CyrusOne (CONE) 10-Q 2 Aug 19 2019 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2019	Jul. 25, 2019
Cover page.
Document Transition Report	false
Title of 12(b) Security	Common Stock, $0.01 par value
Document Quarterly Report	true
Entity Address, Address Line One	2101 Cedar Springs Road
Entity Incorporation, State or Country Code	MD
Entity Registrant Name	CyrusOne Inc.
Entity Central Index Key	0001553023
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Entity File Number	001-35789
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Trading Symbol	CONE
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		113,192,342
Entity Address, Address Line Two	Suite 900
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75201
City Area Code	972
Local Phone Number	350-0060
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Tax Identification Number	46-0691837
Entity Shell Company	false
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Investment in real estate:
Land	$ 148	$ 118.5
Buildings and improvements	1,689.7	1,677.5
Equipment	2,869.7	2,630.2
Gross operating real estate	4,707.4	4,426.2
Less accumulated depreciation	(1,207.4)	(1,054.5)
Net operating real estate	3,500	3,371.7
Construction in progress, including land under development	799.2	744.9
Land held for future development	200.4	176.4
Total investment in real estate, net	4,499.6	4,293
Cash and cash equivalents	144.1	64.4
Rent and other receivables (net of allowance for doubtful accounts of $1.4 and $1.7 as of June 30, 2019 and December 31, 2018, respectively)	268.4	234.9
Restricted cash	1.3	0
Operating lease right-of-use assets, net	78.5	0
Equity investments	91.9	198.1
Goodwill	455.1	455.1
Intangible assets (net of accumulated amortization of $187.0 and $166.9 as of June 30, 2019 and December 31, 2018, respectively)	215.3	235.7
Other assets	115.5	111.3
Total assets	5,869.7	5,592.5
Liabilities and equity
Debt	2,713.8	2,624.7
Finance lease liabilities	31.6	156.7
Operating lease liabilities	114.1	0
Construction costs payable	149.5	195.3
Accounts payable and accrued expenses	112.8	121.3
Dividends payable	53	51
Deferred revenue and prepaid rents	166.8	148.6
Deferred tax liability	65.5	68.9
Total liabilities	3,407.1	3,366.5
Commitments and contingencies
Stockholders' equity
Preferred stock, $.01 par value, 100,000,000 authorized; no shares issued or outstanding	0	0
Common stock, $.01 par value, 500,000,000 shares authorized and 113,176,370 and 108,329,314 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively	1.1	1.1
Additional paid in capital	3,089.5	2,837.4
Accumulated deficit	(613)	(600.2)
Accumulated other comprehensive loss	(15)	(12.3)
Total stockholders’ equity	2,462.6	2,226
Total liabilities and equity	$ 5,869.7	$ 5,592.5

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 1.4	$ 1.7
Accumulated amortization for intangible assets	$ 187	$ 166.9
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock authorized (in shares)	100,000,000	100,000,000
Preferred stock issued (in shares)	0	0
Preferred stock outstanding (in shares)	0	0
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized (in shares)	500,000,000	500,000,000
Common stock issued (in shares)	113,176,370	108,329,314
Common stock outstanding (in shares)	113,176,370	108,329,314

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenue	$ 251.5	$ 196.9	$ 476.5	$ 393.5
Operating expenses:
Property operating expenses	103.3	68.9	186.6	136.7
Sales and marketing	5.3	4.4	10.6	9.7
General and administrative	19.7	18.6	41.9	37.9
Depreciation and amortization	102.1	77.6	204.2	152.2
Transaction, acquisition, integration and other related expenses	1.4	0.4	1.7	2.3
Total operating expenses	231.8	169.9	445	338.8
Operating income	19.7	27	31.5	54.7
Interest expense	(21.1)	(22.8)	(44.8)	(43.6)
(Loss) gain on marketable equity investment	(8.5)	102.7	92.7	143.2
Loss on early extinguishment of debt	0	0	0	(3.1)
Other expense	0	0	(0.1)	0
Net (loss) income before income taxes	(9.9)	106.9	79.3	151.2
Income tax benefit (expense)	1.4	(1)	1.6	(1.8)
Net (loss) income	$ (8.5)	$ 105.9	$ 80.9	$ 149.4
Weighted average common shares outstanding - basic (in shares)	113.1	98.6	110.7	97.3
Weighted average common shares outstanding - diluted (in shares)	113.1	99.4	111.1	98.1
(Loss) income per share - basic (in dollars per share)	$ (0.08)	$ 1.07	$ 0.73	$ 1.53
(Loss) income per share - diluted (in dollars per share)	$ (0.08)	$ 1.06	$ 0.73	$ 1.52

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (8.5)	$ 89.4	$ 105.9	$ 43.5	$ 80.9	$ 149.4
Other comprehensive (loss) income:
Foreign currency translation adjustment	(2.4)	0.6	0	$ 0.1	(1.8)	0.1
Net derivative gain on cash flow hedging instruments	(3.6)	$ 2.7	0		(0.9)	0
Comprehensive (loss) income	$ (14.5)		$ 105.9		$ 78.2	$ 149.5

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning Balance (in shares) at Dec. 31, 2017		96.1
Beginning Balance at Dec. 31, 2017	$ 1,713.9	$ 1	$ 2,125.6	$ (486.9)	$ 74.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	43.5			43.5
Issuance of common stock, net (in shares)		2.8
Issuance of common stock, net	142.9	$ 0	142.9
Stock-based compensation expense (in shares)		0
Stock-based compensation expense	3.9		3.9
Tax payment upon exercise of equity awards (in shares)		0
Tax payment upon exercise of equity awards	(4.4)		(4.4)
Foreign currency translation adjustment	0.1				0.1
Dividends declared	(45.6)			(45.6)
Ending Balance (in shares) at Mar. 31, 2018		98.9
Ending Balance at Mar. 31, 2018	1,854.6	$ 1	2,268	(413.1)	(1.3)
Beginning Balance (in shares) at Dec. 31, 2017		96.1
Beginning Balance at Dec. 31, 2017	1,713.9	$ 1	2,125.6	(486.9)	74.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 149.4
Issuance of common stock, net (in shares)	3
Foreign currency translation adjustment	$ 0.1
Net derivative gain on cash flow hedging instruments	0
Ending Balance (in shares) at Jun. 30, 2018		99.1
Ending Balance at Jun. 30, 2018	1,928.2	$ 1	2,281.5	(353)	(1.3)
Beginning Balance (in shares) at Mar. 31, 2018		98.9
Beginning Balance at Mar. 31, 2018	1,854.6	$ 1	2,268	(413.1)	(1.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	105.9			105.9
Issuance of common stock, net (in shares)		0.2
Issuance of common stock, net	9.3	$ 0	9.3
Stock-based compensation expense (in shares)		0
Stock-based compensation expense	4.5		4.5
Tax payment upon exercise of equity awards (in shares)		0
Tax payment upon exercise of equity awards	(0.3)		(0.3)
Foreign currency translation adjustment	0
Net derivative gain on cash flow hedging instruments	0
Dividends declared	(45.8)			(45.8)
Ending Balance (in shares) at Jun. 30, 2018		99.1
Ending Balance at Jun. 30, 2018	1,928.2	$ 1	2,281.5	(353)	(1.3)
Beginning Balance (in shares) at Dec. 31, 2018		108.3
Beginning Balance at Dec. 31, 2018	2,226	$ 1.1	2,837.4	(600.2)	(12.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	89.4			89.4
Issuance of common stock, net (in shares)		2
Issuance of common stock, net	105	$ 0	105
Stock-based compensation expense (in shares)		0
Stock-based compensation expense	4.5		4.5
Tax payment upon exercise of equity awards (in shares)		0
Tax payment upon exercise of equity awards	(8.7)		(8.7)
Foreign currency translation adjustment	0.6				0.6
Net derivative gain on cash flow hedging instruments	2.7				2.7
Dividends declared	(50.9)			(50.9)
Ending Balance (in shares) at Mar. 31, 2019		110.3
Ending Balance at Mar. 31, 2019	2,378.1	$ 1.1	2,938.2	(552.2)	(9)
Beginning Balance (in shares) at Dec. 31, 2018		108.3
Beginning Balance at Dec. 31, 2018	2,226	$ 1.1	2,837.4	(600.2)	(12.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	80.9
Foreign currency translation adjustment	(1.8)
Net derivative gain on cash flow hedging instruments	(0.9)
Ending Balance (in shares) at Jun. 30, 2019		113.2
Ending Balance at Jun. 30, 2019	2,462.6	$ 1.1	3,089.5	(613)	(15)
Beginning Balance (in shares) at Mar. 31, 2019		110.3
Beginning Balance at Mar. 31, 2019	2,378.1	$ 1.1	2,938.2	(552.2)	(9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(8.5)			(8.5)
Issuance of common stock, net (in shares)		2.9
Issuance of common stock, net	147.6	$ 0	147.6
Other	0.1		0.1
Stock-based compensation expense (in shares)		0
Stock-based compensation expense	3.7		3.7
Tax payment upon exercise of equity awards (in shares)		0
Tax payment upon exercise of equity awards	(0.1)		(0.1)
Foreign currency translation adjustment	(2.4)				(2.4)
Net derivative gain on cash flow hedging instruments	(3.6)				(3.6)
Dividends declared	(52.3)			(52.3)
Ending Balance (in shares) at Jun. 30, 2019		113.2
Ending Balance at Jun. 30, 2019	$ 2,462.6	$ 1.1	$ 3,089.5	$ (613)	$ (15)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (in dollars per share)	$ 0.46	$ 0.46	$ 0.46	$ 0.46

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)
Cash flows from operating activities:
Net income	$ (8.5)	$ 80.9	$ 149.4
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	102.1	204.2	152.2
Provision for bad debt expense		(0.3)	0.4
Unrealized gain on marketable equity investment	3.2	(25.8)	(143.2)
Realized gain on marketable equity investment	5.3	(66.9)	0
Loss on early extinguishment of debt	0	0	3.1
Interest expense amortization, net		2.3	1.8
Stock-based compensation expense	3.7	8.2	8.4
Deferred income tax expense		(3.4)	0
Operating lease cost		9.6	0
Other		(0.2)	0
Change in operating assets and liabilities:
Rent and other receivables, net and other assets		(41.1)	(36.8)
Accounts payable and accrued expenses		(8.2)	(3.1)
Deferred revenue and prepaid rents		18	16.3
Operating lease liabilities		(9.8)	0
Net cash provided by operating activities		167.5	148.5
Cash flows from investing activities:
Investment in real estate		(514.8)	(322.7)
Proceeds from sale of equity investments		199.8	0
Equity investments		(0.3)	0
Net cash used in investing activities		(315.3)	(322.7)
Cash flows from financing activities:
Issuance of common stock, net		252.6	152.2
Dividends paid		(101.3)	(86.6)
Proceeds from revolving credit facility		287.8	0
Proceeds from unsecured term loan		0	985.4
Repayments of unsecured term loan		(200)	(902.7)
Payments on finance lease liabilities		(1.2)	(5.1)
Tax payment upon exercise of equity awards		(8.8)	(4.7)
Net cash provided by (used in) financing activities		229.1	138.5
Effect of exchange rate changes on cash, cash equivalents and restricted cash		(0.3)	0
Net increase (decrease) in cash, cash equivalents and restricted cash		81	(35.7)
Cash, cash equivalents and restricted cash at beginning of period		64.4	151.9
Cash, cash equivalents and restricted cash at end of period	145.4	145.4	116.2
Supplemental disclosure of cash flow information:
Cash paid for interest, including amounts capitalized of $18.1 million and $10.4 million in 2019 and 2018, respectively		62.7	53.3
Cash paid for income taxes		2.8	3
Non-cash investing and financing activities:
Construction costs payable	149.5	149.5	113.3
Dividends payable	$ 53	$ 53	$ 46.5

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Statement of Cash Flows [Abstract]
Interest capitalized	$ 18.1	$ 10.4

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business CyrusOne Inc., together with CyrusOne GP (the "General Partner"), a wholly-owned subsidiary of CyrusOne Inc., through which CyrusOne Inc. wholly owns CyrusOne LP (the "Operating Partnership") and the subsidiaries of the Operating Partnership (collectively, "CyrusOne", "we", "us", "our", and the "Company") is an owner, operator and developer of enterprise-class, carrier-neutral, multi-tenant and single-tenant data center properties. As of June 30, 2019 , all the issued and outstanding operating partnership units of CyrusOne LP are owned, directly or indirectly, by the Company. Our customers operate in a number of industries, including information technology, financial services, energy, oil and gas, mining, medical and consumer goods and services. We currently operate 49 data centers located in the United States, United Kingdom, Germany and Singapore.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Interim Unaudited Financial Information The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and should be read in conjunction with the financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2018 , which was filed with the Securities and Exchange Commission ("SEC") on February 22, 2019. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been omitted from this report on Form 10-Q pursuant to the rules and regulations of the SEC. Results for the interim periods in this report are not necessarily indicative of future financial results and have not been audited by our independent registered public accounting firm. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments necessary to present fairly our condensed consolidated financial statements as of June 30, 2019 and December 31, 2018 , and for the three and six months ended June 30, 2019 and 2018 . These adjustments are of a normal recurring nature and consistent with the adjustments recorded to prepare the annual audited consolidated financial statements as of December 31, 2018 . All amounts reflected are in millions except share and per share data. Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of the Company, as well as all wholly-owned subsidiaries and any consolidated variable interest entities. All intercompany balances and transactions have been eliminated in consolidation. Reclassifications Certain financial information has been revised to conform to the current year presentation due to changes in the significance of the particular activity. The following items have been reclassified: Balance Sheet as of December 31, 2018 • Straight-line rent receivable of $128.7 million included in rent and other receivables was previously included in other assets. Statement of Cash Flows for the period ended June 30, 2018 • The cash flow effect of the change in proceeds from our unsecured term loan of $985.4 million included in proceeds from unsecured term loan was previously included in debt. • The cash flow effect of the change in repayments of our unsecured term loan of $902.7 million included in repayments of unsecured term loan was previously included in debt. Investment in Real Estate Acquisition of Properties Investment in real estate consist of land, buildings, improvements and integral equipment utilized in our data center operations. We expect most acquisitions to be an acquisition of assets rather than a business combination as our typical acquisitions consist of properties whereby substantially all the fair value of gross assets acquired is concentrated in a single asset set (land, building and in-place leases), which are treated as asset acquisitions. See Business Combinations and Asset Acquisitions herein. Business Combinations and Asset Acquisitions We evaluate whether an acquisition is a business combination or an asset acquisition by determining whether the set of assets is a business. Asset Acquisitions When substantially all of the fair value of gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets, the transaction is accounted for as an asset acquisition. Asset acquisitions are recorded at the cumulative acquisition costs and allocated to the assets acquired and liabilities assumed on a relative fair value basis. The Company allocates the purchase price of real estate to identifiable tangible assets such as land, building, land improvements and tenant improvements acquired based on their fair value. In estimating the fair value of each component, management considers appraisals, replacement cost, its own analysis of recently acquired and existing comparable properties, market rental data and other related information. Transaction costs associated with asset acquisitions are capitalized. Business Combinations When substantially all of the fair value is not concentrated in a group of similar identifiable assets, the set of assets will generally be considered a business and the Company applies the purchase method for business combinations, where all tangible and identifiable intangible assets acquired and all liabilities assumed are recorded at fair value. Any excess purchase price is recorded as goodwill. Transaction costs associated with business combinations are expensed as incurred. The following discussion applies to our initial determination of fair value and the resulting subsequent accounting which is generally applicable to both asset acquisitions and business combinations. The fair value of any tangible real estate assets acquired is determined by valuing the building as if it were vacant, and the fair value is then allocated to land, buildings, equipment and improvements based on available information including replacement cost, appraisal or using net operating income capitalization rates, discounted cash flow analysis or similar fair value models. We determine in-place lease values based on our evaluation of the specific characteristics of each tenant’s lease agreement and by applying a fair value model. The estimates of fair value of in-place leases include an estimate of carrying costs during the expected lease up periods considering current market conditions. In estimating fair value of in-place leases, we consider items such as real estate taxes, insurance, leasing commissions, tenant improvements and other operating expenses to execute similar leases as well as projected rental revenue and carrying costs during the expected lease up period. We amortize the value of in-place leases acquired to expense over the approximate weighted average remaining term of the leases, adjusted for projected tenant turnover, on a composite basis. We determine the value of above-market and below-market in-place leases for acquired properties based on the present value (using an interest rate that reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) estimates of current market lease rates for the corresponding in-place leases, measured over a period equal to (i) the remaining non-cancellable lease term for above-market leases, or (ii) the remaining non-cancellable lease term plus any renewal options that we consider are reasonably certain that a lessee will execute such renewal option when a lease commences. We record the fair value of above-market and below-market leases as intangible assets or liabilities, and amortize them as an adjustment to revenue over the lease term. We determine the fair value of assumed debt by calculating the net present value of the scheduled debt service payments using current market-based terms for interest rates for debt with similar terms that management believes we could obtain on similar structures and maturities. Any difference between the fair value and stated value of the assumed debt is recorded as a discount or premium and amortized over the remaining term of the loan. In a business combination, we retain the previous lease classification unless there is a lease modification and that modification is not accounted for as a separate new lease. We elected to apply the short-term lease measurement and recognition exemption available under the new accounting standard for leases (discussed below in Note 3. "Recently Adopted Accounting Standards") to leases that have a remaining lease term of 12 months or less at the acquisition date, and accordingly, do not recognize an intangible asset if the terms of an operating lease are favorable relative to market terms, or a liability if the terms are unfavorable relative to market terms. Leasehold improvements are amortized over the shorter of the useful life of the assets and the remaining lease term at the date of acquisition. Capitalization of Costs We capitalize costs directly related to the development, pre-development or improvement of our investment in real estate, referred to as capital projects and other activities included within this paragraph. Costs associated with our capital projects are capitalized as incurred. If the project is abandoned, these costs are expensed during the period in which the project is abandoned. Costs considered for capitalization include, but are not limited to, construction costs, interest, real estate taxes, insurance and utilities, if appropriate. We capitalize indirect costs such as personnel, office and administrative expenses that are directly related to our development projects based on an estimate of the time spent on the construction and development activities. These costs are capitalized only during the period in which activities necessary to ready an asset for its intended use are in progress and such costs are incremental and identifiable to a specific activity to get the asset ready for its intended use. We determine when the capitalization period begins and ends through communication with project and other managers responsible for the tracking and oversight of individual projects. In the event that the activities to ready the asset for its intended use are suspended, the capitalization period will cease until such activities are resumed. In addition, we capitalize incremental initial direct costs incurred for successful origination of new leases which include internal and external leasing commissions. Interest expense is capitalized based on actual qualifying capital expenditures from the period when development commences until the asset is ready for its intended use, at the weighted average borrowing rate during the period. These costs are included in investment in real estate and depreciated over the estimated useful life of the related assets. Costs incurred for maintaining and repairing our properties, which do not extend their useful lives, are expensed as incurred. Impairment Losses When events or circumstances indicate that the carrying amount of a real estate investment may not be recoverable, we review the carrying value of the asset. When such impairment indicators exist, we review an estimate of the undiscounted future cash flows expected to result from the use of the real estate investment and proceeds from its eventual disposition and compare such amount to the carrying amount of the real estate investment. If our undiscounted cash flows indicate that we are unable to recover the carrying value of the real estate investment, an impairment loss is recognized. An impairment loss is measured as the amount by which the real estate investment's carrying value exceeds its estimated fair value. We did not record any impairment losses for the three and six months ended June 30, 2019 and June 30, 2018 . Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents include all non-restricted cash held in financial institutions and other non-restricted highly liquid short-term investments with original maturities of three months or less. Restricted cash includes cash equivalents restricted by contract or regulation, including letters of credit. Equity Investments We hold investments in various joint ventures where the Company evaluates its ability to influence the operating or financial decisions of the investee in applying the appropriate method of accounting for such investments. Influence tends to be more effective as the investor's percent of ownership in the voting rights of the investee increases. Our equity investments represent less than 20% of the voting rights of the investees and we do not exercise influence over the investee's operating and financial decisions. Accordingly, we do not account for our equity investments using the equity method accounting. For further information about our equity investments, see Note 7. "Equity Investments". Our investment in GDS Holdings Limited ("GDS") is classified as "available for sale" and is carried at fair value. Revenue Recognition Our revenue consists of lease revenue and revenue from contracts with customers. The Company adopted Accounting Standards Codification (“ASC”) 842, Leases (“ASC 842”), the new accounting standard for leases, effective January 1, 2019 using the modified retrospective approach and prior periods were not restated. In addition, the Company adopted Revenue from Contracts with Customers (“ASC 606”), the new accounting standard for revenue from contracts with customers, effective January 1, 2018 using the modified retrospective approach. See Note 3. “Recently Adopted Accounting Standards” and Note 4. “Revenue Recognition”. Lease Revenue: Our leasing revenue primarily consists of colocation rent, metered power reimbursements and interconnection revenue and is accounted for under ASC 842, Leases. We generally are not entitled to reimbursements for rental expenses including real estate taxes, insurance or other common area operating expenses. a. Colocation Rent Revenue Colocation rent revenues, including interconnection revenue, are fixed minimum lease payments generally billed monthly in advance based on the contracted power or leased space. Some contracts may provide initial free rent periods and rents that escalate over the term of the contract. If rents escalate without the lessee gaining access to or control over additional leased power or space at the beginning of the lease term, the rental payments are recognized as revenue on a straight-line basis over the term of the lease. If rents escalate because the lessee gains access to and control over additional power and or leased space, revenue is recognized in proportion to the additional power or space in the periods that the lessee has control over the use of the additional power or space. The excess of revenue recognized over amounts contractually due is recognized as a straight-line receivable, which is included in rent and other receivables in our consolidated balance sheet. Some of our leases are structured on a gross basis in which the customer pays a fixed amount for colocation space and power. The revenue for these types of leases is recorded in colocation rent revenue. b. Metered Power Reimbursements Revenue Some of our leases provide that the customer is separately billed for power based upon actual or estimated metered usage at rates then in effect. Metered power reimbursement revenue is variable lease payments generally billed one month in arrears, and an estimate of this revenue is accrued in the month that the associated power is provided and recorded in metered power reimbursements revenue. Revenue from Contracts with Customers Managed services, equipment sales, installations and other services are recognized under ASC 606. Equipment sold by us generally consists of servers, switches, networking equipment, cable infrastructure and cabinets. Revenue is recognized at a point-in-time when control of the equipment transfers to the customer from the Company, which generally occurs upon delivery to the customer. Managed services include providing of a full-service managed data center, monitoring customer computer equipment, managing backups and storage, utilization reporting and other related ancillary information technology services. Management service contracts generally range from one to five years . Installation services include mounting, wiring, and testing of customer owned equipment. The installation period is typically short term in duration, and accordingly, revenue from the installation of customer equipment is recognized at a point-in-time once the installation is complete and the performance obligation is satisfied. Other services generally include installation of customer equipment, performing customer system re-boots, server cabinet and cage management, power monitoring, shipping and receiving, resolving technical issues, and other services requested by the customer. Other service revenue is measured based on the consideration specified in the contract and recognized over time as we satisfy the performance obligation. Rent and Other Receivables Receivables consist principally of trade receivables from customers and straight-line rent receivables with estimated credit losses recorded as an allowance for doubtful accounts. Foreign Currency Translation and Transactions The financial position of foreign subsidiaries is translated at the exchange rates in effect at the end of the period, while revenues and expenses are translated at average exchange rates during the period. Gains or losses from translation of foreign operations where the local currency is the functional currency are included as components of other comprehensive income (loss). Gains or losses from foreign currency transactions are included in determining net income (loss). Stock-Based Compensation We have a stock-based incentive award plan for our employees and directors. Stock-based compensation expense associated with these awards is recognized in general and administrative expenses, property operating expenses, and sales and marketing expenses in our consolidated statements of operations. We measure stock-based compensation at the estimated fair value on the grant date and recognize the amortization of stock-based compensation expense over the requisite service period. Fair value is determined based on assumptions related to volatility, interest rates and the market, and our company performance. Fair Value Measurements Fair value measurements are utilized in accounting for business combinations, asset acquisitions, testing of goodwill and other long-lived assets for impairment, recording unrealized gain/loss on available-for-sale securities, derivatives and related disclosures. Fair value of financial and non-financial assets and liabilities is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The three-tier hierarchy that prioritizes certain inputs used in the methodologies of measuring fair value for asset and liabilities, is as follows: Level 1—Observable inputs for identical instruments such as quoted market prices; Level 2—Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs); and Level 3—Unobservable inputs that reflect our determination of assumptions that market participants would use in pricing the asset or liability. These inputs are developed based on the best information available, including our own data. Derivative Instruments Derivative instruments are measured at fair value and recorded as assets or liabilities, depending on our rights or obligations under the applicable derivative contract. Derivatives that are not designated as hedges must be adjusted to fair value through earnings. For a derivative designated and that qualified as a cash flow hedge, the effective portion of the change in fair value of the derivative is recognized in the condensed consolidated statement of comprehensive income (loss) until the hedged item is recognized in earnings. Any ineffective portion of a derivative's change in fair value is immediately recognized in earnings. For interest rate derivatives, amounts recognized in earnings are reflected in interest expense. For a derivative designated and that qualified as a net investment hedge, the effective portion of the change in the fair value and/or the net settlement of the derivative are reported in the condensed consolidated statement of comprehensive income (loss) as part of the cumulative foreign currency translation adjustment. Any ineffective portion of the change in fair value of the derivative is recognized directly in earnings. Amounts are reclassified out of other comprehensive income (loss) into earnings when the hedged investment is either sold or substantially liquidated.

Recently Issued Accounting Stan

Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2019
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Standards	Recently Adopted Accounting Standards Leases We adopted ASU 2016-02 (codified in ASC 842, Leases ) on January 1, 2019, applied the package of practical expedients included therein and utilized the modified retrospective transition method with the cumulative effect of transition on the effective date. By applying the modified retrospective transition method, the presentation of financial information for periods prior to January 1, 2019 was not restated. We elected the package of practical expedients, which permits us to not reassess (1) whether any expired or existing contracts are or contain leases, (2) the lease classification for any expired or existing leases, and (3) the treatment of any initial direct costs for any existing leases as of the effective date. We did not elect the hindsight practical expedient, which permits entities to use hindsight in determining the lease term and assessing impairment. As a Lessee The ASU requires that a liability be recorded on the balance sheet for all leases where the reporting entity is a lessee, based on the present value of future lease obligations. A corresponding right-of-use ("ROU") asset will also be recorded. Amortization of the lease obligation and the ROU asset for leases classified as operating leases are on a straight-line basis. Leases classified as financing leases are required to be accounted for as financing arrangements similar to the accounting treatment for capital leases under ASC 840, Leases (the former accounting standard for all leases, ("ASC 840")). We elected the practical expedient to combine our lease and related non-lease components by asset class for our leases. We elected the practical expedient to not evaluate land easements not previously accounted for as leases prior to the entity’s adoption of the new accounting standard for leases. We elected to apply the short-term lease measurement and recognition exemption available for leases under the new accounting standard for leases that have a remaining lease term of 12 months or less. The adoption of ASC 842 had a significant impact on our consolidated balance sheet due to the recognition of approximately $87.0 million of ROU assets and $123.2 million of lease liabilities for operating leases. We recognized a $9.5 million cumulative effect adjustment to retained earnings. The adjustment to retained earnings was driven principally by measurement of operating lease liabilities at the present value of the remaining lease payments at the adoption date of January 1, 2019. The increase was offset in part by impairment of ROU assets associated with one build-to-suit ("BTS") arrangement recognized as an operating lease under the new accounting standard for leases. Additionally, we de-recognized certain previously recognized BTS lease assets and liabilities which under the new accounting standard for leases are recognized as operating lease ROU assets and lease liabilities. Prior to the adoption of the new accounting standard for leases, these leases were accounted as financing arrangements or BTS leases assets and liabilities and recorded as buildings and improvement and lease financing arrangements. The table below reflects the impact of adoption of the lease standard on our consolidated balance sheets as of June 30, 2019 and December 31, 2018 (in millions) related to previously reported BTS leases: Impact to the consolidated balance sheets: As of December 31, 2018 As of June 30, 2019 Buildings and improvements $ 77.4 $ — Operating lease right-of-use assets — 46.9 Finance lease liabilities 123.3 — Operating lease liabilities — 82.1 Prior to the adoption of the new accounting standard for leases, BTS lease assets were amortized over the useful life of the asset and recorded as amortization expense and accretion of BTS lease liability was recorded as an interest expense in consolidated statement of operations. Upon adoption of the new accounting standard for leases, BTS leases are accounted as operating leases and amortization and accretion of lease liabilities of these operating leases are recorded as lease expenses in property operating expenses in our consolidated statement of operations. As a Lessor The accounting for lessors remained largely unchanged from ASC 840. However, the new accounting standard for leases requires that lessors expense certain costs to obtain a lease that are not incremental to origination of a lease. Upon adoption, initial direct cost that are not incremental are expensed as general and administrative expense in our consolidated statements of operations. Prior to the adoption of new standard, these costs were capitalizable. As a result of electing the package of practical expedients, initial direct costs have not been reassessed prior to the effective date and therefore adoption of the lease standard did not have an impact on our previously reported consolidated statements of operations with respect to initial direct costs. In addition, under the new accounting standard for leases, certain exceptions under the previous standard for real estate no longer are applicable in the evaluation of the lease classification as an operating, sales type or direct financing lease. In the event that a real estate lease is classified as sales-type lease, subject to certain conditions, a gain or loss is recognized based on the present value of the lease payments and residual value. We elected the practical expedient to combine all of our lease and nonlease revenue components into a single combined lease component as nonlease components have the same pattern of transfer as the related predominant operating lease components. Our customer leases include options to extend or terminate the lease agreements. We do not generally include extension or termination options in a customer’s lease term for lease classification purposes or for recognizing lease revenue unless we are reasonably certain the customer will exercise these extension or termination options at lease commencement. Revenue from contracts with customers On January 1, 2018, we adopted the Financial Accounting Standards Board ("FASB") pronouncement ASU 2014-09 with respect to revenue recognition. The revised guidance outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and superseded prior revenue recognition guidance, including industry-specific revenue guidance. The revised guidance replaced most existing revenue and real estate sale recognition guidance in GAAP. The standard specifically excludes lease contracts, which is our primary recurring revenue source; however, our revenue accounting for managed services, equipment sales, installations and other services will follow the revised guidance. We adopted the new standard using the modified retrospective transition method, where financial statement presentations prior to the date of adoption are not restated. Transactions that were not closed as of the adoption date were adjusted to reflect the new standard and we recorded an adjustment to beginning retained earnings of $0.3 million . As allowed under GAAP, we have adopted the practical expedient that allows us not to disclose information about remaining performance obligations that have original expected durations of one year or less, the amount of the transaction price allocated to the remaining performance obligations and when we expect to recognize that amount as revenue for the year. We also adopted the "as invoiced" practical expedient, whereby the Company recognizes revenue in the amount that directly corresponds to the amount of value transferred to the customer. Share based payments granted to nonemployees On January 1, 2019, we adopted ASU 2018-07, Compensation-Stock Compensation (Topic 718) which simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under this ASU, the guidance on such payments to nonemployees aligns with the requirements for share-based payments granted to employees. The adoption did not have a significant impact as the Company accounts for its share-based payments. Equity investments On January 1, 2018, we adopted ASU 2016-01 related to equity investments. Equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) are measured at fair value with changes in fair value recognized in net income. Prior to adoption of this update, changes in fair value for available for sale equity investments were recorded in other comprehensive income (loss). The adoption of the new standard was made through a cumulative-effect adjustment to beginning retained earnings of $75.6 million . Changes in Shareholders' Equity In August 2018, the SEC issued Securities Act Release No. 33-10532, Disclosure Update and Simplification, which amends certain of its disclosure requirements and is intended to facilitate the disclosure of information to investors and simplify compliance without significantly altering the total mix of information provided to investors. The amendments became effective on November 5, 2018. Among the amendments is the requirement to present the changes in shareholders' equity in the interim financial statements (either in a separate statement or footnote) for interim periods on Form 10-Q. In accordance with the SEC's rule, the company's first presentation of changes in shareholders’ equity was shown in the Form 10-Q for the quarter ended March 31, 2019. New Accounting Pronouncements Not Yet Adopted In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software, which clarifies the accounting for implementation costs incurred in a hosting arrangement that is a service contract. Capitalization of these implementation costs are accounted for under the same guidance as implementation costs incurred to develop or obtain internal-use software and recorded as a prepaid asset. These capitalized costs are to be expensed ratably over the hosting arrangement term as operating expense, along with the service fees. The guidance is effective for periods beginning after December 15, 2019 and early adoption is allowed. The Company is evaluating the impact of the new standard but does not believe that adoption will have a significant impact on the Company. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement, which changes the fair value measurement disclosure requirements of ASC 820, Fair Value Measurement. The amendments are part of the FASB’s disclosure framework project to improve the effectiveness of disclosures in the notes to the financial statements by facilitating clear communication of the information required by GAAP that is most important to financial statement users and are intended to improve the effectiveness of disclosure requirements on fair value measurement by using those concepts. The guidance is effective for periods beginning after December 15, 2019 and early adoption is allowed. The Company is evaluating the impact of the new standard. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses, providing guidance which requires certain financial assets to be presented at the net amount expected to be collected. The FASB has subsequently issued various amendments to further clarify the scope of the initial guidance. ASU 2016-13 and its related amendments will apply to our trade receivables, notes receivable, net investments in leases and any other future financial assets that have the contractual right to receive cash that we may acquire in the future. FASB further clarified that receivables arising from operating leases are not within the scope of this sub-topic. The guidance is effective for periods beginning January 1, 2020 and early adoption is allowed. We are currently evaluating the impact of the new standard.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Lease Revenue Lease revenue primarily consists of colocation rent and metered power reimbursements from the lease of our data centers. Colocation leases may include all or portions of a data center, where customers may also lease office space to support their colocation operations. Revenue is primarily based on power usage as well as square footage. Customer lease arrangements customarily contain provisions that allow for renewal or continuation on a month-to-month arrangement, and certain leases contain early termination rights. We do not include any of these extension or termination options in a customer’s lease term for lease classification purposes or for recognizing lease revenue unless we are reasonably certain the customer will exercise these extension or termination options at lease commencement. At lease commencement, early termination is generally not deemed probable due to the significant economic penalty incurred by the lessee to exercise its early termination right and to relocate their equipment installed in our facilities. Generally, our customer lease arrangements do not provide any option to purchase and are classified as operating leases. The future minimum lease payments to be received under non-cancellable operating leases, excluding month-to-month arrangements and metered power reimbursements are shown below (in millions): For the Period Ended June 30, 2019 Minimum Lease Payments 2019 $ 363.6 2020 679.7 2021 577.3 2022 486.0 2023 395.4 2024 307.3 Thereafter 953.8 Total $ 3,763.1 Disclosures related to periods prior to adoption of the New Accounting Standard for Leases The future minimum lease payments to be received under non-cancellable operating leases, excluding month-to-month arrangements and metered power reimbursements are shown below (in millions): For the Period Ended December 31, 2018 Minimum Lease Payments 2019 $ 647.6 2020 553.7 2021 453.0 2022 365.5 2023 284.4 Thereafter 835.9 Total $ 3,140.1 Revenue from Contracts with Customers Revenue from equipment sales and the installation of customer equipment is recognized at a point-in-time. Title to such assets are transferred to the customer, and the benefits of the installation service are typically consumed at the completion of the service. Disaggregation of Revenue For the three and six months ended June 30, 2019 , revenue disaggregated by primary revenue stream is as follows (in millions): Lease Revenue Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Colocation (Minimum lease payments) $ 197.3 $ 385.6 Meter power reimbursements (Variable lease payments) 31.7 60.3 Total Lease revenue $ 229.0 $ 445.9 For the three and six months ended June 30, 2019 and 2018, revenue disaggregated by primary revenue stream is as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, Revenue from contracts with customers 2019 2018 2019 2018 Equipment sales and services $ 17.1 $ 2.4 $ 21.1 8.2 Other revenue 5.4 4.4 9.5 8.4 Total Revenue from contracts with customers $ 22.5 $ 6.8 $ 30.6 $ 16.6 Other revenue from contracts with customers includes $4.3 million and $7.7 million of revenue from managed services for the three and six months ended June 30, 2019 , respectively, and $3.2 million and $6.4 million for the three and six months ended June 30, 2018 , respectively. Total revenues from contracts with customers generated from operations outside of the United States were insignificant for the three and six months ended June 30, 2019 and 2018 . The balances from customers accounts receivables were $6.0 million and $9.4 million as of June 30, 2019 and December 31, 2018 , respectively. Contract assets were $2.9 million as of June 30, 2019 and were not material as of December 31, 2018. Contract liabilities were not material as of both June 30, 2019 and December 31, 2018 . One customer represented approximately 22% and 19% of our revenue for the six months ended June 30, 2019 and 2018 , respectively.

Leases - As a Lessee

Leases - As a Lessee	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases - As a Lessee	Leases - As a Lessee ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. Variable lease payments consisting of non-lease components and services are excluded from the ROU assets and lease liabilities and are recognized in the period in which the obligation is incurred. The new accounting standard for leases defines initial direct costs as only the incremental costs of signing a lease. Initial direct costs related to leasing that are not incremental are expensed as general and administrative expense in our consolidated statements of operations. As a result of electing the package of practical expedients, initial direct costs incurred prior to the effective date have not been reassessed. Our operating lease agreements primarily consist of leased real estate and are included within operating lease ROU assets and operating lease liabilities on the consolidated balance sheets. Many of our lease agreements include options to extend the lease, which are not included in our minimum lease payments unless they are reasonably certain to be exercised at lease commencement. Rental expense related to operating leases is recognized on a straight-line basis over the lease term. We operate four data center facilities subject to finance leases. The remaining terms of our finance leases range from two to twenty-two years with options to extend the initial lease term on all but one lease. As a result of electing the package of practical expedients, these finance leases are classified under ASC 840 and are included in buildings and improvements, equipment and finance lease liabilities in our consolidated balance sheets. In addition, we lease 14 other office locations and data centers under operating lease agreements including 10 data centers and four offices supporting our sales and corporate activities. Our operating leases have remaining lease terms ranging from one to seventeen years and one ground lease in Houston has a lease term that expires in 2066. The components of lease expense is as follows (in millions): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease cost $ 4.6 $ 9.6 Finance lease cost: Amortization of assets 0.6 1.1 Interest on lease liabilities 0.4 0.9 Total net lease cost $ 5.6 $ 11.6 Supplemental balance sheet information related to leases is as follows (in millions, except lease term and discount rate): June 30, 2019 Operating leases: Operating lease right-of-use assets $ 78.5 Operating lease liabilities $ 114.1 Finance leases: Property and equipment, at cost $ 33.1 Accumulated amortization (3.8 ) Property and equipment, net $ 29.3 Finance lease liabilities $ 31.6 Weighted average remaining lease term (in years): Operating leases 12.2 Finance leases 18.1 Weighted average discount rate: Operating leases 4.5 % Finance leases 5.1 % Supplemental cash flow and other information related to leases is as follows (in millions): Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9.8 Operating cash flows from finance leases 0.9 Financing cash flows from finance leases 1.2 Non-cash right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 85.7 Maturities of lease liabilities were as follows (in millions): As of June 30, 2019 Operating Leases Finance Leases 2019 $ 10.2 $ 2.1 2020 19.5 4.2 2021 15.3 4.1 2022 15.7 2.9 2023 11.9 1.8 2024 7.6 1.4 Thereafter 70.4 29.9 Total lease payments $ 150.6 $ 46.4 Less: Imputed interest (36.5 ) (14.8 ) Total lease obligations $ 114.1 $ 31.6 As of June 30, 2019 , we have one additional operating lease commitment that has not commenced of approximately $22.2 million fixed contractual payments with an expected lease term of approximately 12 years. Disclosures related to periods prior to adoption of the New Accounting Standard for Leases The following table summarizes aggregate minimum principal payments of the finance lease obligations and future minimum lease payments required under operating leases for the five years subsequent to December 31, 2018, and thereafter (in millions): Operating Leases Finance Leases 2019 $ 5.0 $ 2.7 2020 4.9 2.8 2021 3.7 2.9 2022 3.7 2.0 2023 3.5 1.0 Thereafter 43.4 22.0 Total lease payments $ 64.2 $ 33.4
Leases - As a Lessee	Leases - As a Lessee ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. Variable lease payments consisting of non-lease components and services are excluded from the ROU assets and lease liabilities and are recognized in the period in which the obligation is incurred. The new accounting standard for leases defines initial direct costs as only the incremental costs of signing a lease. Initial direct costs related to leasing that are not incremental are expensed as general and administrative expense in our consolidated statements of operations. As a result of electing the package of practical expedients, initial direct costs incurred prior to the effective date have not been reassessed. Our operating lease agreements primarily consist of leased real estate and are included within operating lease ROU assets and operating lease liabilities on the consolidated balance sheets. Many of our lease agreements include options to extend the lease, which are not included in our minimum lease payments unless they are reasonably certain to be exercised at lease commencement. Rental expense related to operating leases is recognized on a straight-line basis over the lease term. We operate four data center facilities subject to finance leases. The remaining terms of our finance leases range from two to twenty-two years with options to extend the initial lease term on all but one lease. As a result of electing the package of practical expedients, these finance leases are classified under ASC 840 and are included in buildings and improvements, equipment and finance lease liabilities in our consolidated balance sheets. In addition, we lease 14 other office locations and data centers under operating lease agreements including 10 data centers and four offices supporting our sales and corporate activities. Our operating leases have remaining lease terms ranging from one to seventeen years and one ground lease in Houston has a lease term that expires in 2066. The components of lease expense is as follows (in millions): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease cost $ 4.6 $ 9.6 Finance lease cost: Amortization of assets 0.6 1.1 Interest on lease liabilities 0.4 0.9 Total net lease cost $ 5.6 $ 11.6 Supplemental balance sheet information related to leases is as follows (in millions, except lease term and discount rate): June 30, 2019 Operating leases: Operating lease right-of-use assets $ 78.5 Operating lease liabilities $ 114.1 Finance leases: Property and equipment, at cost $ 33.1 Accumulated amortization (3.8 ) Property and equipment, net $ 29.3 Finance lease liabilities $ 31.6 Weighted average remaining lease term (in years): Operating leases 12.2 Finance leases 18.1 Weighted average discount rate: Operating leases 4.5 % Finance leases 5.1 % Supplemental cash flow and other information related to leases is as follows (in millions): Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9.8 Operating cash flows from finance leases 0.9 Financing cash flows from finance leases 1.2 Non-cash right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 85.7 Maturities of lease liabilities were as follows (in millions): As of June 30, 2019 Operating Leases Finance Leases 2019 $ 10.2 $ 2.1 2020 19.5 4.2 2021 15.3 4.1 2022 15.7 2.9 2023 11.9 1.8 2024 7.6 1.4 Thereafter 70.4 29.9 Total lease payments $ 150.6 $ 46.4 Less: Imputed interest (36.5 ) (14.8 ) Total lease obligations $ 114.1 $ 31.6 As of June 30, 2019 , we have one additional operating lease commitment that has not commenced of approximately $22.2 million fixed contractual payments with an expected lease term of approximately 12 years. Disclosures related to periods prior to adoption of the New Accounting Standard for Leases The following table summarizes aggregate minimum principal payments of the finance lease obligations and future minimum lease payments required under operating leases for the five years subsequent to December 31, 2018, and thereafter (in millions): Operating Leases Finance Leases 2019 $ 5.0 $ 2.7 2020 4.9 2.8 2021 3.7 2.9 2022 3.7 2.0 2023 3.5 1.0 Thereafter 43.4 22.0 Total lease payments $ 64.2 $ 33.4

Investment in Real Estate

Investment in Real Estate	6 Months Ended
	Jun. 30, 2019
Real Estate [Abstract]
Investment in Real Estate	Investment in Real Estate Land for future development During the six months ended June 30, 2019 , the Company purchased approximately 30 acres of land for $40.1 million . During the six months ended June 30, 2018 , the Company purchased approximately 68 acres of land for $19.7 million . Real Estate Investments and Intangible Assets and Related Depreciation and Amortization As of June 30, 2019 and December 31, 2018 , major components of our real estate investments and intangible assets, and related accumulated depreciation and amortization, are as follows (in millions): June 30, 2019 December 31, 2018 Investment in Real Estate Intangible Assets Investment in Real Estate Intangible Assets Buildings and Improvements Equipment Customer Relationships In Place Leases Other Contract Intangible Assets Buildings and Improvements Equipment Customer Relationships In Place Leases Other Contract Intangible Assets Cost $ 1,689.7 $ 2,869.7 $ 247.1 $ 135.9 $ 19.3 $ 1,677.5 $ 2,630.2 $ 247.1 $ 136.0 $ 19.5 Less: accumulated depreciation and amortization (504.0 ) (703.4 ) (144.5 ) (33.7 ) (8.8 ) (481.8 ) (572.7 ) (137.9 ) (21.1 ) (7.9 ) Net $ 1,185.7 $ 2,166.3 $ 102.6 $ 102.2 $ 10.5 $ 1,195.7 $ 2,057.5 $ 109.2 $ 114.9 $ 11.6 Depreciation and amortization are calculated using the straight-line method over the useful lives of the assets. The typical life of owned assets are as follows: Buildings 30 years Building improvements 30 years Equipment 20 years Leased real estate and leasehold improvements are depreciated over the shorter of the asset's useful life or the remaining lease term. Depreciation expense was $88.9 million and $177.8 million for the three and six months ended June 30, 2019 , and $68.9 million and $135.1 million for the three and six months ended June 30, 2018 , respectively. Other contract intangible assets include tradename, favorable leasehold interests and above market leases. Amortization expense related to other contract intangibles was $13.2 million and $26.4 million for the three and six months ended June 30, 2019 , and $8.7 million and $17.1 million for the three and six months ended June 30, 2018 , respectively.

Equity Investment

Equity Investment	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Equity Investment	Equity Investments The Company has an equity investment in GDS, a developer and operator of high-performance, large-scale data centers in China. As of June 30, 2019 , the American Depositary Share ("ADS") Class A ordinary share equivalent was $37.57 per ADS based on its closing price. In April 2019, we sold approximately 5.7 million GDS ADSs for a total sales price of approximately $200.0 million . We continue to hold approximately 2.3 million GDS ADSs, with the remaining GDS ADSs being subject to a lock-up period expiring October 12, 2019, subject to customary carve outs. As a result of this lack of marketability, we applied an estimated discount of 8.7% to this equity investment resulting in an equity investment fair value of $79.0 million as of June 30, 2019. IN MILLIONS Three months ended June 30, 2019 Six months ended June 30, 2019 Net (loss) gain on marketable equity investments $ (8.5 ) $ 92.7 Less: Net (loss) gain recognized on marketable equity investments sold (5.3 ) 66.9 Unrealized (loss) gain on marketable equity investment held as of June 30, 2019 $ (3.2 ) $ 25.8 The (loss) gain on investment is recognized in the consolidated statement of operations in (loss) gain on marketable equity investment. On October 8, 2018, the Company made an $11.9 million investment in exchange for a 10% equity interest in ODATA Brasil S.A. and ODATA Colombia S.A.S. (collectively "ODATA"). ODATA, a Brazilian headquartered company, specializes in providing colocation services to wholesale customers, such as hyperscale cloud providers, financial services and telecommunications companies, and also to enterprises across multiple industries. On October 30, 2018, the Company made an additional $0.7 million investment in ODATA Colombia S.A.S. (“ODATA Colombia”). In connection with these investments, CyrusOne and ODATA entered into a commercial agreement covering leasing activity with CyrusOne customers in the ODATA portfolio. In addition, our Chief Technology Officer joined the ODATA board of directors in October 2018. In evaluating the appropriate accounting method for its investment in ODATA, the Company considered its right to appoint a director to the ODATA board of directors, as well as other relevant factors, in evaluating the Company's ability to exercise significant influence over the operating and financial policies of ODATA as provided in ASC 323-10-15-6 and concluded that the investment should be accounted for under the cost method. During the quarter ended June 30, 2019, the Company made a capital contribution of approximately $0.3 million to ODATA Colombia.

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets As of June 30, 2019 and December 31, 2018 , the components of other assets are as follows (in millions): June 30, 2019 December 31, 2018 Deferred leasing and other contract costs $ 44.2 $ 43.6 Prepaid expenses 26.8 26.4 Non-real estate assets, net 18.9 18.4 Other assets 25.6 22.9 Total $ 115.5 $ 111.3 Non-real estate assets primarily include administrative related equipment and office leasehold improvements, depreciated or amortized over the shorter of the assets useful life or the related lease term. Other assets primarily includes deposits, fuel inventory and other deferred costs.

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt As of June 30, 2019 and December 31, 2018 , the components of debt are as follows (unless otherwise noted, interest rate and maturity date information are as of June 30, 2019 ) (in millions): June 30, 2019 December 31, 2018 Interest Rate (a) Maturity Date $3.0 Billion Credit Facility: $1.7 Billion Revolving Credit Facility: March 2022 (b) US Revolver $ 270.0 $ — Monthly LIBOR + 1.55% EUR Revolver 153.5 143.0 Monthly EURIBOR + 1.55% GBP Revolver 6.4 — Monthly LIBOR + 1.55% 2023 Term Loan 800.0 1,000.0 Monthly LIBOR + 1.50% March 2023 2025 Term Loan 300.0 300.0 Monthly LIBOR + 1.80% March 2025 2024 Notes, including bond premium of $4.9 million 704.9 705.5 5.000 % March 2024 2027 Notes, including bond premium of $8.4 million 508.4 509.1 5.375 % March 2027 Deferred financing costs (29.4 ) (32.9 ) — — Total $ 2,713.8 $ 2,624.7 (a) - Monthly LIBOR as of June 30, 2019 was 2.41% . (b) - The Company may exercise a one-year extension option, subject to certain conditions. During March 2019, the Company entered into a cross-currency swap whereby the Company pays floating interest on €238.1 million and receives floating interest rate on $270.0 million (a "pay-floating, receive-floating interest rate swap") to hedge the variability of future cash flows attributable to changes in the 1-month USD LIBOR versus EUR LIBOR rates. The pay-floating, receive-floating interest rate swap has an effective date of March 2019 and a maturity date of December 2019 and net interest payments are recognized in earnings, including $2.0 million and $2.3 million as reductions in interest expense for the three and six months ended June 30, 2019 , respectively. On March 29, 2018, the Company entered into a new $3.0 billion unsecured credit facility. The new credit facility consists of a $1.7 billion revolving credit facility (" $1.7 Billion Revolving Credit Facility"), which includes a $750.0 million multicurrency borrowing sublimit, a 5 -year term loan with commitments totaling $1.0 billion ("2023 Term Loan") and a $300.0 million 7 -year term loan ("2025 Term Loan") (collectively, the " $3.0 Billion Credit Facility"). We borrowed $700.0 million under the 2023 Term Loan on March 31, 2018, and the 2023 Term Loan includes a delayed draw feature which allows the Company to draw $300.0 million in up to three tranches over a six-month period in multiple currencies. The Company exercised the draw as a part of the acquisition of Zenium Topco Ltd. and certain other affiliated entities ("Zenium"). The $1.7 Billion Revolving Credit Facility has the option to borrow in non-USD currencies and includes a one -year option which, if exercised by the Company, would extend the final maturity to March 2023. The $3.0 Billion Credit Facility also includes an accordion feature providing for an aggregate increase in the revolving and term loan components to $3.8 billion , subject to certain conditions. The $1.7 Billion Revolving Credit Facility, 2023 Term Loan and 2025 Term Loan are prepayable at our option. In April 2019, the Company used the proceeds from the sale of GDS shares to pay down $200.0 million of the 2023 Term Loan. On March 29, 2018, borrowings of $1.0 billion under the $3.0 Billion Credit Facility were used to fully retire a previous $2.0 billion credit facility. The previous $2.0 billion credit facility consisted of a $1.1 billion senior unsecured revolving credit facility (" $1.1 Billion Revolving Credit Facility"), a $250.0 million 5 -year term loan ("2021 Term Loan") and a $650.0 million 7 -year term loan ("2022 Term Loan") (collectively, the " $2.0 Billion Credit Facility"). The aggregate outstanding principal balance of the $2.0 Billion Credit Facility at the date of the prepayment was $900.0 million and we recognized a loss on early extinguishment of debt of $3.1 million. We pay commitment fees for the unused amount of borrowings on the $1.7 Billion Revolving Credit Facility and fees on any outstanding letters of credit. The commitment fees are equal to 0.25% per annum of the actual daily amount by which the aggregate revolving commitments exceed the sum of outstanding revolving loans and letter of credit obligations. The commitment fees decrease to 0.15% per annum upon 50% or greater utilization. We also paid commitment fees on the $1.1 Billion Revolving Credit Facility through its retirement in March 2018. Commitment fees were $0.5 million and $1.1 million for the three months ended June 30, 2019 and 2018 , respectively, and $1.0 million and $1.8 million for the six months ended June 30, 2019 and 2018 , respectively. As of June 30, 2019 , we had $800.0 million , $300.0 million and $429.9 million outstanding under the 2023 Term Loan, the 2025 Term Loan and the $1.7 Billion Revolving Credit Facility, respectively, and additional borrowing capacity under the $3.0 Billion Credit Facility was approximately $1.3 billion ( $1.3 billion under the $1.7 Billion Revolving Credit Facility and zero under the 2023 Term Loan), net of $8.0 million of outstanding letters of credit. On March 17, 2017, the Operating Partnership and CyrusOne Finance Corp., a single-purpose finance subsidiary, both wholly-owned subsidiaries of the Company (together, the "Note Issuers") completed an offering of $500.0 million aggregate principal amount of 5.000% senior notes due 2024 ("Original 2024 Notes") and $300.0 million aggregate principal amount of 5.375% senior notes due 2027 ("Original 2027 Notes") in a private offering. The Company received proceeds of $791.2 million , net of underwriting costs and other deferred financing costs. On November 3, 2017, the Note Issuers completed an offering of $200.0 million aggregate principal amount of 5.000% senior notes due 2024 ("Additional 2024 Notes") and $200.0 million aggregate principal amount of 5.375% senior notes due 2027 ("Additional 2027 Notes") in a private offering. The Additional 2024 Notes have terms substantially identical to the Original 2024 Notes and the Additional 2027 Notes have terms substantially identical to the Original 2027 Notes. The Original 2024 Notes and the Additional 2024 Notes form a single class of securities ("2024 Notes"), and the Original 2027 Notes and the Additional 2027 Notes form a single class of securities ("2027 Notes"). The Company received proceeds of $416.1 million , net of underwriting costs of $4.4 million . The Original 2024 Notes and the Additional 2024 Notes are referred to as the 2024 Notes and the Original 2027 Notes and the Additional 2027 Notes are referred to as the 2027 Notes. On January 8, 2018, the Note Issuers completed an exchange offer with respect to the 2024 Notes and the 2027 Notes and all validly tendered 2024 Notes and 2027 Notes were exchanged for notes registered with the SEC. The 2024 Notes and 2027 Notes are senior unsecured obligations of the Note Issuers, which rank equally in right of payment with all existing and future unsecured senior indebtedness of the Note Issuers. The 2024 Notes and 2027 Notes are effectively subordinated in right of payment to any secured indebtedness of the Note Issuers to the extent of the value of the assets securing such indebtedness. The senior notes are guaranteed on a joint and several basis by the Company, the General Partner and all of CyrusOne LP’s existing domestic subsidiaries that guarantee the $3.0 Billion Credit Facility. Each of CyrusOne LP’s restricted subsidiaries (other than any designated excluded subsidiary or receivables entity) that guarantees any other indebtedness of CyrusOne LP or other indebtedness of the guarantors will be required to guarantee the senior notes in the future. Each such guarantee is a senior unsecured obligation of the applicable guarantor, ranking equally with all existing and future unsecured senior indebtedness of such guarantor and effectively subordinated to all existing and future secured indebtedness of such guarantor to the extent of the value of the assets securing that indebtedness. The 2024 Notes and 2027 Notes are structurally subordinated to all liabilities (including trade payables) of each subsidiary of CyrusOne LP that does not guarantee the 2024 Notes and 2027 Notes. The 2024 Notes and 2027 Notes may be redeemed at our option prior to their scheduled maturity dates at the prices and premiums and on the terms set forth in the respective indentures governing the notes. Our debt agreements contain customary provisions with respect to events of default, affirmative and negative covenants and borrowing conditions. The most restrictive covenants are generally included in the $3.0 Billion Credit Agreement. The $3.0 Billion Credit Agreement requires us to maintain certain financial covenants including the following, in each case on a consolidated basis, a minimum fixed charge ratio, maximum total and secured leverage ratios, a minimum tangible net worth requirement, a maximum secured recourse indebtedness ratio, a minimum unencumbered debt yield ratio and a maximum ratio of unsecured indebtedness to unencumbered asset value. In order to continue to have access to amounts available under the $3.0 Billion Credit Agreement, the Company must remain in compliance with all of that agreement's covenants. As of June 30, 2019 , we believe we are in compliance with all provisions of our debt agreements.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments and Hedging Activities Fair value measurements are based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering assumptions in fair value measurements, a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity's own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy) has been established. Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets and liabilities that we have the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability that are typically based on an entity's own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement requires judgment and considers factors specific to the asset or liability. The fair value of cash and cash equivalents, rent and other receivables, construction costs payable, dividends payable and accounts payable and accrued expenses approximate their carrying value because of the short-term nature of these financial instruments. The carrying value, exclusive of deferred financing costs, for the revolving credit facilities and the floating rate term loans approximate estimated fair value as of June 30, 2019 and December 31, 2018 , due to the floating rate nature of the interest rates and the stability of our credit ratings. The carrying value and fair value of other financial instruments are as follows (in millions): June 30, 2019 December 31, 2018 Carrying Value Fair Value Carrying Value Fair Value 2024 Notes $ 704.9 $ 720.1 $ 705.5 $ 684.1 2027 Notes 508.4 528.8 509.1 488.0 GDS Equity investment 79.0 79.0 185.5 185.5 The fair values of our 2024 Notes and 2027 Notes as of June 30, 2019 were based on the quoted market prices for these notes, which is considered Level 1 of the fair value hierarchy. The fair value of the GDS equity investment as of June 30, 2019 was based on the quoted market price for the stock which is considered Level 1 of the fair value hierarchy, and we applied a discount for lack of marketability of 8.7% which is considered Level 3 of the fair value hierarchy. Hedging Activities When we use derivative instruments, it is generally to reduce our exposure to fluctuations in interest rates and foreign currency exchange rate movements. We have not entered into, and do not plan to enter into, financial instruments for trading or speculative purposes. To manage foreign currency exposure, we have entered into Euro denominated debt and cross-currency swap to hedge the Company's net investment in its Euro functional currency consolidated subsidiaries and the variability in EUR-USD exchange rate. Accounting for changes in the fair value of derivatives depends on the intended use of the derivative and the designation of the derivative, including whether we have elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as foreign currency risk or interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. For derivatives designated as "cash flow" hedges, the change in the fair value of the derivative is initially reported in other comprehensive income ("OCI") in our consolidated statements of comprehensive income (loss) and subsequently reclassified into gain (loss) when the hedged transaction affects earnings, or the hedging relationship is no longer highly effective. We assess the effectiveness of each hedging relationship whenever financial statements are issued, or earnings are reported and at least every three months. During March 2019, the Company entered into the pay-floating, receive-floating interest rate swap whereby the Company pays floating interest on €238.1 million and receives floating interest rate on $270.0 million to hedge the variability of future cash flows attributable to changes in the 1-month USD LIBOR versus EUR LIBOR rates. The pay-floating, receive-floating interest rate swap has an effective date of March 2019 and a maturity date of December 2019 and is recognized in earnings. This interest rate swap effectively converts $270.0 million to €238.1 million debt floating based on the Euribor rate. As of June 30, 2019 , we had borrowings subject to this pay-floating, receive-floating interest rate swap with aggregate principal balances of approximately $270.0 million . See Note 9, "Debt", for additional information. Net Investment Hedges In addition to the $270.0 million borrowings subject to a cross-currency swap discussed above we have €135.0 million and £5.0 million included in our $429.9 million outstanding on our unsecured $1.7 Billion Revolving Credit Facility as of June 30, 2019 . See Note 9. "Debt". These borrowings are designated as, and are effective as, economic hedges of our net investments in foreign entities. Exchange rate variations impact our financial results because the financial results of our foreign subsidiaries are translated to U.S. dollars each period, with the effect of exchange rate variations being recorded in OCI as part of the cumulative foreign currency translation adjustment. As a result, changes in the value of our borrowings under the foreign currency denominated revolver under our $1.7 Billion Revolving Credit Facility and synthetically swapped debt will be reported in the same manner as foreign currency translation adjustments, which are recorded in OCI as part of the cumulative foreign currency translation adjustment. As of June 30, 2019 , our cross-currency swap was a liability of $0.9 million reported in accounts payable and accrued expenses. The following table presents the effect of our derivative financial instruments on our accompanying consolidated financial statements (in millions): For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 Derivatives in Cash Flow Hedging Relationships Cross-Currency Swaps: Amount of gain (loss) recognized in OCI for derivatives $ (3.6 ) $ — (0.9 ) $ — Amount of gain (loss) reclassified from accumulated OCI for derivatives $ — $ — $ — $ — Amount of gain (loss) recognized in earnings $ — $ — $ — $ — During the next 12 months, we estimate that no amounts will be reclassified from "Accumulated OCI" to net income (loss).

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Stockholders' Equity	Stockholders' Equity Capitalization During the first quarter of 2018, the Company entered into sales agreements pursuant to which the Company may issue and sell from time to time shares of its common stock having an aggregate sales price of up to $500.0 million (the "2018 ATM Stock Offering Program"). During the fourth quarter of 2018, the Company entered into sales agreements pursuant to which the Company may issue and sell from time to time shares of its common stock having an aggregate sales price of up to $750.0 million (the "New 2018 ATM Stock Offering Program"). The New 2018 ATM Stock Offering Program replaced the 2018 ATM Stock Offering Program. For the six months ended June 30, 2019 , the Company sold approximately 4.9 million shares of its common stock under its New ATM stock offering programs at an average price of $52.22 , generating net proceeds of approximately $252.2 million after giving effect to sales agent commissions of $2.5 million . As of June 30, 2019 , there was $495.3 million under the New 2018 ATM Stock Offering Program available for future offerings. During the six months ended June 30, 2018 , the Company sold 3.0 million common shares at an average price of $51.24 . At June 30, 2019 , the Company had approximately 113.2 million common shares outstanding. Distributions During each of the six months ended June 30, 2019 and 2018 , regular dividends were paid to our stockholders of $0.92 per common share totaling $101.3 million and $86.6 million , respectively. On July 31, 2019 , the Company announced a cash dividend of $0.50 per common share payable on October 11, 2019 , to stockholders of record at the close of business on September 27, 2019 . Stock Plans The board of directors of CyrusOne Inc. adopted the 2012 Long-Term Incentive Plan ("LTIP"), prior to the IPO, which was amended and restated on May 2, 2016 and February 18, 2019. The LTIP is administered by the compensation committee of the board of directors. Awards issuable under the LTIP include common stock, restricted stock, restricted stock units, stock options and other incentive awards. CyrusOne Inc. has reserved a total of 8.9 million shares of CyrusOne Inc. common stock for issuance pursuant to the LTIP, which may be adjusted for changes in capitalization and certain corporate transactions. To the extent that an award, if forfeitable, expires, terminates or lapses, or an award is otherwise settled in cash without the delivery of shares of common stock to the participant, then any unpaid shares subject to the award will be available for future grant or issuance under the LTIP. The payment of dividend equivalents in cash in conjunction with any outstanding awards will not be counted against the shares available for issuance under the LTIP. The related stock compensation expense incurred by CyrusOne Inc. is allocated to the operating partnership. Shares available under the LTIP as of June 30, 2019 were approximately 4.6 million . Shares vest according to each award agreement and as long as the employee remains employed with the Company. The Company has granted awards with time-based vesting, performance-based vesting and market-based vesting features. Restricted stock units and restricted stock are issued as either time-based (where the award vests ratably over time and is not subject to future performance targets and, accordingly, is initially recorded at the current market price at the time of grant) or performance-based (where the award is recorded at fair value at the time of grant and vesting of the award, if any, is based on achieving certain financial targets, currently based on total shareholder return). The restricted stock units have the right to receive dividend equivalents in cash and holders of restricted stock have the right to receive dividends. The performance-based awards accrue dividends that are payable upon settlement of the award. Expense for time-based grants is recognized under a straight-line method. For grants with a market condition, which is generally a factor outside of the Company's financial performance, such as a market index, expense is recognized under a graded expense attribution method. For grants based solely on the Company's financial performance, expense is recognized under a graded expense attribution method if it is probable that the performance targets will be achieved. Total stock-based compensation expense for the three and six months ended June 30, 2019 was $3.7 million and $8.2 million , respectively, and total stock-based compensation expense for the three and six months ended June 30, 2018 was $4.5 million and $8.4 million , respectively. The following tables present the stock plan activity for the six months ended June 30, 2019 and 2018 for restricted stock units, restricted stock and stock options (performance-based awards are reflected at the target amount of the grant): Restricted Stock Units ("RSU") 2019 2018 Units Weighted Average Grant Date Fair Value Units Weighted Average Grant Date Fair Value Outstanding January 1, 511,049 $ 56.23 265,002 $ 56.08 Granted 391,911 48.50 326,690 51.95 Exercised (130,210 ) 45.37 (87,058 ) 44.28 Forfeited (71,265 ) 53.16 (14,324 ) 54.84 Outstanding June 30, 701,485 $ 54.24 490,310 $ 55.46 Time-based RSUs outstanding 347,600 $ 53.38 246,546 $ 50.72 Performance-based RSUs outstanding 353,885 $ 55.08 243,764 $ 60.25 Restricted Stock ("RS") 2019 2018 Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Outstanding January 1, 419,356 $ 35.73 715,098 $ 32.21 Granted 16,681 52.46 17,052 51.31 Exercised (370,554 ) 35.38 (221,586 ) 27.41 Forfeited (34,603 ) 37.09 (51,197 ) 28.99 Outstanding June 30, 30,880 $ 47.39 459,367 $ 35.59 Time-based RSs outstanding 30,880 $ 47.39 346,802 $ 37.95 Performance-based RSs outstanding — $ — 112,565 $ 28.32 Stock Options 2019 2018 Options Weighted Average Exercise Price Options Weighted Average Exercise Price Outstanding January 1, 401,223 $ 31.96 415,459 $ 31.67 Granted — — — — Exercised (25,586 ) 36.70 (2,788 ) 23.58 Forfeited (551 ) 23.58 — — Outstanding June 30, 375,086 $ 31.64 412,671 $ 31.72 Time-based stock options outstanding 323,101 $ 32.94 348,137 $ 33.23 Performance-based stock options outstanding 51,985 $ 23.58 64,534 $ 23.58

Income (Loss) per Share

Income (Loss) per Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Income (Loss) per Share	Income (Loss) per Share Basic income (loss) per share is calculated using the weighted average number of shares of common stock outstanding during the period. In addition, net income (loss) applicable to participating securities and the participating securities are both excluded from the computation of basic income (loss) per share. Diluted income (loss) per share is calculated using the weighted average number of shares of common stock outstanding during the period, including restricted stock outstanding. If there is net income during the period, the dilutive impact of common stock equivalents outstanding are also reflected. The following table reflects the computation of basic and diluted net income per share for the three and six months ended June 30, 2019 and 2018 : IN MILLIONS, except per share amounts Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Basic Diluted Basic Diluted Basic Diluted Basic Diluted Numerator: Net (loss) income $ (8.5 ) $ (8.5 ) $ 105.9 $ 105.9 $ 80.9 $ 80.9 $ 149.4 $ 149.4 Less: Restricted stock dividends (0.2 ) (0.2 ) (0.3 ) (0.3 ) (0.3 ) (0.3 ) (0.5 ) (0.5 ) Net (loss) income available to stockholders $ (8.7 ) $ (8.7 ) $ 105.6 $ 105.6 $ 80.6 $ 80.6 $ 148.9 $ 148.9 Denominator: Weighted average shares outstanding-basic 113.1 113.1 98.6 98.6 110.7 110.7 97.3 97.3 Performance-based restricted stock and units — 0.8 0.4 0.8 Weighted average shares outstanding-diluted 113.1 99.4 111.1 98.1 EPS: (Loss) income per share-basic $ (0.08 ) $ 1.07 $ 0.73 $ 1.53 Effect of dilutive shares: (Loss) income per share-diluted $ (0.08 ) $ 1.06 $ 0.73 $ 1.52

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company has a strategic partnership with GDS, a developer and operator of high-performance, large-scale data centers in China. In connection with our investment in GDS, the Company entered into an agreement with GDS for the joint marketing of each company's data centers. Also as a part of the agreement, the Company's Chief Executive Officer joined the board of directors of GDS on June 22, 2018. For the six months ended June 30, 2019 , the Company incurred $0.5 million of commission and referral charges and payables to GDS. The Company did not incur any commission or referral charges in the three months ended June 30, 2019. The Company has not recognized any referral revenue related to the agreement with GDS in 2019 or 2018. See Note 7. "Equity Investments" for additional information related to our GDS investment. The Company has a 10% equity interest in ODATA, a Brazilian headquartered company that specializes in providing colocation services to wholesale customers, such as hyperscale cloud providers, financial services and telecommunications companies, and also to enterprises across multiple industries. In connection with these investments, CyrusOne and ODATA entered a commercial agreement covering leasing activity with CyrusOne customers in the ODATA portfolio. Also as a part of the agreement, the Company's Chief Technology Officer joined the ODATA board of directors in October 2018. See Note 7. "Equity Investments" for additional information related to our ODATA investment. During the three months ended June 30, 2019 , the Company made a capital contribution of approximately $0.3 million to ODATA Colombia.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes CyrusOne Inc. elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the "Code"), commencing with its taxable year ended December 31, 2013. To remain qualified as a REIT, the Company is required to distribute at least 90% of its taxable income to its stockholders and meet various other requirements imposed by the Code relating to such matters as operating results, asset holdings, distribution levels and diversity of stock ownership. Provided the Company continues to qualify for taxation as a REIT, the Company is generally not subject to corporate level federal income tax on the earnings distributed currently to its stockholders. It is the Company's policy and intent, subject to change, to distribute 100% of its taxable income and therefore no provision is required in the accompanying financial statements for federal income taxes with regards to activities of CyrusOne Inc. and its subsidiary pass-through entities. CyrusOne Inc. and certain of its subsidiaries are subject to state and local income taxes, franchise taxes, and gross receipts taxes. The Company has elected to treat certain of its subsidiaries as taxable REIT subsidiaries ("TRSs"). The Company's TRSs are subject to U.S. federal, state and local corporate income taxes. The Company's foreign subsidiaries are subject to corporate income taxes in the jurisdictions in which they operate.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies As of June 30, 2019 , the Company had outstanding letters of credit of $8.0 million as security for obligations under the terms of its lease agreements. The Company has entered into non-cancellable contracted commitments for construction of data center facilities and acquisition of equipment. As of June 30, 2019 , these commitments were approximately $268.6 million and are expected to be incurred over the next one to two years . In addition, the Company has entered into equipment and electricity power contracts, which require minimum purchase commitments for power. These agreements range from one to two years and provide for payments for early termination or require minimum payments for the remaining term. As of June 30, 2019 , the minimum commitments for these arrangements were approximately $79.6 million . As of June 30, 2019, the Company has entered into agreements that upon the completion of the shell construction, subject to certain design specifications, requires the Company to enter into leases of land and building shell at two locations in London, UK totaling 157,000 square feet with annual rent totaling £3.0 million for initial lease terms of 20 and 25 years. We expect construction of the shell building to be completed in 2019. During the normal course of business, the Company and its subsidiaries have made certain indemnities and commitments to customers, vendors and associated parties related to the use, protection and security of intellectual property and claims for negligence or willful misconduct. Further, customer contracts generally require specified levels of performance related to uninterrupted service and cooling temperatures. Also, in the normal course of our business, the Company is involved in legal, tax and regulatory proceedings arising from the conduct of its business activities. Management assesses the probability that these performance standards, credits, claims or indemnities have been incurred and liabilities or asset reserves are established for loss contingencies when the losses associated are deemed to be probable and the loss can be reasonably estimated. Based on information currently available, the Company believes that the outcome of such matters will not, individually or in the aggregate, have a material effect on its consolidated financial statements.

Guarantors

Guarantors	6 Months Ended
	Jun. 30, 2019
Condensed Financial Information Disclosure [Abstract]
Guarantors	Guarantors The 2024 Notes and 2027 Notes issued by CyrusOne LP (the "LP Co-Issuer") and CyrusOne Finance Corp. (the "Finance Co-Issuer" and, together with the LP Co-Issuer, the "Co-Issuers") are fully and unconditionally and jointly and severally guaranteed on a senior unsecured basis. The guarantors include CyrusOne Inc. (the "Parent Guarantor"), the General Partner and certain domestic wholly-owned subsidiaries of the Operating Partnership (together with the General Partner, the "Guarantor Subsidiaries"; the Guarantor Subsidiaries together with the Parent Guarantor, the "Guarantors"). As of June 30, 2019 and 2018 , non-guarantors are all of the Company's foreign subsidiaries and certain domestic subsidiaries (collectively, the "Non-Guarantors"). The foreign subsidiaries the Company acquired upon its acquisition of Zenium are classified as Non-Guarantors. The indentures governing the 2024 Notes and 2027 Notes contain affirmative and negative covenants customarily found in indebtedness of this type, including covenants that restrict, subject to certain exceptions, the Company's ability to: incur secured or unsecured indebtedness; pay dividends or distributions on its equity interests, or redeem or repurchase equity interests of the Company; make certain investments or other restricted payments; enter into transactions with affiliates; enter into agreements limiting the ability of the Operating Partnership's subsidiaries to pay dividends or make certain transfers and other payments to the Operating Partnership or to other subsidiaries; sell assets; and merge, consolidate or transfer all or substantially all of the operating partnership's assets. The Company and its subsidiaries are also required to maintain total unencumbered assets of at least 150% of their unsecured debt on a consolidated basis, subject to certain qualifications set forth in the indenture. Notwithstanding the foregoing, the covenants contained in the indentures do not restrict the Company's ability to pay dividends or distributions to stockholders to the extent (i) no default or event of default exists or is continuing under the indentures and (ii) the Company believes in good faith that it qualifies as a REIT under the Code and the payment of such dividend or distribution is necessary either to maintain its status as a REIT or to enable it to avoid payment of any tax that could be avoided by reason of such dividend or distribution. Subject to the provisions of the indentures governing the 2024 Notes and 2027 Notes, in certain circumstances, a Guarantor may be released from its guarantee obligation, including: • upon the sale or other disposition (including by way of consolidation or merger) of such Guarantor or of all of the capital stock of such Guarantor such that such Guarantor is no longer a restricted subsidiary under the indentures, • upon the sale or disposition of all or substantially all of the assets of the Guarantor, • upon the LP Co-issuer designating such Guarantor as an unrestricted subsidiary under the terms of the indentures, • if such Guarantor is no longer a guarantor or other obligor of any other indebtedness of the LP Co-issuer or the Parent Guarantor, • upon the LP Co-issuer designating such Guarantor as an excluded subsidiary under the terms of the indentures, • upon the defeasance or discharge of the 2024 Notes or 2027 Notes, as applicable, in accordance with the terms of the indentures, and • upon the 2024 Notes or 2027 Notes, as applicable, being rated investment grade by at least two rating agencies and no default or event of default shall have occurred and be continuing. The Parent Guarantor is a REIT whose only material asset is its ownership of operating partnership units of the LP Co-Issuer. The LP Co-Issuer and its subsidiaries hold substantially all the assets of the Company. The LP Co-Issuer conducts the operations of the business, along with its subsidiaries. The Finance Co-Issuer does not have any operations or revenues. The Guarantor Subsidiaries include substantially all of the Company's domestic operations and include approximately 83% of its net investment in real estate. The Non-Guarantors include substantially all of the Company's foreign operations, primarily in the United Kingdom, Germany and Singapore. The Non-Guarantors' assets also include the ownership of the Company's equity investment in GDS of $79.0 million and $185.5 million as of June 30, 2019 and December 31, 2018, respectively. The following schedules present the condensed consolidating balance sheets as of June 30, 2019 and December 31, 2018 , and the condensed consolidating statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2019 and 2018, and the statements of cash flows for the six months ended June 30, 2019 and 2018 for the Parent Guarantor, General Partner, each Co-Issuer, Guarantor Subsidiaries, and Non-Guarantors. Eliminations and consolidation adjustments primarily relate to the elimination of investments in subsidiaries and equity earnings (loss) related to investments in subsidiaries (in millions). Condensed Consolidating Balance Sheets As of June 30, 2019 Parent General LP Finance Guarantor Subsidiaries Non- Eliminations/Consolidations Total Total investment in real estate, net $ — $ — $ — $ — $ 3,718.4 $ 725.4 $ 55.8 $ 4,499.6 Cash and cash equivalents — — — — 118.7 25.4 — 144.1 Investment in subsidiaries 2,443.5 17.1 3,326.9 — — — (5,787.5 ) — Rent and other receivables, net — — 0.3 — 241.9 26.2 — 268.4 Restricted cash — — — — — 1.3 — 1.3 Operating lease right-of-use assets, net — — — — 43.2 35.3 — 78.5 Intercompany receivable 16.3 — 1,867.1 — 16.8 — (1,900.2 ) — Equity investments — — — — — 91.9 — 91.9 Goodwill — — — — 455.1 — — 455.1 Intangible assets, net — — — — 166.7 48.6 — 215.3 Other assets — — 0.5 — 95.3 19.7 — 115.5 Total assets $ 2,459.8 $ 17.1 $ 5,194.8 $ — $ 4,856.1 $ 973.8 $ (7,631.9 ) $ 5,869.7 Debt $ — $ — $ 2,713.8 $ — $ — $ — $ — $ 2,713.8 Intercompany payable — — 16.3 — 1,867.1 16.8 (1,900.2 ) — Finance lease liabilities — — — — 4.7 26.9 — 31.6 Operating lease liabilities — — — — 77.5 36.6 — 114.1 Construction costs payable — — — — 102.5 47.0 — 149.5 Accounts payable and accrued expenses — — 21.2 — 83.8 7.8 — 112.8 Dividends payable 53.0 — — — — — — 53.0 Deferred revenue and prepaid rents — — — — 161.1 5.7 — 166.8 Deferred tax liability — — — — — 65.5 — 65.5 Total liabilities 53.0 — 2,751.3 — 2,296.7 206.3 (1,900.2 ) 3,407.1 Total stockholders' equity 2,406.8 17.1 2,443.5 — 2,559.4 767.5 (5,731.7 ) 2,462.6 Total liabilities and equity $ 2,459.8 $ 17.1 $ 5,194.8 $ — $ 4,856.1 $ 973.8 $ (7,631.9 ) $ 5,869.7 As of December 31, 2018 Parent General LP Finance Guarantor Subsidiaries Non- Eliminations/Consolidations Total Total investment in real estate, net $ — $ — $ — $ — $ 3,611.2 $ 644.9 $ 36.9 $ 4,293.0 Cash and cash equivalents — — — — 27.2 37.2 — 64.4 Investment in subsidiaries 2,216.9 22.2 3,122.5 — — — (5,361.6 ) — Rent and other receivables, net — — — — 218.7 16.2 — 234.9 Intercompany receivable 23.2 — 1,761.5 — 6.8 — (1,791.5 ) — Equity investments — — — — — 198.1 — 198.1 Goodwill — — — — 455.1 — — 455.1 Intangible assets, net — — — — 178.1 57.6 — 235.7 Other assets — — 0.5 — 94.4 16.4 — 111.3 Total assets $ 2,240.1 $ 22.2 $ 4,884.5 $ — $ 4,591.5 $ 970.4 $ (7,116.2 ) $ 5,592.5 Debt $ — $ — $ 2,624.7 $ — $ — $ — $ — $ 2,624.7 Intercompany payable — — 23.2 — 1,761.5 6.8 (1,791.5 ) — Finance lease liabilities — — — — 104.0 52.7 — 156.7 Construction costs payable — — — — 175.6 19.7 — 195.3 Accounts payable and accrued expenses — — 19.7 — 95.9 5.7 — 121.3 Dividends payable 51.0 — — — — — — 51.0 Deferred revenue and prepaid rents — — — — 144.9 3.7 — 148.6 Deferred tax liability — — — — — 68.9 — 68.9 Total liabilities 51.0 — 2,667.6 — 2,281.9 157.5 (1,791.5 ) 3,366.5 Total stockholders' equity 2,189.1 22.2 2,216.9 — 2,309.6 812.9 (5,324.7 ) 2,226.0 Total liabilities and equity $ 2,240.1 $ 22.2 $ 4,884.5 $ — $ 4,591.5 $ 970.4 $ (7,116.2 ) $ 5,592.5 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Three Months Ended June 30, 2019 Parent General LP Finance Guarantor Subsidiaries Non- Eliminations/ Consolidations Total Revenue $ — $ — $ — $ — $ 234.9 $ 16.6 $ — $ 251.5 Total operating expenses — — — — 206.1 25.7 — 231.8 Operating income (loss) — — — — 28.8 (9.1 ) — 19.7 Interest expense — — (30.4 ) — — (0.3 ) 9.6 (21.1 ) (Loss) gain on marketable equity investment — — — — — (8.5 ) — (8.5 ) (Loss) income before income taxes — — (30.4 ) — 28.8 (17.9 ) 9.6 (9.9 ) Income tax (expense) benefit — — — — (1.0 ) 2.4 — 1.4 Equity (loss) earnings related to investment in subsidiaries (24.1 ) (0.2 ) 9.0 — — — 15.3 — Net (loss) income (24.1 ) (0.2 ) (21.4 ) — 27.8 (15.5 ) 24.9 (8.5 ) Other comprehensive income — — (2.7 ) — — (3.3 ) — (6.0 ) Comprehensive (loss) income $ (24.1 ) $ (0.2 ) $ (24.1 ) $ — $ 27.8 $ (18.8 ) $ 24.9 $ (14.5 ) Three Months Ended June 30, 2018 Parent General LP Finance Guarantor Subsidiaries Non- Eliminations/Consolidations Total Revenue $ — $ — $ — $ — $ 195.3 $ 1.6 $ — $ 196.9 Total operating expenses — — — — 169.0 0.9 — 169.9 Operating income — — — — 26.3 0.7 — 27.0 Interest expense — — (26.2 ) — — (0.7 ) 4.1 (22.8 ) Gain (loss) on marketable equity investment — — — — — 102.7 — 102.7 Net (loss) income before income taxes — — (26.2 ) — 26.3 102.7 4.1 106.9 Income tax expense — — — — (1.0 ) — — (1.0 ) Equity earnings (loss) related to investment in subsidiaries 101.8 1.0 128.0 — — — (230.8 ) — Net income (loss) 101.8 1.0 101.8 — 25.3 102.7 (226.7 ) 105.9 Other comprehensive income — — — — — — — — Comprehensive income (loss) $ 101.8 $ 1.0 $ 101.8 $ — $ 25.3 $ 102.7 $ (226.7 ) $ 105.9 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Six Months Ended June 30, 2019 Parent General LP Finance Guarantor Subsidiaries Non- Eliminations/ Consolidations Total Revenue $ — $ — $ — $ — $ 444.1 $ 32.4 $ — $ 476.5 Total operating expenses — — — — 395.4 49.6 — 445.0 Operating income (loss) — — — — 48.7 (17.2 ) — 31.5 Interest expense — — (62.9 ) — — (0.7 ) 18.8 (44.8 ) Gain (loss) on marketable equity investment — — — — — 92.7 — 92.7 Other expense — — — — — (0.1 ) — (0.1 ) (Loss) income before income taxes — — (62.9 ) — 48.7 74.7 18.8 79.3 Income tax (expense) benefit — — — — (1.8 ) 3.4 — 1.6 Equity earnings (loss) related to investment in subsidiaries 59.4 0.6 122.3 — — — (182.3 ) — Net income (loss) 59.4 0.6 59.4 — 46.9 78.1 (163.5 ) 80.9 Other comprehensive income — — — — — (2.7 ) — (2.7 ) Comprehensive income (loss) $ 59.4 $ 0.6 $ 59.4 $ — $ 46.9 $ 75.4 $ (163.5 ) $ 78.2 Six Months Ended June 30, 2018 Parent General LP Finance Guarantor Subsidiaries Non- Eliminations/Consolidations Total Revenue $ — $ — $ — $ — $ 390.2 $ 3.3 $ — $ 393.5 Total operating expenses — — — — 336.6 2.2 — 338.8 Operating income — — — — 53.6 1.1 — 54.7 Interest expense — — (50.1 ) — — (1.4 ) 7.9 (43.6 ) Gain (loss) on marketable equity investment — — — — — 143.2 — 143.2 Loss on early extinguishment of debt — — (3.1 ) — — — — (3.1 ) Net (loss) income before income taxes — — (53.2 ) — 53.6 142.9 7.9 151.2 Income tax expense — — — — (1.8 ) — — (1.8 ) Equity earnings (loss) related to investment in subsidiaries 141.6 1.4 194.8 — — — (337.8 ) — Net income (loss) 141.6 1.4 141.6 — 51.8 142.9 (329.9 ) 149.4 Other comprehensive income — — — — — 0.1 — 0.1 Comprehensive income (loss) $ 141.6 $ 1.4 $ 141.6 $ — $ 51.8 $ 143.0 $ (329.9 ) $ 149.5 Condensed Consolidating Statements of Cash Flows Six Months Ended June 30, 2019 Parent Guarantor General Partner LP Co-issuer Finance Co-issuer Guarantor Subsidiaries Non- Guarantors Eliminations/Consolidations Total Net cash (used in) provided by operating activities $ — $ — $ (56.8 ) $ — $ 208.8 $ (3.3 ) $ 18.8 $ 167.5 Cash flows from investing activities: Investment in real estate — — — — (401.3 ) (94.7 ) (18.8 ) (514.8 ) Investment in subsidiaries (252.6 ) (1.8 ) (67.9 ) — — — 322.3 — Equity investments — — — — — (0.3 ) — (0.3 ) Proceeds from sale of equity investments — — — — — 199.8 — 199.8 Return of investment 101.3 — — — — — (101.3 ) — Intercompany borrowings 8.8 — (105.6 ) — 119.3 — (22.5 ) — Net cash (used in) provided by investing activities (142.5 ) (1.8 ) (173.5 ) — (282.0 ) 104.8 179.7 (315.3 ) Cash flows from financing activities: Issuance of common stock, net 252.6 — — — — — — 252.6 Dividends paid (101.3 ) — (101.3 ) — — — 101.3 (101.3 ) Intercompany borrowings — — (8.8 ) — 105.6 (119.3 ) 22.5 — Proceeds from revolving credit facility — — 287.8 — — — — 287.8 Repayments of unsecured term loan — — (200.0 ) — — — — (200.0 ) Payments on finance lease liabilities — — — — (0.6 ) (0.6 ) — (1.2 ) Tax payment upon exercise of equity awards (8.8 ) — — — — — — (8.8 ) Contributions/distributions from parent — 1.8 252.6 — 59.7 8.2 (322.3 ) — Net cash provided by (used in) financing activities 142.5 1.8 230.3 — 164.7 (111.7 ) (198.5 ) 229.1 Effect of exchange rate changes on cash, cash equivalents and restricted cash — — — — — (0.3 ) — (0.3 ) Net increase (decrease) in cash, cash equivalents and restricted cash — — — — 91.5 (10.5 ) — 81.0 Cash, cash equivalents and restricted cash at beginning of period — — — — 27.2 37.2 — 64.4 Cash, cash equivalents and restricted cash at end of period $ — $ — $ — $ — $ 118.7 $ 26.7 $ — $ 145.4 Six Months Ended June 30, 2018 Parent General LP Finance Guarantor Subsidiaries Non- Eliminations/Consolidations Total Net cash (used in) provided by operating activities $ — $ — $ (46.0 ) $ — $ 185.5 $ 1.1 $ 7.9 $ 148.5 Cash flows from investing activities: Investment in real estate — — — — (313.5 ) (1.3 ) (7.9 ) (322.7 ) Investment in subsidiaries (152.2 ) (1.5 ) (154.1 ) — — — 307.8 — Return of investment 86.6 — — — — — (86.6 ) — Intercompany borrowings 4.7 — 56.5 — — — (61.2 ) — Net cash (used in) provided by investing activities (60.9 ) (1.5 ) (97.6 ) — (313.5 ) (1.3 ) 152.1 (322.7 ) Cash flows from financing activities: Issuance of common stock, net 152.2 — — — — — — 152.2 Dividends paid (86.6 ) — (86.6 ) — — — 86.6 (86.6 ) Intercompany borrowings — — (4.7 ) — (56.5 ) — 61.2 — Proceeds from unsecured term loan — — 985.4 — — — — 985.4 Repayments of unsecured term loan — — (902.7 ) — — — — (902.7 ) Payments on finance lease liabilities — — — — (4.2 ) (0.9 ) — (5.1 ) Tax payment upon exercise of equity awards (4.7 ) — — — — — — (4.7 ) Contributions/distributions from parent — 1.5 152.2 — 152.2 1.9 (307.8 ) — Net cash provided by (used in) financing activities 60.9 1.5 143.6 — 91.5 1.0 (160.0 ) 138.5 Net increase (decrease) in cash, cash equivalents and restricted cash — — — — (36.5 ) 0.8 — (35.7 ) Cash, cash equivalents and restricted cash at beginning of period — — — — 151.2 0.7 — 151.9 Cash, cash equivalents and restricted cash at end of period $ — $ — $ — $ — $ 114.7 $ 1.5 $ — $ 116.2

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of the Company, as well as all wholly-owned subsidiaries and any consolidated variable interest entities. All intercompany balances and transactions have been eliminated in consolidation.
Reclassifications	Reclassifications Certain financial information has been revised to conform to the current year presentation due to changes in the significance of the particular activity. The following items have been reclassified: Balance Sheet as of December 31, 2018 • Straight-line rent receivable of $128.7 million included in rent and other receivables was previously included in other assets. Statement of Cash Flows for the period ended June 30, 2018 • The cash flow effect of the change in proceeds from our unsecured term loan of $985.4 million included in proceeds from unsecured term loan was previously included in debt. • The cash flow effect of the change in repayments of our unsecured term loan of $902.7 million included in repayments of unsecured term loan was previously included in debt.
Investment in Real Estate	Investment in Real Estate Acquisition of Properties Investment in real estate consist of land, buildings, improvements and integral equipment utilized in our data center operations. We expect most acquisitions to be an acquisition of assets rather than a business combination as our typical acquisitions consist of properties whereby substantially all the fair value of gross assets acquired is concentrated in a single asset set (land, building and in-place leases), which are treated as asset acquisitions. See Business Combinations and Asset Acquisitions herein.
Business Combinations and Asset Acquisitions	Business Combinations and Asset Acquisitions We evaluate whether an acquisition is a business combination or an asset acquisition by determining whether the set of assets is a business. Asset Acquisitions When substantially all of the fair value of gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets, the transaction is accounted for as an asset acquisition. Asset acquisitions are recorded at the cumulative acquisition costs and allocated to the assets acquired and liabilities assumed on a relative fair value basis. The Company allocates the purchase price of real estate to identifiable tangible assets such as land, building, land improvements and tenant improvements acquired based on their fair value. In estimating the fair value of each component, management considers appraisals, replacement cost, its own analysis of recently acquired and existing comparable properties, market rental data and other related information. Transaction costs associated with asset acquisitions are capitalized. Business Combinations When substantially all of the fair value is not concentrated in a group of similar identifiable assets, the set of assets will generally be considered a business and the Company applies the purchase method for business combinations, where all tangible and identifiable intangible assets acquired and all liabilities assumed are recorded at fair value. Any excess purchase price is recorded as goodwill. Transaction costs associated with business combinations are expensed as incurred. The following discussion applies to our initial determination of fair value and the resulting subsequent accounting which is generally applicable to both asset acquisitions and business combinations. The fair value of any tangible real estate assets acquired is determined by valuing the building as if it were vacant, and the fair value is then allocated to land, buildings, equipment and improvements based on available information including replacement cost, appraisal or using net operating income capitalization rates, discounted cash flow analysis or similar fair value models. We determine in-place lease values based on our evaluation of the specific characteristics of each tenant’s lease agreement and by applying a fair value model. The estimates of fair value of in-place leases include an estimate of carrying costs during the expected lease up periods considering current market conditions. In estimating fair value of in-place leases, we consider items such as real estate taxes, insurance, leasing commissions, tenant improvements and other operating expenses to execute similar leases as well as projected rental revenue and carrying costs during the expected lease up period. We amortize the value of in-place leases acquired to expense over the approximate weighted average remaining term of the leases, adjusted for projected tenant turnover, on a composite basis. We determine the value of above-market and below-market in-place leases for acquired properties based on the present value (using an interest rate that reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) estimates of current market lease rates for the corresponding in-place leases, measured over a period equal to (i) the remaining non-cancellable lease term for above-market leases, or (ii) the remaining non-cancellable lease term plus any renewal options that we consider are reasonably certain that a lessee will execute such renewal option when a lease commences. We record the fair value of above-market and below-market leases as intangible assets or liabilities, and amortize them as an adjustment to revenue over the lease term. We determine the fair value of assumed debt by calculating the net present value of the scheduled debt service payments using current market-based terms for interest rates for debt with similar terms that management believes we could obtain on similar structures and maturities. Any difference between the fair value and stated value of the assumed debt is recorded as a discount or premium and amortized over the remaining term of the loan. In a business combination, we retain the previous lease classification unless there is a lease modification and that modification is not accounted for as a separate new lease. We elected to apply the short-term lease measurement and recognition exemption available under the new accounting standard for leases (discussed below in Note 3. "Recently Adopted Accounting Standards") to leases that have a remaining lease term of 12 months or less at the acquisition date, and accordingly, do not recognize an intangible asset if the terms of an operating lease are favorable relative to market terms, or a liability if the terms are unfavorable relative to
Capitalization of Costs	Capitalization of Costs We capitalize costs directly related to the development, pre-development or improvement of our investment in real estate, referred to as capital projects and other activities included within this paragraph. Costs associated with our capital projects are capitalized as incurred. If the project is abandoned, these costs are expensed during the period in which the project is abandoned. Costs considered for capitalization include, but are not limited to, construction costs, interest, real estate taxes, insurance and utilities, if appropriate. We capitalize indirect costs such as personnel, office and administrative expenses that are directly related to our development projects based on an estimate of the time spent on the construction and development activities. These costs are capitalized only during the period in which activities necessary to ready an asset for its intended use are in progress and such costs are incremental and identifiable to a specific activity to get the asset ready for its intended use. We determine when the capitalization period begins and ends through communication with project and other managers responsible for the tracking and oversight of individual projects. In the event that the activities to ready the asset for its intended use are suspended, the capitalization period will cease until such activities are resumed. In addition, we capitalize incremental initial direct costs incurred for successful origination of new leases which include internal and external leasing commissions. Interest expense is capitalized based on actual qualifying capital expenditures from the period when development commences until the asset is ready for its intended use, at the weighted average borrowing rate during the period. These costs are included in investment in real estate and depreciated over the estimated useful life of the related assets. Costs incurred for maintaining and repairing our properties, which do not extend their useful lives, are expensed as incurred.
Impairment Losses	Impairment Losses
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents include all non-restricted cash held in financial institutions and other non-restricted highly liquid short-term investments with original maturities of three months or less. Restricted cash includes cash equivalents restricted by contract or regulation, including letters of credit.
Equity Investment	Equity Investments We hold investments in various joint ventures where the Company evaluates its ability to influence the operating or financial decisions of the investee in applying the appropriate method of accounting for such investments. Influence tends to be more effective as the investor's percent of ownership in the voting rights of the investee increases. Our equity investments represent less than 20% of the voting rights of the investees and we do not exercise influence over the investee's operating and financial decisions. Accordingly, we do not account for our equity investments using the equity method accounting. For further information about our equity investments, see Note 7. "Equity Investments". Our investment in GDS Holdings Limited ("GDS") is classified as "available for sale" and is carried at fair value.
Revenue Recognition	Revenue Recognition Our revenue consists of lease revenue and revenue from contracts with customers. The Company adopted Accounting Standards Codification (“ASC”) 842, Leases (“ASC 842”), the new accounting standard for leases, effective January 1, 2019 using the modified retrospective approach and prior periods were not restated. In addition, the Company adopted Revenue from Contracts with Customers (“ASC 606”), the new accounting standard for revenue from contracts with customers, effective January 1, 2018 using the modified retrospective approach. See Note 3. “Recently Adopted Accounting Standards” and Note 4. “Revenue Recognition”. Lease Revenue: Our leasing revenue primarily consists of colocation rent, metered power reimbursements and interconnection revenue and is accounted for under ASC 842, Leases. We generally are not entitled to reimbursements for rental expenses including real estate taxes, insurance or other common area operating expenses. a. Colocation Rent Revenue Colocation rent revenues, including interconnection revenue, are fixed minimum lease payments generally billed monthly in advance based on the contracted power or leased space. Some contracts may provide initial free rent periods and rents that escalate over the term of the contract. If rents escalate without the lessee gaining access to or control over additional leased power or space at the beginning of the lease term, the rental payments are recognized as revenue on a straight-line basis over the term of the lease. If rents escalate because the lessee gains access to and control over additional power and or leased space, revenue is recognized in proportion to the additional power or space in the periods that the lessee has control over the use of the additional power or space. The excess of revenue recognized over amounts contractually due is recognized as a straight-line receivable, which is included in rent and other receivables in our consolidated balance sheet. Some of our leases are structured on a gross basis in which the customer pays a fixed amount for colocation space and power. The revenue for these types of leases is recorded in colocation rent revenue. b. Metered Power Reimbursements Revenue Some of our leases provide that the customer is separately billed for power based upon actual or estimated metered usage at rates then in effect. Metered power reimbursement revenue is variable lease payments generally billed one month in arrears, and an estimate of this revenue is accrued in the month that the associated power is provided and recorded in metered power reimbursements revenue. Revenue from Contracts with Customers Managed services, equipment sales, installations and other services are recognized under ASC 606. Equipment sold by us generally consists of servers, switches, networking equipment, cable infrastructure and cabinets. Revenue is recognized at a point-in-time when control of the equipment transfers to the customer from the Company, which generally occurs upon delivery to the customer. Managed services include providing of a full-service managed data center, monitoring customer computer equipment, managing backups and storage, utilization reporting and other related ancillary information technology services. Management service contracts generally range from one to five years . Installation services include mounting, wiring, and testing of customer owned equipment. The installation period is typically short term in duration, and accordingly, revenue from the installation of customer equipment is recognized at a point-in-time once the installation is complete and the performance obligation is satisfied. Other services generally include installation of customer equipment, performing customer system re-boots, server cabinet and cage management, power monitoring, shipping and receiving, resolving technical issues, and other services requested by the customer. Other service revenue is measured based on the consideration specified in the contract and recognized over time as we satisfy the performance obligation.
Rent and Other Receivables	Rent and Other Receivables Receivables consist principally of trade receivables from customers and straight-line rent receivables with estimated credit losses recorded as an allowance for doubtful accounts.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions
Stock-Based Compensation Expense	Stock-Based Compensation We have a stock-based incentive award plan for our employees and directors. Stock-based compensation expense associated with these awards is recognized in general and administrative expenses, property operating expenses, and sales and marketing expenses in our consolidated statements of operations. We measure stock-based compensation at the estimated fair value on the grant date and recognize the amortization of stock-based compensation expense over the requisite service period. Fair value is determined based on assumptions related to volatility, interest rates and the market, and our company performance.
Fair Value Measurements	Fair Value Measurements Fair value measurements are utilized in accounting for business combinations, asset acquisitions, testing of goodwill and other long-lived assets for impairment, recording unrealized gain/loss on available-for-sale securities, derivatives and related disclosures. Fair value of financial and non-financial assets and liabilities is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The three-tier hierarchy that prioritizes certain inputs used in the methodologies of measuring fair value for asset and liabilities, is as follows: Level 1—Observable inputs for identical instruments such as quoted market prices; Level 2—Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs); and Level 3—Unobservable inputs that reflect our determination of assumptions that market participants would use in pricing the asset or liability. These inputs are developed based on the best information available, including our own data.
Derivative Instruments	Derivative Instruments Derivative instruments are measured at fair value and recorded as assets or liabilities, depending on our rights or obligations under the applicable derivative contract. Derivatives that are not designated as hedges must be adjusted to fair value through earnings. For a derivative designated and that qualified as a cash flow hedge, the effective portion of the change in fair value of the derivative is recognized in the condensed consolidated statement of comprehensive income (loss) until the hedged item is recognized in earnings. Any ineffective portion of a derivative's change in fair value is immediately recognized in earnings. For interest rate derivatives, amounts recognized in earnings are reflected in interest expense. For a derivative designated and that qualified as a net investment hedge, the effective portion of the change in the fair value and/or the net settlement of the derivative are reported in the condensed consolidated statement of comprehensive income (loss) as part of the cumulative foreign currency translation adjustment. Any ineffective portion of the change in fair value of the derivative is recognized directly in earnings. Amounts are reclassified out of other comprehensive income (loss) into earnings when the hedged investment is either sold or substantially liquidated.
Recently Adopted Accounting Pronouncements and New Accounting Pronouncements	Leases We adopted ASU 2016-02 (codified in ASC 842, Leases ) on January 1, 2019, applied the package of practical expedients included therein and utilized the modified retrospective transition method with the cumulative effect of transition on the effective date. By applying the modified retrospective transition method, the presentation of financial information for periods prior to January 1, 2019 was not restated. We elected the package of practical expedients, which permits us to not reassess (1) whether any expired or existing contracts are or contain leases, (2) the lease classification for any expired or existing leases, and (3) the treatment of any initial direct costs for any existing leases as of the effective date. We did not elect the hindsight practical expedient, which permits entities to use hindsight in determining the lease term and assessing impairment. As a Lessee The ASU requires that a liability be recorded on the balance sheet for all leases where the reporting entity is a lessee, based on the present value of future lease obligations. A corresponding right-of-use ("ROU") asset will also be recorded. Amortization of the lease obligation and the ROU asset for leases classified as operating leases are on a straight-line basis. Leases classified as financing leases are required to be accounted for as financing arrangements similar to the accounting treatment for capital leases under ASC 840, Leases (the former accounting standard for all leases, ("ASC 840")). We elected the practical expedient to combine our lease and related non-lease components by asset class for our leases. We elected the practical expedient to not evaluate land easements not previously accounted for as leases prior to the entity’s adoption of the new accounting standard for leases. We elected to apply the short-term lease measurement and recognition exemption available for leases under the new accounting standard for leases that have a remaining lease term of 12 months or less. The adoption of ASC 842 had a significant impact on our consolidated balance sheet due to the recognition of approximately $87.0 million of ROU assets and $123.2 million of lease liabilities for operating leases. We recognized a $9.5 million cumulative effect adjustment to retained earnings. The adjustment to retained earnings was driven principally by measurement of operating lease liabilities at the present value of the remaining lease payments at the adoption date of January 1, 2019. The increase was offset in part by impairment of ROU assets associated with one build-to-suit ("BTS") arrangement recognized as an operating lease under the new accounting standard for leases. Additionally, we de-recognized certain previously recognized BTS lease assets and liabilities which under the new accounting standard for leases are recognized as operating lease ROU assets and lease liabilities. Prior to the adoption of the new accounting standard for leases, these leases were accounted as financing arrangements or BTS leases assets and liabilities and recorded as buildings and improvement and lease financing arrangements. The table below reflects the impact of adoption of the lease standard on our consolidated balance sheets as of June 30, 2019 and December 31, 2018 (in millions) related to previously reported BTS leases: Impact to the consolidated balance sheets: As of December 31, 2018 As of June 30, 2019 Buildings and improvements $ 77.4 $ — Operating lease right-of-use assets — 46.9 Finance lease liabilities 123.3 — Operating lease liabilities — 82.1 Prior to the adoption of the new accounting standard for leases, BTS lease assets were amortized over the useful life of the asset and recorded as amortization expense and accretion of BTS lease liability was recorded as an interest expense in consolidated statement of operations. Upon adoption of the new accounting standard for leases, BTS leases are accounted as operating leases and amortization and accretion of lease liabilities of these operating leases are recorded as lease expenses in property operating expenses in our consolidated statement of operations. As a Lessor The accounting for lessors remained largely unchanged from ASC 840. However, the new accounting standard for leases requires that lessors expense certain costs to obtain a lease that are not incremental to origination of a lease. Upon adoption, initial direct cost that are not incremental are expensed as general and administrative expense in our consolidated statements of operations. Prior to the adoption of new standard, these costs were capitalizable. As a result of electing the package of practical expedients, initial direct costs have not been reassessed prior to the effective date and therefore adoption of the lease standard did not have an impact on our previously reported consolidated statements of operations with respect to initial direct costs. In addition, under the new accounting standard for leases, certain exceptions under the previous standard for real estate no longer are applicable in the evaluation of the lease classification as an operating, sales type or direct financing lease. In the event that a real estate lease is classified as sales-type lease, subject to certain conditions, a gain or loss is recognized based on the present value of the lease payments and residual value. We elected the practical expedient to combine all of our lease and nonlease revenue components into a single combined lease component as nonlease components have the same pattern of transfer as the related predominant operating lease components. Our customer leases include options to extend or terminate the lease agreements. We do not generally include extension or termination options in a customer’s lease term for lease classification purposes or for recognizing lease revenue unless we are reasonably certain the customer will exercise these extension or termination options at lease commencement. Revenue from contracts with customers On January 1, 2018, we adopted the Financial Accounting Standards Board ("FASB") pronouncement ASU 2014-09 with respect to revenue recognition. The revised guidance outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and superseded prior revenue recognition guidance, including industry-specific revenue guidance. The revised guidance replaced most existing revenue and real estate sale recognition guidance in GAAP. The standard specifically excludes lease contracts, which is our primary recurring revenue source; however, our revenue accounting for managed services, equipment sales, installations and other services will follow the revised guidance. We adopted the new standard using the modified retrospective transition method, where financial statement presentations prior to the date of adoption are not restated. Transactions that were not closed as of the adoption date were adjusted to reflect the new standard and we recorded an adjustment to beginning retained earnings of $0.3 million . As allowed under GAAP, we have adopted the practical expedient that allows us not to disclose information about remaining performance obligations that have original expected durations of one year or less, the amount of the transaction price allocated to the remaining performance obligations and when we expect to recognize that amount as revenue for the year. We also adopted the "as invoiced" practical expedient, whereby the Company recognizes revenue in the amount that directly corresponds to the amount of value transferred to the customer. Share based payments granted to nonemployees On January 1, 2019, we adopted ASU 2018-07, Compensation-Stock Compensation (Topic 718) which simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under this ASU, the guidance on such payments to nonemployees aligns with the requirements for share-based payments granted to employees. The adoption did not have a significant impact as the Company accounts for its share-based payments. Equity investments On January 1, 2018, we adopted ASU 2016-01 related to equity investments. Equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) are measured at fair value with changes in fair value recognized in net income. Prior to adoption of this update, changes in fair value for available for sale equity investments were recorded in other comprehensive income (loss). The adoption of the new standard was made through a cumulative-effect adjustment to beginning retained earnings of $75.6 million . Changes in Shareholders' Equity In August 2018, the SEC issued Securities Act Release No. 33-10532, Disclosure Update and Simplification, which amends certain of its disclosure requirements and is intended to facilitate the disclosure of information to investors and simplify compliance without significantly altering the total mix of information provided to investors. The amendments became effective on November 5, 2018. Among the amendments is the requirement to present the changes in shareholders' equity in the interim financial statements (either in a separate statement or footnote) for interim periods on Form 10-Q. In accordance with the SEC's rule, the company's first presentation of changes in shareholders’ equity was shown in the Form 10-Q for the quarter ended March 31, 2019. New Accounting Pronouncements Not Yet Adopted In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software, which clarifies the accounting for implementation costs incurred in a hosting arrangement that is a service contract. Capitalization of these implementation costs are accounted for under the same guidance as implementation costs incurred to develop or obtain internal-use software and recorded as a prepaid asset. These capitalized costs are to be expensed ratably over the hosting arrangement term as operating expense, along with the service fees. The guidance is effective for periods beginning after December 15, 2019 and early adoption is allowed. The Company is evaluating the impact of the new standard but does not believe that adoption will have a significant impact on the Company. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement, which changes the fair value measurement disclosure requirements of ASC 820, Fair Value Measurement. The amendments are part of the FASB’s disclosure framework project to improve the effectiveness of disclosures in the notes to the financial statements by facilitating clear communication of the information required by GAAP that is most important to financial statement users and are intended to improve the effectiveness of disclosure requirements on fair value measurement by using those concepts. The guidance is effective for periods beginning after December 15, 2019 and early adoption is allowed. The Company is evaluating the impact of the new standard. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses, providing guidance which requires certain financial assets to be presented at the net amount expected to be collected. The FASB has subsequently issued various amendments to further clarify the scope of the initial guidance. ASU 2016-13 and its related amendments will apply to our trade receivables, notes receivable, net investments in leases and any other future financial assets that have the contractual right to receive cash that we may acquire in the future. FASB further clarified that receivables arising from operating leases are not within the scope of this sub-topic. The guidance is effective for periods beginning January 1, 2020 and early adoption is allowed. We are currently evaluating the impact of the new standard.

Recently Issued Accounting St_2

Recently Issued Accounting Standards (Tables)	6 Months Ended
	Jun. 30, 2019
Accounting Changes and Error Corrections [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The table below reflects the impact of adoption of the lease standard on our consolidated balance sheets as of June 30, 2019 and December 31, 2018 (in millions) related to previously reported BTS leases: Impact to the consolidated balance sheets: As of December 31, 2018 As of June 30, 2019 Buildings and improvements $ 77.4 $ — Operating lease right-of-use assets — 46.9 Finance lease liabilities 123.3 — Operating lease liabilities — 82.1

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Lessor, Operating Lease, Payments to be Received, Maturity	The future minimum lease payments to be received under non-cancellable operating leases, excluding month-to-month arrangements and metered power reimbursements are shown below (in millions): For the Period Ended June 30, 2019 Minimum Lease Payments 2019 $ 363.6 2020 679.7 2021 577.3 2022 486.0 2023 395.4 2024 307.3 Thereafter 953.8 Total $ 3,763.1
Schedule Of Future Minimum Lease Payments To Be Received Under Operating Leases	The future minimum lease payments to be received under non-cancellable operating leases, excluding month-to-month arrangements and metered power reimbursements are shown below (in millions): For the Period Ended December 31, 2018 Minimum Lease Payments 2019 $ 647.6 2020 553.7 2021 453.0 2022 365.5 2023 284.4 Thereafter 835.9 Total $ 3,140.1
Disaggregation of Revenue	For the three and six months ended June 30, 2019 , revenue disaggregated by primary revenue stream is as follows (in millions): Lease Revenue Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Colocation (Minimum lease payments) $ 197.3 $ 385.6 Meter power reimbursements (Variable lease payments) 31.7 60.3 Total Lease revenue $ 229.0 $ 445.9 For the three and six months ended June 30, 2019 and 2018, revenue disaggregated by primary revenue stream is as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, Revenue from contracts with customers 2019 2018 2019 2018 Equipment sales and services $ 17.1 $ 2.4 $ 21.1 8.2 Other revenue 5.4 4.4 9.5 8.4 Total Revenue from contracts with customers $ 22.5 $ 6.8 $ 30.6 $ 16.6

Leases - As a Lessee (Tables)

Leases - As a Lessee (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Lease, Cost	The components of lease expense is as follows (in millions): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease cost $ 4.6 $ 9.6 Finance lease cost: Amortization of assets 0.6 1.1 Interest on lease liabilities 0.4 0.9 Total net lease cost $ 5.6 $ 11.6 Supplemental cash flow and other information related to leases is as follows (in millions): Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9.8 Operating cash flows from finance leases 0.9 Financing cash flows from finance leases 1.2 Non-cash right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 85.7
Assets And Liabilities, Lessee	Supplemental balance sheet information related to leases is as follows (in millions, except lease term and discount rate): June 30, 2019 Operating leases: Operating lease right-of-use assets $ 78.5 Operating lease liabilities $ 114.1 Finance leases: Property and equipment, at cost $ 33.1 Accumulated amortization (3.8 ) Property and equipment, net $ 29.3 Finance lease liabilities $ 31.6 Weighted average remaining lease term (in years): Operating leases 12.2 Finance leases 18.1 Weighted average discount rate: Operating leases 4.5 % Finance leases 5.1 %
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities were as follows (in millions): As of June 30, 2019 Operating Leases Finance Leases 2019 $ 10.2 $ 2.1 2020 19.5 4.2 2021 15.3 4.1 2022 15.7 2.9 2023 11.9 1.8 2024 7.6 1.4 Thereafter 70.4 29.9 Total lease payments $ 150.6 $ 46.4 Less: Imputed interest (36.5 ) (14.8 ) Total lease obligations $ 114.1 $ 31.6
Schedule of Future Minimum Rental Payments for Operating Leases	The following table summarizes aggregate minimum principal payments of the finance lease obligations and future minimum lease payments required under operating leases for the five years subsequent to December 31, 2018, and thereafter (in millions): Operating Leases Finance Leases 2019 $ 5.0 $ 2.7 2020 4.9 2.8 2021 3.7 2.9 2022 3.7 2.0 2023 3.5 1.0 Thereafter 43.4 22.0 Total lease payments $ 64.2 $ 33.4
Schedule of Future Minimum Lease Payments for Capital Leases	The following table summarizes aggregate minimum principal payments of the finance lease obligations and future minimum lease payments required under operating leases for the five years subsequent to December 31, 2018, and thereafter (in millions): Operating Leases Finance Leases 2019 $ 5.0 $ 2.7 2020 4.9 2.8 2021 3.7 2.9 2022 3.7 2.0 2023 3.5 1.0 Thereafter 43.4 22.0 Total lease payments $ 64.2 $ 33.4
Finance Lease, Liability, Maturity	Maturities of lease liabilities were as follows (in millions): As of June 30, 2019 Operating Leases Finance Leases 2019 $ 10.2 $ 2.1 2020 19.5 4.2 2021 15.3 4.1 2022 15.7 2.9 2023 11.9 1.8 2024 7.6 1.4 Thereafter 70.4 29.9 Total lease payments $ 150.6 $ 46.4 Less: Imputed interest (36.5 ) (14.8 ) Total lease obligations $ 114.1 $ 31.6

Investment in Real Estate (Tabl

Investment in Real Estate (Tables)	6 Months Ended
	Jun. 30, 2019
Real Estate [Abstract]
Schedule of Major Components of Real Estate Investments and Intangibles	As of June 30, 2019 and December 31, 2018 , major components of our real estate investments and intangible assets, and related accumulated depreciation and amortization, are as follows (in millions): June 30, 2019 December 31, 2018 Investment in Real Estate Intangible Assets Investment in Real Estate Intangible Assets Buildings and Improvements Equipment Customer Relationships In Place Leases Other Contract Intangible Assets Buildings and Improvements Equipment Customer Relationships In Place Leases Other Contract Intangible Assets Cost $ 1,689.7 $ 2,869.7 $ 247.1 $ 135.9 $ 19.3 $ 1,677.5 $ 2,630.2 $ 247.1 $ 136.0 $ 19.5 Less: accumulated depreciation and amortization (504.0 ) (703.4 ) (144.5 ) (33.7 ) (8.8 ) (481.8 ) (572.7 ) (137.9 ) (21.1 ) (7.9 ) Net $ 1,185.7 $ 2,166.3 $ 102.6 $ 102.2 $ 10.5 $ 1,195.7 $ 2,057.5 $ 109.2 $ 114.9 $ 11.6
Schedule Of Useful Lives	Depreciation and amortization are calculated using the straight-line method over the useful lives of the assets. The typical life of owned assets are as follows: Buildings 30 years Building improvements 30 years Equipment 20 years

Equity Investment (Tables)

Equity Investment (Tables)	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Unrealized Gain (Loss) on Investments	IN MILLIONS Three months ended June 30, 2019 Six months ended June 30, 2019 Net (loss) gain on marketable equity investments $ (8.5 ) $ 92.7 Less: Net (loss) gain recognized on marketable equity investments sold (5.3 ) 66.9 Unrealized (loss) gain on marketable equity investment held as of June 30, 2019 $ (3.2 ) $ 25.8

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	As of June 30, 2019 and December 31, 2018 , the components of other assets are as follows (in millions): June 30, 2019 December 31, 2018 Deferred leasing and other contract costs $ 44.2 $ 43.6 Prepaid expenses 26.8 26.4 Non-real estate assets, net 18.9 18.4 Other assets 25.6 22.9 Total $ 115.5 $ 111.3

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	As of June 30, 2019 and December 31, 2018 , the components of debt are as follows (unless otherwise noted, interest rate and maturity date information are as of June 30, 2019 ) (in millions): June 30, 2019 December 31, 2018 Interest Rate (a) Maturity Date $3.0 Billion Credit Facility: $1.7 Billion Revolving Credit Facility: March 2022 (b) US Revolver $ 270.0 $ — Monthly LIBOR + 1.55% EUR Revolver 153.5 143.0 Monthly EURIBOR + 1.55% GBP Revolver 6.4 — Monthly LIBOR + 1.55% 2023 Term Loan 800.0 1,000.0 Monthly LIBOR + 1.50% March 2023 2025 Term Loan 300.0 300.0 Monthly LIBOR + 1.80% March 2025 2024 Notes, including bond premium of $4.9 million 704.9 705.5 5.000 % March 2024 2027 Notes, including bond premium of $8.4 million 508.4 509.1 5.375 % March 2027 Deferred financing costs (29.4 ) (32.9 ) — — Total $ 2,713.8 $ 2,624.7 (a) - Monthly LIBOR as of June 30, 2019 was 2.41% . (b) - The Company may exercise a one-year extension option, subject to certain conditions.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Carrying Value and Fair Value of Other Financial Instruments	The carrying value and fair value of other financial instruments are as follows (in millions): June 30, 2019 December 31, 2018 Carrying Value Fair Value Carrying Value Fair Value 2024 Notes $ 704.9 $ 720.1 $ 705.5 $ 684.1 2027 Notes 508.4 528.8 509.1 488.0 GDS Equity investment 79.0 79.0 185.5 185.5
Schedule of Derivative Instruments	The following table presents the effect of our derivative financial instruments on our accompanying consolidated financial statements (in millions): For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 Derivatives in Cash Flow Hedging Relationships Cross-Currency Swaps: Amount of gain (loss) recognized in OCI for derivatives $ (3.6 ) $ — (0.9 ) $ — Amount of gain (loss) reclassified from accumulated OCI for derivatives $ — $ — $ — $ — Amount of gain (loss) recognized in earnings $ — $ — $ — $ —

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Restricted Stock and Restricted Stock Units Activity	The following tables present the stock plan activity for the six months ended June 30, 2019 and 2018 for restricted stock units, restricted stock and stock options (performance-based awards are reflected at the target amount of the grant): Restricted Stock Units ("RSU") 2019 2018 Units Weighted Average Grant Date Fair Value Units Weighted Average Grant Date Fair Value Outstanding January 1, 511,049 $ 56.23 265,002 $ 56.08 Granted 391,911 48.50 326,690 51.95 Exercised (130,210 ) 45.37 (87,058 ) 44.28 Forfeited (71,265 ) 53.16 (14,324 ) 54.84 Outstanding June 30, 701,485 $ 54.24 490,310 $ 55.46 Time-based RSUs outstanding 347,600 $ 53.38 246,546 $ 50.72 Performance-based RSUs outstanding 353,885 $ 55.08 243,764 $ 60.25 Restricted Stock ("RS") 2019 2018 Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Outstanding January 1, 419,356 $ 35.73 715,098 $ 32.21 Granted 16,681 52.46 17,052 51.31 Exercised (370,554 ) 35.38 (221,586 ) 27.41 Forfeited (34,603 ) 37.09 (51,197 ) 28.99 Outstanding June 30, 30,880 $ 47.39 459,367 $ 35.59 Time-based RSs outstanding 30,880 $ 47.39 346,802 $ 37.95 Performance-based RSs outstanding — $ — 112,565 $ 28.32
Schedule of Stock Option Activity	Stock Options 2019 2018 Options Weighted Average Exercise Price Options Weighted Average Exercise Price Outstanding January 1, 401,223 $ 31.96 415,459 $ 31.67 Granted — — — — Exercised (25,586 ) 36.70 (2,788 ) 23.58 Forfeited (551 ) 23.58 — — Outstanding June 30, 375,086 $ 31.64 412,671 $ 31.72 Time-based stock options outstanding 323,101 $ 32.94 348,137 $ 33.23 Performance-based stock options outstanding 51,985 $ 23.58 64,534 $ 23.58

Income (Loss) per Share (Tables

Income (Loss) per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Income (Loss) per Share	The following table reflects the computation of basic and diluted net income per share for the three and six months ended June 30, 2019 and 2018 : IN MILLIONS, except per share amounts Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Basic Diluted Basic Diluted Basic Diluted Basic Diluted Numerator: Net (loss) income $ (8.5 ) $ (8.5 ) $ 105.9 $ 105.9 $ 80.9 $ 80.9 $ 149.4 $ 149.4 Less: Restricted stock dividends (0.2 ) (0.2 ) (0.3 ) (0.3 ) (0.3 ) (0.3 ) (0.5 ) (0.5 ) Net (loss) income available to stockholders $ (8.7 ) $ (8.7 ) $ 105.6 $ 105.6 $ 80.6 $ 80.6 $ 148.9 $ 148.9 Denominator: Weighted average shares outstanding-basic 113.1 113.1 98.6 98.6 110.7 110.7 97.3 97.3 Performance-based restricted stock and units — 0.8 0.4 0.8 Weighted average shares outstanding-diluted 113.1 99.4 111.1 98.1 EPS: (Loss) income per share-basic $ (0.08 ) $ 1.07 $ 0.73 $ 1.53 Effect of dilutive shares: (Loss) income per share-diluted $ (0.08 ) $ 1.06 $ 0.73 $ 1.52

Guarantors (Tables)

Guarantors (Tables)	6 Months Ended
	Jun. 30, 2019
Condensed Financial Information Disclosure [Abstract]
Consolidating Balance Sheets	Condensed Consolidating Balance Sheets As of June 30, 2019 Parent General LP Finance Guarantor Subsidiaries Non- Eliminations/Consolidations Total Total investment in real estate, net $ — $ — $ — $ — $ 3,718.4 $ 725.4 $ 55.8 $ 4,499.6 Cash and cash equivalents — — — — 118.7 25.4 — 144.1 Investment in subsidiaries 2,443.5 17.1 3,326.9 — — — (5,787.5 ) — Rent and other receivables, net — — 0.3 — 241.9 26.2 — 268.4 Restricted cash — — — — — 1.3 — 1.3 Operating lease right-of-use assets, net — — — — 43.2 35.3 — 78.5 Intercompany receivable 16.3 — 1,867.1 — 16.8 — (1,900.2 ) — Equity investments — — — — — 91.9 — 91.9 Goodwill — — — — 455.1 — — 455.1 Intangible assets, net — — — — 166.7 48.6 — 215.3 Other assets — — 0.5 — 95.3 19.7 — 115.5 Total assets $ 2,459.8 $ 17.1 $ 5,194.8 $ — $ 4,856.1 $ 973.8 $ (7,631.9 ) $ 5,869.7 Debt $ — $ — $ 2,713.8 $ — $ — $ — $ — $ 2,713.8 Intercompany payable — — 16.3 — 1,867.1 16.8 (1,900.2 ) — Finance lease liabilities — — — — 4.7 26.9 — 31.6 Operating lease liabilities — — — — 77.5 36.6 — 114.1 Construction costs payable — — — — 102.5 47.0 — 149.5 Accounts payable and accrued expenses — — 21.2 — 83.8 7.8 — 112.8 Dividends payable 53.0 — — — — — — 53.0 Deferred revenue and prepaid rents — — — — 161.1 5.7 — 166.8 Deferred tax liability — — — — — 65.5 — 65.5 Total liabilities 53.0 — 2,751.3 — 2,296.7 206.3 (1,900.2 ) 3,407.1 Total stockholders' equity 2,406.8 17.1 2,443.5 — 2,559.4 767.5 (5,731.7 ) 2,462.6 Total liabilities and equity $ 2,459.8 $ 17.1 $ 5,194.8 $ — $ 4,856.1 $ 973.8 $ (7,631.9 ) $ 5,869.7 As of December 31, 2018 Parent General LP Finance Guarantor Subsidiaries Non- Eliminations/Consolidations Total Total investment in real estate, net $ — $ — $ — $ — $ 3,611.2 $ 644.9 $ 36.9 $ 4,293.0 Cash and cash equivalents — — — — 27.2 37.2 — 64.4 Investment in subsidiaries 2,216.9 22.2 3,122.5 — — — (5,361.6 ) — Rent and other receivables, net — — — — 218.7 16.2 — 234.9 Intercompany receivable 23.2 — 1,761.5 — 6.8 — (1,791.5 ) — Equity investments — — — — — 198.1 — 198.1 Goodwill — — — — 455.1 — — 455.1 Intangible assets, net — — — — 178.1 57.6 — 235.7 Other assets — — 0.5 — 94.4 16.4 — 111.3 Total assets $ 2,240.1 $ 22.2 $ 4,884.5 $ — $ 4,591.5 $ 970.4 $ (7,116.2 ) $ 5,592.5 Debt $ — $ — $ 2,624.7 $ — $ — $ — $ — $ 2,624.7 Intercompany payable — — 23.2 — 1,761.5 6.8 (1,791.5 ) — Finance lease liabilities — — — — 104.0 52.7 — 156.7 Construction costs payable — — — — 175.6 19.7 — 195.3 Accounts payable and accrued expenses — — 19.7 — 95.9 5.7 — 121.3 Dividends payable 51.0 — — — — — — 51.0 Deferred revenue and prepaid rents — — — — 144.9 3.7 — 148.6 Deferred tax liability — — — — — 68.9 — 68.9 Total liabilities 51.0 — 2,667.6 — 2,281.9 157.5 (1,791.5 ) 3,366.5 Total stockholders' equity 2,189.1 22.2 2,216.9 — 2,309.6 812.9 (5,324.7 ) 2,226.0 Total liabilities and equity $ 2,240.1 $ 22.2 $ 4,884.5 $ — $ 4,591.5 $ 970.4 $ (7,116.2 ) $ 5,592.5
Consolidating Statements of Operations and Comprehensive Income (Loss)	Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Three Months Ended June 30, 2019 Parent General LP Finance Guarantor Subsidiaries Non- Eliminations/ Consolidations Total Revenue $ — $ — $ — $ — $ 234.9 $ 16.6 $ — $ 251.5 Total operating expenses — — — — 206.1 25.7 — 231.8 Operating income (loss) — — — — 28.8 (9.1 ) — 19.7 Interest expense — — (30.4 ) — — (0.3 ) 9.6 (21.1 ) (Loss) gain on marketable equity investment — — — — — (8.5 ) — (8.5 ) (Loss) income before income taxes — — (30.4 ) — 28.8 (17.9 ) 9.6 (9.9 ) Income tax (expense) benefit — — — — (1.0 ) 2.4 — 1.4 Equity (loss) earnings related to investment in subsidiaries (24.1 ) (0.2 ) 9.0 — — — 15.3 — Net (loss) income (24.1 ) (0.2 ) (21.4 ) — 27.8 (15.5 ) 24.9 (8.5 ) Other comprehensive income — — (2.7 ) — — (3.3 ) — (6.0 ) Comprehensive (loss) income $ (24.1 ) $ (0.2 ) $ (24.1 ) $ — $ 27.8 $ (18.8 ) $ 24.9 $ (14.5 ) Three Months Ended June 30, 2018 Parent General LP Finance Guarantor Subsidiaries Non- Eliminations/Consolidations Total Revenue $ — $ — $ — $ — $ 195.3 $ 1.6 $ — $ 196.9 Total operating expenses — — — — 169.0 0.9 — 169.9 Operating income — — — — 26.3 0.7 — 27.0 Interest expense — — (26.2 ) — — (0.7 ) 4.1 (22.8 ) Gain (loss) on marketable equity investment — — — — — 102.7 — 102.7 Net (loss) income before income taxes — — (26.2 ) — 26.3 102.7 4.1 106.9 Income tax expense — — — — (1.0 ) — — (1.0 ) Equity earnings (loss) related to investment in subsidiaries 101.8 1.0 128.0 — — — (230.8 ) — Net income (loss) 101.8 1.0 101.8 — 25.3 102.7 (226.7 ) 105.9 Other comprehensive income — — — — — — — — Comprehensive income (loss) $ 101.8 $ 1.0 $ 101.8 $ — $ 25.3 $ 102.7 $ (226.7 ) $ 105.9 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Six Months Ended June 30, 2019 Parent General LP Finance Guarantor Subsidiaries Non- Eliminations/ Consolidations Total Revenue $ — $ — $ — $ — $ 444.1 $ 32.4 $ — $ 476.5 Total operating expenses — — — — 395.4 49.6 — 445.0 Operating income (loss) — — — — 48.7 (17.2 ) — 31.5 Interest expense — — (62.9 ) — — (0.7 ) 18.8 (44.8 ) Gain (loss) on marketable equity investment — — — — — 92.7 — 92.7 Other expense — — — — — (0.1 ) — (0.1 ) (Loss) income before income taxes — — (62.9 ) — 48.7 74.7 18.8 79.3 Income tax (expense) benefit — — — — (1.8 ) 3.4 — 1.6 Equity earnings (loss) related to investment in subsidiaries 59.4 0.6 122.3 — — — (182.3 ) — Net income (loss) 59.4 0.6 59.4 — 46.9 78.1 (163.5 ) 80.9 Other comprehensive income — — — — — (2.7 ) — (2.7 ) Comprehensive income (loss) $ 59.4 $ 0.6 $ 59.4 $ — $ 46.9 $ 75.4 $ (163.5 ) $ 78.2 Six Months Ended June 30, 2018 Parent General LP Finance Guarantor Subsidiaries Non- Eliminations/Consolidations Total Revenue $ — $ — $ — $ — $ 390.2 $ 3.3 $ — $ 393.5 Total operating expenses — — — — 336.6 2.2 — 338.8 Operating income — — — — 53.6 1.1 — 54.7 Interest expense — — (50.1 ) — — (1.4 ) 7.9 (43.6 ) Gain (loss) on marketable equity investment — — — — — 143.2 — 143.2 Loss on early extinguishment of debt — — (3.1 ) — — — — (3.1 ) Net (loss) income before income taxes — — (53.2 ) — 53.6 142.9 7.9 151.2 Income tax expense — — — — (1.8 ) — — (1.8 ) Equity earnings (loss) related to investment in subsidiaries 141.6 1.4 194.8 — — — (337.8 ) — Net income (loss) 141.6 1.4 141.6 — 51.8 142.9 (329.9 ) 149.4 Other comprehensive income — — — — — 0.1 — 0.1 Comprehensive income (loss) $ 141.6 $ 1.4 $ 141.6 $ — $ 51.8 $ 143.0 $ (329.9 ) $ 149.5
Consolidating Statements of Cash Flows	Condensed Consolidating Statements of Cash Flows Six Months Ended June 30, 2019 Parent Guarantor General Partner LP Co-issuer Finance Co-issuer Guarantor Subsidiaries Non- Guarantors Eliminations/Consolidations Total Net cash (used in) provided by operating activities $ — $ — $ (56.8 ) $ — $ 208.8 $ (3.3 ) $ 18.8 $ 167.5 Cash flows from investing activities: Investment in real estate — — — — (401.3 ) (94.7 ) (18.8 ) (514.8 ) Investment in subsidiaries (252.6 ) (1.8 ) (67.9 ) — — — 322.3 — Equity investments — — — — — (0.3 ) — (0.3 ) Proceeds from sale of equity investments — — — — — 199.8 — 199.8 Return of investment 101.3 — — — — — (101.3 ) — Intercompany borrowings 8.8 — (105.6 ) — 119.3 — (22.5 ) — Net cash (used in) provided by investing activities (142.5 ) (1.8 ) (173.5 ) — (282.0 ) 104.8 179.7 (315.3 ) Cash flows from financing activities: Issuance of common stock, net 252.6 — — — — — — 252.6 Dividends paid (101.3 ) — (101.3 ) — — — 101.3 (101.3 ) Intercompany borrowings — — (8.8 ) — 105.6 (119.3 ) 22.5 — Proceeds from revolving credit facility — — 287.8 — — — — 287.8 Repayments of unsecured term loan — — (200.0 ) — — — — (200.0 ) Payments on finance lease liabilities — — — — (0.6 ) (0.6 ) — (1.2 ) Tax payment upon exercise of equity awards (8.8 ) — — — — — — (8.8 ) Contributions/distributions from parent — 1.8 252.6 — 59.7 8.2 (322.3 ) — Net cash provided by (used in) financing activities 142.5 1.8 230.3 — 164.7 (111.7 ) (198.5 ) 229.1 Effect of exchange rate changes on cash, cash equivalents and restricted cash — — — — — (0.3 ) — (0.3 ) Net increase (decrease) in cash, cash equivalents and restricted cash — — — — 91.5 (10.5 ) — 81.0 Cash, cash equivalents and restricted cash at beginning of period — — — — 27.2 37.2 — 64.4 Cash, cash equivalents and restricted cash at end of period $ — $ — $ — $ — $ 118.7 $ 26.7 $ — $ 145.4 Six Months Ended June 30, 2018 Parent General LP Finance Guarantor Subsidiaries Non- Eliminations/Consolidations Total Net cash (used in) provided by operating activities $ — $ — $ (46.0 ) $ — $ 185.5 $ 1.1 $ 7.9 $ 148.5 Cash flows from investing activities: Investment in real estate — — — — (313.5 ) (1.3 ) (7.9 ) (322.7 ) Investment in subsidiaries (152.2 ) (1.5 ) (154.1 ) — — — 307.8 — Return of investment 86.6 — — — — — (86.6 ) — Intercompany borrowings 4.7 — 56.5 — — — (61.2 ) — Net cash (used in) provided by investing activities (60.9 ) (1.5 ) (97.6 ) — (313.5 ) (1.3 ) 152.1 (322.7 ) Cash flows from financing activities: Issuance of common stock, net 152.2 — — — — — — 152.2 Dividends paid (86.6 ) — (86.6 ) — — — 86.6 (86.6 ) Intercompany borrowings — — (4.7 ) — (56.5 ) — 61.2 — Proceeds from unsecured term loan — — 985.4 — — — — 985.4 Repayments of unsecured term loan — — (902.7 ) — — — — (902.7 ) Payments on finance lease liabilities — — — — (4.2 ) (0.9 ) — (5.1 ) Tax payment upon exercise of equity awards (4.7 ) — — — — — — (4.7 ) Contributions/distributions from parent — 1.5 152.2 — 152.2 1.9 (307.8 ) — Net cash provided by (used in) financing activities 60.9 1.5 143.6 — 91.5 1.0 (160.0 ) 138.5 Net increase (decrease) in cash, cash equivalents and restricted cash — — — — (36.5 ) 0.8 — (35.7 ) Cash, cash equivalents and restricted cash at beginning of period — — — — 151.2 0.7 — 151.9 Cash, cash equivalents and restricted cash at end of period $ — $ — $ — $ — $ 114.7 $ 1.5 $ — $ 116.2

Description of Business (Detail

Description of Business (Details)	Jun. 30, 2019data_center
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of data operating centers	49

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Summary Of Significant Accounting Policies [Line Items]
Asset impairments and loss on disposals	$ 0	$ 0	$ 0	$ 0
Rent and other receivables, net	$ 268,400,000		268,400,000		$ 234,900,000
Proceeds from unsecured term loan			0	985,400,000
Repayments of unsecured term loan			$ 200,000,000	902,700,000
Minimum
Summary Of Significant Accounting Policies [Line Items]
Management service contracts, term			1 year
Maximum
Summary Of Significant Accounting Policies [Line Items]
Management service contracts, term			5 years
Restatement Adjustment
Summary Of Significant Accounting Policies [Line Items]
Rent and other receivables, net					$ 128,700,000
Proceeds from unsecured term loan				985,400,000
Repayments of unsecured term loan				$ 902,700,000

Recently Issued Accounting St_3

Recently Issued Accounting Standards (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit	$ (613)		$ (600.2)
Buildings and improvements	1,689.7		1,677.5
Operating lease right-of-use assets, net	78.5		0
Operating lease liabilities	114.1		0
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of accounting standards		$ 9.5
Operating lease right-of-use assets, net		87
Operating lease liabilities		123.2
Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of accounting standards				$ 0.3
Accounting Standards Update 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of accounting standards				0
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit				0.3
Accumulated Deficit | Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of accounting standards		$ 9.5
Accumulated Deficit | Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of accounting standards				0.3
Accumulated Deficit | Accounting Standards Update 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of accounting standards				$ 75.6
Build-To-Suit Lease
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Buildings and improvements			77.4
Finance lease liabilities			$ 123.3
Build-To-Suit Lease | Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets, net	46.9
Operating lease liabilities	$ 82.1

Revenue Recognition - Minimum L

Revenue Recognition - Minimum Lease Payments to be Received (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
2019	$ 363.6
2020	679.7
2021	577.3
2022	486
2023	395.4
2024	307.3
Thereafter	953.8
Total	$ 3,763.1
Operating Leases, Future Minimum Payments Receivable [Abstract]
2019		$ 647.6
2020		553.7
2021		453
2022		365.5
2023		284.4
Thereafter		835.9
Total		$ 3,140.1

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Total Revenue from contracts with customers	$ 251.5	$ 196.9	$ 476.5	$ 393.5
Total Lease revenue
Disaggregation of Revenue [Line Items]
Total Revenue from contracts with customers	229		445.9
Colocation (Minimum lease payments)
Disaggregation of Revenue [Line Items]
Total Revenue from contracts with customers	197.3		385.6
Meter power reimbursements (Variable lease payments)
Disaggregation of Revenue [Line Items]
Total Revenue from contracts with customers	31.7		60.3
Total Revenue from contracts with customers
Disaggregation of Revenue [Line Items]
Total Revenue from contracts with customers	22.5	6.8	30.6	16.6
Equipment sales and services
Disaggregation of Revenue [Line Items]
Total Revenue from contracts with customers	17.1	2.4	21.1	8.2
Other revenue
Disaggregation of Revenue [Line Items]
Total Revenue from contracts with customers	5.4	4.4	9.5	8.4
Managed Services
Disaggregation of Revenue [Line Items]
Total Revenue from contracts with customers	$ 4.3	$ 3.2	$ 7.7	$ 6.4

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Accounts receivable	$ 6		$ 9.4
Contract assets	$ 2.9
Revenue | Customer Concentration Risk | One Customer
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Concentration risk, percentage	22.00%	19.00%

Leases - As a Lessee - Addition

Leases - As a Lessee - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)facility	Dec. 31, 2018USD ($)
Lessee, Lease, Description [Line Items]
Number of facilities, finance lease	4
Number of facilities, operating lease	14
Operating lease liabilities | $	$ 114.1	$ 0
Minimum
Lessee, Lease, Description [Line Items]
Finance lease, remaining term of contract	2 years
Operating lease, term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Finance lease, remaining term of contract	22 years
Operating lease, term of contract	17 years
Data Center
Lessee, Lease, Description [Line Items]
Number of facilities, operating lease	10
Office
Lessee, Lease, Description [Line Items]
Number of facilities, operating lease	4
Leaseholds and Leasehold Improvements
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	12 years
Operating lease liabilities | $	$ 22.2

Leases - As a Lessee - Lease Co

Leases - As a Lessee - Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Operating lease cost	$ 4.6	$ 9.6
Amortization of assets	0.6	1.1
Interest on lease liabilities	0.4	0.9
Total net lease cost	$ 5.6	$ 11.6

Leases - As a Lessee - Suppleme

Leases - As a Lessee - Supplemental Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Operating leases:
Operating lease right-of-use assets, net	$ 78.5	$ 0
Operating lease liabilities	114.1	0
Finance leases:
Property and equipment, at cost	33.1
Accumulated amortization	(3.8)
Property and equipment, net	29.3
Finance lease liabilities	$ 31.6	$ 156.7
Weighted average remaining lease term (in years):
Operating leases	12 years 2 months 12 days
Finance leases	18 years 1 month 6 days
Weighted average discount rate:
Operating leases	4.50%
Finance leases	5.10%

Leases - As a Lessee - Supple_2

Leases - As a Lessee - Supplemental Cash Flow (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 9.8
Operating cash flows from finance leases	0.9
Financing cash flows from finance leases	1.2	$ 5.1
Non-cash right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$ 85.7

Leases - As a Lessee - Maturiti

Leases - As a Lessee - Maturities of Operating and Financing Lease Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Operating Leases
2019	$ 10.2
2020	19.5
2021	15.3
2022	15.7
2023	11.9
2024	7.6
Thereafter	70.4
Total lease payments	150.6
Less: Imputed interest	(36.5)
Operating lease liabilities	114.1	$ 0
Finance Leases
2019	2.1
2020	4.2
2021	4.1
2022	2.9
2023	1.8
2024	1.4
Thereafter	29.9
Total lease payments	46.4
Less: Imputed interest	(14.8)
Finance lease liabilities	$ 31.6	$ 156.7

Leases - As a Lessee - Maturi_2

Leases - As a Lessee - Maturities Prior to Adoption of New Accounting Standard (Details) $ in Millions	Dec. 31, 2018USD ($)
December 31, 2018
2019	$ 5
2020	4.9
2021	3.7
2022	3.7
2023	3.5
Thereafter	43.4
Total lease payments	64.2
Finance Leases
2019	2.7
2020	2.8
2021	2.9
2022	2
2023	1
Thereafter	22
Total lease payments	$ 33.4

Investment in Real Estate - Nar

Investment in Real Estate - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)a	Jun. 30, 2018USD ($)a
Real Estate [Abstract]
Area of land acquired (in acres) | a			30	68
Payment to acquire land			$ 40.1	$ 19.7
Depreciation expense	$ 88.9	$ 68.9	177.8	135.1
Amortization expense	$ 13.2	$ 8.7	$ 26.4	$ 17.1

Investment in Real Estate - Rea

Investment in Real Estate - Real Estate Investments and Intangibles and Related Depreciation and Amortization (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Investment in Real Estate
Buildings and improvements, cost	$ 1,689.7	$ 1,677.5
Equipment, cost	2,869.7	2,630.2
Buildings and improvements, accumulated depreciation	(504)	(481.8)
Equipment, accumulated depreciation	(703.4)	(572.7)
Buildings and improvements, net	1,185.7	1,195.7
Equipment, net	2,166.3	2,057.5
Intangible Assets
Less: accumulated depreciation and amortization	(187)	(166.9)
Customer Relationships
Intangible Assets
Cost	247.1	247.1
Less: accumulated depreciation and amortization	(144.5)	(137.9)
Net	102.6	109.2
In Place Leases
Intangible Assets
Cost	135.9	136
Less: accumulated depreciation and amortization	(33.7)	(21.1)
Net	102.2	114.9
Other Contract Intangible Assets
Intangible Assets
Cost	19.3	19.5
Less: accumulated depreciation and amortization	(8.8)	(7.9)
Net	$ 10.5	$ 11.6
Buildings
Intangible Assets
Useful life of asset	30 years
Building improvements
Intangible Assets
Useful life of asset	30 years
Equipment
Intangible Assets
Useful life of asset	20 years

Equity Investment (Details)

Equity Investment (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Apr. 12, 2019	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Oct. 30, 2018	Oct. 08, 2018
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of equity method investments			$ 199.8	$ 0
Equity investments		$ 91.9	$ 91.9		$ 198.1
GDS
Schedule of Equity Method Investments [Line Items]
Price per ordinary share (in dollars per share)			$ 37.57
Equity method investment, share equivalent sold (shares)	5.7
Proceeds from sale of equity method investments	$ 200
Equity method investment, share equivalent (shares)			2.3
Equity method investment, discount rate			8.70%
Equity investments		79	$ 79
Affiliated Entity | ODATA
Schedule of Equity Method Investments [Line Items]
Investments						$ 0.7	$ 11.9
Ownership %							10.00%
Payments of capital contribution		0.3	0.3
Fair Value | Level 1 | GDS
Schedule of Equity Method Investments [Line Items]
Equity investments		$ 79	$ 79

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred leasing and other contract costs	$ 44.2	$ 43.6
Prepaid expenses	26.8	26.4
Non-real estate assets, net	18.9	18.4
Other assets	25.6	22.9
Total	$ 115.5	$ 111.3

Equity Investment - Gain (Loss)

Equity Investment - Gain (Loss) on Marketable Equity Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Net (loss) gain on marketable equity investments	$ (8.5)	$ 102.7	$ 92.7	$ 143.2
Less: Net (loss) gain recognized on marketable equity investments sold	(5.3)		66.9	0
Unrealized (loss) gain on marketable equity investment held as of June 30, 2019	$ (3.2)		$ 25.8	$ 143.2

Debt - Components of Debt (Deta

Debt - Components of Debt (Details) - USD ($)	Mar. 29, 2018	Jun. 30, 2019	Dec. 31, 2018	Mar. 31, 2018
Debt Instrument [Line Items]
Document Period End Date		Jun. 30, 2019
Deferred financing costs		$ (29,400,000)	$ (32,900,000)
Total		$ 2,713,800,000	2,624,700,000
Monthly LIBOR		2.41%
$3 Billion Credit Facility
Debt Instrument [Line Items]
Credit agreement amount	$ 3,000,000,000
Term Loan | 2023 Term Loan
Debt Instrument [Line Items]
Credit agreement amount	1,000,000,000
Credit Facility		$ 800,000,000	1,000,000,000	$ 700,000,000
Term Loan | 2025 Term Loan
Debt Instrument [Line Items]
Credit agreement amount	300,000,000
Credit Facility		$ 300,000,000	300,000,000
Term Loan | LIBOR | 2023 Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
Term Loan | LIBOR | 2025 Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate		1.80%
Senior Notes | 2024 Notes, including bond premium of $4.9 million
Debt Instrument [Line Items]
Long-term debt			705,500,000
Stated interest rate		5.00%
Bond premium		$ 4,900,000
Senior Notes | 2027 Notes, including bond premium of $8.4 million
Debt Instrument [Line Items]
Long-term debt			509,100,000
Stated interest rate		5.375%
Bond premium		$ 8,400,000
Revolving Credit Facility | $3 Billion Credit Facility
Debt Instrument [Line Items]
Credit agreement amount	3,000,000,000	3,000,000,000
Revolving Credit Facility | $1.7 Billion Revolving Credit Facility:
Debt Instrument [Line Items]
Credit agreement amount	$ 1,700,000,000	1,700,000,000
Credit Facility		$ 429,900,000
Term of extension option	1 year	1 year
Revolving Credit Facility | US Revolver
Debt Instrument [Line Items]
Credit Facility		$ 270,000,000	0
Revolving Credit Facility | EUR Revolver
Debt Instrument [Line Items]
Credit Facility		153,500,000	143,000,000
Revolving Credit Facility | GBP Revolver
Debt Instrument [Line Items]
Credit Facility		$ 6,400,000	$ 0
Revolving Credit Facility | LIBOR | US Revolver
Debt Instrument [Line Items]
Basis spread on variable rate		1.55%
Revolving Credit Facility | LIBOR | EUR Revolver
Debt Instrument [Line Items]
Basis spread on variable rate		1.55%
Revolving Credit Facility | LIBOR | GBP Revolver
Debt Instrument [Line Items]
Basis spread on variable rate		1.55%

Debt - Narrative (Details)

Debt - Narrative (Details) € in Millions	Mar. 29, 2018USD ($)tranche	Nov. 03, 2017USD ($)	Mar. 17, 2017USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Jun. 30, 2019EUR (€)	Mar. 31, 2018USD ($)
Line of Credit Facility [Line Items]
Loss on early extinguishment of debt				$ 0	$ 0	$ 0	$ 3,100,000
Letters of credit outstanding				8,000,000		8,000,000
$3 Billion Credit Facility
Line of Credit Facility [Line Items]
Credit agreement amount	$ 3,000,000,000
Available capacity under accordion feature	3,800,000,000
$3 Billion Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit agreement amount	3,000,000,000			3,000,000,000		3,000,000,000
Borrowings used to retire previous debt	1,000,000,000
Available capacity				1,300,000,000		1,300,000,000
$1.7 Billion Revolving Credit Facility: | Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit agreement amount	$ 1,700,000,000			1,700,000,000		$ 1,700,000,000
Option to extend maturity	1 year					1 year
Multicurrency borrowing sublimit	$ 750,000,000
Line of credit				429,900,000		$ 429,900,000
Commitment fee percent						0.25%
Commitment fee rate per annum upon 50% or greater utilization						0.15%
Commitment fee amount				500,000	$ 1,100,000	$ 1,000,000	$ 1,800,000
Available capacity				1,300,000,000		1,300,000,000
2023 Term Loan
Line of Credit Facility [Line Items]
Term	5 years
2023 Term Loan | Revolving Credit Facility
Line of Credit Facility [Line Items]
Available capacity				0		0
2023 Term Loan | Term Loan
Line of Credit Facility [Line Items]
Credit agreement amount	$ 1,000,000,000
Line of credit				800,000,000		800,000,000		$ 1,000,000,000		$ 700,000,000
Delayed draw feature	$ 300,000,000
Delay draw feature, number of tranches | tranche	3
Delayed draw feature, period	6 months
2025 Term Loan
Line of Credit Facility [Line Items]
Term	7 years
2025 Term Loan | Term Loan
Line of Credit Facility [Line Items]
Credit agreement amount	$ 300,000,000
Line of credit				$ 300,000,000		$ 300,000,000		$ 300,000,000
$2.0 Billion Credit Facility
Line of Credit Facility [Line Items]
Credit agreement amount	2,000,000,000
$2.0 Billion Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit	900,000,000
$1.1 Billion Revolving Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit agreement amount	1,100,000,000
2021 Term Loan
Line of Credit Facility [Line Items]
Term								5 years
2021 Term Loan | Term Loan
Line of Credit Facility [Line Items]
Line of credit	250,000,000
2022 Term Loan
Line of Credit Facility [Line Items]
Term								7 years
2022 Term Loan | Term Loan
Line of Credit Facility [Line Items]
Line of credit	$ 650,000,000
2024 Notes | Senior Notes
Line of Credit Facility [Line Items]
Stated interest rate				5.00%		5.00%			5.00%
2024 Notes | Senior Notes | Cyrus One LP And Cyrus One Finance Corp
Line of Credit Facility [Line Items]
Debt principal amount		$ 200,000,000	$ 500,000,000
Stated interest rate		5.00%	5.00%
2027 Notes | Senior Notes
Line of Credit Facility [Line Items]
Stated interest rate				5.375%		5.375%			5.375%
2027 Notes | Senior Notes | Cyrus One LP And Cyrus One Finance Corp
Line of Credit Facility [Line Items]
Debt principal amount		$ 200,000,000	$ 300,000,000
Stated interest rate		5.375%	5.375%
5.000% senior notes due 2024 and 5.375% senior notes due 2027 | Senior Notes
Line of Credit Facility [Line Items]
Debt proceeds, net of underwriting costs		$ 416,100,000	$ 791,200,000
Debt financing and underwriting costs		$ 4,400,000
Interest Rate Swap
Line of Credit Facility [Line Items]
Derivative liability, notional amount | €									€ 238.1
Derivative asset, notional amount				$ 270,000,000		$ 270,000,000
Increase (decrease) in interest expense, debt				$ (2,000,000)		$ (2,300,000)

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Carrying Value and Fair Value of Other Financial Instruments (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 2,713.8	$ 2,624.7
Equity investments	91.9	198.1
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity investments		185.5
Senior Notes | 2024 Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	704.9	705.5
Senior Notes | 2027 Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	508.4	509.1
Level 1 | Senior Notes | 2024 Notes | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	720.1	684.1
Level 1 | Senior Notes | 2027 Notes | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	528.8	488
Level 2 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity investments		$ 185.5
GDS
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity investments	$ 79
Equity method investment, discount rate	8.70%
GDS | Level 1 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity investments	$ 79

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Derivative instruments (Details) € in Millions, £ in Millions	Jun. 30, 2019GBP (£)	Jun. 30, 2019USD ($)	Jun. 30, 2019EUR (€)	Mar. 29, 2018USD ($)
Cross Currency Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liability, notional amount | €			€ 238.1
Derivative asset, notional amount		$ 270,000,000
$1.7 Billion Revolving Credit Facility: | Revolving Credit Facility
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Line of credit		429,900,000
Credit agreement amount		1,700,000,000		$ 1,700,000,000
$1.7 Billion Revolving Credit Facility: | Revolving Credit Facility | Cross Currency Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Line of credit	£ 5		€ 135
Derivative liability, fair value		$ (900,000)

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Derivative Instruments Gain (Loss) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in OCI for derivatives	$ (3.6)	$ 2.7	$ 0	$ (0.9)	$ 0
Cross Currency Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in OCI for derivatives			0		0
Amount of gain (loss) reclassified from accumulated OCI for derivatives	0		0	0	0
Amount of gain (loss) recognized in earnings	$ 0		$ 0	$ 0	$ 0

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($)	Jul. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued during period, average price per share (in dollars per share)				$ 51.24			$ 51.24
Proceeds from stock issuance						$ 252,600,000	$ 152,200,000
Issuance of common stock (in shares)							3,000,000
Common stock outstanding (in shares)		113,176,370				113,176,370		108,329,314
Dividends paid per share (in dollars per share)						$ 0.92
Payments of dividends						$ 101,300,000	$ 86,600,000
Dividends declared per share (in dollars per share)		$ 0.46	$ 0.46	$ 0.46	$ 0.46
Stock-based compensation expense		$ 3,700,000		$ 4,500,000		$ 8,200,000	8,400,000
2018 ATM Stock Offering Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of shares authorized				$ 500,000,000			$ 500,000,000
New 2018 ATM Stock Offering Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of shares authorized								$ 750,000,000
Stock issued during period, average price per share (in dollars per share)		$ 52.22				$ 52.22
Proceeds from stock issuance						$ 252,200,000
Payments of stock issuance costs						2,500,000
Value of shares available to grant		$ 495,300,000				$ 495,300,000
Issuance of common stock (in shares)						4,900,000
LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)		8,900,000				8,900,000
Shares available for grant (in shares)		4,600,000				4,600,000
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends declared per share (in dollars per share)	$ 0.50

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted Stock Unit Activity (Details) - $ / shares	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Restricted Stock Units
Units
Outstanding, beginning balance (in shares)	511,049	265,002
Granted (in shares)	391,911	326,690
Exercised (in shares)	(130,210)	(87,058)
Forfeited (in shares)	(71,265)	(14,324)
Outstanding, ending balance (in shares)	701,485	490,310
Weighted Average Grant Date Fair Value
Outstanding, beginning balance (in dollars per share)	$ 56.23	$ 56.08
Granted (in dollars per share)	48.50	51.95
Exercised (in dollars per share)	45.37	44.28
Forfeited (in dollars per share)	53.16	54.84
Outstanding, ending balance (in dollars per share)	$ 54.24	$ 55.46
Restricted Stock Units, Time-Based
Units
Outstanding, ending balance (in shares)	347,600	246,546
Weighted Average Grant Date Fair Value
Outstanding, ending balance (in dollars per share)	$ 53.38	$ 50.72
Restricted Stock Units, Performance-Based
Units
Outstanding, ending balance (in shares)	353,885	243,764
Weighted Average Grant Date Fair Value
Outstanding, ending balance (in dollars per share)	$ 55.08	$ 60.25

Stockholders' Equity - Restri_2

Stockholders' Equity - Restricted Stock Activity (Details) - $ / shares	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Restricted Stock
Shares
Outstanding, beginning balance (in shares)	419,356	715,098
Granted (in shares)	16,681	17,052
Exercised (in shares)	(370,554)	(221,586)
Forfeited (in shares)	(34,603)	(51,197)
Outstanding, ending balance (in shares)	30,880	459,367
Weighted Average Grant Date Fair Value
Outstanding, beginning balance (in dollars per share)	$ 35.73	$ 32.21
Granted (in dollars per share)	52.46	51.31
Exercised (in dollars per share)	35.38	27.41
Forfeited (in dollars per share)	37.09	28.99
Outstanding, ending balance (in dollars per share)	$ 47.39	$ 35.59
Restricted Stock, Time-Based
Shares
Outstanding, ending balance (in shares)	30,880	346,802
Weighted Average Grant Date Fair Value
Outstanding, ending balance (in dollars per share)	$ 47.39	$ 37.95
Restricted Stock, Performance-Based
Shares
Outstanding, ending balance (in shares)	0	112,565
Weighted Average Grant Date Fair Value
Outstanding, ending balance (in dollars per share)	$ 0	$ 28.32

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Option Activity (Details) - $ / shares	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Options
Outstanding, beginning balance (in shares)	401,223	415,459
Granted (in shares)	0	0
Exercised (in shares)	(25,586)	(2,788)
Forfeited (in shares)	(551)	0
Outstanding, ending balance (in shares)	375,086	412,671
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding (in dollars per share)	$ 31.96	$ 31.67
Granted (in dollars per share)	0	0
Exercised (in dollars per share)	36.70	23.58
Forfeited (in dollars per share)	23.58	0
Outstanding (in dollars per share)	$ 31.64	$ 31.72
Stock Options, Time Based
Options
Outstanding, ending balance (in shares)	323,101	348,137
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding (in dollars per share)	$ 32.94	$ 33.23
Stock Options, Performance Based
Options
Outstanding, ending balance (in shares)	51,985	64,534
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding (in dollars per share)	$ 23.58	$ 23.58

Income (Loss) per Share - Compu

Income (Loss) per Share - Computation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator:
Net income (loss)	$ (8.5)	$ 89.4	$ 105.9	$ 43.5	$ 80.9	$ 149.4
Less: Restricted stock dividends, Basic	(0.2)		(0.3)		(0.3)	(0.5)
Less: Restricted stock dividends, Diluted	(0.2)		(0.3)		(0.3)	(0.5)
Net (loss) income available to stockholders, Basic	(8.7)		105.6		80.6	148.9
Net (loss) income available to stockholders, Diluted	$ (8.7)		$ 105.6		$ 80.6	$ 148.9
Denominator:
Weighted average shares outstanding - basic (in shares)	113.1		98.6		110.7	97.3
Performance-based restricted stock and units (in shares)	0		0.8		0.4	0.8
Weighted average shares outstanding- diluted (in shares)	113.1		99.4		111.1	98.1
EPS:
(Loss) income per share - basic (in dollars per share)	$ (0.08)		$ 1.07		$ 0.73	$ 1.53
Effect of dilutive shares:
(Loss) income per share - diluted (in dollars per share)	$ (0.08)		$ 1.06		$ 0.73	$ 1.52

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)
GDS | Investee
Related Party Transaction [Line Items]
Commission and referral charges and accrued expensed payable to GDS		$ 0.5
ODATA | Affiliated Entity
Related Party Transaction [Line Items]
Ownership percentage	10.00%	10.00%
Payments of capital contribution	$ 0.3	$ 0.3

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) ft² in Thousands, £ in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019GBP (£)ft²location	Jun. 30, 2019USD ($)ft²location	Dec. 31, 2018USD ($)
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Letters of credit outstanding			$ 8
Annual rent				$ 64.2
Minimum
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Operating lease, term of contract		1 year	1 year
Maximum
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Operating lease, term of contract		17 years	17 years
Data center facilities and equipment
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Amount of minimum purchase commitment	$ 268.6
Data center facilities and equipment | Minimum
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Term of purchase commitment	1 year
Data center facilities and equipment | Maximum
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Term of purchase commitment	2 years
Services
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Amount of minimum purchase commitment	$ 79.6
Services | Minimum
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Term of purchase commitment	1 year
Services | Maximum
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Term of purchase commitment	2 years
London, UK
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Number of locations | location		2	2
Operating lease, area | ft²		157	157
Annual rent | £		£ 3
Land | London, UK
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Operating lease, term of contract		20 years	20 years
Building Shell | London, UK
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Operating lease, term of contract		25 years	25 years

Guarantors - Narrative (Details

Guarantors - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Minimum unencumbered asset value percentage of unsecured debt		150.00%
Gross operating real estate included in guarantor subsidiaries		83.00%
Equity investments	$ 91.9	$ 91.9		$ 198.1
(Loss) gain on marketable equity investment	(3.2)	25.8	$ 143.2
Non- Guarantors
Condensed Financial Statements, Captions [Line Items]
Equity investments	91.9	91.9		198.1
GDS
Condensed Financial Statements, Captions [Line Items]
Equity investments	$ 79	$ 79
GDS | Non- Guarantors
Condensed Financial Statements, Captions [Line Items]
Equity investments				$ 185.5

Guarantors - Condensed Consolid

Guarantors - Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Condensed Consolidating Balance Sheets
Total investment in real estate, net	$ 4,499.6		$ 4,293
Cash and cash equivalents	144.1		64.4
Investment in subsidiaries	0		0
Rent and other receivables, net	268.4		234.9
Restricted cash	1.3		0
Operating lease right-of-use assets, net	78.5		0
Intercompany receivable	0		0
Equity investments	91.9		198.1
Goodwill	455.1		455.1
Intangible assets, net	215.3		235.7
Other assets	115.5		111.3
Total assets	5,869.7		5,592.5
Debt	2,713.8		2,624.7
Operating lease liabilities	114.1		0
Intercompany payable	0		0
Finance lease liabilities	31.6		156.7
Accounts payable and accrued expenses	112.8		121.3
Construction costs payable	149.5		195.3	$ 113.3
Dividends payable	53		51	46.5
Deferred revenue and prepaid rents	166.8		148.6
Deferred tax liability	65.5		68.9
Total liabilities	3,407.1		3,366.5
Total stockholders' equity	2,462.6	$ 2,378.1	2,226	$ 1,928.2	$ 1,854.6	$ 1,713.9
Total liabilities and equity	5,869.7		5,592.5
Eliminations/Consolidations
Condensed Consolidating Balance Sheets
Total investment in real estate, net	55.8		36.9
Cash and cash equivalents	0		0
Investment in subsidiaries	(5,787.5)		(5,361.6)
Rent and other receivables, net	0		0
Restricted cash	0
Operating lease right-of-use assets, net	0
Intercompany receivable	(1,900.2)		(1,791.5)
Equity investments	0		0
Goodwill	0		0
Intangible assets, net	0		0
Other assets	0		0
Total assets	(7,631.9)		(7,116.2)
Debt	0		0
Operating lease liabilities	0
Intercompany payable	(1,900.2)		(1,791.5)
Finance lease liabilities	0		0
Accounts payable and accrued expenses	0		0
Construction costs payable	0		0
Dividends payable	0		0
Deferred revenue and prepaid rents	0		0
Deferred tax liability	0		0
Total liabilities	(1,900.2)		(1,791.5)
Total stockholders' equity	(5,731.7)		(5,324.7)
Total liabilities and equity	(7,631.9)		(7,116.2)
General Partner
Condensed Consolidating Balance Sheets
Total investment in real estate, net	0		0
Cash and cash equivalents	0		0
Investment in subsidiaries	17.1		22.2
Rent and other receivables, net	0		0
Restricted cash	0
Operating lease right-of-use assets, net	0
Intercompany receivable	0		0
Equity investments	0		0
Goodwill	0		0
Intangible assets, net	0		0
Other assets	0		0
Total assets	17.1		22.2
Debt	0		0
Operating lease liabilities	0
Intercompany payable	0		0
Finance lease liabilities	0		0
Accounts payable and accrued expenses	0		0
Construction costs payable	0		0
Dividends payable	0		0
Deferred revenue and prepaid rents	0		0
Deferred tax liability	0		0
Total liabilities	0		0
Total stockholders' equity	17.1		22.2
Total liabilities and equity	17.1		22.2
Parent Guarantor
Condensed Consolidating Balance Sheets
Total investment in real estate, net	0		0
Cash and cash equivalents	0		0
Investment in subsidiaries	2,443.5		2,216.9
Rent and other receivables, net	0		0
Restricted cash	0
Operating lease right-of-use assets, net	0
Intercompany receivable	16.3		23.2
Equity investments	0		0
Goodwill	0		0
Intangible assets, net	0		0
Other assets	0		0
Total assets	2,459.8		2,240.1
Debt	0		0
Operating lease liabilities	0
Intercompany payable	0		0
Finance lease liabilities	0		0
Accounts payable and accrued expenses	0		0
Construction costs payable	0		0
Dividends payable	53		51
Deferred revenue and prepaid rents	0		0
Deferred tax liability	0		0
Total liabilities	53		51
Total stockholders' equity	2,406.8		2,189.1
Total liabilities and equity	2,459.8		2,240.1
LP Co-issuer
Condensed Consolidating Balance Sheets
Total investment in real estate, net	0		0
Cash and cash equivalents	0		0
Investment in subsidiaries	3,326.9		3,122.5
Rent and other receivables, net	0.3		0
Restricted cash	0
Operating lease right-of-use assets, net	0
Intercompany receivable	1,867.1		1,761.5
Equity investments	0		0
Goodwill	0		0
Intangible assets, net	0		0
Other assets	0.5		0.5
Total assets	5,194.8		4,884.5
Debt	2,713.8		2,624.7
Operating lease liabilities	0
Intercompany payable	16.3		23.2
Finance lease liabilities	0		0
Accounts payable and accrued expenses	21.2		19.7
Construction costs payable	0		0
Dividends payable	0		0
Deferred revenue and prepaid rents	0		0
Deferred tax liability	0		0
Total liabilities	2,751.3		2,667.6
Total stockholders' equity	2,443.5		2,216.9
Total liabilities and equity	5,194.8		4,884.5
Finance Co-issuer
Condensed Consolidating Balance Sheets
Total investment in real estate, net	0		0
Cash and cash equivalents	0		0
Investment in subsidiaries	0		0
Rent and other receivables, net	0		0
Restricted cash	0
Operating lease right-of-use assets, net	0
Intercompany receivable	0		0
Equity investments	0		0
Goodwill	0		0
Intangible assets, net	0		0
Other assets	0		0
Total assets	0		0
Debt	0		0
Operating lease liabilities	0
Intercompany payable	0		0
Finance lease liabilities	0		0
Accounts payable and accrued expenses	0		0
Construction costs payable	0		0
Dividends payable	0		0
Deferred revenue and prepaid rents	0		0
Deferred tax liability	0		0
Total liabilities	0		0
Total stockholders' equity	0		0
Total liabilities and equity	0		0
Guarantor Subsidiaries
Condensed Consolidating Balance Sheets
Total investment in real estate, net	3,718.4		3,611.2
Cash and cash equivalents	118.7		27.2
Investment in subsidiaries	0		0
Rent and other receivables, net	241.9		218.7
Restricted cash	0
Operating lease right-of-use assets, net	43.2
Intercompany receivable	16.8		6.8
Equity investments	0		0
Goodwill	455.1		455.1
Intangible assets, net	166.7		178.1
Other assets	95.3		94.4
Total assets	4,856.1		4,591.5
Debt	0		0
Operating lease liabilities	77.5
Intercompany payable	1,867.1		1,761.5
Finance lease liabilities	4.7		104
Accounts payable and accrued expenses	83.8		95.9
Construction costs payable	102.5		175.6
Dividends payable	0		0
Deferred revenue and prepaid rents	161.1		144.9
Deferred tax liability	0		0
Total liabilities	2,296.7		2,281.9
Total stockholders' equity	2,559.4		2,309.6
Total liabilities and equity	4,856.1		4,591.5
Non- Guarantors
Condensed Consolidating Balance Sheets
Total investment in real estate, net	725.4		644.9
Cash and cash equivalents	25.4		37.2
Investment in subsidiaries	0		0
Rent and other receivables, net	26.2		16.2
Restricted cash	1.3
Operating lease right-of-use assets, net	35.3
Intercompany receivable	0		0
Equity investments	91.9		198.1
Goodwill	0		0
Intangible assets, net	48.6		57.6
Other assets	19.7		16.4
Total assets	973.8		970.4
Debt	0		0
Operating lease liabilities	36.6
Intercompany payable	16.8		6.8
Finance lease liabilities	26.9		52.7
Accounts payable and accrued expenses	7.8		5.7
Construction costs payable	47		19.7
Dividends payable	0		0
Deferred revenue and prepaid rents	5.7		3.7
Deferred tax liability	65.5		68.9
Total liabilities	206.3		157.5
Total stockholders' equity	767.5		812.9
Total liabilities and equity	$ 973.8		$ 970.4

Guarantors - Condensed Consol_2

Guarantors - Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Condensed Consolidating Statements of Operations
Revenue	$ 251.5		$ 196.9		$ 476.5	$ 393.5
Total operating expenses	231.8		169.9		445	338.8
Operating income	19.7		27		31.5	54.7
Interest expense	(21.1)		(22.8)		(44.8)	(43.6)
Gain (loss) on marketable equity investment	(8.5)		102.7		92.7	143.2
Loss on early extinguishment of debt	0		0		0	(3.1)
Other expense	0		0		(0.1)	0
Net (loss) income before income taxes	(9.9)		106.9		79.3	151.2
Income tax benefit (expense)	1.4		(1)		1.6	(1.8)
Equity (loss) earnings related to investment in subsidiaries	0		0		0	0
Net (loss) income	(8.5)	$ 89.4	105.9	$ 43.5	80.9	149.4
Other comprehensive income	(6)		0		(2.7)	0.1
Comprehensive (loss) income	(14.5)		105.9		78.2	149.5
Eliminations/Consolidations
Condensed Consolidating Statements of Operations
Revenue	0		0		0	0
Total operating expenses	0		0		0	0
Operating income	0		0		0	0
Interest expense	9.6		4.1		18.8	7.9
Gain (loss) on marketable equity investment	0		0		0	0
Loss on early extinguishment of debt						0
Other expense					0
Net (loss) income before income taxes	9.6		4.1		18.8	7.9
Income tax benefit (expense)	0		0		0	0
Equity (loss) earnings related to investment in subsidiaries	15.3		(230.8)		(182.3)	(337.8)
Net (loss) income	24.9		(226.7)		(163.5)	(329.9)
Other comprehensive income	0		0		0	0
Comprehensive (loss) income	24.9		(226.7)		(163.5)	(329.9)
General Partner
Condensed Consolidating Statements of Operations
Revenue	0		0		0	0
Total operating expenses	0		0		0	0
Operating income	0		0		0	0
Interest expense	0		0		0	0
Gain (loss) on marketable equity investment	0		0		0	0
Loss on early extinguishment of debt						0
Other expense					0
Net (loss) income before income taxes	0		0		0	0
Income tax benefit (expense)	0		0		0	0
Equity (loss) earnings related to investment in subsidiaries	(0.2)		1		0.6	1.4
Net (loss) income	(0.2)		1		0.6	1.4
Other comprehensive income	0		0		0	0
Comprehensive (loss) income	(0.2)		1		0.6	1.4
Parent Guarantor
Condensed Consolidating Statements of Operations
Revenue	0		0		0	0
Total operating expenses	0		0		0	0
Operating income	0		0		0	0
Interest expense	0		0		0	0
Gain (loss) on marketable equity investment	0		0		0	0
Loss on early extinguishment of debt						0
Other expense					0
Net (loss) income before income taxes	0		0		0	0
Income tax benefit (expense)	0		0		0	0
Equity (loss) earnings related to investment in subsidiaries	(24.1)		101.8		59.4	141.6
Net (loss) income	(24.1)		101.8		59.4	141.6
Other comprehensive income	0		0		0	0
Comprehensive (loss) income	(24.1)		101.8		59.4	141.6
LP Co-issuer
Condensed Consolidating Statements of Operations
Revenue	0		0		0	0
Total operating expenses	0		0		0	0
Operating income	0		0		0	0
Interest expense	(30.4)		(26.2)		(62.9)	(50.1)
Gain (loss) on marketable equity investment	0		0		0	0
Loss on early extinguishment of debt						(3.1)
Other expense					0
Net (loss) income before income taxes	(30.4)		(26.2)		(62.9)	(53.2)
Income tax benefit (expense)	0		0		0	0
Equity (loss) earnings related to investment in subsidiaries	9		128		122.3	194.8
Net (loss) income	(21.4)		101.8		59.4	141.6
Other comprehensive income	(2.7)		0		0	0
Comprehensive (loss) income	(24.1)		101.8		59.4	141.6
Finance Co-issuer
Condensed Consolidating Statements of Operations
Revenue	0		0		0	0
Total operating expenses	0		0		0	0
Operating income	0		0		0	0
Interest expense	0		0		0	0
Gain (loss) on marketable equity investment	0		0		0	0
Loss on early extinguishment of debt						0
Other expense					0
Net (loss) income before income taxes	0		0		0	0
Income tax benefit (expense)	0		0		0	0
Equity (loss) earnings related to investment in subsidiaries	0		0		0	0
Net (loss) income	0		0		0	0
Other comprehensive income	0		0		0	0
Comprehensive (loss) income	0		0		0	0
Guarantor Subsidiaries
Condensed Consolidating Statements of Operations
Revenue	234.9		195.3		444.1	390.2
Total operating expenses	206.1		169		395.4	336.6
Operating income	28.8		26.3		48.7	53.6
Interest expense	0		0		0	0
Gain (loss) on marketable equity investment	0		0		0	0
Loss on early extinguishment of debt						0
Other expense					0
Net (loss) income before income taxes	28.8		26.3		48.7	53.6
Income tax benefit (expense)	(1)		(1)		(1.8)	(1.8)
Equity (loss) earnings related to investment in subsidiaries	0		0		0	0
Net (loss) income	27.8		25.3		46.9	51.8
Other comprehensive income	0		0		0	0
Comprehensive (loss) income	27.8		25.3		46.9	51.8
Non- Guarantors
Condensed Consolidating Statements of Operations
Revenue	16.6		1.6		32.4	3.3
Total operating expenses	25.7		0.9		49.6	2.2
Operating income	(9.1)		0.7		(17.2)	1.1
Interest expense	(0.3)		(0.7)		(0.7)	(1.4)
Gain (loss) on marketable equity investment	(8.5)		102.7		92.7	143.2
Loss on early extinguishment of debt						0
Other expense					(0.1)
Net (loss) income before income taxes	(17.9)		102.7		74.7	142.9
Income tax benefit (expense)	2.4		0		3.4	0
Equity (loss) earnings related to investment in subsidiaries	0		0		0	0
Net (loss) income	(15.5)		102.7		78.1	142.9
Other comprehensive income	(3.3)		0		(2.7)	0.1
Comprehensive (loss) income	$ (18.8)		$ 102.7		$ 75.4	$ 143

Guarantors - Condensed Consol_3

Guarantors - Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Condensed Consolidating Statements of Cash Flows
Net cash (used in) provided by operating activities	$ 167.5	$ 148.5
Cash flows from investing activities:
Investment in real estate	(514.8)	(322.7)
Investment in subsidiaries	0	0
Equity investments	(0.3)	0
Proceeds from sale of equity investments	199.8	0
Return of investment	0	0
Intercompany borrowings	0	0
Net cash used in investing activities	(315.3)	(322.7)
Cash flows from financing activities:
Issuance of common stock, net	252.6	152.2
Dividends paid	(101.3)	(86.6)
Intercompany borrowings	0	0
Proceeds from revolving credit facility	287.8	0
Proceeds from unsecured term loan	0	985.4
Repayments of unsecured term loan	(200)	(902.7)
Payments on finance lease liabilities	(1.2)	(5.1)
Tax payment upon exercise of equity awards	(8.8)	(4.7)
Contributions/distributions from parent	0	0
Net cash provided by (used in) financing activities	229.1	138.5
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(0.3)	0
Net increase (decrease) in cash, cash equivalents and restricted cash	81	(35.7)
Cash, cash equivalents and restricted cash at beginning of period	64.4	151.9
Cash, cash equivalents and restricted cash at end of period	145.4	116.2
General Partner
Condensed Consolidating Statements of Cash Flows
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Investment in real estate	0	0
Investment in subsidiaries	(1.8)	(1.5)
Equity investments	0
Proceeds from sale of equity investments	0
Return of investment	0	0
Intercompany borrowings	0	0
Net cash used in investing activities	(1.8)	(1.5)
Cash flows from financing activities:
Issuance of common stock, net	0	0
Dividends paid	0	0
Intercompany borrowings	0	0
Proceeds from revolving credit facility	0
Proceeds from unsecured term loan		0
Repayments of unsecured term loan	0	0
Payments on finance lease liabilities	0	0
Tax payment upon exercise of equity awards	0	0
Contributions/distributions from parent	1.8	1.5
Net cash provided by (used in) financing activities	1.8	1.5
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0
Net increase (decrease) in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash at beginning of period	0	0
Cash, cash equivalents and restricted cash at end of period	0	0
Eliminations/Consolidations
Condensed Consolidating Statements of Cash Flows
Net cash (used in) provided by operating activities	18.8	7.9
Cash flows from investing activities:
Investment in real estate	(18.8)	(7.9)
Investment in subsidiaries	322.3	307.8
Equity investments	0
Proceeds from sale of equity investments	0
Return of investment	(101.3)	(86.6)
Intercompany borrowings	(22.5)	(61.2)
Net cash used in investing activities	179.7	152.1
Cash flows from financing activities:
Issuance of common stock, net	0	0
Dividends paid	101.3	86.6
Intercompany borrowings	22.5	61.2
Proceeds from revolving credit facility	0
Proceeds from unsecured term loan		0
Repayments of unsecured term loan	0	0
Payments on finance lease liabilities	0	0
Tax payment upon exercise of equity awards	0	0
Contributions/distributions from parent	(322.3)	(307.8)
Net cash provided by (used in) financing activities	(198.5)	(160)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0
Net increase (decrease) in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash at beginning of period	0	0
Cash, cash equivalents and restricted cash at end of period	0	0
Parent Guarantor
Condensed Consolidating Statements of Cash Flows
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Investment in real estate	0	0
Investment in subsidiaries	(252.6)	(152.2)
Equity investments	0
Proceeds from sale of equity investments	0
Return of investment	101.3	86.6
Intercompany borrowings	8.8	4.7
Net cash used in investing activities	(142.5)	(60.9)
Cash flows from financing activities:
Issuance of common stock, net	252.6	152.2
Dividends paid	(101.3)	(86.6)
Intercompany borrowings	0	0
Proceeds from revolving credit facility	0
Proceeds from unsecured term loan		0
Repayments of unsecured term loan	0	0
Payments on finance lease liabilities	0	0
Tax payment upon exercise of equity awards	(8.8)	(4.7)
Contributions/distributions from parent	0	0
Net cash provided by (used in) financing activities	142.5	60.9
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0
Net increase (decrease) in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash at beginning of period	0	0
Cash, cash equivalents and restricted cash at end of period	0	0
LP Co-issuer
Condensed Consolidating Statements of Cash Flows
Net cash (used in) provided by operating activities	(56.8)	(46)
Cash flows from investing activities:
Investment in real estate	0	0
Investment in subsidiaries	(67.9)	(154.1)
Equity investments	0
Proceeds from sale of equity investments	0
Return of investment	0	0
Intercompany borrowings	(105.6)	56.5
Net cash used in investing activities	(173.5)	(97.6)
Cash flows from financing activities:
Issuance of common stock, net	0	0
Dividends paid	(101.3)	(86.6)
Intercompany borrowings	(8.8)	(4.7)
Proceeds from revolving credit facility	287.8
Proceeds from unsecured term loan		985.4
Repayments of unsecured term loan	(200)	(902.7)
Payments on finance lease liabilities	0	0
Tax payment upon exercise of equity awards	0	0
Contributions/distributions from parent	252.6	152.2
Net cash provided by (used in) financing activities	230.3	143.6
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0
Net increase (decrease) in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash at beginning of period	0	0
Cash, cash equivalents and restricted cash at end of period	0	0
Finance Co-issuer
Condensed Consolidating Statements of Cash Flows
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Investment in real estate	0	0
Investment in subsidiaries	0	0
Equity investments	0
Proceeds from sale of equity investments	0
Return of investment	0	0
Intercompany borrowings	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities:
Issuance of common stock, net	0	0
Dividends paid	0	0
Intercompany borrowings	0	0
Proceeds from revolving credit facility	0
Proceeds from unsecured term loan		0
Repayments of unsecured term loan	0	0
Payments on finance lease liabilities	0	0
Tax payment upon exercise of equity awards	0	0
Contributions/distributions from parent	0	0
Net cash provided by (used in) financing activities	0	0
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0
Net increase (decrease) in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash at beginning of period	0	0
Cash, cash equivalents and restricted cash at end of period	0	0
Guarantor Subsidiaries
Condensed Consolidating Statements of Cash Flows
Net cash (used in) provided by operating activities	208.8	185.5
Cash flows from investing activities:
Investment in real estate	(401.3)	(313.5)
Investment in subsidiaries	0	0
Equity investments	0
Proceeds from sale of equity investments	0
Return of investment	0	0
Intercompany borrowings	119.3	0
Net cash used in investing activities	(282)	(313.5)
Cash flows from financing activities:
Issuance of common stock, net	0	0
Dividends paid	0	0
Intercompany borrowings	105.6	(56.5)
Proceeds from revolving credit facility	0
Proceeds from unsecured term loan		0
Repayments of unsecured term loan	0	0
Payments on finance lease liabilities	(0.6)	(4.2)
Tax payment upon exercise of equity awards	0	0
Contributions/distributions from parent	59.7	152.2
Net cash provided by (used in) financing activities	164.7	91.5
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0
Net increase (decrease) in cash, cash equivalents and restricted cash	91.5	(36.5)
Cash, cash equivalents and restricted cash at beginning of period	27.2	151.2
Cash, cash equivalents and restricted cash at end of period	118.7	114.7
Non- Guarantors
Condensed Consolidating Statements of Cash Flows
Net cash (used in) provided by operating activities	(3.3)	1.1
Cash flows from investing activities:
Investment in real estate	(94.7)	(1.3)
Investment in subsidiaries	0	0
Equity investments	(0.3)
Proceeds from sale of equity investments	199.8
Return of investment	0	0
Intercompany borrowings	0	0
Net cash used in investing activities	104.8	(1.3)
Cash flows from financing activities:
Issuance of common stock, net	0	0
Dividends paid	0	0
Intercompany borrowings	(119.3)	0
Proceeds from revolving credit facility	0
Proceeds from unsecured term loan		0
Repayments of unsecured term loan	0	0
Payments on finance lease liabilities	(0.6)	(0.9)
Tax payment upon exercise of equity awards	0	0
Contributions/distributions from parent	8.2	1.9
Net cash provided by (used in) financing activities	(111.7)	1
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(0.3)
Net increase (decrease) in cash, cash equivalents and restricted cash	(10.5)	0.8
Cash, cash equivalents and restricted cash at beginning of period	37.2	0.7
Cash, cash equivalents and restricted cash at end of period	$ 26.7	$ 1.5

Uncategorized Items - cone-2019

Label	Element	Value
Accounting Standards Update 2016-01 [Member] | AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (75,600,000)