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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 38,882 $ 90,719
Accounts receivable, net of allowance for credit losses of $712 and $792, respectively 21,134 21,723
Prepaid expenses 8,685 8,171
Other current assets, net of allowance for credit losses of $2 and $0, respectively 2,125 2,235
Total current assets 70,826 122,848
Property and equipment, net 1,801,302 1,737,415
Long-term deposit 2,789 2,626
Deferred income taxes 227,299 203,201
Other assets, net of allowance for credit losses of $91 and $87, respectively 55,429 48,366
TOTAL ASSETS 2,157,645 2,114,456
CURRENT LIABILITIES:    
Accounts payable 22,627 14,588
Accrued salaries and benefits 7,129 4,884
Accrued interest 1,551 7,132
Accrued expenses and other 10,651 9,686
Accrued construction payables 22,768 27,162
Deferred revenue, current portion 18,401 14,870
Customer deposits 12,804 12,348
Interest rate swap liability, current portion 9,314 9,418
Operating lease liability, current portion 3,867 3,512
Total current liabilities 109,112 103,600
Long-term debt, net 991,608 991,213
Operating lease liability 27,474 25,536
Finance lease liability 57,471 57,516
Deferred revenue 24,803 23,862
Liabilities under tax receivable agreement 311,342 278,865
Other long-term liabilities 17,108 22,897
TOTAL LIABILITIES 1,538,918 1,503,489
Commitments and contingencies (Note 6)
STOCKHOLDERS’ EQUITY:    
Preferred stock, $0.001 par value per share, 10,000 shares authorized, none issued and outstanding 0 0
Additional paid in capital 283,505 266,129
Retained earnings 5,088 9
Accumulated other comprehensive income 18 79
Total Switch, Inc. stockholders’ equity 288,853 266,458
Noncontrolling interest 329,874 344,509
TOTAL STOCKHOLDERS’ EQUITY 618,727 610,967
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 2,157,645 2,114,456
Class A Common Stock    
STOCKHOLDERS’ EQUITY:    
Class A common stock, $0.001 par value per share, 750,000 shares authorized, 127,546 and 119,009 shares issued and outstanding, respectively 128 119
Class B Common Stock    
STOCKHOLDERS’ EQUITY:    
Class A common stock, $0.001 par value per share, 750,000 shares authorized, 127,546 and 119,009 shares issued and outstanding, respectively 114 122
Class C Common Stock    
STOCKHOLDERS’ EQUITY:    
Class A common stock, $0.001 par value per share, 750,000 shares authorized, 127,546 and 119,009 shares issued and outstanding, respectively $ 0 $ 0