Equinix (EQIX) 10-Q5 May 232023 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2023	May 04, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-40205
Entity Registrant Name	EQUINIX, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0487526
Entity Address, Address Line One	One Lagoon Drive
Entity Address, City or Town	Redwood City
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94065
City Area Code	650
Local Phone Number	598-6000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		93,523,257
Entity Central Index Key	0001101239
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock, $0.001
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.001
Trading Symbol	EQIX
Security Exchange Name	NASDAQ
0.250% Senior Notes due 2027
Document Information [Line Items]
Title of 12(b) Security	0.250% Senior Notes due 2027
Security Exchange Name	NASDAQ
No Trading Symbol Flag	true
1.000% Senior Notes due 2033
Document Information [Line Items]
Title of 12(b) Security	1.000% Senior Notes due 2033
Security Exchange Name	NASDAQ
No Trading Symbol Flag	true

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 2,642,578	$ 1,906,421
Accounts receivable, net of allowance of $13,259 and $12,225	913,413	855,380
Other current assets	437,155	459,138
Assets held for sale	0	84,316
Total current assets	3,993,146	3,305,255
Property, plant and equipment, net	16,913,734	16,649,534
Operating lease right-of-use assets	1,403,716	1,427,950
Goodwill	5,712,063	5,654,217
Intangible assets, net	1,859,655	1,897,649
Other assets	1,391,884	1,376,137
Total assets	31,274,198	30,310,742
Current liabilities:
Accounts payable and accrued expenses	933,290	1,004,800
Accrued property, plant and equipment	287,911	281,347
Current portion of operating lease liabilities	141,558	139,538
Current portion of finance lease liabilities	155,447	151,420
Current portion of mortgage and loans payable	9,869	9,847
Other current liabilities	226,077	251,346
Total current liabilities	1,754,152	1,838,298
Operating lease liabilities, less current portion	1,240,071	1,272,812
Finance lease liabilities, less current portion	2,105,130	2,143,690
Mortgage and loans payable, less current portion	653,235	642,708
Senior notes, less current portion	12,707,851	12,109,539
Other liabilities	784,900	797,863
Total liabilities	19,245,339	18,804,910
Commitments and contingencies (Note 11)
Equinix stockholders' equity:
Common stock, $0.001 par value per share: 300,000,000 shares authorized; 93,691,925 issued and 93,514,718 outstanding in 2023 and 92,813,976 issued and 92,620,703 outstanding in 2022	94	93
Additional paid-in capital	17,795,701	17,320,017
Treasury stock, at cost; 177,207 shares in 2023 and 193,273 shares in 2022	(65,988)	(71,966)
Accumulated dividends	(7,639,195)	(7,317,570)
Accumulated other comprehensive loss	(1,285,188)	(1,389,446)
Retained earnings	3,223,624	2,964,838
Total Equinix stockholders' equity	12,029,048	11,505,966
Non-controlling interests	(189)	(134)
Total stockholders' equity	12,028,859	11,505,832
Total liabilities and stockholders' equity	$ 31,274,198	$ 30,310,742

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance	$ 13,259	$ 12,225
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common sock, shares authorized (shares)	300,000,000	300,000,000
Common stock, shares issued (shares)	93,691,925	92,813,976
Common stock, shares outstanding (shares)	93,514,718	92,620,703
Treasury stock (shares)	177,207	193,273

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenues	$ 1,998,209	$ 1,734,447
Costs and operating expenses:
Cost of revenues	1,006,091	915,875
Sales and marketing	210,671	192,511
General and administrative	394,874	352,687
Transaction costs	1,600	4,240
Loss on asset sales	852	1,818
Total costs and operating expenses	1,614,088	1,467,131
Income from operations	384,121	267,316
Interest income	19,388	2,106
Interest expense	(97,481)	(79,965)
Other income (expense)	7,503	(9,549)
Gain on debt extinguishment	254	529
Income before income taxes	313,785	180,437
Income tax expense	(55,055)	(32,744)
Net income	258,730	147,693
Net (income) loss attributable to non-controlling interests	56	(240)
Net income attributable to Equinix	$ 258,786	$ 147,453
Earnings per share ("EPS") attributable to Equinix:
Basic EPS (in dollars per share)	$ 2.78	$ 1.62
Weighted-average shares for basic EPS (in shares)	92,971	90,771
Diluted EPS (in dollars per share)	$ 2.77	$ 1.62
Weighted-average shares for diluted EPS (in shares)	93,340	91,162

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 258,730	$ 147,693
Other comprehensive income, net of tax:
Foreign currency translation adjustment ("CTA") gain (loss), net of tax effects of $0 and $0	157,214	(122,534)
Net investment hedge CTA gain (loss), net of tax effects of $0 and $0	(39,960)	91,358
Unrealized gain (loss) on cash flow hedges, net of tax effects of $6,076 and $(4,727)	(12,881)	64,037
Net actuarial loss on defined benefit plans, net of tax effects of $26 and $4	(115)	(21)
Total other comprehensive income, net of tax	104,258	32,840
Comprehensive income, net of tax	362,988	180,533
Net (income) loss attributable to non-controlling interests	56	(240)
Other comprehensive (income) attributable to non-controlling interests	0	(3)
Comprehensive income attributable to Equinix	$ 363,044	$ 180,290

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment ("CTA")loss, net of tax	$ 0	$ 0
Net investment hedge CTA gain, net of tax	0	0
Unrealized gain on cash flow hedges, net of tax	6,076	(4,727)
Net actuarial gain (loss) on defined benefit plans, net of tax	$ 26	$ 4

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income	$ 258,730	$ 147,693
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	404,626	385,771
Stock-based compensation	98,715	89,952
Amortization of intangible assets	52,474	49,569
Amortization of debt issuance costs and debt discounts and premiums	4,590	4,204
Provision for credit loss allowance	2,891	3,406
Loss on asset sales	852	1,818
Gain on debt extinguishment	(254)	(529)
Other items	3,949	3,690
Changes in operating assets and liabilities:
Accounts receivable	(53,392)	(100,727)
Income taxes, net	4,991	13,881
Other assets	(129)	6,115
Operating lease right-of-use assets	34,766	35,400
Operating lease liabilities	(33,587)	(31,740)
Accounts payable and accrued expenses	(72,765)	(75,980)
Other liabilities	(15,049)	48,600
Net cash provided by operating activities	691,408	581,123
Cash flows from investing activities:
Purchases of investments	(24,393)	(38,558)
Real estate acquisitions	(40,397)	(3,074)
Purchases of other property, plant and equipment	(529,600)	(412,518)
Proceeds from sale of assets, net of cash transferred	72,254	195,391
Net cash used in investing activities	(522,136)	(258,759)
Cash flows from financing activities:
Proceeds from employee equity awards	44,543	43,876
Payment of dividends	(326,162)	(289,669)
Proceeds from public offering of common stock, net of issuance costs	300,775	0
Proceeds from senior notes, net of debt discounts	565,239	0
Proceeds from mortgage and loans payable	0	676,850
Repayments of finance lease liabilities	(35,498)	(40,773)
Repayments of mortgage and loans payable	(2,403)	(551,833)
Debt issuance costs	(4,257)	(7,366)
Net cash provided by (used in) financing activities	542,237	(168,915)
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash	23,883	4,593
Net increase in cash, cash equivalents and restricted cash	735,392	158,042
Cash, cash equivalents and restricted cash at beginning of period	1,908,248	1,549,454
Cash, cash equivalents and restricted cash at end of period	2,643,640	1,707,496
Cash and cash equivalents	2,642,578	1,695,305
Current portion of restricted cash included in other current assets	967	11,295
Non-current portion of restricted cash included in other assets	95	896
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows	$ 2,643,640	$ 1,707,496

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
Basis of Presentation and Significant Accounting Policies	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by Equinix, Inc. (collectively with its consolidated subsidiaries referred to as "Equinix," the "Company," "we," "our," or "us") and reflect all adjustments, consisting only of normal recurring adjustments, which in the opinion of management are necessary to fairly state the financial position and the results of operations for the interim periods presented. Our condensed consolidated balance sheet data as of December 31, 2022 has been derived from audited consolidated financial statements as of that date. Our condensed consolidated financial statements have been prepared in accordance with the regulations of the Securities and Exchange Commission ("SEC"), but omit certain information and footnote disclosure necessary to present the statements in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP" or "GAAP"). For further information, refer to the Consolidated Financial Statements and Notes thereto included in our Form 10-K as filed with the SEC on February 17, 2023. Results for the interim periods are not necessarily indicative of results for the entire fiscal year. Consolidation The accompanying unaudited condensed consolidated financial statements include the acquisitions of: • Four data centers as well as a subsea cable and terrestrial fiber network in West Africa acquired from MainOne Cable Company ("MainOne") from April 1, 2022; and • Four data centers in Chile and a data center in Peru acquired from Empresa Nacional De Telecomunicaciones S.A. ("Entel") from May 2, 2022 and August 1, 2022, respectively. All intercompany accounts and transactions have been eliminated in consolidation. Income Taxes We elected to be taxed as a real estate investment trust for U.S. federal income tax purposes ("REIT") beginning with our 2015 taxable year. As a result, we may deduct the dividends paid to our stockholders from taxable income generated by our REIT and qualified REIT subsidiaries ("QRSs"). Our dividends paid deduction generally eliminates the U.S. federal taxable income of our REIT and QRSs, resulting in no U.S. federal income tax due. However, our domestic taxable REIT subsidiaries ("TRSs") are subject to U.S. corporate income taxes on any taxable income generated by them. In addition, our foreign operations are subject to local income taxes regardless of whether the foreign operations are operated as QRSs or TRSs. We accrue for income taxes during interim periods based on the estimated effective tax rate for the year. The effective tax rate is subject to change in the future due to various factors such as our operating performance, tax law changes and future business acquisitions. Our effective tax rates were 17.6% and 18.2% for the three months ended March 31, 2023 and 2022, respectively. Recent Accounting Pronouncements Accounting Standards Adopted Supplier Finance Programs In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2022-04, "Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations". This guidance requires annual and interim disclosures for entities that use supplier finance programs in connection with the purchase of goods and services. The ASU is effective for fiscal years beginning after December 15, 2022, with early adoption permitted, except for the amendment on roll forward information, which is effective for fiscal years beginning after December 15, 2023. We adopted this ASU and the adoption of this standard did not have an impact on our condensed consolidated financial statements. Reference Rate Reform In March 2020, FASB issued ASU 2020-04, Reference Rate Reform ("Topic 848"): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. In addition, FASB issued ASU 2021-01, Reference Rate Reform ("Topic 848"), which clarifies the scope of Topic 848. Collectively, the guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. ASU 2021-01 is effective upon issuance and ASU 2020-04 was effective for all entities as of March 12, 2020, and together remained effective through December 31, 2022. In December 2022, FASB issued ASU 2022-06, Reference Rate Reform ("Topic 848"): Deferral of the Sunset Date of Topic 848. Because the current relief in Topic 848 may not cover a period of time during which a significant number of modifications may take place, the amendments in this Update defer the sunset date of Topic 848 from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. We adopted these ASUs upon their respective issuances and there was no impact on our consolidated financial statements as a result of adopting the guidance. We will evaluate our debt, derivative and lease contracts that may become eligible for modification relief and may apply the elections prospectively as needed. Debt with Conversion and Other Options In August 2020, FASB issued ASU 2020-06: Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). The ASU simplifies the accounting for convertible instruments by reducing the number of accounting models for convertible debt instruments and convertible preferred stock and modifies the disclosure requirement for the convertible instruments. Additionally, this ASU improves the consistency of EPS calculations by eliminating the use of the treasury stock method to calculate diluted EPS for convertible instruments and clarifies certain areas under the current EPS guidance. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021, with early adoption permitted at the beginning of the fiscal year after December 15, 2020. On January 1, 2022, we adopted this ASU on a prospective basis and the adoption of this standard did not have a material impact on our condensed consolidated financial statements. Business Combinations

Revenue

Revenue	3 Months Ended
Revenue	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Contract Balances The following table summarizes the opening and closing balances of our accounts receivable, net; contract assets, current; contract assets, non-current; deferred revenue, current; and deferred revenue, non-current (in thousands): Accounts receivable, net (1) Contract assets, current Contract assets, non-current Deferred revenue, current Deferred revenue, non-current Beginning balances as of January 1, 2023 $ 855,380 $ 27,608 $ 55,405 $ 132,090 $ 155,334 Closing balances as of March 31, 2023 913,413 28,619 72,269 129,378 153,039 Increase (Decrease) $ 58,033 $ 1,011 $ 16,864 $ (2,712) $ (2,295) (1) The net change in our allowance for credit losses was insignificant during the three months ended March 31, 2023. The difference between the opening and closing balances of our accounts receivable, net, contract assets and deferred revenues primarily results from revenue growth and the timing difference between the satisfaction of our performance obligation and the customer's payment. The amount of revenue recognized during the three months ended March 31, 2023 from the opening deferred revenue balance as of January 1, 2023 was $36.8 million. Remaining performance obligations As of March 31, 2023, approximately $9.9 billion of total revenues, including deferred installation revenues, are expected to be recognized in future periods. Most of our revenue contracts have an initial term varying from one three The remaining performance obligations do not include variable consideration related to unsatisfied performance obligations such as the usage of metered power, point-in-time services, variable price increases, and service fees from xScale TM data centers, which are calculated based on future events or actual costs incurred in the future, or any contracts that could be terminated without any significant penalties such as the majority of interconnection revenues. The remaining performance obligations above include revenues to be recognized in the future related to arrangements where we are considered the lessor.

Earnings Per Share

Earnings Per Share	3 Months Ended
Earnings Per Share	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share ("EPS") for the periods presented (in thousands, except per share amounts): Three Months Ended 2023 2022 Net income $ 258,730 $ 147,693 Net (income) loss attributable to non-controlling interests 56 (240) Net income attributable to Equinix $ 258,786 $ 147,453 Weighted-average shares used to calculate basic EPS 92,971 90,771 Effect of dilutive securities: Employee equity awards 369 391 Weighted-average shares used to calculate diluted EPS 93,340 91,162 EPS attributable to Equinix: Basic EPS $ 2.78 $ 1.62 Diluted EPS $ 2.77 $ 1.62

Acquisitions

Acquisitions	3 Months Ended
Acquisitions	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions 2022 Acquisitions Acquisition of Entel Chile Data Centers (the "Entel Chile Acquisition") and Entel Peru Data Center (the "Entel Peru Acquisition") On May 2, 2022, we further expanded in Latin America through an acquisition of four data centers in Chile from Entel, a leading Chilean telecommunications provider, for a total purchase consideration of $638.3 million at the exchange rate in effect on that date. On August 1, 2022, we completed the acquisition of a data center in Peru from Entel for a total purchase consideration of $80.3 million at the exchange rate in effect on that date. The Entel Chile Acquisition and Entel Peru Acquisition support our ongoing expansion to meet customer demand in the Latin American market. Acquisition of MainOne (the "MainOne Acquisition") On April 1, 2022, we completed the acquisition of all outstanding shares of MainOne, which consisted of four data centers as well as a subsea cable and terrestrial fiber network. We acquired MainOne and its assets for a total purchase consideration of $278.4 million. The MainOne Acquisition supports our ongoing expansion to meet customer demand in the West African market. Purchase Price Allocation Each of the acquisitions noted above constitute a business under the accounting standard for business combinations and, therefore, were accounted for as business combinations using the acquisition method of accounting. Under this method, the total purchase price is allocated to the assets acquired and liabilities assumed measured at fair value on the date of acquisition, except where alternative measurement is required under GAAP. As of March 31, 2023, we had not completed the detailed valuation analysis to derive the fair value of assets acquired and liabilities assumed from the Entel Peru Acquisition as it relates to the related tax impacts; therefore, the purchase price allocation is based on provisional estimates and subject to continuing management analysis. A summary of the allocation of total purchase consideration is presented as follows (in thousands): Entel Chile MainOne Entel Peru Final Provisional Cash and cash equivalents $ — $ 33,026 $ — Accounts receivable — 9,431 — Other current assets 12,424 21,988 — Property, plant and equipment 81,132 239,583 13,423 Intangible assets 153,489 54,800 10,000 Goodwill 380,867 110,665 46,285 Deferred tax and other assets 12,090 5,879 10,801 Total assets acquired 640,002 475,372 80,509 Accounts payable and accrued liabilities (195) (18,525) — Other current liabilities (1) — (13,061) — Mortgage and loans payable — (25,944) — Deferred tax and other liabilities (1) (1,463) (139,492) (167) Net assets acquired $ 638,344 $ 278,350 $ 80,342 (1) For the MainOne Acquisition, other current liabilities includes $9.9 million of deferred revenue - current and the other liabilities includes $95.4 million of deferred revenue - non-current. Property, plant and equipment - The fair values of property, plant and equipment acquired from these three acquisitions were estimated by applying the cost approach, with the exception of land, which we estimated by applying the market approach. The key assumptions of the cost approach include replacement cost new, physical deterioration, functional and economic obsolescence, economic useful life, remaining useful life, age and effective age. Intangible assets - The following table presents certain information on the acquired intangible assets (in thousands): Intangible Assets Fair Value Estimated Useful Lives (Years) Weighted-average Estimated Useful Lives (Years) Discount Rate Entel Peru: Customer relationships (1) $ 10,000 15.0 15.0 7.0 % Entel Chile: Customer relationships (1) 153,489 12.0 - 15.0 14.0 8.5% - 9.5% MainOne: Customer relationships (1) 51,500 10.0 - 15.0 14.0 11.5 % Trade names (2) 3,300 5.0 5.0 11.5 % (1) The fair value was estimated by calculating the present value of estimated future operating cash flows generated from existing customers less costs to realize the revenue and/or by using benchmarking. The rates reflect the nature of the assets as they relate to the risk and uncertainty of the estimated future operating cash flows, as well as the risk of the country within which the acquired business operates. (2) The fair value of the MainOne trade name was estimated using the relief from royalty method under the income approach. We applied a relief from royalty rate of 1.0%. Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired and liabilities assumed. Goodwill is attributable to the workforce of the acquired business and the projected revenue increase expected to arise from future customers after the acquisition. Goodwill from the Entel Peru and Entel Chile acquisitions are attributable to the Americas region and are not expected to be amortizable for local tax purposes. Goodwill from the MainOne Acquisition is attributable to the EMEA region and is generally not deductible for local tax purposes.

Assets Held for Sale

Assets Held for Sale	3 Months Ended
Assets Held for Sale	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Assets Held for Sale	Assets Held for Sale In June 2021, we entered into an agreement to form a joint venture in the form of a limited liability partnership with GIC Private Limited, Singapore's sovereign wealth fund ("GIC"), to develop and operate additional xScale TM data centers in Europe and the Americas (the “EMEA 2 Joint Venture”). xScale data centers are engineered to meet the technical and operational requirements and price points of core hyperscale workload deployments and also offer access to our comprehensive suite of interconnection and edge solutions. The transaction was structured to close in phases over the course of two years, pending regulatory approval and other closing conditions. The assets and liabilities of the Warsaw 4 ("WA4") data center site, which were included within our EMEA region, were classified as held for sale as of June 30, 2021. In June 2022, we sold the WA4 data center in exchange for a total consideration of $61.5 million. We recognized an insignificant gain on the sale of the WA4 data center. In October 2021, we entered into an agreement to form a joint venture in the form of a limited liability partnership with PGIM Real Estate ("PGIM"), to develop and operate xScale data centers in Asia-Pacific (the "Asia-Pacific 2 Joint Venture"). The assets and liabilities of the Sydney 9 ("SY9") data center site, which were included within our Asia-Pacific region, were classified as held for sale as of September 30, 2021. Upon closing the joint venture in March 2022, we sold the SY9 data center in exchange for a total consideration of $201.3 million, which was comprised of $165.6 million of net cash proceeds, a 20% partnership interest in the Asia-Pacific 2 Joint Venture with a fair value of $29.8 million, and $5.9 million of receivables. We recognized an insignificant loss on the sale of the SY9 data center. In March 2022, we entered into an agreement to sell the Mexico 3 ("MX3") data center site in connection with the formation of a new joint venture with GIC (the "AMER 1 Joint Venture") to develop and operate xScale data centers in the Americas. The assets and liabilities of the MX3 data center, which were included within our Americas region, were classified as held for sale as of September 30, 2021. Upon closing of the joint venture in March 2023, we sold the MX3 data center in exchange for a total consideration of $75.1 million, which was comprised of $63.9 million of net cash proceeds, a 20% partnership interest in the AMER 1 Joint Venture with a fair value of $8.4 million, and $2.8 million of receivables. During the three months ended March 31, 2023, we recognized an insignificant loss on the sale of the MX3 data center.

Equity Method Investments

Equity Method Investments	3 Months Ended
Equity Method Investments	Mar. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Equity Method Investments We hold various equity method investments, primarily joint venture or partnership arrangements, in order to invest in certain entities that are in line with our business development objectives, including the development and operation of xScale data centers. Some of these xScale joint ventures are classified as Variable Interest Entities ("VIEs"), as discussed further below. The Asia-Pacific 1, Asia-Pacific 2, Asia-Pacific 3, EMEA 2, and AMER 1 Joint Ventures as noted below (the "VIE Joint Ventures") share a similar purpose, design and nature of assets. The following table summarizes our equity method investments (in thousands), which were included in other assets on the condensed consolidated balance sheets: Investee Ownership Percentage March 31, 2023 December 31, 2022 EMEA 1 Joint Venture with GIC 20% $ 154,954 $ 148,895 VIE Joint Ventures 20% 206,327 191,680 Other Various 10,714 7,570 Total $ 371,995 $ 348,145 Non - VIE Joint Venture EMEA 1 Joint Venture We invested in a joint venture in the form of a limited liability partnership with GIC (the "EMEA 1 Joint Venture"), to develop and operate xScale data centers in Europe. The EMEA 1 Joint Venture is not a VIE given that both equity investors' interests have the characteristics of a controlling financial interest and it is sufficiently capitalized to sustain its operations, requiring additional funding from its partners only when expanding operations. Our share of income and losses of equity method investments from this joint venture was insignificant for the three months ended March 31, 2023 and 2022 and was included in other income (expense) on the condensed consolidated statement of operations. We committed to make future equity contributions to the EMEA 1 Joint Venture for funding its future development. As of March 31, 2023, we had future equity contribution commitments of $7.9 million. VIE Joint Ventures We invested in joint ventures in the form of limited liability partnerships with GIC to develop and operate xScale data centers in Asia-Pacific (the "Asia-Pacific 1 Joint Venture") and in Europe and the Americas (the EMEA 2 Joint Venture, see Note 5 above). On March 11, 2022, we entered into the Asia-Pacific 2 Joint Venture with PGIM to develop and operate additional xScale data centers in Asia-Pacific (see Note 5 above). On April 6, 2022, we entered into a joint venture in the form of a limited liability partnership with GIC (the "Asia-Pacific 3 Joint Venture") to develop and operate additional xScale data centers in Seoul, Korea. Upon closing, we contributed $17.0 million in exchange for a 20% partnership interest in the joint venture. On March 10, 2023, we entered into the AMER 1 joint venture with GIC to develop and operate xScale data centers in the Americas (see Note 5 above). Upon closing, we contributed $8.4 million in exchange for a 20% partnership interest in the joint venture. The VIE Joint Ventures are considered VIEs because they do not have sufficient funds from operations to be self-sustaining. While we provide certain management services to their operations and earn fees for the performance of such services, the power to direct the activities of these joint ventures that most significantly impact economic performance is shared equally between us and either GIC or PGIM, as applicable. These activities include data center construction and operations, sales and marketing, financing, and real estate purchases or sales. Decisions about these activities require the consent of both Equinix and either GIC or PGIM, as applicable. We concluded that neither party is deemed to have predominant control over the VIE Joint Ventures and neither party is considered to be the primary beneficiary. During the three months ended March 31, 2023, our share of income and losses of equity method investments from these joint ventures was insignificant both individually and in the aggregate, and was included in other income (expense) on the condensed consolidated statement of operations. The following table summarizes our maximum exposure to loss related to the VIE Joint Ventures as of March 31, 2023 (in thousands): VIE Joint Ventures Equity Investment $ 206,327 Outstanding Receivables 13,594 Future Equity Contribution Commitments (1) 41,014 Maximum Future Payments under Debt Guarantees (2) 82,408 Total $ 343,343 (1) The joint ventures' partners are required to make additional equity contributions proportionately upon certain occurrences, such as a shortfall in capital necessary to complete certain construction phases or make interest payments on their outstanding debt. (2) In connection with our 20% equity investment in the EMEA 2 Joint Venture, we provided the lenders with our guarantees covering 20% of all payments of principal and interest due under EMEA 2 Joint Venture's credit facility agreements (see Note 11). Other Related Party Transactions We have lease arrangements and provide various services to the EMEA 1 Joint Venture and the VIE Joint Ventures (the "Joint Ventures") through multiple agreements, including sales and marketing, development management, facilities management, and asset management. These transactions are generally considered to have been negotiated at arm's length. The following table presents the revenues and expenses from these arrangements with the Joint Ventures in our condensed consolidated statements of operations (in thousands): Three Months Ended Related Party Nature of Transaction 2023 2022 EMEA 1 Joint Venture Revenues $ 7,041 $ 6,302 EMEA 1 Joint Venture Expenses (1) 1,657 4,328 VIE Joint Ventures Revenues 21,803 7,003 (1) Balances primarily consist of rent expenses for a 15-year sub-lease agreement with the EMEA 1 Joint Venture for a London data center. The following table presents the assets and liabilities from related party transactions with the Joint Ventures in our condensed consolidated balance sheets (in thousands): Related Party Balance Sheet Line Item March 31, 2023 December 31, 2022 EMEA 1 Joint Venture Receivables $ 23,645 $ 73,929 Contract Assets 7,367 7,261 Finance Lease Right of Use Assets 100,934 100,968 Other Liabilities and Payables 40,352 1,193 Other Liabilities and Payables - Construction Obligation (1) — 18,967 Deferred Revenue 17,818 15,470 Finance Lease Right of Use Liabilities 110,007 108,603 VIE Joint Ventures Receivables 13,594 19,935 Contract Assets 19,561 5,281 Deferred Revenue 2,916 — (1) The balance primarily relates to the obligation to pay for future construction for certain sites sold as a part of the EMEA 1 Joint Venture transaction.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
Derivatives and Hedging Activities	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities Derivatives Designated as Hedging Instruments Net Investment Hedges. We are exposed to the impact of foreign exchange rate fluctuations on the value of investments in our foreign subsidiaries whose functional currencies are other than the U.S. Dollar. In order to mitigate the impact of foreign currency exchange rates, we have entered into various foreign currency debt obligations, which are designated as hedges against our net investments in foreign subsidiaries. As of both March 31, 2023 and December 31, 2022, the total principal amounts of foreign currency debt obligations designated as net investment hedges was $1.5 billion. We also utilize cross-currency interest rate swaps, designated as net investment hedges, which effectively convert a portion of our U.S. dollar-denominated fixed-rate debt to foreign currency-denominated fixed-rate debt, to hedge the currency exposure associated with our net investment in our foreign subsidiaries. As of both March 31, 2023 and December 31, 2022, the total notional amount of cross-currency interest rate swaps, designated as net investment hedges was $3.9 billion, with maturity dates ranging through 2026. From time to time, we use foreign currency forward contracts, which are designated as net investment hedges, to hedge against the effect of foreign exchange rate fluctuations on our net investment in our foreign subsidiaries. As of both March 31, 2023 and December 31, 2022, the total notional amount of foreign currency forward contracts designated as net investment hedges was $373.4 million. Certain of our customer agreements that are priced in currencies different from the functional or local currencies of the parties involved are deemed to have foreign currency forward contracts embedded in them. These embedded derivatives are separated from their host contracts and carried on our balance sheet at their fair value. The majority of these embedded derivatives arise as a result of our foreign subsidiaries pricing their customer contracts in U.S. Dollars. We use these forward contracts embedded within our customer agreements to hedge against the effect of foreign exchange rate fluctuations on our net investment in our foreign subsidiaries. The effect of net investment hedges on accumulated other comprehensive income and the condensed consolidated statements of operations for the three months ended March 31, 2023 and 2022 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended 2023 2022 Foreign currency debt $ (23,610) $ 45,061 Cross-currency interest rate swaps (included component) (1) (39,911) 122,030 Cross-currency interest rate swaps (excluded component) (2) 23,961 (72,108) Foreign currency forward contracts (included component) (1) (1,048) (2,949) Foreign currency forward contracts (excluded component) (3) 648 (676) Total $ (39,960) $ 91,358 Amount of gain or (loss) recognized in earnings: Location of gain or (loss) Three Months Ended 2023 2022 Cross-currency interest rate swaps (excluded component) (2) Interest expense $ 12,229 $ 12,578 Foreign currency forward contracts (excluded component) (3) Interest expense (152) (31) Total $ 12,077 $ 12,547 (1) Included component represents foreign exchange spot rates. (2) Excluded component represents cross-currency basis spread and interest rates. (3) Excluded component represents foreign currency forward points. Cash Flow Hedges . We hedge our foreign currency transaction exposure for forecasted revenues and expenses in our EMEA region between the U.S. Dollar and the British Pound, Euro, Swedish Krona and Swiss Franc. The foreign currency forward and option contracts that we use to hedge this exposure are designated as cash flow hedges. As of March 31, 2023 and December 31, 2022, the total notional amounts of these foreign exchange contracts were $570.4 million and $490.8 million, respectively. As of March 31, 2023, our foreign currency cash flow hedge instruments had maturity dates ranging from April 2023 to December 2024 and we had a net loss of $8.2 million recorded within accumulated other comprehensive income (loss) to be reclassified to revenues and expenses relating to these cash flow hedges as they mature in the next 12 months. As of December 31, 2022, our foreign currency cash flow hedge instruments had maturity dates ranging from January 2023 to February 2024 and we had a net gain of $8.2 million recorded within accumulated other comprehensive income (loss) to be reclassified to revenues and expenses relating to these cash flow hedges as they mature in the next 12 months. We enter into intercompany hedging instruments ("intercompany derivatives") with our wholly-owned subsidiaries in order to hedge certain forecasted revenues and expenses denominated in currencies other than the U.S. Dollar. Simultaneously, we enter into derivative contracts with unrelated third parties to externally hedge the net exposure created by such intercompany derivatives. We hedge the interest rate exposure created by anticipated fixed rate debt issuances through the use of treasury locks and swap locks (collectively, interest rate locks), which are designated as cash flow hedges. As of both March 31, 2023 and December 31, 2022, we had no interest rate locks outstanding. During the three months ended March 31, 2023, interest rate locks with a combined aggregate notional amount of ¥77.3 billion were settled related to the issuance of senior notes during the year. When interest rate locks are settled, any gain or loss from the transactions is deferred and included as a component of other comprehensive income (loss) and is amortized to interest expense over the term of the forecasted hedged transaction which is equivalent to the term of the interest rate locks. As of March 31, 2023 and December 31, 2022, we had a net gain of $1.1 million and $1.4 million, respectively, recorded within accumulated other comprehensive income (loss) to be reclassified to interest expense in the next 12 months for interest rate locks. We also use cross-currency swaps, which are designated as cash flow hedges, to manage the foreign currency exposure associated with a portion of our foreign currency-denominated debt. As of both March 31, 2023 and December 31, 2022, the total notional amount of cross-currency interest rate swaps, designated as cash flow hedges, was $280.3 million. The effect of cash flow hedges on accumulated other comprehensive income and the condensed consolidated statements of operations for the three months ended March 31, 2023 and 2022 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended 2023 2022 Foreign currency forward and option contracts (included component) (1) $ (12,453) $ 18,322 Cross-currency interest rate swaps (2,396) — Interest rate locks (4,108) 50,442 Total $ (18,957) $ 68,764 Amount of gain or (loss) reclassified from accumulated other comprehensive income to income: Three Months Ended Location of gain or (loss) 2023 2022 Foreign currency forward contracts Revenues $ 12,296 $ 3,563 Foreign currency forward contracts Costs and operating expenses (3,221) (1,312) Interest rate locks Interest Expense 320 (1,076) Total $ 9,395 $ 1,175 (1) Included component represents foreign exchange spot rates. Derivatives Not Designated as Hedging Instruments Embedded Derivatives. As described above, certain of our customer agreements that are priced in currencies different from the functional or local currencies of the parties involved are deemed to have foreign currency forward contracts embedded in them. Economic Hedges of Embedded Derivatives. We use foreign currency forward contracts to manage the foreign exchange risk associated with our customer agreements that are priced in currencies different from the functional or local currencies of the parties involved ("economic hedges of embedded derivatives"). Foreign currency forward contracts represent agreements to exchange the currency of one country for the currency of another country at an agreed-upon price on an agreed-upon settlement date. Foreign Currency Forward Contracts . We also use foreign currency forward contracts to manage the foreign exchange risk associated with certain foreign currency-denominated monetary assets and liabilities. As a result of foreign currency fluctuations, the U.S. Dollar equivalent values of our foreign currency-denominated monetary assets and liabilities change. Gains and losses on these contracts are included in other income (expense), on a net basis, along with the foreign currency gains and losses of the related foreign currency-denominated monetary assets and liabilities associated with these foreign currency forward contracts. As of March 31, 2023 and December 31, 2022, the total notional amounts of these foreign currency contracts were $2.2 billion and $3.0 billion, respectively. The following table presents the effect of derivatives not designated as hedging instruments in our condensed consolidated statements of operations (in thousands): Amount of gain or (loss) recognized in earnings: Three Months Ended Location of gain or (loss) 2023 2022 Embedded derivatives (1) Revenues $ — $ (568) Economic hedge of embedded derivatives (2) Revenues — (983) Foreign currency forward contracts Other income (expense) 10,707 (1,470) Total $ 10,707 $ (3,021) (1) Embedded derivatives which are considered foreign currency forward contracts were designated as net investment hedges beginning March 31, 2022. (2) As of March 31, 2023, we had no economic hedge of embedded derivatives outstanding. Fair Value of Derivative Instruments The following table presents the fair value of derivative instruments recognized in our condensed consolidated balance sheets as of March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 December 31, 2022 Assets (1) Liabilities (2) Assets (1) Liabilities (2) Designated as hedging instruments: Cash flow hedges Foreign currency forward and option contracts $ 8,639 $ 16,968 $ 27,812 $ 21,352 Cross-currency interest rate swaps 25,679 — 19,239 — Net investment hedges Cross-currency interest rate swaps 258,284 — 274,234 — Foreign currency forward contracts 25,179 5,468 25,077 4,805 Total designated as hedging 317,781 22,436 346,362 26,157 Not designated as hedging instruments: Foreign currency forward contracts 27,397 22,009 58,230 7,531 Total not designated as hedging 27,397 22,009 58,230 7,531 Total Derivatives $ 345,178 $ 44,445 $ 404,592 $ 33,688 (1) As presented in our condensed consolidated balance sheets within other current assets and other assets. (2) As presented in our condensed consolidated balance sheets within other current liabilities and other liabilities. Offsetting Derivative Assets and Liabilities We enter into master netting agreements with our counterparties for transactions other than embedded derivatives to mitigate credit risk exposure to any single counterparty. Master netting agreements allow for individual derivative contracts with a single counterparty to offset in the event of default. For presentation on the condensed consolidated balance sheets, we do not offset fair value amounts recognized for derivative instruments or the accrued interest related to cross-currency interest rate swaps under master netting arrangements. The following table presents information related to these offsetting arrangements as of March 31, 2023 and December 31, 2022 (in thousands): Gross Amounts Offset in Gross Amounts Gross Amounts Offset in the Balance Sheet Net Amounts Gross Amounts not Offset in the Balance Sheet Net March 31, 2023 Derivative assets $ 372,836 $ — $ 372,836 $ (50,820) $ 322,016 Derivative liabilities 59,156 — 59,156 (50,820) 8,336 December 31, 2022 Derivative assets $ 424,516 $ — $ 424,516 $ (34,429) $ 390,087 Derivative liabilities 39,234 — 39,234 (34,429) 4,805

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We perform fair value measurements in accordance with ASC 820, Fair Value Measurement, which establishes three levels of inputs that we use to measure fair value: • Level 1: quoted prices in active markets for identical assets or liabilities. • Level 2: observable inputs (e.g., spot rates and other data from the third-party pricing vendors for our derivative instruments) other than quoted market prices included within Level 1 that are observable, either directly or indirectly, for the assets or liabilities. • Level 3: unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of assets or liabilities. Our financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2023 and December 31, 2022 were as follows (in thousands): As of March 31, 2023 As of December 31, 2022 Fair Value Fair Value Fair Value Fair Value Level 1 Level 2 Level 1 Level 2 Assets: Money market and deposit accounts $ 1,595,440 $ 1,595,440 $ — $ 764,628 $ 764,628 $ — Derivative instruments (1) 345,178 — 345,178 404,592 — 404,592 Total $ 1,940,618 $ 1,595,440 $ 345,178 $ 1,169,220 $ 764,628 $ 404,592 Liabilities: Derivative instruments (1) $ 44,445 $ — $ 44,445 $ 33,688 $ — $ 33,688 (1) Amounts are included within other current assets, other assets, others current liabilities and other liabilities in the condensed consolidated balance sheets. We did not have any Level 3 financial assets or financial liabilities measured at fair value on a recurring basis as of March 31, 2023 and December 31, 2022.

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2023
Leases [Abstract]
Leases	Leases There were no significant lease transactions during the three months ended March 31, 2023. Lease Expenses The components of lease expenses are as follows (in thousands): Three Months Ended 2023 2022 Finance lease cost Amortization of right-of-use assets (1) $ 42,530 $ 40,123 Interest on lease liabilities 28,222 28,887 Total finance lease cost 70,752 69,010 Operating lease cost 53,406 51,630 Variable lease cost 12,808 7,616 Total lease cost $ 136,966 $ 128,256 (1) Amortization of right-of-use assets is included within depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the condensed consolidated statements of operations. Other Information Other information related to leases is as follows (in thousands, except years and percent): Three Months Ended Three Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 27,452 $ 28,297 Operating cash flows from operating leases 52,227 47,970 Financing cash flows from finance leases 35,498 40,773 Right-of-use assets obtained in exchange for lease obligations: (1) Finance leases $ 216 $ 26,339 Operating leases 5,286 7,400 As of March 31, 2023 As of December 31, 2022 Weighted-average remaining lease term - finance leases (2) 14 years 15 years Weighted-average remaining lease term - operating leases (2) 12 years 12 years Weighted-average discount rate - finance leases 6 % 6 % Weighted-average discount rate - operating leases 4 % 4 % Finance lease right-of-use assets (3) $ 1,978,005 $ 2,018,070 (1) Represents all non-cash changes in right-of-use assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) As of March 31, 2023 and December 31, 2022, we recorded accumulated amortization of finance lease right-of-use assets of $873.7 million and $840.0 million, respectively. Finance lease assets are recorded within property, plant and equipment, net on the condensed consolidated balance sheets. Maturities of Lease Liabilities Maturities of lease liabilities as of March 31, 2023 are as follows (in thousands): Operating Leases Finance Leases Total 2023 (9 months remaining) $ 132,066 $ 196,644 $ 328,710 2024 192,566 258,510 451,076 2025 186,010 277,003 463,013 2026 181,221 245,510 426,731 2027 158,467 248,524 406,991 Thereafter 1,020,904 2,193,035 3,213,939 Total lease payments 1,871,234 3,419,226 5,290,460 Less imputed interest (489,605) (1,158,649) (1,648,254) Total $ 1,381,629 $ 2,260,577 $ 3,642,206 We entered into agreements with various landlords primarily to lease data center spaces and ground leases which have not yet commenced as of March 31, 2023. These leases will commence between year 2023 and 2025, with lease terms of 2 to 20 years and total lease commitments of approximately $468.1 million.
Leases	Leases There were no significant lease transactions during the three months ended March 31, 2023. Lease Expenses The components of lease expenses are as follows (in thousands): Three Months Ended 2023 2022 Finance lease cost Amortization of right-of-use assets (1) $ 42,530 $ 40,123 Interest on lease liabilities 28,222 28,887 Total finance lease cost 70,752 69,010 Operating lease cost 53,406 51,630 Variable lease cost 12,808 7,616 Total lease cost $ 136,966 $ 128,256 (1) Amortization of right-of-use assets is included within depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the condensed consolidated statements of operations. Other Information Other information related to leases is as follows (in thousands, except years and percent): Three Months Ended Three Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 27,452 $ 28,297 Operating cash flows from operating leases 52,227 47,970 Financing cash flows from finance leases 35,498 40,773 Right-of-use assets obtained in exchange for lease obligations: (1) Finance leases $ 216 $ 26,339 Operating leases 5,286 7,400 As of March 31, 2023 As of December 31, 2022 Weighted-average remaining lease term - finance leases (2) 14 years 15 years Weighted-average remaining lease term - operating leases (2) 12 years 12 years Weighted-average discount rate - finance leases 6 % 6 % Weighted-average discount rate - operating leases 4 % 4 % Finance lease right-of-use assets (3) $ 1,978,005 $ 2,018,070 (1) Represents all non-cash changes in right-of-use assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) As of March 31, 2023 and December 31, 2022, we recorded accumulated amortization of finance lease right-of-use assets of $873.7 million and $840.0 million, respectively. Finance lease assets are recorded within property, plant and equipment, net on the condensed consolidated balance sheets. Maturities of Lease Liabilities Maturities of lease liabilities as of March 31, 2023 are as follows (in thousands): Operating Leases Finance Leases Total 2023 (9 months remaining) $ 132,066 $ 196,644 $ 328,710 2024 192,566 258,510 451,076 2025 186,010 277,003 463,013 2026 181,221 245,510 426,731 2027 158,467 248,524 406,991 Thereafter 1,020,904 2,193,035 3,213,939 Total lease payments 1,871,234 3,419,226 5,290,460 Less imputed interest (489,605) (1,158,649) (1,648,254) Total $ 1,381,629 $ 2,260,577 $ 3,642,206 We entered into agreements with various landlords primarily to lease data center spaces and ground leases which have not yet commenced as of March 31, 2023. These leases will commence between year 2023 and 2025, with lease terms of 2 to 20 years and total lease commitments of approximately $468.1 million.

Debt Facilities

Debt Facilities	3 Months Ended
Debt Facilities	Mar. 31, 2023
Debt Disclosure [Abstract]
Debt Facilities	Debt Facilities Mortgage and Loans Payable As of March 31, 2023 and December 31, 2022, our mortgage and loans payable consisted of the following (in thousands): March 31, December 31, 2022 Term loans $ 631,055 $ 619,090 Mortgage payable and loans payable 33,052 34,527 664,107 653,617 Less amount representing unamortized debt discount and debt issuance cost (1,003) (1,062) 663,104 652,555 Less current portion (9,869) (9,847) $ 653,235 $ 642,708 Senior Credit Facility and Refinancing On January 7, 2022, we entered into a credit agreement (the "2022 Credit Agreement") with a group of lenders for a senior unsecured credit facility, comprised of a $4.0 billion senior unsecured multicurrency revolving credit facility (the "2022 Revolving Facility") and a £500.0 million senior unsecured term loan facility (the "2022 Term Loan Facility" and, together with the 2022 Revolving Facility, collectively, the "2022 Credit Facilities"). The total debt issuance costs for the 2022 Revolving Facility and 2022 Term Loan Facility are $6.5 million and $0.8 million, respectively. We borrowed the full £500.0 million available under the 2022 Term Loan Facility, or approximately $676.9 million at the exchange rates in effect on that date. On that same day, using a portion of the proceeds from the 2022 Term Loan Facility, we prepaid in full all of the $549.6 million of indebtedness outstanding under the 2017 Term Loan Facility, at the exchange rates in effect on January 7, 2022 and terminated the 2017 Credit Agreement. In connection with the repayment and termination, we incurred an insignificant amount of loss on debt extinguishment. The remaining unamortized debt issuance costs of the 2017 Credit Facilities will continue to be amortized over the contract terms of the 2022 Credit Facilities. The 2022 Credit Facilities have a maturity date of January 7, 2027. We may borrow, repay and reborrow amounts under the 2022 Revolving Facility until the Maturity Date, at which time all amounts outstanding under the 2022 Revolving Facility must be repaid in full. The term loan made under the 2022 Term Loan Facility has no scheduled principal amortization and must be repaid in full on the maturity date. The 2022 Revolving Credit Facility provides for extensions of credit in U.S. Dollars as well as certain other foreign currencies. Borrowings under the 2022 Revolving Facility bear interest at a rate based on the daily Secured Overnight Financing Rate ("SOFR"), term SOFR, an alternative currency daily rate, or an alternative currency term rate plus a spread adjustment, plus a margin that can vary from 0.555% to 1.200%. Borrowings under the 2022 Term Loan Facility bear interest at a rate based on the daily Sterling Overnight Index Average ("SONIA"), plus a spread adjustment, plus a margin that can vary from 0.625% to 1.450%. We are also required to pay a quarterly letter of credit fee on the face amount of each letter of credit, which fee is based on the same margin that applies from time to time to SOFR-indexed borrowings under the revolving credit line. The margin is dependent on either our consolidated net leverage ratio or our credit ratings. We are also required to pay a quarterly facility fee ranging from 0.07% to 0.25% per annum. The 2022 Credit Agreement contains customary covenants, including financial ratio covenants that are required to be maintained as of each quarter end. As of March 31, 2023 and December 31, 2022, the total amounts outstanding under the 2022 Term Loan Facility, net of debt issuance costs, were $615.9 million and $603.0 million, respectively. As of March 31, 2023, we had 60 irrevocable letters of credit totaling $83.5 million issued and outstanding under the 2022 Revolving Facility, with approximately $3.9 billion remaining available to borrow under the 2022 Revolving Facility. Senior Notes As of March 31, 2023 and December 31, 2022, our senior notes consisted of the following (in thousands): March 31, 2023 December 31, 2022 Amount Effective Rate Amount Effective Rate 2.625% Senior Notes due 2024 $ 1,000,000 2.79 % $ 1,000,000 2.79 % 1.250% Senior Notes due 2025 500,000 1.46 % 500,000 1.46 % 1.000% Senior Notes due 2025 700,000 1.18 % 700,000 1.18 % 2.900% Senior Notes due 2026 600,000 3.04 % 600,000 3.04 % 1.450% Senior Notes due 2026 700,000 1.64 % 700,000 1.64 % 0.250% Euro Senior Notes due 2027 542,750 0.45 % 534,950 0.45 % 1.800% Senior Notes due 2027 500,000 1.96 % 500,000 1.96 % 1.550% Senior Notes due 2028 650,000 1.67 % 650,000 1.67 % 2.000% Senior Notes due 2028 400,000 2.21 % 400,000 2.21 % 3.200% Senior Notes due 2029 1,200,000 3.30 % 1,200,000 3.30 % 2.150% Senior Notes due 2030 1,100,000 2.27 % 1,100,000 2.27 % 2.500% Senior Notes due 2031 1,000,000 2.65 % 1,000,000 2.65 % 3.900% Senior Notes due 2032 1,200,000 4.07 % 1,200,000 4.07 % 1.000% Euro Senior Notes due 2033 651,300 1.18 % 641,940 1.18 % 2.000% Japanese Yen Senior Notes Series A due 2035 283,381 2.07 % — — % 2.130% Japanese Yen Senior Notes Series C due 2035 111,395 2.20 % — — % 2.370% Japanese Yen Senior Notes Series B due 2043 76,998 2.42 % — — % 2.570% Japanese Yen Senior Notes Series D due 2043 34,623 2.62 % — — % 2.570% Japanese Yen Senior Notes Series E due 2043 75,267 2.62 % — — % 3.000% Senior Notes due 2050 500,000 3.09 % 500,000 3.09 % 2.950% Senior Notes due 2051 500,000 3.00 % 500,000 3.00 % 3.400% Senior Notes due 2052 500,000 3.50 % 500,000 3.50 % 12,825,714 12,226,890 Less amount representing unamortized debt issuance cost (117,863) (117,351) $ 12,707,851 $ 12,109,539 3.900% Senior Notes due 2032 On April 5, 2022, we issued $1.2 billion aggregate principal amount of 3.900% Senior Notes due 2032 (the "2032 Notes"). Interest on the 2032 Notes is payable semi-annually on April 15 and October 15 of each year, commencing on October 15, 2022. Debt issuance costs and debt discounts related to the 2032 Notes were $16.3 million. 2.000% Japanese Yen Senior Notes Series A due 2035, 2.370% Japanese Yen Senior Notes Series B due 2043, 2.130% Japanese Yen Senior Notes Series C due 2035, 2.570% Japanese Yen Senior Notes Series D due 2043 and 2.570% Japanese Yen Senior Notes Series E due 2043 On February 16, 2023, we issued ¥10.0 billion, or approximately $74.5 million in U.S. dollars, at the exchange rate in effect on that date, aggregate principal amount of 2.570% senior notes due March 8, 2043 (the "2043 Japanese Yen Series E Notes"). On March 8, 2023, and at the exchange rate in effect on that date, we issued ¥37.7 billion, or approximately $274.7 million in U.S. dollars, aggregate principal amount of 2.000% senior notes due March 8, 2035 (the "2035 Japanese Yen Series A Notes"), ¥10.2 billion, or approximately $74.6 million in U.S. dollars, aggregate principal amount of 2.370% senior notes due March 8, 2043 (the "2043 Japanese Yen Series B Notes"), ¥14.8 billion, or approximately $107.9 million in U.S. dollars, aggregate principal amount of 2.130% senior notes due March 8, 2035 (the "2035 Japanese Yen Series C Notes") and ¥4.6 billion, or approximately $33.5 million in U.S. dollars, aggregate principal amount of 2.570% senior notes due March 8, 2043 (the "2043 Japanese Yen Series D Notes"). Interest on the notes is payable semi-annually in arrears on March 8 and September 8 of each year, commencing on September 8, 2023. Total debt issuance costs related to the 2035 Japanese Yen Series A Notes, the 2043 Japanese Yen Series B Notes, the 2035 Japanese Yen Series C Notes, the 2043 Japanese Yen Series D Notes and the 2043 Japanese Yen Series E Notes were $2.0 million, $0.6 million, $0.8 million, $0.3 million and $0.6 million, respectively. Maturities of Debt Instruments The following table sets forth maturities of our debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs and debt discounts, as of March 31, 2023 (in thousands): Years ending: 2023 (9 months remaining) $ 7,427 2024 1,009,455 2025 1,208,082 2026 1,307,661 2027 1,664,907 Thereafter 8,292,290 Total $ 13,489,822 Fair Value of Debt Instruments The following table sets forth the estimated fair values of our mortgage and loans payable and senior notes, including current maturities (in thousands): As of March 31, 2023 As of December 31, 2022 Fair Value Fair Value Fair Value Fair Value Level 1 Level 2 Level 1 Level 2 Mortgage and loans payable $ 675,443 $ — $ 675,443 $ 666,387 $ — $ 666,387 Senior notes 11,042,035 10,437,543 604,492 10,196,933 10,196,933 — The inputs used to estimate the fair value of debt instruments include: • Level 1: quoted market prices; and • Level 2: our credit rating and current prices of similar debt instruments that are publicly traded. Interest Charges The following table sets forth total interest costs incurred, and total interest costs capitalized for the periods presented (in thousands): Three Months Ended 2023 2022 Interest expense $ 97,481 $ 79,965 Interest capitalized 5,533 4,420 Interest charges incurred $ 103,014 $ 84,385

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase and Other Commitments As a result of our various IBX data center expansion projects, as of March 31, 2023, we were contractually committed for approximately $2.0 billion of unaccrued capital expenditures, primarily for IBX infrastructure equipment not yet delivered and labor not yet provided, in connection with the work necessary to open these IBX data centers and make them available to our customers for installation. We also had numerous other, non-capital purchase commitments in place as of March 31, 2023, such as commitments to purchase power in select locations through the remainder of 2023 and thereafter, and other open purchase orders for goods or services to be delivered or provided during the remainder of 2023 and thereafter. Such other miscellaneous purchase commitments totaled approximately $2.0 billion as of March 31, 2023. For further information on equity contribution commitments and lease commitments, see Note 6 and Note 9, respectively, above. Contingent Liabilities We estimate our exposure on certain liabilities, such as indirect and property taxes, based on the best information available at the time of determination. With respect to real and personal property taxes, we record what we can reasonably estimate based on prior payment history, assessed value by the assessor's office, current landlord estimates, or estimates based on current or changing fixed asset values in each specific municipality, as applicable. However, there are circumstances beyond our control whereby the underlying value of the property or basis for which the tax is calculated on the property may change, such as a landlord selling the underlying property of one of our IBX data center leases or a municipality changing the assessment value in a jurisdiction and, as a result, our property tax obligations may vary from period to period. Based upon the most current facts and circumstances, we make the necessary property tax accruals for each of our reporting periods. However, revisions in our estimates of the potential or actual liability could materially impact our financial position, results of operations or cash flows. Our indirect and property tax filings in various jurisdictions are subject to examination by local tax authorities. Although we believe that we have adequately assessed and accounted for our potential tax liabilities, and that our tax estimates are reasonable, there can be no certainty that additional taxes will not be due upon audit of our tax returns or as a result of further changes to the tax laws and interpretations thereof. For example, we are currently undergoing an audit and appealing the tentative assessment in Brazil. The final settlement of the audit and the outcomes of the appeal are uncertain and may not be resolved in our favor. We regularly assess the likelihood of adverse outcomes resulting from these examinations and appeals that would affect the adequacy of our tax accruals for each of the reporting periods. If any issues arising from the tax examinations and appeals are resolved in a manner inconsistent with our expectations, the revision of the estimates of the potential or actual liabilities could materially impact our financial position, results of operations, or cash flows. Employment Agreements We have entered into a severance agreement with certain of our executive officers that provides for a severance payment equal to 100% of the executive officer's annual base salary and maximum bonus in the event his or her employment is terminated for any reason other than cause or he or she voluntarily resigns under certain circumstances as described in the agreement, or 200% of the executive officer's annual base salary and maximum bonus in the event this occurs after a change-in-control of our company. For certain other executive officers, these benefits are only triggered after a change-in-control of our company, in which case the officer is entitled to 200% of the executive officer's annual base salary and maximum bonus. In addition, under these agreements, the executive officer is entitled to the payment of his or her monthly health care premiums under the Consolidated Omnibus Budget Reconciliation Act for up to 24 months. Indemnification and Guarantor Arrangements As permitted under Delaware law, we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is, or was serving, at our request in such capacity. The term of the indemnification period is for the officer's or director's lifetime. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited; however, we have a director and officer insurance policy that could limit our exposure and enable us to recover a portion of any future amounts paid. As a result of our insurance policy that could limit our exposure and enable us to recover some or all of amounts paid, our estimated fair value of these indemnification agreements is minimal. We have no liabilities recorded for these agreements as of March 31, 2023. We enter into standard indemnification agreements in the ordinary course of business. Pursuant to these agreements, we may agree to indemnify, hold harmless, and reimburse the indemnified party for losses suffered or incurred by the indemnified party, generally a business partner or a customer, in connection matters such as any U.S. patent, or any copyright or other intellectual property infringement claim by any third party with respect to our offerings; a breach of confidentiality obligations and certain other contractual warranties; our gross negligence, willful misconduct, fraud, misrepresentation, or violation of law; and/or if we cause tangible property damage, personal injury or death. The term of any such indemnification agreement is generally perpetual after execution of the agreement. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited; however, we have never incurred material costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, our estimated fair value of these agreements is minimal. We do not have significant liabilities recorded for these agreements as of March 31, 2023. We enter into arrangements with certain business partners, whereby the business partner agrees to provide services as a subcontractor for our installations. Accordingly, we enter into standard indemnification agreements with our customers, whereby we indemnify them for certain acts, such as personal property damage, by our subcontractors. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited; however, we have general and umbrella insurance policies that could enable us to recover a portion of any amounts paid. We have never incurred material costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, our estimated fair value of these agreements is minimal. We do not have significant liabilities recorded for these agreements as of March 31, 2023. We have service level commitment obligations to certain of our customers. As a result, service interruptions or significant equipment damage in our IBX data centers, whether or not within our control, could result in obligations to these customers. Our liability insurance may not be adequate to cover those expenses. In addition, any loss of service, equipment damage or inability to meet our service level commitment obligations could reduce the confidence our customers have in us, and could consequently impair our ability to obtain and retain customers, which would adversely affect both our ability to generate revenues and our operating results. We generally have the ability to determine such service level credits prior to the associated revenue being recognized. We do not have significant liabilities in connection with service level credits as of March 31, 2023.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Mar. 31, 2023
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Stockholders' Equity Rollforward The following tables provide a rollforward of our stockholders' equity for the three months ended March 31, 2023 and 2022 (in thousands, except share and per share data): AOCI (Loss) Retained Equinix Non-controlling Interests Total Stockholders' Equity Common Stock Treasury Stock Additional Accumulated Shares Amount Shares Amount Balance as of December 31, 2022 92,813,976 $ 93 (193,273) $ (71,966) $ 17,320,017 $ (7,317,570) $ (1,389,446) $ 2,964,838 $ 11,505,966 $ (134) $ 11,505,832 Net income — — — — — — — 258,786 258,786 (56) 258,730 Other comprehensive income — — — — — — 104,258 — 104,258 — 104,258 Issuance of common stock and release of treasury stock for employee equity awards 419,490 — 16,066 5,978 38,565 — — — 44,543 1 44,544 Issuance of common stock under ATM Program 458,459 1 — — 300,774 — — — 300,775 — 300,775 Dividend distribution on common stock,$3.41 per share — — — — — (318,736) — — (318,736) — (318,736) Settlement of accrued dividends on vested equity awards — — — — — (483) — — (483) — (483) Accrued dividends on unvested equity awards — — — — — (2,406) — — (2,406) — (2,406) Stock-based compensation, net of estimated forfeitures — — — — 136,345 — — — 136,345 — 136,345 Balance as of March 31, 2023 93,691,925 $ 94 (177,207) $ (65,988) $ 17,795,701 $ (7,639,195) $ (1,285,188) $ 3,223,624 $ 12,029,048 $ (189) $ 12,028,859 Additional Accumulated AOCI (Loss) Retained Equinix Non-controlling interests Total Stockholders' Equity Common Stock Treasury Stock Shares Amount Shares Amount Balance as of December 31, 2021 90,872,826 $ 91 (301,420) $ (112,208) $ 15,984,597 $ (6,165,140) $ (1,085,751) $ 2,260,493 $ 10,882,082 $ (318) $ 10,881,764 Net income — — — — — — — 147,453 147,453 240 147,693 Other comprehensive loss — — — — — — 32,837 — 32,837 3 32,840 Issuance of common stock and release of treasury stock for employee equity awards 430,973 — 11,445 4,259 39,617 — — — 43,876 — 43,876 Dividend distribution on common stock, $3.10 per share — — — — — (282,031) — — (282,031) — (282,031) Settlement of accrued dividends on vested equity awards — — — — — (497) — — (497) — (497) Accrued dividends on unvested equity awards — — — — — (2,045) — — (2,045) — (2,045) Stock-based compensation, net of estimated forfeitures — — — — 121,210 — — — 121,210 — 121,210 Balance as of March 31, 2022 91,303,799 $ 91 (289,975) $ (107,949) $ 16,145,424 $ (6,449,713) $ (1,052,914) $ 2,407,946 $ 10,942,885 $ (75) $ 10,942,810 Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss, net of tax, by components are as follows (in thousands): Balance as of December 31, Net Balance as of March 31, Foreign currency translation adjustment ("CTA") gain (loss) $ (1,838,237) $ 157,214 $ (1,681,023) Unrealized gain (loss) on cash flow hedges (1) 33,953 (12,881) 21,072 Net investment hedge CTA gain (loss) (1) 415,749 (39,960) 375,789 Net actuarial loss on defined benefit plans (2) (911) (115) (1,026) $ (1,389,446) $ 104,258 $ (1,285,188) (1) Refer to Note 7 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income. (2) We have two defined benefit pension plans covering all employees in two countries where such plans are mandated by law. We do not have any defined benefit plans in any other countries. Changes in foreign currencies can have a significant impact to our condensed consolidated balance sheets (as evidenced above in our foreign currency translation loss), as well as its condensed consolidated results of operations, as amounts in foreign currencies are generally translated into more U.S. Dollars when the U.S. Dollar weakens or fewer U.S. Dollars when the U.S. Dollar strengthens. As of March 31, 2023, the U.S. Dollar was generally weaker relative to certain of the currencies of the foreign countries in which we operate as compared to December 31, 2022. Because of this, the U.S. Dollar had an overall favorable impact on our condensed consolidated financial position because the foreign denominations translated into more U.S. Dollars as evidenced by a decrease in foreign currency translation loss for the three months ended March 31, 2023 as reflected in the above table. The volatility of the U.S. Dollar as compared to the other currencies in which we operate could have a significant impact on our condensed consolidated financial position and results of operations including the amount of revenue that we report in future periods. Common Stock In October 2020, we established an "at the market" equity offering program (the "2020 ATM Program"), under which we could, from time to time, offer and sell shares of our common stock to or through sales agents up to an aggregate of $1.5 billion. In February 2022, we entered into a forward sale amendment to the 2020 ATM Program, under which we could, from time to time, offer and sell shares under the equity distribution agreement pursuant to forward sale transactions (the "Equity Forward Amendment"). In November 2022, we established a successor ATM program, also with substantially the same terms as the Equity Forward Amendment noted above, under which we may, from time to time, offer and sell on a spot or forward basis up to an aggregate of $1.5 billion of our common stock to or through sales agents in "at the market" transactions (the "2022 ATM Program"). The forward sale agreements provide three settlement alternatives to us: physical settlement, cash settlement or net share settlement. In accordance with ASC 815, the forward sale agreements are classified as equity for balance sheet purposes. During the first half of 2022, we executed five forward sale agreements under the 2020 ATM Program to sell 579,873 shares of our common stock. On August 3, 2022, we physically settled these forward sale shares for approximately $393.6 million, net of payment of commissions to sales agents and other offering expenses, at an aggregate weighted-average forward sale price of $678.72 per share. In the fourth quarter of 2022, we executed three additional forward sale agreements to sell 458,459 shares of our common stock with maturity dates ranging from February 2023 to November 2023. Of this amount, 308,875 shares were executed under the 2020 ATM Program and the remaining 149,584 shares were executed under the 2022 ATM Program. As of December 31, 2022, no shares remained available for sale under the 2020 ATM Program. On February 28, 2023, we physically settled these forward sale shares for approximately $301.6 million, net of payment of commissions to sales agents and other offering expenses, at an aggregate weighted-average forward sale price of $657.75 per share. For the three months ended March 31, 2023, other than as noted above, we sold no additional shares and for the three months ended March 31, 2022, we did not sell any shares under the 2022 and 2020 ATM Program. As of March 31, 2023, we had approximately $1.4 billion of common stock available for sale under the 2022 ATM Program. Stock-Based Compensation For the three months ended March 31, 2023, the Talent, Culture and Compensation Committee and/or the Stock Award Committee of our Board of Directors, as the case may be, granted an aggregate of 845,473 restricted stock units ("RSUs") to certain employees, including executive officers. These equity awards are subject to vesting provisions and have a weighted-average grant date fair value of $685.99 per share and a weighted-average requisite service period of 3.48 years. The valuation of RSUs with only a service condition or a service and performance condition require no significant assumptions as the fair value for these types of equity awards is based solely on the fair value of our stock price on the date of grant. We use revenues, adjusted funds from operations ("AFFO") per share and digital services revenues as the performance measurements in the RSUs with both service and performance conditions that were granted in the three months ended March 31, 2023. We use a Monte Carlo simulation option-pricing model to determine the fair value of RSUs with a service and market condition. We used total shareholder return ("TSR") as the performance measurement in the RSUs with a service and market condition that were granted in the three months ended March 31, 2023. There were no significant changes in the assumptions used to determine the fair value of RSUs with a service and market condition that were granted in 2023 compared to the prior year. The following table presents, by operating expense category, our stock-based compensation expense recognized in our condensed consolidated statements of operations (in thousands): Three Months Ended 2023 2022 Cost of revenues $ 11,323 $ 10,443 Sales and marketing 19,505 20,184 General and administrative 67,887 59,325 Total $ 98,715 $ 89,952

Segment Information

Segment Information	3 Months Ended
Segment Information	Mar. 31, 2023
Segment Reporting [Abstract]
Segment Information	Segment InformationWhile we have one primary line of business, which is the design, build-out and operation of IBX data centers, we have determined that we have three reportable segments comprised of our Americas, EMEA and Asia-Pacific geographic regions. Our chief operating decision-maker evaluates performance, makes operating decisions and allocates resources based on our revenues and adjusted EBITDA performance both on a consolidated basis and based on these three reportable segments. Intercompany transactions between segments are excluded for management reporting purposes. The following tables present revenue information disaggregated by product lines and geographic areas, (in thousands): Three Months Ended March 31, 2023 Americas EMEA Asia-Pacific Total Colocation (1) $ 574,098 $ 515,611 $ 318,705 $ 1,408,414 Interconnection 198,639 72,606 65,562 336,807 Managed infrastructure 60,860 31,424 18,963 111,247 Other (1) 4,872 25,200 3,540 33,612 Recurring revenues 838,469 644,841 406,770 1,890,080 Non-recurring revenues 43,906 46,376 17,847 108,129 Total $ 882,375 $ 691,217 $ 424,617 $ 1,998,209 (1) Includes some leasing and hedging activities. Three Months Ended March 31, 2022 Americas EMEA Asia-Pacific Total Colocation (1) $ 522,171 $ 414,569 $ 282,615 $ 1,219,355 Interconnection 181,103 68,140 59,987 309,230 Managed infrastructure 49,222 30,990 20,642 100,854 Other (1) 5,134 6,414 1,337 12,885 Recurring revenues 757,630 520,113 364,581 1,642,324 Non-recurring revenues 42,791 30,367 18,965 92,123 Total $ 800,421 $ 550,480 $ 383,546 $ 1,734,447 (1) Includes some leasing and hedging activities. No single customer accounted for 10% or greater of our accounts receivable or revenues for the three months ended March 31, 2023 and 2022. There is no country outside of the U.S. from which we derived revenues that exceeded 10% of our total revenues for the three months ended March 31, 2023 and 2022. We define adjusted EBITDA as net income excluding income tax expense, interest income, interest expense, other income or expense, gain or loss on debt extinguishment, depreciation, amortization, accretion, stock-based compensation expense, restructuring charges, impairment charges, transaction costs and gain or loss on asset sales as presented below (in thousands): Three Months Ended 2023 2022 Adjusted EBITDA: Americas $ 405,087 $ 356,555 EMEA 326,513 260,345 Asia-Pacific 212,683 182,812 Total adjusted EBITDA 944,283 799,712 Depreciation, amortization and accretion expense (458,995) (436,386) Stock-based compensation expense (98,715) (89,952) Transaction costs (1,600) (4,240) Loss on asset sales (852) (1,818) Interest income 19,388 2,106 Interest expense (97,481) (79,965) Other income (expense) 7,503 (9,549) Gain on debt extinguishment 254 529 Income before income taxes $ 313,785 $ 180,437 We also provide the following additional segment disclosures (in thousands): Three Months Ended 2023 2022 Depreciation and amortization: Americas $ 244,714 $ 229,709 EMEA 124,017 115,054 Asia-Pacific 88,369 90,577 Total $ 457,100 $ 435,340 Capital expenditures: Americas $ 300,675 $ 185,046 EMEA 145,820 162,503 Asia-Pacific 83,105 64,969 Total $ 529,600 $ 412,518 Our long-lived assets, including property, plant and equipment, net and operating lease right-of-use assets, located in the following geographic areas as of (in thousands): March 31, December 31, Americas $ 7,706,923 $ 7,532,125 EMEA 5,727,022 5,577,498 Asia-Pacific 3,479,789 3,539,911 Total property, plant and equipment, net $ 16,913,734 $ 16,649,534 Americas $ 252,022 $ 263,148 EMEA 450,460 440,139 Asia-Pacific 701,234 724,663 Total operating lease right-of-use assets $ 1,403,716 $ 1,427,950

Subsequent Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Declaration of dividends On May 3, 2023, we declared a quarterly cash dividend of $3.41 per share, which is payable on June 21, 2023 to our common stockholders of record as of the close of business on May 24, 2023.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by Equinix, Inc. (collectively with its consolidated subsidiaries referred to as "Equinix," the "Company," "we," "our," or "us") and reflect all adjustments, consisting only of normal recurring adjustments, which in the opinion of management are necessary to fairly state the financial position and the results of operations for the interim periods presented. Our condensed consolidated balance sheet data as of December 31, 2022 has been derived from audited consolidated financial statements as of that date. Our condensed consolidated financial statements have been prepared in accordance with the regulations of the Securities and Exchange Commission ("SEC"), but omit certain information and footnote disclosure necessary to present the statements in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP" or "GAAP"). For further information, refer to the Consolidated Financial Statements and Notes thereto included in our Form 10-K as filed with the SEC on February 17, 2023. Results for the interim periods are not necessarily indicative of results for the entire fiscal year.
Consolidation	Consolidation The accompanying unaudited condensed consolidated financial statements include the acquisitions of: • Four data centers as well as a subsea cable and terrestrial fiber network in West Africa acquired from MainOne Cable Company ("MainOne") from April 1, 2022; and • Four data centers in Chile and a data center in Peru acquired from Empresa Nacional De Telecomunicaciones S.A. ("Entel") from May 2, 2022 and August 1, 2022, respectively. All intercompany accounts and transactions have been eliminated in consolidation.
Income Taxes	Income Taxes We elected to be taxed as a real estate investment trust for U.S. federal income tax purposes ("REIT") beginning with our 2015 taxable year. As a result, we may deduct the dividends paid to our stockholders from taxable income generated by our REIT and qualified REIT subsidiaries ("QRSs"). Our dividends paid deduction generally eliminates the U.S. federal taxable income of our REIT and QRSs, resulting in no U.S. federal income tax due. However, our domestic taxable REIT subsidiaries ("TRSs") are subject to U.S. corporate income taxes on any taxable income generated by them. In addition, our foreign operations are subject to local income taxes regardless of whether the foreign operations are operated as QRSs or TRSs.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Standards Adopted Supplier Finance Programs In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2022-04, "Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations". This guidance requires annual and interim disclosures for entities that use supplier finance programs in connection with the purchase of goods and services. The ASU is effective for fiscal years beginning after December 15, 2022, with early adoption permitted, except for the amendment on roll forward information, which is effective for fiscal years beginning after December 15, 2023. We adopted this ASU and the adoption of this standard did not have an impact on our condensed consolidated financial statements. Reference Rate Reform In March 2020, FASB issued ASU 2020-04, Reference Rate Reform ("Topic 848"): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. In addition, FASB issued ASU 2021-01, Reference Rate Reform ("Topic 848"), which clarifies the scope of Topic 848. Collectively, the guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. ASU 2021-01 is effective upon issuance and ASU 2020-04 was effective for all entities as of March 12, 2020, and together remained effective through December 31, 2022. In December 2022, FASB issued ASU 2022-06, Reference Rate Reform ("Topic 848"): Deferral of the Sunset Date of Topic 848. Because the current relief in Topic 848 may not cover a period of time during which a significant number of modifications may take place, the amendments in this Update defer the sunset date of Topic 848 from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. We adopted these ASUs upon their respective issuances and there was no impact on our consolidated financial statements as a result of adopting the guidance. We will evaluate our debt, derivative and lease contracts that may become eligible for modification relief and may apply the elections prospectively as needed. Debt with Conversion and Other Options In August 2020, FASB issued ASU 2020-06: Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). The ASU simplifies the accounting for convertible instruments by reducing the number of accounting models for convertible debt instruments and convertible preferred stock and modifies the disclosure requirement for the convertible instruments. Additionally, this ASU improves the consistency of EPS calculations by eliminating the use of the treasury stock method to calculate diluted EPS for convertible instruments and clarifies certain areas under the current EPS guidance. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021, with early adoption permitted at the beginning of the fiscal year after December 15, 2020. On January 1, 2022, we adopted this ASU on a prospective basis and the adoption of this standard did not have a material impact on our condensed consolidated financial statements. Business Combinations
Remaining performance obligations	Remaining performance obligations As of March 31, 2023, approximately $9.9 billion of total revenues, including deferred installation revenues, are expected to be recognized in future periods. Most of our revenue contracts have an initial term varying from one three The remaining performance obligations do not include variable consideration related to unsatisfied performance obligations such as the usage of metered power, point-in-time services, variable price increases, and service fees from xScale TM data centers, which are calculated based on future events or actual costs incurred in the future, or any contracts that could be terminated without any significant penalties such as the majority of interconnection revenues. The remaining performance obligations above include revenues to be recognized in the future related to arrangements where we are considered the lessor.
Derivatives Designated as Hedging Instruments	Derivatives Designated as Hedging Instruments Net Investment Hedges. We are exposed to the impact of foreign exchange rate fluctuations on the value of investments in our foreign subsidiaries whose functional currencies are other than the U.S. Dollar. In order to mitigate the impact of foreign currency exchange rates, we have entered into various foreign currency debt obligations, which are designated as hedges against our net investments in foreign subsidiaries. As of both March 31, 2023 and December 31, 2022, the total principal amounts of foreign currency debt obligations designated as net investment hedges was $1.5 billion. We also utilize cross-currency interest rate swaps, designated as net investment hedges, which effectively convert a portion of our U.S. dollar-denominated fixed-rate debt to foreign currency-denominated fixed-rate debt, to hedge the currency exposure associated with our net investment in our foreign subsidiaries. As of both March 31, 2023 and December 31, 2022, the total notional amount of cross-currency interest rate swaps, designated as net investment hedges was $3.9 billion, with maturity dates ranging through 2026. From time to time, we use foreign currency forward contracts, which are designated as net investment hedges, to hedge against the effect of foreign exchange rate fluctuations on our net investment in our foreign subsidiaries. As of both March 31, 2023 and December 31, 2022, the total notional amount of foreign currency forward contracts designated as net investment hedges was $373.4 million. Certain of our customer agreements that are priced in currencies different from the functional or local currencies of the parties involved are deemed to have foreign currency forward contracts embedded in them. These embedded derivatives are separated from their host contracts and carried on our balance sheet at their fair value. The majority of these embedded derivatives arise as a result of our foreign subsidiaries pricing their customer contracts in U.S. Dollars. We use these forward contracts embedded within our customer agreements to hedge against the effect of foreign exchange rate fluctuations on our net investment in our foreign subsidiaries. Cash Flow Hedges .
Derivatives Not Designated as Hedging Instruments	Derivatives Not Designated as Hedging Instruments Embedded Derivatives. As described above, certain of our customer agreements that are priced in currencies different from the functional or local currencies of the parties involved are deemed to have foreign currency forward contracts embedded in them. Economic Hedges of Embedded Derivatives. We use foreign currency forward contracts to manage the foreign exchange risk associated with our customer agreements that are priced in currencies different from the functional or local currencies of the parties involved ("economic hedges of embedded derivatives"). Foreign currency forward contracts represent agreements to exchange the currency of one country for the currency of another country at an agreed-upon price on an agreed-upon settlement date. Foreign Currency Forward Contracts .
Fair Value Measurements	We perform fair value measurements in accordance with ASC 820, Fair Value Measurement, which establishes three levels of inputs that we use to measure fair value: • Level 1: quoted prices in active markets for identical assets or liabilities. • Level 2: observable inputs (e.g., spot rates and other data from the third-party pricing vendors for our derivative instruments) other than quoted market prices included within Level 1 that are observable, either directly or indirectly, for the assets or liabilities. • Level 3: unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of assets or liabilities.
Segment Information	While we have one primary line of business, which is the design, build-out and operation of IBX data centers, we have determined that we have three reportable segments comprised of our Americas, EMEA and Asia-Pacific geographic regions. Our chief operating decision-maker evaluates performance, makes operating decisions and allocates resources based on our revenues and adjusted EBITDA performance both on a consolidated basis and based on these three reportable segments. Intercompany transactions between segments are excluded for management reporting purposes.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
Revenue (Tables)	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Opening and Closing Balances	The following table summarizes the opening and closing balances of our accounts receivable, net; contract assets, current; contract assets, non-current; deferred revenue, current; and deferred revenue, non-current (in thousands): Accounts receivable, net (1) Contract assets, current Contract assets, non-current Deferred revenue, current Deferred revenue, non-current Beginning balances as of January 1, 2023 $ 855,380 $ 27,608 $ 55,405 $ 132,090 $ 155,334 Closing balances as of March 31, 2023 913,413 28,619 72,269 129,378 153,039 Increase (Decrease) $ 58,033 $ 1,011 $ 16,864 $ (2,712) $ (2,295) (1) The net change in our allowance for credit losses was insignificant

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
Earnings Per Share (Tables)	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share ("EPS") for the periods presented (in thousands, except per share amounts): Three Months Ended 2023 2022 Net income $ 258,730 $ 147,693 Net (income) loss attributable to non-controlling interests 56 (240) Net income attributable to Equinix $ 258,786 $ 147,453 Weighted-average shares used to calculate basic EPS 92,971 90,771 Effect of dilutive securities: Employee equity awards 369 391 Weighted-average shares used to calculate diluted EPS 93,340 91,162 EPS attributable to Equinix: Basic EPS $ 2.78 $ 1.62 Diluted EPS $ 2.77 $ 1.62

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
Acquisitions (Tables)	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Allocation of Total Purchase Consideration	A summary of the allocation of total purchase consideration is presented as follows (in thousands): Entel Chile MainOne Entel Peru Final Provisional Cash and cash equivalents $ — $ 33,026 $ — Accounts receivable — 9,431 — Other current assets 12,424 21,988 — Property, plant and equipment 81,132 239,583 13,423 Intangible assets 153,489 54,800 10,000 Goodwill 380,867 110,665 46,285 Deferred tax and other assets 12,090 5,879 10,801 Total assets acquired 640,002 475,372 80,509 Accounts payable and accrued liabilities (195) (18,525) — Other current liabilities (1) — (13,061) — Mortgage and loans payable — (25,944) — Deferred tax and other liabilities (1) (1,463) (139,492) (167) Net assets acquired $ 638,344 $ 278,350 $ 80,342 (1) For the MainOne Acquisition, other current liabilities includes $9.9 million of deferred revenue - current and the other liabilities includes $95.4 million of deferred revenue - non-current.
Schedule of Acquired Intangible Assets	The following table presents certain information on the acquired intangible assets (in thousands): Intangible Assets Fair Value Estimated Useful Lives (Years) Weighted-average Estimated Useful Lives (Years) Discount Rate Entel Peru: Customer relationships (1) $ 10,000 15.0 15.0 7.0 % Entel Chile: Customer relationships (1) 153,489 12.0 - 15.0 14.0 8.5% - 9.5% MainOne: Customer relationships (1) 51,500 10.0 - 15.0 14.0 11.5 % Trade names (2) 3,300 5.0 5.0 11.5 % (1) The fair value was estimated by calculating the present value of estimated future operating cash flows generated from existing customers less costs to realize the revenue and/or by using benchmarking. The rates reflect the nature of the assets as they relate to the risk and uncertainty of the estimated future operating cash flows, as well as the risk of the country within which the acquired business operates. (2) The fair value of the MainOne trade name was estimated using the relief from royalty method under the income approach. We applied a relief from royalty rate of 1.0%.

Equity Method Investments (Tabl

Equity Method Investments (Tables)	3 Months Ended
Equity Method Investments (Tables)	Mar. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	The following table summarizes our equity method investments (in thousands), which were included in other assets on the condensed consolidated balance sheets: Investee Ownership Percentage March 31, 2023 December 31, 2022 EMEA 1 Joint Venture with GIC 20% $ 154,954 $ 148,895 VIE Joint Ventures 20% 206,327 191,680 Other Various 10,714 7,570 Total $ 371,995 $ 348,145
Schedule of The Maximum Exposure Losses of VIE Joint Ventures	The following table summarizes our maximum exposure to loss related to the VIE Joint Ventures as of March 31, 2023 (in thousands): VIE Joint Ventures Equity Investment $ 206,327 Outstanding Receivables 13,594 Future Equity Contribution Commitments (1) 41,014 Maximum Future Payments under Debt Guarantees (2) 82,408 Total $ 343,343 (1) The joint ventures' partners are required to make additional equity contributions proportionately upon certain occurrences, such as a shortfall in capital necessary to complete certain construction phases or make interest payments on their outstanding debt. (2) In connection with our 20% equity investment in the EMEA 2 Joint Venture, we provided the lenders with our guarantees covering 20% of all payments of principal and interest due under EMEA 2 Joint Venture's credit facility agreements (see Note 11).
Schedule of Other Related Party Transactions	The following table presents the revenues and expenses from these arrangements with the Joint Ventures in our condensed consolidated statements of operations (in thousands): Three Months Ended Related Party Nature of Transaction 2023 2022 EMEA 1 Joint Venture Revenues $ 7,041 $ 6,302 EMEA 1 Joint Venture Expenses (1) 1,657 4,328 VIE Joint Ventures Revenues 21,803 7,003 (1) Balances primarily consist of rent expenses for a 15-year sub-lease agreement with the EMEA 1 Joint Venture for a London data center. The following table presents the assets and liabilities from related party transactions with the Joint Ventures in our condensed consolidated balance sheets (in thousands): Related Party Balance Sheet Line Item March 31, 2023 December 31, 2022 EMEA 1 Joint Venture Receivables $ 23,645 $ 73,929 Contract Assets 7,367 7,261 Finance Lease Right of Use Assets 100,934 100,968 Other Liabilities and Payables 40,352 1,193 Other Liabilities and Payables - Construction Obligation (1) — 18,967 Deferred Revenue 17,818 15,470 Finance Lease Right of Use Liabilities 110,007 108,603 VIE Joint Ventures Receivables 13,594 19,935 Contract Assets 19,561 5,281 Deferred Revenue 2,916 — (1) The balance primarily relates to the obligation to pay for future construction for certain sites sold as a part of the EMEA 1 Joint Venture transaction.

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	3 Months Ended
Derivatives and Hedging Activities (Tables)	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Net Investment Hedges	The effect of net investment hedges on accumulated other comprehensive income and the condensed consolidated statements of operations for the three months ended March 31, 2023 and 2022 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended 2023 2022 Foreign currency debt $ (23,610) $ 45,061 Cross-currency interest rate swaps (included component) (1) (39,911) 122,030 Cross-currency interest rate swaps (excluded component) (2) 23,961 (72,108) Foreign currency forward contracts (included component) (1) (1,048) (2,949) Foreign currency forward contracts (excluded component) (3) 648 (676) Total $ (39,960) $ 91,358 Amount of gain or (loss) recognized in earnings: Location of gain or (loss) Three Months Ended 2023 2022 Cross-currency interest rate swaps (excluded component) (2) Interest expense $ 12,229 $ 12,578 Foreign currency forward contracts (excluded component) (3) Interest expense (152) (31) Total $ 12,077 $ 12,547 (1) Included component represents foreign exchange spot rates. (2) Excluded component represents cross-currency basis spread and interest rates. (3) Excluded component represents foreign currency forward points.
Schedule of Cash Flow Hedges	The effect of cash flow hedges on accumulated other comprehensive income and the condensed consolidated statements of operations for the three months ended March 31, 2023 and 2022 was as follows (in thousands): Amount of gain or (loss) recognized in accumulated other comprehensive income: Three Months Ended 2023 2022 Foreign currency forward and option contracts (included component) (1) $ (12,453) $ 18,322 Cross-currency interest rate swaps (2,396) — Interest rate locks (4,108) 50,442 Total $ (18,957) $ 68,764 Amount of gain or (loss) reclassified from accumulated other comprehensive income to income: Three Months Ended Location of gain or (loss) 2023 2022 Foreign currency forward contracts Revenues $ 12,296 $ 3,563 Foreign currency forward contracts Costs and operating expenses (3,221) (1,312) Interest rate locks Interest Expense 320 (1,076) Total $ 9,395 $ 1,175 (1) Included component represents foreign exchange spot rates.
Schedule of Derivatives not Designated as Hedging Instruments in the Company's Condensed Consolidated Statements of Operations	The following table presents the effect of derivatives not designated as hedging instruments in our condensed consolidated statements of operations (in thousands): Amount of gain or (loss) recognized in earnings: Three Months Ended Location of gain or (loss) 2023 2022 Embedded derivatives (1) Revenues $ — $ (568) Economic hedge of embedded derivatives (2) Revenues — (983) Foreign currency forward contracts Other income (expense) 10,707 (1,470) Total $ 10,707 $ (3,021) (1) Embedded derivatives which are considered foreign currency forward contracts were designated as net investment hedges beginning March 31, 2022. (2) As of March 31, 2023, we had no economic hedge of embedded derivatives outstanding.
Schedule of Derivative Instruments Recognized in the Company's Condensed Consolidated Balance Sheets	The following table presents the fair value of derivative instruments recognized in our condensed consolidated balance sheets as of March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 December 31, 2022 Assets (1) Liabilities (2) Assets (1) Liabilities (2) Designated as hedging instruments: Cash flow hedges Foreign currency forward and option contracts $ 8,639 $ 16,968 $ 27,812 $ 21,352 Cross-currency interest rate swaps 25,679 — 19,239 — Net investment hedges Cross-currency interest rate swaps 258,284 — 274,234 — Foreign currency forward contracts 25,179 5,468 25,077 4,805 Total designated as hedging 317,781 22,436 346,362 26,157 Not designated as hedging instruments: Foreign currency forward contracts 27,397 22,009 58,230 7,531 Total not designated as hedging 27,397 22,009 58,230 7,531 Total Derivatives $ 345,178 $ 44,445 $ 404,592 $ 33,688 (1) As presented in our condensed consolidated balance sheets within other current assets and other assets. (2) As presented in our condensed consolidated balance sheets within other current liabilities and other liabilities.
Schedule of Offsetting Derivative Assets and Liabilities	The following table presents information related to these offsetting arrangements as of March 31, 2023 and December 31, 2022 (in thousands): Gross Amounts Offset in Gross Amounts Gross Amounts Offset in the Balance Sheet Net Amounts Gross Amounts not Offset in the Balance Sheet Net March 31, 2023 Derivative assets $ 372,836 $ — $ 372,836 $ (50,820) $ 322,016 Derivative liabilities 59,156 — 59,156 (50,820) 8,336 December 31, 2022 Derivative assets $ 424,516 $ — $ 424,516 $ (34,429) $ 390,087 Derivative liabilities 39,234 — 39,234 (34,429) 4,805
Schedule of Offsetting Derivative Assets and Liabilities	The following table presents information related to these offsetting arrangements as of March 31, 2023 and December 31, 2022 (in thousands): Gross Amounts Offset in Gross Amounts Gross Amounts Offset in the Balance Sheet Net Amounts Gross Amounts not Offset in the Balance Sheet Net March 31, 2023 Derivative assets $ 372,836 $ — $ 372,836 $ (50,820) $ 322,016 Derivative liabilities 59,156 — 59,156 (50,820) 8,336 December 31, 2022 Derivative assets $ 424,516 $ — $ 424,516 $ (34,429) $ 390,087 Derivative liabilities 39,234 — 39,234 (34,429) 4,805

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	Our financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2023 and December 31, 2022 were as follows (in thousands): As of March 31, 2023 As of December 31, 2022 Fair Value Fair Value Fair Value Fair Value Level 1 Level 2 Level 1 Level 2 Assets: Money market and deposit accounts $ 1,595,440 $ 1,595,440 $ — $ 764,628 $ 764,628 $ — Derivative instruments (1) 345,178 — 345,178 404,592 — 404,592 Total $ 1,940,618 $ 1,595,440 $ 345,178 $ 1,169,220 $ 764,628 $ 404,592 Liabilities: Derivative instruments (1) $ 44,445 $ — $ 44,445 $ 33,688 $ — $ 33,688 (1) Amounts are included within other current assets, other assets, others current liabilities and other liabilities in the condensed consolidated balance sheets.

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2023
Leases [Abstract]
Schedule of Components of Lease Expenses	The components of lease expenses are as follows (in thousands): Three Months Ended 2023 2022 Finance lease cost Amortization of right-of-use assets (1) $ 42,530 $ 40,123 Interest on lease liabilities 28,222 28,887 Total finance lease cost 70,752 69,010 Operating lease cost 53,406 51,630 Variable lease cost 12,808 7,616 Total lease cost $ 136,966 $ 128,256 (1) Amortization of right-of-use assets is included within depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the condensed consolidated statements of operations.
Schedule of Other Information Related to Leases	Other information related to leases is as follows (in thousands, except years and percent): Three Months Ended Three Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 27,452 $ 28,297 Operating cash flows from operating leases 52,227 47,970 Financing cash flows from finance leases 35,498 40,773 Right-of-use assets obtained in exchange for lease obligations: (1) Finance leases $ 216 $ 26,339 Operating leases 5,286 7,400 As of March 31, 2023 As of December 31, 2022 Weighted-average remaining lease term - finance leases (2) 14 years 15 years Weighted-average remaining lease term - operating leases (2) 12 years 12 years Weighted-average discount rate - finance leases 6 % 6 % Weighted-average discount rate - operating leases 4 % 4 % Finance lease right-of-use assets (3) $ 1,978,005 $ 2,018,070 (1) Represents all non-cash changes in right-of-use assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) As of March 31, 2023 and December 31, 2022, we recorded accumulated amortization of finance lease right-of-use assets of $873.7 million and $840.0 million, respectively. Finance lease assets are recorded within property, plant and equipment, net on the condensed consolidated balance sheets.
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities as of March 31, 2023 are as follows (in thousands): Operating Leases Finance Leases Total 2023 (9 months remaining) $ 132,066 $ 196,644 $ 328,710 2024 192,566 258,510 451,076 2025 186,010 277,003 463,013 2026 181,221 245,510 426,731 2027 158,467 248,524 406,991 Thereafter 1,020,904 2,193,035 3,213,939 Total lease payments 1,871,234 3,419,226 5,290,460 Less imputed interest (489,605) (1,158,649) (1,648,254) Total $ 1,381,629 $ 2,260,577 $ 3,642,206
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities as of March 31, 2023 are as follows (in thousands): Operating Leases Finance Leases Total 2023 (9 months remaining) $ 132,066 $ 196,644 $ 328,710 2024 192,566 258,510 451,076 2025 186,010 277,003 463,013 2026 181,221 245,510 426,731 2027 158,467 248,524 406,991 Thereafter 1,020,904 2,193,035 3,213,939 Total lease payments 1,871,234 3,419,226 5,290,460 Less imputed interest (489,605) (1,158,649) (1,648,254) Total $ 1,381,629 $ 2,260,577 $ 3,642,206

Debt Facilities (Tables)

Debt Facilities (Tables)	3 Months Ended
Debt Facilities (Tables)	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Debt	As of March 31, 2023 and December 31, 2022, our mortgage and loans payable consisted of the following (in thousands): March 31, December 31, 2022 Term loans $ 631,055 $ 619,090 Mortgage payable and loans payable 33,052 34,527 664,107 653,617 Less amount representing unamortized debt discount and debt issuance cost (1,003) (1,062) 663,104 652,555 Less current portion (9,869) (9,847) $ 653,235 $ 642,708 As of March 31, 2023 and December 31, 2022, our senior notes consisted of the following (in thousands): March 31, 2023 December 31, 2022 Amount Effective Rate Amount Effective Rate 2.625% Senior Notes due 2024 $ 1,000,000 2.79 % $ 1,000,000 2.79 % 1.250% Senior Notes due 2025 500,000 1.46 % 500,000 1.46 % 1.000% Senior Notes due 2025 700,000 1.18 % 700,000 1.18 % 2.900% Senior Notes due 2026 600,000 3.04 % 600,000 3.04 % 1.450% Senior Notes due 2026 700,000 1.64 % 700,000 1.64 % 0.250% Euro Senior Notes due 2027 542,750 0.45 % 534,950 0.45 % 1.800% Senior Notes due 2027 500,000 1.96 % 500,000 1.96 % 1.550% Senior Notes due 2028 650,000 1.67 % 650,000 1.67 % 2.000% Senior Notes due 2028 400,000 2.21 % 400,000 2.21 % 3.200% Senior Notes due 2029 1,200,000 3.30 % 1,200,000 3.30 % 2.150% Senior Notes due 2030 1,100,000 2.27 % 1,100,000 2.27 % 2.500% Senior Notes due 2031 1,000,000 2.65 % 1,000,000 2.65 % 3.900% Senior Notes due 2032 1,200,000 4.07 % 1,200,000 4.07 % 1.000% Euro Senior Notes due 2033 651,300 1.18 % 641,940 1.18 % 2.000% Japanese Yen Senior Notes Series A due 2035 283,381 2.07 % — — % 2.130% Japanese Yen Senior Notes Series C due 2035 111,395 2.20 % — — % 2.370% Japanese Yen Senior Notes Series B due 2043 76,998 2.42 % — — % 2.570% Japanese Yen Senior Notes Series D due 2043 34,623 2.62 % — — % 2.570% Japanese Yen Senior Notes Series E due 2043 75,267 2.62 % — — % 3.000% Senior Notes due 2050 500,000 3.09 % 500,000 3.09 % 2.950% Senior Notes due 2051 500,000 3.00 % 500,000 3.00 % 3.400% Senior Notes due 2052 500,000 3.50 % 500,000 3.50 % 12,825,714 12,226,890 Less amount representing unamortized debt issuance cost (117,863) (117,351) $ 12,707,851 $ 12,109,539
Schedule of Maturities of Debt Instruments	The following table sets forth maturities of our debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs and debt discounts, as of March 31, 2023 (in thousands): Years ending: 2023 (9 months remaining) $ 7,427 2024 1,009,455 2025 1,208,082 2026 1,307,661 2027 1,664,907 Thereafter 8,292,290 Total $ 13,489,822
Schedule of Fair Value of Debt Instruments	The following table sets forth the estimated fair values of our mortgage and loans payable and senior notes, including current maturities (in thousands): As of March 31, 2023 As of December 31, 2022 Fair Value Fair Value Fair Value Fair Value Level 1 Level 2 Level 1 Level 2 Mortgage and loans payable $ 675,443 $ — $ 675,443 $ 666,387 $ — $ 666,387 Senior notes 11,042,035 10,437,543 604,492 10,196,933 10,196,933 —
Schedule of Interest Charges Incurred	The following table sets forth total interest costs incurred, and total interest costs capitalized for the periods presented (in thousands): Three Months Ended 2023 2022 Interest expense $ 97,481 $ 79,965 Interest capitalized 5,533 4,420 Interest charges incurred $ 103,014 $ 84,385

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
Stockholders' Equity (Tables)	Mar. 31, 2023
Equity [Abstract]
Schedule of Rollforward of Stockholders' Equity	The following tables provide a rollforward of our stockholders' equity for the three months ended March 31, 2023 and 2022 (in thousands, except share and per share data): AOCI (Loss) Retained Equinix Non-controlling Interests Total Stockholders' Equity Common Stock Treasury Stock Additional Accumulated Shares Amount Shares Amount Balance as of December 31, 2022 92,813,976 $ 93 (193,273) $ (71,966) $ 17,320,017 $ (7,317,570) $ (1,389,446) $ 2,964,838 $ 11,505,966 $ (134) $ 11,505,832 Net income — — — — — — — 258,786 258,786 (56) 258,730 Other comprehensive income — — — — — — 104,258 — 104,258 — 104,258 Issuance of common stock and release of treasury stock for employee equity awards 419,490 — 16,066 5,978 38,565 — — — 44,543 1 44,544 Issuance of common stock under ATM Program 458,459 1 — — 300,774 — — — 300,775 — 300,775 Dividend distribution on common stock,$3.41 per share — — — — — (318,736) — — (318,736) — (318,736) Settlement of accrued dividends on vested equity awards — — — — — (483) — — (483) — (483) Accrued dividends on unvested equity awards — — — — — (2,406) — — (2,406) — (2,406) Stock-based compensation, net of estimated forfeitures — — — — 136,345 — — — 136,345 — 136,345 Balance as of March 31, 2023 93,691,925 $ 94 (177,207) $ (65,988) $ 17,795,701 $ (7,639,195) $ (1,285,188) $ 3,223,624 $ 12,029,048 $ (189) $ 12,028,859 Additional Accumulated AOCI (Loss) Retained Equinix Non-controlling interests Total Stockholders' Equity Common Stock Treasury Stock Shares Amount Shares Amount Balance as of December 31, 2021 90,872,826 $ 91 (301,420) $ (112,208) $ 15,984,597 $ (6,165,140) $ (1,085,751) $ 2,260,493 $ 10,882,082 $ (318) $ 10,881,764 Net income — — — — — — — 147,453 147,453 240 147,693 Other comprehensive loss — — — — — — 32,837 — 32,837 3 32,840 Issuance of common stock and release of treasury stock for employee equity awards 430,973 — 11,445 4,259 39,617 — — — 43,876 — 43,876 Dividend distribution on common stock, $3.10 per share — — — — — (282,031) — — (282,031) — (282,031) Settlement of accrued dividends on vested equity awards — — — — — (497) — — (497) — (497) Accrued dividends on unvested equity awards — — — — — (2,045) — — (2,045) — (2,045) Stock-based compensation, net of estimated forfeitures — — — — 121,210 — — — 121,210 — 121,210 Balance as of March 31, 2022 91,303,799 $ 91 (289,975) $ (107,949) $ 16,145,424 $ (6,449,713) $ (1,052,914) $ 2,407,946 $ 10,942,885 $ (75) $ 10,942,810
Schedule of Changes in Accumulated Other Comprehensive Loss	The changes in accumulated other comprehensive loss, net of tax, by components are as follows (in thousands): Balance as of December 31, Net Balance as of March 31, Foreign currency translation adjustment ("CTA") gain (loss) $ (1,838,237) $ 157,214 $ (1,681,023) Unrealized gain (loss) on cash flow hedges (1) 33,953 (12,881) 21,072 Net investment hedge CTA gain (loss) (1) 415,749 (39,960) 375,789 Net actuarial loss on defined benefit plans (2) (911) (115) (1,026) $ (1,389,446) $ 104,258 $ (1,285,188) (1) Refer to Note 7 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income. (2) We have two defined benefit pension plans covering all employees in two countries where such plans are mandated by law. We do not have any defined benefit plans in any other countries.
Schedule of Stock-Based Compensation Expense by Operating Expense Category	The following table presents, by operating expense category, our stock-based compensation expense recognized in our condensed consolidated statements of operations (in thousands): Three Months Ended 2023 2022 Cost of revenues $ 11,323 $ 10,443 Sales and marketing 19,505 20,184 General and administrative 67,887 59,325 Total $ 98,715 $ 89,952

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Revenue Information Disaggregated by Service Lines and Geographic Areas	The following tables present revenue information disaggregated by product lines and geographic areas, (in thousands): Three Months Ended March 31, 2023 Americas EMEA Asia-Pacific Total Colocation (1) $ 574,098 $ 515,611 $ 318,705 $ 1,408,414 Interconnection 198,639 72,606 65,562 336,807 Managed infrastructure 60,860 31,424 18,963 111,247 Other (1) 4,872 25,200 3,540 33,612 Recurring revenues 838,469 644,841 406,770 1,890,080 Non-recurring revenues 43,906 46,376 17,847 108,129 Total $ 882,375 $ 691,217 $ 424,617 $ 1,998,209 (1) Includes some leasing and hedging activities. Three Months Ended March 31, 2022 Americas EMEA Asia-Pacific Total Colocation (1) $ 522,171 $ 414,569 $ 282,615 $ 1,219,355 Interconnection 181,103 68,140 59,987 309,230 Managed infrastructure 49,222 30,990 20,642 100,854 Other (1) 5,134 6,414 1,337 12,885 Recurring revenues 757,630 520,113 364,581 1,642,324 Non-recurring revenues 42,791 30,367 18,965 92,123 Total $ 800,421 $ 550,480 $ 383,546 $ 1,734,447 (1) Includes some leasing and hedging activities.
Schedule of Adjusted EBITDA	We define adjusted EBITDA as net income excluding income tax expense, interest income, interest expense, other income or expense, gain or loss on debt extinguishment, depreciation, amortization, accretion, stock-based compensation expense, restructuring charges, impairment charges, transaction costs and gain or loss on asset sales as presented below (in thousands): Three Months Ended 2023 2022 Adjusted EBITDA: Americas $ 405,087 $ 356,555 EMEA 326,513 260,345 Asia-Pacific 212,683 182,812 Total adjusted EBITDA 944,283 799,712 Depreciation, amortization and accretion expense (458,995) (436,386) Stock-based compensation expense (98,715) (89,952) Transaction costs (1,600) (4,240) Loss on asset sales (852) (1,818) Interest income 19,388 2,106 Interest expense (97,481) (79,965) Other income (expense) 7,503 (9,549) Gain on debt extinguishment 254 529 Income before income taxes $ 313,785 $ 180,437
Schedule of Segment Disclosures	We also provide the following additional segment disclosures (in thousands): Three Months Ended 2023 2022 Depreciation and amortization: Americas $ 244,714 $ 229,709 EMEA 124,017 115,054 Asia-Pacific 88,369 90,577 Total $ 457,100 $ 435,340 Capital expenditures: Americas $ 300,675 $ 185,046 EMEA 145,820 162,503 Asia-Pacific 83,105 64,969 Total $ 529,600 $ 412,518
Schedule of Segment Long-Lived Assets	Our long-lived assets, including property, plant and equipment, net and operating lease right-of-use assets, located in the following geographic areas as of (in thousands): March 31, December 31, Americas $ 7,706,923 $ 7,532,125 EMEA 5,727,022 5,577,498 Asia-Pacific 3,479,789 3,539,911 Total property, plant and equipment, net $ 16,913,734 $ 16,649,534 Americas $ 252,022 $ 263,148 EMEA 450,460 440,139 Asia-Pacific 701,234 724,663 Total operating lease right-of-use assets $ 1,403,716 $ 1,427,950

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies - Narrative (Detail) - center	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Aug. 01, 2022	May 02, 2022	Apr. 01, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effective income tax rate, continuing operations	17.60%	18.20%
MainOne
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Data centers purchased					4
Empresa Nacional De Telecomunicaciones S.A. \| CHILE
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Data centers purchased				4
Empresa Nacional De Telecomunicaciones S.A. \| PERU
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Data centers purchased			1

Revenue - Opening and Closing B

Revenue - Opening and Closing Balances (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 913,413	$ 855,380
Increase (Decrease) in Accounts receivables, net	58,033
Contract assets, current	28,619	27,608
Increase (Decrease) in Contract asset, current	1,011
Contract assets, non-current	72,269	55,405
Increase (Decrease) in Contract asset, non-current	16,864
Deferred revenue, current	129,378	132,090
Increase (Decrease) in Deferred revenue, current	(2,712)
Deferred revenue, non-current	153,039	$ 155,334
Increase (Decrease) in Deferred revenue, non-current	$ (2,295)

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	3 Months Ended
Revenue - Narrative (Details) $ in Millions	Mar. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, revenue recognized	$ 36.8
Revenue, remaining performance obligation	$ 9,900
Renewal term	1 year
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, requirement of payment, terms	1 year
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, requirement of payment, terms	3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, requirement of payment, terms	2 years
Revenue, remaining performance obligation, percentage	70%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	30%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01 \| Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, requirement of payment, terms	3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01 \| Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, requirement of payment, terms	5 years

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net income	$ 258,730	$ 147,693
Net (income) loss attributable to non-controlling interests	56	(240)
Net income attributable to Equinix	$ 258,786	$ 147,453
Weighted-average shares used to calculate basic EPS (in shares)	92,971	90,771
Effect of dilutive securities:
Employee equity awards (in shares)	369	391
Weighted-average shares used to calculate diluted EPS (in shares)	93,340	91,162
Basic EPS (in dollars per share)	$ 2.78	$ 1.62
Diluted EPS (in dollars per share)	$ 2.77	$ 1.62

Earnings Per Share - Anti-dilut

Earnings Per Share - Anti-dilutive Potential Shares of Common Stock Excluded from Computation of Earnings Per Share (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Anti-dilutive potential shares of common stock excluded from computation of earnings per share (in shares)	140	377

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Detail) $ in Millions				3 Months Ended
Acquisitions - Narrative (Detail) $ in Millions	Aug. 01, 2022 USD ($)	May 02, 2022 USD ($) center	Apr. 01, 2022 USD ($) center	Mar. 31, 2023 acquisition
Business Acquisition [Line Items]
Number of acquisitions \| acquisition				3
Entel Chile
Business Acquisition [Line Items]
Data centers purchased \| center		4
Consideration transferred		$ 638.3
Entel Peru:
Business Acquisition [Line Items]
Consideration transferred	$ 80.3
MainOne
Business Acquisition [Line Items]
Data centers purchased \| center			4
Consideration transferred			$ 278.4

Acquisitions - Preliminary Purc

Acquisitions - Preliminary Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Aug. 01, 2022	May 02, 2022	Apr. 01, 2022
Allocation of purchase price consideration
Goodwill	$ 5,712,063	$ 5,654,217
Entel Chile
Allocation of purchase price consideration
Cash and cash equivalents				$ 0
Accounts receivable				0
Other current assets				12,424
Property, plant and equipment				81,132
Intangible assets				153,489
Goodwill				380,867
Deferred tax and other assets				12,090
Total assets acquired				640,002
Accounts payable and accrued liabilities				(195)
Other current liabilities				0
Mortgage and loans payable				0
Deferred tax and other liabilities				(1,463)
Net assets acquired				$ 638,344
MainOne
Allocation of purchase price consideration
Cash and cash equivalents					$ 33,026
Accounts receivable					9,431
Other current assets					21,988
Property, plant and equipment					239,583
Intangible assets					54,800
Goodwill					110,665
Deferred tax and other assets					5,879
Total assets acquired					475,372
Accounts payable and accrued liabilities					(18,525)
Other current liabilities					(13,061)
Mortgage and loans payable					(25,944)
Deferred tax and other liabilities					(139,492)
Net assets acquired					278,350
Deferred revenue, current					9,900
Deferred revenue, noncurrent					$ 95,400
Entel Peru:
Allocation of purchase price consideration
Cash and cash equivalents			$ 0
Accounts receivable			0
Other current assets			0
Property, plant and equipment			13,423
Intangible assets			10,000
Goodwill			46,285
Deferred tax and other assets			10,801
Total assets acquired			80,509
Accounts payable and accrued liabilities			0
Other current liabilities			0
Mortgage and loans payable			0
Deferred tax and other liabilities			(167)
Net assets acquired			$ 80,342

Acquisitions - Intangible Asset

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

Assets Held for Sale - Narrativ

Assets Held for Sale - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended
	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 10, 2023	Dec. 31, 2022
Long Lived Assets Held-for-sale [Line Items]
Equity method investments	$ 371,995					$ 348,145
EMEA 2 Joint Venture \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Warsaw 4 ("WA4") Data Center Site
Long Lived Assets Held-for-sale [Line Items]
Term of transaction (in years)				2 years
Consideration		$ 61,500
Asia-Pacific 2 Joint Venture
Long Lived Assets Held-for-sale [Line Items]
Ownership percentage			20%
Equity method investments			$ 29,800
Asia-Pacific 2 Joint Venture \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Sydney 9 ("SY9") Data Center Site
Long Lived Assets Held-for-sale [Line Items]
Consideration			201,300
Proceeds from sale of data centers			165,600
Receivables acquired in sale of asset			$ 5,900
AMER 1 Joint Venture
Long Lived Assets Held-for-sale [Line Items]
Ownership percentage	20%				20%
Equity method investments	$ 8,400				$ 8,400
AMER 1 Joint Venture \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Mexico 3 ("MX3") Data Center Site
Long Lived Assets Held-for-sale [Line Items]
Consideration	75,100
Proceeds from sale of data centers	63,900
Receivables acquired in sale of asset	$ 2,800

Equity Method Investments - Sch

Equity Method Investments - Schedule of Equity Method Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 371,995	$ 348,145
EMEA 1 Joint Venture with GIC
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	20%
Equity method investments	$ 154,954	148,895
VIE Joint Ventures \| Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	20%
Equity method investments	$ 206,327	191,680
Other
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 10,714	$ 7,570

Equity Method Investments - Nar

Equity Method Investments - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Apr. 06, 2022
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 371,995	$ 348,145
EMEA 1 Joint Venture
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 154,954	$ 148,895
Ownership Percentage	20%
EMEA 1 Joint Venture \| Equity Contribution Commitment
Schedule of Equity Method Investments [Line Items]
Equity contribution commitment	$ 7,900
Asia-Pacific 3 Joint Venture
Schedule of Equity Method Investments [Line Items]
Equity method investments			$ 17,000
Ownership Percentage			20%

Equity Method Investments - S_2

Equity Method Investments - Schedule of Maximum Exposure Loss (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Equity Investment	$ 371,995	$ 348,145
VIE Joint Ventures \| Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Equity Investment	206,327	$ 191,680
Outstanding Receivables	13,594
Future Equity Contribution Commitments	41,014
Total	$ 343,343
Ownership Percentage	20%
VIE Joint Ventures \| Variable Interest Entity, Not Primary Beneficiary \| EMEA 2 Joint Venture Credit Facility
Variable Interest Entity [Line Items]
Maximum Future Payments under Debt Guarantees	$ 82,408
EMEA 2 Joint Venture \| Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Ownership Percentage	20%
EMEA 2 Joint Venture \| Variable Interest Entity, Not Primary Beneficiary \| EMEA 2 Joint Venture Credit Facility
Variable Interest Entity [Line Items]
Maximum Future Payments under Debt Guarantees	$ 82,400
Percentage guarantee on debt payments	0.20

Equity Method Investments - Sum

Equity Method Investments - Summary of Gains (Losses) of Joint Venture Arrangements (Details) - Joint Venture - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
EMEA 1 Joint Venture
Related Party Transaction [Line Items]
Revenues	$ 7,041	$ 6,302
Expenses	$ 1,657	4,328
EMEA 1 Joint Venture \| Sublease, Equinix's London 10-2 Data Center
Related Party Transaction [Line Items]
Sublease, lease term (in years)	15 years
VIE Joint Ventures \| Variable Interest Entity, Not Primary Beneficiary
Related Party Transaction [Line Items]
Revenues	$ 21,803	$ 7,003

Equity Method Investments - S_3

Equity Method Investments - Summary of Assets and Liabilities from Related Party Transactions with the Joint Ventures (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Finance Lease Right of Use Assets	$ 1,978,005	$ 2,018,070
Finance Lease Right of Use Liabilities	2,260,577
Joint Venture \| Variable Interest Entity, Not Primary Beneficiary
Related Party Transaction [Line Items]
Receivables	13,594	19,935
Contract Assets	19,561	5,281
Deferred Revenue	2,916	0
EMEA 1 Joint Venture \| Joint Venture
Related Party Transaction [Line Items]
Receivables	23,645	73,929
Contract Assets	7,367	7,261
Finance Lease Right of Use Assets	100,934	100,968
Other Liabilities and Payables	40,352	1,193
Other Liabilities and Payables - construction obligation	0	18,967
Deferred Revenue	17,818	15,470
Finance Lease Right of Use Liabilities	$ 110,007	$ 108,603

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Narrative (Detail)	Mar. 31, 2023 USD ($)	Mar. 31, 2023 JPY (¥)	Dec. 31, 2022 USD ($)
Designated as hedging instruments: \| Cross Currency Interest Rate Contract
Derivative [Line Items]
Derivative, notional amount	$ 3,900,000,000		$ 3,900,000,000
Not Designated as Hedging Instruments \| Foreign currency forward contracts
Derivative [Line Items]
Derivative, notional amount	2,200,000,000		3,000,000,000
Net Investment Hedges \| Designated as hedging instruments:
Derivative [Line Items]
Derivative, notional amount	1,500,000,000		1,500,000,000
Net Investment Hedges \| Designated as hedging instruments: \| Foreign Exchange Forward
Derivative [Line Items]
Derivative, notional amount	373,400,000		373,400,000
Cash Flow Hedges \| Foreign currency forward and option contracts
Derivative [Line Items]
Derivative, notional amount	570,400,000		490,800,000
Net (loss) gain to be reclassified within the next 12 months	(8,200,000)		8,200,000
Cash Flow Hedges \| Interest rate locks
Derivative [Line Items]
Derivative, notional amount		¥ 77,300,000,000	0
Net gain to be reclassified within the next 12 months, interest rate cash flow hedge	1,100,000		1,400,000
Cash Flow Hedges \| Designated as hedging instruments: \| Interest rate locks
Derivative [Line Items]
Derivative, notional amount	$ 280,300,000		$ 280,300,000

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Net investment Hedges (Details) - Net Investment Hedges - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Amount of gain or (loss) recognized in accumulated other comprehensive income:
Total	$ (39,960)	$ 91,358
Amount of gain or (loss) recognized in earnings:
Amount of gain or (loss) excluded from effectiveness testing included in income	12,077	12,547
Foreign currency debt
Amount of gain or (loss) recognized in accumulated other comprehensive income:
Gain (loss) recognized in accumulated other comprehensive income (included component)	(23,610)	45,061
Cross-currency Interest Rate Swap
Amount of gain or (loss) recognized in accumulated other comprehensive income:
Gain (loss) recognized in accumulated other comprehensive income (included component)	(39,911)	122,030
Gain (loss) recognized in accumulated other comprehensive income (excluded component)	23,961	(72,108)
Amount of gain or (loss) recognized in earnings:
Amount of gain or (loss) excluded from effectiveness testing included in income	12,229	12,578
Foreign currency forward contracts
Amount of gain or (loss) recognized in accumulated other comprehensive income:
Gain (loss) recognized in accumulated other comprehensive income (included component)	(1,048)	(2,949)
Gain (loss) recognized in accumulated other comprehensive income (excluded component)	648	(676)
Amount of gain or (loss) recognized in earnings:
Amount of gain or (loss) excluded from effectiveness testing included in income	$ (152)	$ (31)

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Cash Flow Hedges (Details) - Cash Flow Hedges - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income:	$ (18,957)	$ 68,764
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income:	9,395	1,175
Foreign currency forward and option contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income:	(12,453)	18,322
Cross-currency interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income:	(2,396)	0
Interest rate locks
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) recognized in accumulated other comprehensive income:	(4,108)	50,442
Interest rate locks \| Interest Expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income:	320	(1,076)
Foreign exchange forward \| Revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income:	12,296	3,563
Foreign exchange forward \| Costs and operating expenses
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income to income:	$ (3,221)	$ (1,312)

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	$ 10,707	$ (3,021)
Embedded derivatives \| Revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	0	(568)
Economic hedge of embedded derivatives \| Revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	0	(983)
Foreign currency forward contracts \| Other income (expense)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives not designated as hedging instruments, gain (loss)	$ 10,707	$ (1,470)

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities - Fair Value of Derivative Instruments (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	$ 345,178	$ 404,592
Liabilities	44,445	33,688
Designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	317,781	346,362
Liabilities	22,436	26,157
Designated as hedging instruments: \| Foreign currency forward and option contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	8,639	27,812
Liabilities	16,968	21,352
Designated as hedging instruments: \| Interest rate locks
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	25,679	19,239
Liabilities	0	0
Designated as hedging instruments: \| Cross-currency interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	258,284	274,234
Liabilities	0	0
Designated as hedging instruments: \| Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	25,179	25,077
Liabilities	5,468	4,805
Not designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	27,397	58,230
Liabilities	22,009	7,531
Not designated as hedging instruments: \| Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets	27,397	58,230
Liabilities	$ 22,009	$ 7,531

Derivatives and Hedging Activ_8

Derivatives and Hedging Activities - Offsetting Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Derivative assets
Gross Amounts	$ 372,836	$ 424,516
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts	372,836	424,516
Gross Amounts not Offset in the Balance Sheet	(50,820)	(34,429)
Net	322,016	390,087
Derivative liabilities
Gross Amounts	59,156	39,234
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts	59,156	39,234
Gross Amounts not Offset in the Balance Sheet	(50,820)	(34,429)
Net	$ 8,336	$ 4,805

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Recurring - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets:
Derivative instruments	$ 345,178	$ 404,592
Total financial assets	1,940,618	1,169,220
Liabilities:
Derivative instruments	44,445	33,688
Money market and deposit accounts
Assets:
Cash and cash equivalents	1,595,440	764,628
Level 1
Assets:
Derivative instruments	0	0
Total financial assets	1,595,440	764,628
Liabilities:
Derivative instruments	0	0
Level 1 \| Money market and deposit accounts
Assets:
Cash and cash equivalents	1,595,440	764,628
Level 2
Assets:
Derivative instruments	345,178	404,592
Total financial assets	345,178	404,592
Liabilities:
Derivative instruments	44,445	33,688
Level 2 \| Money market and deposit accounts
Assets:
Cash and cash equivalents	$ 0	$ 0

Leases - Lease Expenses (Detail

Leases - Lease Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
Leases - Lease Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Finance lease cost
Amortization of right-of-use assets	$ 42,530	$ 40,123
Interest on lease liabilities	28,222	28,887
Total finance lease cost	70,752	69,010
Operating lease cost	53,406	51,630
Variable lease cost	12,808	7,616
Total lease cost	$ 136,966	$ 128,256

Leases - Other Information (Det

Leases - Other Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$ 27,452	$ 28,297
Operating cash flows from operating leases	52,227	47,970
Financing cash flows from finance leases	35,498	40,773
Right-of-use assets obtained in exchange for lease obligations:
Finance leases	216	26,339
Operating leases	$ 5,286	$ 7,400
Weighted-average remaining lease term - finance leases	14 years		15 years
Weighted-average remaining lease term - operating leases	12 years		12 years
Weighted-average discount rate - finance leases	6%		6%
Weighted-average discount rate - operating leases	4%		4%
Finance lease right-of-use assets	$ 1,978,005		$ 2,018,070
Accumulated amortization, finance lease, right-of-use asset	$ 873,700		$ 840,000

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Operating Leases
2023 (9 months remaining)	$ 132,066
2024	192,566
2025	186,010
2026	181,221
2027	158,467
Thereafter	1,020,904
Total lease payments	1,871,234
Less imputed interest	(489,605)
Total	1,381,629
Finance Leases
2023 (9 months remaining)	196,644
2024	258,510
2025	277,003
2026	245,510
2027	248,524
Thereafter	2,193,035
Total lease payments	3,419,226
Less imputed interest	(1,158,649)
Total	2,260,577
Total
2023 (9 months remaining)	328,710
2024	451,076
2025	463,013
2026	426,731
2027	406,991
Thereafter	3,213,939
Total lease payments	5,290,460
Less imputed interest	(1,648,254)
Total	3,642,206
Lessee, Lease, Description [Line Items]
Operating and finance leases not yet commenced, liability	$ 468,100
Minimum
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term	2 years
Maximum
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term	20 years

Debt Facilities - Mortgage and

Debt Facilities - Mortgage and Loans Payable (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Loans payable, gross	$ 664,107	$ 653,617
Less amount representing unamortized debt discount and debt issuance cost	(1,003)	(1,062)
Loans payable current and non current	663,104	652,555
Less current portion	(9,869)	(9,847)
Mortgage and loans payable, less current portion	653,235	642,708
Term loans
Debt Instrument [Line Items]
Loans payable, gross	631,055	619,090
Mortgage payable and loans payable
Debt Instrument [Line Items]
Loans payable, gross	$ 33,052	$ 34,527

Debt Facilities - Additional In

Debt Facilities - Additional Information (Details)			3 Months Ended
Debt Facilities - Additional Information (Details)	Jan. 07, 2022 USD ($)	Jan. 07, 2022 GBP (£)	Mar. 31, 2023 USD ($) credit	Mar. 31, 2022 USD ($)	Mar. 08, 2023 USD ($)	Mar. 08, 2023 JPY (¥)	Feb. 16, 2023 USD ($)	Feb. 16, 2023 JPY (¥)	Dec. 31, 2022 USD ($)	Apr. 05, 2022 USD ($)	Jan. 07, 2022 GBP (£)
Debt Instrument [Line Items]
Amount outstanding under the term loan facility, net			$ 13,489,822,000
Amount of debt discounts and debt issuance costs			1,003,000						$ 1,062,000
Interest paid, net of capitalized interest			98,400,000	$ 99,600,000
Senior Notes
Debt Instrument [Line Items]
Debt issuance cost, net			117,863,000						117,351,000
Amount outstanding under the term loan facility, net			$ 12,707,851,000						12,109,539,000
2022 Senior Credit Facility \| Line of Credit \| Minimum
Debt Instrument [Line Items]
Quarterly facility fee percentage			0.07%
2022 Senior Credit Facility \| Line of Credit \| Minimum \| SOFR
Debt Instrument [Line Items]
Variable rate (percent)			0.555%
2022 Senior Credit Facility \| Line of Credit \| Minimum \| SONIA
Debt Instrument [Line Items]
Variable rate (percent)			0.625%
2022 Senior Credit Facility \| Line of Credit \| Maximum
Debt Instrument [Line Items]
Quarterly facility fee percentage			0.25%
2022 Senior Credit Facility \| Line of Credit \| Maximum \| SOFR
Debt Instrument [Line Items]
Variable rate (percent)			1.20%
2022 Senior Credit Facility \| Line of Credit \| Maximum \| SONIA
Debt Instrument [Line Items]
Variable rate (percent)			1.45%
3.900% Senior Notes due 2032 \| Senior Notes
Debt Instrument [Line Items]
Interest rate (percent)			3.90%							3.90%
Aggregate principal debt amount issued										$ 1,200,000,000
Amount of debt discounts and debt issuance costs										$ 16,300,000
2.000% Japanese Yen Senior Notes Series A due 2035 \| Senior Notes
Debt Instrument [Line Items]
Interest rate (percent)			2%		2%	2%
Aggregate principal debt amount issued					$ 274,700,000	¥ 37,700,000,000
Amount of debt discounts and debt issuance costs					$ 2,000,000
2.370% Japanese Yen Senior Notes Series B due 2043 \| Senior Notes
Debt Instrument [Line Items]
Interest rate (percent)			2.37%		2.37%	2.37%
Aggregate principal debt amount issued					$ 74,600,000	¥ 10,200,000,000
Amount of debt discounts and debt issuance costs					$ 600,000
2.130% Japanese Yen Senior Notes Series C due 2035 \| Senior Notes
Debt Instrument [Line Items]
Interest rate (percent)			2.13%		2.13%	2.13%
Aggregate principal debt amount issued					$ 107,900,000	¥ 14,800,000,000
Amount of debt discounts and debt issuance costs					800,000
2.570% Japanese Yen Senior Notes Series E due 2043 \| Senior Notes
Debt Instrument [Line Items]
Interest rate (percent)			2.57%				2.57%	2.57%
Aggregate principal debt amount issued							$ 74,500,000	¥ 10,000,000,000
Amount of debt discounts and debt issuance costs					$ 600,000
2.570% Japanese Yen Senior Notes Series D due 2043 \| Senior Notes
Debt Instrument [Line Items]
Interest rate (percent)			2.57%		2.57%	2.57%
Aggregate principal debt amount issued					$ 33,500,000	¥ 4,600,000,000
Amount of debt discounts and debt issuance costs					$ 300,000
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Amount available to borrow			$ 3,900,000,000
Revolving Credit Facility \| 2022 Senior Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Borrowing capacity	$ 4,000,000,000
Debt issuance cost, net	6,500,000
Term loans \| Line of Credit
Debt Instrument [Line Items]
Amount outstanding under the term loan facility, net			$ 615,900,000						$ 603,000,000
Term loans \| 2022 Senior Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Borrowing capacity \| £											£ 500,000,000
Debt issuance cost, net	800,000
Proceeds from lines of credit	676,900,000	£ 500,000,000
Term loans \| 2017 Senior Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Repayments of debt	$ 549,600,000
Letter of Credit \| Line of Credit
Debt Instrument [Line Items]
Numbers of letters of credit outstanding \| credit			60
Letters of credit outstanding, amount			$ 83,500,000

Debt Facilities - Senior Notes

Debt Facilities - Senior Notes (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 08, 2023	Feb. 16, 2023	Dec. 31, 2022	Apr. 05, 2022
Debt Instrument [Line Items]
Total long term debt	$ 13,489,822
Senior Notes
Debt Instrument [Line Items]
Long term debt, gross	12,825,714			$ 12,226,890
Less amount representing unamortized debt issuance cost	(117,863)			(117,351)
Total long term debt	12,707,851			12,109,539
Senior Notes \| 2.625% Senior Notes due 2024
Debt Instrument [Line Items]
Long term debt, gross	$ 1,000,000			$ 1,000,000
Effective interest rate	2.79%			2.79%
Interest rate (percent)	2.625%
Senior Notes \| 1.250% Senior Notes due 2025
Debt Instrument [Line Items]
Long term debt, gross	$ 500,000			$ 500,000
Effective interest rate	1.46%			1.46%
Interest rate (percent)	1.25%
Senior Notes \| 1.000% Senior Notes due 2025
Debt Instrument [Line Items]
Long term debt, gross	$ 700,000			$ 700,000
Effective interest rate	1.18%			1.18%
Interest rate (percent)	1%
Senior Notes \| 2.900% Senior Notes due 2026
Debt Instrument [Line Items]
Long term debt, gross	$ 600,000			$ 600,000
Effective interest rate	3.04%			3.04%
Interest rate (percent)	2.90%
Senior Notes \| 1.450% Senior Notes due 2026
Debt Instrument [Line Items]
Long term debt, gross	$ 700,000			$ 700,000
Effective interest rate	1.64%			1.64%
Interest rate (percent)	1.45%
Senior Notes \| 0.250% Euro Senior Notes due 2027
Debt Instrument [Line Items]
Long term debt, gross	$ 542,750			$ 534,950
Effective interest rate	0.45%			0.45%
Interest rate (percent)	0.25%
Senior Notes \| 1.800% Senior Notes due 2027
Debt Instrument [Line Items]
Long term debt, gross	$ 500,000			$ 500,000
Effective interest rate	1.96%			1.96%
Interest rate (percent)	1.80%
Senior Notes \| 1.550% Senior Notes due 2028
Debt Instrument [Line Items]
Long term debt, gross	$ 650,000			$ 650,000
Effective interest rate	1.67%			1.67%
Interest rate (percent)	1.55%
Senior Notes \| 2.000% Senior Notes due 2028
Debt Instrument [Line Items]
Long term debt, gross	$ 400,000			$ 400,000
Effective interest rate	2.21%			2.21%
Interest rate (percent)	2%
Senior Notes \| 3.200% Senior Notes due 2029
Debt Instrument [Line Items]
Long term debt, gross	$ 1,200,000			$ 1,200,000
Effective interest rate	3.30%			3.30%
Interest rate (percent)	3.20%
Senior Notes \| 2.150% Senior Notes due 2030
Debt Instrument [Line Items]
Long term debt, gross	$ 1,100,000			$ 1,100,000
Effective interest rate	2.27%			2.27%
Interest rate (percent)	2.15%
Senior Notes \| 2.500% Senior Notes due 2031
Debt Instrument [Line Items]
Long term debt, gross	$ 1,000,000			$ 1,000,000
Effective interest rate	2.65%			2.65%
Interest rate (percent)	2.50%
Senior Notes \| 3.900% Senior Notes due 2032
Debt Instrument [Line Items]
Long term debt, gross	$ 1,200,000			$ 1,200,000
Effective interest rate	4.07%			4.07%
Interest rate (percent)	3.90%				3.90%
Senior Notes \| 1.000% Euro Senior Notes due 2033
Debt Instrument [Line Items]
Long term debt, gross	$ 651,300			$ 641,940
Effective interest rate	1.18%			1.18%
Interest rate (percent)	1%
Senior Notes \| 2.000% Japanese Yen Senior Notes Series A due 2035
Debt Instrument [Line Items]
Long term debt, gross	$ 283,381			$ 0
Effective interest rate	2.07%			0%
Interest rate (percent)	2%	2%
Senior Notes \| 2.130% Japanese Yen Senior Notes Series C due 2035
Debt Instrument [Line Items]
Long term debt, gross	$ 111,395			$ 0
Effective interest rate	2.20%			0%
Interest rate (percent)	2.13%	2.13%
Senior Notes \| 2.370% Japanese Yen Senior Notes Series B due 2043
Debt Instrument [Line Items]
Long term debt, gross	$ 76,998			$ 0
Effective interest rate	2.42%			0%
Interest rate (percent)	2.37%	2.37%
Senior Notes \| 2.570% Japanese Yen Senior Notes Series D due 2043
Debt Instrument [Line Items]
Long term debt, gross	$ 34,623			$ 0
Effective interest rate	2.62%			0%
Interest rate (percent)	2.57%	2.57%
Senior Notes \| 2.570% Japanese Yen Senior Notes Series E due 2043
Debt Instrument [Line Items]
Long term debt, gross	$ 75,267			$ 0
Effective interest rate	2.62%			0%
Interest rate (percent)	2.57%		2.57%
Senior Notes \| 3.000% Senior Notes due 2050
Debt Instrument [Line Items]
Long term debt, gross	$ 500,000			$ 500,000
Effective interest rate	3.09%			3.09%
Interest rate (percent)	3%
Senior Notes \| 2.950% Senior Notes due 2051
Debt Instrument [Line Items]
Long term debt, gross	$ 500,000			$ 500,000
Effective interest rate	3%			3%
Interest rate (percent)	2.95%
Senior Notes \| 3.400% Senior Notes due 2052
Debt Instrument [Line Items]
Long term debt, gross	$ 500,000			$ 500,000
Effective interest rate	3.50%			3.50%
Interest rate (percent)	3.40%

Debt Facilities - Summary of Ma

Debt Facilities - Summary of Maturities of Debt Instruments (Detail) $ in Thousands	Mar. 31, 2023 USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2023 (9 months remaining)	$ 7,427
2024	1,009,455
2025	1,208,082
2026	1,307,661
2027	1,664,907
Thereafter	8,292,290
Total long term debt	$ 13,489,822

Debt Facilities - Fair Value of

Debt Facilities - Fair Value of Debt Instruments (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Mortgage and loans payable	$ 675,443	$ 666,387
Senior notes	11,042,035	10,196,933
Level 1
Debt Instrument [Line Items]
Mortgage and loans payable	0	0
Senior notes	10,437,543	10,196,933
Level 2
Debt Instrument [Line Items]
Mortgage and loans payable	675,443	666,387
Senior notes	$ 604,492	$ 0

Debt Facilities - Interest Char

Debt Facilities - Interest Charges (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Debt Disclosure [Abstract]
Interest expense	$ 97,481	$ 79,965
Interest capitalized	5,533	4,420
Interest charges incurred	$ 103,014	$ 84,385

Commitments and Contingencies (

Commitments and Contingencies (Detail)	Mar. 31, 2023 USD ($)
Other Commitments [Line Items]
Severance payment percent, scenario one	100%
Severance payment percent, scenario two	200%
Severance payment percent, scenario three	200%
EMEA 2 Joint Venture \| Variable Interest Entity, Not Primary Beneficiary
Other Commitments [Line Items]
Ownership percentage	20%
EMEA 2 Joint Venture \| EMEA 2 Joint Venture Credit Facility \| Variable Interest Entity, Not Primary Beneficiary
Other Commitments [Line Items]
Borrowing capacity	$ 1,200,000,000
Percentage guarantee on debt payments	0.20
Maximum guarantee under credit facility arrangement	$ 251,500,000
Maximum future payments under debt guarantees	82,400,000
Indemnification Agreement
Other Commitments [Line Items]
Liabilities under guarantor agreements	0
Indemnification Agreement Two
Other Commitments [Line Items]
Liabilities under guarantor agreements	0
Indemnification Agreement Three
Other Commitments [Line Items]
Liabilities under guarantor agreements	0
Service Level Credits Agreement
Other Commitments [Line Items]
Liabilities under guarantor agreements	0
Capital Expenditures
Other Commitments [Line Items]
Purchase commitments	2,000,000,000
Miscellaneous Purchase Commitments
Other Commitments [Line Items]
Purchase commitments	$ 2,000,000,000

Stockholders' Equity - Rollforw

Stockholders' Equity - Rollforward (Details) $ in Thousands	3 Months Ended
Stockholders' Equity - Rollforward (Details) $ in Thousands	Mar. 31, 2023 USD ($) plan shares	Mar. 31, 2022 USD ($) shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares) \| shares	92,620,703
Beginning balance	$ 11,505,832	$ 10,881,764
Treasury stock beginning balance (in shares) \| shares	(193,273)
Net income	$ 258,730	147,693
Other comprehensive income (loss)	104,258	32,840
Issuance of common stock and release of treasury stock for employee equity awards	44,544	43,876
Dividend distribution on common stock	(318,736)	(282,031)
Settlement of accrued dividends on vested equity awards	(483)	(497)
Accrued dividends on unvested equity awards	(2,406)	(2,045)
Stock-based compensation, net of estimated forfeitures	$ 136,345	121,210
Ending balance (in shares) \| shares	93,514,718
Ending balance	$ 12,028,859	10,942,810
Treasury stock ending balance (in shares) \| shares	(177,207)
Number of defined benefit pension plans \| plan	2
ATM Program
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock	$ 300,775
Equinix Stockholders' Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	11,505,966	10,882,082
Net income	258,786	147,453
Other comprehensive income (loss)	104,258	32,837
Issuance of common stock and release of treasury stock for employee equity awards	44,543	43,876
Dividend distribution on common stock	(318,736)	(282,031)
Settlement of accrued dividends on vested equity awards	(483)	(497)
Accrued dividends on unvested equity awards	(2,406)	(2,045)
Stock-based compensation, net of estimated forfeitures	136,345	121,210
Ending balance	12,029,048	$ 10,942,885
Equinix Stockholders' Equity \| ATM Program
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock	$ 300,775
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares) \| shares	92,813,976	90,872,826
Beginning balance	$ 93	$ 91
Issuance of common stock and release of treasury stock for employee equity awards (in shares) \| shares	419,490	430,973
Ending balance (in shares) \| shares	93,691,925	91,303,799
Ending balance	$ 94	$ 91
Common Stock \| ATM Program
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock	$ 1
Issuance of common stock (in shares) \| shares	458,459
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ (71,966)	$ (112,208)
Treasury stock beginning balance (in shares) \| shares	(193,273)	(301,420)
Issuance of common stock and release of treasury stock for employee equity awards (in shares) \| shares	16,066	11,445
Issuance of common stock and release of treasury stock for employee equity awards	$ 5,978	$ 4,259
Ending balance	$ (65,988)	$ (107,949)
Treasury stock ending balance (in shares) \| shares	(177,207)	(289,975)
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 17,320,017	$ 15,984,597
Issuance of common stock and release of treasury stock for employee equity awards	38,565	39,617
Stock-based compensation, net of estimated forfeitures	136,345	121,210
Ending balance	17,795,701	16,145,424
Additional Paid-in Capital \| ATM Program
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock	300,774
Accumulated Dividends
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(7,317,570)	(6,165,140)
Dividend distribution on common stock	(318,736)	(282,031)
Settlement of accrued dividends on vested equity awards	(483)	(497)
Accrued dividends on unvested equity awards	(2,406)	(2,045)
Ending balance	(7,639,195)	(6,449,713)
AOCI (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(1,389,446)	(1,085,751)
Other comprehensive income (loss)	104,258	32,837
Ending balance	(1,285,188)	(1,052,914)
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	2,964,838	2,260,493
Net income	258,786	147,453
Ending balance	3,223,624	2,407,946
Non-controlling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(134)	(318)
Net income	(56)	240
Other comprehensive income (loss)	0	3
Issuance of common stock and release of treasury stock for employee equity awards	1
Ending balance	$ (189)	$ (75)

Stockholders' Equity - Rollfo_2

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

Stockholders' Equity - Componen

Stockholders' Equity - Components of Accumulated Other Comprehensive Loss (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) country	Mar. 31, 2022 USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 11,505,832	$ 10,881,764
Net Change	104,258	32,840
Ending balance	$ 12,028,859	10,942,810
Number of countries with a defined benefit pension plan \| country	2
Accumulated other comprehensive loss attributable to Equinix
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ (1,389,446)	(1,085,751)
Net Change	104,258	32,837
Ending balance	(1,285,188)	$ (1,052,914)
Foreign currency translation adjustment ("CTA") gain (loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1,838,237)
Net Change	157,214
Ending balance	(1,681,023)
Unrealized gain (loss) on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	33,953
Net Change	(12,881)
Ending balance	21,072
Net investment hedge CTA gain (loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	415,749
Net Change	(39,960)
Ending balance	375,789
Net actuarial loss on defined benefit plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(911)
Net Change	(115)
Ending balance	$ (1,026)

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Detail)			1 Months Ended	3 Months Ended
Stockholders' Equity - Narrative (Detail)	Feb. 28, 2023 USD ($) $ / shares	Aug. 03, 2022 USD ($) $ / shares	Feb. 28, 2022 alternative	Mar. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 agreement shares	Nov. 30, 2022 USD ($)	Jun. 30, 2022 agreement	Oct. 31, 2020 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of forward sale agreements \| agreement					3
Sale of stock, number of shares authorized (in shares) \| shares					458,459
Expected proceeds from sale of stock \| $	$ 301,600,000
Expected issuance of common stock, weighted average price (in dollars per share) \| $ / shares	$ 657.75
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, approved (in shares) \| shares				845,473
Weighted-average grant date fair value (in dollars per share) \| $ / shares				$ 685.99
Requisite service period (in years)				3 years 5 months 23 days
2020 ATM Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of stock, equity offering agreement, authorized \| $								$ 1,500,000,000
Sale of stock, number of shares authorized (in shares) \| shares				308,875	0
Sale of stock, equity offering agreement, available for sale \| $				$ 1,400,000,000
2022 ATM Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of stock, equity offering agreement, authorized \| $						$ 1,500,000,000
Sale of stock, number of shares authorized (in shares) \| shares				149,584
2020 ATM Program and Equity Forward Amendment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of settlement alternatives \| alternative			3
Equity Forward Amendment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of forward sale agreements \| agreement							5
Issuance of common stock, shares sold (in shares) \| shares				579,873
Gross proceeds from sale of stock \| $		$ 393,600,000
Issuance of common stock, weighted average price (in dollars per share) \| $ / shares		$ 678.72

Stockholders' Equity - Stock-Ba

Stockholders' Equity - Stock-Based Compensation Expense Recognized in Company's Condensed Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 98,715	$ 89,952
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	11,323	10,443
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	19,505	20,184
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 67,887	$ 59,325

Segment Information - Narrative

Segment Information - Narrative (Detail)	3 Months Ended
Segment Information - Narrative (Detail)	Mar. 31, 2023 segment line
Segment Reporting [Abstract]
Number of primary lines of business \| line	1
Number of reportable segments \| segment	3

Segment Information - Revenue I

Segment Information - Revenue Information on Services Basis (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue from External Customer [Line Items]
Revenues	$ 1,998,209	$ 1,734,447
Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	1,890,080	1,642,324
Colocation
Revenue from External Customer [Line Items]
Revenues	1,408,414	1,219,355
Interconnection
Revenue from External Customer [Line Items]
Revenues	336,807	309,230
Managed infrastructure
Revenue from External Customer [Line Items]
Revenues	111,247	100,854
Other
Revenue from External Customer [Line Items]
Revenues	33,612	12,885
Non-recurring revenues
Revenue from External Customer [Line Items]
Revenues	108,129	92,123
Americas
Revenue from External Customer [Line Items]
Revenues	882,375	800,421
Americas \| Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	838,469	757,630
Americas \| Colocation
Revenue from External Customer [Line Items]
Revenues	574,098	522,171
Americas \| Interconnection
Revenue from External Customer [Line Items]
Revenues	198,639	181,103
Americas \| Managed infrastructure
Revenue from External Customer [Line Items]
Revenues	60,860	49,222
Americas \| Other
Revenue from External Customer [Line Items]
Revenues	4,872	5,134
Americas \| Non-recurring revenues
Revenue from External Customer [Line Items]
Revenues	43,906	42,791
EMEA
Revenue from External Customer [Line Items]
Revenues	691,217	550,480
EMEA \| Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	644,841	520,113
EMEA \| Colocation
Revenue from External Customer [Line Items]
Revenues	515,611	414,569
EMEA \| Interconnection
Revenue from External Customer [Line Items]
Revenues	72,606	68,140
EMEA \| Managed infrastructure
Revenue from External Customer [Line Items]
Revenues	31,424	30,990
EMEA \| Other
Revenue from External Customer [Line Items]
Revenues	25,200	6,414
EMEA \| Non-recurring revenues
Revenue from External Customer [Line Items]
Revenues	46,376	30,367
Asia-Pacific
Revenue from External Customer [Line Items]
Revenues	424,617	383,546
Asia-Pacific \| Recurring Revenues
Revenue from External Customer [Line Items]
Revenues	406,770	364,581
Asia-Pacific \| Colocation
Revenue from External Customer [Line Items]
Revenues	318,705	282,615
Asia-Pacific \| Interconnection
Revenue from External Customer [Line Items]
Revenues	65,562	59,987
Asia-Pacific \| Managed infrastructure
Revenue from External Customer [Line Items]
Revenues	18,963	20,642
Asia-Pacific \| Other
Revenue from External Customer [Line Items]
Revenues	3,540	1,337
Asia-Pacific \| Non-recurring revenues
Revenue from External Customer [Line Items]
Revenues	$ 17,847	$ 18,965

Segment Information - Schedule

Segment Information - Schedule of Adjusted EBITDA (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Total adjusted EBITDA	$ 944,283	$ 799,712
Depreciation, amortization and accretion expense	(458,995)	(436,386)
Stock-based compensation expense	(98,715)	(89,952)
Transaction costs	(1,600)	(4,240)
Loss on asset sales	(852)	(1,818)
Interest income	19,388	2,106
Interest expense	(97,481)	(79,965)
Other income (expense)	7,503	(9,549)
Gain on debt extinguishment	254	529
Income before income taxes	313,785	180,437
Americas
Segment Reporting Information [Line Items]
Total adjusted EBITDA	405,087	356,555
EMEA
Segment Reporting Information [Line Items]
Total adjusted EBITDA	326,513	260,345
Asia-Pacific
Segment Reporting Information [Line Items]
Total adjusted EBITDA	$ 212,683	$ 182,812

Segment Information - Segment D

Segment Information - Segment Disclosures (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Total depreciation and amortization	$ 457,100	$ 435,340
Capital expenditures	529,600	412,518
Americas
Segment Reporting Information [Line Items]
Total depreciation and amortization	244,714	229,709
Capital expenditures	300,675	185,046
EMEA
Segment Reporting Information [Line Items]
Total depreciation and amortization	124,017	115,054
Capital expenditures	145,820	162,503
Asia-Pacific
Segment Reporting Information [Line Items]
Total depreciation and amortization	88,369	90,577
Capital expenditures	$ 83,105	$ 64,969

Segment Information - Long-Live

Segment Information - Long-Lived Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property, plant and equipment, net	$ 16,913,734	$ 16,649,534
Operating lease right-of-use assets	1,403,716	1,427,950
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property, plant and equipment, net	7,706,923	7,532,125
Operating lease right-of-use assets	252,022	263,148
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property, plant and equipment, net	5,727,022	5,577,498
Operating lease right-of-use assets	450,460	440,139
Asia-Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property, plant and equipment, net	3,479,789	3,539,911
Operating lease right-of-use assets	$ 701,234	$ 724,663

Subsequent Events (Details)

Subsequent Events (Details)	May 03, 2023 $ / shares
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared (in dollars per share)	$ 3.41