v3.25.4
Related Party Transactions (Tables)
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The following table presents the income and expenses from these arrangements with the Joint Ventures in our consolidated statements of operations (in millions):
Years Ended December 31,
Related PartyNature of Transaction202520242023
EMEA 1 Joint Venture
Income (1)
$31 $27 $29 
EMEA 1 Joint Venture
Expenses (2)
17 16 18 
VIE Joint Ventures
Income (3)
151 257 107 
VIE Joint Ventures
Expenses (4)
13 4 — 
(1)Primarily consists of revenues related to service arrangements as described above.
(2)Primarily consists of rent expenses for a sub-lease agreement with the EMEA 1 Joint Venture for a London data center with a remaining lease term of approximately 14-years as of December 31, 2025.
(3)Primarily consists of revenues related to service arrangements as described above and also includes interest income earned on the AMER 2 Loan for the year ended December 31, 2025 and 2024 of $32 million and $17 million.
(4)Primarily consists of rent expenses for lease arrangements with the VIE Joint Ventures.
We have also sold certain data center facilities to our Joint Ventures and recognized gains or losses on asset sales as described in Note 5.
The following table presents the assets and liabilities from related party transactions with the Joint Ventures in our consolidated balance sheets (in millions):
EMEA 1 Joint VentureVIE Joint Ventures
As of December 31,As of December 31,
Balance Sheet2025202420252024
Accounts receivable, net$10 $4 $20 $50 
Other current assets (1)
3 19 55 128 
Property, plant and equipment, net (2)
144 145 162 74 
Operating lease right-of-use assets2 2 30 2 
Other assets (3)
7 — 344 302 
Other current liabilities10 5 7 10 
Finance lease liabilities118 164 169 78 
Operating lease liabilities2 2 27 2 
Other liabilities (4)
13 48 11 11 
(1)The balance primarily relates to contract assets and other receivables.
(2)The balance relates to finance lease right-of-use assets. As of December 31, 2025, the weighted-average lease terms for the finance leases with the EMEA 1 Joint Venture and the VIE Joint Ventures were 14 years and 8 years, respectively.
(3)The balance primarily relates to contract assets and the AMER 2 Loan receivable.
(4)The balance as of December 31, 2024 primarily relates to the obligation to pay for future construction for certain sites sold as a part of the EMEA 1 Joint Venture transaction. This obligation was settled in the third quarter of 2025 through a non-cash transfer of construction assets to the EMEA 1 Joint Venture. The asset transfer also resulted in a partial settlement of the finance lease liabilities balance with the EMEA 1 Joint Venture.
Our other related party transaction activity was as follows (in millions):
Years ended December 31,
202520242023
Revenues$116 $218 $310 
Costs and services9 18 38 
As of December 31,
20252024
Accounts receivable, net$12 $15 
Accounts payable— 4