2019 Q4 Form 10-Q Financial Statement

#000162828019013074 Filed on November 01, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2019 Q1
Revenue $1.417B $1.397B $1.363B
YoY Change 8.17% 8.81% 12.12%
Cost Of Revenue $725.6M $704.3M $682.0M
YoY Change 8.15% 6.67% 9.58%
Gross Profit $691.5M $692.5M $681.2M
YoY Change 8.19% 11.07% 14.78%
Gross Profit Margin 48.8% 49.58% 49.97%
Selling, General & Admin $406.1M $403.4M $384.8M
YoY Change 10.35% 10.57% 6.01%
% of Gross Profit 58.73% 58.25% 56.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $330.6M $321.9M $313.2M
YoY Change 7.72% 5.29% 1.82%
% of Gross Profit 47.81% 46.48% 45.98%
Operating Expenses $406.1M $403.4M $384.8M
YoY Change 10.35% 10.57% 6.01%
Operating Profit $285.4M $285.4M $279.5M
YoY Change 5.26% 7.38% 23.74%
Interest Expense -$169.3M $118.7M $122.8M
YoY Change 33.31% -9.11% -2.72%
% of Operating Profit -59.32% 41.59% 43.95%
Other Income/Expense, Net $71.50M $3.428M -$166.0K
YoY Change 1488.89% -8.44% -94.58%
Pretax Income $162.5M $178.6M $160.3M
YoY Change 19.4% 24.63% 101.27%
Income Tax $37.60M $57.83M $42.57M
% Of Pretax Income 23.14% 32.37% 26.55%
Net Earnings $125.0M $120.9M $118.1M
YoY Change 13.61% -3.18% 87.74%
Net Earnings / Revenue 8.82% 8.65% 8.66%
Basic Earnings Per Share $1.47 $1.42 $1.44
Diluted Earnings Per Share $1.46 $1.41 $1.44
COMMON SHARES
Basic Shares Outstanding 85.28M shares 85.01M shares 81.81M shares
Diluted Shares Outstanding 85.57M shares 82.09M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.880B $1.422B $1.648B
YoY Change 207.69% 60.5% -19.65%
Cash & Equivalents $1.870B $1.402B $1.634B
Short-Term Investments $10.00M $20.00M $14.00M
Other Short-Term Assets $303.5M $305.2M $258.9M
YoY Change 10.44% 18.0% 7.42%
Inventory
Prepaid Expenses $55.95M
Receivables $689.1M $746.6M $630.1M
Other Receivables $36.35M $0.00 $0.00
Total Short-Term Assets $2.873B $2.853B $2.626B
YoY Change 89.53% 57.9% -10.79%
LONG-TERM ASSETS
Property, Plant & Equipment $12.15B $11.23B $10.73B
YoY Change 10.22% 5.11% 10.69%
Goodwill $4.782B $4.649B $4.808B
YoY Change -1.13% -4.2% 7.2%
Intangibles
YoY Change
Long-Term Investments $59.74M
YoY Change
Other Assets $580.8M $499.6M $469.8M
YoY Change 8.91% -11.15% 11.5%
Total Long-Term Assets $21.09B $19.99B $19.87B
YoY Change 12.62% 8.16% 16.87%
TOTAL ASSETS
Total Short-Term Assets $2.873B $2.853B $2.626B
Total Long-Term Assets $21.09B $19.99B $19.87B
Total Assets $23.97B $22.84B $22.49B
YoY Change 18.38% 12.59% 12.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $52.23M $755.0M $747.0M
YoY Change -46.14% 2.17% 8.73%
Accrued Expenses $447.0M $472.0M $395.0M
YoY Change 149.72% 71.01% 53.1%
Deferred Revenue $76.19M $76.89M $73.14M
YoY Change 4.17% 4.35% 2.89%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $796.0M $437.0M $429.0M
YoY Change 76.11% 35.71% 173.25%
Total Short-Term Liabilities $2.158B $1.836B $1.685B
YoY Change 42.43% 25.67% 35.21%
LONG-TERM LIABILITIES
Long-Term Debt $11.03B $10.35B $10.52B
YoY Change 1.37% -6.17% -3.9%
Other Long-Term Liabilities $621.7M $558.9M $541.5M
YoY Change -1.28% -11.85% -9.55%
Total Long-Term Liabilities $621.7M $558.9M $541.5M
YoY Change -1.28% -11.85% -9.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.158B $1.836B $1.685B
Total Long-Term Liabilities $621.7M $558.9M $541.5M
Total Liabilities $15.13B $14.08B $14.07B
YoY Change 16.12% 7.26% 9.88%
SHAREHOLDERS EQUITY
Retained Earnings $1.391B $1.266B $884.0M
YoY Change 56.35% 62.38% 69.19%
Common Stock $12.70B $12.64B $12.04B
YoY Change 18.09% 19.28% 18.15%
Preferred Stock
YoY Change
Treasury Stock (at cost) $144.3M $144.3M $144.8M
YoY Change -0.62% -0.63% -0.61%
Treasury Stock Shares 392.6K shares 392.8K shares 395.2K shares
Shareholders Equity $8.841B $8.761B $8.425B
YoY Change
Total Liabilities & Shareholders Equity $23.97B $22.84B $22.49B
YoY Change 18.38% 12.59% 12.78%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2019 Q1
OPERATING ACTIVITIES
Net Income $125.0M $120.9M $118.1M
YoY Change 13.61% -3.18% 87.74%
Depreciation, Depletion And Amortization $330.6M $321.9M $313.2M
YoY Change 7.72% 5.29% 1.82%
Cash From Operating Activities $529.6M $499.0M $421.1M
YoY Change -5.19% 19.61% 39.96%
INVESTING ACTIVITIES
Capital Expenditures -$714.5M -$556.9M -$364.0M
YoY Change 4.97% -202.08% -204.08%
Acquisitions $0.00
YoY Change
Other Investing Activities $248.1M -$19.70M -$14.50M
YoY Change -651.33% -73.52% -4.61%
Cash From Investing Activities -$466.6M -$576.4M -$378.5M
YoY Change -35.69% -7.03% 3.71%
FINANCING ACTIVITIES
Cash Dividend Paid $204.6M
YoY Change 9.41%
Common Stock Issuance & Retirement, Net $1.213B
YoY Change
Debt Paid & Issued, Net $18.33M
YoY Change 177.83%
Cash From Financing Activities 381.5M -126.2M $986.9M
YoY Change -478.1% -221.23% 46.42%
NET CHANGE
Cash From Operating Activities 529.6M 499.0M $421.1M
Cash From Investing Activities -466.6M -576.4M -$378.5M
Cash From Financing Activities 381.5M -126.2M $986.9M
Net Change In Cash 444.5M -203.6M $1.028B
YoY Change -265.98% 106.28% 66.35%
FREE CASH FLOW
Cash From Operating Activities $529.6M $499.0M $421.1M
Capital Expenditures -$714.5M -$556.9M -$364.0M
Free Cash Flow $1.244B $1.056B $785.1M
YoY Change 0.39% -922.73% -1708.17%

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CY2018Q3 us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Gains Losses On Extinguishment Of Debt
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CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2019Q3 us-gaap Income Tax Expense Benefit
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CY2018Q3 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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CY2018Q3 us-gaap Profit Loss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
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CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Earnings Per Share Basic
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CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019Q3 us-gaap Profit Loss
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ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2019Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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CY2018Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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OtherComprehensiveIncomeLossNetOfTax
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OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2019Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2018Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
120502000 USD
CY2019Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-45000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
287921000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
120502000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
8588000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4886000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-35000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
0 USD
CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
39057000 USD
CY2018Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
80671000 USD
us-gaap Profit Loss
ProfitLoss
382410000 USD
us-gaap Profit Loss
ProfitLoss
255337000 USD
us-gaap Depreciation
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806704000 USD
us-gaap Depreciation
Depreciation
767182000 USD
us-gaap Share Based Compensation
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174413000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
139849000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
147589000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
153443000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
9429000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
10609000 USD
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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16023000 USD
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
463000 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
6013000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-67000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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OtherNoncashIncomeExpense
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
123389000 USD
us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
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us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
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us-gaap Increase Decrease In Other Operating Assets
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62036000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
22409000 USD
eqix Increase Decreasein Operating Lease Right Of Use Assets
IncreaseDecreaseinOperatingLeaseRightOfUseAssets
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eqix Increase Decreasein Operating Lease Liabilities
IncreaseDecreaseinOperatingLeaseLiabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
6660000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4782000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
17843000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
14879000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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1463058000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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1256797000 USD
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us-gaap Payments To Acquire Investments
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554742000 USD
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8945000 USD
us-gaap Proceeds From Sale And Maturity Of Other Investments
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74376000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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34143000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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829185000 USD
us-gaap Payments To Acquire Real Estate
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us-gaap Payments To Acquire Real Estate
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136612000 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
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1364960000 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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117000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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52018000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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50103000 USD
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us-gaap Proceeds From Issuance Of Common Stock
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273873000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
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0 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
929850000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
424650000 USD
us-gaap Finance Lease Principal Payments
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62785000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
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89655000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
53796000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
429498000 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
150000000 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
20556000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
12218000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
820609000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
571807000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
792529000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-552297000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
627604000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1450701000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1420133000 USD
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
898404000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1402400000 USD
CY2018Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
870486000 USD
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
7988000 USD
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
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CY2019Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
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CY2018Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
10631000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Derivatives Methods Of Accounting Hedging Derivatives
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<div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Derivatives and Hedging Activities</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company uses derivative instruments, including foreign currency forwards and options and cross-currency interest rate swaps, to manage certain foreign currency exposures. Derivative instruments are viewed as risk management tools by the Company and are not used for speculative purposes. The Company recognizes all derivatives on the Company's condensed consolidated balance sheets at fair value. The accounting for changes in the value of a derivative depends on whether the contract qualifies and has been designated for hedge accounting. In order to qualify for hedge accounting, a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged and there must be documentation of the risk management objective and strategy, including identification of the hedging instrument, the hedged item and the risk exposure, and the effectiveness assessment methodology. For cash flow hedges, the Company uses regression analysis at the time they are designated to assess their effectiveness. Hedge designations are reviewed on a quarterly basis to assess whether circumstances have changed that would disrupt the hedge instrument's relationship to the forecasted transactions or net investment. </span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company uses the forward method to assess effectiveness of qualifying foreign currency forwards that are designated as cash flow hedges, whereby, the change in the fair value of the derivative is recorded in other comprehensive income (loss) and reclassified to the same line item in the condensed consolidated statement of operations that is used to present the earnings effect of the hedged item when the hedged item affects earnings. The Company uses the spot method to assess effectiveness of qualifying foreign currency exchange options that are designated as cash flow hedges, whereby, the change in fair value due to foreign currency exchange spot rates is recorded in other comprehensive income (loss) and reclassified to the same line item in the condensed consolidated statement of operations that is used to present the earnings effect of the hedged item when the hedged item affects earnings, and the change in fair value of the excluded component is recorded in other comprehensive income (loss) and amortized on a straight-line basis to the same line item in the condensed consolidated statement of operations that is used to present the earnings effect of the hedged item. When two or more derivative instruments in combination are jointly designated as a cash flow hedging instrument, as with foreign currency exchange option collars, they are treated as a single instrument. If the hedge relationship is terminated for any derivatives designated as cash flow hedges, then the change in fair value of the derivative recorded in other comprehensive income (loss) is recognized in earnings when the previously hedged item affects earnings, consistent with the original hedge strategy. For hedge relationships discontinued because the forecasted transaction is not expected to occur according to the original strategy, any related derivative amounts recorded in other comprehensive income (loss) are immediately recognized in earnings.</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company uses the spot method to assess effectiveness of cross-currency interest rate swaps that are designated as net investment hedges, whereby, the change in fair value due to foreign currency exchange spot rates is recorded in other comprehensive income (loss) and the change in fair value of the excluded component is recorded in other comprehensive income (loss) and amortized to interest expense on a straight-line basis. </span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">From time to time, the Company also uses foreign exchange forward contracts to hedge against the effect of foreign exchange rate fluctuations on a portion of its net investment in the foreign subsidiaries. The Company uses the spot method to assess effectiveness of qualifying foreign currency forwards that are designated as net investment hedges, whereby, the change in fair value due to foreign currency exchange spot rates is recorded in other comprehensive income (loss) and the change in fair value of the excluded component is recorded in other comprehensive income (loss) and amortized to interest expense on a straight-line basis. </span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign currency gains or losses associated with derivatives that are not designated as hedging instruments for accounting purposes are recorded within other income (expense) in the Company's condensed consolidated statements of operations, with the exception of (i) foreign currency embedded derivatives contained in certain of the Company's customer contracts and (ii) foreign exchange forward contracts that are entered into to hedge the accounting impact of the foreign currency embedded derivatives, which are recorded within revenues in the Company's condensed consolidated statements of operations.</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">For further information on derivatives and hedging activities, see Note 6 below.</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Derivatives Designated as Hedging Instruments</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Net Investment Hedges.</span><span style="font-family:inherit;font-size:10pt;"> The Company is exposed to the impact of foreign exchange rate fluctuations on the value of investments in its foreign subsidiaries whose functional currencies are other than the U.S. Dollar. In order to mitigate the impact of foreign currency exchange rates, the Company has entered into various foreign currency debt obligations, which are designated as hedges against the Company's net investments in foreign subsidiaries. As of </span><span style="font-family:inherit;font-size:10pt;">September 30, 2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">December 31, 2018</span><span style="font-family:inherit;font-size:10pt;">, the total principal amounts of foreign currency debt obligations designated as net investment hedges were </span><span style="font-family:inherit;font-size:10pt;"><span>$3,961.7 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$4,139.8 million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company also uses cross-currency interest rate swaps to hedge a portion of its net investment in its European operations. As of </span><span style="font-family:inherit;font-size:10pt;">September 30, 2019</span><span style="font-family:inherit;font-size:10pt;">, U.S. Dollar to Euro cross-currency interest rate swap contracts with a total notional amount of </span><span style="font-family:inherit;font-size:10pt;"><span>$750.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> were outstanding, with maturity dates in April 2022, January 2024 and January 2025. At maturity of each outstanding contract, the Company will receive U.S. Dollars from and pay Euros to the contract counterparty. During the term of each contract, the Company receives interest payments in U.S. Dollars and makes interest payments in Euros based on a notional amount and fixed interest rates determined at contract inception. The Company did not have any cross-currency interest rate swaps outstanding as of </span><span style="font-family:inherit;font-size:10pt;">December 31, 2018</span><span style="font-family:inherit;font-size:10pt;">. </span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Cash Flow Hedges</span><span style="font-family:inherit;font-size:10pt;">. The Company hedges its foreign currency translation exposure for forecasted revenues and expenses in its EMEA region between the U.S. Dollar and the British Pound, Euro, Swedish Krona and Swiss Franc. The foreign currency forward and option contracts that the Company uses to hedge this exposure are designated as cash flow hedges. As of </span><span style="font-family:inherit;font-size:10pt;">September 30, 2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">December 31, 2018</span><span style="font-family:inherit;font-size:10pt;">, the total notional amounts of these foreign exchange contracts were </span><span style="font-family:inherit;font-size:10pt;"><span>$848.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$760.9 million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively. </span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company enters into intercompany hedging instruments ("intercompany derivatives") with wholly-owned subsidiaries of the Company in order to hedge certain forecasted revenues and expenses denominated in currencies other than the U.S. Dollar. Simultaneously, the Company enters into derivative contracts with unrelated third parties to externally hedge the net exposure created by such intercompany derivatives.</span></div>
us-gaap Effective Income Tax Rate Continuing Operations
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0.279
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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274857000 USD
CY2019Q1 us-gaap Other Assets Current
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CY2018Q4 us-gaap Property Plant And Equipment Net
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11026020000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
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CY2018Q4 us-gaap Operating Lease Right Of Use Asset
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CY2019Q1 us-gaap Operating Lease Right Of Use Asset
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CY2018Q4 us-gaap Finite Lived Intangible Assets Net
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CY2019Q1 us-gaap Finite Lived Intangible Assets Net
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CY2018Q4 us-gaap Other Assets Noncurrent
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CY2019Q1 us-gaap Other Assets Noncurrent
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CY2018Q4 us-gaap Operating Lease Liability Current
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CY2019Q1 us-gaap Operating Lease Liability Current
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CY2018Q4 us-gaap Finance Lease Liability Current
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CY2019Q1 us-gaap Finance Lease Liability Current
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CY2018Q4 us-gaap Capital Lease Obligations Current
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CY2019Q1 us-gaap Capital Lease Obligations Current
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CY2018Q4 us-gaap Other Liabilities Current
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CY2019Q1 us-gaap Other Liabilities Current
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CY2018Q4 us-gaap Operating Lease Liability Noncurrent
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CY2019Q1 us-gaap Operating Lease Liability Noncurrent
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CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
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CY2019Q1 us-gaap Contract With Customer Asset Net Noncurrent
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CY2019Q3 us-gaap Contract With Customer Asset Net Current
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CY2019Q3 us-gaap Contract With Customer Asset Net Noncurrent
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CY2019Q3 us-gaap Contract With Customer Liability Noncurrent
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eqix Increase Decreasein Contract With Customer Asset Net Noncurrent
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IncreaseDecreaseinContractWithCustomerLiabilityNetCurrent
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eqix Increase Decreasein Contract With Customer Liability Net Noncurrent
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us-gaap Contract With Customer Liability Revenue Recognized
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CY2019Q3 us-gaap Revenue Remaining Performance Obligation
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us-gaap Revenue Performance Obligation Description Of Timing
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CY2019Q3 us-gaap Profit Loss
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CY2018Q3 us-gaap Profit Loss
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us-gaap Profit Loss
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382410000 USD
us-gaap Profit Loss
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CY2019Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2019Q3 us-gaap Net Income Loss
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CY2018Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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470000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019Q3 us-gaap Earnings Per Share Basic
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CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.57
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.54
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.19
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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248000 shares
CY2019Q3 us-gaap Foreign Currency Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months
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43000000.0 USD
CY2018Q4 us-gaap Foreign Currency Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months
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21400000 USD
us-gaap Derivatives Methods Of Accounting Nonhedging Derivatives
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<div style="line-height:120%;padding-bottom:12px;padding-top:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Derivatives Not Designated as Hedging Instruments</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Embedded Derivatives</span><span style="font-family:inherit;font-size:10pt;">. The Company is deemed to have foreign currency forward contracts embedded in certain of the Company's customer agreements that are priced in currencies different from the functional or local currencies of the parties involved. These embedded derivatives are separated from their host contracts and carried on the Company's balance sheet at their fair value. The majority of these embedded derivatives arise as a result of the Company's foreign subsidiaries pricing their customer contracts in U.S. Dollars.</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Economic Hedges of Embedded Derivatives</span><span style="font-family:inherit;font-size:10pt;">. The Company uses foreign currency forward contracts to manage the foreign exchange risk associated with the Company's customer agreements that are priced in currencies different from the functional or local currencies of the parties involved ("economic hedges of embedded derivatives"). Foreign currency forward contracts represent agreements to exchange the currency of one country for the currency of another country at an agreed-upon price on an agreed-upon settlement date.</span></div><span style="font-family:inherit;font-size:10pt;font-style:italic;">Foreign Currency Forward Contracts</span>. The Company also uses foreign currency forward contracts to manage the foreign exchange risk associated with certain foreign currency-denominated monetary assets and liabilities. As a result of foreign currency fluctuations, the U.S. Dollar equivalent values of its foreign currency-denominated monetary assets and liabilities change. Gains and losses on these contracts are included in other income (expense), on a net basis, along with the foreign currency gains and losses of the related foreign currency-denominated monetary assets and liabilities associated with these foreign currency forward contracts.
CY2019Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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CY2018Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
17381000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
97015000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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61583000 USD
CY2019Q3 us-gaap Derivative Fair Value Of Derivative Asset
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142251000 USD
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2036000 USD
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CY2018Q4 us-gaap Derivative Fair Value Of Derivative Liability
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154394000 USD
CY2019Q3 us-gaap Derivative Asset Fair Value Gross Liability
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CY2019Q3 us-gaap Derivative Assets
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154394000 USD
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CY2019Q3 us-gaap Derivative Liabilities
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CY2018Q4 us-gaap Derivative Assets
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CY2018Q4 us-gaap Derivative Liabilities
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CY2019Q3 us-gaap Assets Fair Value Disclosure
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CY2019Q3 us-gaap Finance Lease Right Of Use Asset Amortization
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us-gaap Finance Lease Right Of Use Asset Amortization
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CY2019Q3 us-gaap Finance Lease Interest Expense
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us-gaap Finance Lease Interest Expense
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CY2019Q3 eqix Finance Lease Cost
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eqix Finance Lease Cost
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us-gaap Operating Lease Cost
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CY2019Q3 us-gaap Lease Cost
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us-gaap Lease Cost
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us-gaap Finance Lease Interest Payment On Liability
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us-gaap Operating Lease Payments
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us-gaap Finance Lease Principal Payments
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us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2019Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2019Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
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CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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CY2019Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
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CY2019Q3 eqix Lessee Operatingand Finance Lease Payments Remainderof Fiscal Year
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CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Two
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CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Three
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CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Four
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CY2019Q3 eqix Lessee Operatingand Finance Lease Payments Due Year Four
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CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Five
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CY2019Q3 eqix Lessee Operatingand Finance Lease Payments Due Year Five
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CY2019Q3 us-gaap Finance Lease Liability Payments Due After Year Five
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CY2019Q3 eqix Lessee Operatingand Finance Lease Payments Dueafter Year Five
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CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2010411000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
2467008000 USD
CY2019Q3 eqix Lessee Operatingand Finance Lease Payments Due
LesseeOperatingandFinanceLeasePaymentsDue
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CY2019Q3 eqix Lessee Operating Lease Residual Valueof Leased Assets
LesseeOperatingLeaseResidualValueofLeasedAssets
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CY2019Q3 eqix Finance Lease Residual Valueof Leased Assets
FinanceLeaseResidualValueofLeasedAssets
18436000 USD
CY2019Q3 eqix Lessee Operatingand Finance Lease Residual Valueof Leased Assets
LesseeOperatingandFinanceLeaseResidualValueofLeasedAssets
18436000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
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CY2019Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
1118444000 USD
CY2019Q3 eqix Lessee Operatingand Finance Lease Payments Undiscounted Excess Amount
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1657952000 USD
CY2019Q3 us-gaap Operating Lease Liability
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1470903000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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CY2019Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1367000000 USD
CY2019Q3 eqix Lessee Operatingand Finance Lease Liability
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2837903000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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166159000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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