Goodwill

9 Months Ended

Sep. 30, 2022

Goodwill.

Goodwill

7. Goodwill

Goodwill represents the excess of the purchase price over the fair value of net tangible and intangible assets acquired in a business combination. Changes in the value of goodwill at September 30, 2022 as compared to December 31, 2021 were primarily driven by the acquisition of an indirect majority interest in Teraco in August 2022 and changes in exchange rates associated with goodwill balances denominated in foreign currencies – primarily the devaluation of the Euro as compared to the U.S. dollar.

The following is a summary of goodwill activity for the nine months ended September 30, 2022 (in thousands):

	Balance as of						Impact of Change		Balance as of
	December 31,				Goodwill		in Foreign		September 30,
Merger / Portfolio Acquisition	2021		Acquisition		Adjustments		Exchange Rates		2022
Telx Acquisition	$	330,845	$	—	$	—	$	—	$	330,845
European Portfolio Acquisition		448,124		—		—		(72,250)		375,874
DFT Merger		2,592,147		—		—		—		2,592,147
Interxion Combination		4,547,153		—		—		(608,830)		3,938,323
Teraco Acquisition		—		1,625,994		—		(141,145)		1,484,849
Other Combination		19,171		—		(6,633)		(6,471)		6,067
Total	$	7,937,440	$	1,625,994	$	(6,633)	$	(828,696)	$	8,728,105