Cyxtera (CYXTQ) 10-Q 12 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 10, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-39496
Entity Registrant Name	Cyxtera Technologies, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-3743013
Entity Address, Address Line One	2333 Ponce De Leon Boulevard Suite 900
Entity Address, City or Town	Coral Gables
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33134
City Area Code	305
Local Phone Number	537-9500
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	CYXT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		178,566,352
Entity Central Index Key	0001794905
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash	$ 60.1	$ 52.4
Accounts receivable, net of allowance of $0.0 and $0.3, respectively	27.7	18.3
Prepaid and other current assets	35.1	37.5
Total current assets	122.9	108.2
Non current assets:
Property and equipment, net	1,663.5	1,530.8
Operating lease right-of-use assets	280.3	0
Goodwill	760.5	761.7
Intangible assets, net	472	519.8
Other assets	16.9	16.7
Total assets	3,316.1	2,937.2
Current liabilities:
Accounts payable	60.2	57.9
Accrued expenses	64.1	65.3
Current portion of operating lease liabilities	32.4	0
Current portion of long-term debt, finance leases and other financing obligations	51	50.3
Deferred revenue	62.3	60.7
Other current liabilities	9.2	10
Total current liabilities	279.2	244.2
Non current liabilities:
Operating leases liabilities, net of current portion	308.6	0
Long-term debt, net of current portion	857.8	896.5
Finance leases and other financing obligations, net of current portion	1,075.8	937.8
Deferred income taxes	33.9	29.9
Warrant liabilities	0	64.7
Other liabilities	67.2	158.2
Total liabilities	2,622.5	2,331.3
Commitments and contingencies (Note 16)
Shareholders’ equity:
Preferred Stock, $0.0001 par value; 10,000,000 shares authorized; none issued and outstanding	0	0
Class A common stock, $0.0001 par value; 500,000,000 shares authorized; 178,566,352 and 166,207,190 shares issued and outstanding as of March 31, 2022, and December 31, 2021, respectively	0	0
Additional paid-in capital	1,949.1	1,816.5
Accumulated other comprehensive income	6.8	10.8
Accumulated deficit	(1,262.3)	(1,221.4)
Total shareholders’ equity	693.6	605.9
Total liabilities and shareholders’ equity	$ 3,316.1	$ 2,937.2

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Assets:
Accounts receivable, allowance for credit loss, current	$ 0	$ 0.3
Liabilities and shareholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock authorized (in shares)	10,000,000	10,000,000
Preferred stock issued (in shares)	0	0
Preferred stock outstanding (in shares)	0	0
Common stock par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock authorized (in shares)	500,000,000	500,000,000
Common stock issued (in shares)	178,566,352	166,207,190
Common stock outstanding (in shares)	178,566,352	166,207,190

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenues	$ 182.4	$ 172.9
Operating costs and expenses
Cost of revenues, excluding depreciation and amortization	98	98.4
Selling, general and administrative expenses	31.3	27.6
Depreciation and amortization	62.3	60.6
Restructuring, impairment, site closures and related costs	1.3	8.1
Total operating costs and expenses	192.9	194.7
Loss from operations	(10.5)	(21.8)
Interest expense, net	(38.6)	(43.2)
Other income (expenses), net	0.5	(0.5)
Change in fair value of warrant liabilities	11.8	0
Loss from operations before income taxes	(36.8)	(65.5)
Income tax (expense) benefit	(4.1)	12.9
Net loss	$ (40.9)	$ (52.6)
Loss Per Share
Basic (in dollars per share)	$ (0.23)	$ (0.47)
Diluted (in dollars per share)	$ (0.23)	$ (0.47)
Weighted average number of shares outstanding
Basic (in share)	175,182,160	111,351,414
Diluted (in share)	175,182,160	111,351,414

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (40.9)	$ (52.6)
Other comprehensive (loss) income:
Foreign currency translation adjustment	(4)	0.2
Other comprehensive (loss) income	(4)	0.2
Comprehensive loss	$ (44.9)	$ (52.4)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Shareholder’s Equity - USD ($) $ in Millions	Total	Previously Reported	Class A common stock	Class A common stockPreviously Reported	Class A common stockRetroactive application of recapitalization	Additional paid-in capital	Additional paid-in capitalPreviously Reported	Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss)Previously Reported	Accumulated deficit	Accumulated deficitPreviously Reported
Beginning balance (in shares) at Dec. 31, 2020			115,745,455	0.96	115,745,454
Beginning balance at Dec. 31, 2020	$ 557.8	$ 557.8	$ 0	$ 0		$ 1,504.6	$ 1,504.6	$ 16.7	$ 16.7	$ (963.5)	$ (963.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	1.9					1.9
Capital redemption (in shares)			(9,645,455)
Capital redemption	(97.9)					(97.9)
Net loss	(52.6)									(52.6)
Other comprehensive (loss) income	0.2							0.2
Ending balance (in shares) at Mar. 31, 2021			106,100,000
Ending balance at Mar. 31, 2021	409.4		$ 0			1,408.6		16.9		(1,016.1)
Beginning balance (in shares) at Dec. 31, 2021			166,207,190
Beginning balance at Dec. 31, 2021	605.9		$ 0			1,816.5		10.8		(1,221.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	3.4					3.4
Issuance of shares related to exercise of warrants (in shares)			4,859,162
Issuance of shares related to exercise of warrants	54.2					54.2
Issuance of shares related to exercise of optional shares purchase options (in shares)			7,500,000
Issuance of shares related to exercise of optional shares purchase options	75					75
Net loss	(40.9)									(40.9)
Other comprehensive (loss) income	(4)							(4)
Ending balance (in shares) at Mar. 31, 2022			178,566,352
Ending balance at Mar. 31, 2022	$ 693.6		$ 0			$ 1,949.1		$ 6.8		$ (1,262.3)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Cash Flows [Abstract]
Net loss	$ (40.9)	$ (52.6)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	62.3	60.6
Restructuring, impairment, site closures and related costs	0	2
Amortization of favorable/unfavorable leasehold interests, net	0	1.1
Amortization of debt issuance costs and fees, net	1	1.4
Equity-based compensation	3.4	1.9
Reversal of doubtful accounts	(0.3)	(0.2)
Deferred income taxes	4.1	(12.9)
Change of fair value of warrant liabilities	(11.8)	0
Non-cash interest expense, net	3	2.4
Changes in operating assets and liabilities, excluding impact of acquisitions and dispositions:
Accounts receivable	(9)	21
Prepaid and other current assets	2.3	2.8
Other assets	(0.3)	(0.5)
Operating lease right-of-use assets	10.2
Operating lease liabilities	(10.2)
Accounts payable	(0.4)	(3.1)
Accrued expenses	(1.2)	2.6
Due to affiliates	0	(22.7)
Other liabilities	0	4.3
Net cash provided by operating activities	12.2	8.1
Cash flows from investing activities:
Purchases of property and equipment	(32.4)	(13.7)
Amounts received from affiliate (Note 18)	0	117.1
Net cash (used in) provided by investing activities	(32.4)	103.4
Cash flows from financing activities:
Repayment of long-term debt	(42.3)	(2.3)
Repayment of finance leases and other financing obligations	(11.7)	(17.1)
Proceeds from sales leaseback financing	10
Capital redemption	0	(97.9)
Proceeds from the exercise of warrants, net of redemptions	1.3	0
Proceeds from the exercise of the optional share purchase options	75	0
Net cash provided by (used in) financing activities	32.3	(117.3)
Effect of foreign currency exchange rates on cash	(4.4)	(1.3)
Net increase (decrease) in cash	7.7	(7.1)
Cash at beginning of period	52.4	120.7
Cash at end of period	60.1	113.6
Supplemental cash flow information:
Cash paid for income taxes, net	0.7	0.3
Cash paid for interest	9.6	25.6
Non-cash purchases of property and equipment	$ 2.8	$ 9.7

Organization and description of

Organization and description of the business	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and description of the business	Organization and description of the business Cyxtera Technologies, Inc. (“Cyxtera”) is a global data center leader in retail colocation and interconnection services. Cyxtera’s data center platform consists of 61 highly interconnected data centers across 28 markets on three continents. Cyxtera was incorporated in Delaware as Starboard Value Acquisition Corp. (“SVAC”) on November 14, 2019. On July 29, 2021 (the “Closing Date”), SVAC consummated the previously announced business combination pursuant to the Agreement and Plan of Merger, dated February 21, 2021 (the “Merger Agreement”), by and among SVAC, Cyxtera Technologies, Inc., a Delaware corporation (“Legacy Cyxtera”), Mundo Merger Sub 1, Inc., a Delaware Corporation and wholly owned subsidiary of SVAC (“Merger Sub 1”), Cyxtera Holdings, LLC (formerly known as Mundo Merger Sub 2, LLC), a Delaware limited liability company and wholly owned subsidiary of SVAC (“Merger Sub 2”), and Mundo Holdings, Inc. (“NewCo”), a Delaware corporation and wholly owned subsidiary of SIS Holding LP, a Delaware limited partnership (“SIS”). Pursuant to the Merger Agreement, Legacy Cyxtera was contributed to NewCo and then converted into a limited liability company and, thereafter, Merger Sub 1 was merged with and into NewCo, with NewCo surviving such merger as a wholly owned subsidiary of SVAC and immediately following such merger and as part of the same overall transaction NewCo was merged with and into Merger Sub 2, with Merger Sub 2 surviving such merger as a wholly owned subsidiary of SVAC (the “Business Combination” and, collectively with the other transactions described in the Merger Agreement, the “Transactions”). On the Closing Date, and in connection with the closing of the Business Combination, SVAC changed its name to Cyxtera Technologies, Inc. Unless otherwise indicated or the context otherwise requires, references in this Quarterly Report on Form 10-Q to “we,” “us,” “our,” the “Company” and “Cyxtera” refer to the consolidated operations of Cyxtera Technologies, Inc. and its subsidiaries. References to “SVAC” refer to Starboard Value Acquisition Corp. prior to the consummation of the Business Combination and references to “Legacy Cyxtera” refer to Cyxtera Technologies, Inc. prior to the consummation of the Business Combination. Legacy Cyxtera was deemed the accounting acquirer in the Business Combination based on an analysis of the criteria outlined in Accounting Standards Codification (“ASC”) Topic 805. This determination was primarily based on Legacy Cyxtera’s stockholders prior to the Business Combination having a majority of the voting power in the combined company, Legacy Cyxtera having the ability to appoint a majority of the Board of Directors of the combined company, Legacy Cyxtera’s existing management comprising the senior management of the combined company, Legacy Cyxtera’s operations comprising the ongoing operations of the combined company, Legacy Cyxtera being the larger entity based on historical revenues and business operations and the combined company assuming Legacy Cyxtera’s name. Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of Legacy Cyxtera issuing stock for the net assets of SVAC, accompanied by a recapitalization. The net assets of SVAC are stated at historical cost, with no goodwill or other intangible assets recorded. While SVAC was the legal acquirer in the Business Combination, because Legacy Cyxtera was deemed the accounting acquirer, the historical financial statements of Legacy Cyxtera became the historical financial statements of the combined company upon the consummation of the Business Combination. As a result, the financial statements included in this report reflect: (i) the historical operating results of Legacy Cyxtera prior to the Business Combination; (ii) the consolidated results of SVAC and Legacy Cyxtera following the close of the Business Combination; (iii) the assets and liabilities of Legacy Cyxtera at their historical cost; and (iv) the Company’s equity structure for all periods presented. In accordance with guidance applicable to these circumstances, the equity structure has been restated in all comparative periods up to the Closing Date to reflect the number of shares of the Company’s Class A common stock, $0.0001 par value per share, issued to Legacy Cyxtera’s shareholders in connection with the Business Combination. As such, the shares and corresponding capital amounts and earnings per share related to Legacy Cyxtera common stock prior to the Business Combination have been retroactively restated as shares reflecting the

Basis of presentation and signi

Basis of presentation and significant accounting policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of presentation and significant accounting policies	Basis of presentation and significant accounting policies a) Basis of presentation and use of estimates The accompanying unaudited condensed consolidated financial statements have been prepared by Cyxtera and reflect all adjustments, consisting only of normal recurring adjustments, which in the opinion of management are necessary to fairly state the financial position and the results of operations for the interim periods presented. The unaudited condensed consolidated balance sheet data as of December 31, 2021 has been derived from audited consolidated financial statements as of that date. The unaudited condensed consolidated financial statements have been prepared in accordance with the regulations of the Securities and Exchange Commission (“SEC”) but omit certain information and footnote disclosure necessary to present the statements in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). For further information, refer to the Company’s consolidated financial statements as of and for the year ended December 31, 2021, included in the Annual Report on Form 10-K filed with the SEC on March 25, 2022 (the “Annual Report on Form 10-K”). Results for the interim periods are not necessarily indicative of the results for the entire fiscal year. b) Risks and uncertainties Preparing financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Examples include, but are not limited to, asset and goodwill impairments, allowance of doubtful accounts, future asset retirement obligations and the potential outcome of future tax consequences of events that have been recognized in the unaudited condensed consolidated financial statements. Actual results and outcomes may differ from these estimates and assumptions due to risks and uncertainties, including uncertainty in the current economic environment. Coronavirus (COVID-19) Update During the three months ended March 31, 2022, the COVID-19 pandemic did not have a material impact on our unaudited condensed consolidated financial statements. The full impact that the ongoing COVID-19 pandemic will have on our future unaudited condensed consolidated financial statements remains uncertain and ultimately will depend on many factors, including the duration and potential cyclicity of the health crisis, further public policy actions to be taken in response, as well as the continued impact of the pandemic on the global economy and our customers and vendors. We will continue to evaluate the nature and extent of these potential impacts to our business and unaudited condensed consolidated financial statements. c) Update to significant accounting policies The Company’s significant accounting policies are detailed in Note 2 - Summary of Significant Accounting Policies of the Company’s consolidated financial statements as of and for the year ended December 31, 2021 included within the Annual Report Form 10-K. Significant updates to our accounting policies as a result of the adoption of Accounting Standard Update (“ASU”) 2016-12, Leases , as well as the initial implementation guidance and subsequent amendments to ASU 2017-13, ASU 2018-01, ASU 2018-10, ASU 2018-11, ASU 2018-20 and ASU 2020-05 (collectively referred to as “Topic 842”) for the three months ended March 31, 2022 are discussed below. Leases The Company determines if an arrangement is or contains a lease at its inception. The Company enters into lease arrangements primarily for data center spaces, office spaces and equipment. The Company recognizes a right-of-use (“ROU”) asset and lease liability on the consolidated balance sheet for all leases with a term longer than 12 months, including renewals. ROU assets represent the Company’s right to use an underlying asset for the lease term. Lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are classified and recognized at the commencement date. Lease liabilities are measured based on the present value of fixed lease payments over the lease term. ROU assets consist of (i) initial measurement of the lease liability; (ii) lease payments made to the lessor at or before the commencement date less any lease incentives received; and (iii) initial direct costs incurred by the Company. Lease payments may vary because of changes in facts or circumstances occurring after the commencement, including changes in inflation indices. Variable lease payments that depend on an index or a rate (such as the Consumer Price Index or a market interest rate) are included in the measurement of ROU assets and lease liabilities using the index or rate at the commencement date. Variable lease payments that do not depend on an index or a rate are excluded from the measurement of ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. Since most of the Company’s leases do not provide an implicit rate, the Company uses its own incremental borrowing rate (“IBR”) on a collateralized basis in determining the present value of lease payments. The Company utilizes a market-based approach to estimate the IBR. The approach requires significant judgment. Therefore, the Company utilizes different data sets to estimate IBRs via an analysis of (i) yields on our outstanding public debt (ii) yields on comparable credit rating composite curves and (iii) yields on comparable market curves. The majority of the Company’s lease arrangements include options to extend the lease. If the Company is reasonably certain to exercise such options, the periods covered by the options are included in the lease term. The Company recognizes rental expenses for operating leases that contain predetermined fixed escalation clauses on a straight-line basis over the expected term of the lease. The depreciable lives of certain fixed assets and leasehold improvements are limited by the expected lease term. The Company has certain leases with an initial term of 12 months or less that do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. For such leases, the Company elected not to recognize any ROU asset or lease liability on the consolidated balance sheet. The Company has lease agreements with lease and non-lease components. The Company elected to account for the lease and non-lease components as a single lease component for all classes of underlying assets for which the Company has identified lease arrangements with non-lease components. d) Recent accounting pronouncements The Company is as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, as amended (“JOBS Act”). The JOBS Act provides that an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting standards, such that an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company has elected to avail itself of the extended transition periods and, as a result, the Company will not be required to adopt new or revised accounting standards on the adoption dates required for other public companies so long as the Company remains an emerging growth company. In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, Reference Rate Reform , which provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022 that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments are effective for all entities as of March 12, 2020, through December 31, 2022. The Company is evaluating the impact that the adoption of this standard will have on its unaudited condensed consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326)-Measurement of Credit Losses on Financial Instruments , which requires companies to measure and recognize lifetime expected credit losses for certain financial instruments, including trade accounts receivable. Expected credit losses are estimated using relevant information about past events, including historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount. This amendment is effective commencing in 2023 with early adoption permitted, and the Company expects to adopt the new standard on the effective date or the date it no longer qualifies as an emerging growth company, whichever is earlier. Entities are permitted to use a modified retrospective approach. The Company is evaluating the impact that the adoption of this standard will have on its unaudited condensed consolidated financial statements. In December 2019, the Financial Accounting Standards Board issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. We adopted the amendments in Topic 740 as of January 1, 2022, without a material impact on our unaudited condensed consolidated financial statements. In February 2016, FASB issued Topic 842. Topic 842 replaces the guidance in former ASC Topic 840, Leases. The new lease guidance increases transparency and comparability among organizations by requiring the recognition of the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s future obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) an operating lease right-of-use (“ROU”) asset, which is an asset that represents the lessee's right to use, or control the use of, a specified asset for the lease term. The accounting for the Company’s finance leases remains substantially unchanged . Topic 842 allows entities to adopt using one of two methods: the modified retrospective transition method or the alternative transition method. During the three months ended March 31, 2022, the Company adopted Topic 842, with an effective date of January 1, 2022, using the alternative transition method. Therefore, results for reporting periods beginning after January 1, 2022 are presented under Topic 842, while comparative information has not been restated and continues to be reported under accounting standards in effect for those periods. The Company recognized the cumulative effects of initially applying the standard as an adjustment to the opening balance of retained earnings in the period of adoption. In adopting the new guidance, the Company elected to apply the package of practical expedients permitted under the transition guidance which allows the Company not to reassess (1) whether any expired or existing contracts contain leases under the new definition of a lease; (2) lease classification for any expired or existing leases; and (3) whether previously capitalized initial direct costs would qualify for capitalization under Topic 842. Adoption of the standard had a significant impact on the Company’s unaudited condensed consolidated balance sheet, including the (1) recognition of new ROU assets and liabilities on its balance sheet for all operating leases; and (2) reclassification of previously recognized lease abandonment liabilities, deferred rent, and favorable and unfavorable lease interests, as a reduction of or addition to the ROU assets recognized at adoption. The adoption of the standard did not have a significant impact on the unaudited condensed consolidated statement of operations and statement of cash flow. The cumulative effect of the changes made to our unaudited condensed consolidated January 1, 2022 balance sheet from the adoption of Topic 842 was as follows (in millions): Balance Sheet Balances at December 31, 2021 Adjustments due to adoption of Topic 842 Balances at January 1, 2022 Assets Operating lease right-of-use assets $ — $ 290.6 $ 290.6 Intangible assets, net 519.8 (32.7) 487.1 Liabilities Current portion of operating lease liabilities — 32.2 32.2 Operating lease liabilities, less current portion — 319.0 319.0 Other liabilities 158.2 (93.3) 64.9 See Note 10 - Leases for additional information.

Business combination

Business combination	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Business combination	Business combination July 29, 2021 Acquisition of Legacy Cyxtera On July 29, 2021, Legacy Cyxtera consummated the Business Combination with SVAC, with Legacy Cyxtera deemed the accounting acquirer. The Business Combination was accounted for as a reverse recapitalization with no goodwill or other intangible assets recorded, in accordance with US GAAP. Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of Legacy Cyxtera issuing stock for the net assets of SVAC, accompanied by a recapitalization. As stated in Note 1, in connection with the closing of the Business Combination, SVAC was renamed Cyxtera Technologies, Inc. Of the 40,423,453 shares of SVAC’s Class A common stock (“Public Shares”) issued in its initial public offering (“IPO”) in September 2020, holders of 26,176,891 shares of SVAC’s Class A common stock properly exercised their right to have such shares redeemed for a full pro rata portion of the trust account holding the proceeds from the IPO, calculated as of two business days prior to the consummation of the Business Combination, which was approximately $10.00 per share or $261.8 million in the aggregate. As a result, 14,246,562 shares of Class A common stock remained outstanding leaving $142.5 million in the trust account. As a result of the Business Combination, 106,100,000 shares of Class A common stock were issued to SIS, the sole stockholder of Legacy Cyxtera prior to the Business Combination, and 25,000,000 shares of Class A common stock were issued to certain qualified institutional buyers and accredited investors, at a price of $10.00 per share, for aggregate consideration of $250.0 million, for the purpose of raising additional capital for use by the combined company following the closing of the Business Combination and satisfying one of the conditions to the closing (the “PIPE Investment”). Additionally, as a result of the Business Combination, 10,526,315 shares of Class A common stock were issued to certain clients of Starboard Value LP (the “Forward Purchasers”) for $100.0 million and 10,105,863 shares of SVAC Class B common stock held by SVAC Sponsor LLC, a Delaware limited liability company (the “Sponsor”), automatically converted to 10,105,863 shares of Class A common stock. In connection with the IPO, the Forward Purchasers and SVAC entered into an Optional Share Purchase Agreement, dated September 9, 2020 (the “Optional Share Purchase Agreement”), pursuant to which the Forward Purchasers were granted the option, anytime or from time to time for the six-month period following the closing of the Company’s initial business combination, to purchase common equity of the surviving entity in the initial business combination (the “Optional Shares”) at a price per Optional Share of $10.00, subject to adjustments. In connection with the Merger Agreement, Legacy Cyxtera and the Forward Purchasers entered into a letter agreement pursuant to which the Forward Purchasers agreed not to purchase Optional Shares for an aggregate amount exceeding $75.0 million . On July 29, 2021, immediately prior to the consummation of the Transactions, Legacy Cyxtera entered into a second letter agreement (the “Optional Purchase Letter Agreement”) with the Forward Purchasers pursuant to which the parties agreed to amend the Optional Share Purchase Agreement to limit the number of Optional Shares available for purchase by the Forward Purchasers in the six-month period following the Transactions from $75.0 million to $37.5 million. Additionally, pursuant to an assignment agreement entered into concurrently with the Optional Purchase Letter Agreement (the “Assignment Agreement”), the Forward Purchasers agreed to assign an option to purchase $37.5 million of Optional Shares under the Optional Share Purchase Agreement to SIS. As a result of the Optional Purchase Letter Agreement and the Assignment Agreement, each of SIS and the Forward Purchasers had the ability to purchase, at a price of $10.00 per share, up to 3.75 million shares of Class A common stock (for a combined maximum amount of $75.0 million or 7.5 million shares) during the six-month period following the closing date of the Transactions. The exercise price of $10.00 per share was subject to adjustment in proportion to any stock dividends, stock splits, reverse stock splits or similar transactions. On January 31, 2022, SIS and the Forward Purchasers exercised the option, and Cyxtera issued 7.5 million shares of Class A common stock, par value $0.0001 per share, to SIS and the Forward Purchasers, at a price of $10.00 per share, for aggregate consideration of $75.0 million. Since SIS and the Forward Purchasers exercised the option, the Company was obligated to issue shares of Class A common stock in exchange for cash (and the option settled on a gross basis). The accounting guidance in ASC Subtopic 815-40, Derivatives and Hedging: Contracts in Entity’s Own Equity ( “ASC Subtopic 815-40” ), states that contracts should be classified as equity instruments (and not as an asset or liability) if they are both (1) indexed to the issuer’s own stock and (2) classified in stockholders’ equity in the issuer’s statement of financial position. The optional share purchase options were indexed to the Company’s Class A common stock because the options were considered a fixed-for-fixed option on equity shares, pursuant to which the option holder would receive a fixed number of Class A common stock for a fixed conversion price of $10.00 per share. The Optional Share Purchase Agreement contained no contingent exercise or settlement provisions, which would preclude equity classification. After giving effect to the Transactions, the redemption of the Public Shares as described above, the issuance of shares as part of the forward purchase and the consummation of the PIPE Investment, there were 165,978,740 shares of Class A common stock issued and outstanding. The Class A common stock and Public Warrants (as defined in Note 4) commenced trading on the Nasdaq Stock Market, LLC (“Nasdaq”) on July 30, 2021. As noted above, an aggregate of $261.8 million was paid from SVAC’s trust account to holders that properly exercised their right to have Public Shares redeemed, and the remaining balance immediately prior to the closing remained in the trust account. After taking into account the funds of $142.5 million in the trust account and $1.4 million from SVAC’s cash operating accounts after redemptions, the $250.0 million in gross proceeds from the PIPE Investment and the $100.0 million in gross proceeds from forward purchase, the Company received approximately $493.9 million in total cash from the Business Combination, before direct and incremental transaction costs of approximately $59.4 million and debt repayment of $433.0 million plus accrued interest. The $433.0 million debt repayment includes the full repayment of Legacy Cyxtera’s 2017 Second Lien Term Facility of $310.0 million and pay down of Legacy Cyxtera’s Revolving Facility and 2021 Revolving Facility (each as defined in Note 11) of $123.0 million, plus accrued interest. In December 2021, the Company announced that it would redeem all of the Public Warrants and Private Placement Warrants (as defined in Note 4) that remained outstanding as of 5:00 p.m., New York City time, on January 19, 2022. On January 26, 2022, the Company announced that it had completed the redemption of all of its outstanding warrants that were issued under the warrant agreement and that remained outstanding at 5:00 p.m., New York City time, on January 19, 2022. Upon completion of the redemption, the Public Warrants ceased trading on the Nasdaq and were deregistered. Prior to the Business Combination, Legacy Cyxtera and SVAC filed separate standalone federal, state and local income tax returns. As a result of the Business Combination, which qualified as a reverse recapitalization, SVAC (now known as Cyxtera Technologies, Inc.) became the parent of the consolidated filing group, with Legacy Cyxtera (now known as Cyxtera Technologies, LLC) as a subsidiary. The following table reconciles the elements of the Business Combination to the unaudited condensed consolidated statement of cash flows and the unaudited condensed consolidated statement of changes in shareholders’ equity for the year ended December 31, 2021: Recapitalization SVAC’s trust and cash, net of redemptions $ 143.9 Cash - PIPE Investment 250.0 Cash - Forward Purchase 100.0 Less: transaction costs and advisory fees, net of tax benefit (59.4) Net proceeds from reverse recapitalization 434.5 Plus: non-cash net liabilities assumed (1) (41.8) Less: accrued transaction costs and advisory fees (0.4) Net contributions from reverse recapitalization $ 392.3 (1) Represents $41.8 million of non-cash Public Warrants and Private Placement Warrants liabilities assumed.

Loss per common share

Loss per common share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Loss per common share	Loss per common share Basic loss per share is computed by dividing net loss (the numerator) by the weighted-average number of shares of Class A common stock outstanding (the denominator) for the period. Diluted loss per share assumes that any dilutive equity instruments were exercised with outstanding Class A common stock adjusted accordingly when the conversion of such instruments would be dilutive. The Company’s potential dilutive shares for the three months ended March 31, 2022 included public warrants (“Public Warrants”) and private placement warrants (“Private Placement Warrants”), unvested employee stock options, unvested restricted stock units (“RSUs”), unvested performance stock units (“PSUs”) and options issued to the Forward Purchasers and SIS pursuant to the Optional Share Purchase Agreement, have been excluded from diluted net loss per share as the effect would be to reduce the net loss per share. The Company excluded the following potential shares of Class A common stock, from the computation of diluted net loss per share during the three month period ended March 31, 2022 because including them would have an anti-dilutive effect: Three Months Ended 2022 Unvested employee stock options 824,319 Unvested RSUs 4,866,709 Unvested PSUs 317,877 Optional shares (1) 7,500,000 Total shares 13,508,905 (1) Optional shares were excluded from the computation of diluted loss per share for the periods these instruments represented potential dilutive common stock equivalents during the three months ended March 31, 2022. In addition, 19.4 million of Public and Private Placement Warrants, were excluded from the computation of net loss per share for the period January 1, 2022 through January 24, 2022, because they would have had an anti-dilutive effect on the computation of diluted net loss. For the three months ended March 31, 2021, the Company did not have any potential dilutive shares.

Restructuring, impairment, site

Restructuring, impairment, site closures and related costs	3 Months Ended
	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring, impairment, site closures and related costs	Restructuring, impairment, site closures and related costs Addison site In January 2021, the Company notified the landlord of the Addison office space in Texas of its intent to sublease the property for the remaining 10 years. The Company ceased use of and subleased the space during the three months ended March 31, 2021. In connection with this decision, the Company incurred $7.9 million of expenses, including $5.9 million of accrued lease termination costs and $2.0 million of asset disposals. Moses Lake site In February 2021, the Company notified the landlord of the Moses Lake data center facility in the State of Washington of its intent to cease the use of the space. Accordingly, the Company accelerated depreciation and amortization of all assets on the site, including favorable leasehold interest amortization, which resulted in additional depreciation and amortization of $0.9 million during the three months ended March 31, 2021, and $0.3 million additional favorable leasehold interest amortization, recorded in cost of revenues, during the three months ended March 31, 2021, respectively. The Company ceased use of the property in June 2021 at which time it met the conditions for recording a charge related to the remaining lease obligation of $58.5 million. There is no sublease in place on this property. Furthermore, management believes the ability to sublease the property is remote and as such has not made any assumption for the future cash flows from a potential sublease in making this estimate. On January 1, 2022, the Company adopted Topic 842, and reclassified $53.0 million of the restructuring liability reserve representing lease abandonment liabilities to the ROU asset. As of March 31, 2022, the restructuring liability reserve relates to the ASC 420 , Exit or Disposal Cost Obligations, lease abandonment liability for Moses Lake, which was in excess of the ROU asset adjustment. The restructuring liability reserve is included in other liabilities in the unaudited condensed consolidated balance sheet. The activity in restructuring liability reserve in for the three months ended March 31, 2022 and 2021 was as follows (in millions): Three Months Ended March 31, 2022 2021 Balance at beginning of the period $ 62.3 $ — Lease termination costs — 5.4 Reclassification of the restructuring liability reserve to ROU Asset (53.0) — Accretion 0.2 0.2 Payments (0.3) (1.6) Balance at end of the period $ 9.2 $ 4.0

Revenue

Revenue	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of revenue The Company disaggregates revenue from contracts with customers into recurring revenue and non-recurring revenues. Cyxtera derives the majority of its revenues from recurring revenue streams, consisting primarily of colocation service fees. These fees are generally billed monthly and recognized ratably over the term of the contract. The Company’s non-recurring revenues are primarily comprised of installation services related to a customer’s initial deployment and professional services the Company performs. These services are considered to be non-recurring because they are billed typically once, upon completion of the installation or the professional services work performed. The majority of these non-recurring revenues are typically billed on the first invoice distributed to the customer in connection with their initial installation. However, revenues from installation services are deferred and recognized ratably over the period of the contract term in accordance with ASC Topic 606, R evenue from Contracts with Customers (“ASC Topic 606”) as discussed in Note 2 to the Company’s consolidated financial statements as of and for the year ended December 31, 2021, included within the Annual Report on Form 10-K. Three Months Ended March 31, 2022 2021 Recurring revenue $ 173.7 $ 164.7 Non-recurring revenues 8.7 8.2 Total $ 182.4 $ 172.9 Contract balances The following table summarizes the opening and closing balances of the Company’s receivables; contract asset, current; contract asset, non-current; deferred revenue, current; and deferred revenue, non-current (in millions): Receivables Contract asset, current Contract asset, non-current Deferred revenue, current Deferred revenue, non-current Closing balances as of December 31, 2020 $ 33.5 $ 23.8 $ 16.8 $ 15.6 $ 18.1 Net decrease during the three months ended March 31, 2021 (20.9) (1.8) (2.7) (0.5) (2.0) Closing balances as of March 31, 2021 $ 12.6 $ 22.0 $ 14.1 $ 15.1 $ 16.1 Closing balances as of December 31, 2021 $ 18.3 $ 17.2 $ 12.1 $ 14.5 $ 14.7 Net increase (decrease) during the three months ended March 31, 2022 9.4 (1.1) 0.5 — (0.6) Closing balances as of March 31, 2022 $ 27.7 $ 16.1 $ 12.6 $ 14.5 $ 14.1 The difference between the opening and closing balances of the Company’s contract assets and deferred revenues primarily results from the timing difference between the Company’s performance obligation and the customer’s payment. The amounts of revenue recognized during the three months ended March 31, 2022 and 2021 from the opening deferred revenue balance was $4.0 million and $4.4 million, respectively. During the three months ended March 31, 2022 and 2021, no impairment loss related to contract balances was recognized in the unaudited condensed consolidated statements of operations. In addition to the contract liability amounts shown above, deferred revenue on the unaudited condensed consolidated balance sheets includes $47.8 million and $46.1 million of advanced billings as of March 31, 2022 and December 31, 2021, respectively. Contract costs The ending balance of net capitalized contract costs as of March 31, 2022 and December 31, 2021 was $28.7 million and $29.3 million, respectively, $16.1 million and $17.2 million of which were included in prepaid and other current assets in the unaudited condensed consolidated balance sheets as of March 31, 2022 and December 31, 2021, respectively, and $12.6 million and $12.1 million of which were included in other assets in the unaudited condensed consolidated balance sheets as of March 31, 2022 and December 31, 2021, respectively. For the three months ended March 31, 2022 and 2021, $5.0 million and $7.5 million, respectively, of contract costs were amortized, $2.0 million and $4.6 million of which were included in cost of revenues, excluding depreciation and amortization in the unaudited condensed consolidated statements of operations for the three months ended March 31, 2022 and 2021, respectively, and $3.0 million and $2.9 million of which were included in selling, general and administrative expenses in the unaudited condensed consolidated statements of operations for the three months ended March 31, 2022 and 2021. Remaining performance obligations Under colocation contracts, Cyxtera’s performance obligations are to provide customers with space and power through fixed duration agreements, which are typically over three years. Under these arrangements, the Company bills customer on a monthly basis. Under interconnection agreements, Cyxtera’s performance obligations are to provide customers the ability to establish connections to their network service providers and business partners. Interconnection services are typically offered on month-to-month contract terms and generate recurring revenue. Cyxtera’s remaining performance obligations under its colocation agreements represent contracted revenue that has not been recognized, which includes deferred revenue and amounts that will be invoiced and recognized in future periods. The remaining performance obligations do not include estimates of variable consideration related to unsatisfied performance obligations, such as the usage of metered power, or any contracts that could be terminated without significant penalties such as the majority of interconnection revenues. The aggregate amount allocated to performance obligations that were unsatisfied or partially satisfied as of March 31, 2022 was $784.4 million, of which 47%, 27% and 26% is expected to be recognized over the next year, the next one to two years, and thereafter, respectively. The aggregate amount allocated to performance obligations that were unsatisfied as of December 31, 2021 was $818.0 million, of which 45%, 27% and 28% is expected to be recognized over the next year, the next one to two years, and thereafter, respectively. While initial contract terms vary in length, substantially all contracts automatically renew in one-year increments. Included in the performance obligations is either 1) remaining performance obligations under the initial contract terms or 2) remaining performance obligations related to contracts in the renewal period once the initial terms have lapsed.

Balance sheet components

Balance sheet components	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance sheet components	Balance sheet components Allowance for doubtful accounts The activity in the allowance for doubtful accounts during t he three months ended March 31, 2022 and 2021 was as follows (in millions): March 31, 2022 December 31, 2021 Beginning balance $ 0.3 $ 1.4 (Write-offs) Recoveries — 0.1 Reversal of allowance (0.3) (1.2) Impact of foreign currency translation — — Ending balance $ — $ 0.3 Factored receivables On February 9, 2021, a subsidiary of Cyxtera entered into a Master Receivables Purchase Agreement with Nomura Corporate Funding America, LLC (the “Factor”) to factor up to $37.5 million in open trade receivables at any point during the term of the commitment, which extends for a period of 540 days provided that the Factor has the right to impose additional conditions to its obligations to complete any purchase after 360 days. The Factor has not imposed any such additional conditions. Pursuant to the terms of the arrangement, a subsidiary of the Company shall, from time to time, sell to the Factor certain of its accounts receivable balances on a non-recourse basis for credit approved accounts. The agreement allows for up to 85% of the face amount of an invoice to be factored. The unused balance fee under the arrangement is 2%. During the three months ended March 31, 2022, the Company’s subsidiary factored $10.9 million of receivables and received $10.7 million, net of fees of $0.2 million. During the three months ended March 31, 2021, the Company factored $39.1 million of receivables and collected $38.7 million, net of fees of $0.4 million. Cash collected under this arrangement is reflected within the change in accounts receivables in the unaudited condensed consolidated statement of cash flows. Prepaid and other current assets Prepaid and other current assets consist of the following as of March 31, 2022 and December 31, 2021 (in millions): March 31, 2022 December 31, 2021 Contract asset, current $ 16.1 $ 17.2 Prepaid expenses 17.9 19.3 Other current assets 1.1 1.0 Total prepaid and other current assets $ 35.1 $ 37.5

Goodwill and intangible assets

Goodwill and intangible assets	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets	Goodwill and intangible assets Goodwill was $760.5 million and $761.7 million as of March 31, 2022 and December 31, 2021, respectively. The change in goodwill during the three months ended March 31, 2022 and 2021 was due to foreign currency translation. The Company has not recorded any goodwill impairment related to the colocation business since inception. In addition, the Company has indefinite-lived intangible assets of $0.5 million as of March 31, 2022 and December 31, 2021. Summarized below are the carrying values for the major classes of amortizing intangible assets as of March 31, 2022 and December 31, 2021 (in millions): March 31, 2022 December 31, 2021 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Customer relationships $ 768.0 $ (296.5) $ 471.5 $ 768.0 $ (281.4) $ 486.6 Favorable leasehold interests — — — 57.6 (24.9) 32.7 Developed technology 0.3 (0.3) — 0.3 (0.3) — Total intangibles $ 768.3 $ (296.8) $ 471.5 $ 825.9 $ (306.6) $ 519.3 The main changes in the carrying amount of each major class of amortizing intangible assets during the three months ended March 31, 2022 and 2021 was amortization and, to a lesser extent, the impact of foreign currency translation. In addition, on January 1, 2022, the Company adopted Topic 842 and reclassified the favorable leasehold interests to ROU assets. Amortization expense on intangible assets, excluding the impact of unfavorable leasehold interest amortization, amounted to $15.1 million, and $16.8 million, respectively, for the three months ended March 31, 2022 and 2021. Amortization expense for all intangible assets, except favorable leasehold interests, was recorded within depreciation and amortization expense in the unaudited condensed consolidated statements of operations. As of December 31, 2021, the Company had $16.2 million of unfavorable leasehold interests included within other liabilities in the accompanying unaudited condensed consolidated balance sheets. Favorable leasehold amortization of $1.7 million, and unfavorable leasehold amortization of $0.6 million, respectively, was recorded within cost of revenues, excluding depreciation and amortization in the unaudited condensed consolidated statements of operations for the three months ended March 31, 2021. The Company estimates annual amortization expense for existing intangible assets subject to amortization is as follows (in millions): For the years ending December 31: Remaining 2022 $ 45.8 2023 60.3 2024 60.3 2025 60.3 2026 60.3 Thereafter 184.5 Total amortization expense $ 471.5 Impairment tests

Fair value measurements

Fair value measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements The fair value of cash, accounts receivable, accounts payable, accrued expenses, deferred revenue and other current liabilities approximate their carrying value because of the short-term nature of these instruments. Refer to Note 12 for the fair value measurement disclosures related to the warrant liabilities. The carrying values and fair values of other financial instruments are as follows as of March 31, 2022 and December 31, 2021 (in millions): March 31, 2022 December 31, 2021 Carrying value Fair value Carrying value Fair value 2017 First Lien Term Facility $ 776.4 $ 780.0 $ 778.3 $ 780.0 2019 First Lien Term Facility 97.3 98.0 97.5 98.0 Revolving Facility — — 2.7 2.7 2021 Revolving Facility — — 37.3 37.3

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	Leases The Company determines if an arrangement is or contains a lease at inception. The Company enters into lease arrangements primarily for data center spaces, office spaces and equipment. The Company recognizes a ROU asset and lease liability on the unaudited condensed consolidated balance sheet for all leases with a term longer than 12 months. The leases have remaining lease terms of 1 year to 32 years. As of March 31, 2022, the Company recorded finance lease assets of $1,127.2 million, net of accumulated amortization of $206.7 million, within property and equipment, net. Lease Expenses The components of lease expenses and income are as follows (in millions): Three Months Ended Finance lease cost Amortization of ROU assets (1) $ 14.2 Interest on lease liabilities (2) 28.4 Total finance lease cost 42.6 Operating lease cost (3) 15.0 Variable lease cost (4) 3.7 Sublease income (5) (3.0) Total lease cost $ 58.3 (1) Amortization of assets under leases is included in depreciation and amortization expense in the Company’s unaudited condensed consolidated statement of operations. (2) Interest on lease liabilities is included in interest expense, net in the Company’s unaudited condensed consolidated statement of operations. (3) Operating lease costs for data centers is included in cost of revenue, excluding depreciation and amortization in the Company’s unaudited condensed consolidated statement of operations. Operating lease costs for office leases is included in selling, general, and administrative expenses in the Company’s unaudited condensed consolidated statement of operations. (4) Variable lease costs for operating leases is included in costs of revenue, excluding depreciation and amortization in the Company’s unaudited condensed consolidated statement of operations. (5) The Company has subleases for certain data centers with Lumen Technologies, Inc. formerly known as CenturyLink Inc. (“Lumen”), and the Company also leases a portion of an owned location to Lumen. The Company also has a sublease of the Addison office space described in Note 5. Sublease and lease income of $2.5 million in connection with Lumen is included in revenues in the Company’s unaudited condensed consolidated statement of operations. Sublease income of $0.5 million in connection with Addison office lease is included in restructuring, impairment, site closures, and related costs in the Company’s unaudited condensed consolidated statement of operations. Lease costs for short-term leases was inconsequential for the three months ended March 31, 2022. Other Information Other information related to leases is as follows (in millions): Three Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 25.3 Operating cash flows from operating leases 15.3 Financing cash flows from finance lease 11.7 Right-of-use assets obtained in exchange for lease liabilities: Finance leases 143.7 Operating leases 274.7 As of March 31, 2022 Weighted-average remaining lease term - finance leases (1) 20.5 Weighted-average remaining lease term - operating leases (1) 10.0 Weighted-average discount rate - finance leases 9.1 % Weighted-average discount rate - operating lease 10.1 % (1) Includes renewal options that are reasonably certain to be exercised. Maturities of Lease Liabilities Maturities of lease liabilities under Topic 842 as of March 31, 2022 are as follows (in millions): For the years ending: Operating Leases (1) Finance Leases Total Remaining 2022 $ 45.9 $ 112.9 $ 158.8 2023 60.9 147.2 208.1 2024 60.4 137.7 198.1 2025 51.9 140.0 191.9 2026 47.5 135.2 182.7 Thereafter 276.8 2,560.6 2,837.4 Total lease payments $ 543.4 $ 3,233.6 $ 3,777.0 Less: imputed interest (202.4) (2,115.9) (2,318.3) Total $ 341.0 $ 1,117.7 $ 1,458.7 (1) Minimum lease payments have not been reduced by minimum sublease rentals of $52.9 million due in the future under non-cancelable subleases. Future minimum lease receipts under operating lease obligations under Topic 842 as of March 31, 2022 are as follows (in millions): For the years ending: Lease receipts Remaining 2022 $ 9.1 2023 12.2 2024 12.2 2025 12.3 2026 12.4 Thereafter 4.1 Total minimum lease receipts $ 62.3 The future minimum lease receipts and payments under operating leases obligations under ASC Topic 840 as of December 31, 2021 are as follows (in millions): For the years ending: Lease receipts Lease commitments (1) 2022 $ 12.2 $ 60.3 2023 12.2 59.7 2024 12.2 59.2 2025 12.2 50.6 2026 12.2 46.3 Thereafter 4.1 273.8 Total minimum lease receipts/payments $ 65.1 $ 549.9 (1) Minimum lease payments have not been reduced by minimum sublease rentals of $45.1 million due in the future under non-cancelable subleases. Total rent expense, including the net impact from amortization of favorable and unfavorable leasehold interests, was approximately $28.8 million for the three months ended March 31, 2021 and is included within cost of revenues, excluding depreciation and amortization in the condensed consolidated statements of operations. The future minimum lease payments under capital lease arrangements and sale-leaseback financings obligations under ASC Topic 840 as of December 31, 2021 are as follows (in millions): For the years ending: 2022 $ 135.1 2023 128.3 2024 118.5 2025 120.6 2026 119.3 Thereafter 2,285.0 Total minimum lease payments 2,906.8 Less: amount representing interest (1,930.5) Present value of net minimum lease payments 976.3 Less: current portion (38.5) Capital leases, net of current portion $ 937.8 Interest expense recorded in connection with capital leases and sale-leaseback financings totaled $25.6 million for the three months ended March 31, 2021 and is included within interest expense, net in the accompanying condensed consolidated statements of operations. Sale-leaseback financings The Company also enters sale-leaseback financings, primarily relating to equipment. Amortization of assets under finance leases is included in depreciation and amortization expense in the Company’s unaudited condensed consolidated statements of operations. Payments on sale-leaseback financings are included in repayments of sale-leaseback financings in the Company’s unaudited condensed consolidated statements of cash flows. During the three months ended March 31, 2022, the Company had additions to assets and liabilities recorded as sale-leaseback financings of $10.0 million. During the three months ended March 31, 2022, there was no gain or loss recognized from the sale-leaseback financings. The Company did not have additions to assets and liabilities recorded as sale-leaseback financings during the three months ended March 31, 2021.
Leases	Leases The Company determines if an arrangement is or contains a lease at inception. The Company enters into lease arrangements primarily for data center spaces, office spaces and equipment. The Company recognizes a ROU asset and lease liability on the unaudited condensed consolidated balance sheet for all leases with a term longer than 12 months. The leases have remaining lease terms of 1 year to 32 years. As of March 31, 2022, the Company recorded finance lease assets of $1,127.2 million, net of accumulated amortization of $206.7 million, within property and equipment, net. Lease Expenses The components of lease expenses and income are as follows (in millions): Three Months Ended Finance lease cost Amortization of ROU assets (1) $ 14.2 Interest on lease liabilities (2) 28.4 Total finance lease cost 42.6 Operating lease cost (3) 15.0 Variable lease cost (4) 3.7 Sublease income (5) (3.0) Total lease cost $ 58.3 (1) Amortization of assets under leases is included in depreciation and amortization expense in the Company’s unaudited condensed consolidated statement of operations. (2) Interest on lease liabilities is included in interest expense, net in the Company’s unaudited condensed consolidated statement of operations. (3) Operating lease costs for data centers is included in cost of revenue, excluding depreciation and amortization in the Company’s unaudited condensed consolidated statement of operations. Operating lease costs for office leases is included in selling, general, and administrative expenses in the Company’s unaudited condensed consolidated statement of operations. (4) Variable lease costs for operating leases is included in costs of revenue, excluding depreciation and amortization in the Company’s unaudited condensed consolidated statement of operations. (5) The Company has subleases for certain data centers with Lumen Technologies, Inc. formerly known as CenturyLink Inc. (“Lumen”), and the Company also leases a portion of an owned location to Lumen. The Company also has a sublease of the Addison office space described in Note 5. Sublease and lease income of $2.5 million in connection with Lumen is included in revenues in the Company’s unaudited condensed consolidated statement of operations. Sublease income of $0.5 million in connection with Addison office lease is included in restructuring, impairment, site closures, and related costs in the Company’s unaudited condensed consolidated statement of operations. Lease costs for short-term leases was inconsequential for the three months ended March 31, 2022. Other Information Other information related to leases is as follows (in millions): Three Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 25.3 Operating cash flows from operating leases 15.3 Financing cash flows from finance lease 11.7 Right-of-use assets obtained in exchange for lease liabilities: Finance leases 143.7 Operating leases 274.7 As of March 31, 2022 Weighted-average remaining lease term - finance leases (1) 20.5 Weighted-average remaining lease term - operating leases (1) 10.0 Weighted-average discount rate - finance leases 9.1 % Weighted-average discount rate - operating lease 10.1 % (1) Includes renewal options that are reasonably certain to be exercised. Maturities of Lease Liabilities Maturities of lease liabilities under Topic 842 as of March 31, 2022 are as follows (in millions): For the years ending: Operating Leases (1) Finance Leases Total Remaining 2022 $ 45.9 $ 112.9 $ 158.8 2023 60.9 147.2 208.1 2024 60.4 137.7 198.1 2025 51.9 140.0 191.9 2026 47.5 135.2 182.7 Thereafter 276.8 2,560.6 2,837.4 Total lease payments $ 543.4 $ 3,233.6 $ 3,777.0 Less: imputed interest (202.4) (2,115.9) (2,318.3) Total $ 341.0 $ 1,117.7 $ 1,458.7 (1) Minimum lease payments have not been reduced by minimum sublease rentals of $52.9 million due in the future under non-cancelable subleases. Future minimum lease receipts under operating lease obligations under Topic 842 as of March 31, 2022 are as follows (in millions): For the years ending: Lease receipts Remaining 2022 $ 9.1 2023 12.2 2024 12.2 2025 12.3 2026 12.4 Thereafter 4.1 Total minimum lease receipts $ 62.3 The future minimum lease receipts and payments under operating leases obligations under ASC Topic 840 as of December 31, 2021 are as follows (in millions): For the years ending: Lease receipts Lease commitments (1) 2022 $ 12.2 $ 60.3 2023 12.2 59.7 2024 12.2 59.2 2025 12.2 50.6 2026 12.2 46.3 Thereafter 4.1 273.8 Total minimum lease receipts/payments $ 65.1 $ 549.9 (1) Minimum lease payments have not been reduced by minimum sublease rentals of $45.1 million due in the future under non-cancelable subleases. Total rent expense, including the net impact from amortization of favorable and unfavorable leasehold interests, was approximately $28.8 million for the three months ended March 31, 2021 and is included within cost of revenues, excluding depreciation and amortization in the condensed consolidated statements of operations. The future minimum lease payments under capital lease arrangements and sale-leaseback financings obligations under ASC Topic 840 as of December 31, 2021 are as follows (in millions): For the years ending: 2022 $ 135.1 2023 128.3 2024 118.5 2025 120.6 2026 119.3 Thereafter 2,285.0 Total minimum lease payments 2,906.8 Less: amount representing interest (1,930.5) Present value of net minimum lease payments 976.3 Less: current portion (38.5) Capital leases, net of current portion $ 937.8 Interest expense recorded in connection with capital leases and sale-leaseback financings totaled $25.6 million for the three months ended March 31, 2021 and is included within interest expense, net in the accompanying condensed consolidated statements of operations. Sale-leaseback financings The Company also enters sale-leaseback financings, primarily relating to equipment. Amortization of assets under finance leases is included in depreciation and amortization expense in the Company’s unaudited condensed consolidated statements of operations. Payments on sale-leaseback financings are included in repayments of sale-leaseback financings in the Company’s unaudited condensed consolidated statements of cash flows. During the three months ended March 31, 2022, the Company had additions to assets and liabilities recorded as sale-leaseback financings of $10.0 million. During the three months ended March 31, 2022, there was no gain or loss recognized from the sale-leaseback financings. The Company did not have additions to assets and liabilities recorded as sale-leaseback financings during the three months ended March 31, 2021.

Long-term debt

Long-term debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-term debt	Long-term debt Long-term debt consists of the following as of March 31, 2022 and December 31, 2021 (in millions): March 31, 2022 December 31, 2021 2017 First Lien Term Facility due May 2024 $ 776.4 $ 778.3 2019 First Lien Term Facility due May 2024 97.3 97.5 Revolving Facility due May 2022 — 2.7 Revolving Facility due November 2023 — 37.3 Less: unamortized debt issuance costs (6.7) (7.5) 867.0 908.3 Less: current maturities of long-term debt (9.2) (11.8) Long-term debt, net current portion $ 857.8 $ 896.5 Senior secured credit facilities On May 1, 2017, a subsidiary of the Company (the “Borrower”) entered into credit agreements for up to $1,275.0 million of borrowings under first and second lien credit agreements (collectively, the “Senior Secured Credit Facilities”). The Senior Secured Credit Facilities consist of (a) a first lien credit agreement providing for (i) a $150.0 million first lien multi-currency revolving credit facility (the “Revolving Facility”) and (ii) (a) an $815.0 million first lien term loan borrowing (the “2017 First Lien Term Facility”), and (b) a second lien credit agreement providing for a $310.0 million second lien term loan credit borrowing (the “2017 Second Lien Term Facility”). On May 13, 2019, the Borrower borrowed an additional $100.0 million under the incremental first lien loan under the first lien credit agreement (the “2019 First Lien Term Facility”). On May 7, 2021, certain of the lenders under the Revolving Facility entered into an amendment with the Borrower pursuant to which they agreed to extend the maturity date for certain revolving commitments from May 1, 2022 to November 1, 2023. Under these terms of the amendment, $141.3 million of commitments under the existing Revolving Facility were exchanged for $120.1 million of commitments under a new revolving facility (the “2021 Revolving Facility”). The 2021 Revolving Facility has substantially the same terms as the Revolving Facility, except that the maturity date of the 2021 Revolving Facility is November 1, 2023. In connection with the amendment, the Company repaid $19.6 million of the outstanding balance under the Revolving Facility on May 10, 2021. The amounts owed under the 2017 Second Lien Term Facility, the Revolving Facility and the 2021 Revolving Facility were repaid in July and August 2021 following the consummation of the Business Combination (see Note 3, Business Combination). Subsequent to the consummation of the Business Combination and the pay-down of the Revolving Facility and the 2021 Revolving Facility, the Company drew down an additional $40.0 million from such revolving facilities during the year ended December 31, 2021. During the three months ended March 31, 2022, the Company repaid $40.0 million of the outstanding balance under the revolving facilities. As of March 31, 2022, approximately $123.9 million was available under the revolving facilities. As of December 31, 2021, a total of $40.0 million was outstanding and approximately $88.8 million was available under the revolving facilities. The Senior Secured Credit Facilities, including the 2019 First Lien Term Facility, are secured by substantially all assets of the Borrower and contain customary covenants, including reporting and financial covenants, some of which require the Borrower to maintain certain financial coverage and leverage ratios, as well as customary events of default, and are guaranteed by certain of the Borrower’s domestic subsidiaries. As of March 31, 2022, the Company believes the Borrower was in compliance with these covenants. The Revolving Facility, the 2021 Revolving Facility, the 2017 First Lien Term Facility and the 2019 First Lien Term Facility have a five year, 18 month, seven The Borrower is required to make amortization payments on each of the 2017 First Lien Term Facility and the 2019 First Lien Term Facility at a rate of 1.0% of the original principal amount per annum, payable on a quarterly basis, with the remaining balance to be repaid in full at maturity. The 2017 First Lien Term Facility bears interest at a rate based on LIBOR plus a margin that can vary from 2.0% to 3.0%. The 2019 First Lien Term Facility bears interest at a rate based on LIBOR plus a margin that can vary from 3.0% to 4.0%. As of March 31, 2022, the rate for the 2017 First Lien Term Facility was 4.0% and the rate for the 2019 First Lien Term Facility was 5.0%. The Revolving Facility and the 2021 Revolving Facility allow the Borrower to borrow, repay and reborrow over its stated term. The Revolving Facility and the 2021 Revolving Facility provide a sublimit for the issuance of letters of credit of up to $30.0 million at any one time. Borrowings under the Revolving Facility and the 2021 Revolving Facility bear interest at a rate based on LIBOR plus a margin that can vary from 2.5% to 3.0% or, at the Borrower’s option, the alternative base rate, which is defined as the higher of (a) the Federal Funds Rate plus, 0.5%, (b) the JP Morgan prime rate or (c) one-month LIBOR plus 1%, in each case, plus a margin that can vary from 1.5% to 3.0%. The Borrower is required to pay a letter of credit fee on the face amount of each letter of credit, at a 0.125% rate per annum. The balance on the Revolving Facility and the 2021 Revolving Facility was nil as of March 31, 2022. The aggregate maturities of our long-term debt are as follows as of March 31, 2022 (in millions): For the years ending December 31: Principal amount Remaining 2022 $ 9.2 2023 9.2 2024 848.6 2025 — 2026 — Total $ 867.0 Interest expense, net Interest expense, net for the three months ended March 31, 2022 and 2021 consist of the following (in millions): Three Months Ended March 31, 2022 2021 Interest expense on debt, net of capitalized interest $ 9.2 $ 16.2 Interest expense on finance leases 28.4 25.6 Amortization of deferred financing costs and fees 1.0 1.4 Total $ 38.6 $ 43.2

Warrant Liabilities

Warrant Liabilities	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Warrant Liabilities	Warrant liabilities In September 2020, in connection with the IPO, SVAC issued Public Warrants to purchase shares of the SVAC Class A common stock at $11.50 per share. Simultaneously with the consummation of the IPO, SVAC issued Private Placement Warrants to purchase shares of its Class A common stock at $11.50 per share to the Sponsor and to SVAC’s underwriters. In July 2021, in connection with the Business Combination transaction described in Note 3, additional Public Warrants and Private Placement Warrants were issued to SVAC common stockholders, including the Forward Purchasers. In December 2021, the Company announced that it would redeem all of the Public Warrants and Private Placement Warrants that remained outstanding as of 5:00 p.m., New York time, on January 19, 2022 (the “Redemption Time”). Pursuant to the terms of the Warrant Agreement, prior to the Redemption Time, the warrant holders were permitted to exercise their warrants either (a) on a cash basis by paying the exercise price of $11.50 per warrant in cash or (b) on a “cashless basis,” in which case the holder would receive 0.265 shares of Class A common stock per warrant. As a result of the redemption notice for the Public Warrants and Private Placement Warrants, the valuation method for the Private Placement Warrants was changed from the Monte Carlo Simulation to utilizing a fair value based on the publicly traded closing price of the Public Warrants given that, in connection with the terms of the redemption notice, the exercise and settlement provision of the Public Warrants and Private Placement Warrants were substantially the same. Such fair value determination represents a Level 2 fair value input. On January 26, 2022, the Company completed the redemption of all of its outstanding warrants that were issued under the Warrant Agreement and that remained outstanding at the Redemption Time, at a redemption price of $0.10 per warrant. Between January 1, 2022, and the Redemption Time, warrant holders elected to exercise 126,641 warrants on a cash basis for $1.5 million, and 17,859,466 warrants on a “cashless basis,” resulting in the issuance by the Company of 4,859,162 shares of Class A common stock. On January 26, 2022, the Company redeemed 1,370,760 warrants for $0.1 million, which was recorded as an expense in the change of fair value of warrant liabilities in other income (expenses), net in the unaudited condensed consolidated statements of operations. The warrant shares were issued in transactions not requiring registration under the Securities Act in reliance on the exemption contained in Section 3(a)(9) of the Securities Act. Upon completion of the redemption, the Public Warrants ceased trading on the Nasdaq and were deregistered, to the extent unsold. For the Public Warrants and Private Placement Warrants exercised through the Redemption Time, the warrants were marked to market through the settlement date utilizing the publicly traded closing stock price of the Public Warrants on the settlement date, with changes in the fair value through the settlement date recorded as change of fair value of warrant liabilities in other income (expenses), net in the unaudited condensed consolidated statements of operations. Upon settlement, the remaining warrant liabilities were derecognized and the liabilities and cash received from warrant holders was recorded as consideration for the common shares issued (an increase of $54.2 million was recorded to additional paid in capital). There were no Level 3 warrant liabilities outstanding during the three months ended March 31, 2022. The following table presents information about the Company’s movement in its Level 1 and Level 2 warrant liabilities measured at fair value during the three months ended March 31, 2022 (in millions): (in millions) Public Warrants (Level 1) Private Placement Warrants (Level 2) Total Balance at December 31, 2021 $ 36.1 $ 28.6 $ 64.7 Warrants exercised for Class A common stock (28.9) (24.0) (52.9) Change in fair value of the warrant liabilities (7.2) (4.6) (11.8) Balance at March 31, 2022 $ — $ — $ —

Shareholder's equity

Shareholder's equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Shareholder's equity	Shareholders’ equityAs mentioned in Note 1, the equity structure had been restated in all the comparative periods up to the Closing Date to reflect the number of shares of the Company’s Class A common stock, $0.0001 par value per share, issued to Legacy Cyxtera’s shareholder in connection with the Business Combination. Accordingly, the shares and corresponding capital amounts and earnings per share prior to the Business Combination have been retroactively restated as of January 1, 2021 to 115,745,455 shares, as shown in the unaudited condensed consolidated statement of changes in shareholders’ equity. The Company’s authorized share capital consists of 510,000,000 shares of capital stock, of which 500,000,000 are designated as Class A common stock, and 10,000,000 are designated as preferred stock. As of December 31, 2020, Legacy Cyxtera had 115,745,455 shares of Class A common stock issued and outstanding, which shares were owned by SIS. On February 19, 2021, Cyxtera redeemed, cancelled and retired 9,645,455 shares of its Class A common stock, held by SIS, in exchange for the payment of $97.9 million by the Company to SIS. From January 1, 2022 through the Redemption Time, with the redemption of the warrants, 7,970,730 Public Warrants and 8,576,940 Private Placement Warrants, respectively, were exercised in accordance with the terms of the Warrant Agreement, resulting in the issuance of 4,859,162 shares of Class A common stock. In addition, on January 31, 2022, the Company issued a total of 7,500,000 Optional Shares for an aggregate purchase price of $75.0 million. As of March 31, 2022, the Company had 178,566,352 shares of Class A common stock issued and outstanding, of which 61.5% was owned by SIS. As of March 31, 2022 and December 31, 2021, there were no shares of preferred stock issued or outstanding.

Stock-based compensation

Stock-based compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock-based compensation	Stock-based compensation Stock-based compensation includes stock options, RSUs, PSUs and class B profit units, which are awarded to employees, and directors of the Company. Stock-based compensation expense is recognized on a straight-line basis over the requisite service period of the award based on its grant date fair value. Stock-based compensation expense is included within cost of revenues, excluding depreciation and amortization, and selling, general and administrative expense in the unaudited condensed consolidated statements of operations. SIS Holdings LP Class B Profit Units All awards under the SIS Holdings LP Class B Unit Plan (the “SIS Plan”) were issued in 2018, 2019 and 2020 (none were issued in 2021 or 2022). The stock-based compensation cost was as follows (in millions) and included in the following captions in the accompanying unaudited condensed consolidated statements of operations: Three Months Ended March 31, 2022 2021 Costs of revenues, excluding depreciation and amortization $ — $ 0.1 Selling, general and administrative expenses 0.2 1.7 Total $ 0.2 $ 1.8 No related income tax benefit was recognized for the three months ended March 31, 2022 and March 31, 2021. As of March 31, 2022, total equity-based compensation costs related to 22,913 unvested Class B Units not yet recognized totaled $1.7 million, which is expected to be recognized over a weighted-average period of 2 years. 2021 Omnibus Incentive Plan On July 29, 2021, the Company adopted the 2021 Omnibus Incentive Plan (the “2021 Plan”). The total amount of shares of Class A common stock authorized for issuance under the 2021 Plan was 13,278,299. Stock options, RSUs and PSUs are granted under and governed by the 2021 Plan. Stock Options Stock options transactions for the three months ended March 31, 2022, were as follows: Shares Subject to Options Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding from January 1, 2022 849,233 $ 9.55 — $ — Granted — $ — Exercised — $ — Expired/forfeited (24,914) $ 9.55 Outstanding at March 31, 2022 824,319 $ 9.55 9.4 $ 2,200,932 Exercisable, March 31, 2022 — $ — — $ — Unvested and expected to vest, March 31, 2022 824,319 $ 9.55 9.4 $ 2,200,932 As of March 31, 2022, the total unrecognized stock-based compensation, related to unvested stock options was approximately $1.7 million, before income taxes, and is expected to be recognized over a weighted average period of approximately 3.4 years. Total stock options compensation expense for the three months ended March 31, 2022 was approximately $0.1 million, net of actual forfeitures, and is recorded in selling, general and administrative expenses in the unaudited condensed consolidated statements of operations. The related income tax benefit for the three months ended March 31, 2022 was inconsequential. Restricted Stock Units The RSUs transactions for the quarter ended March 31, 2022 were as follows: Shares Subject to RSUs Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Weighted Average Grant Date Fair Value Outstanding from January 1, 2022 3,335,811 $ — — $ — $ 9.32 Granted 1,615,129 $ — $ 11.66 Exercised — $ — $ — Expired/forfeited (84,231) $ — $ 9.30 Outstanding at March 31, 2022 4,866,709 $ — 1.6 $ 59,471,184 $ 10.09 Exercisable, March 31, 2022 — $ — — $ — $ — Unvested and expected to vest, March 31, 2022 4,866,709 $ — 1.6 $ 59,471,184 $ 10.09 As of March 31, 2022, the total unrecognized stock-based compensation, net of actual forfeitures, related to unvested RSUs was approximately $42.4 million, before income taxes, and is expected to be recognized over a weighted period of approximately 2.5 years. Total RSU compensation expense totaled $3.0 million, net of actual forfeitures, for the three months ended March 31, 2022, of which approximately $2.8 million is recorded in selling, general and administrative expenses and $0.2 million is recorded in cost of revenues, excluding depreciation and amortization, in the unaudited condensed consolidated statements of operations. The related income tax benefit for the three months ended March 31, 2022, was inconsequential. Performance Stock Units During the three months ended March 31, 2022, the compensation committee of the Company’s board of directors granted PSUs under the Company’s 2021 Plan. The Company has the intent and ability to settle the PSU awards with shares. The PSU will vest based on both the passage of time and achievement of certain market and performance conditions that are measured over a three-year rolling period beginning on January 1, 2022, subject to continued employment on the applicable vesting dates. The actual number of PSUs earned with respect to an award is based upon the target number of PSUs, multiplied by a “payout percentage” ranging from 0% to 200% and determined by the level of performance against pre-established performance or market components. The PSUs have been bifurcated into two awards: total shareholder return (“TSR”) based on achievement of certain market conditions, and adjusted earnings before interest, taxes, depreciation and amortization (“Adj. EBITDA”) based on achievement of certain performance conditions, each of which is weighted one-half of the PSU, as shown in more detail below. Payout Percentage Metric Weight Performance Period Vesting Period Index Below Threshold Threshold Target Maximum TSR 50% 3-year rolling Annual (33.33% per year) Russell 1000 0% 50% (25th percentile) 100% (50th percentile) 200% (75th percentile) Adj. EBITDA 50% 3-year rolling Annual (33.33% per year) N/A 0% 50% 100% 200% The award of PSUs will vest in three equal installments on the 1 st , 2 nd and 3 rd anniversary of the grant date. The PSUs will be earned based on the Company’s achievement of the applicable performance goals as follows: • Year One of the performance period: Award will vest based on performance during the first year of the performance period; • Year Two: Award will vest based on cumulative performance during the first two years of the performance period; • Year Three: Award will vest based on cumulative performance during the three years of the performance period. The payout percentage will be linearly interpolated if achievement falls between the threshold and maximum level of performance. TSR measured PSUs were valued using a Monte-Carlo simulation. The key assumptions used to determine the fair value of the TSR measured PSUs at March 23, 2022 (grant date) using the Monte Carlo simulation model were as follows: Inputs As of March 23, 2022 Risk-free interest rate 2.3 % Volatility for Least-Square Monte Carlo Model 39.0 % Expected Term in Years 2.8 Dividend Yield — % Fair Value of Class A Common Stock $ 11.66 Adj. EBITDA measured PSUs for the first year were valued using the fair value of the Company’s Class A common stock on the date of the grant, which was $11.66 multiplied by the number of shares of Class A common stock expected to be granted based on the Company’s estimate of future Adj. EBITDA, to be realized in Year One. The Adj. EBITDA measured PSUs for Year Two and Year Three, are not deemed granted for accounting purposes because the adjusted EBITDA targets for 2023 and 2024 are not yet determinable as they have not been approved by the board of directors. The following table summarizes PSU activity for the three months ended March 31, 2022: Number of Units Weighted-average grant date fair value Non-vested as of January 1, 2022 — $ — Granted (1) 317,877 $ 15.78 Vested — $ — Forfeited — $ — Non-vested as of March 31, 2022 317,877 $ 15.78 (1) Year Two and Year Three Adj. EBITDA measured PSUs are excluded from the total amount of granted PSUs, since such units are not deemed granted for accounting purposes as of March 31, 2022. 158,938 of Year Two and Year Three Adj. EBITDA measured PSUs were excluded . As of March 31, 2022, the total unrecognized stock-based compensation, related to unvested PSUs was approximately $5.0 million, before income taxes, and is expected to be recognized over a weighted period of approximately 1.7 years. No PSUs vested during the three months ended March 31, 2022. The Company estimates that all PSU awards outstanding at March 31, 2022 will vest. Total PSU compensation expense was inconsequential for the three months ended March 31, 2022 and was recorded in selling, general and administrative expenses in the unaudited condensed consolidated statements of operations. The related income tax benefit for the year ended March 31, 2022 was inconsequential.

Income taxes

Income taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The income tax expense for the three months ended March 31, 2022, was $4.1 million. The income tax expense on the pre-tax loss for the three months ended March 31, 2022 was primarily attributable to incremental valuation allowance recorded due to continued losses in the U.S. and other loss jurisdictions as well as tax expense recorded in foreign jurisdictions where income is generated. The effective tax rate was different than the amount expected at the statutory federal income tax rate as a result of additional state income tax benefits, an increase in the valuation allowance recorded on certain deferred tax assets that management believes are not more likely than not to be fully realized in future periods, certain nondeductible remuneration to covered employees under Internal Revenue Code section 162(m), nondeductible equity-based compensation, and the change in fair value of the warrant liabilities. The income tax (benefit) for the three months ended March 31, 2021, was $(12.9) million. The income tax (benefit) on the pre-tax loss for the three months ended March 31, 2021 was different than the amount expected at the statutory federal income tax rate primarily as a result of additional state income tax benefits, an increase in the valuation allowance recorded on certain deferred tax assets that management believes are not more likely than not to be fully realized in future periods, and nondeductible equity-based compensation.

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Letters of credit As of March 31, 2022 and December 31, 2021, the Company had $4.9 million and $5.7 million, respectively, in irrevocable stand-by letters of credit outstanding, which were issued primarily to guarantee data center lease obligations and another subsidiary’s performance under a line of credit. As of March 31, 2022 and December 31, 2021, no amounts had been drawn on any of these irrevocable standby letters of credit. Lease commitments The Company entered into an agreement for power redundancy supply at a facility in Massachusetts. The service contract will contain a lease of power redundancy equipment, however, the lease has not yet commenced as of March 31, 2022. This lease is expected to commence in 2022 or 2023, with a total lease commitment of $22.4 million. Purchase obligations As of March 31, 2022 and December 31, 2021, the Company had approximately $3.2 million and $4.4 million, respectively, of purchase commitments related to IT licenses, utilities and colocation operations. These amounts do not represent the Company’s entire anticipated purchases in the future but represent only those items for which the Company was contractually committed as of March 31, 2022 and December 31, 2021, respectively. Litigation From time to time, the Company is involved in certain legal proceedings and claims that arise in the ordinary course of business. It is the Company’s policy to accrue for amounts related to these legal matters if it is probable that a liability has been incurred and the amount is reasonably estimable. In the opinion of the management, based on consultations with counsel, the results of any of these matters individually and in the aggregate, are not expected to have a material effect on the Company’s results of operations, financial condition or cash flows.

Segment reporting

Segment reporting	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment reporting	Segment reporting Cyxtera’s chief operating decision maker is its Chief Executive Officer. The Company manages its operations as a single operating segment for the purposes of assessing performance and making operating decisions – the Colocation segment. The Company derives almost all of its Colocation revenue from sales to customers in the United States, based upon the service address of the customer. Revenue derived from customers outside the United States, based upon the service address of the customer, was not significant in any individual foreign country.

Certain relationships and relat

Certain relationships and related party transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Certain relationships and related party transactions	Certain relationships and related party transactions Relationships The Company is party to the following agreements and key relationships: • Promissory Notes On March 31, 2019, Appgate Inc., formerly known as Cyxtera Cybersecurity, Inc. (“Appgate”) issued promissory notes to each of the Company and Cyxtera Management, Inc. (the “Management Company”) (together, the “Promissory Notes”) evidencing certain funds borrowed by Appgate from each of the Company and the Management Company as well as potential future borrowings. The Promissory Notes had a combined initial aggregate principal amount of $95.2 million and provided for additional borrowings during the term of the Promissory Notes for additional amounts not to exceed approximately $52.5 million in the aggregate (approximately $147.7 million including the initial aggregate principal amount). Interest accrued on the unpaid principal balance of the Promissory Notes at a rate per annum equal to 3%; provided; that with respect to any day during the period from the date of the Promissory Notes through December 31, 2019, interest was calculated assuming that the unpaid principal balance of the Promissory Notes on such day is the unpaid principal amount of the notes on the last calendar day of the quarter in which such day occurs. Interest was payable upon the maturity date of the notes. Each of the Promissory Notes had an initial maturity date of March 30, 2020, and was extended through March 30, 2021 by amendments entered into effective as of March 30, 2020. On February 8, 2021, the Company received $120.6 million from Appgate. Approximately $117.1 million and $1.1 million were designated as repayment of the full balance of the $154.3 million outstanding principal and accrued interest, respectively, on the Promissory Notes at that time. On the same date, the Company issued a payoff letter to Appgate extinguishing the remaining unpaid balance of the Promissory Notes. The remainder of the payment was designated as settlement of trade balances with Appgate and its subsidiaries and other amounts due to / from under the Transition Services Agreement described above. As a result, during the three months ended March 31, 2021, the Company wrote-off the ending balance in the allowance for loan losses on the Promissory Notes. There was no activity in allowance for loan losses on the Promissory Notes during the three months ended March 31, 2022. The activity in the allowance for loan losses on the Promissory Notes during the year ended December 31, 2021 was as follows (in millions): December 31, 2021 Beginning balance $ 30.0 Provision for loan losses — Reversal of allowance — Net reversal of allowance for loan losses — Write offs (30.0) Ending balance $ — • Sponsor’s investment in the First Lien Term Facility At March 31, 2021, until the date of the Business Combination, some of the controlled affiliates of BC Partners, the largest equity owner of SIS, held investments in the Company’s 2017 First Lien Term Facility and 2019 First Lien Term Facility. The total investment represented less than 5% of the Company’s total outstanding debt. As of March 31, 2022 and December 31, 2021, the controlled affiliates of BC Partners no longer held investments in the Company’s 2017 First Lien Term Facility and 2019 First Lien Term Facility. • Optional Share Purchase On July 21, 2021, immediately prior to the consummation of the Business Combination, Legacy Cyxtera entered into the Optional Purchase Letter Agreement with the Forward Purchasers, pursuant to which the Forward Purchasers agreed to amend the Optional Share Purchase Agreement to limit the number of Optional Shares available for purchase by the Forward Purchasers in the six-month period following the Business Combination from 7.5 million shares to 3.75 million shares. In addition, on such date, the Forward Purchasers agreed to assign the rights to purchase up to 3.75 million shares under the Optional Share Purchase Agreement to SIS. In January 2022, SIS and the Forward Purchasers exercised their option to purchase 7.5 million Optional Shares at a price of $10.00 per share, for an aggregate purchase price of $75.0 million. • Relationships with certain members of the Company’s board of directors The chairman of the board of directors is one of the founders and the chairman of Emerge Americas, LLC, which operates the premier technology conference in Miami, Florida. As of March 31, 2022 and December 31, 2021, the Company did not owe any significant amounts to Emerge Americas, LLC. Since 2019 until the date of the Business Combination, one of the directors of the Company was also a member of the board of directors of Pico Quantitative Trading, LLC (“Pico”). Pico offers a comprehensive range of network products to meet the full spectrum of electronic trading requirements. During the three months ended March 31, 2021, the Company billed and collected from Pico $0.1 million. As of March 31, 2022 and December 31, 2021, Pico is no longer a related party of the Company. Two directors of the Company are also members of the board of directors of Presidio Holdings (“Presidio”), a provider of digital transformation solutions built on agile secure infrastructure deployed in a multi-cloud world with business analytics. During the three months ended March 31, 2022 the Company paid $0.1 million to Presidio for services (no amounts paid in 2021). As of March 31, 2022 and December 31, 2021, the Company did not owe any amounts to Presidio. Presidio is also a customer and referral partner of the Company. During the three months March 31, 2022 the Company billed Presidio $0.1 million (the amount billed during the three months March 31, 2021 was inconsequential). During the three months ended March 31, 2022 and 2021, the amounts the Company collected from Presidio were inconsequential. One of the directors of the Company is also a member of the board of directors of Altice USA, Inc. (“Altice”), a vendor and a customer of the Company. The amount paid and due for the three months ended March 31, 2022 was inconsequential. The amounts billed and collected for the three months ended March 31, 2022 were $0.1 million and $0.1 million, respectively. During the three months ended March 31, 2021 Altice was not a related party of the Company. Related party transactions and balances The following table summarizes the Company’s transactions with related parties for each of the three months ended March 31, 2022, and 2021 (in millions): Three Months Ended March 31, 2022 2021 Revenues (1) $ 0.3 $ 0.3 Selling, general and administrative expenses (2) 0.1 — (1) Revenues for the three months ended March 31, 2022 and 2021 include amounts recognized from contracts with Appgate and Presidio. Appgate is an affiliate of the Company and a direct subsidiary of SIS. (2) Selling, general and administrative expenses include amounts incurred from contracts with Presidio. As of March 31, 2022 there were no receivables or payables with related parties. As of December 31, 2021, the Company had the following balances arising from transactions with related parties (in millions): December 31, 2021 Accounts receivable (1) $ 0.1 Accounts payable (2) 0.6 (1) Accounts receivable at December 31, 2021, include trade receivables due from Appgate. (2) Accounts payable at December 31, 2021, include amounts due to trade payables due to Appgate.

Basis of presentation and sig_2

Basis of presentation and significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation and use of estimatesThe accompanying unaudited condensed consolidated financial statements have been prepared by Cyxtera and reflect all adjustments, consisting only of normal recurring adjustments, which in the opinion of management are necessary to fairly state the financial position and the results of operations for the interim periods presented. The unaudited condensed consolidated balance sheet data as of December 31, 2021 has been derived from audited consolidated financial statements as of that date. The unaudited condensed consolidated financial statements have been prepared in accordance with the regulations of the Securities and Exchange Commission (“SEC”) but omit certain information and footnote disclosure necessary to present the statements in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). For further information, refer to the Company’s consolidated financial statements as of and for the year ended December 31, 2021, included in the Annual Report on Form 10-K filed with the SEC on March 25, 2022 (the “Annual Report on Form 10-K”). Results for the interim periods are not necessarily indicative of the results for the entire fiscal year.
Use of estimates	Basis of presentation and use of estimatesThe accompanying unaudited condensed consolidated financial statements have been prepared by Cyxtera and reflect all adjustments, consisting only of normal recurring adjustments, which in the opinion of management are necessary to fairly state the financial position and the results of operations for the interim periods presented. The unaudited condensed consolidated balance sheet data as of December 31, 2021 has been derived from audited consolidated financial statements as of that date. The unaudited condensed consolidated financial statements have been prepared in accordance with the regulations of the Securities and Exchange Commission (“SEC”) but omit certain information and footnote disclosure necessary to present the statements in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). For further information, refer to the Company’s consolidated financial statements as of and for the year ended December 31, 2021, included in the Annual Report on Form 10-K filed with the SEC on March 25, 2022 (the “Annual Report on Form 10-K”). Results for the interim periods are not necessarily indicative of the results for the entire fiscal year.
Risks and uncertainties	Risks and uncertainties Preparing financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Examples include, but are not limited to, asset and goodwill impairments, allowance of doubtful accounts, future asset retirement obligations and the potential outcome of future tax consequences of events that have been recognized in the unaudited condensed consolidated financial statements. Actual results and outcomes may differ from these estimates and assumptions due to risks and uncertainties, including uncertainty in the current economic environment. Coronavirus (COVID-19) Update During the three months ended March 31, 2022, the COVID-19 pandemic did not have a material impact on our unaudited condensed consolidated financial statements. The full impact that the ongoing COVID-19 pandemic will have on our future unaudited condensed consolidated financial statements remains uncertain and ultimately will depend on many factors, including the duration and potential cyclicity of the health crisis, further public policy actions to be taken in response, as well as the continued impact of the pandemic on the global economy and our customers and vendors. We will continue to evaluate the nature and extent of these potential impacts to our business and unaudited condensed consolidated financial statements.
Leases	Leases The Company determines if an arrangement is or contains a lease at its inception. The Company enters into lease arrangements primarily for data center spaces, office spaces and equipment. The Company recognizes a right-of-use (“ROU”) asset and lease liability on the consolidated balance sheet for all leases with a term longer than 12 months, including renewals. ROU assets represent the Company’s right to use an underlying asset for the lease term. Lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are classified and recognized at the commencement date. Lease liabilities are measured based on the present value of fixed lease payments over the lease term. ROU assets consist of (i) initial measurement of the lease liability; (ii) lease payments made to the lessor at or before the commencement date less any lease incentives received; and (iii) initial direct costs incurred by the Company. Lease payments may vary because of changes in facts or circumstances occurring after the commencement, including changes in inflation indices. Variable lease payments that depend on an index or a rate (such as the Consumer Price Index or a market interest rate) are included in the measurement of ROU assets and lease liabilities using the index or rate at the commencement date. Variable lease payments that do not depend on an index or a rate are excluded from the measurement of ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. Since most of the Company’s leases do not provide an implicit rate, the Company uses its own incremental borrowing rate (“IBR”) on a collateralized basis in determining the present value of lease payments. The Company utilizes a market-based approach to estimate the IBR. The approach requires significant judgment. Therefore, the Company utilizes different data sets to estimate IBRs via an analysis of (i) yields on our outstanding public debt (ii) yields on comparable credit rating composite curves and (iii) yields on comparable market curves. The majority of the Company’s lease arrangements include options to extend the lease. If the Company is reasonably certain to exercise such options, the periods covered by the options are included in the lease term. The Company recognizes rental expenses for operating leases that contain predetermined fixed escalation clauses on a straight-line basis over the expected term of the lease. The depreciable lives of certain fixed assets and leasehold improvements are limited by the expected lease term. The Company has certain leases with an initial term of 12 months or less that do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. For such leases, the Company elected not to recognize any ROU asset or lease liability on the consolidated balance sheet. The Company has lease agreements with lease and non-lease components. The Company elected to account for the lease and non-lease components as a single lease component for all classes of underlying assets for which the Company has identified lease arrangements with non-lease components.
Update to significant accounting policies and Recent accounting pronouncements	Update to significant accounting policies The Company’s significant accounting policies are detailed in Note 2 - Summary of Significant Accounting Policies of the Company’s consolidated financial statements as of and for the year ended December 31, 2021 included within the Annual Report Form 10-K. Significant updates to our accounting policies as a result of the adoption of Accounting Standard Update (“ASU”) 2016-12, Leases , as well as the initial implementation guidance and subsequent amendments to ASU 2017-13, ASU 2018-01, ASU 2018-10, ASU 2018-11, ASU 2018-20 and ASU 2020-05 (collectively referred to as “Topic 842”) for the three months ended March 31, 2022 are discussed below. The Company is as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, as amended (“JOBS Act”). The JOBS Act provides that an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting standards, such that an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company has elected to avail itself of the extended transition periods and, as a result, the Company will not be required to adopt new or revised accounting standards on the adoption dates required for other public companies so long as the Company remains an emerging growth company. In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, Reference Rate Reform , which provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022 that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments are effective for all entities as of March 12, 2020, through December 31, 2022. The Company is evaluating the impact that the adoption of this standard will have on its unaudited condensed consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326)-Measurement of Credit Losses on Financial Instruments , which requires companies to measure and recognize lifetime expected credit losses for certain financial instruments, including trade accounts receivable. Expected credit losses are estimated using relevant information about past events, including historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount. This amendment is effective commencing in 2023 with early adoption permitted, and the Company expects to adopt the new standard on the effective date or the date it no longer qualifies as an emerging growth company, whichever is earlier. Entities are permitted to use a modified retrospective approach. The Company is evaluating the impact that the adoption of this standard will have on its unaudited condensed consolidated financial statements. In December 2019, the Financial Accounting Standards Board issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. We adopted the amendments in Topic 740 as of January 1, 2022, without a material impact on our unaudited condensed consolidated financial statements. In February 2016, FASB issued Topic 842. Topic 842 replaces the guidance in former ASC Topic 840, Leases. The new lease guidance increases transparency and comparability among organizations by requiring the recognition of the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s future obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) an operating lease right-of-use (“ROU”) asset, which is an asset that represents the lessee's right to use, or control the use of, a specified asset for the lease term. The accounting for the Company’s finance leases remains substantially unchanged . Topic 842 allows entities to adopt using one of two methods: the modified retrospective transition method or the alternative transition method. During the three months ended March 31, 2022, the Company adopted Topic 842, with an effective date of January 1, 2022, using the alternative transition method. Therefore, results for reporting periods beginning after January 1, 2022 are presented under Topic 842, while comparative information has not been restated and continues to be reported under accounting standards in effect for those periods. The Company recognized the cumulative effects of initially applying the standard as an adjustment to the opening balance of retained earnings in the period of adoption.
Revenue	The Company disaggregates revenue from contracts with customers into recurring revenue and non-recurring revenues. Cyxtera derives the majority of its revenues from recurring revenue streams, consisting primarily of colocation service fees. These fees are generally billed monthly and recognized ratably over the term of the contract. The Company’s non-recurring revenues are primarily comprised of installation services related to a customer’s initial deployment and professional services the Company performs. These services are considered to be non-recurring because they are billed typically once, upon completion of the installation or the professional services work performed. The majority of these non-recurring revenues are typically billed on the first invoice distributed to the customer in connection with their initial installation. However, revenues from installation services are deferred and recognized ratably over the period of the contract term in accordance with ASC Topic 606, R evenue from Contracts with Customers (“ASC Topic 606”) as discussed in Note 2 to the Company’s consolidated financial statements as of and for the year ended December 31, 2021, included within the Annual Report on Form 10-K.

Basis of presentation and sig_3

Basis of presentation and significant accounting policies (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Schedule Of Cumulative Effect of the Changes Made to Consolidated Balance Sheet From the Adoption of Topic 842	The cumulative effect of the changes made to our unaudited condensed consolidated January 1, 2022 balance sheet from the adoption of Topic 842 was as follows (in millions): Balance Sheet Balances at December 31, 2021 Adjustments due to adoption of Topic 842 Balances at January 1, 2022 Assets Operating lease right-of-use assets $ — $ 290.6 $ 290.6 Intangible assets, net 519.8 (32.7) 487.1 Liabilities Current portion of operating lease liabilities — 32.2 32.2 Operating lease liabilities, less current portion — 319.0 319.0 Other liabilities 158.2 (93.3) 64.9

Business combination (Tables)

Business combination (Tables)	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule Of Reverse Recapitalization	The following table reconciles the elements of the Business Combination to the unaudited condensed consolidated statement of cash flows and the unaudited condensed consolidated statement of changes in shareholders’ equity for the year ended December 31, 2021: Recapitalization SVAC’s trust and cash, net of redemptions $ 143.9 Cash - PIPE Investment 250.0 Cash - Forward Purchase 100.0 Less: transaction costs and advisory fees, net of tax benefit (59.4) Net proceeds from reverse recapitalization 434.5 Plus: non-cash net liabilities assumed (1) (41.8) Less: accrued transaction costs and advisory fees (0.4) Net contributions from reverse recapitalization $ 392.3 (1) Represents $41.8 million of non-cash Public Warrants and Private Placement Warrants liabilities assumed.

Loss per common share (Tables)

Loss per common share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Net Loss Per Share	The Company excluded the following potential shares of Class A common stock, from the computation of diluted net loss per share during the three month period ended March 31, 2022 because including them would have an anti-dilutive effect: Three Months Ended 2022 Unvested employee stock options 824,319 Unvested RSUs 4,866,709 Unvested PSUs 317,877 Optional shares (1) 7,500,000 Total shares 13,508,905 (1) Optional shares were excluded from the computation of diluted loss per share for the periods these instruments represented potential dilutive common stock equivalents during the three months ended March 31, 2022.

Restructuring, impairment, si_2

Restructuring, impairment, site closures and related costs (Tables)	3 Months Ended
	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Impairment Site Closures and Related Costs	The activity in restructuring liability reserve in for the three months ended March 31, 2022 and 2021 was as follows (in millions): Three Months Ended March 31, 2022 2021 Balance at beginning of the period $ 62.3 $ — Lease termination costs — 5.4 Reclassification of the restructuring liability reserve to ROU Asset (53.0) — Accretion 0.2 0.2 Payments (0.3) (1.6) Balance at end of the period $ 9.2 $ 4.0

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Three Months Ended March 31, 2022 2021 Recurring revenue $ 173.7 $ 164.7 Non-recurring revenues 8.7 8.2 Total $ 182.4 $ 172.9
Schedule of Contract Balances	The following table summarizes the opening and closing balances of the Company’s receivables; contract asset, current; contract asset, non-current; deferred revenue, current; and deferred revenue, non-current (in millions): Receivables Contract asset, current Contract asset, non-current Deferred revenue, current Deferred revenue, non-current Closing balances as of December 31, 2020 $ 33.5 $ 23.8 $ 16.8 $ 15.6 $ 18.1 Net decrease during the three months ended March 31, 2021 (20.9) (1.8) (2.7) (0.5) (2.0) Closing balances as of March 31, 2021 $ 12.6 $ 22.0 $ 14.1 $ 15.1 $ 16.1 Closing balances as of December 31, 2021 $ 18.3 $ 17.2 $ 12.1 $ 14.5 $ 14.7 Net increase (decrease) during the three months ended March 31, 2022 9.4 (1.1) 0.5 — (0.6) Closing balances as of March 31, 2022 $ 27.7 $ 16.1 $ 12.6 $ 14.5 $ 14.1

Balance sheet components (Table

Balance sheet components (Tables)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Allowance For Doubtful Accounts	The activity in the allowance for doubtful accounts during t he three months ended March 31, 2022 and 2021 was as follows (in millions): March 31, 2022 December 31, 2021 Beginning balance $ 0.3 $ 1.4 (Write-offs) Recoveries — 0.1 Reversal of allowance (0.3) (1.2) Impact of foreign currency translation — — Ending balance $ — $ 0.3 December 31, 2021 Beginning balance $ 30.0 Provision for loan losses — Reversal of allowance — Net reversal of allowance for loan losses — Write offs (30.0) Ending balance $ —
Schedule of Prepaid and Other Current assets	Prepaid and other current assets consist of the following as of March 31, 2022 and December 31, 2021 (in millions): March 31, 2022 December 31, 2021 Contract asset, current $ 16.1 $ 17.2 Prepaid expenses 17.9 19.3 Other current assets 1.1 1.0 Total prepaid and other current assets $ 35.1 $ 37.5

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	Summarized below are the carrying values for the major classes of amortizing intangible assets as of March 31, 2022 and December 31, 2021 (in millions): March 31, 2022 December 31, 2021 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Customer relationships $ 768.0 $ (296.5) $ 471.5 $ 768.0 $ (281.4) $ 486.6 Favorable leasehold interests — — — 57.6 (24.9) 32.7 Developed technology 0.3 (0.3) — 0.3 (0.3) — Total intangibles $ 768.3 $ (296.8) $ 471.5 $ 825.9 $ (306.6) $ 519.3
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The Company estimates annual amortization expense for existing intangible assets subject to amortization is as follows (in millions): For the years ending December 31: Remaining 2022 $ 45.8 2023 60.3 2024 60.3 2025 60.3 2026 60.3 Thereafter 184.5 Total amortization expense $ 471.5

Fair value measurements (Tables

Fair value measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Carrying Value and Fair Value of Other Financial Instruments	The carrying values and fair values of other financial instruments are as follows as of March 31, 2022 and December 31, 2021 (in millions): March 31, 2022 December 31, 2021 Carrying value Fair value Carrying value Fair value 2017 First Lien Term Facility $ 776.4 $ 780.0 $ 778.3 $ 780.0 2019 First Lien Term Facility 97.3 98.0 97.5 98.0 Revolving Facility — — 2.7 2.7 2021 Revolving Facility — — 37.3 37.3

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Summary of Lease Expenses	The components of lease expenses and income are as follows (in millions): Three Months Ended Finance lease cost Amortization of ROU assets (1) $ 14.2 Interest on lease liabilities (2) 28.4 Total finance lease cost 42.6 Operating lease cost (3) 15.0 Variable lease cost (4) 3.7 Sublease income (5) (3.0) Total lease cost $ 58.3 (1) Amortization of assets under leases is included in depreciation and amortization expense in the Company’s unaudited condensed consolidated statement of operations. (2) Interest on lease liabilities is included in interest expense, net in the Company’s unaudited condensed consolidated statement of operations. (3) Operating lease costs for data centers is included in cost of revenue, excluding depreciation and amortization in the Company’s unaudited condensed consolidated statement of operations. Operating lease costs for office leases is included in selling, general, and administrative expenses in the Company’s unaudited condensed consolidated statement of operations. (4) Variable lease costs for operating leases is included in costs of revenue, excluding depreciation and amortization in the Company’s unaudited condensed consolidated statement of operations. (5) The Company has subleases for certain data centers with Lumen Technologies, Inc. formerly known as CenturyLink Inc. (“Lumen”), and the Company also leases a portion of an owned location to Lumen. The Company also has a sublease of the Addison office space described in Note 5. Sublease and lease income of $2.5 million in connection with Lumen is included in revenues in the Company’s unaudited condensed consolidated statement of operations. Sublease income of $0.5 million in connection with Addison office lease is included in restructuring, impairment, site closures, and related costs in the Company’s unaudited condensed consolidated statement of operations. Lease costs for short-term leases was inconsequential for the three months ended March 31, 2022. Other Information Other information related to leases is as follows (in millions): Three Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 25.3 Operating cash flows from operating leases 15.3 Financing cash flows from finance lease 11.7 Right-of-use assets obtained in exchange for lease liabilities: Finance leases 143.7 Operating leases 274.7 As of March 31, 2022 Weighted-average remaining lease term - finance leases (1) 20.5 Weighted-average remaining lease term - operating leases (1) 10.0 Weighted-average discount rate - finance leases 9.1 % Weighted-average discount rate - operating lease 10.1 %
Maturities of Operating Lease Liabilities	Maturities of lease liabilities under Topic 842 as of March 31, 2022 are as follows (in millions): For the years ending: Operating Leases (1) Finance Leases Total Remaining 2022 $ 45.9 $ 112.9 $ 158.8 2023 60.9 147.2 208.1 2024 60.4 137.7 198.1 2025 51.9 140.0 191.9 2026 47.5 135.2 182.7 Thereafter 276.8 2,560.6 2,837.4 Total lease payments $ 543.4 $ 3,233.6 $ 3,777.0 Less: imputed interest (202.4) (2,115.9) (2,318.3) Total $ 341.0 $ 1,117.7 $ 1,458.7 (1) Minimum lease payments have not been reduced by minimum sublease rentals of $52.9 million due in the future under non-cancelable subleases.
Finance of Operating Lease Liabilities	Maturities of lease liabilities under Topic 842 as of March 31, 2022 are as follows (in millions): For the years ending: Operating Leases (1) Finance Leases Total Remaining 2022 $ 45.9 $ 112.9 $ 158.8 2023 60.9 147.2 208.1 2024 60.4 137.7 198.1 2025 51.9 140.0 191.9 2026 47.5 135.2 182.7 Thereafter 276.8 2,560.6 2,837.4 Total lease payments $ 543.4 $ 3,233.6 $ 3,777.0 Less: imputed interest (202.4) (2,115.9) (2,318.3) Total $ 341.0 $ 1,117.7 $ 1,458.7 (1) Minimum lease payments have not been reduced by minimum sublease rentals of $52.9 million due in the future under non-cancelable subleases.
Minimum Future Rentals to be Received	Future minimum lease receipts under operating lease obligations under Topic 842 as of March 31, 2022 are as follows (in millions): For the years ending: Lease receipts Remaining 2022 $ 9.1 2023 12.2 2024 12.2 2025 12.3 2026 12.4 Thereafter 4.1 Total minimum lease receipts $ 62.3
Schedule of Future Minimum Rental Payments for Operating Leases	The future minimum lease receipts and payments under operating leases obligations under ASC Topic 840 as of December 31, 2021 are as follows (in millions): For the years ending: Lease receipts Lease commitments (1) 2022 $ 12.2 $ 60.3 2023 12.2 59.7 2024 12.2 59.2 2025 12.2 50.6 2026 12.2 46.3 Thereafter 4.1 273.8 Total minimum lease receipts/payments $ 65.1 $ 549.9 (1) Minimum lease payments have not been reduced by minimum sublease rentals of $45.1 million due in the future under non-cancelable subleases.
Schedule of Future Minimum Lease Payments for Capital Leases	The future minimum lease payments under capital lease arrangements and sale-leaseback financings obligations under ASC Topic 840 as of December 31, 2021 are as follows (in millions): For the years ending: 2022 $ 135.1 2023 128.3 2024 118.5 2025 120.6 2026 119.3 Thereafter 2,285.0 Total minimum lease payments 2,906.8 Less: amount representing interest (1,930.5) Present value of net minimum lease payments 976.3 Less: current portion (38.5) Capital leases, net of current portion $ 937.8

Long-term debt (Tables)

Long-term debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following as of March 31, 2022 and December 31, 2021 (in millions): March 31, 2022 December 31, 2021 2017 First Lien Term Facility due May 2024 $ 776.4 $ 778.3 2019 First Lien Term Facility due May 2024 97.3 97.5 Revolving Facility due May 2022 — 2.7 Revolving Facility due November 2023 — 37.3 Less: unamortized debt issuance costs (6.7) (7.5) 867.0 908.3 Less: current maturities of long-term debt (9.2) (11.8) Long-term debt, net current portion $ 857.8 $ 896.5
Schedule of Maturities of Long-term Debt	The aggregate maturities of our long-term debt are as follows as of March 31, 2022 (in millions): For the years ending December 31: Principal amount Remaining 2022 $ 9.2 2023 9.2 2024 848.6 2025 — 2026 — Total $ 867.0
Schedule of Interest Expense Net	Interest expense, net for the three months ended March 31, 2022 and 2021 consist of the following (in millions): Three Months Ended March 31, 2022 2021 Interest expense on debt, net of capitalized interest $ 9.2 $ 16.2 Interest expense on finance leases 28.4 25.6 Amortization of deferred financing costs and fees 1.0 1.4 Total $ 38.6 $ 43.2

Warrant Liabilities (Tables)

Warrant Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Changes in Warrant Liability	The following table presents information about the Company’s movement in its Level 1 and Level 2 warrant liabilities measured at fair value during the three months ended March 31, 2022 (in millions): (in millions) Public Warrants (Level 1) Private Placement Warrants (Level 2) Total Balance at December 31, 2021 $ 36.1 $ 28.6 $ 64.7 Warrants exercised for Class A common stock (28.9) (24.0) (52.9) Change in fair value of the warrant liabilities (7.2) (4.6) (11.8) Balance at March 31, 2022 $ — $ — $ —

Stock-based compensation (Table

Stock-based compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Equity-based Compensation Cost	The stock-based compensation cost was as follows (in millions) and included in the following captions in the accompanying unaudited condensed consolidated statements of operations: Three Months Ended March 31, 2022 2021 Costs of revenues, excluding depreciation and amortization $ — $ 0.1 Selling, general and administrative expenses 0.2 1.7 Total $ 0.2 $ 1.8
Schedule of Stock Options Transactions	Stock options transactions for the three months ended March 31, 2022, were as follows: Shares Subject to Options Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding from January 1, 2022 849,233 $ 9.55 — $ — Granted — $ — Exercised — $ — Expired/forfeited (24,914) $ 9.55 Outstanding at March 31, 2022 824,319 $ 9.55 9.4 $ 2,200,932 Exercisable, March 31, 2022 — $ — — $ — Unvested and expected to vest, March 31, 2022 824,319 $ 9.55 9.4 $ 2,200,932
Schedule of Restricted Stock Unit, Activity	The RSUs transactions for the quarter ended March 31, 2022 were as follows: Shares Subject to RSUs Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Weighted Average Grant Date Fair Value Outstanding from January 1, 2022 3,335,811 $ — — $ — $ 9.32 Granted 1,615,129 $ — $ 11.66 Exercised — $ — $ — Expired/forfeited (84,231) $ — $ 9.30 Outstanding at March 31, 2022 4,866,709 $ — 1.6 $ 59,471,184 $ 10.09 Exercisable, March 31, 2022 — $ — — $ — $ — Unvested and expected to vest, March 31, 2022 4,866,709 $ — 1.6 $ 59,471,184 $ 10.09
Schedule of Performance Shares, Outstanding Activity	The following table summarizes PSU activity for the three months ended March 31, 2022: Number of Units Weighted-average grant date fair value Non-vested as of January 1, 2022 — $ — Granted (1) 317,877 $ 15.78 Vested — $ — Forfeited — $ — Non-vested as of March 31, 2022 317,877 $ 15.78 (1) Year Two and Year Three Adj. EBITDA measured PSUs are excluded from the total amount of granted PSUs, since such units are not deemed granted for accounting purposes as of March 31, 2022. 158,938 of Year Two and Year Three Adj. EBITDA measured PSUs were excluded .
Schedule of Assumptions Used for Estimating Fair Value	The key assumptions used to determine the fair value of the TSR measured PSUs at March 23, 2022 (grant date) using the Monte Carlo simulation model were as follows: Inputs As of March 23, 2022 Risk-free interest rate 2.3 % Volatility for Least-Square Monte Carlo Model 39.0 % Expected Term in Years 2.8 Dividend Yield — % Fair Value of Class A Common Stock $ 11.66
Share-based Payment Arrangement, Performance Shares, Activity	The PSUs have been bifurcated into two awards: total shareholder return (“TSR”) based on achievement of certain market conditions, and adjusted earnings before interest, taxes, depreciation and amortization (“Adj. EBITDA”) based on achievement of certain performance conditions, each of which is weighted one-half of the PSU, as shown in more detail below. Payout Percentage Metric Weight Performance Period Vesting Period Index Below Threshold Threshold Target Maximum TSR 50% 3-year rolling Annual (33.33% per year) Russell 1000 0% 50% (25th percentile) 100% (50th percentile) 200% (75th percentile) Adj. EBITDA 50% 3-year rolling Annual (33.33% per year) N/A 0% 50% 100% 200%

Certain relationships and rel_2

Certain relationships and related party transactions (Tables)	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Schedule of Allowance For Doubtful Accounts	The activity in the allowance for doubtful accounts during t he three months ended March 31, 2022 and 2021 was as follows (in millions): March 31, 2022 December 31, 2021 Beginning balance $ 0.3 $ 1.4 (Write-offs) Recoveries — 0.1 Reversal of allowance (0.3) (1.2) Impact of foreign currency translation — — Ending balance $ — $ 0.3 December 31, 2021 Beginning balance $ 30.0 Provision for loan losses — Reversal of allowance — Net reversal of allowance for loan losses — Write offs (30.0) Ending balance $ —
Schedule of Related Party Transactions	The following table summarizes the Company’s transactions with related parties for each of the three months ended March 31, 2022, and 2021 (in millions): Three Months Ended March 31, 2022 2021 Revenues (1) $ 0.3 $ 0.3 Selling, general and administrative expenses (2) 0.1 — (1) Revenues for the three months ended March 31, 2022 and 2021 include amounts recognized from contracts with Appgate and Presidio. Appgate is an affiliate of the Company and a direct subsidiary of SIS. December 31, 2021 Accounts receivable (1) $ 0.1 Accounts payable (2) 0.6 (1) Accounts receivable at December 31, 2021, include trade receivables due from Appgate. (2) Accounts payable at December 31, 2021, include amounts due to trade payables due to Appgate.

Organization and description _2

Organization and description of the business (Details)	3 Months Ended
	Mar. 31, 2022dataCentermarket$ / sharesshares	Dec. 31, 2021$ / shares
Business Acquisition [Line Items]
Number of highly interconnected data centers	61
Number of global markets | market	28
Number of continents with data centers	3
Common stock par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001
SVAC | Legacy Cyxtera
Business Acquisition [Line Items]
Number of shares issued (in shares) | shares	120,568,182

Basis of presentation and sig_4

Basis of presentation and significant accounting policies (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Assets:
Operating lease right-of-use assets	$ 280.3	$ 0
Intangible assets, net	472	519.8
Liabilities
Current portion of operating lease liabilities	32.4	0
Operating leases liabilities, net of current portion	308.6	0
Other liabilities	$ 67.2	158.2
Adjustments due to adoption of Topic 842
Assets:
Operating lease right-of-use assets		290.6
Intangible assets, net		(32.7)
Liabilities
Current portion of operating lease liabilities		32.2
Operating leases liabilities, net of current portion		319
Other liabilities		(93.3)
Cumulative Effect, Period of Adoption, Adjusted Balance
Assets:
Operating lease right-of-use assets		290.6
Intangible assets, net		487.1
Liabilities
Current portion of operating lease liabilities		32.2
Operating leases liabilities, net of current portion		319
Other liabilities		$ 64.9

Business combination - Narrativ

Business combination - Narrative (Details) - USD ($)	Jan. 31, 2022	Jul. 29, 2021	Jul. 21, 2021	Sep. 09, 2020	Sep. 30, 2020	Mar. 31, 2022	Dec. 31, 2021
Schedule of Reverse Recapitalization [Line Items]
Sale of stock (in dollars per share)		$ 10
Sale of stock, consideration received on transaction		$ 493,900,000
Common stock outstanding (in shares)						178,566,352	166,207,190
Optional Share Purchase Agreement, option exercisable period after closing		6 months	6 months	6 months
Common stock par value (in dollars per share)						$ 0.0001	$ 0.0001
Common stock issued (in shares)						178,566,352	166,207,190
Payments of stock issuance costs		$ 59,400,000
Repayments of debt		433,000,000
2017 Second Lien Term Facility
Schedule of Reverse Recapitalization [Line Items]
Repayments of debt		310,000,000
2021 Revolving Facility
Schedule of Reverse Recapitalization [Line Items]
Repayments of debt		$ 123,000,000
Common Class A
Schedule of Reverse Recapitalization [Line Items]
Common stock outstanding (in shares)		165,978,740				178,566,352
Sale of stock, number of shares converted in transaction (in shares)		10,105,863
Common stock issued (in shares)		165,978,740				178,566,352
Common Class A | Starboard Value Acquisition Company
Schedule of Reverse Recapitalization [Line Items]
Sale of stock, number of shares issued in transaction (in shares)					40,423,453
Common Class A | Starboard Value Acquisition Company | Affiliated Entity
Schedule of Reverse Recapitalization [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	7,500,000
Sale of stock, consideration received on transaction	$ 75,000,000
Share price (in dollars per share)	$ 10	$ 10
Stock repurchase program, authorized amount		$ 75,000,000
Number of shares authorized to purchase (in shares)		7,500,000
Common stock par value (in dollars per share)	$ 0.0001
Common Class A | Starboard Value Acquisition Corp Shareholders
Schedule of Reverse Recapitalization [Line Items]
Number of shares redeemed (in shares)					26,176,891
Sale of stock (in dollars per share)					$ 10
Sale of stock, consideration received on transaction					$ 261,800,000
Common stock outstanding (in shares)					14,246,562
Amount held in trust					$ 142,500,000
Common Class B | Starboard Value Acquisition Company
Schedule of Reverse Recapitalization [Line Items]
Sale of stock, number of shares converted in transaction (in shares)		10,105,863
Starboard Value Acquisition Corp Shareholders | Common Class A
Schedule of Reverse Recapitalization [Line Items]
Amount from operating accounts		$ 1,400,000
Institutional Buyers and Accredited Investors | Common Class A
Schedule of Reverse Recapitalization [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		25,000,000
SIS
Schedule of Reverse Recapitalization [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		106,100,000
SIS | Common Class A | Starboard Value Acquisition Company | Affiliated Entity
Schedule of Reverse Recapitalization [Line Items]
Stock repurchase program, authorized amount		$ 37,500,000
SIS and Institutional Buyers
Schedule of Reverse Recapitalization [Line Items]
Sale of stock, consideration received on transaction		250,000,000
Forward Purchasers
Schedule of Reverse Recapitalization [Line Items]
Sale of stock, consideration received on transaction		$ 100,000,000
Forward Purchasers | Starboard Value Acquisition Company | Affiliated Entity
Schedule of Reverse Recapitalization [Line Items]
Number of shares authorized to purchase (in shares)			3,750,000
Forward Purchasers | Common Class A
Schedule of Reverse Recapitalization [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		10,526,315
Sale of stock, consideration received on transaction		$ 100,000,000
Sale of stock, optional share purchase agreement, maximum purchase amount				$ 75,000,000
Forward Purchasers | Common Class A | Starboard Value Acquisition Company | Affiliated Entity
Schedule of Reverse Recapitalization [Line Items]
Stock repurchase program, authorized amount		$ 37,500,000		$ 75,000,000
SIS and Forward Purchasers | Common Class A | Starboard Value Acquisition Company | Affiliated Entity
Schedule of Reverse Recapitalization [Line Items]
Share price (in dollars per share)		$ 10		$ 10
Number of shares authorized to purchase (in shares)		3,750,000

Business combination - Consider

Business combination - Consideration Paid (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Business Combination and Asset Acquisition [Abstract]
SVAC’s trust and cash, net of redemptions	$ 143.9
Cash - PIPE Investment	250
Cash - Forward Purchase	100
Less: transaction costs and advisory fees, net of tax benefit	(59.4)
Net proceeds from reverse recapitalization	434.5
Plus: non cash net liabilities assumed	(41.8)
Less: accrued transaction costs and advisory fees	(0.4)
Net contributions from reverse recapitalization	392.3
Non-cash warrant liability assumed	$ 41.8

Loss per common share - Schedul

Loss per common share - Schedule of Antidilutive Securities Excluded from Computation of Net Loss Per Share (Details) - shares	1 Months Ended	3 Months Ended
	Jan. 24, 2022	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		13,508,905	0
Unvested employee stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		824,319
Unvested RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		4,866,709
Unvested PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		317,877
Optional shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		7,500,000
Public and Private Placement Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	19,400,000

Loss per common share - Narrati

Loss per common share - Narrative (Details) - shares	1 Months Ended	3 Months Ended
	Jan. 24, 2022	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		13,508,905	0
Public and Private Placement Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	19,400,000

Restructuring, impairment, si_3

Restructuring, impairment, site closures and related costs - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Jan. 01, 2022	Dec. 31, 2021	Jan. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 2
Restructuring reserve	9.2	4		$ 62.3		$ 0
Accretion	0.2	0.2
Interest expense	38.6	43.2
Restructuring, Settlement and Impairment Provisions
Restructuring Cost and Reserve [Line Items]
Accretion	0.2
Interest expense	1.4
Amortization of the ROU asset	0.2
Sublease income	$ 0.5
Adjustments due to adoption of Topic 842 | Accounting Standards Update 2016-02
Restructuring Cost and Reserve [Line Items]
Restructuring reserve			$ 53
Addison Site
Restructuring Cost and Reserve [Line Items]
Remaining lease term					10 years
Restructuring charges		7.9
Addison Site | Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring charges		5.9
Addison Site | Assets Disposal
Restructuring Cost and Reserve [Line Items]
Restructuring charges		2
Moses Lake Site
Restructuring Cost and Reserve [Line Items]
Capital lease obligation, related charges		58.5
Moses Lake Site | Facility Closing
Restructuring Cost and Reserve [Line Items]
Accelerated depreciation and amortization		0.9
Favorable leasehold interest amortization		$ 0.3

Restructuring, impairment, si_4

Restructuring, impairment, site closures and related costs - Restructuring Liability Reserve (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restructuring Reserve [Roll Forward]
Balance at beginning of the period	$ 62.3	$ 0
Lease termination costs	0	5.4
Reclassification of the restructuring liability reserve to ROU Asset	(53)	0
Accretion	0.2	0.2
Payments	(0.3)	(1.6)
Balance at end of the period	$ 9.2	$ 4

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 182.4	$ 172.9
Recurring revenue
Disaggregation of Revenue [Line Items]
Revenue	173.7	164.7
Non-recurring revenues
Disaggregation of Revenue [Line Items]
Revenue	$ 8.7	$ 8.2

Revenue - Summary of Opening an

Revenue - Summary of Opening and Closing Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Receivables
Opening balance	$ 18.3	$ 33.5
Net increase (decrease) during the period	9.4	(20.9)
Ending balance	27.7	12.6
Contract asset, current
Opening balance	17.2	23.8
Net increase (decrease) during the period	(1.1)	(1.8)
Ending balance	16.1	22
Contract asset, non-current
Beginning balance	12.1	16.8
Net increase (decrease) during the period	0.5	(2.7)
Ending balance	12.6	14.1
Deferred revenue, current
Beginning balance	14.5	15.6
Net increase (decrease) during the period	0	(0.5)
Ending balance	14.5	15.1
Deferred revenue, non-current
Beginning balance	14.7	18.1
Net increase (decrease) during the period	(0.6)	(2)
Ending balance	$ 14.1	$ 16.1

Revenue - Contract Balances (De

Revenue - Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Capitalized Contract Cost [Line Items]
Deferred revenue recognized	$ 4	$ 4.4
Advance billing, deferred revenue	47.8		$ 46.1
Capitalized contract costs	28.7		29.3
Contract costs amortization	5	7.5
Cost of Sales
Capitalized Contract Cost [Line Items]
Contract costs amortization	2	4.6
Selling, General and Administrative Expenses
Capitalized Contract Cost [Line Items]
Contract costs amortization	3	$ 2.9
Prepaid Expenses and Other Current Assets
Capitalized Contract Cost [Line Items]
Capitalized contract costs	16.1		17.2
Other Assets
Capitalized Contract Cost [Line Items]
Capitalized contract costs	$ 12.6		$ 12.1

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations amount	$ 784.4	$ 818
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations percentage		45.00%
Revenue, remaining performance obligation, remaining satisfaction period		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations percentage	47.00%
Revenue, remaining performance obligation, remaining satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations percentage		27.00%
Revenue, remaining performance obligation, remaining satisfaction period		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations percentage	27.00%
Revenue, remaining performance obligation, remaining satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations percentage		28.00%
Revenue, remaining performance obligation, remaining satisfaction period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations percentage	26.00%
Revenue, remaining performance obligation, remaining satisfaction period

Balance sheet components - Allo

Balance sheet components - Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 0.3	$ 1.4
(Write-offs) Recoveries	0	0.1
Reversal of allowance	(0.3)	(1.2)
Impact of foreign currency translation	0	0
Ending balance	$ 0	$ 0.3

Balance sheet components - Narr

Balance sheet components - Narrative (Details) - USD ($) $ in Millions	Feb. 09, 2021	Mar. 31, 2022	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Maximum uncollected receivables available	$ 37.5
Master receivables purchase agreement, extension period	540 days
Master receivable purchase agreement, term, period with obligation to complete purchase	360 days
Invoice face amount factored percentage	85.00%
Trade receivables, unused percentage	2.00%
Proceeds from factored receivables, gross		$ 10.9	$ 39.1
Proceeds from factored receivables, net		10.7	38.7
Factored receivables fees		$ 0.2	$ 0.4

Balance sheet components - Prep

Balance sheet components - Prepaid and Other Current Assets (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Contract asset, current	$ 16.1	$ 17.2	$ 22	$ 23.8
Prepaid expenses	17.9	19.3
Other current assets	1.1	1
Total prepaid and other current assets	$ 35.1	$ 37.5

Goodwill and intangible asset_2

Goodwill and intangible assets - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 760,500,000		$ 761,700,000
Goodwill impairment	0
Indefinite-lived intangible assets	500,000		500,000
Accumulated amortization	296,800,000		306,600,000
Goodwill impairment loss	0	$ 0
Intangible Assets Excluding Unfavorable Leasehold Interest
Finite-Lived Intangible Assets [Line Items]
Amortization of favorable/unfavorable leasehold interests, net	15,100,000	16,800,000
Unfavorable Leasehold Interest
Finite-Lived Intangible Assets [Line Items]
Amortization of favorable/unfavorable leasehold interests, net		600,000
Accumulated amortization			16,200,000
Favorable leasehold interests
Finite-Lived Intangible Assets [Line Items]
Amortization of favorable/unfavorable leasehold interests, net		$ 1,700,000
Accumulated amortization	$ 0		$ 24,900,000

Goodwill and intangible asset_3

Goodwill and intangible assets - Major Classes of Amortizing Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross	$ 768.3	$ 825.9
Accumulated Amortization	(296.8)	(306.6)
Net	471.5	519.3
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross	768	768
Accumulated Amortization	(296.5)	(281.4)
Net	471.5	486.6
Favorable leasehold interests
Finite-Lived Intangible Assets [Line Items]
Gross	0	57.6
Accumulated Amortization	0	(24.9)
Net	0	32.7
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross	0.3	0.3
Accumulated Amortization	(0.3)	(0.3)
Net	$ 0	$ 0

Goodwill and intangible asset_4

Goodwill and intangible assets - Annual Amortization Expense (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining 2022	$ 45.8
2023	60.3
2024	60.3
2025	60.3
2026	60.3
Thereafter	184.5
Net	$ 471.5	$ 519.3

Fair value measurements - Summa

Fair value measurements - Summary of Carrying Value and Fair Value Other Financial Instruments (Details) - Line of Credit - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Carrying value | 2017 First Lien Term Facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt	$ 776.4	$ 778.3
Carrying value | 2019 First Lien Term Facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt	97.3	97.5
Carrying value | Revolving Facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt	0	2.7
Carrying value | 2021 Revolving Facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt	0	37.3
Fair value | 2017 First Lien Term Facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt	780	780
Fair value | 2019 First Lien Term Facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt	98	98
Fair value | Revolving Facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt	0	2.7
Fair value | 2021 Revolving Facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt	$ 0	$ 37.3

Fair value measurements - Narra

Fair value measurements - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Debt issuance costs	$ 6.7	$ 7.5

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Lessee, Lease, Description [Line Items]
Finance lease assets	$ 1,127,200,000
Accumulated amortization of finance lease assets	206,700,000
Operating leases, rent expense		$ 28,800,000
Additions to assets and liabilities, sale lease financings	10,000,000	0
Sale and leaseback transaction, gain (loss)	$ 0
Interest Expense
Lessee, Lease, Description [Line Items]
Sale leaseback transaction, rent expense		$ 25,600,000
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	32 years

Leases - Lease Expenses (Detail

Leases - Lease Expenses (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Lease, Cost
Amortization of ROU assets	$ 14.2
Interest on lease liabilities	28.4
Total finance lease cost	42.6
Operating lease cost	15
Variable lease cost	3.7
Sublease income	(3)
Total lease cost	58.3
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	25.3
Operating cash flows from operating leases	15.3
Financing cash flows from finance lease	11.7
Right-of-use assets obtained in exchange for lease liabilities:
Finance leases	143.7
Operating leases	$ 274.7
Weighted-average remaining lease term - finance leases	20 years 6 months
Weighted-average remaining lease term - operating leases	10 years
Weighted-average discount rate - finance leases	9.10%
Weighted-average discount rate - operating lease	10.10%
Restructuring, Settlement and Impairment Provisions
Lease, Cost
Sublease income	$ (0.5)
Revenue from Contract with Customer, Excluding Assessed Tax
Lease, Cost
Sublease income	$ (2.5)

Leases - Schedule of ASC 842 Le

Leases - Schedule of ASC 842 Lease Maturity (Details) $ in Millions	Mar. 31, 2022USD ($)
Operating Leases
Remaining 2022	$ 45.9
2023	60.9
2024	60.4
2025	51.9
2026	47.5
Thereafter	276.8
Total lease payments	543.4
Less: imputed interest	(202.4)
Total	341
Finance Leases
Remaining 2022	112.9
2023	147.2
2024	137.7
2025	140
2026	135.2
Thereafter	2,560.6
Total lease payments	3,233.6
Less: imputed interest	(2,115.9)
Total	1,117.7
Total
Remaining 2022	158.8
2023	208.1
2024	198.1
2025	191.9
2026	182.7
Thereafter	2,837.4
Total lease payments	3,777
Less: imputed interest	(2,318.3)
Total	1,458.7
Future minimum sublease rentals	$ 52.9

Leases - ASC 842 Minimum Future

Leases - ASC 842 Minimum Future Rentals to be Received (Details) $ in Millions	Mar. 31, 2022USD ($)
Leases [Abstract]
Remaining 2022	$ 9.1
2023	12.2
2024	12.2
2025	12.3
2026	12.4
Thereafter	4.1
Total minimum lease receipts	$ 62.3

Leases - ASC 840 Operating Leas

Leases - ASC 840 Operating Leases Maturity (Details) $ in Millions	Mar. 31, 2022USD ($)
Lease receipts
2022	$ 12.2
2023	12.2
2024	12.2
2025	12.2
2026	12.2
Thereafter	4.1
Total minimum lease receipts/payments	65.1
Lease commitments
2022	60.3
2023	59.7
2024	59.2
2025	50.6
2026	46.3
Thereafter	273.8
Total minimum lease receipts/payments	549.9
Operating leases, future minimum payments due, future minimum sublease rentals	$ 45.1

Leases - Capital Lease Arrangem

Leases - Capital Lease Arrangements (Details) $ in Millions	Mar. 31, 2022USD ($)
Capital Leases and Sale Leaseback Obligations Arrangements
2022	$ 135.1
2023	128.3
2024	118.5
2025	120.6
2026	119.3
Thereafter	2,285
Total minimum lease payments	2,906.8
Less: amount representing interest	(1,930.5)
Present value of net minimum lease payments	976.3
Less: current portion	(38.5)
Capital leases, net of current portion	$ 937.8

Long-term debt - Summary of Lon

Long-term debt - Summary of Long-term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Less: unamortized debt issuance costs	$ (6.7)	$ (7.5)
Total carrying value of debt	867	908.3
Less: current maturities of long-term debt	(9.2)	(11.8)
Long-term debt, net current portion	857.8	896.5
2017 First Lien Term Facility due May 2024 | Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	776.4	778.3
2019 First Lien Term Facility due May 2024 | Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	97.3	97.5
Revolving Facility due May 2022 | Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	0	2.7
Revolving Facility due November 2023 | Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	$ 37.3

Long-term debt - Narrative (Det

Long-term debt - Narrative (Details) - USD ($)	May 10, 2021	May 07, 2021	May 13, 2019	Mar. 31, 2022	Dec. 31, 2021	May 01, 2017
Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt Instrument, basis spread on variable rate, alternative base rate				1.50%
Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						$ 1,275,000,000
Line of Credit | Revolving Facility
Debt Instrument [Line Items]
Repayments of lines of credit	$ 19,600,000			$ 40,000,000
Line of credit outstanding					$ 40,000,000
Credit facility, available borrowing capacity				$ 123,900,000	$ 88,800,000
Line of Credit | Revolving Facility | 2017 Revolving Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						150,000,000
Line of credit facility commitments exchanged		$ (141,300,000)
Debt instrument, term				5 years
Line of Credit | Revolving Facility | 2021 Revolving Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 30,000,000
Line of credit facility commitments exchanged		$ 120,100,000
Line of credit outstanding				$ 0
Debt instrument, term				18 months
Line of credit facility, commitment fee percentage				0.125%
Line of Credit | Revolving Facility | 2021 Revolving Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt Instrument, basis spread on variable rate, alternative base rate				1000000.00%
Line of Credit | Revolving Facility | 2021 Revolving Facility | Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt Instrument, basis spread on variable rate, alternative base rate				500000.00%
Line of Credit | Revolving Facility | 2021 Revolving Facility | Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				2.50%
Line of Credit | Revolving Facility | 2021 Revolving Facility | Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				3.00%
Debt Instrument, basis spread on variable rate, alternative base rate				3.00%
Secured Debt | 2017 First Lien Term Facility
Debt Instrument [Line Items]
Aggregate principal amount						815,000,000
Debt instrument, term				7 years
Debt instrument, interest rate, stated percentage				1.00%
Line of credit facility, interest rate at period end				4.00%
Secured Debt | 2017 First Lien Term Facility | Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				2.00%
Secured Debt | 2017 First Lien Term Facility | Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				3.00%
Secured Debt | 2017 Second Lien Term Facility
Debt Instrument [Line Items]
Aggregate principal amount						$ 310,000,000
Secured Debt | 2019 First Lien Term Facility
Debt Instrument [Line Items]
Proceeds from long-term lines of credit			$ 100,000,000
Debt instrument, term				5 years
Debt instrument, interest rate, stated percentage				1.00%
Line of credit facility, interest rate at period end				5.00%
Secured Debt | 2019 First Lien Term Facility | Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				3.00%
Secured Debt | 2019 First Lien Term Facility | Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				4.00%

Long-term debt - Maturities of

Long-term debt - Maturities of Long-term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Remaining 2022	$ 9.2
2023	9.2
2024	848.6
2025	0
2026	0
Total carrying value of debt	$ 867	$ 908.3

Long-term debt - Interest Expen

Long-term debt - Interest Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Debt Disclosure [Abstract]
Interest expense on debt, net of capitalized interest	$ 9.2	$ 16.2
Interest expense on finance leases	28.4	25.6
Amortization of deferred financing costs and fees	1	1.4
Interest Expense	$ 38.6	$ 43.2

Warrant Liabilities - Narrative

Warrant Liabilities - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 26, 2022	Jan. 26, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2020
Derivative [Line Items]
Exercise price per warrant (in dollars per share) (less than)					$ 11.50
Number of securities (in shares)				0.265
Warrants exercised on cash basis (in shares)		126,641
Issuance of shares related to exercise of warrants		$ 1.5	$ 54.2
Warrant exercised on cashless basis (in shares)		17,859,466
Issuance of shares related to exercise of warrants (in shares)	4,859,162	4,859,162
Number of warrants redeemed (in shares)		1,370,760
Payments for warrants redemption		$ 0.1
Public Warrants
Derivative [Line Items]
Warrants redemption price per warrant (in dollars per share)	$ 0.10	$ 0.10
Public and Private Placement Warrants
Derivative [Line Items]
Issuance of shares related to exercise of warrants		$ 54.2

Warrant Liabilities - Change in

Warrant Liabilities - Change in Warrant Liability (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Warrants and Rights Outstanding [Roll Forward]
Beginning balance	$ 64.7
Warrants exercised for Class A common stock	(52.9)
Change in fair value of the warrant liabilities	(11.8)
Ending balance	0
Fair Value, Inputs, Level 1 | Public Warrants
Warrants and Rights Outstanding [Roll Forward]
Beginning balance	36.1
Warrants exercised for Class A common stock	(28.9)
Change in fair value of the warrant liabilities	(7.2)
Ending balance	0
Fair Value, Inputs, Level 2 | Private Placement Warrants
Warrants and Rights Outstanding [Roll Forward]
Beginning balance	28.6
Warrants exercised for Class A common stock	(24)
Change in fair value of the warrant liabilities	(4.6)
Ending balance	$ 0

Shareholder's equity (Details)

Shareholder's equity (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 31, 2022	Jan. 26, 2022	Jul. 29, 2021	Feb. 19, 2021	Jan. 26, 2022	Sep. 30, 2020	Mar. 31, 2022	Mar. 31, 2021	Jan. 01, 2022	Dec. 31, 2021	Jan. 01, 2020
Class of Stock [Line Items]
Common stock par value (in dollars per share)							$ 0.0001			$ 0.0001
Shares, outstanding (in shares)											115,745,455
Shares authorized (in shares)											510,000,000
Common stock authorized (in shares)							500,000,000			500,000,000
Preferred stock authorized (in shares)							10,000,000			10,000,000
Common stock issued (in shares)							178,566,352			166,207,190
Common stock outstanding (in shares)							178,566,352			166,207,190
Payments for repurchase of common stock							$ 0	$ 97.9
Issuance of shares related to exercise of warrants (in shares)		4,859,162			4,859,162
Sale of stock, consideration received on transaction			$ 493.9
Sale of stock, percentage of ownership after transaction							61.50%
Preferred stock issued (in shares)							0			0
Preferred stock outstanding (in shares)							0			0
Public Warrants
Class of Stock [Line Items]
Class Of Warrant Or Right, Redemption of Warrants									7,970,730
Private Placement Warrants
Class of Stock [Line Items]
Class Of Warrant Or Right, Redemption of Warrants									8,576,940
Common Class A
Class of Stock [Line Items]
Common stock authorized (in shares)											500,000,000
Common stock issued (in shares)			165,978,740				178,566,352
Common stock outstanding (in shares)			165,978,740				178,566,352
Common Class A | Starboard Value Acquisition Company
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)						40,423,453
Common Class A | Starboard Value Acquisition Company | Affiliated Entity
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	7,500,000
Sale of stock, consideration received on transaction	$ 75
SIS
Class of Stock [Line Items]
Stock redeemed or called and retired during period (in shares)				9,645,455
Payments for repurchase of common stock				$ 97.9
Sale of stock, number of shares issued in transaction (in shares)			106,100,000

Stock-based compensation - Equi

Stock-based compensation - Equity-based Compensation Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Equity-based compensation cost	$ 0.2	$ 1.8
Costs of revenues, excluding depreciation and amortization
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Equity-based compensation cost	0	0.1
Selling, general and administrative expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Equity-based compensation cost	$ 0.2	$ 1.7

Stock-based compensation - Narr

Stock-based compensation - Narrative (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2022USD ($)installmentshares	Dec. 31, 2021USD ($)shares	Jul. 29, 2021shares	Feb. 08, 2021USD ($)	Jan. 01, 2020shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Income tax benefit	$ 0	$ 0
Amount of cost not yet recognized, period for recognition	3 years 4 months 24 days
Common stock authorized (in shares) | shares	500,000,000	500,000,000
Share-based payment nonvested award, option, cost not yet recognized, amount	$ 1,700,000
Appgate | Designated payment Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Notes payable, related parties, current				$ 1,100,000
Selling, General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 100,000
Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized (in shares) | shares					500,000,000
2021 Plan | Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized (in shares) | shares			13,278,299
Profit Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation costs | shares	22,913
Amount of cost not yet recognized for nonvested award	$ 1,700,000
Amount of cost not yet recognized, period for recognition	2 years
Unvested RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount of cost not yet recognized for nonvested award	$ 42,400,000
Amount of cost not yet recognized, period for recognition	2 years 6 months
Share-based compensation expense	$ 3,000,000
Unvested RSUs | Selling, General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	2,800,000
Unvested RSUs | Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 200,000
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation costs | shares	317,877	0
Amount of cost not yet recognized, period for recognition	1 year 8 months 12 days
Share-based payment nonvested award, option, cost not yet recognized, amount	$ 5,000,000
Award, number of vesting installments | installment	3
Vested (in shares) | shares	0
PSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award payout percentage	0.00%
PSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award payout percentage	200.00%

Stock-based compensation - Stoc

Stock-based compensation - Stock Options Transactions (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Shares Subject to Options
Outstanding beginning balance (in shares)	849,233
Granted (in shares)	0
Exercised (in shares)	0
Expired/forfeited (in shares)	(24,914)
Outstanding ending balance (in shares)	824,319
Exercisable at the end of the period (in shares)	0
Vested and expected to vest at the end of the period (in shares)	824,319
Weighted Average Exercise Price per Share
Outstanding beginning balance (in dollars per share)	$ 9.55
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Expired/forfeited (in dollars per shares)	9.55
Outstanding ending balance (in dollars per share)	9.55
Exercisable at the end of the period (in dollars per shares)	0
Vested and expected to vest at the end of the period (in dollars per shares)	$ 9.55
Weighted Average Remaining Contractual Life (Years)
Outstanding balance (in years)	9 years 4 months 24 days
Vested and expected to vest (in year)	9 years 4 months 24 days
Aggregate Intrinsic Value
Outstanding, intrinsic value	$ 2,200,932	$ 0
Exercisable at the end of the period	0
Vested and expected to vest at the end of the period	$ 2,200,932

Stock-based compensation - Rest

Stock-based compensation - Restricted Stock Units Transactions (Details)	3 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Exercisable at the end of the period (in shares) | shares	0
Vested and expected to vest at the end of the period (in shares) | shares	824,319
Weighted Average Exercise Price per Share
Outstanding beginning balance (in dollars per share)	$ 9.55
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Expired/forfeited (in dollars per shares)	9.55
Outstanding ending balance (in dollars per share)	9.55
Exercisable at the end of the period (in dollars per shares)	0
Vested and expected to vest at the end of the period (in dollars per shares)	$ 9.55
Weighted Average Remaining Contractual Life (Years)
Vested and expected to vest (in year)	9 years 4 months 24 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning balance (in shares) | shares	3,335,811
Granted (in shares) | shares	1,615,129
Exercised (in shares) | shares	0
Expired/forfeited (in shares) | shares	(84,231)
Ending balance (in shares) | shares	4,866,709
Exercisable at the end of the period (in shares) | shares	0
Vested and expected to vest at the end of the period (in shares) | shares	4,866,709
Weighted Average Exercise Price per Share
Outstanding beginning balance (in dollars per share)	$ 0
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Expired/forfeited (in dollars per shares)	0
Outstanding ending balance (in dollars per share)	0
Exercisable at the end of the period (in dollars per shares)	0
Vested and expected to vest at the end of the period (in dollars per shares)	$ 0
Weighted Average Remaining Contractual Life (Years)
Outstanding balance (in years)	1 year 7 months 6 days
Vested and expected to vest (in year)	1 year 7 months 6 days
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding beginning balance | $	$ 0
Aggregate intrinsic value, outstanding ending balance | $	59,471,184
Non-options, aggregate intrinsic value, exercisable at the end of the period | $	0
Non-options, aggregate intrinsic value, unvested and expected to vest, at the end of the period | $	$ 59,471,184
Weighted-average grant date fair value
Beginning balance (in dollars per share)	$ 9.32
Grants (in dollars per share)	11.66
Vested (in dollars per share)	0
Forfeitures (in dollars per share)	9.30
Ending balance (in dollars per share)	10.09
Exercisable, at the end of the period (in dollars per share)	0
Unvested and expected to vest at the end of the period (in dollars per share)	$ 10.09

Stock-based compensation - Perf

Stock-based compensation - Performance Stock Units Transactions (Details)	3 Months Ended
	Mar. 31, 2022Award
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards	2
Vesting period (in years)	3 years
PSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award payout percentage	0.00%
PSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award payout percentage	200.00%
TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award percentage	5000.00%
Vesting period (in years)	3 years
Vesting rights, percentage	33.33%
Threshold	50.00%
Target	100.00%
TSR | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award payout percentage	0.00%
TSR | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award payout percentage	200.00%
Adj. EBITDA
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award percentage	5000.00%
Vesting period (in years)	3 years
Vesting rights, percentage	33.33%
Threshold	5000.00%
Target	10000.00%
Adj. EBITDA | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award payout percentage	0.00%
Adj. EBITDA | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award payout percentage	20000.00%

Stock-based compensation - Fair

Stock-based compensation - Fair Value of Stock Options Awards (Details) - PSUs	Mar. 23, 2022$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.30%
Volatility for Least-Square Monte Carlo Model	39.00%
Expected Term in Years	2 years 9 months 18 days
Dividend Yield	0.00%
Fair Value of Class A Common Stock (in dollars per share)	$ 11.66

Stock-based compensation - Pe_2

Stock-based compensation - Performance Stock Units Activity (Details) - PSUs	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Number of Units
Beginning balance (in shares)	0
Award granted (in shares)	317,877
Vested (in share)	0
Forfeited (in shares)	0
Ending balance (in shares)	317,877
Weighted-average grant date fair value
Beginning balance (in dollars per share) | $ / shares	$ 0
Grants (in dollars per share) | $ / shares	15.78
Vested (in dollars per share) | $ / shares	0
Forfeitures (in dollars per share) | $ / shares	0
Ending balance (in dollars per share) | $ / shares	$ 15.78
Yet to grant (in shares)	158,938

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income tax (expense) benefit	$ 4.1	$ (12.9)

Commitments and contingencies (

Commitments and contingencies (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Total lease commitment	$ 22,400,000
Purchase commitment	3,200,000	$ 4,400,000
Standby Letters of Credit
Loss Contingencies [Line Items]
Line of credit facility, maximum borrowing capacity	4,900,000	5,700,000
Letters of credit outstanding	$ 0	$ 0

Certain relationships and rel_3

Certain relationships and related party transactions - Additional Information (Details) - USD ($)	Jan. 31, 2022	Jul. 29, 2021	Jul. 21, 2021	Sep. 09, 2020	Sep. 30, 2020	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Feb. 08, 2021	Mar. 31, 2019
Related Party Transaction [Line Items]
Optional Share Purchase Agreement, option exercisable period after closing		6 months	6 months	6 months
Sale of stock (in dollars per share)		$ 10
Sale of stock, consideration received on transaction		$ 493,900,000
BC Partners
Related Party Transaction [Line Items]
Percent of financing receivable to total debt (less than)						5.00%
Starboard Value Acquisition Company | Common Class A
Related Party Transaction [Line Items]
Sale of stock, number of shares issued in transaction (in shares)					40,423,453
Appgate
Related Party Transaction [Line Items]
Notes receivable, related parties									$ 120,600,000
Notes payable, related parties									154,300,000
Forward Purchasers
Related Party Transaction [Line Items]
Sale of stock, consideration received on transaction		$ 100,000,000
Forward Purchasers | Common Class A
Related Party Transaction [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		10,526,315
Sale of stock, consideration received on transaction		$ 100,000,000
Affiliated Entity | Starboard Value Acquisition Company | Common Class A
Related Party Transaction [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	7,500,000
Number of shares authorized to purchase (in shares)		7,500,000
Sale of stock, consideration received on transaction	$ 75,000,000
Affiliated Entity | Appgate
Related Party Transaction [Line Items]
Notes receivable aggregate principal amount										$ 95,200,000
Notes receivable, related parties, additional borrowing capacity										52,500,000
Notes receivable, related parties, maximum borrowing capacity										$ 147,700,000
Notes receivable, related party, interest rate, percentage										3.00%
Affiliated Entity | Emerge Americas LLC
Related Party Transaction [Line Items]
Due to affiliates						$ 0		$ 0
Affiliated Entity | PICO Quantitative Trading, LLC
Related Party Transaction [Line Items]
Amount billed to related party							$ 100,000
Affiliated Entity | Forward Purchasers | Starboard Value Acquisition Company
Related Party Transaction [Line Items]
Number of shares authorized to purchase (in shares)			3,750,000
Presidio Holdings
Related Party Transaction [Line Items]
Amount billed to related party						100,000
Payments to services provided by related party						100,000
Due to related parties, current						0		$ 0
Altice USA, Inc.
Related Party Transaction [Line Items]
Amount billed to related party						$ 100,000
Affiliated Entity | Starboard Value Acquisition Company | Common Class A
Related Party Transaction [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	7,500,000
Sale of stock, consideration received on transaction	$ 75,000,000
Designated payment Two | Appgate
Related Party Transaction [Line Items]
Notes payable, related parties, current									1,100,000
Designated payment one | Appgate
Related Party Transaction [Line Items]
Notes payable, related parties, current									$ 117,100,000

Certain relationships and rel_4

Certain relationships and related party transactions - Schedule of Allowance For Loan Losses Activity (Details) - Affiliated Entity $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Financing Receivable, Related Parties [Roll Forward]
Beginning balance	$ 30
Provision for loan losses	0
Reversal of allowance	0
Net reversal of allowance for loan losses	0
Write offs	(30)
Ending balance	$ 0

Certain relationships and rel_5

Certain relationships and related party transactions - Summary of related party transactions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Related Party Transactions [Abstract]
Revenues	$ 0.3	$ 0.3
Selling general and administrative expenses	$ 0.1	$ 0

Certain relationships and rel_6

Certain relationships and related party transactions - Schedule of Related Party Transactions Balances (Details) $ in Millions	Dec. 31, 2021USD ($)
Related Party Transactions [Abstract]
Accounts receivable	$ 0.1
Accounts payable	$ 0.6