cross-currency interest rate swaps (865) — (2,280) — Interest rate locks (288) (350) (4,681) 49,742 Total $ 35,018 $ 8,370 $ 12,390 $ 105,042 Amount of gain or (loss) reclassified from accumulated other comprehensive income to income: Three Months Ended Nine Months Ended Location of gain or (loss) 2023 2022 2023 2022 Foreign currency forward contracts Revenues $ (12,192) $ 53,874 $ (6,596) $ 89,275 Foreign currency forward contracts Costs and operating expenses 8,676 (25,869) 12,863 (42,974) Interest rate locks Interest Expense 288 350 892 (376) Total $ (3,228) $ 28,355 $ 7,159 $ 45,925 (1) Included component represents foreign exchange spot rates.
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 Nine Months Ended Location of gain or (loss) 2023 2022 2023 2022 Embedded derivatives (1) Revenues $ — $ — $ — $ (568) Economic hedge of embedded derivatives (2) Revenues — — — (983) Foreign currency forward contracts Other income (expense) 77,823 138,725 81,591 272,342 Cross-currency interest rate swaps Other income (expense) 2,651 — 2,651 — Total $ 80,474 $ 138,725 $ 84,242 $ 270,791 (1) Embedded derivatives which are considered foreign currency forward contracts were designated as net investment hedges beginning March 31, 2022. (2) As of September 30, 2023, we had no economic hedge of embedded derivatives outstanding.
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, excluding accrued interest, as of September 30, 2023 and December 31, 2022 (in thousands): September 30, 2023 December 31, 2022 Assets (1) Liabilities (2) Assets (1) Liabilities (2) Designated as hedging instruments: Cash flow hedges Foreign currency forward and option contracts $ 29,798 $ 6,333 $ 27,812 $ 21,352 Cross-currency interest rate swaps 22,144 — 19,239 — Net investment hedges Foreign currency forward contracts 15,089 1,875 25,077 4,805 Cross-currency interest rate swaps 282,483 — 274,234 — Total designated as hedging 349,514 8,208 346,362 26,157 Not designated as hedging instruments: Foreign currency forward contracts 31,441 3,380 58,230 7,531 Cross-currency interest rate swaps 68,512 8,758 — — Total not designated as hedging 99,953 12,138 58,230 7,531 Total Derivatives $ 449,467 $ 20,346 $ 404,592 $ 33,688 (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, inclusive of accrued interest, as of September 30, 2023 and December 31, 2022 (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 September 30, 2023 Derivative assets $ 475,060 $ — $ 475,060 $ (32,408) $ 442,652 Derivative liabilities 34,284 — 34,284 (32,408) 1,876 December 31, 2022 Derivative assets $ 424,516 $ — $ 424,516 $ (34,429) $ 390,087 Derivative liabilities 39,234 — 39,234 (34,429) 4,805
Schedule of Offsetting Derivative Assets and Liabilities	The following table presents information related to these offsetting arrangements, inclusive of accrued interest, as of September 30, 2023 and December 31, 2022 (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 September 30, 2023 Derivative assets $ 475,060 $ — $ 475,060 $ (32,408) $ 442,652 Derivative liabilities 34,284 — 34,284 (32,408) 1,876 December 31, 2022 Derivative assets $ 424,516 $ — $ 424,516 $ (34,429) $ 390,087 Derivative liabilities 39,234 — 39,234 (34,429) 4,805

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023 and December 31, 2022 were as follows (in thousands): September 30, 2023 December 31, 2022 Fair Value Fair Value Fair Value Fair Value Level 1 Level 2 Level 1 Level 2 Assets: Money market and deposit accounts $ 1,228,428 $ 1,228,428 $ — $ 764,628 $ 764,628 $ — Derivative instruments (1) 449,467 — 449,467 404,592 — 404,592 Total $ 1,677,895 $ 1,228,428 $ 449,467 $ 1,169,220 $ 764,628 $ 404,592 Liabilities: Derivative instruments (1) $ 20,346 $ — $ 20,346 $ 33,688 $ — $ 33,688 (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)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Schedule of Leases Entered into During the Period	The following table summarizes the significant lease transactions during the nine months ended September 30, 2023 (in thousands): Renewal/Termination Options excluded (1) Net Incremental (2) Lease Quarter Transaction Lease Classification ROU assets ROU liabilities Chicago 1/2/4 ("CH1/2/4") data center lease expansion Q2 Expanded CH1 to additional space within the building (3) One 10-year renewal option Operating Lease $ 150,990 $ 176,316 Finance Lease 78,073 52,747 (1) These renewal/termination options are not included in determining the lease terms as we are not reasonably certain to exercise them at this time. Certain complementary leases contain one additional 10-year renewal option. (2) The net incremental amounts represent the adjustments to the right of use ("ROU") assets and liabilities recorded during the quarter that the transactions were entered. (3) The incremental balance includes the impact of reassessing lease terms of complementary leases of CH1, resulting in new lease end dates ranging from June 2037 to October 2040 from including renewal options that are reasonably certain to be exercised and in certain complementary leases changing classification.
Schedule of Components of Lease Expenses	The components of lease expenses are as follows (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Finance lease cost Amortization of right-of-use assets (1) $ 46,428 $ 39,456 $ 131,481 $ 120,684 Interest on lease liabilities 28,422 27,742 85,100 84,986 Total finance lease cost 74,850 67,198 216,581 205,670 Operating lease cost 57,803 55,031 168,896 159,632 Variable lease cost 17,273 12,721 46,847 30,003 Total lease cost $ 149,926 $ 134,950 $ 432,324 $ 395,305 (1) Amortization of right-of-use assets is included within depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the condensed consolidated statements of operations.
Schedule of Other Information Related to Leases	Other information related to leases is as follows (in thousands, except years and percent): Nine Months Ended September 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 82,864 $ 82,841 Operating cash flows from operating leases 150,779 144,954 Financing cash flows from finance leases 98,091 97,808 Right-of-use assets obtained in exchange for lease obligations: (1) Finance leases $ 193,667 $ 78,432 Operating leases 254,822 318,882 September 30, 2023 December 31, 2022 Weighted-average remaining lease term - finance leases (2) 14 years 15 years Weighted-average remaining lease term - operating leases (2) 13 years 12 years Weighted-average discount rate - finance leases 6 % 6 % Weighted-average discount rate - operating leases 5 % 4 % Finance lease right-of-use assets (3) $ 1,991,556 $ 2,018,070 (1) Represents all non-cash changes in right-of-use assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) As of September 30, 2023 and December 31, 2022, we recorded accumulated amortization of finance lease right-of-use assets of $856.5 million and $840.0 million, respectively. Finance lease assets are recorded within property, plant and equipment, net on the condensed consolidated balance sheets.
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities as of September 30, 2023 are as follows (in thousands): Operating Leases Finance Leases Total 2023 (3 months remaining) $ 39,947 $ 56,103 $ 96,050 2024 212,645 253,239 465,884 2025 202,434 273,817 476,251 2026 195,717 242,464 438,181 2027 179,302 247,062 426,364 Thereafter 1,300,666 2,327,007 3,627,673 Total lease payments 2,130,711 3,399,692 5,530,403 Less imputed interest (595,223) (1,144,950) (1,740,173) Total $ 1,535,488 $ 2,254,742 $ 3,790,230
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities as of September 30, 2023 are as follows (in thousands): Operating Leases Finance Leases Total 2023 (3 months remaining) $ 39,947 $ 56,103 $ 96,050 2024 212,645 253,239 465,884 2025 202,434 273,817 476,251 2026 195,717 242,464 438,181 2027 179,302 247,062 426,364 Thereafter 1,300,666 2,327,007 3,627,673 Total lease payments 2,130,711 3,399,692 5,530,403 Less imputed interest (595,223) (1,144,950) (1,740,173) Total $ 1,535,488 $ 2,254,742 $ 3,790,230

Debt Facilities (Tables)

Debt Facilities (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Debt	As of September 30, 2023 and December 31, 2022, our mortgage and loans payable consisted of the following (in thousands): September 30, December 31, 2022 Term loans $ 616,833 $ 619,090 Mortgage payable and loans payable 29,780 34,527 646,613 653,617 Less amount representing unamortized debt discount and debt issuance cost (777) (1,062) 645,836 652,555 Less current portion (8,211) (9,847) $ 637,625 $ 642,708 As of September 30, 2023 and December 31, 2022, our senior notes consisted of the following (in thousands): September 30, 2023 December 31, 2022 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 528,300 0.45 % 534,950 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 % 2.875% Swiss Franc Senior Notes due 2028 327,546 3.07 % — — % 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 % 3.900% Senior Notes due 2032 1,200,000 4.07 % 1,200,000 4.07 % 1.000% Euro Senior Notes due 2033 633,960 1.18 % 641,940 1.18 % 2.000% Japanese Yen Senior Notes Series A due 2035 251,872 2.07 % — — % 2.130% Japanese Yen Senior Notes Series C due 2035 99,009 2.20 % — — % 2.370% Japanese Yen Senior Notes Series B due 2043 68,436 2.42 % — — % 2.570% Japanese Yen Senior Notes Series D due 2043 30,773 2.62 % — — % 2.570% Japanese Yen Senior Notes Series E due 2043 66,899 2.62 % — — % 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 % 13,056,795 12,226,890 Less amount representing unamortized debt issuance cost (111,573) (117,351) $ 12,945,222 $ 12,109,539
Schedule 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 and debt discounts, as of September 30, 2023 (in thousands): Years ending: 2023 (3 months remaining) $ 2,129 2024 1,007,758 2025 1,206,548 2026 1,306,348 2027 1,642,825 Thereafter 8,537,800 Total $ 13,703,408
Schedule of 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 (in thousands): September 30, 2023 December 31, 2022 Fair Value Fair Value Fair Value Fair Value Level 1 Level 2 Level 1 Level 2 Mortgage and loans payable $ 657,705 $ — $ 657,705 $ 666,387 $ — $ 666,387 Senior notes 10,917,739 10,398,907 518,832 10,196,933 10,196,933 —
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 Nine Months Ended 2023 2022 2023 2022 Interest expense $ 101,385 $ 91,346 $ 298,839 $ 262,137 Interest capitalized 6,699 5,512 18,635 14,267 Interest charges incurred $ 108,084 $ 96,858 $ 317,474 $ 276,404

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Schedule of Rollforward of Stockholders' Equity	The following tables provide a rollforward of our stockholders' equity for the three months ended September 30, 2023 and 2022 (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, 2022 92,813,976 $ 93 (193,273) $ (71,966) $ 17,320,017 $ (7,317,570) $ (1,389,446) $ 2,964,838 $ 11,505,966 $ (134) $ 11,505,832 Net income (loss) — — — — — — — 258,786 258,786 (56) 258,730 Other comprehensive income — — — — — — 104,258 — 104,258 — 104,258 Issuance of common stock and release of treasury stock for employee equity awards 419,490 — 16,066 5,978 38,565 — — — 44,543 1 44,544 Issuance of common stock under ATM Program 458,459 1 — — 300,774 — — — 300,775 — 300,775 Dividend distribution on common stock,$3.41 per share — — — — — (318,736) — — (318,736) — (318,736) Settlement of accrued dividends on vested equity awards — — — — — (483) — — (483) — (483) Accrued dividends on unvested equity awards — — — — — (2,406) — — (2,406) — (2,406) Stock-based compensation, net of estimated forfeitures — — — — 136,345 — — — 136,345 — 136,345 Balance as of March 31, 2023 93,691,925 94 (177,207) (65,988) 17,795,701 (7,639,195) (1,285,188) 3,223,624 12,029,048 (189) 12,028,859 Net income (loss) — — — — — — 207,030 207,030 (17) 207,013 Other comprehensive income (loss) — — — — — — (3,268) — (3,268) 97 (3,171) Issuance of common stock and release of treasury stock for employee equity awards 44,734 — 5,417 2,015 527 — — — 2,542 — 2,542 Dividend distribution on common stock, $3.41 per share — — — — — (318,914) — — (318,914) — (318,914) Settlement of accrued dividends on vested equity awards — — — — — (86) — — (86) — (86) Accrued dividends on unvested equity awards — — — — — (5,058) — — (5,058) — (5,058) Stock-based compensation, net of estimated forfeitures — — — — 112,815 — — — 112,815 — 112,815 Balance as of June 30, 2023 93,736,659 94 (171,790) (63,973) 17,909,043 (7,963,253) (1,288,456) 3,430,654 12,024,109 (109) 12,024,000 Net income (loss) — — — — — — — 275,794 275,794 (34) 275,760 Other comprehensive loss — — — — — — (237,554) — (237,554) (182) (237,736) Issuance of common stock and release of treasury stock for employee equity awards 300,223 — 18,204 6,774 35,645 — — — 42,419 — 42,419 AOCI (Loss) Retained Equinix Non-controlling Interests Total Stockholders' Equity Common Stock Treasury Stock Additional Accumulated Shares Amount Shares Amount Dividend distribution on common stock, $3.41 per share — — — — — (319,308) — — (319,308) — (319,308) Settlement of accrued dividends on vested equity awards — — — — — (343) — — (343) — (343) Accrued dividends on unvested equity awards — — — — — (4,695) — — (4,695) — (4,695) Stock-based compensation, net of estimated forfeitures — — — — 106,462 — — — 106,462 — 106,462 Balance as of September 30, 2023 94,036,882 $ 94 (153,586) $ (57,199) $ 18,051,150 $ (8,287,599) $ (1,526,010) $ 3,706,448 $ 11,886,884 $ (325) $ 11,886,559 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, 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 income — — — — — — 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 Net income (loss) — — — — — — — 216,322 216,322 (80) 216,242 Other comprehensive loss — — — — — — (365,842) — (365,842) (35) (365,877) Issuance of common stock and release of treasury stock for employee equity awards 36,682 — 24,609 9,157 4,882 — — — 14,039 — 14,039 Dividend distribution on common stock, $3.10 per share — — — — — (282,168) — — (282,168) — (282,168) Settlement of accrued dividends on vested equity awards — — — — — (57) — — (57) — (57) Accrued dividends on unvested equity awards — — — — — (4,400) — — (4,400) — (4,400) Stock-based compensation, net of estimated forfeitures — — — — 109,005 — — — 109,005 — 109,005 Balance as of June 30, 2022 91,340,481 91 (265,366) (98,792) 16,259,311 (6,736,338) (1,418,756) 2,624,268 10,629,784 (190) 10,629,594 Net income (loss) — — — — — — — 211,807 211,807 (68) 211,739 Other comprehensive loss — — — — — — (337,161) — (337,161) (28) (337,189) Issuance of common stock and release of treasury stock for employee equity awards 285,176 1 15,982 5,947 31,719 — — — 37,667 — 37,667 Issuance of common stock under ATM Program 1,160,706 1 — — 796,018 — — — 796,019 — 796,019 Dividend distribution on common stock, $3.10 per share — — — — — (286,136) — — (286,136) — (286,136) Settlement of accrued dividends on vested equity awards — — — — — (327) — — (327) — (327) Accrued dividends on unvested equity awards — — — — — (4,031) — — (4,031) — (4,031) Additional Accumulated AOCI (Loss) Retained Equinix Non-controlling interests Total Stockholders' Equity Common Stock Treasury Stock Shares Amount Shares Amount Stock-based compensation, net of estimated forfeitures — — — — 106,757 — — — 106,757 — 106,757 Balance as of Balance as of September 30, 2022 92,786,363 $ 93 (249,384) $ (92,845) $ 17,193,805 $ (7,026,832) $ (1,755,917) $ 2,836,075 $ 11,154,379 $ (286) $ 11,154,093
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 September 30, Foreign currency translation adjustment (“CTA”) loss $ (1,838,237) $ (229,688) $ (2,067,925) Unrealized gain on cash flow hedges (1) 33,953 8,012 41,965 Net investment hedge CTA gain (1) 415,749 85,462 501,211 Net actuarial loss on defined benefit plans (2) (911) (350) (1,261) $ (1,389,446) $ (136,564) $ (1,526,010) (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 plans are mandated by law. We do not have any defined benefit plans in any other countries.
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 Nine Months Ended 2023 2022 2023 2022 Cost of revenues $ 12,389 $ 10,732 $ 36,111 $ 33,053 Sales and marketing 22,638 22,507 64,697 65,862 General and administrative 63,419 68,591 200,899 197,549 Total $ 98,446 $ 101,830 $ 301,707 $ 296,464

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023 Nine Months Ended September 30, 2023 Americas EMEA Asia-Pacific Total Americas EMEA Asia-Pacific Total Colocation (1) $ 596,871 $ 538,256 $ 329,054 $ 1,464,181 $ 1,754,537 $ 1,571,233 $ 970,875 $ 4,296,645 Interconnection 206,552 78,795 67,411 352,758 609,457 227,718 199,428 1,036,603 Managed infrastructure 63,356 32,790 17,484 113,630 184,755 97,105 54,642 336,502 Other (1) 5,503 23,283 1,688 30,474 15,461 74,775 8,707 98,943 Recurring revenues 872,282 673,124 415,637 1,961,043 2,564,210 1,970,831 1,233,652 5,768,693 Non-recurring revenues 41,411 35,590 22,986 99,987 121,571 115,857 71,526 308,954 Total $ 913,693 $ 708,714 $ 438,623 $ 2,061,030 $ 2,685,781 $ 2,086,688 $ 1,305,178 $ 6,077,647 (1) Includes some leasing and hedging activities. Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 Americas EMEA Asia-Pacific Total Americas EMEA Asia-Pacific Total Colocation (1) $ 555,352 $ 445,733 $ 295,008 $ 1,296,093 $ 1,619,511 $ 1,293,641 $ 859,258 $ 3,772,410 Interconnection 190,283 66,703 61,264 318,250 558,877 201,688 182,092 942,657 Managed infrastructure 54,704 28,493 19,269 102,466 159,255 89,930 59,827 309,012 Other (1) 5,127 23,105 3,091 31,323 15,842 51,567 6,419 73,828 Recurring revenues 805,466 564,034 378,632 1,748,132 2,353,485 1,636,826 1,107,596 5,097,907 Non-recurring revenues 40,695 27,778 24,054 92,527 123,961 104,667 65,725 294,353 Total $ 846,161 $ 591,812 $ 402,686 $ 1,840,659 $ 2,477,446 $ 1,741,493 $ 1,173,321 $ 5,392,260 (1) Includes some leasing and hedging activities.
Schedule of Adjusted EBITDA	We define adjusted EBITDA as net income excluding income tax expense, interest income, interest expense, other income or expense, gain or loss on debt extinguishment, 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 Nine Months Ended 2023 2022 2023 2022 Adjusted EBITDA: Americas $ 404,897 $ 395,159 $ 1,202,732 $ 1,127,938 EMEA 310,172 283,286 931,499 839,013 Asia-Pacific 220,862 192,471 647,153 564,009 Total adjusted EBITDA 935,931 870,916 2,781,384 2,530,960 Depreciation, amortization and accretion expense (461,842) (431,668) (1,381,298) (1,300,882) Stock-based compensation expense (98,446) (101,830) (301,707) (296,464) Transaction costs 775 (2,007) (6,543) (11,310) Gain (loss) on asset sales 3,933 (2,252) 5,022 (3,976) Interest income 23,111 11,192 66,002 17,806 Interest expense (101,385) (91,346) (298,839) (262,137) Other expense (5,972) (6,735) (9,987) (22,522) Gain (loss) on debt extinguishment (360) 75 (106) 184 Income before income taxes $ 295,745 $ 246,345 $ 853,928 $ 651,659
Schedule of Segment Disclosures	We also provide the following additional segment disclosures (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Depreciation and amortization: Americas $ 251,963 $ 234,300 $ 749,459 $ 693,232 EMEA 126,665 111,879 373,679 342,552 Asia-Pacific 84,311 84,013 258,537 263,018 Total $ 462,939 $ 430,192 $ 1,381,675 $ 1,298,802 Capital expenditures: Americas $ 382,800 $ 278,487 $ 1,076,339 $ 688,635 EMEA 146,776 168,481 449,008 528,808 Asia-Pacific 87,963 105,761 259,951 232,634 Total $ 617,539 $ 552,729 $ 1,785,298 $ 1,450,077
Schedule of 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): September 30, December 31, Americas $ 8,284,052 $ 7,532,125 EMEA 5,712,711 5,577,498 Asia-Pacific 3,373,814 3,539,911 Total property, plant and equipment, net $ 17,370,577 $ 16,649,534 Americas $ 422,468 $ 263,148 EMEA 437,873 440,139 Asia-Pacific 655,670 724,663 Total operating lease right-of-use assets $ 1,516,011 $ 1,427,950

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies - Narrative (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Aug. 01, 2022 center	May 02, 2022 center	Apr. 01, 2022 center
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effective income tax rate, continuing operations	13.20%	11.70%
Settlement of tax audits | $	$ 13.4	$ 40
MainOne
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Data centers purchased					4
Network centers acquired					1
Empresa Nacional De Telecomunicaciones S.A. | CHILE
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Data centers purchased				4
Empresa Nacional De Telecomunicaciones S.A. | PERU
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Data centers purchased			1

Revenue - Opening and Closing B

Revenue - Opening and Closing Balances (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 1,030,694	$ 855,380
Increase (Decrease) in Accounts receivables, net	175,314
Contract assets, current	31,366	27,608
Increase (Decrease) in Contract asset, current	3,758
Contract assets, non-current	74,786	55,405
Increase (Decrease) in Contract asset, non-current	19,381
Deferred revenue, current	116,937	132,090
Increase (Decrease) in Deferred revenue, current	(15,153)
Deferred revenue, non-current	153,129	$ 155,334
Increase (Decrease) in Deferred revenue, non-current	$ (2,205)

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, revenue recognized	$ 80
Revenue, remaining performance obligation	$ 9,800
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]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, requirement of payment, terms	2 years
Revenue, remaining performance obligation, percentage	70%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-10-01 | Minimum
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]: 2025-10-01 | Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, requirement of payment, terms	5 years

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net income	$ 275,760	$ 207,013	$ 258,730	$ 211,739	$ 216,242	$ 147,693	$ 741,503	$ 575,674
Net (income) loss attributable to non-controlling interests	34			68			107	(92)
Net income attributable to Equinix	$ 275,794			$ 211,807			$ 741,610	$ 575,582
Weighted-average shares used to calculate basic EPS (in shares)	93,683			91,896			93,396	91,234
Effect of dilutive securities:
Employee equity awards (in shares)	485			239			392	285
Weighted-average shares used to calculate diluted EPS (in shares)	94,168			92,135			93,788	91,519
Basic EPS (in dollars per share)	$ 2.94			$ 2.30			$ 7.94	$ 6.31
Diluted EPS (in dollars per share)	$ 2.93			$ 2.30			$ 7.91	$ 6.29

Earnings Per Share - Anti-dilut

Earnings Per Share - Anti-dilutive Potential Shares of Common Stock Excluded from Computation of Earnings Per Share (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Anti-dilutive potential shares of common stock excluded from computation of earnings per share (in shares)	25	351	79	379

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Detail) $ in Millions				9 Months Ended
	Aug. 01, 2022 USD ($)	May 02, 2022 USD ($) center	Apr. 01, 2022 USD ($) center	Sep. 30, 2023 acquisition
Business Acquisition [Line Items]
Number of acquisitions | acquisition				3
Entel Chile
Business Acquisition [Line Items]
Data centers purchased | center		4
Consideration transferred		$ 638.3
Entel Peru:
Business Acquisition [Line Items]
Consideration transferred	$ 80.3
MainOne
Business Acquisition [Line Items]
Data centers purchased | center			4
Consideration transferred			$ 278.4

Acquisitions - Preliminary Purc

Acquisitions - Preliminary Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Aug. 01, 2022	May 02, 2022	Apr. 01, 2022
Allocation of purchase price consideration
Goodwill	$ 5,589,124	$ 5,654,217
Entel Chile
Allocation of purchase price consideration
Cash and cash equivalents				$ 0
Accounts receivable				0
Other current assets				12,424
Property, plant and equipment				81,132
Intangible assets				153,489
Goodwill				380,867
Deferred tax and other assets				12,090
Total assets acquired				640,002
Accounts payable and accrued liabilities				(195)
Other current liabilities				0
Mortgage and loans payable				0
Deferred tax and other liabilities				(1,463)
Net assets acquired				$ 638,344
Entel Peru
Allocation of purchase price consideration
Cash and cash equivalents			$ 0
Accounts receivable			0
Other current assets			0
Property, plant and equipment			13,423
Intangible assets			10,000
Goodwill			46,285
Deferred tax and other assets			10,801
Total assets acquired			80,509
Accounts payable and accrued liabilities			0
Other current liabilities			0
Mortgage and loans payable			0
Deferred tax and other liabilities			(167)
Net assets acquired			$ 80,342
MainOne
Allocation of purchase price consideration
Cash and cash equivalents					$ 33,026
Accounts receivable					9,431
Other current assets					21,988
Property, plant and equipment					239,583
Intangible assets					54,800
Goodwill					110,665
Deferred tax and other assets					5,879
Total assets acquired					475,372
Accounts payable and accrued liabilities					(18,525)
Other current liabilities					(13,061)
Mortgage and loans payable					(25,944)
Deferred tax and other liabilities					(139,492)
Net assets acquired					278,350
Deferred revenue, current					9,900
Deferred revenue, noncurrent					$ 95,400

Acquisitions - Intangible Asset

Acquisitions - Intangible Assets (Details) $ in Thousands	Aug. 01, 2022 USD ($)	May 02, 2022 USD ($)	Apr. 01, 2022 USD ($)
Customer Relationships | Entel Chile
Business Acquisition [Line Items]
Fair Value		$ 153,489
Weighted-average Estimated Useful Lives (Years)		14 years
Customer Relationships | Entel Chile | Minimum
Business Acquisition [Line Items]
Estimated Useful Lives (Years)		12 years
Customer Relationships | Entel Chile | Maximum
Business Acquisition [Line Items]
Estimated Useful Lives (Years)		15 years
Customer Relationships | Entel Chile | Discount Rate | Minimum
Business Acquisition [Line Items]
Discount Rate		0.085
Customer Relationships | Entel Chile | Discount Rate | Maximum
Business Acquisition [Line Items]
Discount Rate		0.095
Customer Relationships | Entel Peru:
Business Acquisition [Line Items]
Fair Value	$ 10,000
Estimated Useful Lives (Years)	15 years
Weighted-average Estimated Useful Lives (Years)	15 years
Customer Relationships | Entel Peru: | Discount Rate
Business Acquisition [Line Items]
Discount Rate	0.070
Customer Relationships | MainOne
Business Acquisition [Line Items]
Fair Value			$ 51,500
Weighted-average Estimated Useful Lives (Years)			14 years
Customer Relationships | MainOne | Minimum
Business Acquisition [Line Items]
Estimated Useful Lives (Years)			10 years
Customer Relationships | MainOne | Maximum
Business Acquisition [Line Items]
Estimated Useful Lives (Years)			15 years
Customer Relationships | MainOne | Discount Rate
Business Acquisition [Line Items]
Discount Rate			0.115
Trade Names | MainOne
Business Acquisition [Line Items]
Fair Value			$ 3,300
Estimated Useful Lives (Years)			5 years
Weighted-average Estimated Useful Lives (Years)			5 years
Trade Names | MainOne | Discount Rate
Business Acquisition [Line Items]
Discount Rate			0.115
Trade Names | MainOne | Measurement Input, Royalty Rate
Business Acquisition [Line Items]
Discount Rate			0.010

Assets Held for Sale - Narrativ

Assets Held for Sale - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended
	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Sep. 30, 2023	Mar. 10, 2023	Dec. 31, 2022
Long Lived Assets Held-for-sale [Line Items]
Equity method investments					$ 403,950		$ 348,145
EMEA 2 Joint Venture | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Warsaw 4 ("WA4") Data Center Site
Long Lived Assets Held-for-sale [Line Items]
Term of transaction (in years)				2 years
Consideration		$ 61,500
Asia-Pacific 2 Joint Venture
Long Lived Assets Held-for-sale [Line Items]
Ownership percentage			20%
Equity method investments			$ 29,800
Asia-Pacific 2 Joint Venture | 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
AMER 1 Joint Venture
Long Lived Assets Held-for-sale [Line Items]
Ownership percentage	20%					20%
Equity method investments	$ 8,400					$ 8,400
AMER 1 Joint Venture | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Mexico 3 ("MX3") Data Center Site
Long Lived Assets Held-for-sale [Line Items]
Consideration	75,100
Proceeds from sale of data centers	63,900
Receivables acquired in sale of asset	$ 2,800

Equity Method Investments - Sch

Equity Method Investments - Schedule of Equity Method Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 403,950	$ 348,145
EMEA 1 Joint Venture with GIC
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	20%
Equity method investments	$ 150,165	148,895
VIE Joint Ventures | Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	20%
Equity method investments	$ 243,540	191,680
Other
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 10,245	$ 7,570

Equity Method Investments - Nar

Equity Method Investments - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2023	Mar. 10, 2023	Dec. 31, 2022	Apr. 06, 2022
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 403,950				$ 348,145
Equity method investments from joint ventures	8,000	$ 5,500
EMEA 1 Joint Venture
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 150,165				$ 148,895
Ownership Percentage	20%
EMEA 1 Joint Venture | Equity Contribution Commitment
Schedule of Equity Method Investments [Line Items]
Equity contribution commitment	$ 6,300
Asia-Pacific 3 Joint Venture
Schedule of Equity Method Investments [Line Items]
Equity method investments						$ 17,000
Ownership Percentage						20%
AMER 1 Joint Venture
Schedule of Equity Method Investments [Line Items]
Equity method investments			$ 8,400	$ 8,400
Ownership Percentage			20%	20%

Equity Method Investments - S_2

Equity Method Investments - Schedule of Maximum Exposure Loss (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Equity Investment	$ 403,950	$ 348,145
Receivables	1,030,694	855,380
VIE Joint Ventures | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Equity Investment	243,540	$ 191,680
Receivables	26,706
Future Equity Contribution Commitments	45,211
Total	$ 459,979
Ownership percentage	20%
VIE Joint Ventures | Variable Interest Entity, Not Primary Beneficiary | EMEA 2 Joint Venture Credit Facility
Variable Interest Entity [Line Items]
Maximum Future Payments under Debt Guarantees	$ 144,522
EMEA 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Ownership percentage	20%
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	$ 144,500
Percentage guarantee on debt payments	0.20

Equity Method Investments - Sum

Equity Method Investments - Summary of Gains (Losses) of Joint Venture Arrangements (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Related Party Transaction [Line Items]
Revenues	$ 2,061,030	$ 1,840,659	$ 6,077,647	$ 5,392,260
Expenses	1,680,679	1,507,500	4,980,789	4,473,932
EMEA 1 Joint Venture | Joint Venture
Related Party Transaction [Line Items]
Revenues	8,520	5,957	22,512	31,138
Expenses	4,406	2,010	$ 12,650	5,422
EMEA 1 Joint Venture | Joint Venture | Sublease, Equinix's London 10-2 Data Center
Related Party Transaction [Line Items]
Sublease, lease term (in years)			15 years
VIE Joint Ventures | Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Related Party Transaction [Line Items]
Revenues	$ 13,153	$ 9,551	$ 52,220	$ 29,739

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	Sep. 30, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Receivables	$ 1,030,694	$ 855,380
Finance Lease Right-of-Use Assets	1,991,556	2,018,070
Operating Lease Right-of-Use Assets	1,516,011	1,427,950
Operating Lease Right-of-Use Liabilities	1,535,488
Finance Lease Right-of-Use Liabilities	2,254,742
Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Related Party Transaction [Line Items]
Receivables	26,706	19,935
Contract Assets	22,679	5,281
Finance Lease Right-of-Use Assets	71,308	0
Operating Lease Right-of-Use Assets	1,153	0
Operating Lease Right-of-Use Liabilities	1,100	0
Other Liabilities and Payables - Construction Obligation	55	0
Deferred Revenue	5,038	0
Finance Lease Right-of-Use Liabilities	73,750	0
EMEA 1 Joint Venture | Joint Venture
Related Party Transaction [Line Items]
Receivables	32,824	73,929
Contract Assets	7,170	7,261
Finance Lease Right-of-Use Assets	95,409	100,968
Operating Lease Right-of-Use Assets	1,443	0
Operating Lease Right-of-Use Liabilities	1,495	0
Other Liabilities and Payables - Construction Obligation	40,844	20,160
Deferred Revenue	14,853	15,470
Finance Lease Right-of-Use Liabilities	$ 106,857	$ 108,603

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Narrative (Details) - USD ($)	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Designated as hedging instruments: | Cross Currency Interest Rate Contract
Derivative [Line Items]
Derivative, notional amount	$ 3,500,000,000	$ 3,900,000,000
Derivative, notional amount, increase	167,700,000
Not Designated as Hedging Instruments | Cross Currency Interest Rate Contract
Derivative [Line Items]
Derivative, notional amount	544,800,000
Not Designated as Hedging Instruments | Foreign currency forward contracts
Derivative [Line Items]
Derivative, notional amount	2,200,000,000	3,000,000,000
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	359,800,000	373,400,000
Cash Flow Hedges | Foreign currency forward and option contracts
Derivative [Line Items]
Derivative, notional amount	856,200,000	490,800,000
Net (loss) gain to be reclassified within the next 12 months	17,800,000	8,200,000
Cash Flow Hedges | Interest rate locks
Derivative [Line Items]
Derivative, notional amount	0	0
Net gain to be reclassified within the next 12 months, interest rate cash flow hedge	1,200,000	1,400,000
Cash Flow Hedges | Designated as hedging instruments: | Interest rate locks
Derivative [Line Items]
Derivative, notional amount	$ 280,300,000	$ 280,300,000

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Net Investment Hedges (Details) - Net Investment Hedges - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Amount of gain or (loss) recognized in accumulated other comprehensive income:
Total	$ 149,608	$ 360,350	$ 85,462	$ 805,661
Amount of gain or (loss) recognized in earnings:
Amount of gain or (loss) excluded from effectiveness testing included in income	11,128	12,585	35,812	37,029
Foreign currency debt
Amount of gain or (loss) recognized in accumulated other comprehensive income:
Gain (loss) recognized in accumulated other comprehensive income (included component)	51,080	125,840	11,830	283,431
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)	100,788	228,210	79,700	571,532
Gain (loss) recognized in accumulated other comprehensive income (excluded component)	(11,957)	(23,959)	(14,775)	(92,913)
Amount of gain or (loss) recognized in earnings:
Amount of gain or (loss) excluded from effectiveness testing included in income	10,636	12,739	34,676	37,346
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)	9,822	33,257	8,701	48,900
Gain (loss) recognized in accumulated other comprehensive income (excluded component)	(125)	(2,998)	6	(5,289)
Amount of gain or (loss) recognized in earnings:
Amount of gain or (loss) excluded from effectiveness testing included in income	$ 492	$ (154)	$ 1,136	$ (317)

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Cash Flow Hedges (Details) - Cash Flow Hedges - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income:	$ 35,018	$ 8,370	$ 12,390	$ 105,042
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income:	(3,228)	28,355	7,159	45,925
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:	36,171	8,720	19,351	55,300
Cross-currency interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income:	(865)	0	(2,280)	0
Interest rate locks
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income:	(288)	(350)	(4,681)	49,742
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:	288	350	892	(376)
Foreign exchange forward | Revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income:	(12,192)	53,874	(6,596)	89,275
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:	$ 8,676	$ (25,869)	$ 12,863	$ (42,974)

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	$ 80,474	$ 138,725	$ 84,242	$ 270,791
Embedded derivatives | Revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	0	0	0	(568)
Economic hedge of embedded derivatives | Revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	0	0	0	(983)
Foreign currency forward contracts | Other income (expense)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	77,823	138,725	81,591	272,342
Cross-currency interest rate swaps | Other income (expense)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	$ 2,651	$ 0	$ 2,651	$ 0

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities - Fair Value of Derivative Instruments (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	$ 449,467	$ 404,592
Liabilities	20,346	33,688
Designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	349,514	346,362
Liabilities	8,208	26,157
Designated as hedging instruments: | Foreign currency forward and option contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	29,798	27,812
Liabilities	6,333	21,352
Designated as hedging instruments: | Cross-currency interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	22,144	19,239
Liabilities	0	0
Designated as hedging instruments: | Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	15,089	25,077
Liabilities	1,875	4,805
Designated as hedging instruments: | Cross-currency interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	282,483	274,234
Liabilities	0	0
Not designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	99,953	58,230
Liabilities	12,138	7,531
Not designated as hedging instruments: | Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	31,441	58,230
Liabilities	3,380	7,531
Not designated as hedging instruments: | Cross-currency interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	68,512	0
Liabilities	$ 8,758	$ 0

Derivatives and Hedging Activ_8

Derivatives and Hedging Activities - Offsetting Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Derivative assets
Gross Amounts	$ 475,060	$ 424,516
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts	475,060	424,516
Gross Amounts not Offset in the Balance Sheet	(32,408)	(34,429)
Net	442,652	390,087
Derivative liabilities
Gross Amounts	34,284	39,234
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts	34,284	39,234
Gross Amounts not Offset in the Balance Sheet	(32,408)	(34,429)
Net	$ 1,876	$ 4,805

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	Sep. 30, 2023	Dec. 31, 2022
Assets:
Derivative instruments	$ 449,467	$ 404,592
Total financial assets	1,677,895	1,169,220
Liabilities:
Derivative instruments	20,346	33,688
Money market and deposit accounts
Assets:
Cash and cash equivalents	1,228,428	764,628
Level 1
Assets:
Derivative instruments	0	0
Total financial assets	1,228,428	764,628
Liabilities:
Derivative instruments	0	0
Level 1 | Money market and deposit accounts
Assets:
Cash and cash equivalents	1,228,428	764,628
Level 2
Assets:
Derivative instruments	449,467	404,592
Total financial assets	449,467	404,592
Liabilities:
Derivative instruments	20,346	33,688
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	Sep. 30, 2023 USD ($) option	Dec. 31, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Operating lease ROU assets	$ (1,516,011)	$ (1,427,950)
Operating lease ROU liabilities	(1,535,488)
Finance lease ROU assets	1,991,556	$ 2,018,070
Finance lease ROU liabilities	$ 2,254,742
Chicago 1/2/4 ("CH1/2/4") data center lease expansion
Lessee, Lease, Description [Line Items]
Operating and finance lease, number of renewal options | option	1
Operating and finance lease renewal term (in years)	10 years
Operating lease ROU assets	$ (150,990)
Operating lease ROU liabilities	(176,316)
Finance lease ROU assets	78,073
Finance lease ROU liabilities	$ 52,747

Leases - Lease Expenses (Detail

Leases - Lease Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Finance lease cost
Amortization of right-of-use assets	$ 46,428	$ 39,456	$ 131,481	$ 120,684
Interest on lease liabilities	28,422	27,742	85,100	84,986
Total finance lease cost	74,850	67,198	216,581	205,670
Operating lease cost	57,803	55,031	168,896	159,632
Variable lease cost	17,273	12,721	46,847	30,003
Total lease cost	$ 149,926	$ 134,950	$ 432,324	$ 395,305

Leases - Other Information (Det

Leases - Other Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$ 82,864	$ 82,841
Operating cash flows from operating leases	150,779	144,954
Financing cash flows from finance leases	98,091	97,808
Right-of-use assets obtained in exchange for lease obligations:
Finance leases	193,667	78,432
Operating leases	$ 254,822	$ 318,882
Weighted-average remaining lease term - finance leases	14 years		15 years
Weighted-average remaining lease term - operating leases	13 years		12 years
Weighted-average discount rate - finance leases	6%		6%
Weighted-average discount rate - operating leases	5%		4%
Finance lease right-of-use assets	$ 1,991,556		$ 2,018,070
Accumulated amortization, finance lease, right-of-use asset	$ 856,500		$ 840,000

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Operating Leases
2023 (3 months remaining)	$ 39,947
2024	212,645
2025	202,434
2026	195,717
2027	179,302
Thereafter	1,300,666
Total lease payments	2,130,711
Less imputed interest	(595,223)
Total	1,535,488
Finance Leases
2023 (3 months remaining)	56,103
2024	253,239
2025	273,817
2026	242,464
2027	247,062
Thereafter	2,327,007
Total lease payments	3,399,692
Less imputed interest	(1,144,950)
Total	2,254,742
Total
2023 (3 months remaining)	96,050
2024	465,884
2025	476,251
2026	438,181
2027	426,364
Thereafter	3,627,673
Total lease payments	5,530,403
Less imputed interest	(1,740,173)
Total	3,790,230
Lessee, Lease, Description [Line Items]
Operating and finance leases not yet commenced, liability	$ 509,400
Minimum
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term	5 years
Maximum
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term	20 years

Debt Facilities - Mortgage and

Debt Facilities - Mortgage and Loans Payable (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Loans payable, gross	$ 646,613	$ 653,617
Less amount representing unamortized debt discount and debt issuance cost	(777)	(1,062)
Loans payable current and non current	645,836	652,555
Less current portion	(8,211)	(9,847)
Mortgage and loans payable, less current portion	637,625	642,708
Term loans
Debt Instrument [Line Items]
Loans payable, gross	616,833	619,090
Mortgage payable and loans payable
Debt Instrument [Line Items]
Loans payable, gross	$ 29,780	$ 34,527

Debt Facilities - Additional In

Debt Facilities - Additional Information (Details)			3 Months Ended		9 Months Ended
	Jan. 07, 2022 USD ($)	Jan. 07, 2022 GBP (£)	Sep. 30, 2023 USD ($) credit	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) credit	Sep. 30, 2022 USD ($)	Mar. 08, 2023 USD ($)	Mar. 08, 2023 JPY (¥)	Feb. 16, 2023 USD ($)	Feb. 16, 2023 JPY (¥)	Dec. 31, 2022 USD ($)	Apr. 05, 2022 USD ($)	Jan. 07, 2022 GBP (£)
Debt Instrument [Line Items]
Amount outstanding under the term loan facility, net			$ 13,703,408,000		$ 13,703,408,000
Amount of debt discounts and debt issuance costs			777,000		777,000						$ 1,062,000
Interest paid, net of capitalized interest			90,500,000	$ 85,900,000	316,600,000	$ 287,400,000
Senior Notes
Debt Instrument [Line Items]
Debt issuance cost, net			111,573,000		111,573,000						117,351,000
Amount outstanding under the term loan facility, net			$ 12,945,222,000		$ 12,945,222,000						12,109,539,000
2022 Senior Credit Facility | Line of Credit | Minimum
Debt Instrument [Line Items]
Quarterly facility fee percentage					0.07%
2022 Senior Credit Facility | Line of Credit | Minimum | SOFR
Debt Instrument [Line Items]
Variable rate (percent)					0.555%
2022 Senior Credit Facility | Line of Credit | Minimum | SONIA
Debt Instrument [Line Items]
Variable rate (percent)					0.625%
2022 Senior Credit Facility | Line of Credit | Maximum
Debt Instrument [Line Items]
Quarterly facility fee percentage					0.25%
2022 Senior Credit Facility | Line of Credit | Maximum | SOFR
Debt Instrument [Line Items]
Variable rate (percent)					1.20%
2022 Senior Credit Facility | Line of Credit | Maximum | SONIA
Debt Instrument [Line Items]
Variable rate (percent)					1.45%
3.900% Senior Notes due 2032 | Senior Notes
Debt Instrument [Line Items]
Interest rate (percent)			3.90%		3.90%							3.90%
Aggregate principal debt amount issued												$ 1,200,000,000
Amount of debt discounts and debt issuance costs												$ 16,300,000
2.000% Japanese Yen Senior Notes Series A due 2035 | Senior Notes
Debt Instrument [Line Items]
Interest rate (percent)			2%		2%		2%	2%
Aggregate principal debt amount issued							$ 274,700,000	¥ 37,700,000,000
Amount of debt discounts and debt issuance costs							$ 2,000,000
2.370% Japanese Yen Senior Notes Series B due 2043 | Senior Notes
Debt Instrument [Line Items]
Interest rate (percent)			2.37%		2.37%		2.37%	2.37%
Aggregate principal debt amount issued							$ 74,600,000	¥ 10,200,000,000
Amount of debt discounts and debt issuance costs							$ 600,000
2.130% Japanese Yen Senior Notes Series C due 2035 | Senior Notes
Debt Instrument [Line Items]
Interest rate (percent)			2.13%		2.13%		2.13%	2.13%
Aggregate principal debt amount issued							$ 107,900,000	¥ 14,800,000,000
Amount of debt discounts and debt issuance costs							$ 800,000
2.570% Japanese Yen Senior Notes Series D due 2043 | Senior Notes
Debt Instrument [Line Items]
Interest rate (percent)			2.57%		2.57%		2.57%	2.57%
Aggregate principal debt amount issued							$ 33,500,000	¥ 4,600,000,000
Amount of debt discounts and debt issuance costs							300,000
2.570% Japanese Yen Senior Notes Series E due 2043 | Senior Notes
Debt Instrument [Line Items]
Interest rate (percent)			2.57%		2.57%				2.57%	2.57%
Aggregate principal debt amount issued									$ 74,500,000	¥ 10,000,000,000
Amount of debt discounts and debt issuance costs							$ 600,000
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Amount available to borrow			$ 3,900,000,000		$ 3,900,000,000
Revolving Credit Facility | 2022 Senior Credit Facility | Line of Credit
Debt Instrument [Line Items]
Borrowing capacity	$ 4,000,000,000
Debt issuance cost, net	6,500,000
Term loans | Line of Credit
Debt Instrument [Line Items]
Amount outstanding under the term loan facility, net			$ 608,800,000		$ 608,800,000						$ 603,000,000
Term loans | 2022 Senior Credit Facility | Line of Credit
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
Term loans | 2017 Senior Credit Facility | Line of Credit
Debt Instrument [Line Items]
Repayments of debt	$ 549,600,000
Letter of Credit | Line of Credit
Debt Instrument [Line Items]
Numbers of letters of credit outstanding | credit			51		51
Letters of credit outstanding, amount			$ 79,400,000		$ 79,400,000

Debt Facilities - Senior Notes

Debt Facilities - Senior Notes (Details)	Sep. 30, 2023 USD ($)	Sep. 12, 2023 USD ($)	Sep. 12, 2023 CHF (SFr)	Mar. 08, 2023 USD ($)	Mar. 08, 2023 JPY (¥)	Feb. 16, 2023 USD ($)	Feb. 16, 2023 JPY (¥)	Dec. 31, 2022 USD ($)	Apr. 05, 2022 USD ($)
Debt Instrument [Line Items]
Total long term debt	$ 13,703,408,000
Senior Notes
Debt Instrument [Line Items]
Long term debt, gross	13,056,795,000							$ 12,226,890,000
Less amount representing unamortized debt issuance cost	(111,573,000)							(117,351,000)
Total long term debt	12,945,222,000							12,109,539,000
Senior Notes | 2.625% Senior Notes due 2024
Debt Instrument [Line Items]
Long term debt, gross	$ 1,000,000,000							$ 1,000,000,000
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	$ 500,000,000							$ 500,000,000
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	$ 700,000,000							$ 700,000,000
Effective interest rate	1.18%							1.18%
Interest rate (percent)	1%
Senior Notes | 2.900% Senior Notes due 2026
Debt Instrument [Line Items]
Long term debt, gross	$ 600,000,000							$ 600,000,000
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	$ 700,000,000							$ 700,000,000
Effective interest rate	1.64%							1.64%
Interest rate (percent)	1.45%
Senior Notes | 0.250% Euro Senior Notes due 2027
Debt Instrument [Line Items]
Long term debt, gross	$ 528,300,000							$ 534,950,000
Effective interest rate	0.45%							0.45%
Interest rate (percent)	0.25%
Senior Notes | 1.800% Senior Notes due 2027
Debt Instrument [Line Items]
Long term debt, gross	$ 500,000,000							$ 500,000,000
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	$ 650,000,000							$ 650,000,000
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	$ 400,000,000							$ 400,000,000
Effective interest rate	2.21%							2.21%
Interest rate (percent)	2%
Senior Notes | 2.875% Senior Notes due 2028
Debt Instrument [Line Items]
Long term debt, gross	$ 327,546,000							$ 0
Effective interest rate	3.07%							0%
Less amount representing unamortized debt issuance cost		$ (3,000,000)
Interest rate (percent)	2.875%	2.875%	2.875%
Aggregate principal debt amount issued		$ 336,900,000	SFr 300,000,000
Senior Notes | 3.200% Senior Notes due 2029
Debt Instrument [Line Items]
Long term debt, gross	$ 1,200,000,000							$ 1,200,000,000
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	$ 1,100,000,000							$ 1,100,000,000
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	$ 1,000,000,000							$ 1,000,000,000
Effective interest rate	2.65%							2.65%
Interest rate (percent)	2.50%
Senior Notes | 3.900% Senior Notes due 2032
Debt Instrument [Line Items]
Long term debt, gross	$ 1,200,000,000							$ 1,200,000,000
Effective interest rate	4.07%							4.07%
Interest rate (percent)	3.90%								3.90%
Aggregate principal debt amount issued									$ 1,200,000,000
Senior Notes | 1.000% Euro Senior Notes due 2033
Debt Instrument [Line Items]
Long term debt, gross	$ 633,960,000							$ 641,940,000
Effective interest rate	1.18%							1.18%
Interest rate (percent)	1%
Senior Notes | 2.000% Japanese Yen Senior Notes Series A due 2035
Debt Instrument [Line Items]
Long term debt, gross	$ 251,872,000							$ 0
Effective interest rate	2.07%							0%
Interest rate (percent)	2%			2%	2%
Aggregate principal debt amount issued				$ 274,700,000	¥ 37,700,000,000
Senior Notes | 2.130% Japanese Yen Senior Notes Series C due 2035
Debt Instrument [Line Items]
Long term debt, gross	$ 99,009,000							$ 0
Effective interest rate	2.20%							0%
Interest rate (percent)	2.13%			2.13%	2.13%
Aggregate principal debt amount issued				$ 107,900,000	¥ 14,800,000,000
Senior Notes | 2.370% Japanese Yen Senior Notes Series B due 2043
Debt Instrument [Line Items]
Long term debt, gross	$ 68,436,000							$ 0
Effective interest rate	2.42%							0%
Interest rate (percent)	2.37%			2.37%	2.37%
Aggregate principal debt amount issued				$ 74,600,000	¥ 10,200,000,000
Senior Notes | 2.570% Japanese Yen Senior Notes Series D due 2043
Debt Instrument [Line Items]
Long term debt, gross	$ 30,773,000							$ 0
Effective interest rate	2.62%							0%
Interest rate (percent)	2.57%			2.57%	2.57%
Aggregate principal debt amount issued				$ 33,500,000	¥ 4,600,000,000
Senior Notes | 2.570% Japanese Yen Senior Notes Series E due 2043
Debt Instrument [Line Items]
Long term debt, gross	$ 66,899,000							$ 0
Effective interest rate	2.62%							0%
Interest rate (percent)	2.57%					2.57%	2.57%
Aggregate principal debt amount issued						$ 74,500,000	¥ 10,000,000,000
Senior Notes | 3.000% Senior Notes due 2050
Debt Instrument [Line Items]
Long term debt, gross	$ 500,000,000							$ 500,000,000
Effective interest rate	3.09%							3.09%
Interest rate (percent)	3%
Senior Notes | 2.950% Senior Notes due 2051
Debt Instrument [Line Items]
Long term debt, gross	$ 500,000,000							$ 500,000,000
Effective interest rate	3%							3%
Interest rate (percent)	2.95%
Senior Notes | 3.400% Senior Notes due 2052
Debt Instrument [Line Items]
Long term debt, gross	$ 500,000,000							$ 500,000,000
Effective interest rate	3.50%							3.50%
Interest rate (percent)	3.40%

Debt Facilities - Maturities of

Debt Facilities - Maturities of Debt Instruments (Detail) $ in Thousands	Sep. 30, 2023 USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2023 (3 months remaining)	$ 2,129
2024	1,007,758
2025	1,206,548
2026	1,306,348
2027	1,642,825
Thereafter	8,537,800
Total long term debt	$ 13,703,408

Debt Facilities - Fair Value of

Debt Facilities - Fair Value of Debt Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Mortgage and loans payable	$ 657,705	$ 666,387
Senior notes	10,917,739	10,196,933
Level 1
Debt Instrument [Line Items]
Mortgage and loans payable	0	0
Senior notes	10,398,907	10,196,933
Level 2
Debt Instrument [Line Items]
Mortgage and loans payable	657,705	666,387
Senior notes	$ 518,832	$ 0

Debt Facilities - Interest Char

Debt Facilities - Interest Charges (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Disclosure [Abstract]
Interest expense	$ 101,385	$ 91,346	$ 298,839	$ 262,137
Interest capitalized	6,699	5,512	18,635	14,267
Interest charges incurred	$ 108,084	$ 96,858	$ 317,474	$ 276,404

Commitments and Contingencies (

Commitments and Contingencies (Detail)	Sep. 30, 2023 USD ($)	Mar. 31, 2023	Mar. 10, 2023
Other Commitments [Line Items]
Severance payment percent, scenario one	100%
Severance payment percent, scenario two	200%
Severance payment percent, scenario three	200%
EMEA 2 Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Other Commitments [Line Items]
Ownership percentage	20%
EMEA 2 Joint Venture | EMEA 2 Joint Venture Credit Facility | Variable Interest Entity, Not Primary Beneficiary
Other Commitments [Line Items]
Borrowing capacity	$ 1,300,000,000
Percentage guarantee on debt payments	0.20
Maximum guarantee under credit facility arrangement	$ 288,500,000
Maximum future payments under debt guarantees	144,500,000
AMER 1 Joint Venture
Other Commitments [Line Items]
Ownership percentage		20%	20%
AMER 1 Joint Venture | AMER1 Joint Venture credit | Variable Interest Entity, Not Primary Beneficiary
Other Commitments [Line Items]
Maximum future payments under debt guarantees	8,600,000
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	2,100,000,000
Miscellaneous Purchase Commitments
Other Commitments [Line Items]
Purchase commitments	$ 1,800,000,000

Stockholders' Equity - Rollforw

Stockholders' Equity - Rollforward (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			92,620,703				92,620,703
Beginning balance	$ 12,024,000	$ 12,028,859	$ 11,505,832	$ 10,629,594	$ 10,942,810	$ 10,881,764	$ 11,505,832	$ 10,881,764
Treasury stock beginning balance (in shares)			(193,273)				(193,273)
Net income (loss)	275,760	207,013	$ 258,730	211,739	216,242	147,693	$ 741,503	575,674
Other comprehensive income (loss)	(237,736)	(3,171)	104,258	(337,189)	(365,877)	32,840	$ (136,649)	(670,226)
Issuance of common stock and release of treasury stock for employee equity awards	42,419	2,542	44,544	37,667	14,039	43,876
Dividend distribution on common stock	(319,308)	(318,914)	(318,736)	(286,136)	(282,168)	(282,031)
Settlement of accrued dividends on vested equity awards	(343)	(86)	(483)	(327)	(57)	(497)
Accrued dividends on unvested equity awards	(4,695)	(5,058)	(2,406)	(4,031)	(4,400)	(2,045)
Stock-based compensation, net of estimated forfeitures	$ 106,462	112,815	136,345	106,757	109,005	121,210
Ending balance (in shares)	93,883,296						93,883,296
Ending balance	$ 11,886,559	$ 12,024,000	$ 12,028,859	$ 11,154,093	$ 10,629,594	$ 10,942,810	$ 11,886,559	11,154,093
Treasury stock ending balance (in shares)	(153,586)						(153,586)
Common Stock, Dividends, Per Share, Cash Paid	$ 3.41	$ 3.41	$ 3.41	$ 3.10	$ 3.10	$ 3.10
ATM Program
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under ATM Program			$ 300,775	$ 796,019
Equinix Stockholders' Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 12,024,109	$ 12,029,048	11,505,966	10,629,784	$ 10,942,885	$ 10,882,082	$ 11,505,966	10,882,082
Net income (loss)	275,794	207,030	258,786	211,807	216,322	147,453
Other comprehensive income (loss)	(237,554)	(3,268)	104,258	(337,161)	(365,842)	32,837
Issuance of common stock and release of treasury stock for employee equity awards	42,419	2,542	44,543	37,667	14,039	43,876
Dividend distribution on common stock	(319,308)	(318,914)	(318,736)	(286,136)	(282,168)	(282,031)
Settlement of accrued dividends on vested equity awards	(343)	(86)	(483)	(327)	(57)	(497)
Accrued dividends on unvested equity awards	(4,695)	(5,058)	(2,406)	(4,031)	(4,400)	(2,045)
Stock-based compensation, net of estimated forfeitures	106,462	112,815	136,345	106,757	109,005	121,210
Ending balance	$ 11,886,884	$ 12,024,109	12,029,048	11,154,379	$ 10,629,784	$ 10,942,885	$ 11,886,884	$ 11,154,379
Equinix Stockholders' Equity | ATM Program
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under ATM Program			$ 300,775	$ 796,019
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	93,736,659	93,691,925	92,813,976	91,340,481	91,303,799	90,872,826	92,813,976	90,872,826
Beginning balance	$ 94	$ 94	$ 93	$ 91	$ 91	$ 91	$ 93	$ 91
Issuance of common stock and release of treasury stock for employee equity awards (in shares)	300,223	44,734	419,490	285,176	36,682	430,973
Issuance of common stock and release of treasury stock for employee equity awards				$ 1
Issuance of common stock under ATM Program				$ 1
Ending balance (in shares)	94,036,882	93,736,659	93,691,925	92,786,363	91,340,481	91,303,799	94,036,882	92,786,363
Ending balance	$ 94	$ 94	$ 94	$ 93	$ 91	$ 91	$ 94	$ 93
Common Stock | ATM Program
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under ATM Program (in shares)			458,459	1,160,706
Issuance of common stock under ATM Program			$ 1
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ (63,973)	$ (65,988)	$ (71,966)	$ (98,792)	$ (107,949)	$ (112,208)	$ (71,966)	$ (112,208)
Treasury stock beginning balance (in shares)	(171,790)	(177,207)	(193,273)	(265,366)	(289,975)	(301,420)	(193,273)	(301,420)
Issuance of common stock and release of treasury stock for employee equity awards (in shares)	18,204	5,417	16,066	15,982	24,609	11,445
Issuance of common stock and release of treasury stock for employee equity awards	$ 6,774	$ 2,015	$ 5,978	$ 5,947	$ 9,157	$ 4,259
Ending balance	$ (57,199)	$ (63,973)	$ (65,988)	$ (92,845)	$ (98,792)	$ (107,949)	$ (57,199)	$ (92,845)
Treasury stock ending balance (in shares)	(153,586)	(171,790)	(177,207)	(249,384)	(265,366)	(289,975)	(153,586)	(249,384)
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 17,909,043	$ 17,795,701	$ 17,320,017	$ 16,259,311	$ 16,145,424	$ 15,984,597	$ 17,320,017	$ 15,984,597
Issuance of common stock and release of treasury stock for employee equity awards	35,645	527	38,565	31,719	4,882	39,617
Settlement of accrued dividends on vested equity awards				0
Stock-based compensation, net of estimated forfeitures	106,462	112,815	136,345	106,757	109,005	121,210
Ending balance	18,051,150	17,909,043	17,795,701	17,193,805	16,259,311	16,145,424	18,051,150	17,193,805
Additional Paid-in Capital | ATM Program
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under ATM Program			300,774	796,018
Accumulated Dividends
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(7,963,253)	(7,639,195)	(7,317,570)	(6,736,338)	(6,449,713)	(6,165,140)	(7,317,570)	(6,165,140)
Dividend distribution on common stock	(319,308)	(318,914)	(318,736)	(286,136)	(282,168)	(282,031)
Settlement of accrued dividends on vested equity awards	(343)	(86)	(483)	(327)	(57)	(497)
Accrued dividends on unvested equity awards	(4,695)	(5,058)	(2,406)	(4,031)	(4,400)	(2,045)
Ending balance	(8,287,599)	(7,963,253)	(7,639,195)	(7,026,832)	(6,736,338)	(6,449,713)	(8,287,599)	(7,026,832)
AOCI (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(1,288,456)	(1,285,188)	(1,389,446)	(1,418,756)	(1,052,914)	(1,085,751)	(1,389,446)	(1,085,751)
Other comprehensive income (loss)	(237,554)	(3,268)	104,258	(337,161)	(365,842)	32,837	(136,564)
Ending balance	(1,526,010)	(1,288,456)	(1,285,188)	(1,755,917)	(1,418,756)	(1,052,914)	(1,526,010)	(1,755,917)
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	3,430,654	3,223,624	2,964,838	2,624,268	2,407,946	2,260,493	2,964,838	2,260,493
Net income (loss)	275,794	207,030	258,786	211,807	216,322	147,453
Ending balance	3,706,448	3,430,654	3,223,624	2,836,075	2,624,268	2,407,946	3,706,448	2,836,075
Non-controlling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(109)	(189)	(134)	(190)	(75)	(318)	(134)	(318)
Net income (loss)	(34)	(17)	(56)	(68)	(80)	240
Other comprehensive income (loss)	(182)	97	0	(28)	(35)	3
Issuance of common stock and release of treasury stock for employee equity awards			1
Ending balance	$ (325)	$ (109)	$ (189)	$ (286)	$ (190)	$ (75)	$ (325)	$ (286)

Stockholders' Equity - Rollfo_2

Stockholders' Equity - Rollforward - Additional (Details) - $ / shares	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Equity [Abstract]
Dividend distribution on common stock (in dollars per share)	$ 3.41	$ 3.41	$ 3.41	$ 3.10	$ 3.10	$ 3.10

Stockholders' Equity - Componen

Stockholders' Equity - Components of Accumulated Other Comprehensive Loss (Detail) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023 USD ($) country plan	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Sep. 30, 2023 USD ($) country plan	Sep. 30, 2022 USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 12,024,000	$ 12,028,859	$ 11,505,832	$ 10,629,594	$ 10,942,810	$ 10,881,764	$ 11,505,832	$ 10,881,764
Net Change	(237,736)	(3,171)	104,258	(337,189)	(365,877)	32,840	(136,649)	(670,226)
Ending balance	$ 11,886,559	12,024,000	12,028,859	11,154,093	10,629,594	10,942,810	$ 11,886,559	11,154,093
Number of defined benefit pension plans | plan	2						2
Number of countries with a defined benefit pension plan | country	2						2
Accumulated other comprehensive loss attributable to Equinix
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ (1,288,456)	(1,285,188)	(1,389,446)	(1,418,756)	(1,052,914)	(1,085,751)	$ (1,389,446)	(1,085,751)
Net Change	(237,554)	(3,268)	104,258	(337,161)	(365,842)	32,837	(136,564)
Ending balance	(1,526,010)	$ (1,288,456)	(1,285,188)	$ (1,755,917)	$ (1,418,756)	$ (1,052,914)	(1,526,010)	$ (1,755,917)
Foreign currency translation adjustment (“CTA”) loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(1,838,237)				(1,838,237)
Net Change							(229,688)
Ending balance	(2,067,925)						(2,067,925)
Unrealized gain (loss) on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			33,953				33,953
Net Change							8,012
Ending balance	41,965						41,965
Net investment hedge CTA gain (loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			415,749				415,749
Net Change							85,462
Ending balance	501,211						501,211
Net actuarial loss on defined benefit plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			$ (911)				(911)
Net Change							(350)
Ending balance	$ (1,261)						$ (1,261)

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Detail)				1 Months Ended	9 Months Ended
	Apr. 03, 2023 USD ($)	Feb. 28, 2023 USD ($) $ / shares	Aug. 03, 2022 USD ($) $ / shares	Feb. 28, 2022 alternative	Sep. 30, 2023 USD ($) agreement $ / shares shares	Sep. 30, 2022 USD ($) agreement shares	Dec. 31, 2022 agreement shares	Nov. 30, 2022 USD ($)	Oct. 31, 2020 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of stock, number of shares authorized (in shares) | shares							458,459
Expected proceeds from sale of stock		$ 301,600,000
Expected issuance of common stock, weighted average price (in dollars per share) | $ / shares		$ 657.75
Proceeds from redeemable non-controlling interest	$ 25,000,000				$ 25,000,000	$ 0
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, approved (in shares) | shares					943,224
Weighted-average grant date fair value (in dollars per share) | $ / shares					$ 694.34
Requisite service period (in years)					3 years 6 months 7 days
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
Sale of stock, number of shares authorized (in shares) | shares					308,875		0
2022 ATM Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of stock, equity offering agreement, authorized								$ 1,500,000,000
Number of settlement alternatives | alternative				3
Sale of stock, number of shares authorized (in shares) | shares					149,584
Sale of stock, equity offering agreement, available for sale					$ 1,000,000,000
Equity Forward Amendment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of forward sale agreements | agreement					5	5	3
Issuance of common stock, shares sold (in shares) | shares					564,126	579,873
Gross proceeds from sale of stock			$ 393,600,000
Issuance of common stock, weighted average price (in dollars per share) | $ / shares			$ 678.72		$ 764.78
Expected proceeds from sale of stock					$ 431,400,000
Equity Forward Amendment Second Sale
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock, shares sold (in shares) | shares						580,833
Gross proceeds from sale of stock						$ 403,600,000

Stockholders' Equity - Stock-Ba

Stockholders' Equity - Stock-Based Compensation Expense Recognized in Company's Condensed Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 98,446	$ 101,830	$ 301,707	$ 296,464
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	12,389	10,732	36,111	33,053
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	22,638	22,507	64,697	65,862
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 63,419	$ 68,591	$ 200,899	$ 197,549

Stockholders' Equity - Redeemab

Stockholders' Equity - Redeemable Non-controlling Interest (Details) - USD ($) $ in Thousands	Apr. 03, 2023	Sep. 30, 2023	Dec. 31, 2022
Redeemable Noncontrolling Interest [Line Items]
Redeemable non-controlling interest		$ 25,000	$ 0
Indonesian Operating Entity
Redeemable Noncontrolling Interest [Line Items]
Ownership in variable interest entity (percent)	25%
Noncontrolling interest, maximum exercise price	$ 25,000
Indonesian Operating Entity | Other Assets
Redeemable Noncontrolling Interest [Line Items]
Noncontrolling interest in variable interest entity		29,400
Indonesian Operating Entity | Other Liabilities
Redeemable Noncontrolling Interest [Line Items]
Noncontrolling interest in variable interest entity		$ 2,100

Segment Information - Narrative

Segment Information - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) segment line	Sep. 30, 2022 USD ($)
Revenue from External Customer [Line Items]
Number of primary lines of business | line			1
Number of reportable segments | segment			3
Revenues	$ 2,061,030	$ 1,840,659	$ 6,077,647	$ 5,392,260
UNITED STATES
Revenue from External Customer [Line Items]
Revenues	771,500	$ 722,600	2,300,000	$ 2,100,000
UNITED KINGDOM
Revenue from External Customer [Line Items]
Revenues	$ 218,300		$ 607,600

Segment Information - Revenue I

Segment Information - Revenue Information on Services Basis (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue from External Customer [Line Items]
Revenues	$ 2,061,030	$ 1,840,659	$ 6,077,647	$ 5,392,260
Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	1,961,043	1,748,132	5,768,693	5,097,907
Colocation
Revenue from External Customer [Line Items]
Revenues	1,464,181	1,296,093	4,296,645	3,772,410
Interconnection
Revenue from External Customer [Line Items]
Revenues	352,758	318,250	1,036,603	942,657
Managed infrastructure
Revenue from External Customer [Line Items]
Revenues	113,630	102,466	336,502	309,012
Other
Revenue from External Customer [Line Items]
Revenues	30,474	31,323	98,943	73,828
Non-recurring revenues
Revenue from External Customer [Line Items]
Revenues	99,987	92,527	308,954	294,353
Americas
Revenue from External Customer [Line Items]
Revenues	913,693	846,161	2,685,781	2,477,446
Americas | Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	872,282	805,466	2,564,210	2,353,485
Americas | Colocation
Revenue from External Customer [Line Items]
Revenues	596,871	555,352	1,754,537	1,619,511
Americas | Interconnection
Revenue from External Customer [Line Items]
Revenues	206,552	190,283	609,457	558,877
Americas | Managed infrastructure
Revenue from External Customer [Line Items]
Revenues	63,356	54,704	184,755	159,255
Americas | Other
Revenue from External Customer [Line Items]
Revenues	5,503	5,127	15,461	15,842
Americas | Non-recurring revenues
Revenue from External Customer [Line Items]
Revenues	41,411	40,695	121,571	123,961
EMEA
Revenue from External Customer [Line Items]
Revenues	708,714	591,812	2,086,688	1,741,493
EMEA | Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	673,124	564,034	1,970,831	1,636,826
EMEA | Colocation
Revenue from External Customer [Line Items]
Revenues	538,256	445,733	1,571,233	1,293,641
EMEA | Interconnection
Revenue from External Customer [Line Items]
Revenues	78,795	66,703	227,718	201,688
EMEA | Managed infrastructure
Revenue from External Customer [Line Items]
Revenues	32,790	28,493	97,105	89,930
EMEA | Other
Revenue from External Customer [Line Items]
Revenues	23,283	23,105	74,775	51,567
EMEA | Non-recurring revenues
Revenue from External Customer [Line Items]
Revenues	35,590	27,778	115,857	104,667
Asia-Pacific
Revenue from External Customer [Line Items]
Revenues	438,623	402,686	1,305,178	1,173,321
Asia-Pacific | Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	415,637	378,632	1,233,652	1,107,596
Asia-Pacific | Colocation
Revenue from External Customer [Line Items]
Revenues	329,054	295,008	970,875	859,258
Asia-Pacific | Interconnection
Revenue from External Customer [Line Items]
Revenues	67,411	61,264	199,428	182,092
Asia-Pacific | Managed infrastructure
Revenue from External Customer [Line Items]
Revenues	17,484	19,269	54,642	59,827
Asia-Pacific | Other
Revenue from External Customer [Line Items]
Revenues	1,688	3,091	8,707	6,419
Asia-Pacific | Non-recurring revenues
Revenue from External Customer [Line Items]
Revenues	$ 22,986	$ 24,054	$ 71,526	$ 65,725

Segment Information - Schedule

Segment Information - Schedule of Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Total adjusted EBITDA	$ 935,931	$ 870,916	$ 2,781,384	$ 2,530,960
Depreciation, amortization and accretion expense	(461,842)	(431,668)	(1,381,298)	(1,300,882)
Stock-based compensation expense	(98,446)	(101,830)	(301,707)	(296,464)
Transaction costs	775	(2,007)	(6,543)	(11,310)
Gain (loss) on asset sales	3,933	(2,252)	5,022	(3,976)
Interest income	23,111	11,192	66,002	17,806
Interest expense	(101,385)	(91,346)	(298,839)	(262,137)
Other expense	(5,972)	(6,735)	(9,987)	(22,522)
Gain (loss) on debt extinguishment	(360)	75	(106)	184
Income before income taxes	295,745	246,345	853,928	651,659
Americas
Segment Reporting Information [Line Items]
Total adjusted EBITDA	404,897	395,159	1,202,732	1,127,938
EMEA
Segment Reporting Information [Line Items]
Total adjusted EBITDA	310,172	283,286	931,499	839,013
Asia-Pacific
Segment Reporting Information [Line Items]
Total adjusted EBITDA	$ 220,862	$ 192,471	$ 647,153	$ 564,009

Segment Information - Segment D

Segment Information - Segment Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Total depreciation and amortization	$ 462,939	$ 430,192	$ 1,381,675	$ 1,298,802
Capital expenditures	617,539	552,729	1,785,298	1,450,077
Americas
Segment Reporting Information [Line Items]
Total depreciation and amortization	251,963	234,300	749,459	693,232
Capital expenditures	382,800	278,487	1,076,339	688,635
EMEA
Segment Reporting Information [Line Items]
Total depreciation and amortization	126,665	111,879	373,679	342,552
Capital expenditures	146,776	168,481	449,008	528,808
Asia-Pacific
Segment Reporting Information [Line Items]
Total depreciation and amortization	84,311	84,013	258,537	263,018
Capital expenditures	$ 87,963	$ 105,761	$ 259,951	$ 232,634

Segment Information - Long-Live

Segment Information - Long-Lived Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property, plant and equipment, net	$ 17,370,577	$ 16,649,534
Operating lease right-of-use assets	1,516,011	1,427,950
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property, plant and equipment, net	8,284,052	7,532,125
Operating lease right-of-use assets	422,468	263,148
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property, plant and equipment, net	5,712,711	5,577,498
Operating lease right-of-use assets	437,873	440,139
Asia-Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property, plant and equipment, net	3,373,814	3,539,911
Operating lease right-of-use assets	$ 655,670	$ 724,663

Subsequent Events (Details)

Subsequent Events (Details)	Oct. 25, 2023 $ / shares
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared (in dollars per share)	$ 4.26