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SEC Filings

10-Q
EQUINIX INC filed this Form 10-Q on 05/03/2019
Entire Document
 
EQUINIX, INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
(Unaudited)

Maturities of Lease Liabilities
Maturities of lease liabilities under Topic 842 as of March 31, 2019 are as follows (in thousands):
 
Operating leases
 
Finance leases
 
Total
2019 (9 months remaining)
$
136,590

 
$
113,850

 
$
250,440

2020
192,859

 
158,582

 
351,441

2021
179,696

 
157,629

 
337,325

2022
172,042

 
158,349

 
330,391

2023
156,559

 
159,578

 
316,137

Thereafter
1,162,046

 
1,601,646

 
2,763,692

Total lease payments
1,999,792

 
2,349,634

 
4,349,426

Plus amount representing residual property value

 
18,654

 
18,654

Less amount representing interest
(551,108
)
 
(1,146,030
)
 
(1,697,138
)
Total
$
1,448,684

 
$
1,222,258

 
$
2,670,942

For the year ended December 31, 2018, the Company's operating lease, capital lease and other financing obligations under ASC Topic 840 are summarized as follows (in thousands):
 
Capital Lease
Obligations
 
Other
Financing
Obligations (1)
 
Total Capital Lease and Other Financing Obligations
 
Operating Leases
2019
$
103,859

 
$
80,292

 
$
184,151

 
$
187,280

2020
97,326

 
73,266

 
170,592

 
179,515

2021
95,414

 
73,672

 
169,086

 
166,159

2022
94,954

 
73,856

 
168,810

 
158,115

2023
95,463

 
69,423

 
164,886

 
147,677

Thereafter
878,755

 
722,496

 
1,601,251

 
1,130,494

Total minimum lease payments
1,365,771

 
1,093,005

 
2,458,776

 
1,969,240

Plus amount representing residual property value

 
389,643

 
389,643

 

Less amount representing interest
(602,026
)
 
(727,472
)
 
(1,329,498
)
 

Present value of net minimum lease payments
763,745

 
755,176

 
1,518,921

 
1,969,240

Less current portion
(43,498
)
 
(34,346
)
 
(77,844
)
 

Total
$
720,247

 
$
720,830

 
$
1,441,077

 
$
1,969,240

 
(1)     Other financing obligations are primarily related to build-to-suit arrangements. 
The Company entered into agreements with various landlords primarily to lease data center spaces which have not yet commenced as of March 31, 2019. These leases will commence between fiscal years 2019 and 2020, with lease terms of 5 to 29 years and a total lease commitment of approximately $273.7 million.

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