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SEC Filings

424B5
EQUINIX INC filed this Form 424B5 on 02/28/2019
Entire Document
 


Table of Contents
     December 31, 2018  
     (In thousands)  

Consolidated Balance Sheet Data:

  

Cash, cash equivalents and short-term investments

   $ 610,706  

Accounts receivable, net

     630,119  

Property, plant and equipment, net

     11,026,020  

Total assets

     20,244,638  

Current portion of capital lease and other financing obligations

     77,844  

Current portion of mortgage and loans payable

     73,129  

Current portion of senior notes

     300,999  

Capital lease and other financing obligations, less current portion

     1,441,077  

Mortgage and loans payable, less current portion

     1,310,663  

Senior notes, less current portion

     8,128,785  

Total debt(2)

     11,332,497  

Total liabilities

     13,025,359  

Total stockholders’ equity

     7,219,279  

 

(1) 

Adjusted EBITDA is a non-GAAP financial measure. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2018, which is incorporated by reference in this prospectus supplement.

(2) 

Total debt includes debt (net of premiums, discounts, and debt issuance costs), capital leases and other financing obligations.

We have presented Adjusted EBITDA, which is a non-GAAP financial measure, to provide investors with an additional tool to evaluate our operating results in a manner that focuses on what management believes to be our core, ongoing business operations. We believe that the inclusion of Adjusted EBITDA provides consistency and comparability with past reports and provides a better understanding of the overall performance of the business and ability to perform in subsequent periods.

We define 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. The following table presents a reconciliation of income from operations, the most directly comparable financial measure calculated and presented in accordance with GAAP, to Adjusted EBITDA for each of the periods indicated:

 

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

Income from operations

   $ 618,739      $ 809,014      $ 977,383  

Depreciation, amortization, and accretion expense

     843,510        1,028,892        1,226,741  

Stock-based compensation expense

     156,148        175,500        180,716  

Acquisition costs

     64,195        38,635        34,413  

Impairment charges

     7,698        —          —    

Gain on asset sales

     (32,816      —          (6,013
  

 

 

    

 

 

    

 

 

 

Adjusted EBITDA

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

 

 

    

 

 

    

 

 

 

Investors should note that Adjusted EBITDA used by us may not be calculated in the same manner as similarly titled financial measures of other companies. Investors should therefore exercise caution when comparing Adjusted EBITDA used by us to similarly titled financial measures of other companies.



 

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