Operating and finance leases not yet commenced, liability

[Table of Contents](#i89c3c9328e454b30b2c14123b867f3f0_7)EQUINIX, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)  
  
Other InformationOther information related to leases is as follows (in thousands, except years and percent):

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | Years Ended December 31, |
|  | 2021 |  | 2020 |
| Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
| Operating cash flows from finance leases | $ | 113,571  |  |  | $ | 109,558  |  |
| Operating cash flows from operating leases | 258,719  |  |  | 206,512  |  |
| Financing cash flows from finance leases | 165,539  |  |  | 115,288  |  |
|  |  |  |  |
| Right-of-use assets obtained in exchange for lease obligations: (1) |  |  |  |
| Finance leases | $ | 412,214  |  |  | $ | 487,592  |  |
| Operating leases | 10,446  |  |  | 108,797  |  |
|  |  |  |  |
|  | As of December 31, |
|  | 2021 |  | 2020 |
| Weighted-average remaining lease term - finance leases (2) | 14 years |  | 14 years |
| Weighted-average remaining lease term - operating leases (2) | 12 years |  | 12 years |
| Weighted-average discount rate - finance leases | 7  | % |  | 7  | % |
| Weighted-average discount rate - operating leases | 4  | % |  | 4  | % |
| Finance lease ROU assets (3) | $ | 1,875,696  |  |  | $ | 1,688,032  |  |



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(1) Represents all non-cash changes in ROU assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) As of December 31, 2021 and December 31, 2020, we recorded accumulated amortization of finance lease assets of $726.4 million and $604.1 million, respectively. Finance lease assets are recorded within property, plant and equipment, net on the consolidated balance sheets. Maturities of Lease LiabilitiesMaturities of lease liabilities as of December 31, 2021 are as follows (in thousands):

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Year ended December 31,  |  | Operating Leases |  | Finance Leases |  | Total |
| 2022 |  | $ | 181,810  |  |  | $ | 252,670  |  |  | $ | 434,480  |  |
| 2023 |  | 181,480  |  |  | 239,268  |  |  | 420,748  |  |
| 2024 |  | 165,689  |  |  | 240,696  |  |  | 406,385  |  |
| 2025 |  | 155,642  |  |  | 237,107  |  |  | 392,749  |  |
| 2026 |  | 145,578  |  |  | 227,262  |  |  | 372,840  |  |
| Thereafter |  | 847,168  |  |  | 1,979,654  |  |  | 2,826,822  |  |
| Total lease payments |  | 1,677,367  |  |  | 3,176,657  |  |  | 4,854,024  |  |
|  |  |  |  |  |  |  |
| Less imputed interest |  | (426,158) |  |  | (1,039,148) |  |  | (1,465,306) |  |
| Total |  | $ | 1,251,209  |  |  | $ | 2,137,509  |  |  | $ | 3,388,718  |  |

We entered into agreements with various landlords primarily to lease data center spaces and ground leases which have not yet commenced as of December 31, 2021. These leases will commence between year 2022 and 2024, with lease terms of 3 to 27 years and total lease commitments of approximately $915.6 million.F-43  

