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SEC Filings

10-Q
EQUINIX INC filed this Form 10-Q on 11/02/2018
Entire Document
 
EQUINIX, INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
(Unaudited)

11.
Segment Information
While the Company has a single line of business, which is the design, build-out and operation of IBX data centers, it has determined that it has three reportable segments comprised of its Americas, EMEA and Asia-Pacific geographic regions. The Company's chief operating decision-maker evaluates performance, makes operating decisions and allocates resources based on the Company's revenues and adjusted EBITDA performance both on a consolidated basis and based on these three reportable segments. The Company defines adjusted EBITDA as income from operations excluding depreciation, amortization, accretion, stock-based compensation expense, restructuring charges, impairment charges, acquisition costs and gain on asset sales as presented below (in thousands):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2018
 
2017
 
2018
 
2017
Adjusted EBITDA:
 
 
 
 
 
 
 
Americas
$
296,003

 
$
292,101

 
$
881,507

 
$
748,871

EMEA
179,797

 
146,464

 
516,790

 
417,640

Asia-Pacific
136,726

 
111,754

 
397,748

 
320,690

Total adjusted EBITDA
612,526

 
550,319

 
1,796,045

 
1,487,201

Depreciation, amortization and accretion expense
(306,318
)
 
(277,719
)
 
(921,611
)
 
(749,118
)
Stock-based compensation expense
(47,588
)
 
(45,654
)
 
(139,849
)
 
(129,602
)
Acquisition costs
1,120

 
(2,083
)
 
(33,932
)
 
(31,510
)
Gain on asset sale
6,013

 

 
6,013

 

Income from operations
$
265,753

 
$
224,863

 
$
706,666

 
$
576,971

 
The Company also provides the following additional segment disclosures (in thousands):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2018
 
2017
 
2018
 
2017
Depreciation and amortization:
 
 
 
 
 
 
 
Americas
$
157,458

 
$
151,072

 
$
474,958

 
$
363,341

EMEA
88,813

 
75,276

 
270,585

 
230,406

Asia-Pacific
59,455

 
52,063

 
175,082

 
156,456

Total
$
305,726

 
$
278,411

 
$
920,625

 
$
750,203

Capital expenditures:
 
 
 
 
 
 
 
Americas
$
226,127

 
$
151,310

 
$
573,733

 
$
465,424

EMEA
238,372

 
112,578

 
615,140

 
347,647

Asia-Pacific
81,042

 
56,346

 
226,636

 
132,977

Total
$
545,541

 
$
320,234

 
$
1,415,509

 
$
946,048

The Company's long-lived assets are located in the following geographic areas as of (in thousands):
 
September 30,
2018
 
December 31,
2017
Americas
$
4,949,906

 
$
4,425,077

EMEA
3,602,758

 
3,265,088

Asia-Pacific
2,130,162

 
1,704,437

Total long-lived assets
$
10,682,826

 
$
9,394,602

 

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