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SEC Filings

424B5
EQUINIX INC filed this Form 424B5 on 02/28/2019
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Table of Contents

Summary Consolidated Financial Data

The following tables summarize our consolidated financial data for the periods presented. You should read this summary consolidated financial data in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our consolidated financial statements and the related notes thereto in our most recent Annual Report on Form 10-K, which is incorporated by reference in this prospectus supplement and the accompanying prospectus. The consolidated statements of operations, consolidated statements of cash flow, and consolidated balance sheet data for the years ended December 31, 2016, 2017 and 2018 were derived from our audited consolidated financial statements incorporated by reference in this prospectus supplement and the accompanying prospectus. Our historical results are not necessarily indicative of the results to be expected in the future.

Effective January 1, 2018, we adopted Accounting Standards Codification Topic 606, Revenue from Contracts with Customers, using the modified retrospective approach. The information contained in the table below for the year ended December 31, 2018 has been presented under Topic 606, while the comparative information has not been restated and continues to be reported under accounting standards in effect for those periods. See Note 1 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2018, which is incorporated by reference in this prospectus supplement and the accompanying prospectus.

 

     Years Ended December 31,  
     2016     2017     2018  
     (In thousands)  

Consolidated Statement of Operations Data:

      

Revenues

   $ 3,611,989     $ 4,368,428     $ 5,071,654  
  

 

 

   

 

 

   

 

 

 

Costs and operating expenses:

      

Cost of revenues

     1,820,870       2,193,149       2,605,475  

Sales and marketing

     438,742       581,724       633,702  

General and administrative

     694,561       745,906       826,694  

Acquisition costs

     64,195       38,635       34,413  

Impairment charges

     7,698       —         —    

Gain on asset sales

     (32,816     —         (6,013
  

 

 

   

 

 

   

 

 

 

Total costs and operating expenses

     2,993,250       3,559,414       4,094,271  
  

 

 

   

 

 

   

 

 

 

Income from operations

     618,739       809,014       977,383  

Interest income

     3,476       13,075       14,482  

Interest expense

     (392,156     (478,698     (521,494

Other income (expense)

     (57,924     9,213       14,044  

Loss on debt extinguishment

     (12,276     (65,772     (51,377
  

 

 

   

 

 

   

 

 

 

Income from continuing operations before income taxes

     159,859       286,832       433,038  

Income tax expense

     (45,451     (53,850     (67,679
  

 

 

   

 

 

   

 

 

 

Net income from continuing operations

     114,408       232,982       365,359  

Net income from discontinued operations, net of tax

     12,392       —         —    
  

 

 

   

 

 

   

 

 

 

Net income

   $ 126,800     $ 232,982     $ 365,359  
  

 

 

   

 

 

   

 

 

 

Consolidated Statement of Cash Flow Data:

      

Net cash provided by operating activities

   $ 1,019,353     $ 1,439,233     $ 1,815,426  

Net cash used in investing activities

     (2,045,668     (5,400,826     (3,075,528

Net cash provided by (used in) financing activities

     (897,065     4,607,860       470,912  

Other Financial Data (non-GAAP)(1):

      

Adjusted EBITDA

   $ 1,657,474     $ 2,052,041     $ 2,413,240  


 

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