Goodwill

12 Months Ended

Dec. 31, 2023

Goodwill

Goodwill

9. 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 December 31, 2023 as compared to December 31, 2022 were primarily driven by changes in exchange rates associated with goodwill balances denominated in foreign currencies.

The following is a summary of goodwill activity for the years ended December 31, 2023 and 2022 (in thousands):

	Balance as of						Impact of Change		Balance as of
	December 31,				Goodwill		in Foreign		December 31,
Merger / Portfolio Acquisition	2022		Acquisition		Adjustments		Exchange Rates		2023
Telx Acquisition	$	330,845	$	—	$	—	$	—	$	330,845
European Portfolio Acquisition		408,055		—		3,011		18,444		429,510
DFT Merger		2,592,147		—		—		—		2,592,147
Interxion Combination		4,288,208		—		4,843		118,806		4,411,857
Teraco Combination		1,576,704		—		—		(113,710)		1,462,994
Other Combination		12,538		—		(20)		—		12,518
Total	$	9,208,497	$	—	$	7,834	$	23,540	$	9,239,871
	Balance as of						Impact of Change		Balance as of
	December 31,				Goodwill		in Foreign		December 31,
Merger / Portfolio Acquisition	2021		Acquisition		Adjustments		Exchange Rates		2022
Telx Acquisition	$	330,845	$	—	$	—	$	—	$	330,845
European Portfolio Acquisition		448,124		—		—		(40,069)		408,055
DFT Merger		2,592,147		—		—		—		2,592,147
Interxion Combination		4,547,153		—		5,409		(264,354)		4,288,208
Teraco Combination		—		1,625,994		—		(49,290)		1,576,704
Other Combination		19,171		—		(6,633)		—		12,538
Total	$	7,937,440	$	1,625,994	$	(1,224)	$	(353,713)	$	9,208,497