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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 Debt Instruments
The following table sets forth maturities of the Company's debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs, debt discounts and debt premiums, as of March 31, 2019 (in thousands):
Years ending:
 
2019 (9 months remaining)
$
354,653

2020
373,127

2021
222,777

2022
1,910,324

2023
1,002,462

Thereafter
5,937,807

Total
$
9,801,150

Fair Value of Debt Instruments
The following table sets forth the estimated fair values of the Company's mortgage and loans payable and senior notes, including current maturities, as of (in thousands):
 
March 31,
2019
 
December 31,
2018
Mortgage and loans payable
$
1,369,241

 
$
1,389,632

Senior notes
8,721,018

 
8,422,211

The fair values of the mortgage and loans payable and 5.000% Infomart Senior Notes, which were not publicly traded, were estimated by considering the Company's credit rating, current rates available to the Company for debt of the same remaining maturities and terms of the debt (Level 2). The fair value of the senior notes, which were traded in the public debt market, was based on quoted market prices (Level 1).
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
March 31,
 
2019
 
2018
Interest expense
$
122,846

 
$
126,277

Interest capitalized
9,854

 
3,314

Interest charges incurred
$
132,700

 
$
129,591

Total interest paid, net of capitalized interest, during the three months ended March 31, 2019 and 2018 was $136.3 million and $103.7 million, respectively.
9.
Commitments and Contingencies
Commitments
As a result of the Company's various IBX data center expansion projects, as of March 31, 2019, the Company was contractually committed for approximately $0.8 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 customers for installation. The Company also had numerous other, non-capital purchase commitments in place as of March 31, 2019, such as commitments to purchase power in select locations through the remainder of 2019 and thereafter, and other open purchase orders for goods or services to be delivered or provided during the remainder of 2019 and thereafter. Such other miscellaneous purchase commitments totaled approximately $0.9 billion as of March 31, 2019. In addition, the Company entered

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