Equinix (EQIX) 10-K risk factor changes: FY2023 vs FY2022

Inflation in the global economy, increased interest [removed: rates] [added: rates, political dissension] and adverse global economic conditions, like the ones we are currently experiencing, could negatively affect our business and financial condition.

The [removed: levels of inflation] [added: adverse economic conditions] we are currently experiencing may cause a decrease in sales as some customers may need to take cost cutting measures or scale back their operations.

This could result in churn in our customer base, reductions in revenues from our offerings, adverse effects to our [removed: DSO,] [added: days of sales outstanding in accounts receivable ("DSO"),] longer sales cycles, slower adoption of new technologies and increased price competition, which could adversely affect our liquidity.

[removed: Finally,] [added: Further,] volatility in the financial markets [added: and rising interest rates] like we are currently experiencing could affect our ability to access the capital markets at a time when we desire, or need, to do so which could have an impact on our flexibility to pursue additional expansion opportunities and maintain our desired level of revenue growth in the future.

The war in Ukraine has led to market disruptions, including significant volatility in commodity prices, credit and capital markets, an increase in [removed: cyber security] [added: cybersecurity] incidents as well as supply chain disruptions.

We [removed: have suspended all activities and purchasing with and through] [added: do not allow purchases from] Russian partners [removed: and] [added: or] suppliers and have committed to not make any direct or indirect investment in Russia absent an end to this conflict.

Prolonged unfavorable economic conditions or [removed: uncertainty] [added: uncertainty, including] as a result of the military conflict between Russia and Ukraine [added: or in the Middle East,] may adversely affect our business, financial condition, and results of operations.

Our business could be harmed by increased costs to procure power, prolonged power outages, shortages or capacity constraints as well as [removed: restrictions on] [added: insufficient] access to power.

[removed: Unplanned power outages, including, but not limited to those relating to large storms, earthquakes, fires, tsunamis, cyberattacks,] [added: infrastructure,] war, and any failures of electrical power grids more generally, and planned power outages by public utilities, such as [removed: those related to] Pacific Gas and Electric Company's [added: practice of] planned outages in California to minimize fire risks, could harm our customers and our business.

Employees working from home could be subjected to [removed: planned] power outages at home which could be difficult to track and could affect the [removed: day to day] [added: day-to-day] operations of our non-IBX data center employees.

Various macroeconomic factors are contributing to the instability and global power shortage including the Russia and Ukraine war, [removed: the COVID-19 pandemic,] severe weather events, governmental regulations, government relations and inflation.

While we have aimed to minimize our [removed: risk exposure related to power procurement in Singapore and globally] [added: risk,] via hedging, conservation, and other efficiencies, we expect the cost for power to continue to be volatile and unpredictable and subject to inflationary pressures.

We believe we have made appropriate estimates for these costs in our [removed: forecasting] [added: forecasting,] but the current unpredictable energy market could materially affect our financial forecasting, results of operations and financial condition.

Limitations on generation, transmission and distribution may limit our ability to obtain sufficient power capacity for potential expansion sites in new or [added: existing markets.]

[removed: We] [added: Utility companies] may [added: impose onerous operating conditions to any approval or provision of power or we may] experience significant delays and substantial increased costs [removed: demanded by the utilities] to provide the level of electrical service required by our current [added: or future] IBX data center designs.

We experienced [removed: an information technology security breach] [added: a cybersecurity incident] in the past and may be vulnerable to future security breaches, which could disrupt our operations and have a material adverse effect on our business, results of operation and financial condition.

Despite our efforts to protect against cyber-attacks, we are not fully insulated from [removed: these types of security breaches, and] such [removed: an attack could adversely impact our competitiveness and results of operations.][added: threats.]

[removed: Our] [added: In addition, our] adaptation to a hybrid working [removed: model] [added: model,] that includes both work from home and in an [removed: office] [added: office,] could [removed: continue to] expose us to new security risks.

A party who is able to compromise the security measures on our networks or the security of our infrastructure could misappropriate [removed: either our] [added: the] proprietary [added: or sensitive] information [added: of Equinix, our customers, including government customers,] or the personal information of our [removed: customers or our] employees, or cause interruptions or malfunctions in our operations or our customers' operations.

We [added: also] may be required to expend significant capital and resources to protect against such threats or to alleviate problems caused by [added: cyber] breaches in [removed: security.][added: our physical or virtual security systems.]

We must safeguard our customers' infrastructure and equipment located in our IBX data centers and ensure our IBX data centers and non-IBX [removed: offices remain operational at all times.]

We own certain of our IBX data centers, but others are leased by us, and we rely on the landlord for basic maintenance of our leased IBX data centers and office [removed: buildings.][added: buildings and, in some cases, the landlord is responsible for the infrastructure that runs the building such as power connections, UPSs and backup power generators.]

Until the legacy systems are brought up to our standards, customers in these [removed: legacy] IBX data centers could be exposed to higher risks of unexpected power outages.

- physical, electronic and [removed: cyber security] [added: cybersecurity] breaches;

These continuing investments include: 1) ongoing improvements to the customer experience from initial quote to customer billing and our revenue recognition process; 2) integration of [removed: recently-acquired] [added: recently acquired] operations onto our various information technology systems; and 3) implementation of new tools and technologies to either further streamline and automate processes, or to support our compliance with evolving U.S. GAAP.

Our finance team is also working on a multi-year project to move the [added: backbone of our finance systems to the cloud.]

If we are unable to implement our evolving organizational [removed: structure] [added: structure,] or if we are unable to recruit or retain key executives and qualified personnel, our business could be harmed.

In connection with the evolving needs of our customers and our business, we continue to review our organizational architecture and have made, and will continue to make, changes as [removed: appropriate, including recently announced leadership and organizational changes to our digital and data center solutions teams.][added: appropriate.]

There is a shortage of qualified personnel in these fields, [removed: made more acute in the current tight labor market,] and we compete with other companies for the limited pool of talent.

A failure to renew a lease or termination by a landlord of any lease could force us to exit a building prematurely, which could disrupt our business, harm our customer relationships, impact and harm our joint venture relationships, expose us to liability [added: under our customer contracts or joint venture agreements, cause us to take impairment charges and affect our results of operations negatively.]

In certain of our [removed: acquired IBX data centers in the Asia-Pacific region,] [added: markets,] the limited number of carriers available reduces that advantage.

The use of [removed: high power] [added: high-power] density equipment may limit our ability to fully utilize our older IBX data centers.

Server technologies continue to evolve and in some instances these changes can result in customers increasing their use of [removed: high power] [added: high-power] density equipment in our IBX data centers which can increase the demand for power on a per cabinet basis.

The ability to increase the power capacity of an IBX data center, should we decide to, is dependent on several factors including, but not limited to, the local utility's ability to provide additional [removed: power; the length of time required to provide such power; and/or whether it is feasible to upgrade the electrical infrastructure of an IBX data center to deliver additional power to customers.]

Although we are currently designing and building to a higher power specification than that of many of our older IBX data centers, [added: and are considering redevelopment of certain sites where appropriate,] there is a risk that demand [removed: will] [added: could] continue to [removed: increase] [added: increase, or our redevelopment may not be successful,] and our IBX data centers could become underutilized sooner than expected.

Ineffective planning and execution in our [removed: cloud] [added: cloud, artificial intelligence] and product development strategies may cause difficulty in sustaining our competitive advantages.

We have [added: also] invested in joint ventures in order to develop capacity to serve the large footprint needs of a targeted set of hyperscale customers by leveraging existing capacity and dedicated hyperscale builds.

There can be no assurances that our joint ventures will be successful or that we find appropriate partners, or that we will be able to successfully meet the needs of these [removed: customers.][added: customers through our hyperscale offerings.]

In 2020, we acquired Packet Host, Inc. ("Packet"), a bare metal automation company to facilitate a new [removed: hardware] [added: “as-a-service”] product offering for us.

We expect to continue to consider other new product offerings for our [removed: customers.][added: customers, including multi-cloud networking and cloud-adjacent storage.]

Inflation is impacting various aspects of our business.

Further, disagreement in the U.S. Congress on government spending levels could increase the possibility of a government shutdown, further adversely affecting global economic conditions.

Our ability to find appropriate sites for expansion may also be limited by access to power, especially as we design our data centers to the specifications of new and evolving technologies such as artificial intelligence which are more power-intensive.

Unplanned power outages, including, but not limited to those relating to large storms, earthquakes, fires, tsunamis, cyber-attacks, physical attacks on utility

The ongoing military conflicts between Russia and Ukraine and in the Middle East could negatively affect our business and financial condition.

In the case of the Middle East conflict, the current situation is extremely volatile.

Additionally, any sustained military action in the area of the Red Sea could contribute to supply chain challenges.

In the course of our business we utilize vendors and other partners who are also sources of cyber risks to us.

Recent developments in the cyber threat landscape include use of artificial intelligence and machine learning, as well as an increased number of cyber extortion and ransomware attacks, with the potential for higher financial ransom demand amounts and increasing sophistication and variety of ransomware techniques and methodology.

Further, any adoption of artificial intelligence by us or by third parties may pose new security challenges.

The cybersecurity regulatory landscape continues to evolve and compliance with the proposed reporting requirements could further complicate our ability to resolve cyber-attacks.

business operations remain operational at all times.

Additionally, the workloads related to new and evolving technologies such as artificial intelligence will increase the demand for high density computing power.

power; the length of time required to provide such power; and/or whether it is feasible to upgrade the electrical and mechanical infrastructure of an IBX data center to deliver additional power and cooling to customers.

Risks Related to our Offerings and Customers

Instability in the markets and the current macroeconomic environment could also increase delays in our sales cycle.

We are currently making significant investments of resources in expanding our digital services portfolio.

These offerings also introduce us to different competition and faster development cycles as compared to our data center business.

If we cannot develop or partner to quickly and efficiently meet market demands, we may also see adverse results.

We believe these hyperscale customers will also play a large role in the growth of the market for artificial intelligence.

Any of these factors may hinder

- the availability of power and the associated cost of procuring the power;

of the goodwill or other intangible assets and the implied fair value of the goodwill or other intangible assets in the period the determination is made.

difficulty finding replacement products and continued high inflation could affect our business and growth and could have a material effect on our business.

- we may need to change the structure of an established joint venture or create new complex structures to meet our business needs or the needs of our partners which could prove challenging; and

- unexpected changes in regulatory, tax and political environments;

- difficulties in procuring power;

- trade wars;

- changes in the government and public administration in emerging markets that may impact the stability of foreign investment policies;

- increasing scrutiny on the operational resilience of data centers, especially in countries where data centers are designated as critical national infrastructure and/or essential ICT service providers;

- increasing resistance to data center presence and expansion by local communities;

- compliance with evolving cybersecurity laws including reporting requirements; and

- compliance with evolving governmental regulation.

Further, if we cannot effectively manage the challenges associated with our international operations and expansion plans, we could experience a delay in our expansion projects or a failure to grow.

Expansion challenges and international operations failures could also materially damage our reputation, our brand, our business and results of operations.

disposal of hazardous substances and wastes.

The course of future legislation and regulation in the U.S. and abroad remains difficult to

New or changing regulation or public opinion regarding our ESG and sustainability goals or

Geopolitical events contribute to an already complex and evolving regulatory landscape.

If we cannot comply with the evolving laws and regulations in the countries in which we operate, we may be subject to litigation and/or sanctions, adverse revenue impacts, increased costs and our business and results of operations could be negatively impacted.

Inflation in the United States, Europe and other geographies has risen to levels not experienced in recent decades and we are seeing its impact on various aspects of our business.

We are currently operating in a period of economic uncertainty and capital markets disruption, which has been the result of many global macro-economic factors including the ongoing military conflict between Russia and Ukraine.

These macro-economic and other factors could negatively affect our business and financial condition.

Some of our IBX data centers in EMEA partially rely on energy produced in-part from fossil fuels originating from Russia, which Russia has reduced.

In particular, current dislocation in the Singapore power market has resulted in Equinix having to buy power at extremely elevated spot and future rates and this ongoing price volatility impacted elements of our 2022 financial results and long-term models.

The price for power in many of the countries in which we operate has seen significant increases in recent months, and it is unclear when the markets will stabilize.

existing markets.

These threats may result from human error, equipment failure, fraud or malice on the part of employees, vendors or third parties.

backbone of our finance systems to the cloud.

under our customer contracts or joint venture agreements, cause us to take impairment charges and affect our results of operations negatively.

may also negatively impact our ability to sustain profitability.

limited.

Equinix owns a 20% interest and our JV partners own an 80% interest in each joint venture, and Equinix operates all facilities.

management's time and energy, which could materially impact our business, financial condition and results of operations.

- compliance with evolving governmental regulation with which we have little experience; and

- compliance with evolving and varied regulations related to the ongoing COVID-19 pandemic.

Geo-political events, such as the COVID-19 pandemic, Brexit, the Hong Kong national security law, the trade war between the U.S. and China and the war between Russia and Ukraine, may increase the likelihood of the listed risks to occur and could have a negative effect on our business domestically or internationally.

In addition, compliance with international and U.S. laws and regulations that apply to our international operations increases our cost of doing business in foreign jurisdictions.

These laws and regulations include the General Data Protection Regulation ("GDPR") and other data privacy laws and requirements, labor relations laws, tax laws, anti-competition regulations, import and trade restrictions, export requirements, economic and trade sanctions, U.S. laws such as the Foreign Corrupt Practices Act and local laws which also prohibit corrupt payments to governmental officials.

interest rates upon refinancing, then the interest expense relating to that refinanced indebtedness would increase.

business, we cannot be certain that our plans will work as intended, to mitigate the impacts of such disasters or events.

and interpretations thereof.

For example, various foreign jurisdictions are starting to explore the taxation of digital services and the mechanism of levying a top-up tax through the adoption of OECD tax principles which could have a negative effect on our tax liability.

Similarly, data privacy regulations continue to evolve and must be addressed by Equinix as a global company.

interpretations of existing laws, could have a material adverse effect on our business, financial condition and results of operations.

For example, in order to maintain our qualification as a REIT for U.S. federal income tax purposes, a large portion of our gross income for each taxable year must be derived from real estate.

This results in almost double the number of entities we would typically need if we were not maintaining qualification as a REIT.

If our cash available for distribution falls

Our operations include using TRSs to facilitate meeting the REIT compliance requirements.

communities, the continuity of our business offerings and compliance with governmental regulations and local public health guidance and ordinances.

- news or regulations regarding the ongoing COVID-19 or any other pandemic;

assumptions that our management believes to be reasonable under the circumstances and at the time they are made.

Item 7 of this Form 10-K focuses on discussion of [removed: 2022] [added: 2023] and [removed: 2021] [added: 2022] items as well as [removed: 2022] [added: 2023] results as compared to [removed: 2021] [added: 2022] results.

For the discussion of [removed: 2020] [added: 2021] items and [removed: 2021] [added: 2022] results as compared to [removed: 2020] [added: 2021] results, please refer to Item 7 of our [removed: 2021] [added: 2022] Form 10-K as filed with the SEC on February [removed: 18, 2022.][added: 17, 2023.]

[removed: They also look to Platform Equinix® for the ability to directly and securely] interconnect to the networks, clouds and content that enable today's information-driven global digital economy.

[added: Our] recent IBX data center openings and acquisitions, as well as xScaleTM data center investments, [added: including those opened in January 2024,] have expanded our total global footprint to [removed: 248] [added: 260] data centers, including [removed: 11] [added: 17] xScale data centers and the MC1 data center that are held in unconsolidated joint ventures, across 71 markets around the world.

We are able to offer our customers a global platform that reaches [removed: 32] [added: 33] countries with the industry’s largest and most active ecosystem of partners in our sites, proven operational reliability, improved application performance and a highly scalable set of offerings.

Our cabinet utilization rates were approximately [removed: 82%] [added: 79%] and [removed: 79%,] [added: 82%,] as of December 31, [removed: 2022] [added: 2023] and [removed: 2021,] [added: 2022,] respectively.

Our business is [added: primarily] based on a recurring revenue model comprised of colocation and related interconnection and managed infrastructure offerings.

Our largest customer accounted for approximately 3% of our recurring revenues for the years ended December 31, [removed: 2022, 2021] [added: 2023, 2022] and [removed: 2020.][added: 2021.]

Our 50 largest customers accounted for approximately [added: 37%,] 36% [removed: of our recurring revenues for the year ended December 31, 2022] and 39% of our recurring revenues for the years ended [removed: 2021] [added: December 31, 2023, 2022] and [removed: 2020.][added: 2021.]

We elected to be taxed as a [removed: real estate investment trust] [added: REIT] for U.S. federal income tax purposes [removed: ("REIT")] beginning with our 2015 taxable year.

As of December 31, [removed: 2022,] [added: 2023,] our REIT structure included [removed: all] [added: a majority] of our data center operations in the [removed: U.S., Canada, Mexico, Chile, Japan, Singapore] [added: Americas] and [added: EMEA regions, as well as] the [removed: majority of our] data [removed: centers] [added: center operations] in [removed: EMEA.][added: Japan, Singapore, and Malaysia.]

Our data center operations in other jurisdictions are operated as [removed: taxable REIT subsidiaries ("TRSs").][added: TRSs.]

We [added: have also] included our share of the assets in xScale joint ventures (with the exception of Korea) in our REIT structure.

This [removed: built-in-gains] [added: built-in-gain] tax is generally applicable to any disposition of such an asset during the five-year period after the date we first owned the asset as a REIT asset to the extent of the built-in-gain based on the fair market value of such asset on the date we first held the asset as a REIT asset.

On each of March [removed: 23,] [added: 22, 2023,] June [removed: 15, September] 21, [added: 2023,] and [removed: December 14, 2022] [added: September 20, 2023,] we paid a quarterly cash dividend of [removed: $3.10] [added: $3.41] per share.

We expect [removed: the amount of] all [added: of] our [removed: applicable] [added: 2023] quarterly [removed: dividend] distributions and other applicable distributions to equal or exceed our REIT taxable income [removed: that we] [added: to be] recognized in [removed: 2022.][added: 2023.]

See Note [removed: 12] [added: 10] within the Consolidated Financial Statements.

See [removed: Note] [added: Notes] 5 [added: and 6] within the Consolidated Financial Statements.

- In March, we [removed: entered into an agreement to sell] [added: sold] the Mexico 3 [removed: ("MX3")] [added: ("MX3x")] data center site in connection with the formation of a new joint venture with GIC, to develop and operate xScale data centers in the Americas (the "AMER 1 Joint Venture").

[removed: See] [added: For additional information, see the "Equity Method Investments" in] Note [removed: 5] [added: 6] within the Consolidated Financial Statements.

Upon closing, we contributed [removed: $17.0] [added: $8.4] million in exchange for a 20% partnership interest in the joint venture.

- In [removed: August,] [added: November,] we settled [removed: all] five forward sale agreements [added: executed] under the [removed: Equity Forward Amendment] [added: 2022 ATM Program] and sold [removed: 579,873] [added: 564,126] shares of our common stock for approximately [removed: $393.6] [added: $433.3] million, net of payment of commissions to sales agents and other offering expenses, at an aggregate weighted-average forward sale price [removed: of $678.72] per [removed: share.][added: share of $768.03.]

Our results of operations for the year ended December 31, [removed: 2022] [added: 2023] include the results of operations from a data center in Peru acquired from Entel from August 1, 2022, four data centers in Chile acquired from Entel from May 2, [removed: 2022,] [added: 2022 and] the acquisition of MainOne from April 1, [removed: 2022 and two data centers acquired from GPX India from September 1, 2021.][added: 2022.]

Years ended December 31, [removed: 2022] [added: 2023] and [removed: 2021][added: 2022]

Revenues. Our revenues for the years ended December 31, [removed: 2022] [added: 2023] and [removed: 2021] [added: 2022] were generated from the following revenue classifications and geographic regions (dollars in thousands):

| | | | [removed: 2022] [added: 2023] | | | | | | % | | | | | | [removed: 2021] [added: 2022] | | | | | | % | | | | | | Actual | | | | | | Actual | | | | | | Constant Currency | | |

| Non-recurring revenues | | | [removed: 166,026] [added: 160,539] | | | | | | 2% | | | | | | [removed: 159,814] [added: 166,026] | | | | | | [removed: 3%] [added: 2%] | | | | | | [removed: 6,212] [added: (5,487)] | | | | | | [removed: 4%] [added: (3)%] | | | | | | [removed: 4%] [added: (3)%] | | |

| Non-recurring revenues | | | [removed: 89,917] [added: 93,169] | | | | | | 1% | | | | | | [removed: 101,953] [added: 89,917] | | | | | | 1% | | | | | | [removed: (12,036)] [added: 3,252] | | | | | | [removed: (12)%] [added: 4%] | | | | | | [removed: (3)%] [added: 7%] | | |

| Non-recurring revenues | | | [removed: 391,818] [added: 443,405] | | | | | | 5% | | | | | | [removed: 415,052] [added: 391,818] | | | | | | [removed: 6%] [added: 5%] | | | | | | [removed: (23,234)] [added: 51,587] | | | | | | [removed: (6)%] [added: 13%] | | | | | | [removed: 1%] [added: 13%] | | |

[removed: ][added: ]

*Americas Revenues.* During the year ended December 31, [removed: 2022,] [added: 2023,] Americas revenue increased by [removed: $327.5] [added: $268.3] million or [removed: 11%] [added: 8%] (and also [removed: 11%] [added: 8%] on a constant currency basis).

- [removed: approximately $30.3] [added: $27.1] million of incremental revenues generated from the Entel Chile and Entel Peru acquisitions; [added: and]

- [removed: $44.6] [added: approximately $7.9] million of incremental revenues generated from our IBX data center expansions; and

*EMEA Revenues.* During the year ended December 31, [removed: 2022,] [added: 2023,] EMEA revenue increased by [removed: $188.0] [added: $494.7] million or [removed: 9% (12%] [added: 21% (28%] on a constant currency basis).

- [removed: $59.6] [added: $15.1] million of incremental revenues generated from the MainOne acquisition; [added: and]

- approximately [removed: $32.0] [added: $69.2] million of incremental revenues generated from our IBX data center expansions;

- [removed: $9.3] [added: $54.6] million of incremental revenues from services provided to our joint ventures; [removed: and]

*Asia-Pacific Revenues.* During the year ended December 31, [removed: 2022,] [added: 2023,] Asia-Pacific revenue increased by [removed: $112.1] [added: $162.1] million or [removed: 8% (16%] [added: 10% (12%] on a constant currency basis).

- approximately [removed: $60.2] [added: $47.8] million of incremental revenues generated from our IBX data center expansions;

- [removed: incremental revenues generated from] power price increases in [removed: Singapore in] response to the increased cost of [removed: utilities as noted below.][added: utilities.]


They also look to Platform Equinix® for the ability to directly and securely


On December 13, 2023, we paid a quarterly cash dividend of $4.26 per share.

2023 Highlights:

- In February, we settled three forward sale agreements executed under the 2020 and 2022 ATM Programs and sold 458,459 shares of our common stock for approximately $301.6 million, net of payment of commissions to sales agents and other offering expenses, at an aggregate weighted-average forward sale price per share of $657.75.

- In February and March, we issued ¥77.3 billion, or approximately $565.2 million, at the exchange rate in effect on issuance, in Japanese Yen Senior Notes due 2035 and 2043 (collectively, the "Japanese Yen Senior Notes*"*).

- In April, we issued additional shares in our Indonesian operating entity to a third party investor for $25.0 million, which resulted in the third party investor owning a 25% ownership interest in the entity.

- In September, we issued CHF300.0 million, or approximately $336.9 million, at the exchange rate in effect on issuance, in Swiss Franc Notes due 2028 (the "Swiss Franc Senior Notes").

| Recurring revenues | | | $ | 3,456,953 | | | | | 42% | | | | | | $ | 3,183,191 | | | | | 44% | | | | | | $ | 273,762 | | | | | 9% | | | | | | 9% | | |

| | | | 3,617,492 | | | | | | 44% | | | | | | 3,349,217 | | | | | | 46% | | | | | | 268,275 | | | | | | 8% | | | | | | 8% | | |

| Recurring revenues | | | 2,648,157 | | | | | | 33% | | | | | | 2,207,329 | | | | | | 30% | | | | | | 440,828 | | | | | | 20% | | | | | | 28% | | |

| Non-recurring revenues | | | 189,697 | | | | | | 2% | | | | | | 135,875 | | | | | | 2% | | | | | | 53,822 | | | | | | 40% | | | | | | 36% | | |

| | | | 2,837,854 | | | | | | 35% | | | | | | 2,343,204 | | | | | | 32% | | | | | | 494,650 | | | | | | 21% | | | | | | 28% | | |

| Recurring revenues | | | 1,639,621 | | | | | | 20% | | | | | | 1,480,767 | | | | | | 21% | | | | | | 158,854 | | | | | | 11% | | | | | | 13% | | |

| | | | 1,732,790 | | | | | | 21% | | | | | | 1,570,684 | | | | | | 22% | | | | | | 162,106 | | | | | | 10% | | | | | | 12% | | |

| Recurring revenues | | | 7,744,731 | | | | | | 95% | | | | | | 6,871,287 | | | | | | 95% | | | | | | 873,444 | | | | | | 13% | | | | | | 15% | | |

| | | | $ | 8,188,136 | | | | | 100% | | | | | | $ | 7,263,105 | | | | | 100% | | | | | | $ | 925,031 | | | | | 13% | | | | | | 15% | | |


Growth in EMEA revenues was primarily due to power price increases in various European countries in response to the increased cost of utilities, as noted below under cost of revenues.

In addition to power price increases, growth in EMEA revenues was further driven by:

Growth in Asia-Pacific revenue was primarily due to an increase in orders from both our existing customers and new customers during the period.

In addition to organic growth, the increase in Asia-Pacific revenues was further driven by:

| Americas | | | $ | 1,616,167 | | | | | 38% | | | | | | $ | 1,560,799 | | | | | 42% | | | | | | $ | 55,368 | | | | | 4% | | | | | | 4% | | |

| EMEA | | | 1,653,008 | | | | | | 39% | | | | | | 1,281,023 | | | | | | 34% | | | | | | 371,985 | | | | | | 29% | | | | | | 34% | | |

| Total | | | $ | 4,227,658 | | | | | 100% | | | | | | $ | 3,751,501 | | | | | 100% | | | | | | $ | 476,157 | | | | | 13% | | | | | | 15% | | |

- $10.8 million of additional one-time software expenses related to our managed services business.

The increase in our EMEA cost of revenues was primarily due to higher utilities costs as a result of increases in power costs and higher utility usage in France, Germany, the Netherlands, Switzerland and the United Kingdom.

◦approximately $12 million of repairs and maintenance driven by increased IBX footprint; and

- $12.4 million of repairs and maintenance driven by increased IBX footprint;

primarily due to headcount growth.

| Americas | | | $ | 553,107 | | | | | 64% | | | | | | $ | 501,943 | | | | | 64% | | | | | | $ | 51,164 | | | | | 10% | | | | | | 10% | | |

| Total | | | $ | 855,796 | | | | | 100% | | | | | | $ | 786,560 | | | | | 100% | | | | | | $ | 69,236 | | | | | 9% | | | | | | 10% | | |

- $6.4 million of higher bad debt expense;

- $5.3 million of higher advertising costs including for online ads, design services and marketing research; and

- $4.9 million of higher amortization expense as a result of recent acquisitions.

*Asia-Pacific Sales and Marketing Expenses.* During the year ended December 31, 2023, Asia-Pacific sales and marketing increased by $7.5 million or 7% (10% on a constant currency basis).

| Americas | | | $ | 1,106,613 | | | | | 67% | | | | | | $ | 980,589 | | | | | 66% | | | | | | $ | 126,024 | | | | | 13% | | | | | | 13% | | |

| EMEA | | | 319,768 | | | | | | 19% | | | | | | 301,317 | | | | | | 20% | | | | | | 18,451 | | | | | | 6% | | | | | | 10% | | |

| Asia-Pacific | | | 227,661 | | | | | | 14% | | | | | | 216,795 | | | | | | 14% | | | | | | 10,866 | | | | | | 5% | | | | | | 6% | | |

Our

The Impact of the Ongoing COVID-19 Pandemic on Our Results and Operations

We have continued to closely monitor the impact of the COVID-19 pandemic on our people and business.

As of the time of this filing, our offices are open to employees and we have also resumed in-person events as local travel restrictions allow.

For additional details regarding the impacts and risks to our results of operations from the ongoing COVID-19 pandemic, refer to "Results of Operations" section below and Part I, Item 1A.

Risk Factors included elsewhere in this Annual Report on Form 10-K.

2022 Highlights:

- In February, we entered into an equity forward amendment to our existing "at the market" equity offering program (the "2020 ATM Program"), under which we could, from time to time, offer and sell shares under the equity distribution agreement pursuant to forward sale transactions (the "Equity Forward Amendment").

- In March, we entered into a joint venture in the form of a limited liability partnership with PGIM to develop and operate additional xScale data centers in Asia-Pacific (the "Asia-Pacific 2 Joint Venture").

- In April, we completed the acquisition of MainOne Cable Company Ltd. ("MainOne"), consisting of four data centers as well as a subsea cable and terrestrial fiber network.

We acquired MainOne and its assets for a total purchase consideration of $278.4 million.

See Note 3 within the Consolidated Financial Statements.

- In April, we issued $1.2 billion aggregate principal amount of 3.900% Senior Notes due 2032 (the "2032 Notes").

- In April, we entered into a joint venture in the form of a limited liability partnership with GIC, to develop and operate two xScale data centers in Seoul, Korea (the "Asia-Pacific 3 Joint Venture").

See Note 6 within the Consolidated Financial Statements.

- In May, we completed the acquisition of four data centers in Chile from Empresa Nacional De Telecomunicaciones S.A. ("Entel") for a total purchase consideration of $638.3 million at the exchange rate in effect on May 2, 2022.

See Note 3 within the Consolidated Financial Statements.

- In August, we completed the acquisition of a data center in Peru from Entel for a purchase consideration of $80.3 million at the exchange rate in effect on August 1, 2022.

See Note 3 within the Consolidated Financial Statements.

- In August, we sold an additional 580,833 shares, excluding the forward sale transactions noted above, under the 2020 ATM Program for approximately $403.6 million in proceeds, net of payment of commissions to sales agents and other offering expenses.

- In November, we established a successor ATM program (the "2022 ATM Program"), under which we may, from time to time, offer and sell on a spot or forward basis up to an aggregate of $1.5 billion of our common stock to or through sales agents in "at the market" transactions.

| Recurring revenues | | | $ | 3,183,191 | | | | | 44% | | | | | | $ | 2,861,937 | | | | | 43% | | | | | | $ | 321,254 | | | | | 11% | | | | | | 11% | | |

| | | | 3,349,217 | | | | | | 46% | | | | | | 3,021,751 | | | | | | 46% | | | | | | 327,466 | | | | | | 11% | | | | | | 11% | | |

| Recurring revenues | | | 2,207,329 | | | | | | 30% | | | | | | 2,001,931 | | | | | | 30% | | | | | | 205,398 | | | | | | 10% | | | | | | 13% | | |

| Non-recurring revenues | | | 135,875 | | | | | | 2% | | | | | | 153,285 | | | | | | 2% | | | | | | (17,410) | | | | | | (11)% | | | | | | (1)% | | |

| | | | 2,343,204 | | | | | | 32% | | | | | | 2,155,216 | | | | | | 32% | | | | | | 187,988 | | | | | | 9% | | | | | | 12% | | |

| Recurring revenues | | | 1,480,767 | | | | | | 21% | | | | | | 1,356,617 | | | | | | 21% | | | | | | 124,150 | | | | | | 9% | | | | | | 18% | | |

| | | | 1,570,684 | | | | | | 22% | | | | | | 1,458,570 | | | | | | 22% | | | | | | 112,114 | | | | | | 8% | | | | | | 16% | | |

| Recurring revenues | | | 6,871,287 | | | | | | 95% | | | | | | 6,220,485 | | | | | | 94% | | | | | | 650,802 | | | | | | 10% | | | | | | 13% | | |

| | | | $ | 7,263,105 | | | | | 100% | | | | | | $ | 6,635,537 | | | | | 100% | | | | | | $ | 627,568 | | | | | 9% | | | | | | 12% | | |

Growth in EMEA revenues was primarily due to:

Growth in Asia-Pacific revenues was primarily due to:

- $14.3 million incremental revenues generated from the GPX India acquisition; and

| Americas | | | $ | 1,560,799 | | | | | 42% | | | | | | $ | 1,458,699 | | | | | 42% | | | | | | $ | 102,100 | | | | | 7% | | | | | | 7% | | |

| EMEA | | | 1,281,023 | | | | | | 34% | | | | | | 1,216,990 | | | | | | 35% | | | | | | 64,033 | | | | | | 5% | | | | | | 11% | | |

| Total | | | $ | 3,751,501 | | | | | 100% | | | | | | $ | 3,472,422 | | | | | 100% | | | | | | $ | 279,079 | | | | | 8% | | | | | | 12% | | |

- $48.5 million of higher utilities, primarily driven by comparatively lower costs in 2021 resulting from gains recognized from wind farm settlements in Texas and Oklahoma due to extreme weather conditions, current period increases in power costs, higher utility usage and IBX data center expansions;

*◦*approximately $11 million in depreciation expense driven by IBX data center expansions; and

- $11.4 million of incremental cost of revenues from the GPX India acquisition;

- $8.1 million of higher depreciation expense driven by IBX data center expansions in Singapore.

We anticipate that we will recover the entire cost basis of these securities and have determined that no other-than-temporary impairments associated with credit losses were required to be recognized during the year ended December 31, [removed: 2022.][added: 2023.]

As of December 31, [removed: 2022,] [added: 2023,] our investment portfolio of cash equivalents and marketable securities consisted of money market funds.

The amount in our investment portfolio that could be susceptible to market risk totaled [removed: $764.6 million.][added: $1.6 billion.]

An immediate increase or decrease in current interest rates from their position as of December 31, [removed: 2022] [added: 2023] would not have a material impact on our interest expense due to the fixed coupon rate on the majority of our debt obligations.

For every 100-basis point increase or decrease in interest rates, our annual interest expense could increase by approximately [removed: $6.1] [added: $6.4] million or decrease by approximately [removed: $6.1] [added: $6.4] million based on the total balance of our term loan borrowings as of December 31, [removed: 2022.][added: 2023.]

As of December 31, [removed: 2022,] [added: 2023,] the total notional amount of such cross-currency interest rate swaps was $280.3 million.

| | | | December 31, [removed: 2022] [added: 2023] | | | | | | | | | | | | December 31, [removed: 2021] [added: 2022] | | | | | | | | |

| Mortgage and loans payable | | | $ | [removed: 653,617] [added: 671,694] | | | | | $ | [removed: 666,387] [added: 684,222] | | | | | $ | [removed: 618,388] [added: 653,617] | | | | | $ | [removed: 621,051] [added: 666,387] | |

| Senior notes | | | [removed: 12,226,890] [added: 13,168,952] | | | | | | [removed: 10,196,933] [added: 11,739,401] | | | | | | [removed: 11,102,130] [added: 12,226,890] | | | | | | [removed: 11,049,834] [added: 10,196,933] | | |

(1)The carrying value is gross of debt issuance [removed: cost, debt discount] [added: cost] and debt [removed: premium.][added: discount.]

As of December 31, [removed: 2022,] [added: 2023,] the total principal amount of foreign currency debt obligations was [removed: $1.8] [added: $2.8] billion, including $1.2 billion denominated in Euro and [removed: $603.9] [added: $636.9] million denominated in British [removed: Pound.][added: Pound, $549.2 million denominated in Japanese Yen, $356.6 million denominated in Swiss Franc, $27.4 million denominated in Canadian Dollar and $5.8 million denominated in Nigerian Naira.]

As of December 31, [removed: 2022,] [added: 2023,] we have designated $1.5 billion of the total principal amount of foreign currency debt obligations as net investment hedges against our net investments in foreign subsidiaries.

If the U.S. Dollar would have been weaker or stronger by 10% in comparison to these foreign currencies as of December 31, [removed: 2022,] [added: 2023,] we estimate our obligation to cash settle the principal of these foreign currency debt obligations in U.S. Dollars would have increased or decreased by approximately [removed: $197.9] [added: $310.1] million and [removed: $161.9] [added: $253.7] million, respectively.

[removed: As] [added: We have designated $3.9 billion] of [removed: December 31, 2022 and 2021,] the total notional [removed: amounts] [added: amount] of cross-currency [removed: interest rate swap contracts, which have been designated] [added: swaps] as [added: net investment] hedges [removed: of] [added: against] our [removed: net] investment in foreign [removed: subsidiaries, were $3.9 billion] [added: subsidiaries] and [removed: $4.0 billion, respectively.][added: $280.3 million as cash flow hedges against a portion of our foreign currency denominated debt.]

The changes in the fair value of these [added: designated] swaps are recorded as a component of accumulated other comprehensive income (loss) in the consolidated balance sheets.

If the U.S. Dollar weakened or strengthened by 10% in comparison to foreign currencies, we estimate our obligation to cash settle these hedges would have increased or decreased by approximately [removed: $375.6] [added: $362.3] million and [removed: $307.3] [added: $294.1] million, respectively.

The U.S. Dollar [removed: strengthened] [added: weakened] relative to certain of the currencies of the foreign countries in which we operate during the year ended December 31, [removed: 2022.][added: 2023.]

With the existing cash flow hedges in place, a hypothetical additional 10% strengthening of the U.S. Dollar during the year ended December 31, [removed: 2022] [added: 2023] would have resulted in a reduction of our revenues and a reduction of our operating expenses including depreciation and amortization expense by approximately [removed: $222.1] [added: $281.9] million and [removed: $220.8] [added: $256.6] million, respectively.

With the existing cash flow hedges in place, a hypothetical additional 10% weakening of the U.S. Dollar during the year ended December 31, [removed: 2022] [added: 2023] would have resulted in an increase of our revenues and an increase of our [removed: operating expenses including depreciation and amortization expenses, by approximately $284.3 million and $283.7 million, respectively.]

We have entered into various power contracts to purchase power at fixed prices in certain locations in Australia, Brazil, [removed: Bulgaria,] Canada, [removed: China,] [added: Chile,] Finland, France, Germany, Ireland, Italy, Japan, the Netherlands, [added: Peru,] Poland, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom and the U.S.

As of December 31, 2023, the total notional amount of cross-currency interest rate swap contracts was $4.5 billion.

We have designated $3.1 billion of the total notional amount of cross-currency swaps as net investment hedges against our investment in foreign subsidiaries and $280.3 million as cash flow hedges against a portion of our foreign currency denominated debt.

The remaining $1.1 billion of cross-currency interest rate swaps were not designated as hedging instruments, but were used to offset remeasurement gains and losses from foreign currency monetary assets and liabilities.

As of December 31, 2022, the total notional amount of cross-currency interest rate swap contracts was $4.2 billion.

operating expenses including depreciation and amortization expenses by approximately $345.2 million and $320.3 million, respectively.

Platform Equinix® combines a global footprint of International Business Exchange™ [removed: ("IBX®")] [added: (IBX®)] and xScale® data centers in the Americas, Asia-Pacific, and Europe, the Middle East and Africa ("EMEA") regions, interconnection solutions, digital offerings, unique business and digital ecosystems and expert consulting and support.

[removed: Nearly] [added: Over] two and a half decades later, we have expanded upon that vision to build Platform Equinix, which we believe is unmatched in scale and reach.

With Equinix, they can scale with agility, [removed: speed] [added: accelerate] the launch of digital offerings, deliver world-class experiences and multiply their value.

This adjacency creates a network effect that attracts new customers, continuously [removed: compounds] [added: enhances] our existing customers' value and enables them to capture further economic and performance benefits from our offerings.

[removed: ][added: ]

[removed: 2022] [added: 2023] highlights include:

Private interconnection capacity between businesses, as reported in GXI [removed: 2023,] [added: 2024,] is anticipated to grow at a compound annual growth rate [added: ("CAGR")] of [removed: 40%] [added: 34%] by [removed: 2025,] [added: 2026, potentially] reaching [removed: 27,762] [added: 33,578] terabits per second of data exchanged annually.

Worldwide Interconnection Bandwidth Capacity [removed: Growth (2020] [added: CAGR (2022] - [removed: 2025)] [added: 2026)] in Terabits per Second (Tbps)

[removed: ][added: ]

Source: GXI [removed: 2023][added: 2024]

In [removed: 2022,] [added: 2023,] we continued to build new digital [added: offerings] and data center offerings to further our vision to power the world’s digital leaders.

[removed: We enable] competitive advantage for our customers and partners by creating the foundational infrastructure capabilities that power worldwide businesses.

[removed: ][added: ]

The following are the leading revenue-generating [removed: product] [added: products] and other offerings that collectively make up Platform Equinix:

Our footprint consists of [removed: 248] [added: 250+] data [removed: centers:][added: centers worldwide:]

- [removed: International Business Exchange] [added: IBX] Data Centers are our vendor-neutral colocation data centers worldwide, providing our customers with secure, reliable and robust environments (including space and power) that are necessary to aggregate and distribute information and connect digital and business [added: ecosystems globally.]

- Secure Cabinet Express are ready-for-service Secure Cabinets [removed: which] [added: that] are pre-configured to an Equinix recommended, and most common, cabinet configuration.

Equinix offers a variety of enabling solutions [removed: which] [added: that] support a customer's need to implement, operate and maintain [removed: their] [added: its] colocated deployments.

These solutions include both on-consumption and subscription services which may generate [removed: monthly recurring revenue ("MRR")] [added: MRR] as well as non-recurring revenue ("NRR").

- [removed: IBX] [added: Equinix] SmartView® is a fully integrated monitoring software [removed: which] [added: that] provides customers visibility into the operating data relevant to their specific Equinix footprint as if they were in-house.

The software provides online access to real-time environmental and operating data through the Equinix Customer Portal or via either REST [removed: (APIs] [added: (application programming interfaces ("APIs")] that provide customers the ability to retrieve information about their assets from every IBX location) or streaming API integrations.

With real-time alerts and configurable reporting, [removed: IBX] [added: Equinix] SmartView allows customers to maintain their IBX operations and plan for future growth.

[removed: EIS] [added: ESBs] are repeatable, proven processes [removed: which] [added: that] address larger, more complex data center jobs, including installation and implementation of new [removed: builds,] [added: builds] and planned migrations.

[removed: EIS] [added: ESB] practices deliver Equinix expertise in colocation design to optimize our customers’ data center needs, including structured cabling, [removed: labelling] [added: labeling] and documentation, procurement recommendations and coordination, and secure de-installation.

DevOps, a combination of "development" and [removed: "operations",] [added: "operations,"] aligns collaboration between software development [removed: (Dev)] [added: ("Dev")] and IT operations [removed: (Ops)] [added: ("Ops")] skills and experiences to build, test and deploy APIs and other functionalities quickly.

While a large number of enterprises and service providers, such as hyperscale cloud service providers, own their own data centers, we believe the industry is shifting away from single-tenant solutions to [added: customers] outsourcing some or all of their IT housing and interconnection requirements to [removed: third party] [added: third-party] facilities, such as those operated by [removed: us.][added: Equinix.]

This shift is being accelerated by the increasing adoption of hybrid multicloud [removed: architectures.][added: architectures and the adoption of artificial intelligence.]

Historically, the outsourcing market was served by large telecommunications carriers [removed: who] [added: that] bundled their products and services with their colocation offerings.

[added: We believe that this outsourcing trend has] accelerated and is likely to continue to accelerate in the coming years, especially in light of the movement to digital [removed: business and] [added: business,] the use of multiple cloud service [removed: providers.][added: providers, and the adoption of artificial intelligence.]

This ecosystem creates a “network [removed: effect”] [added: effect,”] which improves performance and lowers [added: the] cost for our customers, enabling them to become digital leaders, and is a significant source of competitive advantage for Equinix.

Additionally, our digital solutions portfolio enables customers to bring together physical and programmable technologies like compute, storage, network and [removed: applications,] [added: applications] to build a foundation for their company's digital operations.

We provide each company access to a choice of business partners and solutions based on their colocation, interconnection and managed IT service needs, and delivered [removed: 99.9999%] [added: 99.999%+] operational uptime across our global data centers in [removed: 2022.][added: 2023.]

As of December 31, [removed: 2022,] [added: 2023,] we had over 10,000 customers worldwide.

No one customer made up 10% or more of our total business revenues for the year ended December 31, [removed: 2022.][added: 2023.]

As of December 31, [removed: 2022,] [added: 2023,] we had [removed: 12,097] [added: 13,151] employees worldwide with [removed: 5,493] [added: 5,953] based in the Americas, [removed: 3,936] [added: 4,267] based in EMEA and [removed: 2,668] [added: 2,931] based in Asia-Pacific.

Of those employees, [removed: 5,130] [added: 5,617] employees were in engineering and operations, [removed: 1,985] [added: 2,089] employees were in sales and marketing and [removed: 4,982] [added: 5,445] employees were in management, finance and administration.

Women's representation in leadership (defined as VP and above) [removed: remained constant at 31% year-over-year.][added: increased year-over-year to 32%.]

In [removed: 2022,] [added: 2023,] employee satisfaction scores remained steady between [removed: 81-82] [added: 83-84] out of 100 each quarter, resulting in [removed: a] [added: an average] score [added: of 83] for [removed: Equinix three] [added: Equinix, six] points higher than the benchmark score of the top [removed: 20th] [added: 25th] percentile of other companies.

In [removed: 2022,] [added: 2023,] we continued to enhance our portfolio of development programs for our employees and [removed: gained full adoption] [added: continued use] of a system-enabled approach to goal setting, development planning and performance assessment to support objectivity and accountability in our talent management process.

We offer development tools and opportunities to our employees such as online learning, manager training, [added: including on bias mitigation and cultural humility,] professional coaching and 360-degree assessments for eligible employees as well as our leadership program specifically designed for high potential employees at the Director level and above.

In 2023, we opened nine new data centers, inclusive of new xScale sites via our joint ventures.

Our new data center openings included sites in the following metros: Bogotá, Dubai, Dublin, Frankfurt, Madrid, Milan, Montreal, Tokyo and Washington D.C. When including five additional data centers which opened in January 2024, this results in an increase in our total number of data center facilities to 260.

- In February, we announced plans to build and operate a second IBX data center in Barcelona, Spain.

The new site will serve as a strategic connection point for data communications between Europe, Africa and the Middle East, with Barcelona quickly becoming a vital subsea hub.

- In June, we announced our plans for expansion into Malaysia, with an additional investment of more than $100 million to help businesses capitalize on the country’s digital transformation and economic growth.

We opened our first data center in Kuala Lumpur in January 2024, which followed our expansion announcement to enter Malaysia with a data center in Johor.

- In August, we announced our plans for expansion of our footprint in Mumbai, India, to address the country’s rising demand for digital infrastructure.

The new facility, called MB4, will bring Equinix’s total data centers in the country to four.

MB4 will offer expanded connectivity options to major telecommunications networks along with Metro Connect® availability to the highly connected Equinix data center sites of MB1 and MB2.

The first phase of MB4 is expected to open in Q1 2024 and will provide an initial capacity of 350 cabinets.

When fully built out, the facility is expected to provide 700 cabinets.

- In September, we opened our new IBX data center in Montreal, Quebec ("MT2") to support customer expansions in one of the fastest-growing edge metros in the world.

MT2 is our second data center in the metro and brings the full value of our platform and portfolio of solutions to Canadian businesses, including those in the rapidly growing financial services, gaming and aerospace sectors.

- We also announced an expanded relationship with Southern Cross Cables Limited ("Southern Cross") in September, which will provide a key U.S.-based interconnectivity access point for the Southern Cross NEXT ("SX NEXT") submarine cable system.

SX NEXT leverages our next-generation cable landing station ("CLS") architecture, enabling rapid provisioning and cost savings.

Industry Trends: Ecosystems unlock digital opportunity

The digital economy is growing and evolving dynamically.

There is a constant influx of new digital product and service providers and related digital consumers, resulting in new ecosystems forming across all industries.

Leading organizations are using digital infrastructure as a strong foundation for scalability and flexibility.

They are scaling into more markets, with greater flexibility, having invested in cutting-edge capabilities.

Additionally, their participation in digital marketplaces offers significant advantages.

Several trends have emerged as a result of these changing business models.

The majority of global growth in Gross Domestic Product ("GDP") and revenue is coming from digital services.

Digital revenue sources will be the primary drivers of economic growth in the next decade.

As companies strive to shift from traditional to digital services, only half of companies analyzed, as shown by the Global Interconnection Index 2024 ("GXI"), a market study published by Equinix, are taking advantage of this opportunity.

The GXI data shows that many enterprises are expanding from being consumers to providers of digital services, and not all organizations are moving fast enough.

- The digital participation trend shows that more companies are leveraging digital ecosystems to collaborate and offer services back into the marketplaces faster than ever before.

Each industry is growing its own forms of electronic exchange.

Data in the GXI shows that companies are tapping into the sharing economy to create new revenue streams, showing a rapid growth curve, while fast followers (companies replicating what digital leaders are doing) are shifting gears to succeed by doubling their ecosystem interactions— doing more with less investment.

- The digital proximity trend indicates that companies are bringing their capabilities closer to business operations globally for differentiated value and revenue benefits.

Additionally, as data grows exponentially, it is being distributed in proximity to where business happens.

Companies need to make faster decisions, at greater scale and complexity, with more sources of data.

As shown in the GXI, industries are gaining competitive advantage by investing in edge technologies.

- The sustainability trend reveals market expectations and industry regulations are making organizations prioritize sustainability and hold themselves and their business partners accountable.

Sustainable businesses rely on innovation, sustainable technology and efficient digital practices to reduce emissions and achieve net-zero goals.

Leaders are involving their supply chain partners, including data centers, to ensure they reduce carbon emissions.

Companies also are using more efficient technologies to strengthen a sustainable foundation and scale business.

- Technology adoption trends like composable business--with companies leveraging as-a-Service offerings for commoditized functions and the emergence of artificial intelligence ("AI") ecosystems to improve efficiency and productivity are also strong trends in the market.

We enable


In 2022, we opened or acquired 13 new IBX data centers, opened three new xScale data centers via our joint ventures, and entered three new markets resulting in an increase in our total number of IBX and xScale data center facilities to 248.

- New data center openings included 13 new IBX sites in the following metros: Abidjan, Accra, Genoa, Lagos, Lima, Munich, Manchester, Paris and Santiago.

- Three additional xScale sites opened in 2022 in Frankfurt, Dublin and Sydney, bringing our total number of xScale data centers to 11.

xScale data centers serve the needs of the growing hyperscale data center market, including the world's largest cloud service providers, and are engineered to meet the technical and operational requirements and price points of core hyperscale workload deployments.

xScale data centers also offer access to our comprehensive suite of interconnection and edge offerings that tie into the hyperscale companies' existing access points at Equinix, thereby increasing the speed of connectivity to their existing and future enterprise customers.

In xScale sites, hyperscale companies can consolidate core and access point deployments into one global provider to streamline and simplify their growth.

- In December, we announced plans to enter the South Africa market with a $160 million IBX data center investment in Johannesburg that augments our current footprint on the African continent.

With our South Africa expansion, Equinix is entering one of the largest and most digitally developed nations on the African continent.

The new data center is expected to open in the middle of 2024.

- In November, we announced plans to enter the Malaysia market with a $40 million IBX data center investment.

Equinix's expansion in Malaysia will offer opportunities for Malaysian businesses expanding internationally and for multinational corporations pursuing growth and innovation in the Malaysian market.

Located in Johor, the new data center is expected to open in the first half of 2024.

- In October, we announced our plans for expansion into Indonesia, with an approximately $74 million IBX data center investment in the heart of Jakarta.

Driven by rapid business digitalization and a substantial digital-savvy population, Indonesia has emerged as Southeast Asia's largest digital economy in value, and is expected to be a key hub of interconnection in the region.

- We also announced in October a $45 million investment in a new facility in Bogota, Colombia, scheduled to open in the first half of 2023.

This will be our second data center in Colombia and further reinforces Equinix’s commitment to strengthening the digital economy across Latin America.

- In September, we opened a new IBX data center in Paris, France.

Part of Equinix's Saint-Denis campus, the new site ("PA10") represents the tenth data center opened by Equinix in Paris.

The new $163 million facility will incorporate multiple sustainability best practices, including heat recovery technology directly connected to Paris’s Saint-Denis urban heating network.

*•*In August, we completed our acquisition of a data center in Lima, Peru, from Empresa Nacional De Telecomunicaciones S.A. ("Entel"), a leading Chilean telecommunications provider, for a total purchase consideration of $80.3 million at the exchange rate in effect on the date of signing.

- In June, Equinix and PGIM Real Estate, the real estate investment and financing arm of PGIM, Prudential Financial's global asset management business, opened the first xScale data center in Sydney ("SY9x").

This milestone followed the closing of the $575 million joint venture between the parties in March of 2022.

*•*Extending our presence deeper into Latin America in May, we completed the acquisition of four data centers in Chile, from Entel, for a total purchase consideration of $638.3 million at the exchange rate in effect on the date of signing.

- In April, we entered Africa, closing on our $278.4 million acquisition of MainOne, a leading West African data center and connectivity solutions provider, with presence in Nigeria, Ghana and Côte d'Ivoire.

The completion of the acquisition augmented Equinix's long-term strategy to become a leading African carrier-neutral digital infrastructure company by being able to bring a full range of transformative technologies and connectivity to Nigeria, Ghana and Cote d'Ivoire.

- Our new IBX data center in Aschheim, near Munich, Germany (“MU4”), opened in February to support the growing digital needs of local companies—particularly from the automotive, industrial, financial and healthcare sectors—providing them with direct, secure and fast connectivity to a multitude of cloud providers, services and partners.

Like other new Equinix builds in Germany, it was designed in line with Equinix’s global sustainability strategy, featuring a green façade and partially planted roof.

Additionally, the data center is expected to be powered by 100% renewable energy—purchased through a green power certificate from local supplier, Mainova.

- In January, we signed a joint venture agreement with GIC in Singapore to develop and operate two xScale data centers in Seoul, Korea.

The joint venture will bring our global xScale data center portfolio to more than $8 billion across 36 facilities.

Industry Trends: Large-scale global trends are driving a digital-first strategy

Digital transformation is changing where and how businesses deploy and deliver IT services to employees and is creating new digital business models for partners and customers.

The convergence of these global trends has created additional pressure for many companies to transform.

The collective influence of these trends is driving complexity and risk that must be addressed in multiple locations for companies to effectively compete in the global digital economy.

Digital transformation investment levels for 2022–2024 are expected to be $6.3 trillion and 55% of all Information and Communication Technology ("ICT") investment by the end of 2024.

This forces the need for a digital infrastructure optimized for proximity to, and interconnection with, networks and clouds.

This in turn enables digital development with elastic scale.

IT becomes a revenue-generating function and the basis of competitive advantage for developing connected product bundles.

- The digital participation trend is digitizing trade and accessing digital marketplaces (digital B2B commerce) where goods and services are exchanged in the digital economy.

Leveraging ecosystem and network effects optimizes collaboration and compounds business value.

For the fiscal year ended December 31, [removed: 2022][added: 2023]

The aggregate market value of the voting and non-voting common stock held by non-affiliates computed by reference to the price at which the common stock was last sold as of the last business day of the registrant's most recently completed second fiscal quarter was approximately [removed: $60.0] [added: $73.0] billion.

As of February [removed: 16, 2023,] [added: 15, 2024,] a total of [removed: 92,744,713] [added: 94,621,449] shares of the registrant's common stock were outstanding.

Part III – Portions of the registrant's definitive proxy statement to be issued in conjunction with the registrant's [removed: 2023] [added: 2024] Annual Meeting of Stockholders, which is expected to be filed not later than 120 days after the registrant's fiscal year ended December 31, [removed: 2022.][added: 2023.]

| Item | | | [PART [removed: I](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_10)] [added: I](#i0573b9f0550b4a3a8a05ec0aa8d4a413_10)] | | | Page No. | | |

| | | | [Forward-Looking [removed: Statements](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_13)] [added: Statements](#i0573b9f0550b4a3a8a05ec0aa8d4a413_13)] | | | [removed: [3](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_13)] [added: [3](#i0573b9f0550b4a3a8a05ec0aa8d4a413_13)] | | |

| | | | [Summary of Risk [removed: Factors](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_16)] [added: Factors](#i0573b9f0550b4a3a8a05ec0aa8d4a413_16)] | | | [removed: [3](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_16)] [added: [3](#i0573b9f0550b4a3a8a05ec0aa8d4a413_16)] | | |

| 1A. | | | [Risk [removed: Factors](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_22)] [added: Factors](#i0573b9f0550b4a3a8a05ec0aa8d4a413_22)] | | | [removed: [18](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_22)] [added: [17](#i0573b9f0550b4a3a8a05ec0aa8d4a413_22)] | | |

| 1B. | | | [Unresolved Staff [removed: Comments](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_25)] [added: Comments](#i0573b9f0550b4a3a8a05ec0aa8d4a413_25)] | | | [removed: [42](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_25)] [added: [42](#i0573b9f0550b4a3a8a05ec0aa8d4a413_25)] | | |

| 3. | | | [Legal [removed: Proceedings](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_31)] [added: Proceedings](#i0573b9f0550b4a3a8a05ec0aa8d4a413_31)] | | | [removed: [47](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_31)] [added: [49](#i0573b9f0550b4a3a8a05ec0aa8d4a413_31)] | | |

| 5. | | | [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity [removed: Securities](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_40)] [added: Securities](#i0573b9f0550b4a3a8a05ec0aa8d4a413_40)] | | | [removed: [48](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_40)] [added: [50](#i0573b9f0550b4a3a8a05ec0aa8d4a413_40)] | | |

| 7. | | | [Management's Discussion and Analysis of Financial Condition and Results of [removed: Operations](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_46)] [added: Operations](#i0573b9f0550b4a3a8a05ec0aa8d4a413_46)] | | | [removed: [50](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_46)] [added: [52](#i0573b9f0550b4a3a8a05ec0aa8d4a413_46)] | | |

| 7A. | | | [Quantitative and Qualitative Disclosures About Market [removed: Risk](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_70)] [added: Risk](#i0573b9f0550b4a3a8a05ec0aa8d4a413_70)] | | | [removed: [73](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_70)] [added: [74](#i0573b9f0550b4a3a8a05ec0aa8d4a413_70)] | | |

| 8. | | | [Financial Statements and Supplementary [removed: Data](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_73)] [added: Data](#i0573b9f0550b4a3a8a05ec0aa8d4a413_73)] | | | [removed: [75](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_73)] [added: [76](#i0573b9f0550b4a3a8a05ec0aa8d4a413_73)] | | |

| 9. | | | [Changes in and [removed: Disagreements](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_76) [w](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_76)[ith] [added: Disagreements with] Accountants on Accounting and Financial [removed: Disclosure](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_76)] [added: Disclosure](#i0573b9f0550b4a3a8a05ec0aa8d4a413_76)] | | | [removed: [75](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_76)] [added: [76](#i0573b9f0550b4a3a8a05ec0aa8d4a413_76)] | | |

| 9A. | | | [Controls and [removed: Procedures](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_79)] [added: Procedures](#i0573b9f0550b4a3a8a05ec0aa8d4a413_79)] | | | [removed: [75](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_79)] [added: [76](#i0573b9f0550b4a3a8a05ec0aa8d4a413_79)] | | |

| 9B. | | | [Other [removed: Information](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_82)] [added: Information](#i0573b9f0550b4a3a8a05ec0aa8d4a413_82)] | | | [removed: [76](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_82)] [added: [77](#i0573b9f0550b4a3a8a05ec0aa8d4a413_82)] | | |

| 9C. | | | [Disclosure Regarding Foreign Jurisdictions that Prevent [removed: Inspections](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_85)] [added: Inspections](#i0573b9f0550b4a3a8a05ec0aa8d4a413_85)] | | | [removed: [76](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_85)] [added: [77](#i0573b9f0550b4a3a8a05ec0aa8d4a413_85)] | | |

| | | | [PART [removed: III](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_88)] [added: III](#i0573b9f0550b4a3a8a05ec0aa8d4a413_88)] | | | | | |

| 10. | | | [Directors, Executive Officers and Corporate [removed: Governance](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_91)] [added: Governance](#i0573b9f0550b4a3a8a05ec0aa8d4a413_91)] | | | [removed: [76](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_91)] [added: [78](#i0573b9f0550b4a3a8a05ec0aa8d4a413_91)] | | |

| 11. | | | [Executive [removed: Compensation](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_94)] [added: Compensation](#i0573b9f0550b4a3a8a05ec0aa8d4a413_94)] | | | [removed: [77](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_94)] [added: [78](#i0573b9f0550b4a3a8a05ec0aa8d4a413_94)] | | |

| 12. | | | [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder [removed: Matters](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_97)] [added: Matters](#i0573b9f0550b4a3a8a05ec0aa8d4a413_97)] | | | [removed: [77](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_97)] [added: [78](#i0573b9f0550b4a3a8a05ec0aa8d4a413_97)] | | |

| 13. | | | [Certain Relationships and Related Transactions, and Director [removed: Independence](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_100)] [added: Independence](#i0573b9f0550b4a3a8a05ec0aa8d4a413_100)] | | | [removed: [77](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_100)] [added: [78](#i0573b9f0550b4a3a8a05ec0aa8d4a413_100)] | | |

| 14. | | | [Principal Accounting Fees and [removed: Services](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_103)] [added: Services](#i0573b9f0550b4a3a8a05ec0aa8d4a413_103)] | | | [removed: [77](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_103)] [added: [78](#i0573b9f0550b4a3a8a05ec0aa8d4a413_103)] | | |

| | | | [PART [removed: IV](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_106)] [added: IV](#i0573b9f0550b4a3a8a05ec0aa8d4a413_106)] | | | | | |

| 15. | | | [removed: [Exhibits,] [added: [Exhibits](#i0573b9f0550b4a3a8a05ec0aa8d4a413_109) [and] Financial Statement [removed: Schedules](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_109)] [added: Schedules](#i0573b9f0550b4a3a8a05ec0aa8d4a413_109)] | | | [removed: [78](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_109)] [added: [79](#i0573b9f0550b4a3a8a05ec0aa8d4a413_109)] | | |

| 16. | | | [Form 10-K [removed: Summary](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_115)] [added: Summary](#i0573b9f0550b4a3a8a05ec0aa8d4a413_115)] | | | [removed: [84](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_115)] [added: [85](#i0573b9f0550b4a3a8a05ec0aa8d4a413_115)] | | |

| | | | [removed: [Signatures](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_118)] [added: [Signatures](#i0573b9f0550b4a3a8a05ec0aa8d4a413_118)] | | | [removed: [85](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_118)] [added: [86](#i0573b9f0550b4a3a8a05ec0aa8d4a413_118)] | | |

[removed: Risks] [added: *Risks] Related to the Macro [removed: Environment][added: Environment*]

- Inflation in the global economy, increased interest [removed: rates] [added: rates, political dissension] and adverse global economic conditions, like the ones we are currently experiencing, could negatively affect our business and financial condition.

- Our business could be harmed by increased costs to procure power, prolonged power outages, shortages or capacity constraints as well as [removed: restrictions on] [added: insufficient] access to power.

[removed: Risks] [added: *Risks] Related to our [removed: Operations][added: Operations*]

- We experienced [removed: an information technology security breach] [added: a cybersecurity incident] in the past and may be vulnerable to future security breaches, which could disrupt our operations and have a material adverse effect on our business, results of operation and financial condition.

- If we are unable to implement our evolving organizational [removed: structure] [added: structure,] or if we are unable to recruit or retain key executives and qualified personnel, our business could be harmed.

- The use of [removed: high power] [added: high-power] density equipment may limit our ability to fully utilize our older IBX data centers.

[removed: Risks] [added: *Risks] Related to our Offerings and [removed: Customers][added: Customers*]

[removed: Risks] [added: *Risks] Related to our Financial [removed: Results][added: Results*]

[removed: Risks] [added: *Risks] Related to Our Expansion [removed: Plans][added: Plans*]

- Our construction of new IBX data [removed: centers or] [added: centers,] IBX data center expansions [added: or IBX data center redevelopment] could involve significant risks to our business.

- If we cannot effectively manage our international [removed: operations,] [added: operations] and successfully implement our international expansion plans, [removed: or comply with evolving laws and regulations,] our [removed: revenues may not increase, our costs may increase and our] business and results of operations would be [removed: harmed.][added: adversely impacted.]


If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to § 240.10D-1(b).

| | | | December 31, 2023 | | | | | |

| 1. | | | [Business](#i0573b9f0550b4a3a8a05ec0aa8d4a413_19) | | | [5](#i0573b9f0550b4a3a8a05ec0aa8d4a413_19) | | |

| 1C. | | | [Cybersecurity](#i0573b9f0550b4a3a8a05ec0aa8d4a413_1724) | | | [43](#i0573b9f0550b4a3a8a05ec0aa8d4a413_1724) | | |

| 2. | | | [Properties](#i0573b9f0550b4a3a8a05ec0aa8d4a413_28) | | | [45](#i0573b9f0550b4a3a8a05ec0aa8d4a413_28) | | |

| 4. | | | [Mine Safety Disclosures](#i0573b9f0550b4a3a8a05ec0aa8d4a413_34) | | | [49](#i0573b9f0550b4a3a8a05ec0aa8d4a413_34) | | |

| | | | [PART II](#i0573b9f0550b4a3a8a05ec0aa8d4a413_37) | | | | | |

| 6. | | | Reserved | | | [51](#i0573b9f0550b4a3a8a05ec0aa8d4a413_43) | | |

- The ongoing military conflicts between Russia and Ukraine and in the Middle East could negatively affect our business and financial condition.

- Geopolitical events contribute to an already complex and evolving regulatory landscape.

If we cannot comply with the evolving laws and regulations in the countries in which we operate, we may be subject to

litigation and/or sanctions, adverse revenue impacts, increased costs and our business and results of operations could be negatively impacted.

| | | | December 31, 2022 | | | | | |

| 1. | | | [Business](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_19) | | | [5](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_19) | | |

| 2. | | | [Properties](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_28) | | | [43](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_28) | | |

| 4. | | | [Mine Safety Disclosure](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_34) | | | [47](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_34) | | |

| | | | [PART II](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_37) | | | | | |

| 6. | | | Reserved | | | [49](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_43) | | |

| | | | [Index to Exhibits](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_121) | | | [87](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_121) | | |

- We are currently operating in a period of economic uncertainty and capital markets disruption, which has been the result of many global macro-economic factors including the ongoing military conflict between Russia and Ukraine.

These macro-economic and other factors could negatively affect our business and financial condition.

- Industry consolidation may have a negative impact on our business model.

Equinix Risk Management and Strategy

Equinix has processes for assessing, identifying, and managing material risks from cybersecurity threats, both integrated into our Governance, Risk and Compliance Program (the “GRC Program”) and existing within our Information Security function (“InfoSec”) led by our Chief Information Security Officer (“CISO”).

The foundation of risk oversight at Equinix is our Governance, Risk and Compliance Committee (“GRCC”), led by our Chief Compliance Officer, and overseen by the Nominating and Governance Committee of our Board.

The GRCC is a global, cross-functional group currently comprised of our most senior leaders, across functions such as Legal, Compliance and Risk Management.

The GRCC considers enterprise and emerging risks via Equinix’s Enterprise Risk Management Program (the “ERM Program”).

Our ERM Program focuses on the identification, assessment, management, monitoring and reporting of key business risks.

Risk identification involves periodic risk surveys and/or risk interviews with key business process owners and executives to identify key strategic, operational, financial, regulatory, compliance and external risks at the enterprise level.

We completed a global risk assessment in 2023 to identify enterprise risks.

In addition, the ERM Program also includes an Emerging Risks Team of business leaders at Equinix, representing a majority of business functions, that meets monthly to identify fast-moving, potentially impactful risks.

The GRCC prioritizes top enterprise and emerging risks for reporting to, and dialogue with, our executive staff at least quarterly, and from this discussion, risks are presented to the Nominating and Governance Committee to consider for further assessment and report-out either to a committee or the full Board as appropriate.

The ERM Program works with those responsible for a given area of risk to gather, evaluate, and prioritize risk information for this assessment process through use of an enterprise risk profile document.

Top risks, including those related to cybersecurity, are evaluated through a detailed risk assessment, and the risks are reexamined periodically as needed.

InfoSec performs an annual refresh of an information security risk profile document as required by this process, and the results of such assessment are reported out for escalation, prioritization and reporting on an annual basis.

Cybersecurity Risk Management and Strategy

Equinix cybersecurity risk management activities and outcomes are guided by the National Institute of Standards and Technology (“NIST”) Cybersecurity Framework (“CSF”) and assessed by a third party.

In addition, our cybersecurity program is certified globally against the International Organization for Standardization (“ISO”) 27001 standards.

Currently, our cybersecurity program includes the following key categories of security controls with many security capabilities serving under each category Governance, Access Control, Awareness and Training, Audit and Accountability, Configuration Management, Contingency Planning, Incident Response, Data Security, Continuous Monitoring, Maintenance Controls, Media Protection, Physical Protections, Risk Assessment, Third-Party Risk Management, System and Communications Projection, and System and Information Integrity.

Equinix has also implemented controls designed to identify and mitigate cybersecurity risk associated with our use of third-party service providers, such as security risk assessments.

We use a variety of inputs in such assessments, including information supplied by the third parties and regular monitoring.

Equinix conducts regular employee training on how to spot suspicious activity, educates employees on potential security risks, and periodically runs simulations of cyber incidents for employees across various functions to assess and refine response capabilities.

Equinix also offers a role-based security certification for its software engineering employees.

Equinix’s cybersecurity risk management processes are carried out in the context of broader business objectives and are integrated into Equinix’s broader risk management processes as described above in “Equinix Risk Management and Strategy”.

Equinix relies on its internal InfoSec team, and does not generally engage any consultants, auditors, or other third parties in connection with processes for assessing, identifying and managing risks from cybersecurity threats.

However, Equinix does regularly engage with law enforcement communities with the intent to continuously improve and enhance its cybersecurity program.

Board of Directors’ Oversight of Risks from Cybersecurity Threats

The Nominating and Governance Committee oversees our GRC Program per its charter, reviewing and considering developments related to the GRC Program and reporting on the GRC Program’s activities and recommendations to the full Board.

Information security risks have been deemed by our Board to be of critical importance to Equinix, and thus the Nominating and Governance Committee receives quarterly updates on cybersecurity and the full Board receives a briefing on cybersecurity at least annually.

These briefings are conducted by our CISO and members of the InfoSec leadership team, and cover topics such as key risk indicators, the status of strategic programs, operational updates and key initiatives, past and future action plans, and InfoSec functional updates.

In the event of a material cybersecurity incident, the full Board would be convened on a frequent basis to receive updates and provide oversight.

Management’s Role in Assessing and Managing Material Risks from Cybersecurity Threats

The Information Security Steering Committee (“ISSC”) is a key element of our cybersecurity strategy.

The ISSC is chaired by the CISO and comprises of a cross-functional group from various functions in the company.

The ISSC aims to align our security and compliance programs with business objectives.

Specifically, the ISSC (i) facilitates identification of risk-based priorities and trade offs; (ii) aims to ensure economies of scale and consistency of information security and compliance across IT assets at the company.; (iii) reviews and approves information security policies; (iv) reviews requests for policy and risk exceptions to provide a “Risk Acceptance Authorization”; and (v) serves as a communications channel and steward to cultivate a culture of trust across the enterprise.

The ISSC currently meets quarterly.

In addition, various subcommittees meet on an as-needed basis to address business needs.

At the ISSC, topics such as changes to the InfoSec risk register, notable issues, and information security projects are discussed.

Our CISO has extensive experience leading global security and IT organizations.

He also serves on a public company board as an independent director providing cybersecurity expertise.

Team members supporting our program have relevant education and information security experience.

Our executive offices are located in Redwood City, California, with sales offices in several cities throughout the U.S. Our [removed: Asia-Pacific] [added: EMEA] headquarters office is located in [removed: Hong Kong] [added: Amsterdam, the Netherlands] and we also have sales offices in several cities throughout [removed: Asia-Pacific.][added: EMEA.]

Our [removed: EMEA] [added: Asia-Pacific] headquarters office is located in [removed: Amsterdam, the Netherlands] [added: Hong Kong] and we also have sales offices in several cities throughout [removed: EMEA.][added: Asia-Pacific.]

The following tables present the locations of our leased and owned IBX data centers and xScaleTM data centers investments as of December 31, [removed: 2022.][added: 2023, as well as five data centers opened in January 2024.]

| [removed: ] [added: ] | | | | | | Boston | | | | | | | | | | | | ● | | |

| | | | Montreal | | | | | | [removed: ●] | | | | | | [added: ●] | | | | | |

| [removed: ] [added: ] | | | | | | Barcelona | | | | | | ● | | | | | | | | |

| | | | Dubai | | | | | | ● | | | | | | [added: ●] | | | | | |

| | | | Geneva | | | | | | ● | | | | | | [added: ●] | | | | | |

| | | | Madrid | | | | | | ● | | | | | | [added: ●] | | | | | |

| [removed: ] [added: ] | | | | | | | | | | | | | | | | | |

| Seoul | | | | | | ● | | | | | | [added: ●] | | | | | |

The following table presents an overview of our portfolio of IBX data centers as of December 31, [removed: 2022:][added: 2023:]

| | | | # of IBXs (1) | | | | | | Total Cabinet Capacity (1)(2) | | | | | | [removed: Cabinets Billed(1)] [added: Cabinets Billed (1)] | | | | | | Cabinet Utilization % (1)(3) | | | | | | MRR per Cabinet (1)(4) | | |

(1)Excludes [removed: twelve] [added: 18] unconsolidated [removed: entities (eleven] [added: data centers (17] xScale data centers and the MC1 IBX data [removed: center).][added: center) and includes the KL1 and SL4 data centers opened in January 2024.]

Americas MRR per cabinet excludes Infomart non-IBX tenant [removed: income.][added: income and EMEA MRR per cabinet excludes MainOne revenue.]

The following table presents a summary of our significant IBX data center [removed: expansion] projects under construction as of December 31, [removed: 2022:][added: 2023:]

| MX2 phase III | | | | | | Mexico City | | | | | | Q2 2024 | | | | | | 1,200 | | | | | | [removed: 56] [added: $] | [added: 56] | |

| BX1 [removed: phases II, III,] [added: phase II] & [added: III &] IV | | | | | | Bordeaux | | | | | | [removed: Q4 2023] [added: Q3 2024] | | | | | | 800 | | | | | | 64 | | |

| [removed: Lagos2] [added: LG2] phase II | | | | | | Lagos | | | | | | [removed: Q4 2023] [added: Q1 2024] | | | | | | 150 | | | | | | 9 | | |

| BA2 phase I | | | | | | Barcelona | | | | | | [removed: Q1] [added: Q2] 2024 | | | | | | 650 | | | | | | 56 | | |

| JN1 phase I | | | | | | Johannesburg | | | | | | [removed: Q2] [added: Q3] 2024 | | | | | | 700 | | | | | | 21 | | |

| JH1 phase I | | | | | | Johor | | | | | | [removed: Q1] [added: Q2] 2024 | | | | | | 500 | | | | | | [removed: 39] [added: 38] | | |

| SL4 phase I | | | | | | Seoul | | | | | | [removed: Q2] [added: Q1] 2024 | | | | | | 475 | | | | | | 6 | | |

| CN1 phase I | | | | | | Chennai | | | | | | [removed: Q2] [added: Q3] 2024 | | | | | | 850 | | | | | | 65 | | |

| Kuala Lumpur | | | | | | ● | | | | | | | | | | | |

| Americas | | | 108 | | | | | | 145,400 | | | | | | 112,900 | | | | | | 78 | | % | | | | $ | 2,527 | |

| EMEA | | | 84 | | | | | | 136,200 | | | | | | 109,100 | | | | | | 80 | | % | | | | 1,991 | | |

| Asia-Pacific | | | 50 | | | | | | 80,900 | | | | | | 65,300 | | | | | | 81 | | % | | | | 2,104 | | |

| Total | | | 242 | | | | | | 362,500 | | | | | | 287,300 | | | | | | | | | | | | | | |

The AB1, AC1, LG1, LG2, KL1 and SL4 data centers are included in the # of IBXs only.

| MI1 phase III | | | | | | Miami | | | | | | Q1 2025 | | | | | | 1,050 | | | | | | 86 | | |

| SP4 phase IV | | | | | | São Paulo | | | | | | Q1 2025 | | | | | | 750 | | | | | | 22 | | |

| MO2 phase I | | | | | | Monterrey | | | | | | Q1 2025 | | | | | | 725 | | | | | | 79 | | |

| ST2 phase II | | | | | | Santiago | | | | | | Q1 2025 | | | | | | 425 | | | | | | 46 | | |

| RJ3 phase I | | | | | | Rio de Janeiro | | | | | | Q1 2025 | | | | | | 550 | | | | | | 94 | | |

| TR6 phase II | | | | | | Toronto | | | | | | Q2 2025 | | | | | | 900 | | | | | | 123 | | |

| DA11 phase III | | | | | | Dallas | | | | | | Q2 2025 | | | | | | 2,000 | | | | | | 186 | | |

| DC22 phase I | | | | | | Washington, D.C. | | | | | | Q4 2025 | | | | | | 2,125 | | | | | | 260 | | |

| DC2 phase II | | | | | | Washington, D.C. | | | | | | Q4 2025 | | | | | | 425 | | | | | | 36 | | |

| SP6 phase I | | | | | | São Paulo | | | | | | Q1 2026 | | | | | | 1,125 | | | | | | 110 | | |

| | | | | | | | | | | | | | | | | | | 13,025 | | | | | | 1,435 | | |

| HH1 phase II | | | | | | Hamburg | | | | | | Q2 2024 | | | | | | 325 | | | | | | 9 | | |

| MA5 phase II | | | | | | Manchester | | | | | | Q4 2024 | | | | | | 775 | | | | | | 39 | | |

| SN1 phase I | | | | | | Salalah | | | | | | Q4 2024 | | | | | | 125 | | | | | | 14 | | |

| LG2 phase III | | | | | | Lagos | | | | | | Q1 2025 | | | | | | 275 | | | | | | 29 | | |

| LS2 phase I | | | | | | Lisbon | | | | | | Q1 2025 | | | | | | 625 | | | | | | 53 | | |

| LG3 phase I | | | | | | Lagos | | | | | | Q1 2025 | | | | | | 225 | | | | | | 22 | | |

| LD10 phase IV | | | | | | London | | | | | | Q3 2025 | | | | | | 850 | | | | | | 63 | | |

| MD5 phase I | | | | | | Madrid | | | | | | Q3 2025 | | | | | | 1,700 | | | | | | 115 | | |

| FR8 phase II | | | | | | Frankfurt | | | | | | Q1 2026 | | | | | | 1,400 | | | | | | 193 | | |

| | | | | | | | | | | | | | | | | | | 11,175 | | | | | | 805 | | |

| KL1 phase I | | | | | | Kuala Lumpur | | | | | | Q1 2024 | | | | | | 450 | | | | | | 16 | | |

| MB4 phase I | | | | | | Mumbai | | | | | | Q1 2024 | | | | | | 350 | | | | | | 3 | | |

| ME2 phase III | | | | | | Melbourne | | | | | | Q3 2024 | | | | | | 1,500 | | | | | | 39 | | |

| | | | | | | | | | | | | | | | | | | 10,550 | | | | | | 541 | | |

| Total | | | | | | | | | | | | | | | | | | 34,750 | | | | | | $ | 2,781 | |

| | | | Seville | | | | | | ● | | | | | | | | | | | |

| | | | | | | | | | | | | | | | | | |

| Americas | | | 106 | | | | | | 134,900 | | | | | | 108,200 | | | | | | 80 | | % | | | | $ | 2,419 | |

| EMEA | | | 82 | | | | | | 132,000 | | | | | | 110,000 | | | | | | 83 | | % | | | | 1,654 | | |

| Asia-Pacific | | | 48 | | | | | | 77,600 | | | | | | 64,100 | | | | | | 83 | | % | | | | 1,925 | | |

| Total | | | 236 | | | | | | 344,500 | | | | | | 282,300 | | | | | | | | | | | | | | |

| CL3 phase II | | | | | | Calgary | | | | | | Q1 2023 | | | | | | 550 | | | | | | $ | 38 | |

| KA1 phase II | | | | | | Kamloops | | | | | | Q1 2023 | | | | | | 250 | | | | | | 22 | | |

| AT1 phases VI & VII | | | | | | Atlanta | | | | | | Q2 2023 | | | | | | 575 | | | | | | 43 | | |

| BG2 phase I | | | | | | Bogota | | | | | | Q2 2023 | | | | | | 550 | | | | | | 45 | | |

| DA11 phase II | | | | | | Dallas | | | | | | Q3 2023 | | | | | | 1,975 | | | | | | 64 | | |

| DC16 phase I | | | | | | Washington D.C. | | | | | | Q3 2023 | | | | | | 3,200 | | | | | | 198 | | |

| MT2 phase I | | | | | | Montreal | | | | | | Q3 2023 | | | | | | 500 | | | | | | 28 | | |

| SV11 phase II | | | | | | Silicon Valley | | | | | | Q3 2023 | | | | | | 1,450 | | | | | | 60 | | |

| DC21 phase III | | | | | | Washington D.C. | | | | | | Q4 2023 | | | | | | 1,325 | | | | | | 31 | | |

| SE4 phase III | | | | | | Seattle | | | | | | Q4 2023 | | | | | | 375 | | | | | | 30 | | |

| MT2 phase II | | | | | | Montreal | | | | | | Q4 2023 | | | | | | 500 | | | | | | 22 | | |

| | | | | | | | | | | | | | | | | | | 14,200 | | | | | | 974 | | |

| FR5 phase V | | | | | | Frankfurt | | | | | | Q1 2023 | | | | | | 650 | | | | | | 43 | | |

| LD8 phase IV | | | | | | London | | | | | | Q1 2023 | | | | | | 550 | | | | | | 36 | | |

| MD6 phase I | | | | | | Madrid | | | | | | Q1 2023 | | | | | | 600 | | | | | | 5 | | |

| PA6 phase II | | | | | | Paris | | | | | | Q1 2023 | | | | | | 275 | | | | | | 16 | | |

| DX3 phase I | | | | | | Dubai | | | | | | Q2 2023 | | | | | | 900 | | | | | | 61 | | |

| ML5 phase III | | | | | | Milan | | | | | | Q2 2023 | | | | | | 500 | | | | | | 12 | | |

| SO2 phase II | | | | | | Sofia | | | | | | Q2 2023 | | | | | | 350 | | | | | | 12 | | |

| FR13 phase I | | | | | | Frankfurt | | | | | | Q4 2023 | | | | | | 1,125 | | | | | | 104 | | |

| | | | | | | | | | | | | | | | | | | 9,825 | | | | | | 557 | | |

| SY6 phase II | | | | | | Sydney | | | | | | Q1 2023 | | | | | | 500 | | | | | | 43 | | |

| SG5 phases V & VI | | | | | | Singapore | | | | | | Q2 2023 | | | | | | 1,500 | | | | | | 61 | | |

| TY11 phase IV | | | | | | Tokyo | | | | | | Q4 2023 | | | | | | 675 | | | | | | 55 | | |

| | | | | | | | | | | | | | | | | | | 10,925 | | | | | | 643 | | |

| Total | | | | | | | | | | | | | | | | | | 34,950 | | | | | | $ | 2,174 | |

As of January 31, [removed: 2022,] [added: 2024,] we had [removed: 92,666,516] [added: 94,522,562] shares of our common stock outstanding held by approximately [removed: 349] [added: 239] registered holders.

During the years ended December 31, [removed: 2022] [added: 2023] and [removed: 2021,] [added: 2022,] we did not issue or sell any securities on an unregistered basis.

The graph set forth below compares the cumulative total stockholder return on Equinix's common stock between December 31, [removed: 2017] [added: 2018] and December 31, [removed: 2022] [added: 2023] with the cumulative total return of:

The graph assumes the investment of $100.00 on December 31, [removed: 2017] [added: 2018] in Equinix's common stock and in each index, and assumes the reinvestment of dividends, if any.

*$100 invested on [removed: 12/31/17] [added: 12/31/18] in stock or index, including reinvestment of dividends.


Based on this evaluation, our Chief Executive Officer and our Chief Financial Officer concluded that our disclosure controls and procedures were effective at the reasonable assurance level as of December 31, [removed: 2022.][added: 2023.]

Based on our evaluation under the framework in *Internal Control – Integrated Framework* (2013), our management concluded that our internal control over financial reporting was effective as of December 31, [removed: 2022.][added: 2023.]

The effectiveness of our internal control over financial reporting as of December 31, [removed: 2022] [added: 2023] has been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report which is included herein on page F-1 of this Annual Report on Form 10-K.

There [removed: have been] [added: were] no [removed: other] changes in our internal control over financial reporting identified in connection with the evaluation required by Rules 13a-15(d) and 15d-15(d) of the Exchange Act that occurred during the twelve months ended December 31, [removed: 2022] [added: 2023] that have materially affected, or are reasonably likely to materially affect, our internal control over financial [removed: reporting][added: reporting.]

In the third quarter of 2022, as part of our multi-year project to move the backbone of our finance systems to the cloud, we completed deployment of certain modules in our new cloud enterprise resource planning (“ERP”) system to support the financial close and our reporting requirements.

As a result of the ERP system implementation, certain internal controls over financial reporting have been automated, modified, or implemented to address the new control environment and processes associated with the ERP system.

Rule 10b5-1 and Non-Rule 10b5-1 Trading Arrangements

During the quarter ended December 31, 2023, none of our directors or officers adopted, modified or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement”, as such terms are defined in Item 408(a) of Regulation S-K.

There is no disclosure to report pursuant to Item 9B.

Not applicable.

There is no disclosure to report pursuant to Item 9C.

The information required by this Item is incorporated by reference to the definitive Proxy Statement for our [removed: 2023] [added: 2024] Annual Meeting of Stockholders, which will be filed with the SEC no later than 120 days after December 31, [removed: 2022] [added: 2023] pursuant to Regulation 14A.

This information is incorporated by reference to the Equinix Proxy Statement for the [removed: 2023] [added: 2024] Annual Meeting of Stockholders and is also available on our website, www.equinix.com.

The information required by this Item is incorporated by reference to the definitive Proxy Statement for our [removed: 2023] [added: 2024] Annual Meeting of Stockholders, which will be filed with the SEC no later than 120 days after December 31, [removed: 2022] [added: 2023] pursuant to Regulation 14A.

Information required by this item is incorporated by reference to the Equinix Proxy Statement for the [removed: 2023] [added: 2024] Annual Meeting of Stockholders, which will be filed with the SEC no later than 120 days after December 31, [removed: 2022] [added: 2023] pursuant to Regulation 14A.

The information required by this Item is incorporated by reference to the definitive Proxy Statement for our [removed: 2023] [added: 2024] Annual Meeting of Stockholders, which will be filed with the SEC no later than 120 days after December 31, [removed: 2022] [added: 2023] pursuant to Regulation 14A.

The information required by this Item is incorporated by reference to the definitive Proxy Statement for our [removed: 2023] [added: 2024] Annual Meeting of Stockholders, which will be filed with the SEC no later than 120 days after December 31, [removed: 2022] [added: 2023] pursuant to Regulation 14A.

| [Report of Independent Registered Public Accounting Firm (PCAOB [removed: ID](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_124) 238[)](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_124)] [added: ID](#i0573b9f0550b4a3a8a05ec0aa8d4a413_124) 238[)](#i0573b9f0550b4a3a8a05ec0aa8d4a413_124)] | | | [removed: F-[1](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_124)] [added: F-[1](#i0573b9f0550b4a3a8a05ec0aa8d4a413_124)] | | |

| [Consolidated Balance Sheets as of December 31, [removed: 202](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_127)[2](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_127) [and 202](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_127)1] [added: 2023 and 2022](#i0573b9f0550b4a3a8a05ec0aa8d4a413_127)] | | | [removed: F-[4](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_127)] [added: F-[4](#i0573b9f0550b4a3a8a05ec0aa8d4a413_127)] | | |

| [Consolidated Statements of Operations for the years ended December 31, [removed: 2022, 2021] [added: 2023, 2022] and [removed: 2020](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_130)] [added: 2021](#i0573b9f0550b4a3a8a05ec0aa8d4a413_130)] | | | [removed: F-[5](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_130)] [added: F-[5](#i0573b9f0550b4a3a8a05ec0aa8d4a413_130)] | | |

| [Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, [removed: 2022, 2021] [added: 2023, 2022] and [removed: 2020](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_133)] [added: 2021](#i0573b9f0550b4a3a8a05ec0aa8d4a413_133)] | | | [removed: F-[6](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_133)] [added: F-[6](#i0573b9f0550b4a3a8a05ec0aa8d4a413_133)] | | |

| [Consolidated Statements of Stockholders' Equity and Other Comprehensive Income (Loss) for the years ended December 31, [removed: 2022, 2021] [added: 2023, 2022] and [removed: 2020](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_136)] [added: 2021](#i0573b9f0550b4a3a8a05ec0aa8d4a413_136)] | | | [removed: F-[7](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_136)] [added: F-[7](#i0573b9f0550b4a3a8a05ec0aa8d4a413_136)] | | |

| [Consolidated Statements of Cash Flows for the years ended December 31, [removed: 2022, 2021] [added: 2023, 2022] and [removed: 2020](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_139)] [added: 2021](#i0573b9f0550b4a3a8a05ec0aa8d4a413_139)] | | | [removed: F-[9](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_139)] [added: F-[9](#i0573b9f0550b4a3a8a05ec0aa8d4a413_139)] | | |

| [Notes to Consolidated Financial [removed: Statements](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_142)] [added: Statements](#i0573b9f0550b4a3a8a05ec0aa8d4a413_142)] | | | [removed: F-[10](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_142)] [added: F-[10](#i0573b9f0550b4a3a8a05ec0aa8d4a413_142)] | | |

| [Schedule [removed: III-] [added: III -] Schedule of Real Estate and Accumulated [removed: Depreciation](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_208) [as of](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_208) [](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_208)[December] [added: Depreciation as of December] 31, [removed: 2022] [added: 2023] with reconciliations for the years ended December 31, [removed: 2022, 2021] [added: 2023, 2022] and [removed: 2020](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_208)] [added: 2021](#i0573b9f0550b4a3a8a05ec0aa8d4a413_205)] | | | [removed: F-[62](#i0928b7fbb6b64a6ebfe95ecf8c4b257d_208)] [added: F-[61](#i0573b9f0550b4a3a8a05ec0aa8d4a413_205)] | | |

| [removed: [4.38](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit438.htm)] [added: [4.38](https://www.sec.gov/Archives/edgar/data/1101239/000162828024005350/eqix-123123xexhibit438.htm)] | | | | | | [Description of [removed: Securities](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit438.htm)] [added: Securities](https://www.sec.gov/Archives/edgar/data/1101239/000162828024005350/eqix-123123xexhibit438.htm)] | | | | | | | | | | | | | | | | | | | | | | | | X | | |

| [removed: [10.4](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit104.htm)] [added: [10.4](http://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit104.htm)] | | | | | | [Equinix, Inc. 2004 Employee Stock Purchase Plan, as [removed: amended.](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit104.htm)] [added: amended.](http://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit104.htm)] | | | | | | [added: 10-K] | | | | | | [added: 12/31/2022] | | | | | | [added: 10.4] | | | | | | [removed: X] | | |

| [removed: [10.5](http://www.sec.gov/Archives/edgar/data/1101239/000162828020006896/eqix-33120xexhibit1019.htm)] [added: [10.5](http://www.sec.gov/Archives/edgar/data/1101239/000162828021008434/eqix-33121xexhibit1011.htm)] | | | | | | [removed: [2020] [added: [2021] Form of Revenue/AFFO per Share Restricted Stock Unit Agreement for [removed: Executives.](http://www.sec.gov/Archives/edgar/data/1101239/000162828020006896/eqix-33120xexhibit1019.htm)] [added: Executives.](http://www.sec.gov/Archives/edgar/data/1101239/000162828021008434/eqix-33121xexhibit1011.htm)] | | | | | | 10-Q | | | | | | [removed: 3/31/2020] [added: 3/31/2021] | | | | | | [removed: 10.19] [added: 10.11] | | | | | | | | |

| [removed: [10.6](http://www.sec.gov/Archives/edgar/data/1101239/000162828020006896/eqix-33120xexhibit1020.htm)] [added: [10.6](http://www.sec.gov/Archives/edgar/data/1101239/000162828021008434/eqix-33121xexhibit1012.htm)] | | | | | | [removed: [2020] [added: [2021] Form of TSR Restricted Stock Unit Agreement for [removed: Executives.](http://www.sec.gov/Archives/edgar/data/1101239/000162828020006896/eqix-33120xexhibit1020.htm)] [added: Executives.](http://www.sec.gov/Archives/edgar/data/1101239/000162828021008434/eqix-33121xexhibit1012.htm)] | | | | | | 10-Q | | | | | | [removed: 3/31/2020] [added: 3/31/2021] | | | | | | [removed: 10.20] [added: 10.12] | | | | | | | | |

| [removed: [10.7](http://www.sec.gov/Archives/edgar/data/1101239/000162828020006896/eqix-33120xexhibit1021.htm)] [added: [10.7](http://www.sec.gov/Archives/edgar/data/1101239/000162828021008434/eqix-33121xexhibit1013.htm)] | | | | | | [removed: [2020] [added: [2021] Form of Time-Based Restricted Stock [added: Unit] Agreement for [removed: Executives.](http://www.sec.gov/Archives/edgar/data/1101239/000162828020006896/eqix-33120xexhibit1021.htm)] [added: Executives.](http://www.sec.gov/Archives/edgar/data/1101239/000162828021008434/eqix-33121xexhibit1013.htm)] | | | | | | 10-Q | | | | | | [removed: 3/31/2020] [added: 3/31/2021] | | | | | | [removed: 10.21] [added: 10.13] | | | | | | | | |

| [removed: [10.8](http://www.sec.gov/Archives/edgar/data/1101239/000162828021008434/eqix-33121xexhibit1011.htm)] [added: [10.8](http://www.sec.gov/Archives/edgar/data/0001101239/000162828022011503/eqix-33122xexhibit1011.htm)] | | | | | | [removed: [2021] [added: [2022] Form of Revenue/AFFO per [removed: Share] [added: Share/Digital Services Performance] Restricted Stock Unit Agreement for [removed: Executives.](http://www.sec.gov/Archives/edgar/data/1101239/000162828021008434/eqix-33121xexhibit1011.htm)] [added: Executives.](http://www.sec.gov/Archives/edgar/data/0001101239/000162828022011503/eqix-33122xexhibit1011.htm)] | | | | | | 10-Q | | | | | | [removed: 3/31/2021] [added: 3/31/2022] | | | | | | 10.11 | | | | | | | | |

| [removed: [10.9](http://www.sec.gov/Archives/edgar/data/1101239/000162828021008434/eqix-33121xexhibit1012.htm)] [added: [10.9](http://www.sec.gov/Archives/edgar/data/0001101239/000162828022011503/eqix-33122xexhibit1012.htm)] | | | | | | [removed: [2021] [added: [2022] Form of TSR Restricted Stock Unit Agreement for [removed: Executives.](http://www.sec.gov/Archives/edgar/data/1101239/000162828021008434/eqix-33121xexhibit1012.htm)] [added: Executives.](http://www.sec.gov/Archives/edgar/data/0001101239/000162828022011503/eqix-33122xexhibit1012.htm)] | | | | | | 10-Q | | | | | | [removed: 3/31/2021] [added: 3/31/2022] | | | | | | 10.12 | | | | | | | | |

| [removed: [10.10](http://www.sec.gov/Archives/edgar/data/1101239/000162828021008434/eqix-33121xexhibit1013.htm)] [added: [10.10](http://www.sec.gov/Archives/edgar/data/0001101239/000162828022011503/eqix-33122xexhibit1013.htm)] | | | | | | [removed: [2021] [added: [2022] Form of Time-Based Restricted Stock Unit Agreement for [removed: Executives.](http://www.sec.gov/Archives/edgar/data/1101239/000162828021008434/eqix-33121xexhibit1013.htm)] [added: Executives.](http://www.sec.gov/Archives/edgar/data/0001101239/000162828022011503/eqix-33122xexhibit1013.htm)] | | | | | | 10-Q | | | | | | [removed: 3/31/2021] [added: 3/31/2022] | | | | | | 10.13 | | | | | | | | |

| [removed: [10.11](http://www.sec.gov/Archives/edgar/data/0001101239/000162828022011503/eqix-33122xexhibit1011.htm)] [added: [10.11](http://www.sec.gov/Archives/edgar/data/1101239/000162828023016073/eqix-33123xexhibit1015.htm)] | | | | | | [removed: [2022] [added: [2023] Form of Revenue/AFFO per Share/Digital Services Performance Restricted Stock Unit Agreement for [removed: Executives.](http://www.sec.gov/Archives/edgar/data/0001101239/000162828022011503/eqix-33122xexhibit1011.htm)] [added: Executives.](http://www.sec.gov/Archives/edgar/data/1101239/000162828023016073/eqix-33123xexhibit1015.htm)] | | | | | | 10-Q | | | | | | [removed: 3/31/2022] [added: 3/31/2023] | | | | | | [removed: 10.11] [added: 10.15] | | | | | | | | |

| [removed: [10.12](http://www.sec.gov/Archives/edgar/data/0001101239/000162828022011503/eqix-33122xexhibit1012.htm)] [added: [10.12](http://www.sec.gov/Archives/edgar/data/1101239/000162828023016073/eqix-33123xexhibit1016.htm)] | | | | | | [removed: [2022] [added: [2023] Form of TSR Restricted Stock Unit Agreement for [removed: Executives.](http://www.sec.gov/Archives/edgar/data/0001101239/000162828022011503/eqix-33122xexhibit1012.htm)] [added: Executives.](http://www.sec.gov/Archives/edgar/data/1101239/000162828023016073/eqix-33123xexhibit1016.htm)] | | | | | | 10-Q | | | | | | [removed: 3/31/2022] [added: 3/31/2023] | | | | | | [removed: 10.12] [added: 10.16] | | | | | | | | |

| [removed: [10.13](http://www.sec.gov/Archives/edgar/data/0001101239/000162828022011503/eqix-33122xexhibit1013.htm)] [added: [10.13](http://www.sec.gov/Archives/edgar/data/1101239/000162828023016073/eqix-33123xexhibit1017.htm)] | | | | | | [removed: [2022] [added: [2023] Form of Time-Based Restricted Stock Unit Agreement for [removed: Executives.](http://www.sec.gov/Archives/edgar/data/0001101239/000162828022011503/eqix-33122xexhibit1013.htm)] [added: Executives.](http://www.sec.gov/Archives/edgar/data/1101239/000162828023016073/eqix-33123xexhibit1017.htm)] | | | | | | 10-Q | | | | | | [removed: 3/31/2022] [added: 3/31/2023] | | | | | | [removed: 10.13] [added: 10.17] | | | | | | | | |

| [removed: [10.14](http://www.sec.gov/Archives/edgar/data/0001101239/000162828022011503/eqix-33122xexhibit1014.htm)] [added: [10.14](http://www.sec.gov/Archives/edgar/data/1101239/000162828023016073/eqix-33123xexhibit1018.htm)] | | | | | | [removed: [2022] [added: [2023] Equinix, Inc. Annual Incentive [removed: Plan.](http://www.sec.gov/Archives/edgar/data/0001101239/000162828022011503/eqix-33122xexhibit1014.htm)] [added: Plan.](http://www.sec.gov/Archives/edgar/data/1101239/000162828023016073/eqix-33123xexhibit1018.htm)] | | | | | | 10-Q | | | | | | [removed: 3/31/2022] [added: 3/31/2023] | | | | | | [removed: 10.14] [added: 10.18] | | | | | | | | |

| [removed: [10.20](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1027.htm)] [added: [10.20](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1028.htm)] | | | | | | [Change in Control Severance Agreement between Equinix, Inc and [removed: Karl Strohmeyer] [added: Peter Van Camp] dated October 3, [removed: 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1027.htm)] [added: 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1028.htm)] | | | | | | 10-Q | | | | | | 9/30/2019 | | | | | | [removed: 10.27] [added: 10.28] | | | | | | | | |

| [removed: [10.21](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1028.htm)] [added: [10.21](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1029.htm)] | | | | | | [Change in Control Severance Agreement between Equinix, Inc and [removed: Peter Van Camp] [added: Charles Meyers] dated October [removed: 3, 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1028.htm)] [added: 4, 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1029.htm)] | | | | | | 10-Q | | | | | | 9/30/2019 | | | | | | [removed: 10.28] [added: 10.29] | | | | | | | | |

| [removed: [10.22](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1029.htm)] [added: [10.22](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1031.htm)] | | | | | | [Change in Control Severance Agreement between Equinix, Inc and [removed: Charles Meyers] [added: Keith Taylor] dated October [removed: 4, 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1029.htm)] [added: 3, 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1031.htm)] | | | | | | 10-Q | | | | | | 9/30/2019 | | | | | | [removed: 10.29] [added: 10.31] | | | | | | | | |

| [removed: [10.23](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1031.htm)] [added: [10.26](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1036.htm)] | | | | | | [removed: [Change in Control Severance] [added: [Side Letter] Agreement [added: Regarding RSUs] between Equinix, [removed: Inc] [added: Inc.] and Keith Taylor dated October 3, [removed: 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1031.htm)] [added: 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1036.htm)] | | | | | | 10-Q | | | | | | 9/30/2019 | | | | | | [removed: 10.31] [added: 10.36] | | | | | | | | |

| [removed: [10.24](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1024.htm)] [added: [10.23](http://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1024.htm)] | | | | | | [Change in Control Severance [removed: Agreement](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1024.htm) [between] [added: Agreement between] Equinix, Inc [removed: and](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1024.htm) [Jon Lin](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1024.htm) [dated](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1024.htm) [January](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1024.htm) [](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1024.htm)[2](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1024.htm)[, 20](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1024.htm)[22](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1024.htm)[.](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1024.htm)] [added: and Jon Lin dated January 2, 2022.](http://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1024.htm)] | | | | | | [added: 10-K] | | | | | | [added: 12/31/2022] | | | | | | [added: 10.24] | | | | | | [removed: X] | | |

| [removed: [10.25](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1025.htm)] [added: [10.24](http://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1025.htm)] | | | | | | [Change in Control Severance [removed: Agreement](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1025.htm) [between] [added: Agreement between] Equinix, Inc. and Scott Crenshaw dated August 1, [removed: 2022.](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1025.htm)] [added: 2022.](http://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit1025.htm)] | | | | | | [added: 10-K] | | | | | | [added: 12/31/2022] | | | | | | [added: 10.25] | | | | | | [removed: X] | | |

| [removed: [10.26](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1034.htm)] [added: [10.25](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1034.htm)] | | | | | | [Side Letter Agreement Regarding RSUs between Equinix, Inc. and Charles Meyers dated October 4, 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1034.htm) | | | | | | 10-Q | | | | | | 9/30/2019 | | | | | | 10.34 | | | | | | | | |

| [removed: [10.27](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1036.htm)] [added: [10.27](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1037.htm)] | | | | | | [Side Letter Agreement Regarding RSUs between Equinix, Inc. and [removed: Keith Taylor] [added: Mike Campbell] dated October 3, [removed: 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1036.htm)] [added: 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1037.htm)] | | | | | | 10-Q | | | | | | 9/30/2019 | | | | | | [removed: 10.36] [added: 10.37] | | | | | | | | |

| [removed: [10.28](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1037.htm)] [added: [10.28](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1038.htm)] | | | | | | [Side Letter Agreement Regarding RSUs between Equinix, Inc. and [removed: Mike Campbell] [added: Brandi Galvin Morandi] dated October 3, [removed: 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1037.htm)] [added: 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1038.htm)] | | | | | | 10-Q | | | | | | 9/30/2019 | | | | | | [removed: 10.37] [added: 10.38] | | | | | | | | |

| [removed: [10.29](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1038.htm)] [added: [10.29](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1040.htm)] | | | | | | [Side Letter Agreement Regarding RSUs between Equinix, Inc. and [removed: Brandi Galvin Morandi] [added: Peter Van Camp] dated October 3, [removed: 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1038.htm)] [added: 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1040.htm)] | | | | | | 10-Q | | | | | | 9/30/2019 | | | | | | [removed: 10.38] [added: 10.40] | | | | | | | | |

| [removed: [10.30](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1039.htm)] [added: [10.30](http://www.sec.gov/Archives/edgar/data/1101239/000162828022028466/eqix-93022xexhibit1039.htm)] | | | | | | [removed: [Side] [added: [Amendment to Relocation] Letter Agreement [removed: Regarding RSUs] [added: by and] between Equinix, Inc. and [removed: Karl Strohmeyer] [added: Charles Meyers] dated [removed: October 3, 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1039.htm)] [added: September 21, 2022.](http://www.sec.gov/Archives/edgar/data/1101239/000162828022028466/eqix-93022xexhibit1039.htm)] | | | | | | 10-Q | | | | | | [removed: 9/30/2019] [added: 9/30/2022] | | | | | | 10.39 | | | | | | | | |

| [removed: [21.1](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit211.htm)] [added: [21.1](https://www.sec.gov/Archives/edgar/data/1101239/000162828024005350/eqix-123123xexhibit211.htm)] | | | | | | [Subsidiaries of Equinix, [removed: Inc.](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit211.htm)] [added: Inc.](https://www.sec.gov/Archives/edgar/data/1101239/000162828024005350/eqix-123123xexhibit211.htm)] | | | | | | | | | | | | | | | | | | | | | | | | X | | |

| [removed: [23.1](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit231.htm)] [added: [23.1](https://www.sec.gov/Archives/edgar/data/1101239/000162828024005350/eqix-123123xexhibit231.htm)] | | | | | | [Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting [removed: Firm.](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit231.htm)] [added: Firm.](https://www.sec.gov/Archives/edgar/data/1101239/000162828024005350/eqix-123123xexhibit231.htm)] | | | | | | | | | | | | | | | | | | | | | | | | X | | |

| [removed: [31.1](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit311.htm)] [added: [31.1](https://www.sec.gov/Archives/edgar/data/1101239/000162828024005350/eqix-123123xexhibit311.htm)] | | | | | | [Chief Executive Officer Certification pursuant to Section 302 of the Sarbanes-Oxley Act of [removed: 2002.](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit311.htm)] [added: 2002.](https://www.sec.gov/Archives/edgar/data/1101239/000162828024005350/eqix-123123xexhibit311.htm)] | | | | | | | | | | | | | | | | | | | | | | | | X | | |

| [removed: [31.2](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit312.htm)] [added: [31.2](https://www.sec.gov/Archives/edgar/data/1101239/000162828024005350/eqix-123123xexhibit312.htm)] | | | | | | [Chief Financial Officer Certification pursuant to Section 302 of the Sarbanes-Oxley Act of [removed: 2002.](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit312.htm)] [added: 2002.](https://www.sec.gov/Archives/edgar/data/1101239/000162828024005350/eqix-123123xexhibit312.htm)] | | | | | | | | | | | | | | | | | | | | | | | | X | | |

| [removed: [32.1](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit321.htm)] [added: [32.1](https://www.sec.gov/Archives/edgar/data/1101239/000162828024005350/eqix-123123xexhibit321.htm)] | | | | | | [Chief Executive Officer Certification pursuant to Section 906 of the Sarbanes-Oxley Act of [removed: 2002.](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit321.htm)] [added: 2002.](https://www.sec.gov/Archives/edgar/data/1101239/000162828024005350/eqix-123123xexhibit321.htm)] | | | | | | | | | | | | | | | | | | | | | | | | X | | |

| [removed: [32.2](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit322.htm)] [added: [32.2](https://www.sec.gov/Archives/edgar/data/1101239/000162828024005350/eqix-123123xexhibit322.htm)] | | | | | | [Chief Financial Officer Certification pursuant to Section 906 of the Sarbanes-Oxley Act of [removed: 2002.](https://www.sec.gov/Archives/edgar/data/1101239/000162828023004039/eqix-123122xexhibit322.htm)] [added: 2002.](https://www.sec.gov/Archives/edgar/data/1101239/000162828024005350/eqix-123123xexhibit322.htm)] | | | | | | | | | | | | | | | | | | | | | | | | X | | |

| [4.39](http://www.sec.gov/Archives/edgar/data/1101239/000162828023016073/eqix-33123xexhibit439.htm) | | | | | | [Notes Purchase Agreement, dated February 7, 2023, and issued by Equinix Japan K.K. and Equinix, Inc. as Parent Guarantor.](http://www.sec.gov/Archives/edgar/data/1101239/000162828023016073/eqix-33123xexhibit439.htm) | | | | | | 10-Q | | | | | | 3/31/2023 | | | | | | 4.39 | | | | | | | | |

| [4.40](http://www.sec.gov/Archives/edgar/data/1101239/000162828023035406/eqix-93023xexhibit440.htm) | | | | | | [Terms and Conditions of the Swiss Francs bonds due September 12, 2028, issued by Equinix Europe 1 Financing Corporation LLC and guaranteed by Equinix, Inc. as Guarantor.](http://www.sec.gov/Archives/edgar/data/1101239/000162828023035406/eqix-93023xexhibit440.htm) | | | | | | 10-Q | | | | | | 9/30/2023 | | | | | | 4.40 | | | | | | | | |

| [97.1](https://www.sec.gov/Archives/edgar/data/1101239/000162828024005350/eqix-123123xexhibit971.htm) | | | | | | [Equinix, Inc. Compensation Recoupment Policy.](https://www.sec.gov/Archives/edgar/data/1101239/000162828024005350/eqix-123123xexhibit971.htm) | | | | | | | | | | | | | | | | | | | | | | | | X | | |

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| [10.31](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1040.htm) | | | | | | [Side Letter Agreement Regarding RSUs between Equinix, Inc. and Peter Van Camp dated October 3, 2019.](http://www.sec.gov/Archives/edgar/data/1101239/000162828019013074/eqix-93019xexhibit1040.htm) | | | | | | 10-Q | | | | | | 9/30/2019 | | | | | | 10.40 | | | | | | | | |

| [10.32](http://www.sec.gov/Archives/edgar/data/1101239/000162828022028466/eqix-93022xexhibit1039.htm) | | | | | | [Amendment to Relocation Letter Agreement by and between Equinix, Inc. and Charles Meyers dated September 21, 2022.](http://www.sec.gov/Archives/edgar/data/1101239/000162828022028466/eqix-93022xexhibit1039.htm) | | | | | | 10-Q | | | | | | 9/30/2022 | | | | | | 10.39 | | | | | | | | |

| February [removed: 17, 2023] [added: 16, 2024] | | | By | | | /s/ CHARLES MEYERS | | |

| /s/ CHARLES MEYERS | | | Chief Executive Officer and President (Principal Executive Officer) | | | February [removed: 17, 2023] [added: 16, 2024] | | |

| /s/ KEITH D. TAYLOR | | | Chief Financial Officer (Principal Financial Officer) | | | February [removed: 17, 2023] [added: 16, 2024] | | |

| /s/ SIMON MILLER | | | Chief Accounting Officer (Principal Accounting Officer) | | | February [removed: 17, 2023] [added: 16, 2024] | | |

| /s/ PETER F. VAN CAMP | | | Executive Chairman | | | February [removed: 17, 2023] [added: 16, 2024] | | |

| /s/ NANCI CALDWELL | | | Director | | | February [removed: 17, 2023] [added: 16, 2024] | | |

| /s/ ADAIRE FOX-MARTIN | | | Director | | | February [removed: 17, 2023] [added: 16, 2024] | | |

| /s/ GARY F. HROMADKO | | | Director | | | February [removed: 17, 2023] [added: 16, 2024] | | |

| /s/ CHRISTOPHER B. PAISLEY | | | Director | | | February [removed: 17, 2023] [added: 16, 2024] | | |

| /s/ SANDRA RIVERA | | | Director | | | February [removed: 17, 2023] [added: 16, 2024] | | |

| /s/ THOMAS OLINGER | | | Director | | | February [removed: 17, 2023] [added: 16, 2024] | | |

| /s/ JEETU PATEL | | | Director | | | February [removed: 17, 2023] [added: 16, 2024] | | |

| /s/ FIDELMA RUSSO | | | Director | | | February [removed: 17, 2023] [added: 16, 2024] | | |

We have audited the accompanying consolidated balance sheets of Equinix, Inc. and its subsidiaries (the “Company”) as of December 31, [removed: 2022] [added: 2023] and December 31, [removed: 2021,] [added: 2022,] and the related consolidated statements of operations, of comprehensive income (loss), of stockholders' equity and other comprehensive income (loss) and of cash flows for each of the three years in the period ended December 31, [removed: 2022,] [added: 2023,] including the related notes and financial statement schedule listed in the index appearing under Item 15(a)(2) (collectively referred to as the “consolidated financial statements”).

We also have audited the Company's internal control over financial reporting as of December 31, [removed: 2022,] [added: 2023,] based on criteria established in *Internal Control - Integrated Framework* (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, [removed: 2022] [added: 2023] and [removed: 2021,] [added: 2022,] and the results of its operations and its cash flows for each of the three years in the period ended December 31, [removed: 2022] [added: 2023] in conformity with accounting principles generally accepted in the United States of America.

Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, [removed: 2022,] [added: 2023,] based on criteria established in *Internal Control - Integrated Framework* (2013) issued by the COSO.

We conducted our audits in accordance with the [added: auditing] standards of the PCAOB.

As described in Notes 1 and 14 to the consolidated financial statements, the Company recorded income tax expense of [removed: $124.8] [added: $155.3] million for the year ended December 31, [removed: 2022.][added: 2023.]

| | | | [added: 2023 | | | | | |] 2022 | | | | | | 2021 | | |

| Cash and cash equivalents | | | $ | [added: 2,095,712 | | | | | $ |] 1,906,421 | | | | | $ | 1,536,358 | |

| Accounts receivable, net of allowance of [removed: $12,225] [added: $17,176] and [removed: $11,635] [added: $12,225] | | | [removed: 855,380] [added: 1,003,792] | | | | | | [removed: 681,809] [added: 855,380] | | |

| Other current assets | | | [removed: 459,138] [added: 468,193] | | | | | | [removed: 462,739] [added: 459,138] | | |

| Assets held for sale | | | [removed: 84,316] [added: —] | | | | | | [removed: 276,195] [added: 84,316] | | |

| Total current assets | | | [removed: 3,305,255] [added: 3,567,697] | | | | | | [removed: 2,957,101] [added: 3,305,255] | | |

| Property, plant and equipment, net | | | [removed: 16,649,534] [added: 18,600,833] | | | | | | [removed: 15,445,775] [added: 16,649,534] | | |

| Operating lease right-of-use assets | | | [removed: 1,427,950] [added: 1,448,890] | | | | | | [removed: 1,282,418] [added: 1,427,950] | | |

| Goodwill | | | [removed: 5,654,217] [added: 5,737,122] | | | | | | [removed: 5,372,071] [added: 5,654,217] | | |

| Intangible assets, net | | | [removed: 1,897,649] [added: 1,704,870] | | | | | | [removed: 1,935,267] [added: 1,897,649] | | |