Acquisitions (Tables)

9 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of recognized identified assets acquired and liabilities assumed

A summary of the cumulative consideration paid and the preliminary allocation of the purchase price paid for all of our acquisitions closed during the nine months ended September 30, 2023 is as follows:

	NINE MONTHS ENDED SEPTEMBER 30, 2023
Cash Paid (gross of cash acquired)(1)	$	88,518
Deferred Purchase Obligation, Purchase Price Holdbacks and Other	4,790
Fair Value of Previously Held Equity Interest(2)	99,718
Fair Value of Noncontrolling Interest(2)	78,598
Settlement of Pre-Existing Relationships	21,641
Total Consideration	293,265
Fair Value of Identifiable Assets Acquired:
Cash and Cash Equivalents	58,393
Accounts Receivable, Prepaid Expenses and Other Assets	27,561
Property, Plant and Equipment	118,438
Customer and Supplier Relationship Intangible Assets(3)	29,029
Data Center Lease-Based Intangible Assets(4)	18,161
Data Center Tenant Relationships(5)	22,701
Other Intangible Assets	2,180
Operating Lease Right-of-Use Assets	27,272
Fair Value of Identifiable Liabilities Assumed	(86,999)
Goodwill Initially Recorded(6)	$	76,529

(1)Cash paid for acquisitions, net in our Condensed Consolidated Statement of Cash Flows includes (i) cash acquired of $58,393 relating to acquisitions completed during the nine months ended September 30, 2023 and (ii) contingent and other payments of $3,807 for the nine months ended September 30, 2023 relating to acquisitions completed prior to January 1, 2023.

(2)The fair values of the previously held equity interest and the noncontrolling interest were determined to be the respective interest’s proportionate share of the fair value of net assets acquired, as of the acquisition date.

(3)The preliminary weighted average life of the customer and supplier relationship intangible assets acquired is approximately 5 years.

(4)The preliminary weighted average life of the data center lease-based intangible assets is approximately 4 years.

(5)The preliminary weighted average life of the data center tenant relationships is approximately 4 years.

(6)Goodwill is primarily attributable to the assembled workforce, expanded market opportunities and costs and other operating synergies anticipated upon the integration of the operations of us and the acquired businesses.

Schedule of Pro Forma Information

These operating expenditures have been reflected within the results of operations in the Pro Forma Financial Information as if they were incurred on January 1, 2021.

	THREE MONTHS ENDED SEPTEMBER 30, 2022		NINE MONTHS ENDED SEPTEMBER 30, 2022
Total Revenues	$	1,286,945	$	3,842,499
Income from Continuing Operations	$	192,931	$	436,627