Switch, inc. (SWCH)
Balance Sheet / Yearly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17May'17Dec'16
ASSETS
CURRENT ASSETS:
Cash and cash equivalents

64,711

24,721

52,478

60,169

86,958

81,560

104,511

184,004

238,561

264,666

-

-

22,713

Accounts receivable, net of allowance for credit losses of $384 and $309, respectively

15,371

23,365

18,741

14,259

9,994

17,654

14,196

10,670

18,511

16,386

-

-

9,131

Prepaid expenses

6,683

7,137

6,962

4,500

6,731

6,781

3,932

3,975

5,162

5,037

-

-

3,921

Other current assets, net of allowance for credit losses of $6 and $0, respectively

4,436

3,817

2,428

2,359

2,339

2,332

3,091

6,085

3,679

2,101

-

-

2,052

Total current assets

91,201

59,040

80,609

81,287

106,022

108,327

125,730

204,734

265,913

288,190

-

-

37,817

Property and equipment, net

1,583,491

1,551,117

1,444,993

1,346,348

1,309,514

1,302,770

1,281,057

1,248,939

1,183,165

1,133,572

-

-

874,259

Long-term deposit

3,163

3,429

5,047

4,085

3,333

3,333

4,288

4,712

4,197

3,842

-

-

4,440

Deferred income taxes

131,255

114,372

90,115

75,054

27,625

28,550

20,854

-

-

981

-

-

-

Investments

-

-

-

-

-

-

-

-

-

-

-

-

169

Other assets, net of allowance for credit losses of $73 and $0, respectively

45,429

45,785

18,349

18,103

17,363

17,050

14,871

28,867

9,194

8,174

-

-

4,330

TOTAL ASSETS

1,854,539

1,773,743

1,639,113

1,524,877

1,463,857

1,460,030

1,446,800

1,487,252

1,462,469

1,434,759

0

0

921,015

LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Long-term debt, current portion

6,000

6,000

6,000

6,000

6,000

6,000

5,194

5,194

5,194

6,000

-

-

14,330

Accounts payable

16,400

19,477

17,476

23,842

15,810

20,501

22,158

18,090

18,717

18,934

-

-

1,663

Accrued salaries and benefits

6,853

5,828

12,626

9,897

5,507

5,258

9,971

8,425

4,679

5,211

-

-

4,221

Accrued expenses

11,371

11,254

13,875

12,049

11,832

9,778

9,340

7,881

7,783

6,469

-

-

8,906

Accrued construction payables

28,476

37,269

30,981

11,620

4,658

12,729

17,060

12,180

19,656

7,052

-

-

47,528

Deferred revenue, current portion

15,826

14,991

-

-

-

12,322

-

-

-

-

-

-

-

Dividends and distributions payable

-

-

-

-

7,154

-

-

-

-

-

-

-

-

Accrued Michigan building and land purchase

-

-

-

-

-

-

-

-

-

-

-

-

23,916

Accrued impact fee expense

-

-

-

-

-

-

-

-

-

-

-

-

27,018

Deferred revenue, current portion

-

-

13,713

10,598

10,987

10,800

9,921

10,220

11,665

11,482

-

-

7,157

Customer deposits

11,128

10,830

10,442

10,062

10,191

9,962

9,704

9,396

9,004

8,634

-

-

6,939

Interest rate swap liability, current portion

8,297

3,464

-

-

-

-

-

-

-

-

-

-

-

Operating lease liability, current portion

4,549

4,805

-

-

-

-

-

-

-

-

-

-

-

Finance lease liability, current portion

12

12

-

-

-

-

-

-

-

-

-

-

-

Capital lease obligations, current portion

-

-

-

-

-

-

333

2,309

2,309

2,309

-

-

4,000

Total current liabilities

108,912

113,930

105,113

84,068

72,139

75,028

83,681

73,695

79,007

66,091

-

-

145,678

Long-term debt, net

814,074

745,372

646,671

577,969

579,268

580,566

582,671

583,969

585,268

585,760

-

-

457,737

Operating lease liability

25,117

26,142

-

-

-

-

-

-

-

-

-

-

-

Finance lease liability

57,588

57,614

19,466

19,466

19,466

19,466

19,466

19,466

19,466

19,466

-

-

19,466

Accrued interest, capital lease obligations

-

-

-

-

-

-

-

-

1,871

-

-

-

2,070

Deferred revenue

24,756

27,852

36,847

26,870

23,155

22,260

20,912

19,965

19,299

19,382

-

-

17,701

Liabilities under tax receivable agreement

181,300

162,100

132,500

112,011

52,535

52,500

45,400

39,500

-

0

-

-

-

Other long-term liabilities

24,981

13,112

17,519

14,578

6,898

1,823

1,852

1,877

-

1,927

-

-

-

TOTAL LIABILITIES

1,236,702

1,146,098

958,132

834,962

753,461

751,678

754,012

738,506

704,911

692,626

-

-

642,652

Commitments and contingencies (Note 4)

-

-

-

-

-

-

-

-

-

-

-

0

0

STOCKHOLDER’S EQUITY
Preferred stock

0

0

0

0

0

0

0

0

0

0

-

-

-

Additional paid in capital

217,124

204,711

210,349

198,231

141,607

140,191

128,468

131,845

111,073

107,008

-

-

-

(Accumulated deficit) retained earnings

-1,754

2,420

-51

454

1,665

2,693

981

1,774

2,273

1,602

-

-

0

Members' equity, 225,000,000 units authorized; 200,750,505 and 198,866,680 units issued and outstanding, respectively

-

-

-

-

-

-

-

-

-

-

-

-

279,056

Accumulated other comprehensive income

79

79

79

79

79

79

79

79

79

31

-

-

-693

Common stock, $0.001 par value per share, 1,000,000 shares authorized, one share and none issued and outstanding as of September 30, 2017 and June 13, 2017, respectively

-

-

-

-

-

-

-

-

-

-

0

0

-

Total Switch, Inc. stockholders’ equity

215,690

207,451

210,622

199,010

143,599

143,210

129,775

133,951

113,678

108,894

0

0

-

Noncontrolling interest

402,147

420,194

470,359

490,905

566,797

565,142

563,013

614,795

643,880

633,239

-

-

0

TOTAL STOCKHOLDERS’ EQUITY

617,837

627,645

680,981

689,915

710,396

708,352

692,788

748,746

757,558

742,133

-

-

278,363

TOTAL MEMBERS' EQUITY

-

-

-

-

-

-

-

-

-

-

-

-

278,363

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

1,854,539

1,773,743

1,639,113

1,524,877

1,463,857

1,460,030

1,446,800

1,487,252

1,462,469

1,434,759

-

-

921,015

Preferred stock, par value (in dollars per share)

0.00

0.00

-

-

-

-

-

-

-

-

-

-

-

Preferred stock, shares authorized (in shares)

10,000

10,000

-

-

-

-

-

-

-

-

-

-

-

Shares issued (in shares)

0

0

-

-

-

-

-

-

-

-

-

-

-

Shares outstanding (in shares)

0

0

-

-

-

-

-

-

-

-

-

-

-

Switch, Ltd.
Cash

-

-

-

-

-

-

-

-

-

-

7,992

-

-

Accounts receivable, net of allowance of $429 and $340, respectively

-

-

-

-

-

-

-

-

-

-

13,725

-

-

Prepaid expenses

-

-

-

-

-

-

-

-

-

-

4,087

-

-

Other current assets

-

-

-

-

-

-

-

-

-

-

9,597

-

-

Total current assets

-

-

-

-

-

-

-

-

-

-

35,401

-

-

Property and equipment, net

-

-

-

-

-

-

-

-

-

-

1,072,823

-

-

Long term deposit

-

-

-

-

-

-

-

-

-

-

4,300

-

-

Investments

-

-

-

-

-

-

-

-

-

-

0

-

-

Other assets

-

-

-

-

-

-

-

-

-

-

11,894

-

-

TOTAL ASSETS

-

-

-

-

-

-

-

-

-

-

1,124,380

-

-

Long term debt, current portion

-

-

-

-

-

-

-

-

-

-

5,194

-

-

Accounts payable

-

-

-

-

-

-

-

-

-

-

19,516

-

-

Accrued expenses

-

-

-

-

-

-

-

-

-

-

17,750

-

-

Accrued construction payables

-

-

-

-

-

-

-

-

-

-

16,669

-

-

Accrued Michigan building and land purchase

-

-

-

-

-

-

-

-

-

-

22,589

-

-

Accrued impact fee expense

-

-

-

-

-

-

-

-

-

-

0

-

-

Deferred revenue, current portion

-

-

-

-

-

-

-

-

-

-

9,890

-

-

Customer deposits

-

-

-

-

-

-

-

-

-

-

7,939

-

-

Capital lease obligations, current portion

-

-

-

-

-

-

-

-

-

-

3,500

-

-

Total current liabilities

-

-

-

-

-

-

-

-

-

-

103,047

-

-

Long term debt, net

-

-

-

-

-

-

-

-

-

-

818,865

-

-

Capital lease obligations

-

-

-

-

-

-

-

-

-

-

19,466

-

-

Accrued interest, capital lease obligations

-

-

-

-

-

-

-

-

-

-

1,981

-

-

Deferred revenue

-

-

-

-

-

-

-

-

-

-

19,301

-

-

TOTAL LIABILITIES

-

-

-

-

-

-

-

-

-

-

962,660

-

-

Members' equity, 225,000,000 units authorized; 200,750,505 and 198,866,680 units issued and outstanding, respectively

-

-

-

-

-

-

-

-

-

-

161,627

-

-

Accumulated other comprehensive gain (loss)

-

-

-

-

-

-

-

-

-

-

93

-

-

TOTAL MEMBERS' EQUITY

-

-

-

-

-

-

-

-

-

-

161,720

-

-

TOTAL LIABILITIES AND MEMBERS' EQUITY

-

-

-

-

-

-

-

-

-

-

1,124,380

-

-

Class A Common Stock
Common stock

95

90

84

78

56

55

52

50

36

36

-

-

-

Common stock, par value (in dollars per share)

0.00

0.00

-

-

-

-

-

-

-

-

-

-

-

Common stock, shares authorized (in shares)

750,000

750,000

-

-

-

-

-

-

-

-

-

-

-

Common Stock, Shares, Issued

95,035

89,768

-

-

-

-

-

-

-

-

-

-

-

Common stock, shares outstanding (in shares)

95,035

89,768

-

-

-

-

-

-

-

-

-

-

-

Class B Common Stock
Common stock

146

151

118

125

149

149

152

160

174

174

-

-

-

Common stock, par value (in dollars per share)

0.00

0.00

-

-

-

-

-

-

-

-

-

-

-

Common stock, shares authorized (in shares)

300,000

300,000

-

-

-

-

-

-

-

-

-

-

-

Common Stock, Shares, Issued

146,410

151,047

-

-

-

-

-

-

-

-

-

-

-

Common stock, shares outstanding (in shares)

146,410

151,047

-

-

-

-

-

-

-

-

-

-

-

Class C Common Stock
Common stock

0

0

43

43

43

43

43

43

43

43

-

-

-

Common stock, par value (in dollars per share)

0.00

0.00

-

-

-

-

-

-

-

-

-

-

-

Common stock, shares authorized (in shares)

75,000

75,000

-

-

-

-

-

-

-

-

-

-

-

Common Stock, Shares, Issued

0

0

-

-

-

-

-

-

-

-

-

-

-

Common stock, shares outstanding (in shares)

0

0

-

-

-

-

-

-

-

-

-

-

-