v3.25.2
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Gain on Sale of Subsidiary
Proceeds received at closing$137.7 
Net assets at closing(84.1)
Total gain on sale included in Other operating expenses (1)$53.6 
_______________
(1)Excludes an estimated 377.9 million ZAR (approximately $20.8 million at the date of closing) of taxes, of which 131.5 million ZAR (approximately $7.4 million) remains payable as of June 30, 2025.
Proceeds received at closing$2,158.8 
Net assets at closing(2,257.6)
Loss on sale$(98.8)
Deal costs(20.5)
Contingent liability for tax indemnification(53.9)
Reclassification of cumulative translation adjustment(1,072.3)
Total loss on sale included in loss from discontinued operations, net of taxes$(1,245.5)
The following table presents key components of Income from discontinued operations, net of taxes in the consolidated statements of operations:
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Revenue$— $355.6 $— $677.1 
Cost of operations— (172.6)— (342.0)
Depreciation, amortization and accretion— (41.1)— (81.7)
Selling, general, administrative and development expense— (16.0)— (28.7)
Other operating income (expense)— 2.2 — (1.0)
Operating income— 128.1 — 223.7 
Interest income— 9.3 — 26.3 
Interest expense— (2.7)— (5.6)
Other income, net— 46.4 — 46.3 
Income from discontinued operations before taxes$— $181.1 $— $290.7 
Income tax provision— (42.6)— (60.5)
Income from discontinued operations, net of taxes$— $138.5 $— $230.2 
The following table presents key cash flow and non-cash information related to discontinued operations.
 Six Months Ended June 30,
 20252024
Capital expenditures— (44.3)
Significant non-cash items:
Depreciation, amortization and accretion— 81.7 
Stock-based compensation expense— 4.1 
Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses— (3.0)
Loss (gain) on investments, unrealized foreign currency loss (gain) and other non-cash expense— (44.0)
Schedule of Cash and Cash Equivalents The reconciliation of cash and cash equivalents and restricted cash reported within the applicable balance sheet that sum to the total of the same such amounts shown in the statements of cash flows is as follows:
Six Months Ended June 30,
20252024
Cash and cash equivalents$2,076.0 $2,158.3 
Restricted cash133.6 126.1 
Cash and cash equivalents included in assets of discontinued operations— 333.8 
Restricted cash included in assets of discontinued operations— 0.4 
Total cash, cash equivalents and restricted cash$2,209.6 $2,618.6 
Schedule of Restrictions on Cash and Cash Equivalents The reconciliation of cash and cash equivalents and restricted cash reported within the applicable balance sheet that sum to the total of the same such amounts shown in the statements of cash flows is as follows:
Six Months Ended June 30,
20252024
Cash and cash equivalents$2,076.0 $2,158.3 
Restricted cash133.6 126.1 
Cash and cash equivalents included in assets of discontinued operations— 333.8 
Restricted cash included in assets of discontinued operations— 0.4 
Total cash, cash equivalents and restricted cash$2,209.6 $2,618.6 
Schedule of Revenue Disaggregated by Source and Geography
A summary of revenue disaggregated by source and geography is as follows:
Three Months Ended June 30, 2025U.S. & CanadaAfrica & APACEuropeLatin AmericaData CentersTotal
Non-lease property revenue$72.5 $3.4 $3.4 $28.1 $36.8 $144.2 
Services revenue99.5 — — — — 99.5 
Total non-lease revenue$172.0 $3.4 $3.4 $28.1 $36.8 $243.7 
Property lease revenue1,234.6 332.9 229.3 361.3 225.1 2,383.2 
Total revenue$1,406.6 $336.3 $232.7 $389.4 $261.9 $2,626.9 
Three Months Ended June 30, 2024U.S. & CanadaAfrica & APAC (1)EuropeLatin AmericaData CentersTotal
Non-lease property revenue$77.2 $6.2 $5.2 $27.6 $32.8 $149.0 
Services revenue47.4 — — — — 47.4 
Total non-lease revenue$124.6 $6.2 $5.2 $27.6 $32.8 $196.4 
Property lease revenue1,238.2 293.0 198.0 421.1 198.0 2,348.3 
Total revenue$1,362.8 $299.2 $203.2 $448.7 $230.8 $2,544.7 
_______________
(1)Excludes the operating results of ATC TIPL (as defined in note 16), which are reported as discontinued operations. See note 16 for further discussion.
Six Months Ended June 30, 2025U.S. & CanadaAfrica & APACEuropeLatin AmericaData CentersTotal
Non-lease property revenue$147.2 $15.4 $6.2 $54.1 $72.7 $295.6 
Services revenue174.1 — — — — 174.1 
Total non-lease revenue$321.3 $15.4 $6.2 $54.1 $72.7 $469.7 
Property lease revenue2,458.2 654.5 439.5 734.5 433.3 4,720.0 
Total revenue$2,779.5 $669.9 $445.7 $788.6 $506.0 $5,189.7 
Six Months Ended June 30, 2024U.S. & CanadaAfrica & APAC (1)EuropeLatin AmericaData CentersTotal
Non-lease property revenue$150.1 $12.3 $8.7 $56.3 $64.4 $291.8 
Services revenue77.6 — — — — 77.6 
Total non-lease revenue$227.7 $12.3 $8.7 $56.3 $64.4 $369.4 
Property lease revenue2,476.0 584.0 399.0 837.9 391.0 4,687.9 
Total revenue$2,703.7 $596.3 $407.7 $894.2 $455.4 $5,057.3 
_______________
(1)Excludes the operating results of ATC TIPL, which are reported as discontinued operations. See note 16 for further discussion.