Rackspace Technology (RXT) 10-K 15 Mar 24 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Mar. 07, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-39420
Entity Registrant Name	RACKSPACE TECHNOLOGY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-3369925
Entity Address, Address Line One	19122 US Highway 281 N.
Entity Address, Address Line Two	Suite 128
Entity Address, City or Town	San Antonio
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78258
City Area Code	800
Local Phone Number	961-4454
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	RXT
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 139
Entity Common Stock, Shares Outstanding		219,755,451
Documents Incorporated by Reference	Portions of the registrant's definitive Proxy Statement relating to the 2024 Annual Meeting of Stockholders are incorporated herein by references in Part III of this Annual Report on Form 10-K to the extent stated herein. Such Proxy Statement will be filed with the Securities and Exchange Commission within 120 days of the registrant's fiscal year ended December 31, 2023 .
Entity Central Index Key	0001810019
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Auditor Information [Abstract]
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Austin, Texas

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 196.8	$ 228.4
Accounts receivable, net of allowance for credit losses and accrued customer credits of $24.6 and $20.1, respectively	339.7	622.2
Prepaid expenses	87.4	97.3
Other current assets	114.2	125.3
Total current assets	738.1	1,073.2
Property, equipment and software, net	608.8	628.3
Goodwill, net	1,452.4	2,155.1
Intangible assets, net	1,019	1,236
Operating right-of-use assets	126.3	138
Other non-current assets	151.6	226.1
Total assets	4,096.2	5,456.7
Current liabilities:
Accounts payable and accrued expenses	432.7	447.3
Accrued compensation and benefits	72.2	95.3
Deferred revenue	78.8	80.9
Debt	23	23
Accrued interest	20.5	36.3
Operating lease liabilities	66	60
Finance lease liabilities	55.8	61.7
Financing obligations	14	16.7
Other current liabilities	36.5	35.3
Total current liabilities	799.5	856.5
Non-current liabilities:
Debt	2,839.6	3,295.4
Operating lease liabilities	74.6	84.8
Finance lease liabilities	308	310.5
Financing obligations	52.4	47.6
Deferred income taxes	79.2	126.7
Other non-current liabilities	97.4	105.7
Total liabilities	4,250.7	4,827.2
Commitments and Contingencies (Note 10)
Stockholders' equity (deficit):
Preferred stock, $0.01 par value per share: 5.0 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.01 par value per share: 1,495.0 shares authorized; 215.7 and 220.5 shares issued; 212.6 and 217.4 shares outstanding, respectively	2.2	2.2
Additional paid-in capital	2,638.2	2,573.3
Accumulated other comprehensive income	60.3	71.4
Accumulated deficit	(2,824.2)	(1,986.4)
Treasury stock, at cost; 3.1 shares held	(31)	(31)
Total stockholders' equity (deficit)	(154.5)	629.5
Total liabilities and stockholders' equity (deficit)	$ 4,096.2	$ 5,456.7

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts and accrued customer credits	$ 20.1	$ 24.6	$ 18.4
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,495,000,000	1,495,000,000
Common stock, shares issued (in shares)	220,500,000	215,700,000
Common stock, shares outstanding (in shares)	217,400,000	212,600,000
Treasury stock, at cost (in shares)	3,100,000

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Revenue	$ 2,957.1	$ 3,122.3	$ 3,009.5
Cost of revenue	(2,328.3)	(2,265.4)	(2,072.7)
Gross profit	628.8	856.9	936.8
Selling, general and administrative expenses	(767.2)	(855.3)	(906.8)
Impairment of goodwill	(708.8)	(534.5)	(52.4)
Impairment of assets, net	(52.2)	(146.1)	0
Gain on sale of land	0	0	19.9
Loss from operations	(899.4)	(679)	(2.5)
Other income (expense):
Interest expense	(221.6)	(208.5)	(205.1)
Gain (loss) on investments, net	0.3	(0.2)	(3)
Debt modification costs and gain (loss) on debt extinguishment	271.3	0	(37.5)
Other expense, net	(5)	(10)	(1)
Total other income (expense)	45	(218.7)	(246.6)
Loss before income taxes	(854.4)	(897.7)	(249.1)
Benefit for income taxes	16.6	92.9	30.8
Net loss	(837.8)	(804.8)	(218.3)
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	8	(27.2)	(3.6)
Unrealized gain on derivative contracts	10.8	86.9	11.5
Amount reclassified from accumulated other comprehensive income (loss) to earnings	(29.9)	4.8	17.6
Other comprehensive income (loss)	(11.1)	64.5	25.5
Comprehensive loss	$ (848.9)	$ (740.3)	$ (192.8)
Net loss per share:
Basic (in dollars per share)	$ (3.89)	$ (3.81)	$ (1.05)
Diluted (in dollars per share)	$ (3.89)	$ (3.81)	$ (1.05)
Weighted average number of shares outstanding:
Basic (in shares)	215.3	211.2	208
Diluted (in shares)	215.3	211.2	208

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Cash Flows From Operating Activities
Net loss	$ (837.8)	$ (804.8)	$ (218.3)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	369.7	387.8	424.8
Amortization of operating right-of-use assets	73.2	59.8	65.9
Deferred income taxes	(41.9)	(108.8)	(41.5)
Share-based compensation expense	65.4	69.5	75.4
Impairment of goodwill	708.8	534.5	52.4
Impairment of assets, net	52.2	146.1	0
Gain on sale of land	0	0	(19.9)
Debt modification costs and gain (loss) on debt extinguishment	(271.3)	0	37.5
Unrealized loss on derivative contracts	15.5	18.5	16.8
(Gain) loss on investments, net	(0.3)	0.2	3
Provision for bad debts and accrued customer credits	9	12.4	(2)
Amortization of debt issuance costs and debt discount	7.9	8	8.8
Non-cash fair value adjustments	(1)	3.2	0
Other operating activities	0.4	(0.2)	(2.1)
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable	275.1	(82.4)	(69.5)
Prepaid expenses and other current assets	24.6	(7.1)	9.5
Accounts payable, accrued expenses, and other current liabilities	(44.2)	69.8	88.1
Deferred revenue	(5.8)	(21.6)	21.6
Operating lease liabilities	(65.6)	(65.5)	(61.4)
Other non-current assets and liabilities	41	27.3	(18.3)
Net cash provided by operating activities	374.9	246.7	370.8
Cash Flows From Investing Activities
Purchases of property, equipment and software	(96.9)	(80.4)	(108.4)
Acquisitions, net of cash acquired	0	(7.7)	0
Proceeds from sale of land	0	0	31.3
Purchase of convertible promissory note	0	(15)	0
Other investing activities	0.9	5.2	8.1
Net cash used in investing activities	(96)	(97.9)	(69)
Cash Flows From Financing Activities
Proceeds from employee stock plans	1.3	3.7	61.1
Shares of common stock withheld for employee taxes	(1)	0	0
Shares of common stock repurchased	0	(31)	0
Proceeds from borrowings under long-term debt arrangements	50	0	2,838.5
Payments on long-term debt	(241.9)	(23)	(2,877.9)
Payments for debt issuance costs	0	0	(34.5)
Payments on financing component of interest rate swap	(18.8)	(17.2)	(12.9)
Principal payments of finance lease liabilities	(79.7)	(67.2)	(50.6)
Principal payments of financing obligations	(22.7)	(49)	(55.9)
Other financing activities	0	(3.3)	0
Net cash used in financing activities	(312.8)	(187)	(132.2)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	2.2	(5.8)	(2.3)
Increase (decrease) in cash, cash equivalents, and restricted cash	(31.7)	(44)	167.3
Cash, cash equivalents, and restricted cash at beginning of period	231.4	275.4	108.1
Cash, cash equivalents, and restricted cash at end of period	199.7	231.4	275.4
Supplemental Cash Flow Information
Cash payments for interest, net of amount capitalized	213.9	177.9	178.5
Cash payments for income taxes, net of refunds	11.9	10.5	5.5
Non-cash Investing and Financing Activities
Acquisition of property, equipment and software by finance leases	67.7	36.7	60.4
Acquisition of property, equipment and software by financing obligations	25	7.1	44.7
Other non-cash additions	5.3	0	0
Increase (decrease) in property, equipment and software accrued in liabilities	(13.6)	17.6	(10.6)
Non-cash purchases of property, equipment and software	84.4	61.4	94.5
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	196.8	228.4	272.8
Restricted cash included in other non-current assets	2.9	3	2.6
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$ 199.7	$ 231.4	$ 275.4

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Treasury Stock, at Cost
Beginning balance (in shares) at Dec. 31, 2020		201.8
Beginning balance at Dec. 31, 2020	$ 1,383.7	$ 2	$ 2,363.6	$ (18.6)	$ (963.3)	$ 0
Beginning balance (in shares) at Dec. 31, 2020						0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		2.7
Exercise of stock options and release of stock awards (in shares)		6
Exercise of stock options and release of stock awards	50.8	$ 0.1	50.7
Issuance of shares from Employee Stock Purchase Plan (in shares)		0.7
Issuance of shares from Employee Stock Purchase Plan	10.3		10.3
Share-based compensation expense	75.4		75.4
Net loss	(218.3)				(218.3)
Other comprehensive income	25.5			25.5
Ending balance (in shares) at Dec. 31, 2021		211.2
Ending balance at Dec. 31, 2021	1,327.4	$ 2.1	2,500	6.9	(1,181.6)	$ 0
Ending balance (in shares) at Dec. 31, 2021						0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options and release of stock awards (in shares)		3.7
Exercise of stock options and release of stock awards	0.8	$ 0.1	0.7
Issuance of shares from Employee Stock Purchase Plan (in shares)		0.8
Issuance of shares from Employee Stock Purchase Plan	3.1		3.1
Share-based compensation expense	69.5		69.5
Net loss	(804.8)				(804.8)
Other comprehensive income	64.5			64.5
Repurchase of common stock (in shares)						3.1
Repurchase of common stock	$ (31)					$ (31)
Ending balance (in shares) at Dec. 31, 2022	212.6	215.7
Ending balance at Dec. 31, 2022	$ 629.5	$ 2.2	2,573.3	71.4	(1,986.4)	$ (31)
Ending balance (in shares) at Dec. 31, 2022						3.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options and release of stock awards (in shares)		4.1
Exercise of stock options and release of stock awards	(1)	$ 0	(1)
Issuance of shares from Employee Stock Purchase Plan (in shares)		0.7
Issuance of shares from Employee Stock Purchase Plan	1.3		1.3
Share-based compensation expense	64.6		64.6
Net loss	(837.8)				(837.8)
Other comprehensive income	$ (11.1)			(11.1)
Ending balance (in shares) at Dec. 31, 2023	217.4	220.5
Ending balance at Dec. 31, 2023	$ (154.5)	$ 2.2	$ 2,638.2	$ 60.3	$ (2,824.2)	$ (31)
Ending balance (in shares) at Dec. 31, 2023	3.1					3.1

Company Overview, Basis of Pres

Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies	Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies Nature of Operations and Basis of Presentation Rackspace Technology is a Delaware corporation controlled by investment funds affiliated with Apollo. Rackspace Technology was formed on July 21, 2016 but had no assets, liabilities or operating results until November 3, 2016 when Rackspace Hosting (now named Rackspace Technology Global), a global provider of modern information technology-as-a-service, was acquired by Inception Parent, a wholly-owned entity indirectly owned by Rackspace Technology. Rackspace Technology Global commenced operations in 1998 as a limited partnership, and was incorporated in Delaware in March 2000. Rackspace Technology serves as the holding company for Rackspace Technology Global and does not engage in any material business or operations other than those related to its indirect ownership of the capital stock of Rackspace Technology Global and its subsidiaries or business or operations otherwise customarily undertaken by a holding company. For ease of reference, the terms "we," "our company," "the company," "us," or "our" as used in this report refer to Rackspace Technology and its consolidated subsidiaries. On January 18, 2022, we acquired 100% of Just Analytics, a leading provider of cloud-based data, analytics, and AI services based in the APJ region. The acquisition was completed for $7.7 million in cash consideration, net of cash acquired, together with future deferred payments that are considered post-combination compensation costs and will be recognized over the next three years. The acquisition of Just Analytics was not material to the consolidated financial statements. Effective on January 1, 2023, we reorganized around a two-business unit operating model, Public Cloud and Private Cloud. This two-business unit operating model ensures increased focus, delivery, and service quality for our customers. Beginning in 2023, we changed our segment reporting to reflect this reorganization under two reportable segments: Public Cloud and Private Cloud. See Note 18, "Segment Reporting" for more information. The accompanying consolidated financial statements include the accounts of Rackspace Technology and our wholly-owned subsidiaries. Intercompany transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expenses, and related disclosures of contingent assets and liabilities in the consolidated financial statements and accompanying notes. On an ongoing basis, we evaluate our estimates, including those related to the allowance for credit losses, useful lives of property, equipment and software, software capitalization, incremental borrowing rates for lease liability measurement, fair values of intangible assets and reporting units, useful lives of intangible assets, share-based compensation, contingencies, and income taxes, among others. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from our estimates. Liquidity Overview We are a highly leveraged company. As of December 31, 2023, we had $2,892.5 million aggregate principal amount outstanding under our Term Loan Facility, 5.375% Senior Notes, and 3.50% Senior Secured Notes. We primarily finance our operations and capital expenditures with internally-generated cash from operations and hardware leases, and if necessary, borrowings under our Revolving Credit Facility. As of December 31, 2023, the Revolving Credit Facility provided for up to $375.0 million of borrowings, none of which was drawn and outstanding as of December 31, 2023. Our primary uses of cash are working capital requirements, debt service requirements and capital expenditures. Based on our current level of operations and available cash and cash equivalents of $196.8 million as of December 31, 2023, we believe our sources will provide sufficient liquidity over at least the next twelve months. We cannot provide assurance, however, that our business will generate sufficient cash flows from operations or that future borrowings will be available to us under the Revolving Credit Facility or from other sources in an amount sufficient to enable us to pay our indebtedness or to fund our other liquidity needs. Our ability to do so depends on prevailing economic conditions and other factors, many of which are beyond our control. Subsequent Events Private Exchange On March 12, 2024, we (together with certain of our subsidiaries) closed a private debt exchange (the “Private Exchange”) with (i) certain holders of the 3.50% Senior Secured Notes (the “Existing Secured Notes”) issued by Rackspace Technology Global (the “Existing Borrower”), representing more than 64% of the aggregate principal amount of the outstanding Existing Secured Notes, and (ii) lenders representing more than 72% of the aggregate principal amount of the outstanding term loans (the “Existing Term Loans”) under the First Lien Credit Agreement. Pursuant to the Private Exchange, (i) $331.4 million aggregate principal amount of Existing Secured Notes and $1,588.8 million aggregate principal amount of Existing Term Loans were exchanged or purchased for cancellation and (ii) $267.3 million aggregate principal amount of new 3.50% FLSO Notes and $1,312.0 million aggregate principal amount of new first lien second out term loans (the “New FLSO Term Loans”) were issued by Rackspace Finance, LLC, a new subsidiary of the company (the “New Borrower”). As a result of the Private Exchange, the company eliminated more than $375.0 million of its debt and extended the maturity of $1,579.4 million of its debt until May 2028. In addition, the New Borrower issued $275.0 million in aggregate principal amount of first lien first out senior secured term loans and the company repurchased and cancelled $69.3 million aggregate principal amount of its 5.375% Senior Notes. Public Exchanges On March 13, 2024, the company launched an offer to all of the holders of the Existing Borrower’s remaining Existing Term Loans (the “Public Term Loan Exchange”). Assuming full participation in the Public Term Loan Exchange, the company expects that (i) $592.3 million aggregate principal amount of Existing Term Loans will be exchanged or purchased for cancellation and (ii) $418.8 million aggregate principal amount of New FLSO Term Loans will be issued by the New Borrower. On March 14, 2024, the company launched an offer to all of the holders of the Existing Borrower’s remaining Existing Secured Notes (the “Public Note Exchange” and, together with the Public Term Loan Exchange, the “Public Exchanges”). Assuming full participation in the Public Note Exchange, the company expects that (i) $182.3 million aggregate principal amount of Existing Secured Notes will be exchanged or purchased for cancellation and (ii) $127.6 million aggregate principal amount of New Secured Notes will be issued by the New Borrower. The Public Exchanges are subject to certain customary closing conditions and termination provisions and may not be consummated. These disclosures are for informational purposes only and shall not constitute or form part of any offer or invitation to purchase or sell, or any solicitation of any offer to sell or purchase, notes or any other securities or debt instruments, and neither this report nor any part of it, nor the fact of its release, shall form the basis of, or be relied on or in connection with, any contract therefor. The Public Note Exchange is made only by and pursuant to the terms and conditions of a confidential offering memorandum that will only be made available to eligible holders of the Existing Secured Notes. The complete terms and conditions of the Public Note Exchange for the Existing Secured Notes are set forth in such confidential offering memorandum. The Public Term Loan Exchange is made only by and pursuant to the terms and conditions of an exchange agreement that will only be made available to holders of the Existing Term Loans. The complete terms and conditions of the Public Term Loan Exchange for the Existing Term Loans are set forth in such exchange agreement. None of the company, the Existing Borrower, the New Borrower or any of their affiliates takes any position or makes any recommendation as to whether or not eligible holders should participate in the Public Note Exchange or the Public Term Loan Exchange. New Revolving Credit Facility On March 12, 2024, the New Borrower also established the New Revolving Credit Facility consisting of new first out first lien revolving credit commitments in an aggregate principal amount of $375.0 million. All revolving lenders under the company’s prior Revolving Credit Facility agreed to exchange their revolving loan commitments for commitments in respect of the New Revolving Credit Facility, which replaces in full the company’s prior Revolving Credit Facility. The New Revolving Credit Facility has a maturity date of May 15, 2028. Accounting and Tax Impacts We are evaluating the accounting impacts of the Private Exchange, Public Exchanges and New Revolving Credit Facility which are currently not estimable. In addition, the tax consequences of debt exchanges are reasonably complex and could result in both the recognition of taxable income and/or the reduction of the tax basis of our assets. We are in the process of evaluating these matters and expect that a portion of any income resulting from the Private Exchange and Public Exchanges could be taxable. Any additional taxable income arising from these transactions could be substantially offset by tax attributes currently reported on our Consolidated Balance Sheets, which may also include attributes that have a valuation allowance against resulting in reversals of such valuation allowances. Cash, Cash Equivalents, and Restricted Cash Our cash is comprised of bank deposits, overnight sweep accounts and money market funds and is held with high-credit quality U.S. and foreign financial institutions. We consider all highly liquid investments, such as money market funds, with original maturities of three months or less when acquired to be cash equivalents. Restricted cash, included in "Other non-current assets" in our Consolidated Balance Sheets, represents collateral for letters of credit. Restricted cash was $3.0 million and $2.9 million as of December 31, 2022 and 2023, respectively. Property, Equipment and Software and Definite-Lived Intangible Assets Property, equipment and software is stated at cost, net of accumulated depreciation and amortization. Included in property, equipment and software are capitalized costs related to computer software developed or acquired for internal use. Capitalized computer software costs consist of purchased software licenses, implementation costs, and salaries and related compensation costs of employees and consultants for certain projects that qualify for capitalization. For cloud computing arrangements that include a software license, the software license element of the arrangement is accounted for in a manner consistent with the acquisition of other software licenses. For cloud computing arrangements that do not include a software license, the arrangement is accounted for as a service contract and is expensed as the services are provided. Replacements and major improvements to property, equipment and software are capitalized, while maintenance and repairs are charged to expense as incurred. We also capitalize interest costs incurred during the acquisition, development and construction of certain assets until the asset is ready for its intended use. We capitalized interest of $0.6 million, $0.4 million and $0.8 million for the years ended December 31, 2021, 2022 and 2023, respectively. Property, equipment and software is depreciated on a straight-line basis over the estimated useful life of the asset. Leasehold improvements are depreciated over the shorter of their estimated useful lives or the remaining lease term. Depreciation expense is recorded within "Cost of revenue" and "Selling, general and administrative expenses" on our Consolidated Statements of Comprehensive Loss. The following table shows the estimated useful lives used for property, equipment and software: Classification Estimated Useful Lives Computers and equipment 3 to 5 years Software 3 years Furniture and fixtures 7 years Buildings and leasehold improvements 2 to 39 years Assets classified as held for sale are recorded at the lower of carrying value or its estimated fair value, less costs to sell, and no depreciation and amortization is recorded after the held for sale classification is met. As of December 31, 2022, our corporate headquarters property was classified as held for sale. See Note 5, "Property, Equipment and Software, net" and Note 6, "Goodwill and Intangible Assets" for more information. The cost of assets and related accumulated depreciation and amortization are written off upon retirement or disposal and any resulting gain or loss is credited or charged to income or expense. Definite-lived intangible assets are primarily comprised of customer relationships and are stated at their acquisition date fair value less accumulated amortization. Definite-lived intangible assets are amortized using the straight-line method over their estimated useful lives as this method best approximates the economic benefit derived from such assets. Amortization expense is recorded within "Selling, general and administrative expenses" on our Consolidated Statements of Comprehensive Loss. Long-lived assets, including operating and finance lease assets (see "Leases" below for more information) are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets is measured at the asset group level. If the carrying amount of an asset group exceeds its estimated undiscounted future cash flows, then an impairment charge is recognized in the amount that an asset group’s carrying amount exceeds its fair value. As of September 1, 2022, prior to performing the goodwill impairment analysis discussed below, we performed a recoverability test of our long-lived assets by asset group, including finite-lived intangible assets, in which we estimated the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset or asset group . Based on the results of the recoverability test, we determined that, as of September 1, 2022, the carrying amount of the OpenStack Public Cloud asset group’s underlying assets exceeded the sum of the undiscounted cash flows, and therefore is subject to the fair value test . Fair values of the OpenStack Public Cloud long-lived assets were determined using a combination of the income approach and the cost approach. The income approach utilized assumptions including management’s best estimates of the expected future cash flows, risk-adjusted discount rate, and the estimated useful life of the asset group. The cost approach utilized assumptions for the current replacement costs of similar assets adjusted for estimated depreciation and deterioration of the existing equipment and economic obsolescence. Estimates of floor values for the property, equipment and software, net, were considered relative to potential economic support for the assets such that the concluded value did not fall below the estimated floor value of these assets. As a result of the fair value test, we recorded non-cash impairment charges totaling $37.7 million related to property, equipment and software, net and intangible assets, which are included in "Impairment of assets, net" on our Consolidated Statements of Comprehensive Loss for the year ended December 31, 2022. We also performed recoverability tests of our long-lived assets in conjunction with the goodwill impairment analyses performed subsequent to September 1, 2022 which did not result in any impairment charges. See Note 5, "Property, Equipment and Software, net," and Note 6, "Goodwill and Intangible Assets," for more information. Goodwill and Indefinite-Lived Intangible Assets Goodwill represents the excess of the purchase price over the fair value of identifiable net assets of businesses acquired. Our indefinite-lived intangible asset consists of our Rackspace trade name, which was recorded at fair value on our balance sheet at the date of the Rackspace Acquisition. Goodwill and indefinite-lived intangible assets are not amortized but are subject to impairment testing on an annual basis as of October 1st or more frequently if events or circumstances indicate a potential impairment. These events or circumstances could include a significant change in the business climate, regulatory environment, established business plans, operating performance indicators or competition. Potential impairment indicators may also include, but are not limited to, (i) significant changes to estimates and assumptions used in the most recent annual or interim impairment testing, (ii) downward revisions to internal forecasts, and the magnitude thereof, (iii) declines in our market capitalization below our book value, and the magnitude and duration of those declines, (iv) a reorganization resulting in a change to our operating segments, and (v) other macroeconomic factors, such as increases in interest rates that may affect the weighted average cost of capital, volatility in the equity and debt markets, or fluctuations in foreign currency exchange rates that may negatively impact our reported results of operations. On January 1, 2023, as a result of the reorganization of our business around a two-business unit operating model, we changed our operating and reportable segments to Private Cloud and Public Cloud. Our prior Multicloud Services segment has been separated into its public and private cloud components and the offerings previously reported in our Apps & Cross Platform segment have been reassigned to either the Public Cloud or Private Cloud segment based on the nature of the offering. Our prior OpenStack Public Cloud segment is included in Private Cloud. As a result of the segment change, we allocated the goodwill of our former Multicloud Services and Apps & Cross Platform reporting units to the Public Cloud and Private Cloud reporting units based on their relative fair value. OpenStack Public Cloud remains a separate reporting unit for goodwill purposes. Due to the change in our segment reporting and the allocation of goodwill, we completed a quantitative goodwill impairment analysis both prior and subsequent to the aforementioned change. The results of the quantitative goodwill impairment analysis performed as of December 31, 2022, prior to the change, indicated an impairment within our former Apps & Cross Platform reporting unit, and we recorded a non-cash impairment charge of $129.3 million in the fourth quarter of 2022, as further discussed below. We reassigned goodwill to the updated reporting units using a relative fair value approach. The results of the quantitative goodwill impairment analysis performed as of January 1, 2023, subsequent to the reorganization, indicated an impairment within our Private Cloud reporting unit, and we recorded a non-cash impairment charge of $270.8 million in the first quarter of 2023. During the first quarter of 2023, we experienced a sustained decline in our stock price resulting in our market capitalization being less than the carrying value of our combined reporting units. As of March 31, 2023, we assessed several events and circumstances that could affect the significant inputs used to determine the fair value of our reporting units, including the significance of the amount, if any, of excess carrying value over fair value, consistency of operating margins and cash flows, budgeted-to-actual performance for the first three months of the year, overall change in economic climate, changes in the industry and competitive environment, and earnings quality and sustainability. After considering all available evidence in our evaluation of goodwill impairment indicators, we determined it appropriate to perform an interim quantitative assessment of our reporting units as of March 31, 2023. During the third quarter of 2023, we experienced a sustained decline in our stock price resulting in our market capitalization being less than the carrying value of our combined reporting units. As of September 30, 2023, we assessed several events and circumstances that could affect the significant inputs used to determine the fair value of our reporting units, including the significance of the amount, if any, of excess carrying value over fair value, consistency of operating margins and cash flows, budgeted-to-actual performance for the first nine months of the year, overall change in economic climate, changes in the industry and competitive environment, and earnings quality and sustainability. After considering all available evidence in our evaluation of goodwill impairment indicators, we determined it appropriate to perform an interim quantitative assessment of our reporting units as of September 30, 2023. Prior to October 1, 2023, we had two reporting units with goodwill: Public Cloud and Private Cloud. Goodwill allocated to our third reporting unit, OpenStack Public Cloud, was fully impaired during the fourth quarter of 2021. As of October 1, 2023, we reassessed our reporting unit structure and aggregated the OpenStack Public Cloud reporting unit into our Private Cloud reporting unit. We currently have two reporting units: Public Cloud and Private Cloud. Due to the change in our reporting units as of October 1, 2023, we completed a quantitative goodwill impairment analysis. Goodwill is tested for impairment at the reporting unit level. A reporting unit is an operating segment or one level below an operating segment (referred to as a component). We allocate goodwill to reporting units based on the reporting unit expected to benefit from the business combination. Assets and liabilities are assigned to each of our reporting units if they are employed by a reporting unit and are considered in the determination of the reporting unit fair value. Certain assets and liabilities are shared by multiple reporting units, and thus, are allocated to each reporting unit based on the relative size of a reporting unit, primarily based on revenue. For the goodwill impairment tests completed during the years ended December 31, 2021, 2022 and 2023, including the interim quantitative analyses, we compared the fair values of each of our reporting units to their respective carrying amounts. The fair values of each of our reporting units were derived using the income approach, specifically the discounted cash flow method. The discounted cash flow models reflect our assumptions and considerations regarding revenue growth rates, projected gross profit margins, projected operating costs, projected capital expenditures, risk-adjusted discount rates, terminal period growth rates, and economic market trends . As part of the goodwill impairment test, we also consider our market capitalization in assessing the reasonableness of the combined fair values estimated for our reporting units, including OpenStack Public Cloud. Goodwill impairment is measured as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the carrying amount of goodwill for that reporting unit. The results of our quantitative goodwill impairment analyses as of January 1, 2023 and March 31, 2023 indicated an impairment of goodwill within our Private Cloud reporting unit, and we recorded non-cash impairment charges of $270.8 million and $272.3 million, respectively, within "Impairment of goodwill" in our Consolidated Statements of Comprehensive Loss in the first quarter of 2023. The results of our quantitative goodwill impairment analysis as of September 30, 2023 indicated an impairment of goodwill within our Private Cloud reporting unit, and we recorded non-cash impairment charges of $165.7 million, within "Impairment of goodwill" in our Consolidated Statements of Comprehensive Loss in the third quarter of 2023. The results of our quantitative goodwill impairment analysis as of October 1, 2023 indicated no impairment of goodwill During the third quarter of 2022, we experienced a sustained decline in our stock price resulting in our market capitalization being less than the carrying value of our combined reporting units. As of September 1, 2022, we assessed several events and circumstances that could affect the significant inputs used to determine the fair value of our reporting units, including the significance of the amount of excess carrying value over fair value, consistency of operating margins and cash flows, budgeted-to-actual performance from prior year, overall change in economic climate, changes in the industry and competitive environment, and earnings quality and sustainability. In addition, as of September 1, 2022, we lowered our projected operating results primarily due to product mix shifts and market concerns related to inflation and other macroeconomic factors. As such, as of September 1, 2022, we determined it appropriate to perform an interim quantitative assessment of our reporting units, which indicated an impairment of goodwill within the former Multicloud Services reporting unit, and we recorded a non-cash impairment charge of $405.2 million within "Impairment of goodwill" in our Consolidated Statements of Comprehensive Loss in the third quarter of 2022. The results of our annual goodwill impairment test as of October 1, 2022 did not indicate any impairments of goodwill During the fourth quarter of 2022, subsequent to our annual goodwill impairment analysis, we experienced a decline in our market capitalization following a ransomware incident in early December which caused service disruptions on our Hosted Exchange email business which was included in the former Apps & Cross Platform reporting unit. After considering all available evidence in our evaluation of goodwill impairment indicators, including our lowered projected operating results within this reporting unit, we determined it appropriate to perform an interim quantitative assessment of our reporting units as of December 31, 2022, which indicated an impairment of goodwill within our former Apps & Cross Platform reporting unit, and we recorded a non-cash impairment charge of $129.3 million within "Impairment of goodwill" in our Consolidated Statements of Comprehensive Loss in the fourth quarter of 2022. The results of our annual goodwill impairment test for the year ended December 31, 2021 indicated a full impairment of goodwill within our OpenStack Public Cloud reporting unit, and we recorded a non-cash impairment charge of $52.4 million within "Impairment of goodwill" in our Consolidated Statements of Comprehensive Loss. See Note 6, "Goodwill and Intangible Assets" for more information. Our indefinite-lived intangible asset is tested for impairment at the consolidated level. In evaluating the recoverability of the Rackspace trade name, we compare the fair value of the asset to its carrying amount to determine potential impairment. Our estimate of the fair value of the Rackspace trade name is derived using the income approach, specifically the relief-from-royalty method. We performed a quantitative assessment of our indefinite-lived intangible asset prior to testing our goodwill for impairment as of January 1, 2023, March 31, 2023, and December 31, 2023 which did not indicate any impairment of the Rackspace trade name. Due to the factors discussed in the goodwill analyses above and prior to testing our goodwill for impairment, we performed a quantitative assessment of our indefinite-lived intangible asset as of September 1, 2022, December 31, 2022 and September 30, 2023. The quantitative assessment performed as of those dates indicated the estimated fair value of the Rackspace trade name was less than its carrying value. As a result, we recorded a $21.0 million, $12.0 million, and $57.0 million non-cash impairment charge as of September 1, 2022, December 31, 2022 and September 30, 2023, respectively. These charges are included in "Impairment of assets, net" in our Consolidated Statements of Comprehensive Loss in the third quarter of 2022, fourth quarter of 2022, and third quarter of 2023, respectively. The results of our annual indefinite-lived asset impairment test as of October 1, 2022 did not indicate any impairment of the Rackspace trade name. The results of our indefinite-lived asset impairment test for the year ended December 31, 2021 did not indicate any impairments of the Rackspace trade name. The fair value determination of our reporting units and our indefinite-lived intangible asset is judgmental in nature and requires the use of significant estimates and assumptions that are sensitive to changes. Assumptions include estimation of the royalty rate for the trade name, estimation of future revenue and projected margins, which are dependent on internal cash flow forecasts, estimation of the terminal growth rates and capital spending, and determination of discount rates. As a result, there can be no assurance that the estimates and assumptions made for purposes of the quantitative goodwill and indefinite-lived intangible impairment tests will prove to be an accurate prediction of future results. Examples of events or circumstances that could reasonably be expected to negatively affect the underlying key assumptions and ultimately impact the estimated fair value of our reporting units may include such items as: (i) volatility in the equity and debt markets or other macroeconomic factors, (ii) an increase in the weighted-average cost of capital due to further increases in interest rates, (iii) decrease in future cash flows due to lower than expected sales, or (iv) fluctuations in foreign currency exchange rates that may negatively impact our reported results of operations. Accordingly, if our current cash flow assumptions are not realized, we experience further sustained declines in our stock price or market capitalization, or increases in costs of capital, it is possible that an additional impairment charge may be recorded in the future, which could be material. Business Combinations Mergers and acquisitions are accounted for using the acquisition method, in accordance with accounting guidance for business combinations. Under the acquisition method, we allocate the fair value of purchase consideration to the tangible and intangible assets ("identifiable assets") acquired and liabilities assumed based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of the identifiable assets and liabilities is recorded as goodwill. When determining the fair values of identifiable assets acquired and liabilities assumed, including contingent consideration when applicable, we make significant estimates and assumptions based on historical data, estimated discounted future cash flows, expected royalty rates for trade names, as well as certain other information. During the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the fair value of identifiable assets acquired and liabilities assumed, with the corresponding offset to goodwill. Investments We have equity investments in entities in which we do not exercise significant influence. Investments in equity securities with readily determinable fair values are measured at fair value with changes in fair value recognized in net loss. Investments in equity securities that do not have readily determinable fair values are measured at cost less any impairments, adjusted for observable pricing changes in orderly transactions for identical or similar investments of the same issuer. We perform a qualitative assessment on these investments at each reporting period to determine whether any indicators of impairment exist. If an impairment exists, we recognize an impairment charge equal to the amount by which the carrying value exceeds the fair value of the investment. The aggregate carrying value of equity investments that do not have a readily determinable fair value was $5.1 million as of December 31, 2022 and 2023. Leases

Customer Contracts

Customer Contracts	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Customer Contracts	Customer Contracts The following table presents the balances related to customer contracts: (In millions) Consolidated Balance Sheets Account December 31, 2021 December 31, 2022 December 31, 2023 Accounts receivable, net Accounts receivable, net (1) $ 554.3 $ 622.2 $ 339.7 Current portion of contract assets Other current assets $ 15.2 $ 16.0 $ 10.7 Non-current portion of contract assets Other non-current assets $ 13.1 $ 10.4 $ 8.6 Current portion of deferred revenue Deferred revenue $ 98.6 $ 80.9 $ 78.8 Non-current portion of deferred revenue Other non-current liabilities $ 13.6 $ 8.6 $ 5.3 (1) Allowance for credit losses and accrued customer credits was $18.4 million, $24.6 million and $20.1 million as of December 31, 2021, 2022 and 2023, respectively. The following table sets forth the changes in the allowance for credit losses during the years ended December 31, 2021, 2022 and 2023: (In millions) Beginning Balance Additions (1) Write-offs of Accounts Receivables, Net of Recoveries Ending Balance For the years ending December 31, 2021 $ 16.2 $ 5.4 $ (7.9) $ 13.7 2022 $ 13.7 $ 11.0 $ (6.3) $ 18.4 2023 $ 18.4 $ 9.2 $ (13.4) $ 14.2 (1) Additions to the allowance for credit losses are charged to bad debt within "Selling, general and administrative expenses." Amounts recognized in revenue for the years ended December 31, 2021, 2022 and 2023, which were included in deferred revenue as of the beginning of the period totaled $76.7 million, $98.6 million and $80.9 million, respectively. Cost Incurred to Obtain and Fulfill a Contract As of December 31, 2022 and 2023, the balances of capitalized costs to obtain a contract were $55.8 million and $42.0 million, respectively, and the balances of capitalized costs to fulfill a contract were $17.7 million and $13.4 million, respectively. These capitalized costs are included in "Other non-current assets" on the Consolidated Balance Sheets. Amortization of capitalized sales commissions and implementation costs were as follows: Year Ended December 31, (In millions) 2021 2022 2023 Amortization of capitalized sales commissions $ 43.7 $ 43.7 $ 38.1 Amortization of capitalized implementation costs $ 18.1 $ 16.4 $ 13.0 Remaining Performance Obligations As of December 31, 2023, the aggregate amount of transaction price allocated to remaining performance obligations was $448.9 million, of which approximately 69% is expected to be recognized as revenue during 2024 and the remainder thereafter. These remaining performance obligations primarily relate to our fixed-term arrangements. The aggregate amount of transaction price excludes variable consideration related to our usage-based arrangements for which we recognize revenue based on the right to invoice for the services performed. Convertible Promissory Note On September 27, 2022, we entered into a convertible note purchase agreement with a private company that is also a customer and a vendor. Pursuant to the purchase agreement, we purchased an unsecured convertible promissory note (the "Note") in an aggregate principal amount of $15.0 million. The Note accrues simple interest at a rate of 6% per annum and matures on September 27, 2027, unless earlier converted per the terms of the agreement. Principal and accrued interest are due and payable on the maturity date. We have elected to apply the fair value option under ASC No. 825, Financial Instruments , to account for the Note. As of December 31, 2022 and 2023, the fair value of the Note was $11.8 million and $12.8 million, respectively, and is included in "Other non-current assets" on our Consolidated Balance Sheets.

Sale of Receivables

Sale of Receivables	12 Months Ended
	Dec. 31, 2023
Transfers and Servicing [Abstract]
Sale of Receivables	Sale of Receivables On September 29, 2023 (the “Closing Date”), Rackspace US and Rackspace Receivables II, LLC, a bankruptcy-remote SPV, each an indirect subsidiary of the company, entered into the Receivables Purchase Facility with PNC and other parties thereto. On February 12, 2024, the Receivables Purchase Facility was amended to include certain international subsidiaries of the company as parties to the agreement. Under the Receivables Purchase Facility, certain indirect wholly-owned subsidiaries of the company have sold and/or contributed, and may continue to sell and/or contribute on a revolving basis, their current and future accounts receivable to the SPV, which, in turn, will sell and transfer, and may continue to sell and transfer, certain of the accounts receivable to PNC in exchange for cash. The Receivables Purchase Facility will terminate on September 29, 2026 unless earlier terminated in accordance with its terms and the SPV can sell accounts receivable based upon the face amount of eligible receivables in the collateral pool up to an aggregate maximum limit of $300.0 million. The purpose of this arrangement is to enhance the company's financial flexibility by providing additional liquidity. The Receivables Purchase Facility is subject to yield charges based upon a rate as specified in the agreement. The SPV is also required to pay certain customary fees on a monthly basis in addition to an upfront fee and a commitment fee. The Receivables Purchase Facility contains certain customary termination events, as well as customary representations and warranties, affirmative and negative covenants, indemnification provisions, and events of default, including those providing for the acceleration of amounts owed by the SPV to PNC upon the occurrence of certain events. The transfers of accounts receivable to PNC are accounted for as sales in accordance with ASC 860 because effective control and risk associated with the transferred accounts receivable is passed to PNC. As these transfers represent true sales, we derecognize the sold accounts receivable from our Consolidated Balance Sheets. Cash proceeds related to the accounts receivable sold are included in cash from operating activities in the Consolidated Statements of Cash Flows. Yield charges and fees recorded in connection with the sales are recorded within “Other expense, net” in the Consolidated Statements of Comprehensive Loss. The company maintains continuing involvement with the sold accounts receivable by providing collection services in exchange for a servicing fee. Servicing fees are immaterial and no servicing asset or liability has been recognized. The company may incur a recourse obligation on the sold accounts receivable in limited circumstances. Separate accruals have been established for recourse obligations and are immaterial as of December 31, 2023. Cash collected on pledged accounts receivable, which have not been sold, are included in cash from operating activities in the Consolidated Statements of Cash Flows. In connection with accounts receivable sold during 2023, we recorded $10.6 million of expense, consisting of $6.0 million of yield charges and fees and $4.6 million of upfront transaction costs associated with the execution of the agreement, within “Other expense, net” in the Consolidated Statements of Comprehensive Loss for the year ended December 31, 2023. The outstanding portfolio of sold accounts receivable derecognized from our Consolidated Balance Sheet as of December 31, 2023 was $223.8 million. The SPV holds unsold accounts receivable of $125.6 million as of December 31, 2023 that are pledged as collateral to PNC.

Net Loss Per Share

Net Loss Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share Basic net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted average shares outstanding during the period. The following table sets forth the computation of basic and diluted net loss per share: Year Ended December 31, (In millions, except per share data) 2021 2022 2023 Basic and diluted net loss per share: Net loss attributable to common stockholders $ (218.3) $ (804.8) $ (837.8) Weighted average shares outstanding: Common stock 208.0 211.2 215.3 Number of shares used in per share computations 208.0 211.2 215.3 Net loss per share $ (1.05) $ (3.81) $ (3.89) Potential common share equivalents consist of shares issuable upon the exercise of stock options, vesting of restricted stock or purchase under the ESPP, as well as contingent shares associated with our acquisition of Datapipe. Since we were in a net loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods as the inclusion of all potential common shares outstanding would have been anti-dilutive. We excluded 19.2 million, 23.3 million and 38.6 million potential common shares from the computation of dilutive loss per share for the years ended December 31, 2021, 2022 and 2023, respectively, because the effect would have been anti-dilutive.

Property, Equipment and Softwar

Property, Equipment and Software, net	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Equipment and Software, net	Property, Equipment and Software, net Property, equipment and software, net, consisted of the following: (In millions) December 31, December 31, Computers and equipment $ 1,131.2 $ 1,154.9 Software 464.2 452.8 Furniture and fixtures 15.8 14.5 Buildings and leasehold improvements 402.2 411.8 Property, equipment and software, at cost 2,013.4 2,034.0 Less: Accumulated depreciation (1,400.3) (1,442.1) Work in process 15.2 16.9 Property, equipment and software, net $ 628.3 $ 608.8 On January 15, 2021, we completed the sale of a parcel of undeveloped land in the United Kingdom adjacent to one of our existing data centers. The net book value of the land prior to the sale was $11.4 million and we received cash proceeds of $32.2 million, less brokerage and professional fees of $0.9 million, resulting in net cash proceeds of $31.3 million. Therefore, we recorded a gain on sale of land of $19.9 million to "Gain on sale of land" in the Consolidated Statements of Comprehensive Loss for the year ended December 31, 2021. For the year ended December 31, 2022, we recognized property, equipment and software impairment charges of $15.3 million, included in "Impairment of assets, net", related to the OpenStack Public Cloud long-lived assets. See Note 1, "Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies," for discussion of the long-lived asset impairment charges. In October 2022, we announced our intention to sell our current corporate headquarters facility located in Windcrest, Texas and relocate our corporate headquarters to leased office space in San Antonio, Texas. As of December 31, 2022, this property met the criteria to be classified as held for sale under GAAP. The property's previous carrying amount of $82.7 million was written down to its estimated fair value, less estimated cost to sell, of $12.1 million, resulting in a $70.6 million impairment charge which is included in "Impairment of assets, net" in our Consolidated Statements of Comprehensive Loss for the year ended December 31, 2022. The property's estimated fair value, less estimated cost to sell, of $12.1 million was recorded in "Other current assets" in the Consolidated Balance Sheets as of December 31, 2022. We recorded this impairment charge prior to performing the December 31, 2022 goodwill impairment test. See Note 6, "Goodwill and Intangible Assets" for more information. In July 2023, we entered into a purchase and sale agreement with a potential buyer of the property for $21.5 million. Under held for sale accounting, the carrying amount of the property held for sale should be remeasured each reporting period for changes in fair value less cost to sell. As such, we increased the property’s estimated fair value, less estimated cost to sell, to $20.7 million as of September 30, 2023, resulting in an $8.6 million gain, which is included in "Impairment of assets, net" in our Consolidated Statements of Comprehensive Loss for the year ended December 31, 2023. In December 2023, we entered into an amendment to the purchase and sale agreement originally executed in July 2023. This amendment lowered the original purchase price of $21.5 million to $17.5 million. As such, we reduced the property’s estimated fair value, less estimated cost to sell, to $16.9 million as of December 31, 2023, resulting in a $3.8 million loss, which is included in "Impairment of assets, net" in our Consolidated Statements of Comprehensive Loss for the year ended December 31, 2023. We are currently in negotiations with certain local governments and other parties to terminate the Master Economic Incentives Agreement associated with the property which could require us to pay a termination fee upon completion of the sale. Depreciation expense related to property, equipment and software was $245.1 million, $220.9 million and $208.7 million for the years ended December 31, 2021, 2022 and 2023, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The following table sets forth the changes in the carrying amounts of goodwill by reportable segment during the years ended December 31, 2022 and 2023. As a result of the January 1, 2023 reorganization, we changed our segment reporting to reflect this reorganization under two reportable segments: Public Cloud and Private Cloud. Accordingly, we reallocated the total consolidated net balance of goodwill as of January 1, 2023 under the new segments, shown below: (In millions) Public Cloud Private Cloud Multicloud Services Apps & Cross Platform OpenStack Public Cloud Total Consolidated Gross goodwill as of December 31, 2021 $ — $ — $ 2,679.3 $ 322.5 $ 52.4 $ 3,054.2 Less: Accumulated impairment charges — — (295.0) — (52.4) (347.4) Goodwill, net as of December 31, 2021 — — 2,384.3 322.5 — 2,706.8 Just Analytics acquisition — — — 5.9 — 5.9 Impairment of goodwill — — (405.2) (129.3) — (534.5) Foreign currency translation — — (22.7) (0.4) — (23.1) Goodwill, net as of December 31, 2022 $ — $ — $ 1,956.4 $ 198.7 $ — $ 2,155.1 Gross goodwill as of December 31, 2022 $ — $ — $ 2,656.6 $ 328.0 $ 52.4 $ 3,037.0 Less: Accumulated impairment charges — — (700.2) (129.3) (52.4) (881.9) Goodwill, net as of December 31, 2022 — — 1,956.4 198.7 — 2,155.1 Reallocation adjustment (1) 594.7 1,560.4 (1,956.4) (198.7) — — Impairment of goodwill — (708.8) — — — (708.8) Foreign currency translation 3.0 3.1 — — — 6.1 Goodwill, net as of December 31, 2023 $ 597.7 $ 854.7 $ — $ — $ — $ 1,452.4 Gross goodwill as of December 31, 2023 $ 597.7 $ 1,563.5 $ — $ — $ — $ 2,161.2 Less: impairment charges (2) — (708.8) — — — (708.8) Goodwill, net as of December 31, 2023 $ 597.7 $ 854.7 $ — $ — $ — $ 1,452.4 (1) Represents the adjustment to reallocate goodwill of the former Multicloud Services and Apps & Cross Platform reportable segments to Public Cloud and Private Cloud reportable segments, using the relative fair value basis, as a result of the January 1, 2023 reorganization. (2) On a consolidated basis, gross and net goodwill as of December 31, 2023 was $3,043.1 million and $1,452.4 million, respectively. This includes $1,590.7 million of accumulated impairment charges as of December 31, 2023. Management exercised significant judgment related to the determination of the fair value of each reporting unit. The fair value of each reporting unit was estimated using the discounted cash flow method. The discounted cash flow methodology requires significant judgment, including estimation of our assumptions and considerations regarding future revenue growth rates, projected gross profit margins, projected operating costs, projected capital expenditures which are dependent on internal forecasts, estimation of the risk-adjusted discount rates, and economic and market trends. Changes in these estimates and assumptions could materially affect the fair value of the reporting unit, potentially resulting in an impairment charge. Due to the change in our segment reporting as a result of the business reorganization as of January 1, 2023, we completed a quantitative goodwill impairment analysis as of January 1, 2023, subsequent to the aforementioned change. The results of the quantitative goodwill impairment analysis indicated an impairment within our Private Cloud reporting unit, and we recorded a non-cash impairment charge of $270.8 million in the first quarter of 2023. During the first quarter of 2023, we performed an interim quantitative assessment of our reporting units as of March 31, 2023. The results of our interim quantitative goodwill impairment analysis performed as of March 31, 2023 indicated an impairment of goodwill within our Private Cloud reporting unit, and we recorded an additional non-cash impairment charge of $272.3 million in the first quarter of 2023. The impairment was driven by the company's most recent cash flow projections as revised in the first quarter of 2023 which reflected current market conditions and current trends in business performance, including slower than anticipated actualization of bookings. During the third quarter of 2023, we performed an interim quantitative assessment of our reporting units as of September 30, 2023. The results of our interim quantitative goodwill impairment analysis performed as of September 30, 2023 indicated an impairment of goodwill within our Private Cloud reporting unit, and we recorded a non-cash impairment charge of $165.7 million in the third quarter of 2023. The impairment was driven by the company's cash flow projections as revised in the third quarter of 2023 to reflect current market conditions and business mix shifts. As of October 1, 2023, we reassessed our reporting units and combined our Private Cloud and OpenStack Public Cloud reporting units into a new Private Cloud reporting unit. We completed a quantitative goodwill impairment analysis as of October 1, 2023, subsequent to the aforementioned change. The results of the quantitative goodwill impairment analysis indicated no impairment to goodwill. During the third quarter of 2022, we performed an interim quantitative assessment of our reporting units as of September 1, 2022. The results of our interim quantitative goodwill impairment analysis performed as of September 1, 2022 indicated an impairment of goodwill within our former Multicloud Services reporting unit, and we recorded a non-cash impairment charge of $405.2 million. The impairment was driven by lowered projected operating results primarily due to product mix shifts and market concerns related to inflation and other macroeconomic factors. During the fourth quarter of 2022, we performed our annual goodwill impairment test as of October 1, 2022 and the results of our test did not indicate any further impairment of goodwill. In the fourth quarter of 2022, we performed an additional interim quantitative assessment of our reporting units as of December 31, 2022. We determined that the carrying amount of our former Apps & Cross Platform reporting unit exceeded its fair value and recorded a goodwill impairment charge of $129.3 million. The impairment was driven by a decrease in forecasted revenues, margins, and cash flows within the reporting unit, primarily due to the Hosted Exchange incident and other macroeconomic factors. During the fourth quarter of 2021, we performed our annual goodwill impairment test. We determined that the carrying amount of our OpenStack Public Cloud reporting unit exceeded its fair value and fully impaired its goodwill by recording a goodwill impairment charge of $52.4 million. The impairment was driven by deteriorating forecasted margins and cash flows within the reporting unit primarily due to operating costs declining at a slower rate than previously anticipated even after factoring in the long term impacts of the July 2021 Restructuring Plan. See Note 1, "Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies," for additional discussion of the goodwill impairment charges recorded during the years ended December 31, 2021, 2022 and 2023. As of December 31, 2023, our accumulated goodwill impairment charges totaled $708.8 million. The following table provides information regarding our intangible assets other than goodwill: December 31, 2022 December 31, 2023 (In millions) Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Customer relationships $ 1,928.5 $ (914.9) $ 1,013.6 $ 1,932.0 $ (1,073.9) $ 858.1 Other 27.7 (22.3) 5.4 27.8 (26.9) 0.9 Total definite-lived intangible assets 1,956.2 (937.2) 1,019.0 1,959.8 (1,100.8) 859.0 Trade name (indefinite-lived) 217.0 — 217.0 160.0 — 160.0 Total intangible assets other than goodwill $ 2,173.2 $ (937.2) $ 1,236.0 $ 2,119.8 $ (1,100.8) $ 1,019.0 During the year ended December 31, 2023 we recognized impairment charges of $57.0 million related to our trade name indefinite-lived intangible asset. Additionally, during the year ended December 31, 2022 we recognized impairment charges These impairment charges are recorded in “Impairment of assets, net” in our Consolidated Statements of Comprehensive Loss for the years ended December 31, 2022 and 2023. In connection with the classification of our corporate headquarters facility as held for sale as of December 31, 2022, we wrote-off the remaining $4.8 million net book value of the related property tax abatement asset to " Impairment of assets, net For additional information, see the discussion of our impairment charges in Note 1, "Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies." Amortization expense related to intangibles was $179.7 million, $166.8 million and $161.0 million for the years ended December 31, 2021, 2022 and 2023, respectively. As of December 31, 2023, amortization of intangible assets for the next five years and thereafter is expected to be as follows: (In millions) Intangible Assets Year ending: 2024 $ 154.4 2025 146.8 2026 123.9 2027 117.3 2028 117.3 Thereafter 199.3 Total $ 859.0

Debt

Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	Debt Debt consisted of the following: (In millions, except %) December 31, 2022 December 31, 2023 Debt Instrument Maturity Date Interest Rate (1) Amount Interest Rate (1) Amount Term Loan Facility February 15, 2028 7.38% $ 2,259.8 8.23% $ 2,181.2 Revolving Credit Facility August 7, 2025 —% — —% — 3.50% Senior Secured Notes February 15, 2028 3.50% 550.0 3.50% 513.7 5.375% Senior Notes December 1, 2028 5.375% 550.0 5.375% 197.6 Less: unamortized debt issuance costs (30.7) (21.4) Less: unamortized debt discount (10.7) (8.5) Total debt 3,318.4 2,862.6 Less: current portion of debt (23.0) (23.0) Debt, excluding current portion $ 3,295.4 $ 2,839.6 (1) Interest rates are as of each respective balance sheet date. Senior Facilities The Senior Facilities include the Term Loan Facility and Revolving Credit Facility, and is governed by the First Lien Credit Agreement with Citi as the administrative agent. On February 9, 2021, we amended and restated the First Lien Credit Agreement, which included a new seven-year $2,300.0 million senior secured first lien term loan facility due on February 15, 2028 (the Term Loan Facility) and our existing $375.0 million Revolving Credit Facility. We used the borrowings under the Term Loan Facility, together with the proceeds from the issuance of the 3.50% Senior Secured Notes described below (together, the February 2021 Refinancing Transaction), to repay all borrowings under the Prior Term Loan Facility, to pay related fees and expenses and for general corporate purposes. On April 26, 2023, we executed an amendment to our First Lien Credit Agreement to establish Term SOFR as the benchmark rate for determining the applicable interest rate, replacing LIBOR. As a result of the amendment, borrowings under the Senior Facilities bear interest at an annual rate equal to an applicable margin plus, at our option, either (a) Term SOFR equal to the forward-looking term rate, based on the secured overnight financing rate as administered by the Federal Reserve Bank of New York, for the interest period relevant to such borrowing, plus a credit spread adjustment of 0.11% for an interest period of one-month's duration, 0.26% for an interest period of three-months' duration, and 0.43% for an interest period of six-months' duration, subject to a 0.75% floor, in the case of the Term Loan Facility, and a 1.00% floor, in the case of the Revolving Credit Facility, or (b) a base rate determined by reference to the highest of (i) the federal funds rate plus 0.50%, (ii) the prime rate of Citi and (iii) adjusted Term SOFR for a one-month tenor plus 1.00%. The applicable margin for the Term Loan Facility is 2.75% for SOFR loans and 1.75% for base rate loans and the applicable margin for the Revolving Credit Facility is 3.00% for SOFR loans and 2.00% for base rate loans. Interest is due at the end of each interest period elected, not exceeding 90 days, for SOFR loans and at the end of every calendar quarter for base rate loans. All other material terms and conditions of the First Lien Credit Agreement were unchanged. In addition to paying interest on the outstanding principal under the Senior Facilities, the Revolving Credit Facility also includes a commitment fee equal to 0.50% per annum in respect of the unused commitments that is due quarterly. This commitment fee is subject to one step-down based on the net first lien leverage ratio. As of December 31, 2023, the interest rate on the Term Loan Facility was 8.23%. We are required to make quarterly principal payments of $5.8 million, which began on June 30, 2021. See Note 15, "Derivatives" for information on interest rate swap agreements we utilize to manage the interest rate risk on the Term Loan Facility. Affiliates of ABRY are Term Loan Facility lenders under the First Lien Credit Agreement. As of December 31, 2023, the outstanding principal amount of the Term Loan Facility was $2,181.2 million, of which $58.4 million, or 2.7%, is due to ABRY affiliates. Investment funds affiliated with ABRY are also co-investors in Rackspace Technology. As of December 31, 2023, Apollo also held $24.2 million, or 1.1%, of the outstanding principal amount of the Term Loan Facility. In addition to the quarterly amortization payments discussed above, the Senior Facilities require us to make certain mandatory prepayments, including using (i) a portion of annual excess cash flow, as defined in the First Lien Credit Agreement, to prepay the Term Loan Facility, (ii) net cash proceeds of certain non-ordinary assets sales or dispositions of property to prepay the Term Loan Facility, and (iii) net cash proceeds of any issuance or incurrence of debt not permitted under the Senior Facilities to prepay the Term Loan Facility. We may make voluntary prepayments at any time without penalty, except in connection with a repricing event, as defined in the First Lien Credit Agreement. During the year ended December 31, 2023, Rackspace Technology Global repurchased and surrendered for cancellation $55.6 million principal amount of the Term Loan Facility for $29.5 million. In connection with this repurchase, we recorded a gain on debt extinguishment of $25.5 million included in “Debt modification costs and gain (loss) on debt extinguishment” in our Consolidated Statements of Comprehensive Loss for the year ended December 31, 2023, which includes $0.6 million of unamortized debt issuance costs and debt discount write-offs. The fair value of the Term Loan Facility as of December 31, 2023 was $935.3 million, based on quoted market prices for identical assets that are traded in over-the-counter secondary markets that are not considered active. The fair value of the Term Loan Facility is classified as Level 2 within the fair value hierarchy. Rackspace Technology Global is the borrower under the Senior Facilities, and all obligations under the Senior Facilities are (i) guaranteed by Inception Parent, Rackspace Technology Global’s immediate parent company, on a limited recourse basis and secured by the equity interests of Rackspace Technology Global held by Inception Parent, and (ii) guaranteed by Rackspace Technology Global’s wholly-owned domestic restricted subsidiaries and secured by substantially all material owned assets of Rackspace Technology Global and the subsidiary guarantors, including the equity interests held by each, in each case subject to certain exceptions. The only financial covenant is with respect to the Revolving Credit Facility which limits the net first lien leverage ratio to a maximum of 5.00 to 1.00; however, this covenant is only applicable and tested if the aggregate amount of outstanding borrowings under the Revolving Credit Facility and letters of credit issued thereunder (excluding $25.0 million of undrawn letters of credit and cash collateralized letters of credit) is equal to or greater than 35% of the Revolving Credit Facility commitments at the end of a fiscal quarter. Other covenants include limitations on restricted payments, indebtedness, investments, liens, asset sales and transactions with affiliates. As of December 31, 2023, we were in compliance with all covenants under the Senior Facilities. The Revolving Credit Facility matures on August 7, 2025. During the year ended December 31, 2023, we borrowed and fully repaid $50.0 million. As of December 31, 2023, we had total commitments of $375.0 million, no outstanding borrowings under the Revolving Credit Facility, and $3.5 million of letters of credit issued thereunder. As such, as of December 31, 2023, we had $375.0 million of available commitments remaining. 3.50% Senior Secured Notes due 2028 On February 9, 2021, Rackspace Technology Global issued $550.0 million aggregate principal amount of 3.50% Senior Secured Notes due 2028. The 3.50% Senior Secured Notes will mature on February 15, 2028 and bear interest at an annual fixed rate of 3.50%. Interest is payable semiannually on each February 15 and August 15, commencing on August 15, 2021. The 3.50% Senior Secured Notes are not subject to registration rights. As noted above, we used the net proceeds from the issuance of the 3.50% Senior Secured Notes, together with borrowings under the Term Loan Facility described above, to repay all borrowings outstanding under the Prior Term Loan Facility, to pay related fees and expenses and for general corporate purposes. Rackspace Technology Global is the issuer of the 3.50% Senior Secured Notes, and obligations under the 3.50% Senior Secured Notes are fully and unconditionally guaranteed, jointly and severally, by all of Rackspace Technology Global’s wholly-owned domestic restricted subsidiaries (as subsidiary guarantors) that guarantee the Senior Facilities. The 3.50% Senior Secured Notes and the related guarantees are secured by first-priority security interests in substantially all material owned assets of Rackspace Technology Global and the subsidiary guarantors, including the equity interest held by each, subject to certain exceptions, which assets also secure the Senior Facilities. The 3.50% Notes Indenture describes certain terms and conditions under which other current and future domestic subsidiaries are required to become guarantors of the 3.50% Senior Secured Notes. Rackspace Technology Global may redeem the 3.50% Senior Secured Notes at its option, in whole at any time or in part from time to time, at the following redemption prices: from February 15, 2024 to February 14, 2025, at a redemption price equal to 101.750% of the principal amount, plus accrued and unpaid interest, if any, to but excluding the redemption date; from February 15, 2025 to February 14, 2026, at a redemption price equal to 100.875% of the principal amount, plus accrued and unpaid interest, if any, to but excluding the redemption date; and from February 15, 2026 and thereafter, at a redemption price equal to 100.000% of the principal amount, plus accrued and unpaid interest, if any, to but excluding the redemption date. Notwithstanding the foregoing, Rackspace Technology Global may redeem during each twelve-month period, commencing with February 9, 2021, up to 10.0% of the original aggregate principal amount of the 3.50% Senior Secured Notes at a redemption price of 103.000%, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. During the year ended December 31, 2023, Rackspace Technology Global repurchased and surrendered for cancellation $36.3 million principal amount of 3.50% Senior Secured Notes for $18.4 million, including accrued interest of $0.3 million. In connection with this repurchase, we recorded a gain on debt extinguishment of $17.9 million included in “Debt modification costs and gain (loss) on debt extinguishment” in our Consolidated Statements of Comprehensive Loss for the year ended December 31, 2023, which includes $0.3 million of unamortized debt issuance costs write-offs. The 3.50% Notes Indenture contains covenants that, among other things, limit our ability to incur certain additional debt, incur certain liens securing debt, pay certain dividends or make other restricted payments, make certain investments, make certain asset sales and enter into certain transactions with affiliates. These covenants are subject to a number of exceptions, limitations, and qualifications as set forth in the 3.50% Notes Indenture. Additionally, upon the occurrence of a change of control (as defined in the 3.50% Notes Indenture), we will be required to make an offer to repurchase all of the outstanding 3.50% Senior Secured Notes at a price in cash equal to 101.000% of the aggregate principal amount, plus accrued and unpaid interest, if any, to, but not including the purchase date. As of December 31, 2023, Rackspace Technology Global was in compliance with all covenants under the 3.50% Notes Indenture. The fair value of the 3.50% Senior Secured Notes as of December 31, 2023 was $204.2 million, based on quoted market prices for identical assets that are traded in over-the-counter secondary markets that are not considered active. The fair value of the 3.50% Senior Secured Notes are classified as Level 2 within the fair value hierarchy. 5.375% Senior Notes due 2028 Rackspace Technology Global issued $550.0 million aggregate principal amount of the 5.375% Senior Notes on December 1, 2020. The 5.375% Senior Notes will mature on December 1, 2028 and bear interest at an annual fixed rate of 5.375%. Interest is payable semiannually on each June 1 and December 1, commencing on June 1, 2021. The 5.375% Senior Notes are not subject to registration rights. Rackspace Technology Global is the issuer of the 5.375% Senior Notes, and obligations under the 5.375% Senior Notes are guaranteed on a senior unsecured basis by all of Rackspace Technology Global’s wholly-owned domestic restricted subsidiaries (as subsidiary guarantors) that guarantee the Senior Facilities. The 5.375% Senior Notes are effectively junior to the indebtedness under the Senior Facilities and the 3.50% Senior Secured Notes, to the extent of the collateral securing the Senior Facilities and the 3.50% Senior Secured Notes. The 5.375% Notes Indenture describes certain terms and conditions under which other current and future domestic subsidiaries are required to become guarantors of the 5.375% Senior Notes. Rackspace Technology Global may redeem the 5.375% Senior Notes at its option, in whole at any time or in part from time to time, at the following redemption prices: from December 1, 2023 to November 30, 2024, at a redemption price equal to 102.688% of the principal amount, plus accrued and unpaid interest, if any, to but excluding the redemption date; from December 1, 2024 to November 30, 2025, at a redemption price equal to 101.344% of the principal amount, plus accrued and unpaid interest, if any, to but excluding the redemption date; and from December 1, 2025 and thereafter, at a redemption price equal to 100.000% of the principal amount, plus accrued and unpaid interest, if any, to but excluding the redemption date. During the year ended December 31, 2023, Rackspace Technology Global repurchased and surrendered for cancellation $352.4 million principal amount of 5.375% Senior Notes for $124.1 million, including accrued interest of $2.8 million. In connection with these repurchases, we recorded a gain on debt extinguishment of $227.9 million included in “Debt modification costs and gain (loss) on debt extinguishment” in our Consolidated Statements of Comprehensive Loss for the year ended December 31, 2023, which includes $3.2 million of unamortized debt issuance costs write-offs. The 5.375% Notes Indenture contains covenants that, among other things, limit our ability to incur certain additional debt, incur certain liens securing debt, pay certain dividends or make other restricted payments, make certain investments, make certain asset sales and enter into certain transactions with affiliates. These covenants are subject to a number of exceptions, limitations, and qualifications as set forth in the 5.375% Notes Indenture. Additionally, upon the occurrence of a change of control (as defined in the 5.375% Notes Indenture), we will be required to make an offer to repurchase all of the outstanding 5.375% Senior Notes at a price in cash equal to 101.000% of the aggregate principal amount, plus accrued and unpaid interest, if any, to, but not including the purchase date. As of December 31, 2023, Rackspace Technology Global was in compliance with all covenants under the 5.375% Notes Indenture. The fair value of the 5.375% Senior Notes as of December 31, 2023 was $68.9 million, based on quoted market prices for identical assets that are traded in over-the-counter secondary markets that are not considered active. The fair value of the 5.375% Senior Notes are classified as Level 2 within the fair value hierarchy. Accounts Receivable Financing Agreement Under the Receivables Financing Facility entered into in 2020, a bankruptcy-remote SPV indirectly wholly owned by Rackspace Technology Global granted a security interest in all of its current and future receivables and related assets in exchange for a credit facility permitting borrowings of up to a maximum aggregate amount of $100.0 million from time to time. Rackspace Technology Global was the primary beneficiary of the SPV. During the year ended December 31, 2021, the SPV repaid $15.0 million to cover a borrowing base deficit, repaid the outstanding balance of $50.0 million and terminated the Receivables Financing Facility. The termination resulted in expense of $0.5 million recorded within “Debt modification costs and gain (loss) on debt extinguishment” in our Consolidated Statements of Comprehensive Loss for the year ended December 31, 2021. The expense was comprised of the write-off of the unamortized debt issuance costs, as well as third party fees associated with the termination. February 2021 Refinancing Transaction The February 2021 Refinancing Transaction represented an extinguishment and modification of debt. We derecognized $2,795.6 million of the Prior Term Loan Facility and wrote off $9.4 million in unamortized debt issuance costs and debt discount associated with the portion of the Prior Term Loan Facility that was deemed extinguished. We recognized $2,300.0 million borrowed under the Term Loan Facility and $41.0 million of associated debt issuance costs and debt discount, including amounts allocated from the Prior Term Loan Facility, both classified as a direct deduction from the carrying value of non-current debt on our Consolidated Balance Sheets. We recognized $550.0 million aggregate principal amount of the 3.50% Senior Secured Notes due 2028 and $6.8 million of associated debt issuance costs, including amounts allocated from the Prior Term Loan Facility. The February 2021 Refinancing Transaction resulted in expense of $37.0 million recorded within “Debt modification costs and gain (loss) on debt extinguishment” in our Consolidated Statements of Comprehensive Loss for the year ended December 31, 2021. The expense was comprised of the write-off of unamortized debt issuance costs and debt discount associated with the portion of the Prior Term Loan Facility that was deemed extinguished, as well as $27.6 million in third party fees associated with the modification. Debt Maturities The maturities of debt obligations for the next five years at December 31, 2023 are as follows: (In millions) Amount Year ending: 2024 $ 23.0 2025 23.0 2026 23.0 2027 23.0 2028 2,800.5 Thereafter — Total $ 2,892.5 March 2024 Refinancing Transactions See Note 1, "Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies-Subsequent Events," for a discussion of the public and private debt exchange and related transactions that impacted or are expected to impact the Senior Facilities, the 3.50% Senior Secured Notes and the 5.375% Senior Notes.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases Assets recorded as property and equipment under finance leases, and the related accumulated depreciation balances as of December 31, 2022 and 2023 were as follows: December 31, 2022 December 31, 2023 (In millions) Computers and equipment $ 192.5 $ 159.7 Buildings 285.9 290.3 Less: Accumulated depreciation (140.0) (124.2) Net book value of property and equipment under finance leases $ 338.4 $ 325.8 The components of operating and finance lease expense for the years ended December 31, 2021, 2022 and 2023 were as follows: Year Ended December 31, (In millions) 2021 2022 2023 Operating lease expense: Fixed lease expense $ 62.2 $ 58.1 $ 63.3 Variable lease expense 18.8 17.9 21.7 Short-term lease expense 0.4 0.7 1.2 Sublease income (2.6) (2.4) (0.8) Total operating lease expense $ 78.8 $ 74.3 $ 85.4 Finance lease expense: Depreciation of finance lease assets $ 46.3 $ 51.2 $ 55.8 Interest expense on finance lease liabilities 28.2 23.5 26.6 Total finance lease expense $ 74.5 $ 74.7 $ 82.4 Supplemental operating cash flow information related to operating and finance leases for the years ended December 31, 2021, 2022 and 2023 were as follows: Year Ended December 31, (In millions) 2021 2022 2023 Cash payments for lease liabilities included within operating activities: Operating leases $ (78.4) $ (73.3) $ (80.2) Finance leases (26.9) (26.7) (29.2) Operating leases: New lease assets obtained in exchange for lease liabilities $ 18.6 $ 17.3 $ 43.1 Modified/renewed lease assets obtained in exchange for lease liabilities 38.5 23.2 15.5 Total lease assets obtained in exchange for lease liabilities $ 57.1 $ 40.5 $ 58.6 As of December 31, 2022 and 2023, the weighted average remaining lease term and weighted average discount rate of our operating and finance leases, respectively, were as follows: December 31, 2022 December 31, 2023 Weighted average remaining lease term (in years) Operating leases 3 4 Finance leases 12 11 Weighted average discount rate Operating leases 6.3 % 6.5 % Finance leases 7.0 % 7.2 % Future lease payments under operating and finance leases as of December 31, 2023 are as follows: (In millions) Operating leases Finance leases (1) Year ending: 2024 $ 73.8 $ 78.3 2025 31.3 61.0 2026 19.2 32.1 2027 13.8 30.9 2028 6.0 31.6 Thereafter 11.8 306.7 Total future lease payments 155.9 540.6 Less amount representing interest (15.3) (176.8) Total lease liability $ 140.6 $ 363.8 (1) We excluded a $38.3 million finance lease, on an undiscounted basis, that has not yet commenced. The lease, which is for our new corporate headquarter building, will commence in 2024 and has a lease term of approximately eleven years.
Leases	Leases Assets recorded as property and equipment under finance leases, and the related accumulated depreciation balances as of December 31, 2022 and 2023 were as follows: December 31, 2022 December 31, 2023 (In millions) Computers and equipment $ 192.5 $ 159.7 Buildings 285.9 290.3 Less: Accumulated depreciation (140.0) (124.2) Net book value of property and equipment under finance leases $ 338.4 $ 325.8 The components of operating and finance lease expense for the years ended December 31, 2021, 2022 and 2023 were as follows: Year Ended December 31, (In millions) 2021 2022 2023 Operating lease expense: Fixed lease expense $ 62.2 $ 58.1 $ 63.3 Variable lease expense 18.8 17.9 21.7 Short-term lease expense 0.4 0.7 1.2 Sublease income (2.6) (2.4) (0.8) Total operating lease expense $ 78.8 $ 74.3 $ 85.4 Finance lease expense: Depreciation of finance lease assets $ 46.3 $ 51.2 $ 55.8 Interest expense on finance lease liabilities 28.2 23.5 26.6 Total finance lease expense $ 74.5 $ 74.7 $ 82.4 Supplemental operating cash flow information related to operating and finance leases for the years ended December 31, 2021, 2022 and 2023 were as follows: Year Ended December 31, (In millions) 2021 2022 2023 Cash payments for lease liabilities included within operating activities: Operating leases $ (78.4) $ (73.3) $ (80.2) Finance leases (26.9) (26.7) (29.2) Operating leases: New lease assets obtained in exchange for lease liabilities $ 18.6 $ 17.3 $ 43.1 Modified/renewed lease assets obtained in exchange for lease liabilities 38.5 23.2 15.5 Total lease assets obtained in exchange for lease liabilities $ 57.1 $ 40.5 $ 58.6 As of December 31, 2022 and 2023, the weighted average remaining lease term and weighted average discount rate of our operating and finance leases, respectively, were as follows: December 31, 2022 December 31, 2023 Weighted average remaining lease term (in years) Operating leases 3 4 Finance leases 12 11 Weighted average discount rate Operating leases 6.3 % 6.5 % Finance leases 7.0 % 7.2 % Future lease payments under operating and finance leases as of December 31, 2023 are as follows: (In millions) Operating leases Finance leases (1) Year ending: 2024 $ 73.8 $ 78.3 2025 31.3 61.0 2026 19.2 32.1 2027 13.8 30.9 2028 6.0 31.6 Thereafter 11.8 306.7 Total future lease payments 155.9 540.6 Less amount representing interest (15.3) (176.8) Total lease liability $ 140.6 $ 363.8 (1) We excluded a $38.3 million finance lease, on an undiscounted basis, that has not yet commenced. The lease, which is for our new corporate headquarter building, will commence in 2024 and has a lease term of approximately eleven years.

Financing Obligations

Financing Obligations	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Financing Obligations	Financing Obligations We have entered into installment payment arrangements with certain equipment and software vendors. In addition, we have entered into certain sale-leaseback agreements that do not qualify as asset sales and are accounted for as failed sale-leasebacks. These arrangements include the sale and leaseback of equipment with third party financial institutions and certain property leases we assumed upon the acquisition of Datapipe. The weighted average imputed interest rate for our financing obligations was 7.9% as of December 31, 2023. As of December 31, 2023, future payments under financing obligations were as follows: (In millions) Amount Year ending: 2024 $ 17.5 2025 18.6 2026 12.5 2027 3.5 2028 3.1 Thereafter 18.2 Total future payments 73.4 Plus amount representing residual asset balance 12.8 Less amount representing interest (19.8) Total financing obligations $ 66.4

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments Non-cancelable purchase commitments primarily consist of commitments for certain software licenses, hardware purchases, third party infrastructure purchases, and costs associated with our data centers, such as bandwidth and electricity. The agreements provide for either penalties for early termination or may require minimum commitments for the remaining term. The minimum commitments for all of these agreements, as of December 31, 2023, are approximated as follows: (In millions) Amount Year ending: 2024 $ 617.9 2025 409.7 2026 316.7 2027 76.2 2028 23.1 Thereafter 51.6 Total $ 1,495.2 We also have purchase orders and construction contracts primarily related to data center equipment and facility build-outs. We generally have the right to cancel these open purchase orders prior to delivery or terminate the contracts without cause. Contingencies We have contingencies that arise from various litigation, claims and commitments, none of which we consider to be material. From time to time, we are a party to various claims asserting that certain of our services and technologies infringe the intellectual property rights of others. Adverse results in these lawsuits may include awards of substantial monetary damages, costly royalty or licensing agreements, or orders preventing us from offering certain features, products, or services, and may also cause us to change our business practices and require development of non-infringing products or technologies, which could result in a loss of revenue for us or otherwise harm our business. We record an accrual for a loss contingency when a loss is considered probable and reasonably estimable. As additional facts concerning a loss contingency become known, we reassess our position and make appropriate adjustments to a recorded accrual. The amount that will ultimately be paid related to a matter may differ from the recorded accrual, and the timing of such payments, if any, may be uncertain. We are not a party to any litigation, the outcome of which, if determined adversely to us, would individually or in the aggregate be reasonably expected to have a material and adverse effect on our business, financial position or results of operations. Hosted Exchange Incident We were named in several lawsuits in connection with a previously disclosed ransomware incident which caused service disruptions on our Hosted Exchange email business. The lawsuits sought, among other things, equitable and compensatory relief. We vigorously defended these matters and do not expect any of these claims, individually or in the aggregate, to have a material adverse effect on our consolidated financial position or results of operations. We maintain insurance, including coverage for cyber-attacks, subject to certain deductibles and policy limitations, in an amount that we believe appropriate. During the years ended December 31, 2022 and 2023, we recorded $5.9 million and $5.2 million, respectively, of expenses related to the Hosted Exchange incident, including costs to investigate and remediate, legal and other professional services, and supplemental staff resources that were deployed to provide support to customers. We recorded $10.0 million of loss recovery insu rance proceeds received or expected to be received during the year ended December 31, 2023. As of December 31, 2023, $3.3 million of proceeds were recorded as a receivable and the payment was subsequently received on January 8, 2024. Indemnifications As permitted under Delaware law, we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is, or was, serving at our request in such capacity. In addition, from time to time we may enter into indemnification agreements with certain of our employees so that such employees will agree to serve as directors or officers of our foreign subsidiaries. The term of the indemnification period is for the officer’s or director’s lifetime. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited; however, we have a director and officer insurance policy that limits our exposure and enables us to recover a portion of any future amounts paid. As a result of the insurance policy coverage, we believe the estimated fair value of these indemnification agreements is minimal. We had no material liabilities recorded for these agreements as of December 31, 2022 or 2023.

July 2021 Restructuring Plan

July 2021 Restructuring Plan	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
July 2021 Restructuring Plan	July 2021 Restructuring Plan On July 21, 2021, we committed to the July 2021 Restructuring Plan to drive a change in the type and location of certain positions that was expected to result in the termination of approximately 10% of our workforce. Substantially all of the employees impacted by the reduction in workforce were notified of the reduction on July 22, 2021 and have since exited the company. During the year ended December 31, 2021 , we incurred employee related costs, which consisted of one-time termination benefits and certain contractual termination benefits with executives, and other costs, which are accounted for as exit and disposal costs under ASC 420. Other costs consisted of professional fees and non-cash charges related to a contract termination with a third-party. These costs are recorded within "Selling, general and administrative expenses" in the Consolidated Statements of Comprehensive Loss, the components of which were as follows: (In millions) Year Ended December 31, 2021 Employee related costs $ 13.8 Other 11.6 Total restructuring charges $ 25.4 A portion of the other costs are non-cash charges, representing $5.6 million in the year ended December 31, 2021. This amount is related to a contract termination with a third party. Liability activity for restructuring costs that are expected to be settled in cash are presented in the table below. (In millions) Employee Related Other Total Liability as of December 31, 2020 $ — $ — $ — Charges 13.8 6.0 19.8 Cash payments (6.7) (5.4) (12.1) Liability as of December 31, 2021 7.1 0.6 7.7 Charges — — — Cash payments (7.1) (0.6) (7.7) Liability as of December 31, 2022 $ — $ — $ — Total cumulative costs incurred as of December 31, 2022 $ 13.8 $ 6.0 $ 19.8

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Common Stock As of December 31, 2022 and 2023, we had 215.7 million and 220.5 million shares of our common stock legally issued and 212.6 million and 217.4 million common stock outstanding, respectively. We have one class of authorized common stock. The rights and privileges provided to our common stockholders are as follows: • Voting Rights —The holders of our common stock are entitled to one vote per share on all matters submitted for action by the stockholders generally. • Dividend Rights —Subject to any preferential rights of any then outstanding preferred stock, all shares of our common stock are entitled to share equally in any dividends our board of directors may declare from legally available sources. • Liquidation Rights —Upon our liquidation, dissolution or winding up, whether voluntary or involuntary, after payment in full of the amounts required to be paid to holders of any then outstanding preferred stock, all shares of our common stock are entitled to share equally in the assets available for distribution to stockholders after payment of all of our prior obligations. Preferred Stock As of December 31, 2022 and 2023, there were 5.0 million authorized shares of preferred stock, of which none was issued or outstanding. Share Repurchase Program On March 3, 2022, our board of directors authorized a program to repurchase up to $75.0 million of shares of our common stock from time to time through open-market transactions, privately negotiated transactions, accelerated share repurchases and other transactions in accordance with applicable security laws. During the year ended December 31, 2022 , we repurchased $31.0 million, or 3.1 million shares, of our common stock on the open market under this program. No shares were repurchased during the year ended December 31, 2023. Shares purchased pursuant to the program are recorded as treasury stock at cost in the Consolidated Balance Sheets . The program expired on September 30, 2023. Datapipe Contingent Shares On September 6, 2017, we entered into an Agreement and Plan of Merger (the "Datapipe Merger Agreement") pursuant to which we acquired Datapipe. In addition, the Datapipe Merger Agreement provides that we will be required to issue additional shares of our common stock to an affiliate of ABRY based on a MOIC on any “Measurement Date,” as defined in the Datapipe Merger Agreement. The maximum number of shares of common stock issuable will not exceed 10,663,741 shares in the aggregate, subject to adjustment for stock splits, stock dividends, recombinations, reclassifications and similar equitable adjustments.

Share-Based Compensation and Em

Share-Based Compensation and Employee Benefit Plans	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation and Employee Benefit Plans	Share-Based Compensation and Employee Benefit Plans Stock Plans In April 2017, the Executive Committee of the board of directors authorized the company to adopt the 2017 Incentive Plan. On July 24, 2020, the board of directors approved, effective on August 7, 2020, the 2020 Incentive Plan and amendments to the 2017 Incentive Plan which, among other things, resulted in the termination of the 2017 Incentive Plan, except as it relates to outstanding awards, and any remaining shares reserved for future grants under the 2017 Incentive Plan were released. The 2020 Incentive Plan provides for the grant of stock options, including incentive stock options, and nonqualified stock options, stock appreciation rights, restricted stock, RSUs, other stock-based incentive awards, dividend equivalents and cash-based awards (collectively, "awards"). Incentive stock options may be granted only to our employees or an employee of a parent or subsidiary. All other awards may be granted to employees and consultants of the company and its parents and subsidiaries, as well as all non-employee members of our board of directors. For the years ended December 31, 2021, 2022 and 2023, the company granted RSU's (including performance-based RSUs) and restricted stock (collectively "restricted stock") under the Incentive Plans. The company issues new shares of its common stock to satisfy vesting of restricted stock and exercise of stock options under the Incentive Plans. All awards deduct one share from the Incentive Plans shares available for issuance for each share granted. The 2017 Incentive Plan began with 12.2 million shares authorized for grant and contained an evergreen feature whereby shares available increased each grant date based on the quantity of certain types of awards granted. Upon the approval of the 2020 Incentive Plan, the 2017 Incentive Plan was terminated, except as it relates to outstanding awards. The maximum number of shares of our common stock available for issuance under the 2020 Incentive Plan was originally 25.0 million shares. In 2022, our board of directors and our stockholders voted to approve the maximum number of shares from 25.0 million shares to 50.0 million shares. On April 21, 2023 the board approved a proposed amendment to increase the maximum number of shares to 57.9 million shares, which was subsequently approved by our stockholders as part of the 2023 Annual Meeting of Stockholders held on June 16, 2023. To the exten t awards granted under the 2020 Incentive Plan terminate, expire or lapse, shares subject to such awards generally will again be available for future grant. As of December 31, 2023, the total number of shares outstanding and the total number of shares available for future grants under the Incentive Plans was 38.3 million and 14.1 million, respectively. The composition of the equity awards outstanding as of December 31, 2022 and 2023 was as follows: December 31, 2022 December 31, 2023 (In millions) Restricted stock 13.7 34.5 Stock options 9.3 3.8 Total outstanding awards 23.0 38.3 Stock Options Stock options have been granted for a term of 10 years and generally vest ratably over a three-year period, subject to continued service. Certain executives have received stock options that vest in part subject to continued service ratably over a five-year period and in part based upon the attainment of performance and market conditions. In 2021, we shifted away from granting stock options as we had in previous years, to granting restricted stock. As such, there were no stock options granted during the years ended December 31, 2021, 2022 or 2023. The following table summarizes the stock option activity for the year ended December 31, 2023: Number of Shares (in millions) Weighted Average Exercise Price Weighted Average-Remaining Contractual Life Aggregate Intrinsic Value (in millions) Outstanding at December 31, 2022 9.3 $ 12.65 3.85 $ — Granted — $ — Exercised — $ — Forfeited (1.5) $ 12.06 Expired (4.0) $ 12.51 Outstanding at December 31, 2023 3.8 $ 13.04 5.21 $ — Vested and exercisable at December 31, 2023 3.6 $ 13.07 5.18 $ — Vested and exercisable at December 31, 2023 and expected to vest thereafter (1) 3.8 $ 13.04 5.21 $ — (1) Forfeitures are recognized as they occur, rather than estimated . The total pre-tax intrinsic value of the stock options exercised during the years ended December 31, 2021 and 2022 was $35.0 million and $0.1 million, respectively. Share-based compensation expense is recognized over the awards requisite service period or over our best estimate of the period over which the performance condition will be met, as applicable. As of December 31, 2023, there was $0.2 million of total unrecognized compensation cost related to stock options, which will be recognized over a weighted average period of 1.0 year. Restricted Stock In 2021, we shifted away from granting stock options as we had in previous years, to granting restricted stock. The majority of our restricted stock grants were made as part of our annual compensation award process and vest ratably over a three-year period, subject to continued service. Restricted stock has also been granted to certain executives that vest in part subject to continued service ratably over a three Certain non-executive board members elected to receive a portion of their annual compensation in the form of restricted stock. The fair value of these service-vesting awards is measured based on the fair value of the underlying common stock on the date of grant, and share-based compensation expense is recognized on a straight-line basis over the one-year service period. In August 2021, we granted certain awards, 0.6 million shares in total, to a participant with vesting dependent upon the attainment of predetermined financial performance results over the next three years. The performance metric that will determine vesting of these awards is Non-GAAP Operating Profit (as defined in the applicable award agreement) measured over a trailing four-quarter period. The fair value of these performance-vesting awards is measured based on the fair value of the underlying common stock on the date of grant, and share-based compensation expense is recognized when it is probable that the performance condition will be achieved. Probability is based upon probable achievement of the various targets in management's internal forecasts. These awards were forfeited upon the participant's separation from the company. During 2022 and 2023, we granted 11.1 million and 28.5 million RSUs, respectively, under the 2020 Incentive Plan with a weighted average grant date fair value of $8.68 and $2.17, respectively. The majority of the RSUs were granted as part of our annual compensation award process and vest ratable over a three-year period, subject to continued service. In addition, during 2022 and 2023, 2.6 million and 2.8 million PSUs were granted, respectively, and in 2023, 5.5 million long-term incentive cash units (“LTIC units”) were granted under the 2020 Incentive Plan with a weighted-average fair value as of December 31, 2023 of $0.61. Both the PSUs and LTIC units represent the target amount of grants, and the actual number of shares or units awarded upon vesting may vary depending upon the achievement of the relevant market condition which is based on Rackspace’s Total Shareholder Return (“TSR”) relative to the TSR of a comparator group of IT and Cloud Services Companies. The awards are eligible to vest in equal annual installments over three years based on the attainment of the market condition and the employee’s continued service through the end of the applicable measurement period and were valued using a Monte Carlo simulation. As the company intends to settle the LTIC units in cash, they are classified as a liability within "Other current liabilities" and "Other non-current liabilities" in the Consolidated Balance Sheets. The following table presents the assumptions used to estimate the fair values of the PSUs granted in the periods presented: Year Ended December 31, 2022 2023 Expected stock volatility (1) 54% - 63% 69% - 72% Expected dividend yield (2) — % — % Risk-free interest rate (3) 2.32% - 4.34% 3.76% - 3.78% (1) Management estimates volatility based on the historical trading volatility of a public company peer group and the implied volatility of our assets and current leverage. (2) We have not issued dividends to date and do not anticipate issuing dividends. (3) Based on the implied yield currently available on U.S. Treasury zero-coupon issues with an equivalent expected term. The following table summarizes our restricted stock activity for the year ended December 31, 2023: Number of Units or Shares (in millions) Weighted Average Grant-Date Fair Value Outstanding at December 31, 2022 13.7 $ 9.96 Granted 31.3 $ 2.15 Released (4.6) $ 11.07 Cancelled (5.9) $ 5.09 Outstanding at December 31, 2023 34.5 $ 3.57 Expected to vest after at December 31, 2023 (1) 34.5 $ 3.57 (1) Forfeitures are recognized as they occur, rather than estimated. The weighted-average grant-date fair value of restricted stock granted during the years ended December 31, 2021 and 2022 was $17.80 and $8.70, respectively. The total pre-tax intrinsic value of the restricted stock released during the years ended December 31, 2021, 2022 and 2023 was $35.2 million, $30.7 million and $9.5 million, respectively. Share-based compensation expense is recognized over the awards requisite service period or over our best estimate of the period over which the performance condition will be met, as applicable. As of December 31, 2023, there was $74.8 million of total unrecognized compensation cost related to restricted stock, which will be recognized over a weighted average period of 1.9 years. Employee Stock Purchase Plan The ESPP was approved by the company's board of directors on July 24, 2020 and became effective on August 7, 2020. Under the ESPP, eligible employees may purchase a limited number of shares of our common stock at the lesser of 85% of the market value on the enrollment date or 85% of the market value on the purchase date. The fair value on each enrollment date is determined using the Black-Scholes option-pricing model. Share-based compensation expense is recognized on a straight-line basis over the offering period. We issued 0.7 million, 0.8 million and 0.7 million shares through the ESPP during the years ended December 31, 2021, 2022 and 2023, respectively. The share-based compensation expense recognized for the ESPP was $4.5 million, $1.9 million and $0.9 million for the years ended December 31, 2021, 2022 and 2023, respectively. As of December 31, 2023, there was no unrecognized compensation cost related to the ESP P. The shares available for issuance under the ESPP is 8.9 million shares as of December 31, 2023. Share-Based Compensation Expense In connection with the departure of certain executives during the years ended December 31, 2021, 2022, and 2023, we accelerated vesting of options and restricted stock for awards with service-only vesting conditions and extended the post termination option exercise period. These modifications resulted in incremental expense of $0.8 million during the year ended December 31, 2021 and a reduction in expense of $2.0 million and $0.6 million during the years ended December 31, 2022 and 2023, respectively . Total share-based compensation expense is comprised of the following equity and liability classified award amounts: Year Ended December 31, (In millions) 2021 2022 2023 Equity classified awards $ 75.4 $ 69.5 $ 64.6 Liability classified awards — — 0.8 Total share-based compensation expense $ 75.4 $ 69.5 $ 65.4 Share-based compensation expense recogniz ed was as follows: Year Ended December 31, (In millions) 2021 2022 2023 Cost of revenue $ 16.7 $ 11.6 $ 9.1 Selling, general and administrative expenses 58.7 57.9 56.3 Pre-tax share-based compensation expense 75.4 69.5 65.4 Less: Income tax benefit (15.8) (14.6) (13.7) Total share-based compensation expense, net of tax $ 59.6 $ 54.9 $ 51.7 Employee Benefit Plans We sponsor defined contribution plans whereby employees may elect to contribute a portion of their annual compensation to the plans, after complying with certain limitations. The plans also include a discretionary employer contribution. Contribution expense recognized for these plans was $15.2 million, $15.7 million and $16.3 million for the years ended December 31, 2021, 2022 and 2023, respectively.

Taxes

Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Taxes	Taxes The benefit for income taxes consisted of the following: Year Ended December 31, (In millions) 2021 2022 2023 Federal $ (0.3) $ 0.2 $ 0.2 Foreign 5.6 11.4 18.1 State 5.4 4.3 7.0 Total current 10.7 15.9 25.3 Deferred: Federal (26.1) (81.7) (34.3) Foreign (14.3) (6.7) (8.4) State (1.1) (20.4) 0.8 Total deferred (41.5) (108.8) (41.9) Total benefit for income taxes $ (30.8) $ (92.9) $ (16.6) Loss before income taxes from U.S. and foreign operations were as follows: Year Ended December 31, (In millions) 2021 2022 2023 U.S. $ (204.9) $ (819.6) $ (678.4) Foreign (44.2) (78.1) (176.0) Total loss before income taxes $ (249.1) $ (897.7) $ (854.4) A reconciliation of the statutory federal tax rate to the effective tax rate is as follows: Year Ended December 31, 2021 2022 2023 Statutory federal tax rate 21.0 % 21.0 % 21.0 % State taxes, net of federal benefit (0.3) % 1.6 % 0.3 % Tax rate differentials for international jurisdictions 0.4 % (1.1) % 2.5 % Research and development credit (0.4) % — % — % Effects of other enacted tax law and rate changes (0.3) % 0.1 % (3.0) % Valuation allowance (0.7) % (0.1) % (0.8) % Share-based compensation 0.1 % (0.6) % (1.1) % Nondeductible compensation (2.5) % (0.7) % (0.8) % Tax impact of goodwill impairment (4.4) % (9.9) % (15.9) % Other, net (0.5) % — % (0.3) % Effective tax rate 12.4 % 10.3 % 1.9 % Deferred Taxes Deferred income taxes reflect the net effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes using the enacted tax rates in effect for the year in which the differences are expected to be reversed. Significant components of our deferred tax assets and liabilities are as follows: (In millions) December 31, December 31, Deferred tax assets: Share-based compensation $ 15.3 $ 13.9 Accruals not currently deductible 17.4 13.3 Finance lease liabilities 64.7 90.4 Net operating loss carryforwards 56.8 31.3 Foreign tax credit 33.7 16.9 Research and development credits 29.4 30.5 Depreciation and amortization 4.2 4.0 Disallowed interest carryforward 43.8 77.4 Operating lease liabilities 35.5 28.6 Other 20.2 19.1 Total gross deferred tax assets 321.0 325.4 Valuation allowance (58.5) (66.1) Total net deferred tax assets 262.5 259.3 Deferred tax liabilities: Depreciation and amortization 294.9 265.1 Finance lease liabilities 7.2 6.6 Capitalized costs 11.7 8.7 Interest rate swaps 32.2 21.8 Operating right-of-use assets 31.8 22.7 Other 5.4 6.9 Total gross deferred tax liabilities 383.2 331.8 Net deferred tax liabilities $ 120.7 $ 72.5 As of December 31, 2023, we have $3.8 million of federal net operating loss carryforwards, all of which have an indefinite carryforward period. Additionally, we have $58.0 million of federal tax credit carryforwards expiring at various dates through 2041. We have $111.7 million of foreign net operating losses, $13.5 million of which have carryforward periods ranging from 5 to 20 years, and $98.2 million of which have an indefinite carryforward period. Certain federal and foreign net operating loss carryforwards are subject to various limitations under Section 382 of the IRC and the applicable statutory foreign tax laws. We have disallowed interest expense carryforwards in the U.S. of $312.6 million that can be carried forward indefinitely. We’ve recorded a valuation allowance with respect to certain of our deferred tax assets relating primarily to operating losses in certain U.S. state and foreign jurisdictions and federal foreign tax credits that we believe are not likely to be realized. Additionally, we’ve recorded a valuation allowance with respect to disallowed interest that we do not expect to be realizable in the future. For the rest of the deferred tax assets, valuation allowances were not deemed necessary based upon the determination that income created by reversing deferred tax liabilities will be sufficient to utilize deferred tax assets prior to the expiration of any applicable carryforward periods. Changes to valuation allowances consisted of the following: (In millions) 2021 2022 2023 Balance at January 1, $ 54.4 $ 58.3 $ 58.5 Additions charged to income tax expense 3.9 1.6 39.2 Reductions credited to income tax expense — (1.4) (31.6) Balance at December 31, $ 58.3 $ 58.5 $ 66.1 The effective tax rate for the year ended December 31, 2021 was impacted by deductions disallowed by Section 162(m) of the IRC, changes in valuation allowances, the tax impact associated with a goodwill impairment, changes to income tax reserves and other permanently nondeductible items. The effective tax rate for the year ended December 31, 2022 was primarily impacted by the tax impact associated with the goodwill impairments, the geographic distribution of profits, tax effects from share-based compensation and executive compensation that in nondeductible under IRC Section 162(m) of the IRC. The effective tax rate for the year ended December 31, 2023 was impacted by the tax impact associated with the goodwill impairments recorded in the first and third quarters of 2023, the majority of which were nondeductible for income tax purposes, executive compensation that is nondeductible under IRC Section 162(m), the net impact of the geographic distribution of our earnings, tax effects from nondeductible share-based compensation as well as changes in our valuation allowance. We do not permanently reinvest our foreign earnings due to the debt service requirements of our capital structure. Due to historic, internal tax restructurings, we have effectively recognized any tax impact of the repatriation of foreign earnings. Thus, as of December 31, 2023, there is no deferred tax liability for undistributed foreign earnings. Uncertain Tax Positions We file income tax returns in each jurisdiction in which we operate, both domestically and internationally. Due to the complexity involved with certain tax matters, we have considered all relevant facts and circumstances for the financial statement recognition, measurement, presentation and disclosure of uncertain tax positions taken or expected to be taken in income tax returns. We believe that there are no other jurisdictions in which the outcome of uncertain tax matters is likely to be material to our results of operations, financial position or cash flows. We further believe that we have made adequate provision for all income tax uncertainties. A rollforward of unrecognized tax benefits, excluding accrued penalties and interest, for the years ended December 31, 2021, 2022 and 2023 is as follows: Year Ended December 31, (In millions) 2021 2022 2023 Balance, beginning of period $ 51.0 $ 52.4 $ 57.0 Additions based on tax positions related to the current year 9.0 10.9 12.6 Additions for tax positions of prior years 15.9 0.3 0.9 Reduction for statute expiration (16.7) (4.7) (4.8) Reductions for tax positions of prior years (6.2) (1.9) (2.1) Settlements (0.6) — — Balance, end of period (1) $ 52.4 $ 57.0 $ 63.6 (1) Included within non-current liabilities in the Consolidated Balance Sheets Of the total amount of unrecognized tax benefits as of December 31, 2021, 2022 and 2023, $37.8 million, $41.6 million and $47.0 million, respectively, if recognized, would favorably impact our effective tax rate. We do not expect the amount of unrecognized tax benefits disclosed above to change significantly over the next 12 months. We recognize interest expense and penalties related to income tax matters within “Benefit for income taxes” on our Consolidated Statements of Comprehensive Loss. Accrued interest and penalties as of December 31, 2021, 2022 and 2023 were $3.5 million, $4.4 million and $6.6 million, respectively. We are subject to U.S. federal income tax and various state, local, and international income taxes in numerous jurisdictions. Our domestic and international tax liabilities are subject to the allocation of revenue and expenses in different jurisdictions and the timing of recognizing revenue and expenses. As such, our effective tax rate is impacted by the geographical distribution of income and mix of profits in the various jurisdictions. Additionally, the amount of income taxes paid is subject to our interpretation of applicable tax laws in the jurisdictions in which we file. We currently file income tax returns in the U.S. and all foreign jurisdictions in which we have entities, which are periodically under audit by federal, state, and foreign tax authorities. These audits can involve complex matters that may require an extended period of time for resolution. We remain subject to U.S. federal and state income tax examinations for the tax years 2018 through 2023 and in the foreign jurisdictions in which we operate for varying periods from 2010 through 2023. We currently have income tax examinations open in Texas for tax years 2014 through 2021 and New York City for 2017 through 2019. Additionally, we are currently under tax audit in India for the fiscal year ended March 31, 2020.

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives Prior to January 9, 2020, none of our floating-to-fixed interest rate swap agreements were designated as cash flow hedges of interest rate risk for accounting purposes, therefore, all changes in the fair value of the interest rate swap agreements were recorded to "Interest expense" in the Consolidated Statements of Comprehensive Loss. On January 9, 2020, we designated certain of our swaps as cash flow hedges. On the designation date, the cash flow hedges were in a $39.9 million liability position. The cash flow hedges were expected to be highly effective on the designation date and, on a quarterly basis, we performed retrospective and prospective regression assessments to determine whether the cash flow hedges continue to be highly effective. As long as the cash flow hedges are highly effective, changes in fair value are recorded to "Accumulated other comprehensive income" in the Consolidated Balance Sheets and reclassified to "Interest expense" in the period when the underlying transaction affects earnings. The income tax effects of cash flow hedges are released from "Accumulated other comprehensive income" in the period when the underlying transaction affects earnings. Any stranded income tax effects are released from "Accumulated other comprehensive income" into "Benefit for income taxes" under the portfolio approach. During the year ended December 31, 2021, we completed a series of transactions to modify our interest rate swap positions as follows: (i) All the interest rate swaps outstanding as of December 31, 2020, with the exception of the agreement that matured on February 3, 2021, were de-designated as cash flow hedges on January 31, 2021, (ii) on February 12, 2021, we entered into a $900.0 million receive-fixed interest rate swap which was designed to offset the terms of two December 2016 swaps, and (iii) on February 12, 2021, we terminated all December 2018 swaps and entered into a $1.35 billion pay-fixed interest rate swap, effectively blending the liability position of our existing interest rate swap agreements into the new swap and extending the term of our hedged position to February 2026. The amount remaining in “Accumulated other comprehensive income" for the de-designated December 2016 and December 2018 swaps at the de-designation date was app roximately $51.6 million, and is being amortized as an increase to "Interest expense" over the effective period of the original swap agreements. The new receive-fixed interest rate swap qualifies as a hybrid instrument in accordance with ASC No. 815, Derivatives and Hedging , consisting of a loan and an embedded derivative for which the fair value option has been elected. This $900.0 million swap remained undesignated to economically offset the undesignated December 2016 swaps. This new swap and the December 2016 swaps matured on February 3, 2022. Cash settlements related to this receive-fixed interest rate swap offset and are classified as operating activities in the Consolidated Statements of Cash Flows. The new pay-fixed interest rate swap also qualifies as a hybrid instrument in accordance with ASC No. 815, Derivatives and Hedging , consisting of a loan and an embedded at-market derivative that was designated as a cash flow hedge. The loan is accounted for at amortized cost over the life of the swap while the embedded at-market derivative is accounted for at fair value. The $1.35 billion swap was originally indexed to three-month LIBOR and net settled on a quarterly basis with the counterparty for the difference between the fixed rate of 2.3820% and the variable rate based upon three-month LIBOR (subject to a floor of 0.75%) as applied to the notional amount of the swap. In connection with the transactions discussed above, no cash was exchanged between us and the counterparty. The liability of the terminated interest rate swaps as well as the inception value of the receive-fixed interest rate swap was blended into the new pay-fixed interest rate swap. The cash flows related to the portion treated as debt is classified as financing activities in the Consolidated Statements of Cash Flows while the portion treated as an at-market derivative is classified as operating activities. As discussed in Note 7, “Debt”, on April 26, 2023 we executed an amendment to our First Lien Credit Agreement, which governs borrowings under our Term Loan Facility. This amendment established Term SOFR as the benchmark rate for determining the applicable interest rate, replacing LIBOR. To continue to manage our exposure to interest rate risk associated with our Term Loan Facility, effective May 9, 2023, we amended our remaining swap agreement to change the index from three-month LIBOR (subject to a floor of 0.75%) to one-month Term SOFR (subject to a floor of 0.75%). The fixed rate also changed from 2.3820% to 2.34150% as a result of the swap agreement amendment. As described in Note 1, “Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies” we elected to apply certain practical expedients under GAAP to allow for this transition without any interruptions to hedge accounting treatment. On a monthly basis, we net settle with the counterparty for the difference between the fixed rate of 2.34150% and the variable rate based upon the one-month Term SOFR (subject to a floor of 0.75%) as applied to the notional amount of the swap. As of December 31, 2022 and 2023 , the cash flow hedge was highly effective. The key terms of interest rate swaps are presented below: Effective Date Fixed Rate Paid (Received) December 31, 2022 December 31, 2023 Notional Amount (in millions) Status Notional Amount (in millions) Status Maturity Date Entered into December 2016: February 3, 2017 1.9040% $ — Matured $ — Matured February 3, 2022 February 3, 2017 1.9040% — Matured — Matured February 3, 2022 Entered into December 2018: February 3, 2019 2.7490% — Terminated — Matured November 3, 2023 February 3, 2020 2.7350% — Terminated — Matured November 3, 2023 February 3, 2021 2.7360% — Terminated — Matured November 3, 2023 February 3, 2022 2.7800% — Terminated — Matured November 3, 2023 Entered into February 2021: February 3, 2021 (1.9040)% — Matured — Matured February 3, 2022 February 9, 2021 2.34150% (1) 1,350.0 Active 1,350.0 Active February 9, 2026 Total $ 1,350.0 $ 1,350.0 (1) Fixed rate paid prior to the May 9, 2023 amendment was 2.3820%. Fair Values of Derivatives on the Consolidated Balance Sheets The fair values of our derivatives and their location on the Consolidated Balance Sheets as of December 31, 2022 and 2023 were as follows: December 31, 2022 December 31, 2023 (In millions) Assets Liabilities Assets Liabilities Derivatives designated as hedging instruments Location Interest rate swaps Other current assets $ 44.3 $ — $ 47.0 $ — Interest rate swaps Other non-current assets 80.5 — 36.8 — Interest rate swaps Other current liabilities (1) — 17.3 — 17.3 Interest rate swaps Other non-current liabilities (1) — 39.1 — 20.3 Total $ 124.8 $ 56.4 $ 83.8 $ 37.6 (1) The entire balance is comprised of the financing component of the pay-fixed interest rate swap. For financial statement presentation purposes, we do not offset assets and liabilities under master netting arrangements and all amounts above are presented on a gross basis. The following table, however, is presented on a net asset and net liability basis: December 31, 2022 December 31, 2023 (In millions) Gross Amounts on Balance Sheet Effects of Counterparty Netting Net Amounts Gross Amounts on Balance Sheet Effects of Counterparty Netting Net Amounts Assets Interest rate swaps $ 124.8 $ (56.4) $ 68.4 $ 83.8 $ (37.6) $ 46.2 Liabilities Interest rate swaps $ 56.4 $ (56.4) $ — $ 37.6 $ (37.6) $ — Effect of Derivatives on the Consolidated Statements of Comprehensive Loss The effect of our derivatives and their location on the Consolidated Statements of Comprehensive Loss for the years ended December 31, 2021, 2022 and 2023 was as follows: Year Ended December 31, (In millions) 2021 2022 2023 Derivatives not designated as hedging instruments Location Interest rate swaps Interest income (expense) $ (19.1) $ (18.5) $ (15.5) Foreign currency contracts (1) Other income (expense), net $ 2.1 $ — $ — Derivatives designated as hedging instruments Location Interest rate swaps Interest income (expense) $ (6.2) $ 11.9 $ 55.5 (1) Relates to two foreign currency forward contracts settled on November 30, 2021. As of December 31, 2022 and 2023, we do not have any outstanding foreign currency hedging contracts. Interest expense was $205.1 million, $208.5 million and $221.6 million for the years ended December 31, 2021, 2022 and 2023, respectively. As of December 31, 2023, the amount of cash flow hedge gain included within "Accumulated other comprehensive income" that is expected to be reclassified as a reduction to "Interest expense" over the next 12 months is approximately $49.3 million. See Note 16, "Accumulated Other Comprehensive Income (Loss)," for information regarding changes in fair value of our derivatives designated as hedging instruments. Credit-risk-related Contingent Features

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) consisted of the following: (In millions) Accumulated Foreign Currency Translation Adjustments Accumulated Gain (Loss) on Derivative Contracts Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2020 $ 20.8 $ (39.4) $ (18.6) Foreign currency translation adjustments, net of tax benefit of $0.6 million (3.6) — (3.6) Unrealized gain on derivative contracts, net of expense of $3.9 million — 11.5 11.5 Amount reclassified from Accumulated comprehensive income (loss) into earnings, net of tax benefit of $6.0 million (1) — 17.6 17.6 Balance at December 31, 2021 $ 17.2 $ (10.3) $ 6.9 Foreign currency translation adjustments, net of tax benefit of $2.3 million (27.2) — (27.2) Unrealized gain on derivative contracts, net of tax expense of $30.0 million — 86.9 86.9 Amount reclassified from Accumulated comprehensive income (loss) into earnings, net of tax benefit of $1.6 million (2) — 4.8 4.8 Balance at December 31, 2022 $ (10.0) $ 81.4 $ 71.4 Foreign currency translation adjustments, net of tax expense of $1.0 million 8.0 — 8.0 Unrealized gain on derivative contracts, net of tax expense of $3.8 million — 10.8 10.8 Amount reclassified from Accumulated comprehensive income (loss) into earnings, net of tax expense of $10.3 million (3) — (29.9) (29.9) Balance at December 31, 2023 $ (2.0) $ 62.3 $ 60.3 (1) Includes interest expense recognized of $6.4 million and amortization of off-market swap value and accumulated loss at hedge de-designation of $17.1 million for the year ended December 31, 2021. (2) Includes amortization of off-market swap value and accumulated loss at hedge de-designation of $18.5 million for the year ended December 31, 2022, partially offset by a reduction to interest expense recognized of $12.1 million. (3) Includes a reduction to interest expense recognized of $55.6 million related to the cash flow hedge gain for the year ended December 31, 2023, partially offset by an increase to interest expense for the amortization of off-market swap value and accumulated loss at hedge de-designation of $15.5 million.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Apollo Global Securities, an affiliate of Apollo, received $0.6 million in connection with their role as an initial purchaser of the 3.50% Senior Secured Notes issued on February 9, 2021, and $2.3 million in arranger fees in connection with the entry into the Term Loan Facility on February 9, 2021. On February 2, 2021, we issued 2,665,935 shares of common stock to DPH 123, LLC, an ABRY affiliate, for no additional consideration pursuant to the Agreement and Plan of Merger, dated as of September 6, 2017, in connection with our November 15, 2017 acquisition of Datapipe.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting Effective on January 1, 2023, we reorganized around a two-business unit operating model, Public Cloud and Private Cloud. This two-business unit operating model ensures increased focus, delivery, and service quality for our customers. We have changed our segment reporting to reflect this reorganization under two operating segments, which correspond directly to our reportable segments: Public Cloud, a services-centric, capital-light model providing value-added cloud solutions through managed services, Elastic Engineering and professional services offerings for customer environments hosted on the AWS, Microsoft Azure and Google Cloud public cloud platforms; and Private Cloud, a technology-forward, capital-intensive model providing managed service offerings for customer environments hosted in one of our data centers as well as in those owned by customers or by third parties such as colocation providers. Private Cloud also includes our legacy OpenStack Public Cloud business that we ceased to actively market to customers in 2017. Our prior Multicloud Services segment has been separated into its public and private cloud components and the offerings previously reported in our Apps & Cross Platform segment have been reassigned to either the Public Cloud or Private Cloud segment based on the nature of the offering. Our segments are based upon a number of factors, including, the basis for our budgets and forecasts, organizational and management structure and the financial information regularly used by our Chief Operating Decision Maker to make key decisions and to assess performance. We assess financial performance of our segments on the basis of revenue and segment operating profit. Segment operating profit includes expenses directly attributable to running the respective segments' business. This excludes any corporate overhead expenses. We have centralized corporate functions that provide services to the segments in areas such as accounting, information technology, marketing, legal and human resources. Corporate function costs that are not allocated to the segments are included in the row labeled "Corporate functions" in the table below. The table below presents a reconciliation of revenue by reportable segment to consolidated revenue and a reconciliation of consolidated segment operating profit to consolidated loss before income taxes for the years ended December 31, 2021, 2022 and 2023. Year Ended December 31, (In millions) 2021 2022 2023 Revenue by segment: Public Cloud $ 1,471.3 $ 1,740.8 $ 1,747.4 Private Cloud 1,538.2 1,381.5 1,209.7 Total consolidated revenue $ 3,009.5 $ 3,122.3 $ 2,957.1 Segment operating profit: Public Cloud $ 120.1 $ 124.9 $ 90.4 Private Cloud 604.3 493.9 340.8 Total consolidated segment operating profit 724.4 618.8 431.2 Corporate functions (240.3) (255.0) (247.8) Share-based compensation expense (75.4) (69.5) (65.4) Special bonuses and other compensation expense (1) (11.8) (10.0) (12.1) Transaction related adjustments, net (2) (25.7) (11.0) (5.2) Restructuring and transformation expenses (3) (161.5) (99.0) (70.8) Hosted Exchange incident expenses, net of proceeds received or expected to be received under our insurance coverage — (5.9) 4.8 Amortization of intangible assets (4) (179.7) (166.8) (161.0) Impairment of goodwill (52.4) (534.5) (708.8) UK office closure (5) — — (12.1) Impairment of assets, net — (146.1) (52.2) Gain on sale of land 19.9 — — Interest expense (205.1) (208.5) (221.6) Gain (loss) on investments, net (3.0) (0.2) 0.3 Debt modification costs and gain (loss) on debt extinguishment (37.5) — 271.3 Other expense, net (1.0) (10.0) (5.0) Total consolidated loss before income taxes $ (249.1) $ (897.7) $ (854.4) (1) Includes expense related to retention bonuses, mainly relating to restructuring and integration projects, and the related payroll tax, senior executive signing bonuses and relocation costs, and payroll taxes associated with the exercise of stock options and vesting of restricted stock. Beginning in the second quarter of 2023, includes expense related to the one-time grant of long-term incentive bonuses as a component of our annual compensation award process. (2) Includes legal, professional, accounting and other advisory fees related to acquisitions, certain one-time compliance costs related to being a public company, integration costs of acquired businesses, purchase accounting adjustments, payroll costs for employees that dedicate significant time to supporting these projects and exploratory acquisition and divestiture costs and expenses related to financing activities. (3) Includes consulting and advisory fees related to business transformation and optimization activities, payroll costs for employees that dedicate significant time to these projects, as well as associated severance, certain facility closure costs, and lease termination expenses. This amount also includes employee related costs and other costs related to the July 2021 Restructuring Plan of $25.4 million for the year ended December 31, 2021, which are accounted for as exit and disposal costs under ASC 420. In addition, it includes total charges of $25.1 million and $5.2 million for the years ended December 31, 2021 and 2022, respectively, related to the July 2021 Restructuring Plan which are not accounted for as exit and disposal costs under ASC 420, including one-time offshore build out costs. (4) All of our intangible assets are attributable to acquisitions, including the Rackspace Acquisition in 2016. (5) Expense recognized related to the closure of a UK office that we exited in the second quarter of 2023 prior to the lease end date. The table below presents depreciation expense included in segment operating profit above for the years ended December 31, 2021, 2022 and 2023. Year Ended December 31, (In millions) 2021 2022 2023 Public Cloud $ 8.4 $ 8.2 $ 9.2 Private Cloud 189.9 170.2 171.3 Corporate functions 46.8 42.5 28.2 Total depreciation expense $ 245.1 $ 220.9 $ 208.7 Management does not use total assets by segment to evaluate segment performance or allocate resources. As such, total assets by segment are not disclosed. Geographic Information The tables below present revenue by geographic region and by country for the years ended December 31, 2021, 2022 and 2023. Revenue amounts are based upon the location of the support function servicing the cus tomer. Year Ended December 31, (In millions) 2021 2022 2023 Americas $ 2,253.4 $ 2,341.7 $ 2,181.4 EMEA 632.9 626.6 620.0 APJ 123.2 154.0 155.7 Total revenue $ 3,009.5 $ 3,122.3 $ 2,957.1 Year Ended December 31, (In millions) 2021 2022 2023 United States $ 2,157.0 $ 2,209.2 $ 2,035.6 United Kingdom 542.3 521.6 484.5 Other foreign countries (1) 310.2 391.5 437.0 Total revenue $ 3,009.5 $ 3,122.3 $ 2,957.1 (1) No other foreign country had revenue that exceeded 10% of total consolidated revenue for the years ended December 31, 2021, 2022 and 2023. The table below presents property, equipment and software, net by country, based on the physical location of the assets, as of December 31, 2022 and 2023: (In millions) December 31, December 31, United States $ 487.9 $ 478.4 United Kingdom 116.7 109.0 Other foreign countries (1) 23.7 21.4 Total property, equipment and software, net $ 628.3 $ 608.8 (1) No other foreign country had property, equipment and software, net that exceeded 10% of total consolidated property, equipment and software, net as of December 31, 2022 and 2023.

Condensed Financial Information

Condensed Financial Information of Registrant (Parent Company Only)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Financial Information of Registrant (Parent Company Only)	Condensed Financial Information of Registrant (Parent Company Only) RACKSPACE TECHNOLOGY, INC. (Parent Company Only) CONDENSED BALANCE SHEETS (In millions, except per share data) December 31, December 31, ASSETS Investment in subsidiaries of Parent $ 629.5 $ (154.5) Total assets $ 629.5 $ (154.5) LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Stockholders' equity (deficit): Preferred stock, $0.01 par value per share: 5.0 shares authorized; no shares issued or outstanding — — Common stock, $0.01 par value per share: 1,495.0 shares authorized; 215.7 and 220.5 shares issued; 212.6 and 217.4 shares outstanding, respectively 2.2 2.2 Additional paid-in capital 2,573.3 2,638.2 Accumulated other comprehensive income 71.4 60.3 Accumulated deficit (1,986.4) (2,824.2) Treasury stock, at cost; 3.1 shares held (31.0) (31.0) Total stockholders' equity (deficit) 629.5 (154.5) Total liabilities and stockholders' equity (deficit) $ 629.5 $ (154.5) The accompanying note is an integral part of these condensed financial statements. RACKSPACE TECHNOLOGY, INC. (Parent Company Only) CONDENSED STATEMENTS OF COMPREHENSIVE LOSS Year Ended December 31, (In millions, except per share data) 2021 2022 2023 Equity in net losses in Parent's subsidiaries $ (218.3) $ (804.8) $ (837.8) Net loss and total comprehensive loss $ (218.3) $ (804.8) $ (837.8) Net loss per share Basic and diluted $ (1.05) $ (3.81) $ (3.89) Weighted average number of shares outstanding: Basic and diluted 208.0 211.2 215.3 The accompanying note is an integral part of these condensed financial statements. A condensed statement of cash flows has not been presented as Rackspace Technology did not have any cash as of, or at any point in time during, the years ended December 31, 2021, 2022 and 2023. NOTE TO CONDENSED FINANCIAL STATEMENTS OF REGISTRANT (Parent Company Only) Basis of Presentation These condensed parent company-only financial statements have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of the subsidiaries of Rackspace Technology, Inc. (“Parent”) (as defined in Rule 4-08(e)(3) of Regulation S-X) exceed 25% of the consolidated net assets of the Parent. The ability of Parent’s operating subsidiaries to pay dividends may be restricted due to the terms of the subsidiaries’ First Lien Credit Agreement and the Indentures, as described in Note 7, “Debt” to the audited consolidated financial statements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net loss	$ (837.8)	$ (804.8)	$ (218.3)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Company Overview, Basis of Pr_2

Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Principles of Consolidation	The accompanying consolidated financial statements include the accounts of Rackspace Technology and our wholly-owned subsidiaries. Intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expenses, and related disclosures of contingent assets and liabilities in the consolidated financial statements and accompanying notes. On an ongoing basis, we evaluate our estimates, including those related to the allowance for credit losses, useful lives of property, equipment and software, software capitalization, incremental borrowing rates for lease liability measurement, fair values of intangible assets and reporting units, useful lives of intangible assets, share-based compensation, contingencies, and income taxes, among others. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from our estimates.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents, and Restricted Cash Our cash is comprised of bank deposits, overnight sweep accounts and money market funds and is held with high-credit quality U.S. and foreign financial institutions. We consider all highly liquid investments, such as money market funds, with original maturities of three months or less when acquired to be cash equivalents.
Property, Equipment and Software	Property, equipment and software is stated at cost, net of accumulated depreciation and amortization. Included in property, equipment and software are capitalized costs related to computer software developed or acquired for internal use. Capitalized computer software costs consist of purchased software licenses, implementation costs, and salaries and related compensation costs of employees and consultants for certain projects that qualify for capitalization. For cloud computing arrangements that include a software license, the software license element of the arrangement is accounted for in a manner consistent with the acquisition of other software licenses. For cloud computing arrangements that do not include a software license, the arrangement is accounted for as a service contract and is expensed as the services are provided. Replacements and major improvements to property, equipment and software are capitalized, while maintenance and repairs are charged to expense as incurred. We also capitalize interest costs incurred during the acquisition, development and construction of certain assets until the asset is ready for its intended use. We capitalized interest of $0.6 million, $0.4 million and $0.8 million for the years ended December 31, 2021, 2022 and 2023, respectively. Property, equipment and software is depreciated on a straight-line basis over the estimated useful life of the asset. Leasehold improvements are depreciated over the shorter of their estimated useful lives or the remaining lease term. Depreciation expense is recorded within "Cost of revenue" and "Selling, general and administrative expenses" on our Consolidated Statements of Comprehensive Loss. The following table shows the estimated useful lives used for property, equipment and software: Classification Estimated Useful Lives Computers and equipment 3 to 5 years Software 3 years Furniture and fixtures 7 years Buildings and leasehold improvements 2 to 39 years Assets classified as held for sale are recorded at the lower of carrying value or its estimated fair value, less costs to sell, and no depreciation and amortization is recorded after the held for sale classification is met. As of December 31, 2022, our corporate headquarters property was classified as held for sale. See Note 5, "Property, Equipment and Software, net" and Note 6, "Goodwill and Intangible Assets" for more information. The cost of assets and related accumulated depreciation and amortization are written off upon retirement or disposal and any resulting gain or loss is credited or charged to income or expense.
Definite-Lived Intangible Assets	Definite-lived intangible assets are primarily comprised of customer relationships and are stated at their acquisition date fair value less accumulated amortization. Definite-lived intangible assets are amortized using the straight-line method over their estimated useful lives as this method best approximates the economic benefit derived from such assets. Amortization expense is recorded within "Selling, general and administrative expenses" on our Consolidated Statements of Comprehensive Loss.
Long-Lived Assets	Long-lived assets, including operating and finance lease assets (see "Leases" below for more information) are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets is measured at the asset group level. If the carrying amount of an asset group exceeds its estimated undiscounted future cash flows, then an impairment charge is recognized in the amount that an asset group’s carrying amount exceeds its fair value.
Goodwill and Indefinite-Lived Intangible Assets	Goodwill and Indefinite-Lived Intangible Assets Goodwill represents the excess of the purchase price over the fair value of identifiable net assets of businesses acquired. Our indefinite-lived intangible asset consists of our Rackspace trade name, which was recorded at fair value on our balance sheet at the date of the Rackspace Acquisition. Goodwill and indefinite-lived intangible assets are not amortized but are subject to impairment testing on an annual basis as of October 1st or more frequently if events or circumstances indicate a potential impairment. These events or circumstances could include a significant change in the business climate, regulatory environment, established business plans, operating performance indicators or competition. Potential impairment indicators may also include, but are not limited to, (i) significant changes to estimates and assumptions used in the most recent annual or interim impairment testing, (ii) downward revisions to internal forecasts, and the magnitude thereof, (iii) declines in our market capitalization below our book value, and the magnitude and duration of those declines, (iv) a reorganization resulting in a change to our operating segments, and (v) other macroeconomic factors, such as increases in interest rates that may affect the weighted average cost of capital, volatility in the equity and debt markets, or fluctuations in foreign currency exchange rates that may negatively impact our reported results of operations. On January 1, 2023, as a result of the reorganization of our business around a two-business unit operating model, we changed our operating and reportable segments to Private Cloud and Public Cloud. Our prior Multicloud Services segment has been separated into its public and private cloud components and the offerings previously reported in our Apps & Cross Platform segment have been reassigned to either the Public Cloud or Private Cloud segment based on the nature of the offering. Our prior OpenStack Public Cloud segment is included in Private Cloud. As a result of the segment change, we allocated the goodwill of our former Multicloud Services and Apps & Cross Platform reporting units to the Public Cloud and Private Cloud reporting units based on their relative fair value. OpenStack Public Cloud remains a separate reporting unit for goodwill purposes. Due to the change in our segment reporting and the allocation of goodwill, we completed a quantitative goodwill impairment analysis both prior and subsequent to the aforementioned change. The results of the quantitative goodwill impairment analysis performed as of December 31, 2022, prior to the change, indicated an impairment within our former Apps & Cross Platform reporting unit, and we recorded a non-cash impairment charge of $129.3 million in the fourth quarter of 2022, as further discussed below. We reassigned goodwill to the updated reporting units using a relative fair value approach. The results of the quantitative goodwill impairment analysis performed as of January 1, 2023, subsequent to the reorganization, indicated an impairment within our Private Cloud reporting unit, and we recorded a non-cash impairment charge of $270.8 million in the first quarter of 2023. During the first quarter of 2023, we experienced a sustained decline in our stock price resulting in our market capitalization being less than the carrying value of our combined reporting units. As of March 31, 2023, we assessed several events and circumstances that could affect the significant inputs used to determine the fair value of our reporting units, including the significance of the amount, if any, of excess carrying value over fair value, consistency of operating margins and cash flows, budgeted-to-actual performance for the first three months of the year, overall change in economic climate, changes in the industry and competitive environment, and earnings quality and sustainability. After considering all available evidence in our evaluation of goodwill impairment indicators, we determined it appropriate to perform an interim quantitative assessment of our reporting units as of March 31, 2023. During the third quarter of 2023, we experienced a sustained decline in our stock price resulting in our market capitalization being less than the carrying value of our combined reporting units. As of September 30, 2023, we assessed several events and circumstances that could affect the significant inputs used to determine the fair value of our reporting units, including the significance of the amount, if any, of excess carrying value over fair value, consistency of operating margins and cash flows, budgeted-to-actual performance for the first nine months of the year, overall change in economic climate, changes in the industry and competitive environment, and earnings quality and sustainability. After considering all available evidence in our evaluation of goodwill impairment indicators, we determined it appropriate to perform an interim quantitative assessment of our reporting units as of September 30, 2023. Prior to October 1, 2023, we had two reporting units with goodwill: Public Cloud and Private Cloud. Goodwill allocated to our third reporting unit, OpenStack Public Cloud, was fully impaired during the fourth quarter of 2021. As of October 1, 2023, we reassessed our reporting unit structure and aggregated the OpenStack Public Cloud reporting unit into our Private Cloud reporting unit. We currently have two reporting units: Public Cloud and Private Cloud. Due to the change in our reporting units as of October 1, 2023, we completed a quantitative goodwill impairment analysis. Goodwill is tested for impairment at the reporting unit level. A reporting unit is an operating segment or one level below an operating segment (referred to as a component). We allocate goodwill to reporting units based on the reporting unit expected to benefit from the business combination. Assets and liabilities are assigned to each of our reporting units if they are employed by a reporting unit and are considered in the determination of the reporting unit fair value. Certain assets and liabilities are shared by multiple reporting units, and thus, are allocated to each reporting unit based on the relative size of a reporting unit, primarily based on revenue. For the goodwill impairment tests completed during the years ended December 31, 2021, 2022 and 2023, including the interim quantitative analyses, we compared the fair values of each of our reporting units to their respective carrying amounts. The fair values of each of our reporting units were derived using the income approach, specifically the discounted cash flow method. The discounted cash flow models reflect our assumptions and considerations regarding revenue growth rates, projected gross profit margins, projected operating costs, projected capital expenditures, risk-adjusted discount rates, terminal period growth rates, and economic market trends . As part of the goodwill impairment test, we also consider our market capitalization in assessing the reasonableness of the combined fair values estimated for our reporting units, including OpenStack Public Cloud. Goodwill impairment is measured as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the carrying amount of goodwill for that reporting unit. The results of our quantitative goodwill impairment analyses as of January 1, 2023 and March 31, 2023 indicated an impairment of goodwill within our Private Cloud reporting unit, and we recorded non-cash impairment charges of $270.8 million and $272.3 million, respectively, within "Impairment of goodwill" in our Consolidated Statements of Comprehensive Loss in the first quarter of 2023. The results of our quantitative goodwill impairment analysis as of September 30, 2023 indicated an impairment of goodwill within our Private Cloud reporting unit, and we recorded non-cash impairment charges of $165.7 million, within "Impairment of goodwill" in our Consolidated Statements of Comprehensive Loss in the third quarter of 2023. The results of our quantitative goodwill impairment analysis as of October 1, 2023 indicated no impairment of goodwill During the third quarter of 2022, we experienced a sustained decline in our stock price resulting in our market capitalization being less than the carrying value of our combined reporting units. As of September 1, 2022, we assessed several events and circumstances that could affect the significant inputs used to determine the fair value of our reporting units, including the significance of the amount of excess carrying value over fair value, consistency of operating margins and cash flows, budgeted-to-actual performance from prior year, overall change in economic climate, changes in the industry and competitive environment, and earnings quality and sustainability. In addition, as of September 1, 2022, we lowered our projected operating results primarily due to product mix shifts and market concerns related to inflation and other macroeconomic factors. As such, as of September 1, 2022, we determined it appropriate to perform an interim quantitative assessment of our reporting units, which indicated an impairment of goodwill within the former Multicloud Services reporting unit, and we recorded a non-cash impairment charge of $405.2 million within "Impairment of goodwill" in our Consolidated Statements of Comprehensive Loss in the third quarter of 2022. The results of our annual goodwill impairment test as of October 1, 2022 did not indicate any impairments of goodwill During the fourth quarter of 2022, subsequent to our annual goodwill impairment analysis, we experienced a decline in our market capitalization following a ransomware incident in early December which caused service disruptions on our Hosted Exchange email business which was included in the former Apps & Cross Platform reporting unit. After considering all available evidence in our evaluation of goodwill impairment indicators, including our lowered projected operating results within this reporting unit, we determined it appropriate to perform an interim quantitative assessment of our reporting units as of December 31, 2022, which indicated an impairment of goodwill within our former Apps & Cross Platform reporting unit, and we recorded a non-cash impairment charge of $129.3 million within "Impairment of goodwill" in our Consolidated Statements of Comprehensive Loss in the fourth quarter of 2022. The results of our annual goodwill impairment test for the year ended December 31, 2021 indicated a full impairment of goodwill within our OpenStack Public Cloud reporting unit, and we recorded a non-cash impairment charge of $52.4 million within "Impairment of goodwill" in our Consolidated Statements of Comprehensive Loss. See Note 6, "Goodwill and Intangible Assets" for more information. Our indefinite-lived intangible asset is tested for impairment at the consolidated level. In evaluating the recoverability of the Rackspace trade name, we compare the fair value of the asset to its carrying amount to determine potential impairment. Our estimate of the fair value of the Rackspace trade name is derived using the income approach, specifically the relief-from-royalty method. We performed a quantitative assessment of our indefinite-lived intangible asset prior to testing our goodwill for impairment as of January 1, 2023, March 31, 2023, and December 31, 2023 which did not indicate any impairment of the Rackspace trade name. Due to the factors discussed in the goodwill analyses above and prior to testing our goodwill for impairment, we performed a quantitative assessment of our indefinite-lived intangible asset as of September 1, 2022, December 31, 2022 and September 30, 2023. The quantitative assessment performed as of those dates indicated the estimated fair value of the Rackspace trade name was less than its carrying value. As a result, we recorded a $21.0 million, $12.0 million, and $57.0 million non-cash impairment charge as of September 1, 2022, December 31, 2022 and September 30, 2023, respectively. These charges are included in "Impairment of assets, net" in our Consolidated Statements of Comprehensive Loss in the third quarter of 2022, fourth quarter of 2022, and third quarter of 2023, respectively. The results of our annual indefinite-lived asset impairment test as of October 1, 2022 did not indicate any impairment of the Rackspace trade name. The results of our indefinite-lived asset impairment test for the year ended December 31, 2021 did not indicate any impairments of the Rackspace trade name. The fair value determination of our reporting units and our indefinite-lived intangible asset is judgmental in nature and requires the use of significant estimates and assumptions that are sensitive to changes. Assumptions include estimation of the royalty rate for the trade name, estimation of future revenue and projected margins, which are dependent on internal cash flow forecasts, estimation of the terminal growth rates and capital spending, and determination of discount rates. As a result, there can be no assurance that the estimates and assumptions made for purposes of the quantitative goodwill and indefinite-lived intangible impairment tests will prove to be an accurate prediction of future results. Examples of events or circumstances that could reasonably be expected to negatively affect the underlying key assumptions and ultimately impact the estimated fair value of our reporting units may include such items as: (i) volatility in the equity and debt markets or other macroeconomic factors, (ii) an increase in the weighted-average cost of capital due to further increases in interest rates, (iii) decrease in future cash flows due to lower than expected sales, or (iv) fluctuations in foreign currency exchange rates that may negatively impact our reported results of operations. Accordingly, if our current cash flow assumptions are not realized, we experience further sustained declines in our stock price or market capitalization, or increases in costs of capital, it is possible that an additional impairment charge may be recorded in the future, which could be material.
Business Combinations	Business Combinations Mergers and acquisitions are accounted for using the acquisition method, in accordance with accounting guidance for business combinations. Under the acquisition method, we allocate the fair value of purchase consideration to the tangible and intangible assets ("identifiable assets") acquired and liabilities assumed based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of the identifiable assets and liabilities is recorded as goodwill. When determining the fair values of identifiable assets acquired and liabilities assumed, including contingent consideration when applicable, we make significant estimates and assumptions based on historical data, estimated discounted future cash flows, expected royalty rates for trade names, as well as certain other information. During the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the fair value of identifiable assets acquired and liabilities assumed, with the corresponding offset to goodwill.
Investments	Investments We have equity investments in entities in which we do not exercise significant influence. Investments in equity securities with readily determinable fair values are measured at fair value with changes in fair value recognized in net loss. Investments in equity securities that do not have readily determinable fair values are measured at cost less any impairments, adjusted for observable pricing changes in orderly transactions for identical or similar investments of the same issuer. We perform a qualitative assessment on these investments at each reporting period to determine whether any indicators of impairment exist. If an impairment exists, we recognize an impairment charge equal to the amount by which the carrying value exceeds the fair value of the investment.
Leases, Lessee	Leases We determine if an arrangement is or contains a lease at inception. This determination depends on whether the arrangement conveys to us the right to control the use of an explicitly or implicitly identified asset for a period of time in exchange for consideration. Control of an underlying asset is conveyed to us if we obtain the rights to direct the use of and to obtain substantially all of the economic benefits from using the underlying asset. We classify leases with contractual terms greater than 12 months as either operating or finance. Finance leases are generally those leases that allow us to substantially utilize an asset over its estimated life. Our finance leases primarily consist of equipment and certain data center facilities. All other leases are categorized as operating leases, which primarily consist of certain data centers and office space. Our leases generally have terms ranging from 1 to 20 years for data centers, 3 to 5 years for equipment and 1 to 10 years for office space. Lease liabilities are recognized based on the present value of lease payments, reduced by lease incentives, at the lease commencement date. For finance leases, we use the rate implicit in the lease to determine the present value of lease payments where available. For operating leases, we use an incremental borrowing rate to determine the present value of lease payments as the interest rate implicit in most of our operating leases is not readily determinable. Our incremental borrowing rate is the rate of interest that we would have to pay to borrow an amount equal to the lease payments, on a collateralized basis and in a similar economic environment over a similar term. The rate is dependent on several factors, including the lease term, currency of the lease payments and the company’s credit rating. Operating and finance lease liabilities are recorded in our Consolidated Balance Sheets as current and non-current liabilities. Lease assets are recognized based on the related lease liabilities, plus any prepaid lease payments and initial direct costs from executing the leasing arrangement. Operating and finance lease assets are included in "Operating right-of-use assets" and "Property, equipment and software, net," respectively, in our Consolidated Balance Sheets. Our lease terms include the base, non-cancelable lease term, and any options to extend or terminate the lease when it is reasonably certain at commencement that we will exercise such options. Some of our data center and office space leases contain such extension and termination options. We will remeasure our lease liability and adjust the related right-of-use asset upon the occurrence of the following: lease modifications not accounted for as a separate contract; a triggering event that changes the certainty of the lessee exercising an option to renew or terminate the lease, or purchase the underlying asset; or the resolution of a contingency upon which any variable lease payments are based such that those payments become fixed. Operating lease expense is recognized on a straight-line basis over the lease term. Finance lease assets are amortized on a straight-line basis over the shorter of the estimated useful lives of the assets or the lease term. The interest component of a finance lease is included in "Interest expense" and recognized using the effective interest method over the lease term. Leases with terms of less than 12 months at commencement are expensed on a straight-line basis over the lease term in accordance with the short-term lease practical expedient under ASC 842. We have also elected the practical expedient under ASC 842 to not separate lease and non-lease components within a leasing arrangement. Non-lease components primarily include payments for maintenance and utilities. We have elected to apply both of these practical expedients to all classes of underlying assets. Variable payments related to a lease are expensed as incurred. These costs often relate to payments for a proportionate share of real estate taxes, insurance, common area maintenance, and other operating costs in addition to base rent.
Leases, Lessor	We are the intermediate lessor in certain sublease arrangements and account for both the head lease and the associated sublease as separate operating leases. We offset rental income against head lease operating costs within "Cost of revenue" or "Selling, general and administrative expenses," depending on whether the head lease is a data center or office space lease. We are deemed a lessor in certain hosting arrangements where our equipment is located in a customer’s data center. We account for these arrangements as either sales-type or direct finance leases.
Debt Issuance Costs	Debt Issuance Costs Debt issuance costs such as underwriting, financial advisory, professional fees and other similar fees are deferred and recognized in interest expense over the estimated life of the related debt instrument using the effective interest method or the straight-line method, as applicable. Debt issuance costs related to our debt instruments are classified as a direct deduction from the carrying value of the long-term debt liability or as an asset within "Other non-current assets" on the Consolidated Balance Sheets.
Financing Obligations	Financing Obligations From time to time, we enter into installment payment arrangements with certain equipment and software vendors. These arrangements are generally non-interest bearing, and require the calculation of an imputed interest rate. We also may enter into sale-leaseback arrangements for certain equipment in which we sell the assets to a third party and concurrently lease the assets back for a specified term. These arrangements generally do not qualify as asset sales because they include a purchase option that we are reasonably certain to exercise and therefore they are accounted for as failed sale-leasebacks. In addition, we lease properties that were deemed failed sale-leasebacks upon the adoption of ASC 842 due to options to purchase the underlying assets at an exercise price that is not at fair value or due to the present value of the future minimum lease payments exceeding the fair value of the underlying assets.
Restructuring Activities	Restructuring Activities We record restructuring activities including costs for one-time termination benefits in accordance with ASC 420 . The timing of recognition for severance costs accounted for under ASC 420 depends on whether employees are required to render service until they are terminated in order to receive the termination benefits. If employees are required to render service until they are terminated in order to receive the termination benefits, a liability is recognized ratably over the future service period. Otherwise, a liability is recognized when management has committed to a restructuring plan and has communicated those actions to employees. Under ASC 420-10, we establish a liability for a cost associated with an exit or disposal activity, including severance and non-lease contract termination obligations, and other related costs, when the liability is incurred, rather than at the date that we commit to an exit plan. We reassess the expected cost to complete the exit or disposal activities at the end of each reporting period and adjust our remaining estimated liabilities, if necessary.
Revenue Recognition	Revenue Recognition All of our revenue is from contracts with customers. We account for a contract when it has approval and commitment from all parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. We provide cloud computing to customers, which is broadly defined as the delivery of computing, storage and applications over the Internet. Cloud computing is a service transaction under which the services we provide vary on a daily basis. The totality of services provided represent a single integrated solution tailored to the customer’s specific needs. As such, our performance obligations to our customers consist of a single integrated solution delivered as a series of distinct daily services. We recognize revenue on a daily basis as services are provided in an amount that reflects the consideration to which we expect to be entitled in exchange for the services. Our usage-based arrangements generally include variable consideration components consisting of monthly utility fees with a defined price and undefined quantity. Additionally, our contracts contain service level guarantees that provide discounts when we fail to meet specific obligations and certain services may include volume discounts based on usage. As these variable consideration components consist of a single distinct daily service provided on a single performance obligation, we account for this consideration as services are provided and earned. In accordance with the series guidance within ASC 606, regarding modification to a single performance obligation, when contracts are modified to add, remove or change existing services, the modification will only affect the accounting for the remaining distinct goods and services provided. As such, our contract modifications are accounted for prospectively. A substantial amount of revenue, particularly within our Private Cloud segment, relates to fees associated with offerings that generally have a fixed term, typically from 12 to 36 months, with a monthly recurring fee based on the computing resources utilized and provided to the customer, the complexity of the underlying infrastructure, and the level of support we provide. Customers generally have the right to cancel their contracts by providing prior written notice to us of their intent to cancel the remainder of the contract term. Many of our contracts require our customers to pay early termination fees in the event they cancel a contract prior to the end of its term, typically amounting to the outstanding value of the contract. These fees are recognized as revenue in the period of contract termination as we have no further obligation to perform. Our other primary sources of revenue are for services within our Public Cloud segment and legacy OpenStack business. Customers are generally invoiced monthly based on usage. Contracts for these arrangements typically operate on a consumption model and can be canceled at any time without penalty. We also provide customers with professional services for the design and implementation of application, security and data services. Professional service contracts are either fixed-fee or time-and-materials based. We typically consider these services to be a separate performance obligation from other integrated solutions being provided to the same customer. Our performance obligations under these arrangements are typically to provide the services on a daily basis over a period of time and therefore we recognize revenue as the services are performed. We also offer customers the flexibility to select the best combination of offerings in order to meet the requirements of their unique applications and provide the technology to seamlessly operate and manage multiple cloud computing environments. Judgment is required in assessing whether a service is distinct, including determination of whether the customer could benefit from the service on its own or in conjunction with other readily available resources and whether certain services are highly integrated into a bundle of services that represent the combined output specified by the customer. Arrangements can contain multiple performance obligations that are distinct, which are accounted for separately. Each performance obligation is recognized as services are provided based on their SSP. Judgment is required to determine the SSP for each of our distinct performance obligations. We utilize a range of prices when developing our estimates of SSP. Revenue recognition for revenue generated from arrangements in which we resell third party infrastructure bundled with our managed services, requires judgment to determine whether revenue can be recorded at the gross sales price or net of third party fees. Typically, revenue is recognized on a gross basis when it is determined that we are the principal in the relationship. We are considered the principal in the relationship when we are primarily responsible for fulfilling the contract and obtain control of the third party infrastructure before transferring it as an integral part of our performance obligation to provide services to the customer. Revenue is recognized net of third party fees when we determine that our obligation is only to facilitate the customers’ purchase of third party infrastructure. Revenue is reported net of customer credits and sales and use tax. Contract Balances Timing of revenue recognition may differ from the timing of invoicing to customers. Invoiced amounts and accrued unbilled usage are recorded in accounts receivable and either deferred revenue or revenue. Trade accounts receivable are recorded at the invoiced amount and generally do not bear interest. Our accounts receivable balance also includes unbilled amounts representing revenue recorded for usage-based services provided in the period but which are invoiced in arrears. We record an allowance for credit losses for estimated losses resulting from uncollectible receivables. When evaluating the adequacy of the allowance, we consider historical bad debt write-offs and all known facts and circumstances such as current economic conditions and trends, customer creditworthiness, and specifically identified customer risks. Our arrangements contain service level commitments with our customers. To the extent that such service levels are not achieved or are otherwise disputed, we are required to issue service credits for a portion of the service fees paid by our customers. At each reporting period, we accrue for credits which are due to customers, but not yet issued. We recognize revenue for certain fixed term contracts in which services are provided in advance of the first invoice. This revenue is recognized as a contract asset, separate from accounts receivable. A contract liability, presented as deferred revenue on our Consolidated Balance Sheets, is recognized when services are invoiced prior to being provided. Cost Incurred to Obtain and Fulfill a Contract We recognize assets for the incremental costs to obtain and fulfill a contract with a customer. Incremental costs to obtain a contract include sales commissions on the initial contract while costs to fulfill a contract include implementation and set-up related expenses. These costs are capitalized within the Consolidated Balance Sheets and are recognized as expense over the period the related services are expected to be delivered to the customer, which is approximately 30 months including expected renewals. If such period is less than 12 months, we have elected to apply the practical expedient under ASC 606 and expense costs as incurred. We include expected renewals in the period over which related services are expected to be delivered because sales commissions paid on renewals are not material and not commensurate with sales commissions paid on the initial contract. Sales commissions expense is recorded within "Selling, general and administrative expenses" and implementation and amortization of set-up costs are recorded within "Cost of revenue" in the Consolidated Statements of Comprehensive Loss. These capitalized costs are included in "Other non-current assets" in the Consolidated Balance Sheets.
Cost of Revenue	Cost of Revenue Cost of revenue primarily consists of expenses related to personnel, software licenses, the costs to operate our data center facilities, including depreciation expense, and infrastructure expense related to our service offerings bundled with third party clouds. Personnel expenses include the salaries, share-based compensation, non-equity incentive compensation and related expenses of our support teams and data center employees. Data center facility costs include rent, utility costs, maintenance fees, and bandwidth.
Selling, General and Administrative Expenses	Selling, General and Administrative Expenses SG&A expenses primarily consist of: (i) employee-related costs for functions such as executive management, sales and marketing, R&D, finance and accounting, human resources, information technology, and legal; (ii) costs for advertising and promoting our services and to generate customer demand; (iii) general costs such as professional fees, office facilities, software, and equipment expenses, including the related depreciation, and other overhead costs; and (iv) definite-lived intangibles amortization expense.
Advertising Costs	Advertising costs are expensed in the period incurred.
Share-Based Compensation	Share-Based Compensation We grant equity awards, including stock options and restricted stock, to eligible participants. Share-based compensation expense for equity awards is measured at fair value on the grant date. The fair value of stock options with either solely a service requirement or with the combination of service and performance requirements is determined using the Black-Scholes valuation model, which requires us to make assumptions and judgments about variables related to our common stock and the related awards. The fair value of restricted stock with either solely a service requirement or with the combination of service and performance requirements is based on the closing fair market value of our common stock on the date of grant. The fair value of awards with vesting conditions dependent upon market performance is determined using a Monte Carlo simulation. Share-based compensation expense is recognized over the awards requisite service period. For awards with graded vesting that are subject only to a service condition, the expense is recognized on a straight-line basis over the service period for the entire award. Expense for awards with a performance condition is recognized
Income Taxes	Income Taxes Income taxes are accounted for using the asset and liability method. Deferred income taxes are provided for temporary differences in recognizing certain income, expense, and credit items for financial reporting purposes and tax reporting purposes. Such deferred income taxes primarily relate to the difference between the tax bases of assets and liabilities and their financial reporting amounts. Deferred tax assets and liabilities are measured by applying enacted statutory tax rates applicable to the future years in which deferred tax assets or liabilities are expected to be settled or realized. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversals of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. We are under certain domestic and foreign tax audits. Due to the complexity involved with certain tax matters, there is the possibility that the various taxing authorities may disagree with certain tax positions filed on our income tax returns. We have considered all relevant facts and circumstances and believe that we have made adequate provision for all uncertain tax positions.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy below prioritizes the inputs used in measuring fair value into three categories: Level 1 – Observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3 – Unobservable inputs that are supported by little or no market activity, which require management judgment or estimation. The fair values are therefore determined using model-based techniques, including discounted cash flow models. Financial instruments measured at fair value on a recurring basis primarily consist of money market funds and derivative instruments. The fair values of money market funds are measured using Level 1 inputs, which are based on a market approach using prices and other relevant information generated by market transactions involving identical or comparable assets. The fair values of derivative instruments are measured using Level 2 inputs. See "Derivative Instruments" below for more information on the inputs used to fair value our derivative instruments. The fair values of our long-term debt instruments are measured using Level 2 inputs. See Note 7, "Debt" for more information on the inputs used to fair value our long-term debt instruments. The fair values of acquired identifiable assets and liabilities assumed in acquisitions accounted for as business combinations are measured using Level 3 inputs. Refer to "Business Combinations" above for more information on the inputs used to fair value our identifiable assets and liabilities assumed in acquisitions. The fair values of our reporting units and indefinite-lived intangible assets are measured using Level 3 inputs. See "Goodwill and Indefinite-lived Intangible Assets" above for more information on the inputs used to fair value our reporting units and indefinite-lived intangible assets. The fair value of the convertible promissory note described in Note 2, "Customer Contracts" is classified as Level 3 in the fair value hierarchy due to the use of unobservable inputs such as the issuer's credit risk and probabilities of various settlement scenarios.
Foreign Currency	Foreign Currency We have assessed the functional currency of each of our international subsidiaries and have generally designated the local currency to be their respective functional currencies. The assets and liabilities of our international subsidiaries are translated to the U.S. dollar at the end-of-period exchange rates. Capital accounts are determined to be of a permanent nature and are therefore translated using historical exchange rates. Revenue and expenses are translated using average exchange rates. Foreign currency translation adjustments arising from differences in exchange rates from period to period are recorded within "Accumulated other comprehensive income" in the Consolidated Balance Sheets.
Derivative Instruments	Derivative Instruments We utilize derivative instruments, including interest rate swap agreements, foreign currency hedging contracts and fixed price power contracts, to manage our exposure to interest rate risk, foreign currency fluctuations and commodity price risk. We only hold such instruments for economic hedging purposes, not for speculative or trading purposes. Our derivative instruments are transacted only with highly-rated institutions, which reduces our exposure to credit risk in the event of nonperformance. Interest Rate Swaps We are exposed to interest rate risk associated with fluctuations in interest rates on the floating-rate Term Loan Facility. The objective in using interest rate derivatives is to manage our exposure to interest rate movements. To accomplish this objective, we have entered into interest rate swap agreements as part of our interest rate risk management strategy. Interest rate swaps involve the receipt of variable amounts from a counterparty in exchange for the company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Our interest rate swaps, excluding the portion treated as debt, are recognized at fair value in the Consolidated Balance Sheets and are valued using pricing models that rely on market observable inputs such as yield curve data, which are classified as Level 2 inputs within the fair value hierarchy. Foreign Currency Hedging Contracts The majority of our customers are invoiced, and the majority of our expenses are paid, by us or our subsidiaries in the functional currency of our company or our subsidiaries, respectively. We also have exposure to foreign currency transaction gains and losses as the result of certain receivables due from our foreign subsidiaries. As such, the results of operations and cash flows of our foreign subsidiaries are subject to fluctuations in foreign currency exchange rates. The objective of our foreign currency hedging contracts is to manage our exposure to foreign currency movements. To accomplish this objective, we may enter into foreign currency forward contracts and collars. A forward contract is an agreement to buy or sell a quantity of a currency at a predetermined future date and at a predetermined exchange rate. A collar is a strategy that uses a combination of a purchased put option and a sold call option with equal premiums to hedge a portion of anticipated cash flows, or to limit possible gains or losses on an underlying asset or liability to a specific range. The put and call options have identical notional amounts and settlement dates. These contracts are recognized at fair value in the Consolidated Balance Sheets and are valued using pricing models that rely on market observable inputs such as current exchange rates, which are classified as Level 2 inputs within the fair value hierarchy. We have not designated these contracts as cash flow hedges for accounting purposes, therefore, all changes in the fair value are recorded in "Other expense, net." As of December 31, 2022 and 2023, we do not have any outstanding foreign currency hedging contracts. Fixed Price Power Contracts We consume a large quantity of power to operate our data centers and as such are exposed to risk associated with fluctuations in the price of power. The objective of our fixed price power contracts is to manage our exposure to the price of power. The fixed price power contracts, which we enter into from time to time to manage the risk related to the uncertainty of future power prices, allow for the purchase of a set volume of power at a fixed rate. We evaluate every fixed price power contract to determine if the contract meets the definition of a derivative, which requires recognizing the contract at fair value on the Consolidated Balance Sheets with changes in the fair value recorded in the Consolidated Statements of Comprehensive Loss. If a contract is deemed to be a derivative, we also determine if it qualifies for the normal purchases and normal sales scope exception to derivative accounting, which would result in expensing electricity usage as incurred. Power contracts accounted for as derivatives are valued using pricing models that rely on market observable inputs such as current power prices, which are classified as Level 2 inputs within the fair value hierarchy. As of December 31, 2022 and 2023, we do not have any power contracts recorded at fair value on the Consolidated Balance Sheets, as we have applied the normal purchases and normal sales scope exception to derivative accounting for all fixed priced power contracts.
Recently Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Reference Rate Reform The United Kingdom's Financial Conduct Authority, which regulates LIBOR, announced that it will not compel panel banks to contribute to the overnight 1, 3, 6 and 12 months U.S. dollar LIBOR tenors after June 30, 2023 and all other tenors after December 31, 2021. U.S. dollar LIBOR may be replaced by SOFR or other benchmark rates over the next several years. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (ASC 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting containing practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. In December 2022, the FASB issued ASU No. 2022-06, Reference Rate Reform (ASC 848) - Deferral of the Sunset Date of Topic 848 , which extended the date to apply the practical expedients outlined in ASU No. 2020-04 from December 31, 2022 to December 31, 2024. The guidance in these ASUs is optional and may be applied from March 12, 2020 through December 31, 2024 as reference rate reform activities occur. During the second quarter of 2023, we elected to apply certain practical expedients in connection with the execution of amendments to our affected contracts that referenced LIBOR. On April 26, 2023, we executed an amendment to our First Lien Credit Agreement, which governs our Senior Facilities borrowings, to establish Term SOFR as the benchmark rate for determining the applicable interest rate, replacing LIBOR. In addition, effective May 9, 2023, we amended our interest rate swap agreement to change the index from three-month LIBOR to one-month Term SOFR. See Note 7, Debt" and Note 15, "Derivatives" for more information. We continue to evaluate the impact of the guidance and may apply other elections prior to December 31, 2024, as applicable, as additional changes in the market occur. Not Yet Adopted Segment Disclosures In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures . ASU 2023-07 requires disclosure of incremental segment information on an annual and interim basis, including significant segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of segment profit or loss. Additionally, the ASU requires disclosure of the title and position of our CODM and an explanation of how the CODM uses the reported measures of segment profit or loss in assessing segment performance and deciding how to allocate resources. The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. This guidance is effective for Rackspace beginning with our 2024 Form 10-K for annual disclosures and the Q1 2025 Form 10-Q for interim disclosures, with early adoption permitted. The guidance should be applied retrospectively to all periods presented in the financial statements. The guidance, once adopted, will result in increased reportable segment disclosures. Income Tax Disclosures In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures . ASU 2023-09 expands the existing disclosure requirements for the annual rate reconciliation between the effective tax rate and the statutory federal tax rate by requiring reconciliation items to be disaggregated by defined categories and disclosed as both percentages and amounts. The ASU also requires the disaggregation of income taxes paid by jurisdiction for each annual period presented. This guidance is effective for Rackspace beginning with our 2025 Form 10-K annual disclosures, with early adoption permitted. The guidance should be applied on a prospective basis, but retrospective application is permitted. The guidance, once adopted, will result in increased income tax disclosures. SEC Rule Changes In March 2024, the SEC adopted new rules that will require registrants to provide certain climate-related information in their registration statements and annual reports. The rules require information about a registrant's climate-related risks that are reasonably likely to have a material impact on its business, results of operations, or financial condition. The required information about climate-related risks will also include disclosure of a registrant's greenhouse gas emissions. In addition, the rules will require registrants to present certain climate-related financial metrics in their audited financial statements. We are currently evaluating the potential impact of these rules on our consolidated financial statements and related disclosures.
Net Loss Per Share	Net Loss Per Share Basic net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted average shares outstanding during the period.

Company Overview, Basis of Pr_3

Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives, Property Equipment and Software	The following table shows the estimated useful lives used for property, equipment and software: Classification Estimated Useful Lives Computers and equipment 3 to 5 years Software 3 years Furniture and fixtures 7 years Buildings and leasehold improvements 2 to 39 years Property, equipment and software, net, consisted of the following: (In millions) December 31, December 31, Computers and equipment $ 1,131.2 $ 1,154.9 Software 464.2 452.8 Furniture and fixtures 15.8 14.5 Buildings and leasehold improvements 402.2 411.8 Property, equipment and software, at cost 2,013.4 2,034.0 Less: Accumulated depreciation (1,400.3) (1,442.1) Work in process 15.2 16.9 Property, equipment and software, net $ 628.3 $ 608.8 The table below presents depreciation expense included in segment operating profit above for the years ended December 31, 2021, 2022 and 2023. Year Ended December 31, (In millions) 2021 2022 2023 Public Cloud $ 8.4 $ 8.2 $ 9.2 Private Cloud 189.9 170.2 171.3 Corporate functions 46.8 42.5 28.2 Total depreciation expense $ 245.1 $ 220.9 $ 208.7

Customer Contracts (Tables)

Customer Contracts (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Balances Related to Customer Contracts	The following table presents the balances related to customer contracts: (In millions) Consolidated Balance Sheets Account December 31, 2021 December 31, 2022 December 31, 2023 Accounts receivable, net Accounts receivable, net (1) $ 554.3 $ 622.2 $ 339.7 Current portion of contract assets Other current assets $ 15.2 $ 16.0 $ 10.7 Non-current portion of contract assets Other non-current assets $ 13.1 $ 10.4 $ 8.6 Current portion of deferred revenue Deferred revenue $ 98.6 $ 80.9 $ 78.8 Non-current portion of deferred revenue Other non-current liabilities $ 13.6 $ 8.6 $ 5.3
Schedule of Changes in Allowance for Doubtful Accounts	The following table sets forth the changes in the allowance for credit losses during the years ended December 31, 2021, 2022 and 2023: (In millions) Beginning Balance Additions (1) Write-offs of Accounts Receivables, Net of Recoveries Ending Balance For the years ending December 31, 2021 $ 16.2 $ 5.4 $ (7.9) $ 13.7 2022 $ 13.7 $ 11.0 $ (6.3) $ 18.4 2023 $ 18.4 $ 9.2 $ (13.4) $ 14.2 (1) Additions to the allowance for credit losses are charged to bad debt within "Selling, general and administrative expenses."
Schedule of Capitalized Contract Cost	Amortization of capitalized sales commissions and implementation costs were as follows: Year Ended December 31, (In millions) 2021 2022 2023 Amortization of capitalized sales commissions $ 43.7 $ 43.7 $ 38.1 Amortization of capitalized implementation costs $ 18.1 $ 16.4 $ 13.0

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Loss Per Share	The following table sets forth the computation of basic and diluted net loss per share: Year Ended December 31, (In millions, except per share data) 2021 2022 2023 Basic and diluted net loss per share: Net loss attributable to common stockholders $ (218.3) $ (804.8) $ (837.8) Weighted average shares outstanding: Common stock 208.0 211.2 215.3 Number of shares used in per share computations 208.0 211.2 215.3 Net loss per share $ (1.05) $ (3.81) $ (3.89)

Property, Equipment and Softw_2

Property, Equipment and Software, net (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Equipment, and Software, net	The following table shows the estimated useful lives used for property, equipment and software: Classification Estimated Useful Lives Computers and equipment 3 to 5 years Software 3 years Furniture and fixtures 7 years Buildings and leasehold improvements 2 to 39 years Property, equipment and software, net, consisted of the following: (In millions) December 31, December 31, Computers and equipment $ 1,131.2 $ 1,154.9 Software 464.2 452.8 Furniture and fixtures 15.8 14.5 Buildings and leasehold improvements 402.2 411.8 Property, equipment and software, at cost 2,013.4 2,034.0 Less: Accumulated depreciation (1,400.3) (1,442.1) Work in process 15.2 16.9 Property, equipment and software, net $ 628.3 $ 608.8 The table below presents depreciation expense included in segment operating profit above for the years ended December 31, 2021, 2022 and 2023. Year Ended December 31, (In millions) 2021 2022 2023 Public Cloud $ 8.4 $ 8.2 $ 9.2 Private Cloud 189.9 170.2 171.3 Corporate functions 46.8 42.5 28.2 Total depreciation expense $ 245.1 $ 220.9 $ 208.7

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amounts of Goodwill by Reportable Segment	The following table sets forth the changes in the carrying amounts of goodwill by reportable segment during the years ended December 31, 2022 and 2023. As a result of the January 1, 2023 reorganization, we changed our segment reporting to reflect this reorganization under two reportable segments: Public Cloud and Private Cloud. Accordingly, we reallocated the total consolidated net balance of goodwill as of January 1, 2023 under the new segments, shown below: (In millions) Public Cloud Private Cloud Multicloud Services Apps & Cross Platform OpenStack Public Cloud Total Consolidated Gross goodwill as of December 31, 2021 $ — $ — $ 2,679.3 $ 322.5 $ 52.4 $ 3,054.2 Less: Accumulated impairment charges — — (295.0) — (52.4) (347.4) Goodwill, net as of December 31, 2021 — — 2,384.3 322.5 — 2,706.8 Just Analytics acquisition — — — 5.9 — 5.9 Impairment of goodwill — — (405.2) (129.3) — (534.5) Foreign currency translation — — (22.7) (0.4) — (23.1) Goodwill, net as of December 31, 2022 $ — $ — $ 1,956.4 $ 198.7 $ — $ 2,155.1 Gross goodwill as of December 31, 2022 $ — $ — $ 2,656.6 $ 328.0 $ 52.4 $ 3,037.0 Less: Accumulated impairment charges — — (700.2) (129.3) (52.4) (881.9) Goodwill, net as of December 31, 2022 — — 1,956.4 198.7 — 2,155.1 Reallocation adjustment (1) 594.7 1,560.4 (1,956.4) (198.7) — — Impairment of goodwill — (708.8) — — — (708.8) Foreign currency translation 3.0 3.1 — — — 6.1 Goodwill, net as of December 31, 2023 $ 597.7 $ 854.7 $ — $ — $ — $ 1,452.4 Gross goodwill as of December 31, 2023 $ 597.7 $ 1,563.5 $ — $ — $ — $ 2,161.2 Less: impairment charges (2) — (708.8) — — — (708.8) Goodwill, net as of December 31, 2023 $ 597.7 $ 854.7 $ — $ — $ — $ 1,452.4 (1) Represents the adjustment to reallocate goodwill of the former Multicloud Services and Apps & Cross Platform reportable segments to Public Cloud and Private Cloud reportable segments, using the relative fair value basis, as a result of the January 1, 2023 reorganization. (2) On a consolidated basis, gross and net goodwill as of December 31, 2023 was $3,043.1 million and $1,452.4 million, respectively. This includes $1,590.7 million of accumulated impairment charges as of December 31, 2023.
Schedule of Finite-Lived Intangible Assets Other Than Goodwill	The following table provides information regarding our intangible assets other than goodwill: December 31, 2022 December 31, 2023 (In millions) Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Customer relationships $ 1,928.5 $ (914.9) $ 1,013.6 $ 1,932.0 $ (1,073.9) $ 858.1 Other 27.7 (22.3) 5.4 27.8 (26.9) 0.9 Total definite-lived intangible assets 1,956.2 (937.2) 1,019.0 1,959.8 (1,100.8) 859.0 Trade name (indefinite-lived) 217.0 — 217.0 160.0 — 160.0 Total intangible assets other than goodwill $ 2,173.2 $ (937.2) $ 1,236.0 $ 2,119.8 $ (1,100.8) $ 1,019.0
Schedule of Indefinite-Lived Intangible Assets Other Than Goodwill	The following table provides information regarding our intangible assets other than goodwill: December 31, 2022 December 31, 2023 (In millions) Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Customer relationships $ 1,928.5 $ (914.9) $ 1,013.6 $ 1,932.0 $ (1,073.9) $ 858.1 Other 27.7 (22.3) 5.4 27.8 (26.9) 0.9 Total definite-lived intangible assets 1,956.2 (937.2) 1,019.0 1,959.8 (1,100.8) 859.0 Trade name (indefinite-lived) 217.0 — 217.0 160.0 — 160.0 Total intangible assets other than goodwill $ 2,173.2 $ (937.2) $ 1,236.0 $ 2,119.8 $ (1,100.8) $ 1,019.0
Schedule of Future Amortization of Intangible Assets	As of December 31, 2023, amortization of intangible assets for the next five years and thereafter is expected to be as follows: (In millions) Intangible Assets Year ending: 2024 $ 154.4 2025 146.8 2026 123.9 2027 117.3 2028 117.3 Thereafter 199.3 Total $ 859.0

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Debt consisted of the following: (In millions, except %) December 31, 2022 December 31, 2023 Debt Instrument Maturity Date Interest Rate (1) Amount Interest Rate (1) Amount Term Loan Facility February 15, 2028 7.38% $ 2,259.8 8.23% $ 2,181.2 Revolving Credit Facility August 7, 2025 —% — —% — 3.50% Senior Secured Notes February 15, 2028 3.50% 550.0 3.50% 513.7 5.375% Senior Notes December 1, 2028 5.375% 550.0 5.375% 197.6 Less: unamortized debt issuance costs (30.7) (21.4) Less: unamortized debt discount (10.7) (8.5) Total debt 3,318.4 2,862.6 Less: current portion of debt (23.0) (23.0) Debt, excluding current portion $ 3,295.4 $ 2,839.6 (1) Interest rates are as of each respective balance sheet date.
Schedule of Maturities of Debt Obligations	The maturities of debt obligations for the next five years at December 31, 2023 are as follows: (In millions) Amount Year ending: 2024 $ 23.0 2025 23.0 2026 23.0 2027 23.0 2028 2,800.5 Thereafter — Total $ 2,892.5

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Finance Leases, Property and Equipment	Assets recorded as property and equipment under finance leases, and the related accumulated depreciation balances as of December 31, 2022 and 2023 were as follows: December 31, 2022 December 31, 2023 (In millions) Computers and equipment $ 192.5 $ 159.7 Buildings 285.9 290.3 Less: Accumulated depreciation (140.0) (124.2) Net book value of property and equipment under finance leases $ 338.4 $ 325.8
Schedule of Components of Operating and Finance Lease Expense	The components of operating and finance lease expense for the years ended December 31, 2021, 2022 and 2023 were as follows: Year Ended December 31, (In millions) 2021 2022 2023 Operating lease expense: Fixed lease expense $ 62.2 $ 58.1 $ 63.3 Variable lease expense 18.8 17.9 21.7 Short-term lease expense 0.4 0.7 1.2 Sublease income (2.6) (2.4) (0.8) Total operating lease expense $ 78.8 $ 74.3 $ 85.4 Finance lease expense: Depreciation of finance lease assets $ 46.3 $ 51.2 $ 55.8 Interest expense on finance lease liabilities 28.2 23.5 26.6 Total finance lease expense $ 74.5 $ 74.7 $ 82.4 Supplemental operating cash flow information related to operating and finance leases for the years ended December 31, 2021, 2022 and 2023 were as follows: Year Ended December 31, (In millions) 2021 2022 2023 Cash payments for lease liabilities included within operating activities: Operating leases $ (78.4) $ (73.3) $ (80.2) Finance leases (26.9) (26.7) (29.2) Operating leases: New lease assets obtained in exchange for lease liabilities $ 18.6 $ 17.3 $ 43.1 Modified/renewed lease assets obtained in exchange for lease liabilities 38.5 23.2 15.5 Total lease assets obtained in exchange for lease liabilities $ 57.1 $ 40.5 $ 58.6
Schedule of Leases, Supplemental Information	As of December 31, 2022 and 2023, the weighted average remaining lease term and weighted average discount rate of our operating and finance leases, respectively, were as follows: December 31, 2022 December 31, 2023 Weighted average remaining lease term (in years) Operating leases 3 4 Finance leases 12 11 Weighted average discount rate Operating leases 6.3 % 6.5 % Finance leases 7.0 % 7.2 %
Schedule of Future Lease Payments, Operating Leases	Future lease payments under operating and finance leases as of December 31, 2023 are as follows: (In millions) Operating leases Finance leases (1) Year ending: 2024 $ 73.8 $ 78.3 2025 31.3 61.0 2026 19.2 32.1 2027 13.8 30.9 2028 6.0 31.6 Thereafter 11.8 306.7 Total future lease payments 155.9 540.6 Less amount representing interest (15.3) (176.8) Total lease liability $ 140.6 $ 363.8 (1) We excluded a $38.3 million finance lease, on an undiscounted basis, that has not yet commenced. The lease, which is for our new corporate headquarter building, will commence in 2024 and has a lease term of approximately eleven years.
Schedule of Future Lease Payments, Finance Leases	Future lease payments under operating and finance leases as of December 31, 2023 are as follows: (In millions) Operating leases Finance leases (1) Year ending: 2024 $ 73.8 $ 78.3 2025 31.3 61.0 2026 19.2 32.1 2027 13.8 30.9 2028 6.0 31.6 Thereafter 11.8 306.7 Total future lease payments 155.9 540.6 Less amount representing interest (15.3) (176.8) Total lease liability $ 140.6 $ 363.8 (1) We excluded a $38.3 million finance lease, on an undiscounted basis, that has not yet commenced. The lease, which is for our new corporate headquarter building, will commence in 2024 and has a lease term of approximately eleven years.

Financing Obligations (Tables)

Financing Obligations (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Future Payments Under Financing Obligations	As of December 31, 2023, future payments under financing obligations were as follows: (In millions) Amount Year ending: 2024 $ 17.5 2025 18.6 2026 12.5 2027 3.5 2028 3.1 Thereafter 18.2 Total future payments 73.4 Plus amount representing residual asset balance 12.8 Less amount representing interest (19.8) Total financing obligations $ 66.4

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Long-term Purchase Commitment	The minimum commitments for all of these agreements, as of December 31, 2023, are approximated as follows: (In millions) Amount Year ending: 2024 $ 617.9 2025 409.7 2026 316.7 2027 76.2 2028 23.1 Thereafter 51.6 Total $ 1,495.2

July 2021 Restructuring Plan (T

July 2021 Restructuring Plan (Tables)	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	During the year ended December 31, 2021 , we incurred employee related costs, which consisted of one-time termination benefits and certain contractual termination benefits with executives, and other costs, which are accounted for as exit and disposal costs under ASC 420. Other costs consisted of professional fees and non-cash charges related to a contract termination with a third-party. These costs are recorded within "Selling, general and administrative expenses" in the Consolidated Statements of Comprehensive Loss, the components of which were as follows: (In millions) Year Ended December 31, 2021 Employee related costs $ 13.8 Other 11.6 Total restructuring charges $ 25.4
Schedule of Restructuring Reserve by Type of Cost	Liability activity for restructuring costs that are expected to be settled in cash are presented in the table below. (In millions) Employee Related Other Total Liability as of December 31, 2020 $ — $ — $ — Charges 13.8 6.0 19.8 Cash payments (6.7) (5.4) (12.1) Liability as of December 31, 2021 7.1 0.6 7.7 Charges — — — Cash payments (7.1) (0.6) (7.7) Liability as of December 31, 2022 $ — $ — $ — Total cumulative costs incurred as of December 31, 2022 $ 13.8 $ 6.0 $ 19.8

Share-Based Compensation and _2

Share-Based Compensation and Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Equity Awards Outstanding	The composition of the equity awards outstanding as of December 31, 2022 and 2023 was as follows: December 31, 2022 December 31, 2023 (In millions) Restricted stock 13.7 34.5 Stock options 9.3 3.8 Total outstanding awards 23.0 38.3
Schedule of Stock Option Activity	The following table summarizes the stock option activity for the year ended December 31, 2023: Number of Shares (in millions) Weighted Average Exercise Price Weighted Average-Remaining Contractual Life Aggregate Intrinsic Value (in millions) Outstanding at December 31, 2022 9.3 $ 12.65 3.85 $ — Granted — $ — Exercised — $ — Forfeited (1.5) $ 12.06 Expired (4.0) $ 12.51 Outstanding at December 31, 2023 3.8 $ 13.04 5.21 $ — Vested and exercisable at December 31, 2023 3.6 $ 13.07 5.18 $ — Vested and exercisable at December 31, 2023 and expected to vest thereafter (1) 3.8 $ 13.04 5.21 $ — (1) Forfeitures are recognized as they occur, rather than estimated
Schedule of Share-based Payment Award, PSU, Valuation Assumptions	The following table presents the assumptions used to estimate the fair values of the PSUs granted in the periods presented: Year Ended December 31, 2022 2023 Expected stock volatility (1) 54% - 63% 69% - 72% Expected dividend yield (2) — % — % Risk-free interest rate (3) 2.32% - 4.34% 3.76% - 3.78% (1) Management estimates volatility based on the historical trading volatility of a public company peer group and the implied volatility of our assets and current leverage. (2) We have not issued dividends to date and do not anticipate issuing dividends.
Schedule of Restricted Stock Activity	The following table summarizes our restricted stock activity for the year ended December 31, 2023: Number of Units or Shares (in millions) Weighted Average Grant-Date Fair Value Outstanding at December 31, 2022 13.7 $ 9.96 Granted 31.3 $ 2.15 Released (4.6) $ 11.07 Cancelled (5.9) $ 5.09 Outstanding at December 31, 2023 34.5 $ 3.57 Expected to vest after at December 31, 2023 (1) 34.5 $ 3.57
Schedule of Share-based Compensation Expense Recognized Under the Incentive Plan	Total share-based compensation expense is comprised of the following equity and liability classified award amounts: Year Ended December 31, (In millions) 2021 2022 2023 Equity classified awards $ 75.4 $ 69.5 $ 64.6 Liability classified awards — — 0.8 Total share-based compensation expense $ 75.4 $ 69.5 $ 65.4 Share-based compensation expense recogniz ed was as follows: Year Ended December 31, (In millions) 2021 2022 2023 Cost of revenue $ 16.7 $ 11.6 $ 9.1 Selling, general and administrative expenses 58.7 57.9 56.3 Pre-tax share-based compensation expense 75.4 69.5 65.4 Less: Income tax benefit (15.8) (14.6) (13.7) Total share-based compensation expense, net of tax $ 59.6 $ 54.9 $ 51.7

Taxes (Tables)

Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Benefit for Income Taxes	The benefit for income taxes consisted of the following: Year Ended December 31, (In millions) 2021 2022 2023 Federal $ (0.3) $ 0.2 $ 0.2 Foreign 5.6 11.4 18.1 State 5.4 4.3 7.0 Total current 10.7 15.9 25.3 Deferred: Federal (26.1) (81.7) (34.3) Foreign (14.3) (6.7) (8.4) State (1.1) (20.4) 0.8 Total deferred (41.5) (108.8) (41.9) Total benefit for income taxes $ (30.8) $ (92.9) $ (16.6)
Schedules of Loss Before Income Taxes	Loss before income taxes from U.S. and foreign operations were as follows: Year Ended December 31, (In millions) 2021 2022 2023 U.S. $ (204.9) $ (819.6) $ (678.4) Foreign (44.2) (78.1) (176.0) Total loss before income taxes $ (249.1) $ (897.7) $ (854.4)
Schedule of Reconciliation for Statutory Federal Tax Rate	A reconciliation of the statutory federal tax rate to the effective tax rate is as follows: Year Ended December 31, 2021 2022 2023 Statutory federal tax rate 21.0 % 21.0 % 21.0 % State taxes, net of federal benefit (0.3) % 1.6 % 0.3 % Tax rate differentials for international jurisdictions 0.4 % (1.1) % 2.5 % Research and development credit (0.4) % — % — % Effects of other enacted tax law and rate changes (0.3) % 0.1 % (3.0) % Valuation allowance (0.7) % (0.1) % (0.8) % Share-based compensation 0.1 % (0.6) % (1.1) % Nondeductible compensation (2.5) % (0.7) % (0.8) % Tax impact of goodwill impairment (4.4) % (9.9) % (15.9) % Other, net (0.5) % — % (0.3) % Effective tax rate 12.4 % 10.3 % 1.9 %
Schedule of Deferred Tax Assets and Liabilities	Significant components of our deferred tax assets and liabilities are as follows: (In millions) December 31, December 31, Deferred tax assets: Share-based compensation $ 15.3 $ 13.9 Accruals not currently deductible 17.4 13.3 Finance lease liabilities 64.7 90.4 Net operating loss carryforwards 56.8 31.3 Foreign tax credit 33.7 16.9 Research and development credits 29.4 30.5 Depreciation and amortization 4.2 4.0 Disallowed interest carryforward 43.8 77.4 Operating lease liabilities 35.5 28.6 Other 20.2 19.1 Total gross deferred tax assets 321.0 325.4 Valuation allowance (58.5) (66.1) Total net deferred tax assets 262.5 259.3 Deferred tax liabilities: Depreciation and amortization 294.9 265.1 Finance lease liabilities 7.2 6.6 Capitalized costs 11.7 8.7 Interest rate swaps 32.2 21.8 Operating right-of-use assets 31.8 22.7 Other 5.4 6.9 Total gross deferred tax liabilities 383.2 331.8 Net deferred tax liabilities $ 120.7 $ 72.5
Schedule of Changes to Valuation Allowances	Changes to valuation allowances consisted of the following: (In millions) 2021 2022 2023 Balance at January 1, $ 54.4 $ 58.3 $ 58.5 Additions charged to income tax expense 3.9 1.6 39.2 Reductions credited to income tax expense — (1.4) (31.6) Balance at December 31, $ 58.3 $ 58.5 $ 66.1
Schedule of Unrecognized Tax Benefits Roll Forward	A rollforward of unrecognized tax benefits, excluding accrued penalties and interest, for the years ended December 31, 2021, 2022 and 2023 is as follows: Year Ended December 31, (In millions) 2021 2022 2023 Balance, beginning of period $ 51.0 $ 52.4 $ 57.0 Additions based on tax positions related to the current year 9.0 10.9 12.6 Additions for tax positions of prior years 15.9 0.3 0.9 Reduction for statute expiration (16.7) (4.7) (4.8) Reductions for tax positions of prior years (6.2) (1.9) (2.1) Settlements (0.6) — — Balance, end of period (1) $ 52.4 $ 57.0 $ 63.6 (1) Included within non-current liabilities in the Consolidated Balance Sheets

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The key terms of interest rate swaps are presented below: Effective Date Fixed Rate Paid (Received) December 31, 2022 December 31, 2023 Notional Amount (in millions) Status Notional Amount (in millions) Status Maturity Date Entered into December 2016: February 3, 2017 1.9040% $ — Matured $ — Matured February 3, 2022 February 3, 2017 1.9040% — Matured — Matured February 3, 2022 Entered into December 2018: February 3, 2019 2.7490% — Terminated — Matured November 3, 2023 February 3, 2020 2.7350% — Terminated — Matured November 3, 2023 February 3, 2021 2.7360% — Terminated — Matured November 3, 2023 February 3, 2022 2.7800% — Terminated — Matured November 3, 2023 Entered into February 2021: February 3, 2021 (1.9040)% — Matured — Matured February 3, 2022 February 9, 2021 2.34150% (1) 1,350.0 Active 1,350.0 Active February 9, 2026 Total $ 1,350.0 $ 1,350.0 (1) Fixed rate paid prior to the May 9, 2023 amendment was 2.3820%.
Schedule of Fair Values of Derivative Assets and Liabilities on the Consolidated Balance Sheets	The fair values of our derivatives and their location on the Consolidated Balance Sheets as of December 31, 2022 and 2023 were as follows: December 31, 2022 December 31, 2023 (In millions) Assets Liabilities Assets Liabilities Derivatives designated as hedging instruments Location Interest rate swaps Other current assets $ 44.3 $ — $ 47.0 $ — Interest rate swaps Other non-current assets 80.5 — 36.8 — Interest rate swaps Other current liabilities (1) — 17.3 — 17.3 Interest rate swaps Other non-current liabilities (1) — 39.1 — 20.3 Total $ 124.8 $ 56.4 $ 83.8 $ 37.6 (1) The entire balance is comprised of the financing component of the pay-fixed interest rate swap.
Schedule Offsetting Assets Under Master Netting Arrangements	For financial statement presentation purposes, we do not offset assets and liabilities under master netting arrangements and all amounts above are presented on a gross basis. The following table, however, is presented on a net asset and net liability basis: December 31, 2022 December 31, 2023 (In millions) Gross Amounts on Balance Sheet Effects of Counterparty Netting Net Amounts Gross Amounts on Balance Sheet Effects of Counterparty Netting Net Amounts Assets Interest rate swaps $ 124.8 $ (56.4) $ 68.4 $ 83.8 $ (37.6) $ 46.2 Liabilities Interest rate swaps $ 56.4 $ (56.4) $ — $ 37.6 $ (37.6) $ —
Schedule Offsetting Liabilities Under Master Netting Arrangements	For financial statement presentation purposes, we do not offset assets and liabilities under master netting arrangements and all amounts above are presented on a gross basis. The following table, however, is presented on a net asset and net liability basis: December 31, 2022 December 31, 2023 (In millions) Gross Amounts on Balance Sheet Effects of Counterparty Netting Net Amounts Gross Amounts on Balance Sheet Effects of Counterparty Netting Net Amounts Assets Interest rate swaps $ 124.8 $ (56.4) $ 68.4 $ 83.8 $ (37.6) $ 46.2 Liabilities Interest rate swaps $ 56.4 $ (56.4) $ — $ 37.6 $ (37.6) $ —
Schedule of Derivative Instruments, Effect on Comprehensive Loss	The effect of our derivatives and their location on the Consolidated Statements of Comprehensive Loss for the years ended December 31, 2021, 2022 and 2023 was as follows: Year Ended December 31, (In millions) 2021 2022 2023 Derivatives not designated as hedging instruments Location Interest rate swaps Interest income (expense) $ (19.1) $ (18.5) $ (15.5) Foreign currency contracts (1) Other income (expense), net $ 2.1 $ — $ — Derivatives designated as hedging instruments Location Interest rate swaps Interest income (expense) $ (6.2) $ 11.9 $ 55.5 (1) Relates to two foreign currency forward contracts settled on November 30, 2021. As of December 31, 2022 and 2023, we do not have any outstanding foreign currency hedging contracts.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive income (loss) consisted of the following: (In millions) Accumulated Foreign Currency Translation Adjustments Accumulated Gain (Loss) on Derivative Contracts Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2020 $ 20.8 $ (39.4) $ (18.6) Foreign currency translation adjustments, net of tax benefit of $0.6 million (3.6) — (3.6) Unrealized gain on derivative contracts, net of expense of $3.9 million — 11.5 11.5 Amount reclassified from Accumulated comprehensive income (loss) into earnings, net of tax benefit of $6.0 million (1) — 17.6 17.6 Balance at December 31, 2021 $ 17.2 $ (10.3) $ 6.9 Foreign currency translation adjustments, net of tax benefit of $2.3 million (27.2) — (27.2) Unrealized gain on derivative contracts, net of tax expense of $30.0 million — 86.9 86.9 Amount reclassified from Accumulated comprehensive income (loss) into earnings, net of tax benefit of $1.6 million (2) — 4.8 4.8 Balance at December 31, 2022 $ (10.0) $ 81.4 $ 71.4 Foreign currency translation adjustments, net of tax expense of $1.0 million 8.0 — 8.0 Unrealized gain on derivative contracts, net of tax expense of $3.8 million — 10.8 10.8 Amount reclassified from Accumulated comprehensive income (loss) into earnings, net of tax expense of $10.3 million (3) — (29.9) (29.9) Balance at December 31, 2023 $ (2.0) $ 62.3 $ 60.3 (1) Includes interest expense recognized of $6.4 million and amortization of off-market swap value and accumulated loss at hedge de-designation of $17.1 million for the year ended December 31, 2021. (2) Includes amortization of off-market swap value and accumulated loss at hedge de-designation of $18.5 million for the year ended December 31, 2022, partially offset by a reduction to interest expense recognized of $12.1 million. (3) Includes a reduction to interest expense recognized of $55.6 million related to the cash flow hedge gain for the year ended December 31, 2023, partially offset by an increase to interest expense for the amortization of off-market swap value and accumulated loss at hedge de-designation of $15.5 million.

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Reconciliation of Revenue from Segments to Consolidated	The table below presents a reconciliation of revenue by reportable segment to consolidated revenue and a reconciliation of consolidated segment operating profit to consolidated loss before income taxes for the years ended December 31, 2021, 2022 and 2023. Year Ended December 31, (In millions) 2021 2022 2023 Revenue by segment: Public Cloud $ 1,471.3 $ 1,740.8 $ 1,747.4 Private Cloud 1,538.2 1,381.5 1,209.7 Total consolidated revenue $ 3,009.5 $ 3,122.3 $ 2,957.1 Segment operating profit: Public Cloud $ 120.1 $ 124.9 $ 90.4 Private Cloud 604.3 493.9 340.8 Total consolidated segment operating profit 724.4 618.8 431.2 Corporate functions (240.3) (255.0) (247.8) Share-based compensation expense (75.4) (69.5) (65.4) Special bonuses and other compensation expense (1) (11.8) (10.0) (12.1) Transaction related adjustments, net (2) (25.7) (11.0) (5.2) Restructuring and transformation expenses (3) (161.5) (99.0) (70.8) Hosted Exchange incident expenses, net of proceeds received or expected to be received under our insurance coverage — (5.9) 4.8 Amortization of intangible assets (4) (179.7) (166.8) (161.0) Impairment of goodwill (52.4) (534.5) (708.8) UK office closure (5) — — (12.1) Impairment of assets, net — (146.1) (52.2) Gain on sale of land 19.9 — — Interest expense (205.1) (208.5) (221.6) Gain (loss) on investments, net (3.0) (0.2) 0.3 Debt modification costs and gain (loss) on debt extinguishment (37.5) — 271.3 Other expense, net (1.0) (10.0) (5.0) Total consolidated loss before income taxes $ (249.1) $ (897.7) $ (854.4) (1) Includes expense related to retention bonuses, mainly relating to restructuring and integration projects, and the related payroll tax, senior executive signing bonuses and relocation costs, and payroll taxes associated with the exercise of stock options and vesting of restricted stock. Beginning in the second quarter of 2023, includes expense related to the one-time grant of long-term incentive bonuses as a component of our annual compensation award process. (2) Includes legal, professional, accounting and other advisory fees related to acquisitions, certain one-time compliance costs related to being a public company, integration costs of acquired businesses, purchase accounting adjustments, payroll costs for employees that dedicate significant time to supporting these projects and exploratory acquisition and divestiture costs and expenses related to financing activities. (3) Includes consulting and advisory fees related to business transformation and optimization activities, payroll costs for employees that dedicate significant time to these projects, as well as associated severance, certain facility closure costs, and lease termination expenses. This amount also includes employee related costs and other costs related to the July 2021 Restructuring Plan of $25.4 million for the year ended December 31, 2021, which are accounted for as exit and disposal costs under ASC 420. In addition, it includes total charges of $25.1 million and $5.2 million for the years ended December 31, 2021 and 2022, respectively, related to the July 2021 Restructuring Plan which are not accounted for as exit and disposal costs under ASC 420, including one-time offshore build out costs. (4) All of our intangible assets are attributable to acquisitions, including the Rackspace Acquisition in 2016. (5) Expense recognized related to the closure of a UK office that we exited in the second quarter of 2023 prior to the lease end date.
Schedule of Reconciliation of Gross Profit from Segments to Consolidated	The table below presents a reconciliation of revenue by reportable segment to consolidated revenue and a reconciliation of consolidated segment operating profit to consolidated loss before income taxes for the years ended December 31, 2021, 2022 and 2023. Year Ended December 31, (In millions) 2021 2022 2023 Revenue by segment: Public Cloud $ 1,471.3 $ 1,740.8 $ 1,747.4 Private Cloud 1,538.2 1,381.5 1,209.7 Total consolidated revenue $ 3,009.5 $ 3,122.3 $ 2,957.1 Segment operating profit: Public Cloud $ 120.1 $ 124.9 $ 90.4 Private Cloud 604.3 493.9 340.8 Total consolidated segment operating profit 724.4 618.8 431.2 Corporate functions (240.3) (255.0) (247.8) Share-based compensation expense (75.4) (69.5) (65.4) Special bonuses and other compensation expense (1) (11.8) (10.0) (12.1) Transaction related adjustments, net (2) (25.7) (11.0) (5.2) Restructuring and transformation expenses (3) (161.5) (99.0) (70.8) Hosted Exchange incident expenses, net of proceeds received or expected to be received under our insurance coverage — (5.9) 4.8 Amortization of intangible assets (4) (179.7) (166.8) (161.0) Impairment of goodwill (52.4) (534.5) (708.8) UK office closure (5) — — (12.1) Impairment of assets, net — (146.1) (52.2) Gain on sale of land 19.9 — — Interest expense (205.1) (208.5) (221.6) Gain (loss) on investments, net (3.0) (0.2) 0.3 Debt modification costs and gain (loss) on debt extinguishment (37.5) — 271.3 Other expense, net (1.0) (10.0) (5.0) Total consolidated loss before income taxes $ (249.1) $ (897.7) $ (854.4) (1) Includes expense related to retention bonuses, mainly relating to restructuring and integration projects, and the related payroll tax, senior executive signing bonuses and relocation costs, and payroll taxes associated with the exercise of stock options and vesting of restricted stock. Beginning in the second quarter of 2023, includes expense related to the one-time grant of long-term incentive bonuses as a component of our annual compensation award process. (2) Includes legal, professional, accounting and other advisory fees related to acquisitions, certain one-time compliance costs related to being a public company, integration costs of acquired businesses, purchase accounting adjustments, payroll costs for employees that dedicate significant time to supporting these projects and exploratory acquisition and divestiture costs and expenses related to financing activities. (3) Includes consulting and advisory fees related to business transformation and optimization activities, payroll costs for employees that dedicate significant time to these projects, as well as associated severance, certain facility closure costs, and lease termination expenses. This amount also includes employee related costs and other costs related to the July 2021 Restructuring Plan of $25.4 million for the year ended December 31, 2021, which are accounted for as exit and disposal costs under ASC 420. In addition, it includes total charges of $25.1 million and $5.2 million for the years ended December 31, 2021 and 2022, respectively, related to the July 2021 Restructuring Plan which are not accounted for as exit and disposal costs under ASC 420, including one-time offshore build out costs. (4) All of our intangible assets are attributable to acquisitions, including the Rackspace Acquisition in 2016. (5) Expense recognized related to the closure of a UK office that we exited in the second quarter of 2023 prior to the lease end date.
Schedule of Property, Equipment, and Software, net	The following table shows the estimated useful lives used for property, equipment and software: Classification Estimated Useful Lives Computers and equipment 3 to 5 years Software 3 years Furniture and fixtures 7 years Buildings and leasehold improvements 2 to 39 years Property, equipment and software, net, consisted of the following: (In millions) December 31, December 31, Computers and equipment $ 1,131.2 $ 1,154.9 Software 464.2 452.8 Furniture and fixtures 15.8 14.5 Buildings and leasehold improvements 402.2 411.8 Property, equipment and software, at cost 2,013.4 2,034.0 Less: Accumulated depreciation (1,400.3) (1,442.1) Work in process 15.2 16.9 Property, equipment and software, net $ 628.3 $ 608.8 The table below presents depreciation expense included in segment operating profit above for the years ended December 31, 2021, 2022 and 2023. Year Ended December 31, (In millions) 2021 2022 2023 Public Cloud $ 8.4 $ 8.2 $ 9.2 Private Cloud 189.9 170.2 171.3 Corporate functions 46.8 42.5 28.2 Total depreciation expense $ 245.1 $ 220.9 $ 208.7
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	The tables below present revenue by geographic region and by country for the years ended December 31, 2021, 2022 and 2023. Revenue amounts are based upon the location of the support function servicing the cus tomer. Year Ended December 31, (In millions) 2021 2022 2023 Americas $ 2,253.4 $ 2,341.7 $ 2,181.4 EMEA 632.9 626.6 620.0 APJ 123.2 154.0 155.7 Total revenue $ 3,009.5 $ 3,122.3 $ 2,957.1 Year Ended December 31, (In millions) 2021 2022 2023 United States $ 2,157.0 $ 2,209.2 $ 2,035.6 United Kingdom 542.3 521.6 484.5 Other foreign countries (1) 310.2 391.5 437.0 Total revenue $ 3,009.5 $ 3,122.3 $ 2,957.1 (1) No other foreign country had revenue that exceeded 10% of total consolidated revenue for the years ended December 31, 2021, 2022 and 2023. The table below presents property, equipment and software, net by country, based on the physical location of the assets, as of December 31, 2022 and 2023: (In millions) December 31, December 31, United States $ 487.9 $ 478.4 United Kingdom 116.7 109.0 Other foreign countries (1) 23.7 21.4 Total property, equipment and software, net $ 628.3 $ 608.8 (1) No other foreign country had property, equipment and software, net that exceeded 10% of total consolidated property, equipment and software, net as of December 31, 2022 and 2023.

Condensed Financial Informati_2

Condensed Financial Information of Registrant (Parent Company Only) (Tables)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Condensed Balance Sheets	RACKSPACE TECHNOLOGY, INC. (Parent Company Only) CONDENSED BALANCE SHEETS (In millions, except per share data) December 31, December 31, ASSETS Investment in subsidiaries of Parent $ 629.5 $ (154.5) Total assets $ 629.5 $ (154.5) LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Stockholders' equity (deficit): Preferred stock, $0.01 par value per share: 5.0 shares authorized; no shares issued or outstanding — — Common stock, $0.01 par value per share: 1,495.0 shares authorized; 215.7 and 220.5 shares issued; 212.6 and 217.4 shares outstanding, respectively 2.2 2.2 Additional paid-in capital 2,573.3 2,638.2 Accumulated other comprehensive income 71.4 60.3 Accumulated deficit (1,986.4) (2,824.2) Treasury stock, at cost; 3.1 shares held (31.0) (31.0) Total stockholders' equity (deficit) 629.5 (154.5) Total liabilities and stockholders' equity (deficit) $ 629.5 $ (154.5)
Schedule of Condensed Statement of Comprehensive Loss	RACKSPACE TECHNOLOGY, INC. (Parent Company Only) CONDENSED STATEMENTS OF COMPREHENSIVE LOSS Year Ended December 31, (In millions, except per share data) 2021 2022 2023 Equity in net losses in Parent's subsidiaries $ (218.3) $ (804.8) $ (837.8) Net loss and total comprehensive loss $ (218.3) $ (804.8) $ (837.8) Net loss per share Basic and diluted $ (1.05) $ (3.81) $ (3.89) Weighted average number of shares outstanding: Basic and diluted 208.0 211.2 215.3

Company Overview, Basis of Pr_4

Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies - Sale of Stock and Liquidity Overview (Details)			12 Months Ended
	Jan. 01, 2023 segment	Jan. 18, 2022 USD ($)	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Mar. 12, 2024	Feb. 28, 2021 USD ($)	Feb. 09, 2021 USD ($)	Dec. 01, 2020 USD ($)
Subsidiary or Equity Method Investee [Line Items]
Acquisitions, net of cash acquired			$ 0	$ 7,700,000	$ 0
Number of business units | segment	2
Number of reportable segments | segment	2		2
Number of operating segments | segment	2			2
Cash and cash equivalents			$ 196,800,000	$ 228,400,000	$ 272,800,000
5.375% Senior Notes | Senior notes
Subsidiary or Equity Method Investee [Line Items]
Aggregate principal amount									$ 550,000,000
Interest rate			5.375%	5.375%					5.375%
5.375% Senior Notes | Senior notes | Subsequent Event
Subsidiary or Equity Method Investee [Line Items]
Interest rate						5.375%
3.50% Senior Secured Notes | Senior notes
Subsidiary or Equity Method Investee [Line Items]
Aggregate principal amount							$ 550,000,000	$ 550,000,000
Interest rate				3.50%				3.50%
3.50% Senior Secured Notes | Senior notes | Subsequent Event
Subsidiary or Equity Method Investee [Line Items]
Interest rate						3.50%
Secured debt | Term Loan Facility | Line of Credit
Subsidiary or Equity Method Investee [Line Items]
Aggregate principal amount			$ 2,892,500,000
Revolving Credit Facility | Line of Credit
Subsidiary or Equity Method Investee [Line Items]
Maximum borrowing capacity			375,000,000
Revolving credit facility			$ 0
Just Analytics Pte. Ltd.
Subsidiary or Equity Method Investee [Line Items]
Percentage of business acquired		100%
Acquisitions, net of cash acquired		$ 7,700,000
Period of recognition of compensation costs		3 years

Company Overview, Basis of Pr_5

Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies - Subsequent Events (Details) - USD ($)		12 Months Ended
	Mar. 12, 2024	Dec. 31, 2023	Jun. 30, 2024	Dec. 31, 2022	Feb. 28, 2021	Feb. 09, 2021	Dec. 01, 2020
Subsequent Event
Subsequent Event [Line Items]
Amount of debt with extended maturity	$ 1,579,400,000
Principal amount repurchased and surrendered for cancellation	$ 375,000,000
Senior notes | Subsequent Event
Subsequent Event [Line Items]
Debt percent of total amount	64%
Line of Credit | Revolving Credit Facility
Subsequent Event [Line Items]
Maximum borrowing capacity		$ 375,000,000
3.50% Senior Secured Notes | Senior notes
Subsequent Event [Line Items]
Interest rate				3.50%		3.50%
Aggregate principal amount					$ 550,000,000	$ 550,000,000
Principal amount repurchased and surrendered for cancellation		36,300,000
3.50% Senior Secured Notes | Senior notes | Subsequent Event
Subsequent Event [Line Items]
Interest rate	3.50%
Debt instrument, repurchase amount	$ 331,400,000
Term Loan Facility | Senior notes | Forecast
Subsequent Event [Line Items]
Debt instrument, repurchase amount			$ 182,300,000
Term Loan Facility | Secured debt
Subsequent Event [Line Items]
Aggregate principal amount					$ 2,300,000,000	$ 2,300,000,000
Principal amount repurchased and surrendered for cancellation		$ 55,600,000
Term Loan Facility | Secured debt | Forecast
Subsequent Event [Line Items]
Debt instrument, repurchase amount			592,300,000
Term Loan Facility | Secured debt | Subsequent Event
Subsequent Event [Line Items]
Debt percent of total amount	72%
Debt instrument, repurchase amount	$ 1,588,800,000
FLSO | Senior notes | Subsequent Event
Subsequent Event [Line Items]
Interest rate	3.50%
Aggregate principal amount	$ 267,300,000
FLSO | Secured debt | Forecast
Subsequent Event [Line Items]
Aggregate principal amount			418,800,000
FLSO | Secured debt | Subsequent Event
Subsequent Event [Line Items]
Aggregate principal amount	1,312,000,000
FLFO | Senior notes | Forecast
Subsequent Event [Line Items]
Aggregate principal amount			$ 127,600,000
FLFO | Secured debt | Subsequent Event
Subsequent Event [Line Items]
Aggregate principal amount	$ 275,000,000
5.375% Senior Notes | Senior notes
Subsequent Event [Line Items]
Interest rate		5.375%		5.375%			5.375%
Aggregate principal amount							$ 550,000,000
Principal amount repurchased and surrendered for cancellation		$ 352,400,000
5.375% Senior Notes | Senior notes | Subsequent Event
Subsequent Event [Line Items]
Interest rate	5.375%
Debt instrument, repurchase amount	$ 69,300,000
New Revolving Credit Facility | Line of Credit | Subsequent Event | Revolving Credit Facility
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 375,000,000

Company Overview, Basis of Pr_6

Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies - Cash, Cash Equivalents, Restricted Cash and Property, Equipment and Software and Definite-Lived Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Restricted cash	$ 2.9	$ 3
Interest costs capitalized	$ 0.8	0.4	$ 0.6
OpenStack Public Cloud
Property, Plant and Equipment [Line Items]
Non-cash impairment charges		$ 37.7

Company Overview, Basis of Pr_7

Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies - Estimated Useful Lives (Details)	Dec. 31, 2023
Computers and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Computers and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Software
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	7 years
Buildings and leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	2 years
Buildings and leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	39 years

Company Overview, Basis of Pr_8

Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies - Goodwill and Intangible Assets and Investments (Details) $ in Millions							3 Months Ended				9 Months Ended	12 Months Ended
	Oct. 01, 2023 USD ($)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jan. 01, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Sep. 01, 2022 USD ($)	Dec. 31, 2023 USD ($) reportingUnit	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 reportingUnit	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of business units | segment				2
Impairment of goodwill	$ 0											$ 708.8	$ 534.5	$ 52.4
Number of reporting units | reportingUnit							2				2
Equity investment without readily determinable fair value					$ 5.1		$ 5.1		$ 5.1			5.1	5.1
Apps & Cross Platform
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Impairment of goodwill									$ 129.3			0	129.3
Private Cloud
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Impairment of goodwill			$ 272.3	$ 270.8				$ 165.7				708.8	0
Multicloud Services
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Impairment of goodwill										$ 405.2		0	405.2
Trade name (indefinite-lived)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Impairment of assets		$ 57			$ 12	$ 21						$ 57	$ 33

Company Overview, Basis of Pr_9

Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies - Leases (Details)	Dec. 31, 2023
Minimum | Data Centers
Lessee, Lease, Description [Line Items]
Operating lease, lease term	1 year
Minimum | Equipment
Lessee, Lease, Description [Line Items]
Operating lease, lease term	3 years
Minimum | Office Space
Lessee, Lease, Description [Line Items]
Operating lease, lease term	1 year
Maximum | Data Centers
Lessee, Lease, Description [Line Items]
Operating lease, lease term	20 years
Maximum | Equipment
Lessee, Lease, Description [Line Items]
Operating lease, lease term	5 years
Maximum | Office Space
Lessee, Lease, Description [Line Items]
Operating lease, lease term	10 years

Company Overview, Basis of P_10

Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies - Revenue (Details)	12 Months Ended
	Dec. 31, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Expected service delivery period	30 months
Private Cloud | Minimum
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue recognition period	12 months
Private Cloud | Maximum
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue recognition period	36 months

Company Overview, Basis of P_11

Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies - Selling, General and Administrative Expense and Impairment Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Advertising expense	$ 27.6	$ 34.4	$ 33.6
Research and development expense	$ 43.7	$ 24.5	$ 28.3

Company Overview, Basis of P_12

Company Overview, Basis of Presentation, and Summary of Significant Accounting Policies - Foreign Currency (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Translation losses	$ 3.9	$ (10.1)	$ (3.3)

Customer Contracts - Schedule o

Customer Contracts - Schedule of Balances Related to Customer Contracts (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 339.7	$ 622.2	$ 554.3
Current portion of contract assets	10.7	16	15.2
Non-current portion of contract assets	8.6	10.4	13.1
Current portion of deferred revenue	78.8	80.9	98.6
Non-current portion of deferred revenue	5.3	8.6	13.6
Allowance for doubtful accounts and accrued customer credits	$ 20.1	$ 24.6	$ 18.4

Customer Contracts - Allowance

Customer Contracts - Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 18.4	$ 13.7	$ 16.2
Additions	9.2	11	5.4
Write-offs of Accounts Receivables, Net of Recoveries	(13.4)	(6.3)	(7.9)
Ending Balance	$ 14.2	$ 18.4	$ 13.7

Customer Contracts - Narrative

Customer Contracts - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Sep. 27, 2022
Capitalized Contract Cost [Line Items]
Revenue recognized included in deferred revenue	$ 80,900,000	$ 98,600,000	$ 76,700,000
Convertible Note Receivable
Capitalized Contract Cost [Line Items]
Note receivable, principal amount				$ 15,000,000
Investment interest rate				6%
Convertible Note Receivable | Other non-current assets
Capitalized Contract Cost [Line Items]
Fair value of note receivable	12,800,000	11,800,000
Cost To Obtain A Contract
Capitalized Contract Cost [Line Items]
Capitalized contract cost, net	42,000,000	55,800,000
Cost To Fulfill A Contract
Capitalized Contract Cost [Line Items]
Capitalized contract cost, net	$ 13,400,000	$ 17,700,000

Customer Contracts - Schedule_2

Customer Contracts - Schedule of Amortization of Capitalized Contract Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Amortization of capitalized sales commissions
Capitalized Contract Cost [Line Items]
Capitalized contract cost, amortization	$ 38.1	$ 43.7	$ 43.7
Amortization of capitalized implementation costs
Capitalized Contract Cost [Line Items]
Capitalized contract cost, amortization	$ 13	$ 16.4	$ 18.1

Customer Contracts - Remaining

Customer Contracts - Remaining Performance Obligations (Details) $ in Millions	Dec. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 448.9
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 obligation expected to be recognized, percentage	69%
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year

Sale of Receivables (Details)

Sale of Receivables (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Sep. 29, 2023
Debt Instrument [Line Items]
Aggregate maximum limit of accounts receivable		$ 300
Expense	$ 10.6
Loss on sale	6
Transaction costs	4.6
Sold receivables derecognized	223.8
Rackspace Receivables II, LLC , Special Purpose Vehicle (SPV)
Debt Instrument [Line Items]
Unsold receivables retained	$ 125.6

Net Loss Per Share - Computatio

Net Loss Per Share - Computation of Basic and Diluted Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Basic and diluted net loss per share:
Net income (loss) attributable to common stockholders, basic	$ (837.8)	$ (804.8)	$ (218.3)
Net income (loss) attributable to common stockholders, diluted	$ (837.8)	$ (804.8)	$ (218.3)
Weighted average shares outstanding:
Common stock (in shares)	215.3	211.2	208
Number of shares used in per share computations (in shares)	215.3	211.2	208
Net income (loss) per share, basic (in dollars per share)	$ (3.89)	$ (3.81)	$ (1.05)
Net income (loss) per share, diluted (in dollars per share)	$ (3.89)	$ (3.81)	$ (1.05)

Net Loss Per Share - Narrative

Net Loss Per Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Anti-dilutive potential common shares excluded from computation of dilutive net income (loss) per share (in shares)	38.6	23.3	19.2

Property, Equipment and Softw_3

Property, Equipment and Software, net - Schedule of Property, Equipment, and Software, net (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, equipment and software, at cost	$ 2,034	$ 2,013.4
Less: Accumulated depreciation	(1,442.1)	(1,400.3)
Property, equipment and software, net	608.8	628.3
Computers and equipment
Property, Plant and Equipment [Line Items]
Property, equipment and software, at cost	1,154.9	1,131.2
Software
Property, Plant and Equipment [Line Items]
Property, equipment and software, at cost	452.8	464.2
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, equipment and software, at cost	14.5	15.8
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, equipment and software, at cost	411.8	402.2
Work in process
Property, Plant and Equipment [Line Items]
Work in process	$ 16.9	$ 15.2

Property, Equipment and Softw_4

Property, Equipment and Software, net - Narrative (Details) - USD ($) $ in Millions		1 Months Ended	5 Months Ended	12 Months Ended
	Jan. 15, 2021	Jul. 31, 2023	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2023	Sep. 30, 2022	Jan. 14, 2021
Property, Plant and Equipment [Line Items]
Land available-for-sale									$ 11.4
Proceeds from sale of land	$ 32.2
Payments for brokerage fees and professional fees	0.9
Proceeds from sale of land held-for-use, net of brokerage and professional fees	$ 31.3
Gain on sale of land						$ 19.9
Total depreciation expense				$ 208.7	$ 220.9	245.1
Property, Plant, and Equipment and Finance Lease Right of Use Asset
Property, Plant and Equipment [Line Items]
Total depreciation expense				208.7	220.9	$ 245.1
Corporate Headquarters Facility
Property, Plant and Equipment [Line Items]
Property, equipment, net			$ 16.9	16.9	12.1		$ 20.7	$ 82.7
Impairment of long-lived assets to be disposed of				3.8	70.6
Purchase price		$ 21.5
Impairment reversal				$ 8.6
Consideration adjustment			$ 17.5
OpenStack Public Cloud
Property, Plant and Equipment [Line Items]
Property equipment and software impairment charges					$ 15.3

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes in Carrying Amounts of Goodwill by Reportable Segment (Details) $ in Millions				3 Months Ended				12 Months Ended
	Oct. 01, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jan. 01, 2023 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)
Goodwill [Line Items]
Number of reportable segments | segment			2					2
Number of operating segments | segment			2						2
Goodwill, Gross					$ 3,037		$ 3,054.2	$ 2,161.2	$ 3,037	$ 3,054.2
Less: Accumulated impairment charges					(881.9)		(347.4)	(708.8)	(881.9)	(347.4)
Goodwill [Roll Forward]
Goodwill, beginning balance			$ 2,155.1					2,155.1	2,706.8
Just Analytics acquisition									5.9
Impairment of goodwill	$ 0							(708.8)	(534.5)	(52.4)
Foreign currency translation								6.1	(23.1)
Reallocation adjustment								0
Goodwill, ending balance					2,155.1		2,706.8	1,452.4	2,155.1	2,706.8
Previously Reported
Goodwill [Line Items]
Goodwill, Gross								3,043.1
Less: Accumulated impairment charges								(1,590.7)
Public Cloud
Goodwill [Line Items]
Goodwill, Gross					0		0	597.7	0	0
Less: Accumulated impairment charges					0		0	0	0	0
Goodwill [Roll Forward]
Goodwill, beginning balance			0					0	0
Just Analytics acquisition									0
Impairment of goodwill								0	0
Foreign currency translation								3	0
Reallocation adjustment								594.7
Goodwill, ending balance					0		0	597.7	0	0
Private Cloud
Goodwill [Line Items]
Goodwill, Gross					0		0	1,563.5	0	0
Less: Accumulated impairment charges					0		0	(708.8)	0	0
Goodwill [Roll Forward]
Goodwill, beginning balance			0					0	0
Just Analytics acquisition									0
Impairment of goodwill		$ (272.3)	(270.8)	$ (165.7)				(708.8)	0
Foreign currency translation								3.1	0
Reallocation adjustment								1,560.4
Goodwill, ending balance					0		0	854.7	0	0
Multicloud Services
Goodwill [Line Items]
Goodwill, Gross					2,656.6		2,679.3	0	2,656.6	2,679.3
Less: Accumulated impairment charges					(700.2)		(295)	0	(700.2)	(295)
Goodwill [Roll Forward]
Goodwill, beginning balance			1,956.4					1,956.4	2,384.3
Just Analytics acquisition									0
Impairment of goodwill						$ (405.2)		0	(405.2)
Foreign currency translation								0	(22.7)
Reallocation adjustment								(1,956.4)
Goodwill, ending balance					1,956.4		2,384.3	0	1,956.4	2,384.3
Apps & Cross Platform
Goodwill [Line Items]
Goodwill, Gross					328		322.5	0	328	322.5
Less: Accumulated impairment charges					(129.3)		0	0	(129.3)	0
Goodwill [Roll Forward]
Goodwill, beginning balance			198.7					198.7	322.5
Just Analytics acquisition									5.9
Impairment of goodwill					(129.3)			0	(129.3)
Foreign currency translation								0	(0.4)
Reallocation adjustment								(198.7)
Goodwill, ending balance					198.7		322.5	0	198.7	322.5
OpenStack Public Cloud
Goodwill [Line Items]
Goodwill, Gross					52.4		52.4	0	52.4	52.4
Less: Accumulated impairment charges					(52.4)		(52.4)	0	(52.4)	(52.4)
Goodwill [Roll Forward]
Goodwill, beginning balance			$ 0					0	0
Just Analytics acquisition									0
Impairment of goodwill							(52.4)	0	0
Foreign currency translation								0	0
Reallocation adjustment								0
Goodwill, ending balance					$ 0		$ 0	$ 0	$ 0	$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions							3 Months Ended				12 Months Ended
	Oct. 01, 2023	Sep. 30, 2023	Mar. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Sep. 01, 2022	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Line Items]
Impairment of goodwill	$ 0										$ 708.8	$ 534.5	$ 52.4
Accumulated goodwill impairment charges					$ 881.9			$ 881.9		$ 347.4	708.8	$ 881.9	347.4
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]												Assets Impairment Charges, Excluding Goodwill
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]												Assets Impairment Charges, Excluding Goodwill
Amortization of intangible assets											161	$ 166.8	179.7
Property tax abatement
Goodwill [Line Items]
Impairment of intangible assets												4.8
Trade name (indefinite-lived)
Goodwill [Line Items]
Impairment of assets		$ 57			12	$ 21					57	33
Private Cloud
Goodwill [Line Items]
Impairment of goodwill			$ 272.3	$ 270.8			$ 165.7				708.8	0
Accumulated goodwill impairment charges					0			0		0	708.8	0	0
Multicloud Services
Goodwill [Line Items]
Impairment of goodwill									$ 405.2		0	405.2
Accumulated goodwill impairment charges					700.2			700.2		295	0	700.2	295
Apps & Cross Platform
Goodwill [Line Items]
Impairment of goodwill								129.3			0	129.3
Accumulated goodwill impairment charges					129.3			129.3		0	0	129.3	0
OpenStack Public Cloud
Goodwill [Line Items]
Impairment of goodwill										52.4	0	0
Accumulated goodwill impairment charges					$ 52.4			$ 52.4		$ 52.4	$ 0	52.4	$ 52.4
Impairment of intangible assets												$ 22.4

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Intangible Assets Other Than Goodwill (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 1,959.8	$ 1,956.2
Accumulated amortization	(1,100.8)	(937.2)
Net carrying amount	859	1,019
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross carrying amount	2,119.8	2,173.2
Accumulated amortization	(1,100.8)	(937.2)
Net carrying amount	1,019	1,236
Trade name (indefinite-lived)
Indefinite-lived Intangible Assets [Line Items]
Trade name (indefinite-lived)	160	217
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,932	1,928.5
Accumulated amortization	(1,073.9)	(914.9)
Net carrying amount	858.1	1,013.6
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	(1,073.9)	(914.9)
Other
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	27.8	27.7
Accumulated amortization	(26.9)	(22.3)
Net carrying amount	0.9	5.4
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	$ (26.9)	$ (22.3)

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Future Amortization of Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 154.4
2025	146.8
2026	123.9
2027	117.3
2028	117.3
Thereafter	199.3
Net carrying amount	$ 859	$ 1,019

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Feb. 28, 2021	Feb. 09, 2021	Dec. 01, 2020
Debt Instrument [Line Items]
Amount	$ 2,892,500,000
Less: unamortized debt issuance costs	(21,400,000)	$ (30,700,000)
Less: unamortized debt discount	(8,500,000)	(10,700,000)
Total debt	2,862,600,000	3,318,400,000
Less: current portion of debt	(23,000,000)	(23,000,000)
Debt, excluding current portion	2,839,600,000	$ 3,295,400,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving Credit Facility	$ 0
Term Loan Facility | Secured debt
Debt Instrument [Line Items]
Effective interest rate	8.23%	7.38%
Amount	$ 2,181,200,000	$ 2,259,800,000
Senior Facilities | Secured debt
Debt Instrument [Line Items]
Amount	2,181,200,000
Senior Facilities | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving Credit Facility	0
3.50% Senior Secured Notes
Debt Instrument [Line Items]
Less: unamortized debt issuance costs			$ (6,800,000)
3.50% Senior Secured Notes | Senior notes
Debt Instrument [Line Items]
Amount	513,700,000	$ 550,000,000
Interest rate		3.50%		3.50%
5.375% Senior Notes | Senior notes
Debt Instrument [Line Items]
Amount	$ 197,600,000	$ 550,000,000
Interest rate	5.375%	5.375%			5.375%

Debt - Narrative (Details)

Debt - Narrative (Details)					1 Months Ended	12 Months Ended			80 Months Ended
	Mar. 12, 2024 USD ($)	Apr. 26, 2023	Feb. 09, 2021 USD ($)	Dec. 01, 2020 USD ($)	Feb. 28, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Feb. 15, 2028 USD ($)	Mar. 19, 2020 USD ($)
Debt Instrument [Line Items]
Repayments of long-term debt						$ 241,900,000	$ 23,000,000	$ 2,877,900,000
Gain (loss) on debt extinguishment						271,300,000	0	(37,500,000)
Principal balance						2,892,500,000
Unamortized debt issuance costs						21,400,000	$ 30,700,000
Loan modification fee					$ 27,600,000
Subsequent Event
Debt Instrument [Line Items]
Principal amount repurchased and surrendered for cancellation	$ 375,000,000
One- Month Duration Term
Debt Instrument [Line Items]
Debt instrument, basis spread credit adjustment		0.11%
Three- Month Duration Term
Debt Instrument [Line Items]
Debt instrument, basis spread credit adjustment		0.26%
Six- Months Duration Term
Debt Instrument [Line Items]
Debt instrument, basis spread credit adjustment		0.43%
Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.50%
SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1%
Secured debt
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate floor		0.75%
Interest payment period (not exceed)		90 days
Debt Instrument, unamortized discount and debt issuance costs					9,400,000
Secured debt | SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.75%
Secured debt | Base rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.75%
Line of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount						3,500,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity						375,000,000
Debt instrument, basis spread on variable rate floor		1%
Unused commitment fee percentage			0.50%
Borrowings from long-term lines of credit						50,000,000
Revolving credit facility						0
Total borrowing capacity						$ 375,000,000
Line of Credit | Revolving Credit Facility | SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		3%
Line of Credit | Revolving Credit Facility | Base rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2%
Term Loan Facility | Secured debt
Debt Instrument [Line Items]
Debt instrument, term			7 years
Aggregate principal amount			$ 2,300,000,000		2,300,000,000
Effective interest rate						8.23%	7.38%
Principal amount repurchased and surrendered for cancellation						$ 55,600,000
Repayments of long-term debt						29,500,000
Gain (loss) on debt extinguishment						25,500,000
Write-off of associated unamortized deferred financing fees						600,000
Fair value of debt						935,300,000
Principal balance						2,181,200,000	$ 2,259,800,000
Debt Instrument, unamortized discount and debt issuance costs					41,000,000
Term Loan Facility | Secured debt | Forecast
Debt Instrument [Line Items]
Quarterly principal payment									$ 5,800,000
3.50% Senior Secured Notes
Debt Instrument [Line Items]
Gain (loss) on debt extinguishment					(37,000,000)
Unamortized debt issuance costs					6,800,000
3.50% Senior Secured Notes | Senior notes
Debt Instrument [Line Items]
Aggregate principal amount			$ 550,000,000		550,000,000
Interest rate			3.50%				3.50%
Principal amount repurchased and surrendered for cancellation						36,300,000
Repayments of long-term debt						18,400,000
Debt instrument, increase, accrued interest						300,000
Gain (loss) on debt extinguishment						17,900,000
Write-off of associated unamortized deferred financing fees						300,000
Fair value of debt						204,200,000
Redemption period			12 months
Principal balance						513,700,000	$ 550,000,000
3.50% Senior Secured Notes | Senior notes | Subsequent Event
Debt Instrument [Line Items]
Interest rate	3.50%
3.50% Senior Secured Notes | Senior notes | Related Party
Debt Instrument [Line Items]
Interest rate			3.50%
3.50% Senior Secured Notes | Senior notes | From February 15, 2024 to February 14, 2025
Debt Instrument [Line Items]
Redemption price, percentage			101.75%
3.50% Senior Secured Notes | Senior notes | From February 15, 2025 to February 14, 2026
Debt Instrument [Line Items]
Redemption price, percentage			100.875%
3.50% Senior Secured Notes | Senior notes | From February 15, 2026 and thereafter
Debt Instrument [Line Items]
Redemption price, percentage			100%
3.50% Senior Secured Notes | Senior notes | Commencing with February 9, 2021
Debt Instrument [Line Items]
Redemption price, percentage			103%
Percent of redeemable debt			10%
3.50% Senior Secured Notes | Senior notes | Upon change of control
Debt Instrument [Line Items]
Redemption price, percentage			101%
Senior Facilities | Secured debt
Debt Instrument [Line Items]
Principal balance						2,181,200,000
Senior Facilities | Secured debt | Affiliates of ABRY | Related Party
Debt Instrument [Line Items]
Principal balance						$ 58,400,000
Percentage of debt due to related party						2.70%
Senior Facilities | Secured debt | Apollo Global Management Inc | Related Party
Debt Instrument [Line Items]
Principal balance						$ 24,200,000
Percentage of debt due to related party						1.10%
Senior Facilities | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, leverage ratio, maximum			5
Debt instrument, covenant, undrawn letters of credit and cash collateralized letters of credit excluded from threshold trigger			$ 25,000,000
Debt instrument, covenant, percentage of outstanding borrowings trigger, minimum			35%
Revolving credit facility						$ 0
5.375% Senior Notes | Senior notes
Debt Instrument [Line Items]
Aggregate principal amount				$ 550,000,000
Interest rate				5.375%		5.375%	5.375%
Principal amount repurchased and surrendered for cancellation						$ 352,400,000
Repayments of long-term debt						124,100,000
Debt instrument, increase, accrued interest						2,800,000
Gain (loss) on debt extinguishment						227,900,000
Write-off of associated unamortized deferred financing fees						3,200,000
Fair value						68,900,000
Principal balance						$ 197,600,000	$ 550,000,000
5.375% Senior Notes | Senior notes | Subsequent Event
Debt Instrument [Line Items]
Interest rate	5.375%
5.375% Senior Notes | Senior notes | Upon change of control
Debt Instrument [Line Items]
Redemption price, percentage				101%
5.375% Senior Notes | Senior notes | December 1, 2023 to November 30, 2024
Debt Instrument [Line Items]
Redemption price, percentage				102.688%
5.375% Senior Notes | Senior notes | December 1, 2024 to December 1, 2025
Debt Instrument [Line Items]
Redemption price, percentage				101.344%
5.375% Senior Notes | Senior notes | December 1, 2025 and thereafter
Debt Instrument [Line Items]
Redemption price, percentage				100%
Receivables Financing Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Repayments of lines of credit								50,000,000
Receivables Financing Facility | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity										$ 100,000,000
Gain (loss) on debt extinguishment								(500,000)
Payments on long-term debt								$ 15,000,000
Prior Term Loan Facility | Secured debt
Debt Instrument [Line Items]
Principal balance					$ 2,795,600,000

Debt - Maturities (Details)

Debt - Maturities (Details) $ in Millions	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 23
2025	23
2026	23
2027	23
2028	2,800.5
Thereafter	0
Total debt	$ 2,892.5

Leases - Property and Equipment

Leases - Property and Equipment Under Finance Leases (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Less: Accumulated depreciation	$ (124.2)	$ (140)
Net book value of property and equipment under finance leases	325.8	338.4
Computers and equipment
Lessee, Lease, Description [Line Items]
Property and equipment under finance leases	159.7	192.5
Building
Lessee, Lease, Description [Line Items]
Property and equipment under finance leases	$ 290.3	$ 285.9

Leases - Cost (Details)

Leases - Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating lease expense:
Fixed lease expense	$ 63.3	$ 58.1	$ 62.2
Variable lease expense	21.7	17.9	18.8
Short-term lease expense	1.2	0.7	0.4
Sublease income	(0.8)	(2.4)	(2.6)
Total operating lease expense	85.4	74.3	78.8
Finance lease expense:
Depreciation of finance lease assets	55.8	51.2	46.3
Interest expense on finance lease liabilities	26.6	23.5	28.2
Total finance lease expense	$ 82.4	$ 74.7	$ 74.5

Leases - Cash Flow (Details)

Leases - Cash Flow (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash payments for lease liabilities included within operating activities:
Operating leases	$ (80.2)	$ (73.3)	$ (78.4)
Finance leases	(29.2)	(26.7)	(26.9)
Operating leases:
New lease assets obtained in exchange for lease liabilities	43.1	17.3	18.6
Modified/renewed lease assets obtained in exchange for lease liabilities	15.5	23.2	38.5
Total lease assets obtained in exchange for lease liabilities	$ 58.6	$ 40.5	$ 57.1

Leases - Supplemental Informati

Leases - Supplemental Information (Details)	Dec. 31, 2023	Dec. 31, 2022
Weighted average remaining lease term (in years)
Operating leases	4 years	3 years
Finance leases	11 years	12 years
Weighted average discount rate
Operating leases	6.50%	6.30%
Finance leases	7.20%	7%

Leases - Maturity (Details)

Leases - Maturity (Details) $ in Millions	Dec. 31, 2023 USD ($)
Operating leases
2024	$ 73.8
2025	31.3
2026	19.2
2027	13.8
2028	6
Thereafter	11.8
Total future lease payments	155.9
Less amount representing interest	(15.3)
Total lease liability	140.6
Finance leases
2024	78.3
2025	61
2026	32.1
2027	30.9
2028	31.6
Thereafter	306.7
Total future lease payments	540.6
Less amount representing interest	(176.8)
Total lease liability	363.8
Financing lease undiscounted amount	$ 38.3
Lease term	11 years

Financing Obligations - Narrati

Financing Obligations - Narrative (Details)	Dec. 31, 2023
Debt Disclosure [Abstract]
Weighted average imputed interest rate for financing obligations	7.90%

Financing Obligations - Future

Financing Obligations - Future Payments Under Financing Obligations (Details) $ in Millions	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 17.5
2025	18.6
2026	12.5
2027	3.5
2028	3.1
Thereafter	18.2
Total future payments	73.4
Plus amount representing residual asset balance	12.8
Less amount representing interest	(19.8)
Total financing obligations	$ 66.4

Commitments and Contingencies -

Commitments and Contingencies - Purchase Commitments (Details) $ in Millions	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 617.9
2025	409.7
2026	316.7
2027	76.2
2028	23.1
Thereafter	51.6
Total	$ 1,495.2

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Hosted Exchange Incident
Other Commitments [Line Items]
Loss contingency, loss in period	$ 5.2	$ 5.9
Loss contingency, receivable, proceeds	10
Loss contingency, receivable	3.3
Indemnification Agreement
Other Commitments [Line Items]
Liability	$ 0	$ 0

July 2021 Restructuring Plan -

July 2021 Restructuring Plan - Narrative (Details) - July 2021 Restructuring Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023	Jul. 21, 2021
Restructuring Cost and Reserve [Line Items]
Percent of workforce to be terminated				10%
Total restructuring charges	$ 0	$ 19.8
Total expected costs to be incurred	$ 0		$ 0
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Total restructuring charges		25.4
Selling, general and administrative expenses | Asset Write-Offs And Contract Termination
Restructuring Cost and Reserve [Line Items]
Total restructuring charges		$ 5.6

July 2021 Restructuring Plan _2

July 2021 Restructuring Plan - Restructuring Charges (Details) - July 2021 Restructuring Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 0	$ 19.8
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Total restructuring charges		25.4
Employee related costs
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	0	13.8
Employee related costs | Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Total restructuring charges		13.8
Other
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 0	6
Other | Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Total restructuring charges		$ 11.6

July 2021 Restructuring Plan _3

July 2021 Restructuring Plan - Restructuring Reserves by Type of Cost (Details) - July 2021 Restructuring Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 7.7	$ 0
Charges	0	19.8
Cash payments	(7.7)	(12.1)
Restructuring reserve, ending balance	0	7.7
Total cumulative costs incurred as of December 31, 2022	19.8
Employee related costs
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	7.1	0
Charges	0	13.8
Cash payments	(7.1)	(6.7)
Restructuring reserve, ending balance	0	7.1
Total cumulative costs incurred as of December 31, 2022	13.8
Other
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	0.6	0
Charges	0	6
Cash payments	(0.6)	(5.4)
Restructuring reserve, ending balance	0	$ 0.6
Total cumulative costs incurred as of December 31, 2022	$ 6

Stockholders' Equity (Details)

Stockholders' Equity (Details)			12 Months Ended
	Feb. 02, 2021 USD ($) day $ / shares shares	Sep. 06, 2017 shares	Dec. 31, 2023 vote classOfStock shares	Dec. 31, 2022 USD ($) shares	Mar. 03, 2022 USD ($)
Class of Stock [Line Items]
Common stock, shares issued (in shares)			220,500,000	215,700,000
Common stock, shares outstanding (in shares)			217,400,000	212,600,000
Number of common stock classes | classOfStock			1
Number of votes per share | vote			1
Preferred stock, shares authorized (in shares)			5,000,000	5,000,000
Preferred stock, shares outstanding (in shares)			0	0
Preferred stock, shares issued (in shares)			0	0
Stock repurchase program, authorized amount | $					$ 75,000,000
Treasury stock value | $				$ 31,000,000
Repurchase of common stock (in shares)			0	3,100,000
DataPipe
Class of Stock [Line Items]
Shares of stock issued and sold in public offering (in shares)	2,665,935
Additional consideration | $	$ 0
MOIC threshold, maximum	3
Threshold trading days | day	30
Threshold stock price (in dollars per share) | $ / shares	$ 25
Additional shares issuable (in shares)	2,665,935
Maximum | DataPipe
Class of Stock [Line Items]
Shares of stock issued and sold in public offering (in shares)		10,663,741

Share-Based Compensation and _3

Share-Based Compensation and Employee Benefit Plans - Narrative (Details) $ / shares in Units, $ in Millions		1 Months Ended	12 Months Ended
	Aug. 07, 2020	Aug. 31, 2021 qtr shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Apr. 21, 2023 shares	Apr. 20, 2022 shares	Apr. 30, 2017 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)			38,300,000
Shares available for future grants (in shares)			14,100,000
Options granted in period (in shares)			0	0	0
Unrecognized compensation cost, stock options | $			$ 0.2
Pre-tax share-based compensation expense | $			65.4	$ 69.5	$ 75.4
Plan modification, incremental cost | $			0.6	2	0.8
Contribution expense | $			$ 16.3	15.7	15.2
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period			10 years
Vesting period			3 years
Intrinsic value of stock options exercised | $				$ 0.1	$ 35
Unrecognized compensation cost, period for recognition			1 year
Options | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			5 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Unrecognized compensation cost, period for recognition			1 year 10 months 24 days
Number of shares granted in period (in shares)			31,300,000
Weighted average grant date fair value, RSUs granted during period (in usd per share) | $ / shares			$ 2.15	$ 8.70	$ 17.80
Intrinsic value of restricted stock released | $			$ 9.5	$ 30.7	$ 35.2
Unrecognized compensation cost | $			$ 74.8
Restricted Stock Units (RSUs) | Executive Officer | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Restricted Stock Units (RSUs) | Executive Officer | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				5 years
RSAs | Board member | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period					1 year
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants (in shares)		600,000
Vesting period		3 years
Lag period in quarters | qtr		4
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Number of shares granted in period (in shares)			2,800,000	2,600,000
Long-Term Incentive Cash Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period (in shares)			5,500,000
Weighted average grant date fair value, RSUs granted during period (in usd per share) | $ / shares			$ 0.61
2017 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for issuance (in shares)								12,200,000
2020 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for issuance (in shares)				50,000,000		57,900,000	25,000,000
2020 Incentive Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Number of shares granted in period (in shares)			28,500,000	11,100,000
Weighted average grant date fair value, RSUs granted during period (in usd per share) | $ / shares			$ 2.17	$ 8.68
ESPP | Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for issuance (in shares)			8,900,000
Unrecognized compensation cost | $			$ 0
Purchase price of common stock, percentage	0.85%
Shares issued under ESPP (in shares)			700,000	800,000	700,000
Pre-tax share-based compensation expense | $			$ 0.9	$ 1.9	$ 4.5

Share-Based Compensation and _4

Share-Based Compensation and Employee Benefit Plans - Equity Awards Outstanding (Details) - shares shares in Millions	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total outstanding awards (in shares)	38.3	23
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock (in shares)	34.5	13.7
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options (in shares)	3.8	9.3

Share-Based Compensation and _5

Share-Based Compensation and Employee Benefit Plans - Stock Option Activity (Details) - Options - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of Shares (in millions)
Beginning balance, shares outstanding (in shares)	9.3
Granted (in shares)	0
Exercised (in shares)	0
Forfeited (in shares)	(1.5)
Expired (in shares)	(4)
Ending balance, shares outstanding (in shares)	3.8	9.3
Number of Shares, Vested and exercisable (in shares)	3.6
Number of Shares, Vested and exercisable and expected to vest thereafter (in shares)	3.8
Weighted Average Exercise Price
Beginning balance (in usd per share)	$ 12.65
Granted (in usd per share)	0
Exercised (in usd per share)	0
Forfeited (in usd per share)	12.06
Expired (in usd per share)	12.51
Ending balance (in usd per share)	13.04	$ 12.65
Weighted Average Exercise Price, Vested and exercisable (in usd per share)	13.07
Weighted Average Exercise Price, Vested and exercisable and expected to vest thereafter (in usd per share)	$ 13.04
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted Average-Remaining Contractual Life	5 years 2 months 15 days	3 years 10 months 6 days
Weighted Average-Remaining Contractual Life, Vested and exercisable	5 years 2 months 4 days
Weighted Average-Remaining Contractual Life, Vested and exercisable and expected to vest thereafter	5 years 2 months 15 days
Aggregate Intrinsic Value, Outstanding	$ 0	$ 0
Aggregate Intrinsic Value, Vested and exercisable	0
Aggregate Intrinsic Value, Vested and exercisable and expected to vest thereafter	$ 0

Share-Based Compensation and _6

Share-Based Compensation and Employee Benefit Plans - Fair Value Assumptions (Details) - Phantom Share Units (PSUs)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected stock volatility, minimum	69%	54%
Expected stock volatility, maximum	72%	63%
Expected dividend yield	0%	0%
Risk-free interest rate, minimum	3.76%	2.32%
Risk-free interest rate, maximum	3.78%	4.34%

Share-Based Compensation and _7

Share-Based Compensation and Employee Benefit Plans - Restricted Stock Activity (Details) - Restricted Stock Units (RSUs) - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Number of Units or Shares (in millions)
Outstanding, beginning balance (in shares)	13.7
Granted (in shares)	31.3
Released (in shares)	(4.6)
Cancelled (in shares)	(5.9)
Outstanding, ending balance (in shares)	34.5	13.7
Number of Units or Shares, Expected to vest (in shares)	34.5
Weighted Average Grant-Date Fair Value
Outstanding, beginning balance (in usd per share)	$ 9.96
Granted (in usd per share)	2.15	$ 8.70	$ 17.80
Released (in usd per share)	11.07
Cancelled (in usd per share)	5.09
Outstanding, ending balance (in usd per share)	3.57	$ 9.96
Weighted Average Grant-Date Fair Value, Expected to vest (in usd per share)	$ 3.57

Share-Based Compensation and _8

Share-Based Compensation and Employee Benefit Plans - Schedule of Share Based Compensation Expense Equity and Liability Awards Amounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 65.4	$ 69.5	$ 75.4
Equity classified awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	64.6	69.5	75.4
Liability classified awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 0.8	$ 0	$ 0

Share-Based Compensation and _9

Share-Based Compensation and Employee Benefit Plans - Share-based Compensation Expense Recognized (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax share-based compensation expense	$ 65.4	$ 69.5	$ 75.4
Less: Income tax benefit	(13.7)	(14.6)	(15.8)
Total share-based compensation expense, net of tax	51.7	54.9	59.6
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax share-based compensation expense	9.1	11.6	16.7
Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax share-based compensation expense	$ 56.3	$ 57.9	$ 58.7

Taxes - Benefit for Income Taxe

Taxes - Benefit for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal	$ 0.2	$ 0.2	$ (0.3)
Foreign	18.1	11.4	5.6
State	7	4.3	5.4
Total current	25.3	15.9	10.7
Deferred:
Federal	(34.3)	(81.7)	(26.1)
Foreign	(8.4)	(6.7)	(14.3)
State	0.8	(20.4)	(1.1)
Total deferred	(41.9)	(108.8)	(41.5)
Total benefit for income taxes	$ (16.6)	$ (92.9)	$ (30.8)

Taxes - Loss Before Income Taxe

Taxes - Loss Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Contingency [Line Items]
Total loss before income taxes	$ (854.4)	$ (897.7)	$ (249.1)
U.S.
Income Tax Contingency [Line Items]
Total loss before income taxes	(678.4)	(819.6)	(204.9)
Foreign
Income Tax Contingency [Line Items]
Total loss before income taxes	$ (176)	$ (78.1)	$ (44.2)

Taxes - Statutory Federal Tax R

Taxes - Statutory Federal Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Statutory federal tax rate	21%	21%	21%
State taxes, net of federal benefit	0.30%	1.60%	(0.30%)
Tax rate differentials for international jurisdictions	2.50%	(1.10%)	0.40%
Research and development credit	0%	0%	(0.40%)
Effects of other enacted tax law and rate changes	(3.00%)	0.10%	(0.30%)
Valuation allowance	(0.80%)	(0.10%)	(0.70%)
Share-based compensation	(1.10%)	(0.60%)	0.10%
Nondeductible compensation	(0.80%)	(0.70%)	(2.50%)
Tax impact of goodwill impairment	(15.90%)	(9.90%)	(4.40%)
Other, net	(0.30%)	0%	(0.50%)
Effective tax rate	1.90%	10.30%	12.40%

Taxes - Deferred Tax Assets and

Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Share-based compensation	$ 13.9	$ 15.3
Accruals not currently deductible	13.3	17.4
Finance lease liabilities	90.4	64.7
Net operating loss carryforwards	31.3	56.8
Foreign tax credit	16.9	33.7
Research and development credits	30.5	29.4
Depreciation and amortization	4	4.2
Disallowed interest carryforward	77.4	43.8
Operating lease liabilities	28.6	35.5
Other	19.1	20.2
Total gross deferred tax assets	325.4	321
Valuation allowance	(66.1)	(58.5)	$ (58.3)	$ (54.4)
Total net deferred tax assets	259.3	262.5
Deferred tax liabilities:
Depreciation and amortization	265.1	294.9
Finance lease liabilities	6.6	7.2
Capitalized costs	8.7	11.7
Interest rate swaps	21.8	32.2
Operating right-of-use assets	22.7	31.8
Other	6.9	5.4
Total gross deferred tax liabilities	331.8	383.2
Net deferred tax liabilities	$ 72.5	$ 120.7

Taxes - Narrative (Details)

Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	$ 31.3	$ 56.8
Tax credit carryforward	58
Disallowed interest carryforward	77.4	43.8
Unrecognized tax benefits that would favorably impact effective tax rate	47	41.6	$ 37.8
Accrued interest and penalties	6.6	$ 4.4	$ 3.5
U.S.
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	3.8
Disallowed interest carryforward	312.6
Foreign
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	111.7
Operating loss carryforward, subject to expiration	13.5
Operating loss carryforward, not subject to expiration	$ 98.2
Foreign | Minimum
Tax Credit Carryforward [Line Items]
Carryforward period	5 years
Foreign | Maximum
Tax Credit Carryforward [Line Items]
Carryforward period	20 years

Taxes - Schedule of Changes to

Taxes - Schedule of Changes to Valuation Allowances (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred Tax Assets, Valuation Allowance [Roll Forward]
Balance at January 1,	$ 58.5	$ 58.3	$ 54.4
Additions charged to income tax expense	39.2	1.6	3.9
Reductions credited to income tax expense	(31.6)	(1.4)	0
Balance at December 31,	$ 66.1	$ 58.5	$ 58.3

Taxes - Unrecognized Tax Benefi

Taxes - Unrecognized Tax Benefits Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance, beginning of period	$ 57	$ 52.4	$ 51
Additions based on tax positions related to the current year	12.6	10.9	9
Additions for tax positions of prior years	0.9	0.3	15.9
Reduction for statute expiration	(4.8)	(4.7)	(16.7)
Reductions for tax positions of prior years	(2.1)	(1.9)	(6.2)
Settlements	0	0	(0.6)
Balance, end of period	$ 63.6	$ 57	$ 52.4

Derivatives - Narrative (Detail

Derivatives - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	May 09, 2023	Nov. 30, 2021 contract	Feb. 12, 2021 USD ($)	Jan. 31, 2021 USD ($)	Jan. 09, 2020 USD ($)	Dec. 31, 2016 instrument
Derivative [Line Items]
Accumulated other comprehensive loss	$ (60,300,000)	$ (71,400,000)
Interest expense	221,600,000	208,500,000	$ 205,100,000
Cash flow hedge losses expected to be reclassified as an increase to interest expense over the next twelve months	49,300,000
Derivatives designated as hedging instruments
Derivative [Line Items]
Liabilities	37,600,000	56,400,000
Interest Rate Swap
Derivative [Line Items]
Liabilities	37,600,000	56,400,000
Notional amount	1,350,000,000	1,350,000,000				$ 900,000,000
Accumulated other comprehensive loss							$ 51,600,000
Fixed interest rate						2.382%
Interest Rate Swap | LIBOR
Derivative [Line Items]
Derivative, floor interest rate						0.75%
Interest Rate Swap | Three- Month LIBOR
Derivative [Line Items]
Derivative, floor interest rate						0.75%
Interest Rate Swap | SOFR
Derivative [Line Items]
Derivative, floor interest rate				0.75%		0.75%
Interest Rate Swap | Cash Flow Hedging | Derivatives designated as hedging instruments
Derivative [Line Items]
Liabilities								$ 39,900,000
Receive Fixed Interest Rate Swap
Derivative [Line Items]
Notional amount						$ 900,000,000
Number of derivative instruments | instrument									2
Pay-Fixed interest rate swap
Derivative [Line Items]
Notional amount						$ 1,350,000,000
Interest Rate Swap
Derivative [Line Items]
Notional amount	$ 1,350,000,000	$ 1,350,000,000
Fixed interest rate	2.3415%			2.3415%		2.382%
Foreign Currency Net Zero Cost Collar Contract - Entered In November 2019
Derivative [Line Items]
Number of derivative instruments | contract					2

Derivatives - Interest Rate Swa

Derivatives - Interest Rate Swaps Outstanding (Details) - USD ($)	Dec. 31, 2023	May 09, 2023	Dec. 31, 2022	Feb. 12, 2021
Interest rate swaps
Derivative [Line Items]
Fixed Rate Paid (Received)				2.382%
Notional Amount	$ 1,350,000,000		$ 1,350,000,000	$ 900,000,000
Interest Rate Swap - Entered in December 2016
Derivative [Line Items]
Fixed Rate Paid (Received)			1.904%
Notional Amount	0		$ 0
Interest Rate Swap - Entered in December 2016
Derivative [Line Items]
Fixed Rate Paid (Received)			1.904%
Notional Amount	0		$ 0
Interest Rate Swap - Entered in December 2018
Derivative [Line Items]
Fixed Rate Paid (Received)			2.749%
Notional Amount	0		$ 0
Interest Rate Swap - Entered in December 2018
Derivative [Line Items]
Fixed Rate Paid (Received)			2.735%
Notional Amount	0		$ 0
Interest Rate Swap - Entered in December 2018
Derivative [Line Items]
Fixed Rate Paid (Received)			2.736%
Notional Amount	0		$ 0
Interest Rate Swap - Entered in December 2018
Derivative [Line Items]
Fixed Rate Paid (Received)			2.78%
Notional Amount	0		$ 0
Interest Rate Swap - Entered in February 2021
Derivative [Line Items]
Fixed Rate Paid (Received)			(1.904%)
Notional Amount	$ 0		$ 0
Interest Rate Swap - Entered in February 2021
Derivative [Line Items]
Fixed Rate Paid (Received)	2.3415%	2.3415%		2.382%
Notional Amount	$ 1,350,000,000		$ 1,350,000,000

Derivatives - Schedule of Fair

Derivatives - Schedule of Fair Values of Derivatives on the Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Interest rate swaps
Derivatives, Fair Value [Line Items]
Assets	$ 83.8	$ 124.8
Liabilities	37.6	56.4
Derivatives designated as hedging instruments
Derivatives, Fair Value [Line Items]
Assets	83.8	124.8
Liabilities	37.6	56.4
Derivatives designated as hedging instruments | Other current assets | Interest rate swaps
Derivatives, Fair Value [Line Items]
Assets	47	44.3
Liabilities	0	0
Derivatives designated as hedging instruments | Other non-current assets | Interest rate swaps
Derivatives, Fair Value [Line Items]
Assets	36.8	80.5
Liabilities	0	0
Derivatives designated as hedging instruments | Other current liabilities | Interest rate swaps
Derivatives, Fair Value [Line Items]
Assets	0	0
Liabilities	17.3	17.3
Derivatives designated as hedging instruments | Other non-current liabilities | Interest rate swaps
Derivatives, Fair Value [Line Items]
Assets	0	0
Liabilities	$ 20.3	$ 39.1

Derivatives - Derivatives Prese

Derivatives - Derivatives Presented on a Net Asset and Net Liability basis (Details) - Interest rate swaps - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Assets
Gross Amounts on Balance Sheet	$ 83.8	$ 124.8
Effects of Counterparty Netting	(37.6)	(56.4)
Net Amounts	46.2	68.4
Liabilities
Gross Amounts on Balance Sheet	37.6	56.4
Effects of Counterparty Netting	(37.6)	(56.4)
Net Amounts	$ 0	$ 0

Derivatives - Effect of Derivat

Derivatives - Effect of Derivatives on the Consolidated Statements of Comprehensive Income (Loss) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Nov. 30, 2021 contract
Foreign Currency Net Zero Cost Collar Contract - Entered In November 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of derivative instruments | contract				2
Interest income (expense) | Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments	$ (15.5)	$ (18.5)	$ (19.1)
Derivatives designated as hedging instruments	55.5	11.9	(6.2)
Other income (expense), net | Foreign currency contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments	$ 0	$ 0	$ 2.1

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 629.5	$ 1,327.4	$ 1,383.7
Foreign currency translation adjustments, net of tax (benefit) expense	8	(27.2)	(3.6)
Unrealized gain on derivative contracts, net of expense	10.8	86.9	11.5
Amount reclassified from Accumulated comprehensive income (loss) into earnings, net of tax benefit (expense)	(29.9)	4.8	17.6
Ending balance	(154.5)	629.5	1,327.4
Foreign currency translation adjustments, tax	1	(2.3)	(0.6)
Unrealized gain on derivative contracts, tax	3.8	30	3.9
Tax benefit, reclassification from AOCI	(10.3)	(1.6)	(6)
Interest expense	221.6	208.5	205.1
Reclassification out of Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Interest expense	55.6	12.1	6.4
Amortization of off-market swap	15.5	18.5	17.1
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	71.4	6.9	(18.6)
Ending balance	60.3	71.4	6.9
Accumulated Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(10)	17.2	20.8
Foreign currency translation adjustments, net of tax (benefit) expense	8	(27.2)	(3.6)
Unrealized gain on derivative contracts, net of expense	0	0	0
Amount reclassified from Accumulated comprehensive income (loss) into earnings, net of tax benefit (expense)	0	0	0
Ending balance	(2)	(10)	17.2
Accumulated Gain (Loss) on Derivative Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	81.4	(10.3)	(39.4)
Foreign currency translation adjustments, net of tax (benefit) expense	0	0	0
Unrealized gain on derivative contracts, net of expense	10.8	86.9	11.5
Amount reclassified from Accumulated comprehensive income (loss) into earnings, net of tax benefit (expense)	(29.9)	4.8	17.6
Ending balance	$ 62.3	$ 81.4	$ (10.3)

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	Feb. 09, 2021	Feb. 02, 2021	Dec. 31, 2022
Datapipe Parent Inc
Related Party Transaction [Line Items]
Shares of stock issued and sold in public offering (in shares)		2,665,935
3.50% Senior Secured Notes | Senior notes
Related Party Transaction [Line Items]
Interest rate	3.50%		3.50%
3.50% Senior Secured Notes | Related Party | Senior notes
Related Party Transaction [Line Items]
Interest rate	3.50%
Apollo Global Securities, LLC | Arranger Fees | Related Party
Related Party Transaction [Line Items]
Transaction amount	$ 2.3
Apollo Global Securities, LLC | 3.50% Senior Secured Notes | Related Party | Senior notes
Related Party Transaction [Line Items]
Transaction amount	$ 0.6

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details) - segment		12 Months Ended
	Jan. 01, 2023	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting [Abstract]
Number of business units	2
Number of operating segments	2		2
Number of reportable segments	2	2

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Revenue and Gross Profits from Segments to Consolidated (Details) - USD ($) $ in Millions				3 Months Ended	12 Months Ended
	Oct. 01, 2023	Mar. 31, 2023	Jan. 01, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue					$ 2,957.1	$ 3,122.3	$ 3,009.5
Loss from operations					(899.4)	(679)	(2.5)
Share-based compensation expense					(65.4)	(69.5)	(75.4)
Amortization of intangible assets					(161)	(166.8)	(179.7)
Impairment of goodwill	$ 0				(708.8)	(534.5)	(52.4)
UK office closure					(12.1)	0	0
Impairment of assets, net					(52.2)	(146.1)	0
Gain on sale of land					0	0	19.9
Interest expense					(221.6)	(208.5)	(205.1)
Gain (loss) on investments, net					0.3	(0.2)	(3)
Debt modification costs and gain (loss) on debt extinguishment					271.3	0	(37.5)
Other expense, net					(5)	(10)	(1)
Total consolidated loss before income taxes					(854.4)	(897.7)	(249.1)
July 2021 Restructuring Plan
Segment Reporting, Revenue Reconciling Item [Line Items]
Total restructuring charges						0	19.8
Other restructuring costs						5.2	25.1
July 2021 Restructuring Plan | Employee related costs
Segment Reporting, Revenue Reconciling Item [Line Items]
Total restructuring charges						0	13.8
Selling, general and administrative expenses
Segment Reporting, Revenue Reconciling Item [Line Items]
Share-based compensation expense					(56.3)	(57.9)	(58.7)
Selling, general and administrative expenses | July 2021 Restructuring Plan
Segment Reporting, Revenue Reconciling Item [Line Items]
Total restructuring charges							25.4
Selling, general and administrative expenses | July 2021 Restructuring Plan | Employee related costs
Segment Reporting, Revenue Reconciling Item [Line Items]
Total restructuring charges							13.8
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Loss from operations					431.2	618.8	724.4
Corporate And Reconciling Items
Segment Reporting, Revenue Reconciling Item [Line Items]
Loss from operations					247.8	255	240.3
Share-based compensation expense					(65.4)	(69.5)	(75.4)
Special bonuses and other compensation expense					(12.1)	(10)	(11.8)
Transaction related adjustments, net					(5.2)	(11)	(25.7)
Restructuring and transformation expenses					(70.8)	(99)	(161.5)
Hosted Exchange incident expenses, net of proceeds received or expected to be received under our insurance coverage					4.8	(5.9)	0
Public Cloud
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue					1,747.4	1,740.8	1,471.3
Impairment of goodwill					0	0
Public Cloud | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Loss from operations					90.4	124.9	120.1
Private Cloud
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue					1,209.7	1,381.5	1,538.2
Impairment of goodwill		$ (272.3)	$ (270.8)	$ (165.7)	(708.8)	0
Private Cloud | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Loss from operations					$ 340.8	$ 493.9	$ 604.3

Segment Reporting - Schedule of

Segment Reporting - Schedule of Depreciation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue, Major Customer [Line Items]
Total depreciation expense	$ 208.7	$ 220.9	$ 245.1
Public Cloud
Revenue, Major Customer [Line Items]
Total depreciation expense	9.2	8.2	8.4
Private Cloud
Revenue, Major Customer [Line Items]
Total depreciation expense	171.3	170.2	189.9
Corporate functions
Revenue, Major Customer [Line Items]
Total depreciation expense	$ 28.2	$ 42.5	$ 46.8

Segment Reporting - Geographic

Segment Reporting - Geographic Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 2,957.1	$ 3,122.3	$ 3,009.5
Property, equipment and software, net	608.8	628.3
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	2,181.4	2,341.7	2,253.4
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	2,035.6	2,209.2	2,157
Property, equipment and software, net	478.4	487.9
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	620	626.6	632.9
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	484.5	521.6	542.3
Property, equipment and software, net	109	116.7
APJ
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	155.7	154	123.2
Other Foreign Countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	437	391.5	$ 310.2
Property, equipment and software, net	$ 21.4	$ 23.7

Condensed Financial Informati_3

Condensed Financial Information of Registrant (Parent Company Only) - Condensed Balance Sheets (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Total assets	$ 4,096.2	$ 5,456.7
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock, $0.01 par value per share: 5.0 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.01 par value per share: 1,495.0 shares authorized; 215.7 and 220.5 shares issued; 212.6 and 217.4 shares outstanding, respectively	2.2	2.2
Additional paid-in capital	2,638.2	2,573.3
Accumulated other comprehensive income	60.3	71.4
Accumulated deficit	(2,824.2)	(1,986.4)
Treasury stock, at cost; 3.1 shares held	(31)	(31)
Total stockholders' equity (deficit)	(154.5)	629.5	$ 1,327.4	$ 1,383.7
Total liabilities and stockholders' equity (deficit)	$ 4,096.2	$ 5,456.7
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,495,000,000	1,495,000,000
Common stock, shares issued (in shares)	220,500,000	215,700,000
Common stock, shares outstanding (in shares)	217,400,000	212,600,000
Treasury stock, at cost (in shares)	3,100,000
Parent Company
ASSETS
Investment in subsidiaries of Parent	$ (154.5)	$ 629.5
Total assets	(154.5)	629.5
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock, $0.01 par value per share: 5.0 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.01 par value per share: 1,495.0 shares authorized; 215.7 and 220.5 shares issued; 212.6 and 217.4 shares outstanding, respectively	2.2	2.2
Additional paid-in capital	2,638.2	2,573.3
Accumulated other comprehensive income	60.3	71.4
Accumulated deficit	(2,824.2)	(1,986.4)
Treasury stock, at cost; 3.1 shares held	(31)	(31)
Total stockholders' equity (deficit)	(154.5)	629.5
Total liabilities and stockholders' equity (deficit)	$ (154.5)	$ 629.5
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,495,000,000	1,495,000,000
Common stock, shares issued (in shares)	220,500,000	215,700,000
Common stock, shares outstanding (in shares)	217,400,000	212,600,000
Treasury stock, at cost (in shares)	3,100,000

Condensed Financial Informati_4

Condensed Financial Information of Registrant (Parent Company Only) - Condensed Statements of Comprehensive Loss (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Condensed Statement of Income Captions [Line Items]
Net loss	$ (837.8)	$ (804.8)	$ (218.3)
Net loss per share
Basic (in dollars per share)	$ (3.89)	$ (3.81)	$ (1.05)
Diluted (in dollars per share)	$ (3.89)	$ (3.81)	$ (1.05)
Weighted average number of shares outstanding:
Basic (in shares)	215.3	211.2	208
Diluted (in shares)	215.3	211.2	208
Parent Company
Condensed Statement of Income Captions [Line Items]
Net loss	$ (837.8)	$ (804.8)	$ (218.3)
Net loss per share
Basic (in dollars per share)	$ (3.89)	$ (3.81)	$ (1.05)
Diluted (in dollars per share)	$ (3.89)	$ (3.81)	$ (1.05)
Weighted average number of shares outstanding:
Basic (in shares)	215.3	211.2	208
Diluted (in shares)	215.3	211.2	208