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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities:      
Net income (loss) $ 187,263 $ 562,149 $ 452,725
Adjustments to reconcile net income (loss) to cash flows from operating activities:      
Depreciation 525,850 478,984 465,072
Amortization (includes amortization of deferred financing costs and discounts of $16,859, $18,044 and $16,548 in 2023, 2022 and 2021, respectively) 267,168 266,655 231,898
Revenue reduction associated with amortization of customer inducements and data center above- and below-market leases 7,036 8,119 8,852
Stock-based compensation expense 73,799 56,861 61,001
(Benefit) provision for deferred income taxes (35,264) (55,920) 28,703
(Gain) loss on disposal/write-down of property, plant and equipment, net (12,825) (93,268) (172,041)
Loss (gain) on divestments and deconsolidations 0 105,825 (178,983)
Gain associated with the remeasurement of the Deferred Purchase Obligation 0 (93,600) 0
Loss (gain) associated with the Clutter transactions 38,000 (35,821) 0
Foreign currency transactions and other, net 103,134 (19,853) (6,656)
(Increase) decrease in assets (70,287) (224,641) (174,206)
Increase (decrease) in liabilities 29,693 (27,795) 42,537
Cash Flows from Operating Activities 1,113,567 927,695 758,902
Cash Flows from Investing Activities:      
Capital expenditures (1,339,223) (875,378) (611,082)
Cash paid for acquisitions, net of cash acquired (41,849) (803,690) (203,998)
Acquisition of customer relationships 0 (2,143) (5,892)
Customer inducements (5,874) (6,062) (7,402)
Contract costs (95,124) (70,336) (58,524)
Net proceeds from IPM Divestment 0 0 213,878
Investments in joint ventures and other investments (15,830) (73,233) (78,623)
Proceeds from sales of property and equipment and other, net 53,544 170,419 278,330
Cash Flows from Investing Activities (1,444,356) (1,660,423) (473,313)
Cash Flows from Financing Activities:      
Repayment of revolving credit facility, term loan facilities and other debt (18,191,921) (11,593,452) (5,164,483)
Proceeds from revolving credit facility, term loan facilities and other debt 18,386,168 12,949,766 4,972,214
Net proceeds from sales of senior notes 990,000 0 737,812
Debt financing and equity contribution from noncontrolling interests 24,684 29,172 0
Debt repayment and equity distribution to noncontrolling interests (3,855) (2,953) (2,450)
Repurchase of noncontrolling interest (400) (4,519) (75,000)
Parent cash dividends (737,650) (724,388) (718,340)
Net (payments) proceeds associated with employee stock-based awards (8,754) (4,849) 25,860
Other, net (32,606) (9,570) 3,581
Cash Flows from Financing Activities 425,666 639,207 (220,806)
Effect of Exchange Rates on Cash and Cash Equivalents (13,885) (20,510) (14,018)
Increase (decrease) in Cash and Cash Equivalents 80,992 (114,031) 50,765
Cash and Cash Equivalents, Beginning of Year 141,797 255,828 205,063
Cash and Cash Equivalents, End of Year 222,789 141,797 255,828
Supplemental Information:      
Cash Paid for Interest 512,446 482,673 428,111
Cash Paid for Income Taxes, Net 89,599 99,631 130,292
Non-Cash Investing and Financing Activities:      
Financing Leases and Other 135,492 49,836 50,552
Accrued Capital Expenditures 234,315 172,589 88,210
Deferred Purchase Obligations and Other Deferred Payments 18,575 193,033 0
Dividends Payable $ 202,392 $ 194,272 $ 190,559