Iron Mountain (IRM) 10-Q 28 Apr 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 22, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	1-13045
Entity Registrant Name	IRON MOUNTAIN INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	23-2588479
Entity Address, Address Line One	One Federal Street
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02110
City Area Code	617
Local Phone Number	535-4766
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	IRM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Emerging Growth Company	false
Small Business Entity	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		290,561,538
Entity Central Index Key	0001020569
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 195,660	$ 255,828
Accounts receivable (less allowances of $61,167 and $62,009 as of March 31, 2022 and December 31, 2021, respectively)	1,063,723	961,419
Prepaid expenses and other	268,312	224,020
Total Current Assets	1,527,695	1,441,267
Property, Plant and Equipment:
Property, plant and equipment	8,748,937	8,647,303
Less—Accumulated depreciation	(4,078,290)	(3,979,159)
Property, Plant and Equipment, Net	4,670,647	4,668,144
Other Assets, Net:
Goodwill	5,023,691	4,463,531
Customer and supplier relationships and other intangible assets	1,581,429	1,181,043
Operating lease right-of-use assets	2,343,627	2,314,422
Other	480,887	381,624
Total Other Assets, Net	9,429,634	8,340,620
Total Assets	15,627,976	14,450,031
Current Liabilities:
Current portion of long-term debt	91,180	309,428
Accounts payable	424,064	369,145
Accrued expenses and other current liabilities (includes current portion of operating lease liabilities)	883,323	1,032,537
Deferred revenue	301,965	307,470
Total Current Liabilities	1,700,532	2,018,580
Long-term Debt, net of current portion	10,143,011	8,962,513
Long-term Operating Lease Liabilities, net of current portion	2,196,846	2,171,472
Other Long-term Liabilities	407,826	144,053
Deferred Income Taxes	347,562	223,934
Commitments and Contingencies
Redeemable Noncontrolling Interests	73,428	72,411
Equity:
Preferred stock (par value $0.01; authorized 10,000,000 shares; none issued and outstanding)	0	0
Common stock (par value $0.01; authorized 400,000,000 shares; issued and outstanding 290,550,440 and 289,757,061 shares as of March 31, 2022 and December 31, 2021, respectively)	2,906	2,898
Additional paid-in capital	4,409,051	4,412,553
(Distributions in excess of earnings) Earnings in excess of distributions	(3,359,876)	(3,221,152)
Accumulated other comprehensive items, net	(294,358)	(338,347)
Total Iron Mountain Incorporated Stockholders' Equity	757,723	855,952
Noncontrolling Interests	1,048	1,116
Total Equity	758,771	857,068
Total Liabilities and Equity	$ 15,627,976	$ 14,450,031

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 61,167	$ 62,009
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares (in shares)	10,000,000	10,000,000
Preferred stock, issued shares (in shares)	0	0
Preferred stock, outstanding shares (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares (in shares)	400,000,000	400,000,000
Common stock, issued shares (in shares)	290,550,440	289,757,061
Common stock, outstanding shares (in shares)	290,550,440	289,757,061

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Storage rental	$ 751,070	$ 708,056
Service	496,976	373,984
Total Revenues	1,248,046	1,082,040
Operating Expenses:
Cost of sales (excluding depreciation and amortization)	546,622	451,909
Selling, general and administrative	280,723	258,723
Depreciation and amortization	183,615	165,642
Acquisition and Integration Costs	15,661	0
Restructuring Charges	0	39,811
(Gain) Loss on disposal/write-down of property, plant and equipment, net	(705)	(4,451)
Total Operating Expenses	1,025,916	911,634
Operating Income (Loss)	222,130	170,406
Interest Expense, Net (includes Interest Income)	114,442	104,422
Other Expense (Income), Net	55,901	4,713
Net Income (Loss) Before Provision (Benefit) for Income Taxes	51,787	61,271
Provision (Benefit) for Income Taxes	10,080	14,640
Net Income (Loss)	41,707	46,631
Less: Net (Loss) Income Attributable to Noncontrolling Interests	(592)	1,028
Net Income (Loss) Attributable to Iron Mountain Incorporated	$ 42,299	$ 45,603
Net Income (Loss) Per Share Attributable to Iron Mountain Incorporated:
Basic (in dollars per share)	$ 0.15	$ 0.16
Diluted (in dollars per share)	$ 0.14	$ 0.16
Weighted Average Common Shares Outstanding-Basic (in shares)	290,328,000	288,756,000
Weighted Average Common Shares Outstanding-Diluted (in shares)	291,845,602	289,528,287

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Interest income	$ 1,648	$ 2,571

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 41,707	$ 46,631
Other Comprehensive Income (Loss):
Foreign Currency Translation Adjustment	27,453	(66,355)
Change in Fair Value of Derivative Instruments	16,766	15,206
Total Other Comprehensive Income (Loss)	44,219	(51,149)
Comprehensive Income (Loss)	85,926	(4,518)
Comprehensive (Loss) Income Attributable to Noncontrolling Interests	(362)	897
Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated	$ 86,288	$ (5,415)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	COMMON STOCK	ADDITIONAL PAID-IN CAPITAL	(DISTRIBUTIONS IN EXCESS OF EARNINGS) EARNINGS IN EXCESS OF DISTRIBUTIONS	ACCUMULATED OTHER COMPREHENSIVE ITEMS, NET	NONCONTROLLING INTERESTS	REDEEMABLE NONCONTROLLING INTERESTS
Beginning of Period at Dec. 31, 2020	$ 1,136,729	$ 2,883	$ 4,340,078	$ (2,950,339)	$ (255,893)	$ 0
Balance (in shares) at Dec. 31, 2020		288,273,049
Increase (Decrease) in Stockholders' Equity
Issuance and net settlement of shares under employee stock purchase plan and option plans and stock-based compensation	6,398	$ 5	6,393
Issuance of shares under employee stock purchase plan and option plans and stock-based compensation (in shares)		454,698
Change in equity related to redeemable noncontrolling interests	680		680				$ (680)
Parent cash dividends declared	(178,685)			(178,685)
Foreign currency translation adjustment	(66,224)				(66,224)
Change in fair value of derivative instruments	15,206				15,206
Net income (loss)	45,603			45,603
End of period at Mar. 31, 2021	959,707	$ 2,888	4,347,151	(3,083,421)	(306,911)	0
Balance (in shares) at Mar. 31, 2021		288,727,747
Beginning of redeemable noncontrolling interest at Dec. 31, 2020							59,805
Increase (Decrease) in Temporary Equity [Roll Forward]
Change in equity related to redeemable noncontrolling interests	680		680				(680)
Foreign currency translation adjustment							(131)
Net income (loss)							1,028
Noncontrolling interests equity contributions							2,200
Noncontrolling interests dividends							(621)
Ending of redeemable noncontrolling interest at Mar. 31, 2021							61,601
Beginning of Period at Dec. 31, 2021	$ 857,068	$ 2,898	4,412,553	(3,221,152)	(338,347)	1,116
Balance (in shares) at Dec. 31, 2021	289,757,061	289,757,061
Increase (Decrease) in Stockholders' Equity
Issuance and net settlement of shares under employee stock purchase plan and option plans and stock-based compensation	$ (1,502)	$ 8	(1,510)
Issuance of shares under employee stock purchase plan and option plans and stock-based compensation (in shares)		793,379
Change in equity related to redeemable noncontrolling interests	(1,992)		(1,992)				1,992
Parent cash dividends declared	(181,023)			(181,023)
Foreign currency translation adjustment	27,155				27,223	(68)
Change in fair value of derivative instruments	16,766				16,766
Net income (loss)	42,299			42,299
End of period at Mar. 31, 2022	$ 758,771	$ 2,906	4,409,051	$ (3,359,876)	$ (294,358)	$ 1,048
Balance (in shares) at Mar. 31, 2022	290,550,440	290,550,440
Beginning of redeemable noncontrolling interest at Dec. 31, 2021	$ 72,411						72,411
Increase (Decrease) in Temporary Equity [Roll Forward]
Change in equity related to redeemable noncontrolling interests	(1,992)		$ (1,992)				1,992
Foreign currency translation adjustment							298
Net income (loss)							(592)
Noncontrolling interests dividends							(681)
Ending of redeemable noncontrolling interest at Mar. 31, 2022	$ 73,428						$ 73,428

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows from Operating Activities:
Net income (loss)	$ 41,707	$ 46,631
Adjustments to reconcile net income (loss) to cash flows from operating activities:
Depreciation	120,393	114,449
Amortization (includes amortization of deferred financing costs and discounts of $4,389 and $4,127 for the three months ended March 31, 2022 and 2021, respectively)	67,611	55,320
Revenue reduction associated with amortization of customer inducements and above- and below-market leases	1,860	2,263
Stock-based compensation expense	11,341	10,953
Benefit (provision) for deferred income taxes	(10,142)	(6,315)
Loss on early extinguishment of debt	671	0
(Gain) loss on disposal/write-down of property, plant and equipment, net	(705)	(4,451)
Loss associated with OSG deconsolidation	105,825	0
Gain associated with Clutter Transaction	(35,821)	0
Foreign currency transactions and other, net	(7,219)	9,220
(Increase) decrease in assets	(105,321)	(22,154)
(Decrease) increase in liabilities	(135,694)	(137,087)
Cash Flows from Operating Activities	54,506	68,829
Cash Flows from Investing Activities:
Capital expenditures	(161,050)	(145,528)
Cash paid for acquisitions, net of cash acquired	(717,907)	0
Acquisition of customer relationships	0	(874)
Customer inducements	(1,913)	(1,457)
Contract fulfillment costs	(14,237)	(16,719)
Investments in joint ventures and other investments	0	(6,500)
Proceeds from sales of property and equipment and other, net	5,353	12,448
Cash Flows from Investing Activities	(889,754)	(158,630)
Cash Flows from Financing Activities:
Repayment of revolving credit facility, term loan facilities and other debt	(2,278,884)	(415,030)
Proceeds from revolving credit facility, term loan facilities and other debt	3,254,197	625,689
Debt repayment and equity distribution to noncontrolling interests	(681)	(621)
Parent cash dividends	(184,361)	(180,992)
Net (payments) proceeds associated with employee stock-based awards	(12,843)	(4,556)
Other, net	(5,875)	5,000
Cash Flows from Financing Activities	771,553	29,490
Effect of Exchange Rates on Cash and Cash Equivalents	3,527	(5,808)
(Decrease) increase in Cash and Cash Equivalents	(60,168)	(66,119)
Cash and Cash Equivalents, Beginning of Period	255,828	205,063
Cash and Cash Equivalents, End of Period	195,660	138,944
Supplemental Information:
Cash Paid for Interest	179,079	185,558
Cash Paid for Income Taxes, Net	19,277	20,847
Non-Cash Investing and Financing Activities:
Financing Leases	5,190	4,976
Accrued Capital Expenditures	78,466	59,490
Deferred Purchase Obligation and Other	276,300	0
Dividends Payable	$ 187,220	$ 185,560

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Cash Flows [Abstract]
Deferred financing costs and discount included in Amortization	$ 4,389	$ 4,127

General

General	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	GENERAL The unaudited condensed consolidated financial statements of Iron Mountain Incorporated, a Delaware corporation (“IMI”), and its subsidiaries (“we” or “us”), have been prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted pursuant to those rules and regulations, but we believe that the disclosures included herein are adequate to make the information presented not misleading. The interim condensed consolidated financial statements are presented herein and, in the opinion of management, reflect all adjustments of a normal recurring nature necessary for a fair presentation. Interim results are not necessarily indicative of results for a full year. The Condensed Consolidated Financial Statements and Notes thereto, which are included herein, should be read in conjunction with the Consolidated Financial Statements and Notes thereto for the year ended December 31, 2021 included in our Annual Report on Form 10-K filed with the SEC on February 24, 2022 (our “Annual Report”).

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	A. CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash on hand and cash invested in highly liquid short-term securities, which have remaining maturities at the date of purchase of less than 90 days. Cash and cash equivalents are carried at cost, which approximates fair value B. ACCOUNTS RECEIVABLE We maintain an allowance for doubtful accounts and a credit memo reserve for estimated losses resulting from the potential inability of our customers to make required payments and potential disputes regarding billing and service issues. The rollforward of the allowance for doubtful accounts and credit memo reserves for the three months ended March 31, 2022 is as follows: Balance as of December 31, 2021 $ 62,009 Credit memos charged to revenue 12,352 Allowance for bad debts charged to expense 6,699 Deductions and other (1) (19,893) Balance as of March 31, 2022 $ 61,167 (1) Primarily consists of the issuance of credit memos, the write-off of accounts receivable, allowances associated with businesses acquired and the impact associated with currency translation adjustments. C. INVENTORY Inventories are stated at the lower of cost or net realizable value, based on a first-in, first-out methodology. Our inventory primarily consists of information technology-related assets including memory, central processing units, hard drives, adaptors and networking. All of our inventory is considered finished goods. Inventory is included as a component of Prepaid expenses and other in our Condensed Consolidated Balance Sheets. At March 31, 2022, we have inventory of approximately $24,900, net of related reserves for obsolete, excess and slow-moving inventory, which was acquired as part of the ITRenew Transaction (as defined in Note 3). We had no inventory at December 31, 2021. D. LEASES We lease facilities for certain warehouses, data centers and office space. We also have land leases, including those on which certain facilities are located. Operating and financing lease right-of-use assets and lease liabilities as of March 31, 2022 and December 31, 2021 are as follows: DESCRIPTION MARCH 31, 2022 DECEMBER 31, 2021 Assets: Operating lease right-of-use assets $ 2,343,627 $ 2,314,422 Financing lease right-of-use assets, net of accumulated depreciation (1) 284,468 298,049 Liabilities: Current Operating lease liabilities $ 265,186 $ 259,957 Financing lease liabilities (1) 39,397 41,168 Long-term Operating lease liabilities $ 2,196,846 $ 2,171,472 Financing lease liabilities (1) 301,603 315,561 (1) Financing lease right-of-use assets, current financing lease liabilities and long-term financing lease liabilities are included within Property, Plant and Equipment, Net, Current portion of long-term debt and Long-term Debt, net of current portion, respectively, within our Condensed Consolidated Balance Sheets. The components of the lease expense for the three months ended March 31, 2022 and 2021 are as follows: THREE MONTHS ENDED MARCH 31, DESCRIPTION 2022 2021 Operating lease cost (1) $ 143,530 $ 132,675 Financing lease cost: Depreciation of financing lease right-of-use assets $ 11,454 $ 12,648 Interest expense for financing lease liabilities 4,678 4,975 (1) Operating lease cost, the majority of which is included in Cost of sales, includes variable lease costs of $30,508 and $28,368 for the three months ended March 31, 2022 and 2021, respectively. Other information: Supplemental cash flow information relating to our leases for the three months ended March 31, 2022 and 2021 is as follows: THREE MONTHS ENDED MARCH 31, CASH PAID FOR AMOUNTS INCLUDED IN MEASUREMENT OF LEASE LIABILITIES: 2022 2021 Operating cash flows used in operating leases $ 101,605 $ 93,645 Operating cash flows used in financing leases (interest) 4,678 4,975 Financing cash flows used in financing leases 10,362 12,441 NON-CASH ITEMS: Operating lease modifications and reassessments $ 23,767 $ 31,994 New operating leases (including acquisitions and sale-leaseback transactions) 125,902 48,200 E. GOODWILL Our reporting units as of December 31, 2021 are described in detail in Note 2.k. to Notes to Consolidated Financial Statements included in our Annual Report. The goodwill associated with acquisitions completed during the first three months of 2022 (as described in Note 3) has been incorporated into our reporting units as they existed as of December 31, 2021. The changes in the carrying value of goodwill attributable to each reportable operating segment for the three months ended March 31, 2022 are as follows: GLOBAL RIM BUSINESS GLOBAL DATA CENTER BUSINESS CORPORATE AND OTHER BUSINESS TOTAL CONSOLIDATED Goodwill balance, net of accumulated amortization as of December 31, 2021 $ 3,976,261 $ 426,074 $ 61,196 $ 4,463,531 Non-tax deductible goodwill acquired during the period 978 — 580,150 581,128 Fair value and other adjustments (1) (16,993) — — (16,993) Currency effects (672) (2,702) (601) (3,975) Goodwill balance, net accumulated amortization as of March 31, 2022 $ 3,959,574 $ 423,372 $ 640,745 $ 5,023,691 Accumulated goodwill impairment balance as of March 31, 2022 $ 132,409 $ — $ 26,011 $ 158,420 (1) This amount represents an adjustment to goodwill as a result of the deconsolidation of certain businesses, as described in Note 2.k. F. FAIR VALUE MEASUREMENTS The assets and liabilities carried at fair value measured on a recurring basis as of March 31, 2022 and December 31, 2021 are as follows: FAIR VALUE MEASUREMENTS AT MARCH 31, 2022 USING DESCRIPTION TOTAL CARRYING QUOTED PRICES IN SIGNIFICANT OTHER SIGNIFICANT Money Market Funds $ 28,718 $ — $ 28,718 $ — Time Deposits 3,167 — 3,167 — Trading Securities 10,442 10,355 87 — Derivative Assets 19,443 — 19,443 — Deferred Purchase Obligation (as defined in Note 3) 275,100 — — 275,100 FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2021 USING DESCRIPTION TOTAL CARRYING QUOTED PRICES IN SIGNIFICANT OTHER SIGNIFICANT Money Market Funds $ 101,022 $ — $ 101,022 $ — Time Deposits 2,238 — 2,238 — Trading Securities 11,147 11,062 85 — Derivative Assets 11,021 — 11,021 — Derivative Liabilities 8,344 — 8,344 — There were no material items that are measured at fair value on a non-recurring basis at March 31, 2022 and December 31, 2021, other than (i) those disclosed in Note 2.o. to Notes to Consolidated Financial Statements included in our Annual Report, (ii) assets acquired and liabilities assumed through the ITRenew Transaction (as defined and described in Note 3), (iii) our investment in the Clutter JV (as defined in Note 4), and (iv) the fair value of our retained investment of our deconsolidated businesses (as described in Note 2.k.), all of which are based on Level 3 inputs. The fair value of the Deferred Purchase Obligation associated with the ITRenew Transaction was determined utilizing a Monte-Carlo model and takes into account our current forecasted projections as it relates to the underlying performance of the business. G. ACCUMULATED OTHER COMPREHENSIVE ITEMS, NET The changes in accumulated other comprehensive items, net for the three months ended March 31, 2022 and 2021 are as follows: THREE MONTHS ENDED MARCH 31, 2022 THREE MONTHS ENDED MARCH 31, 2021 FOREIGN CHANGE IN FAIR VALUE OF TOTAL FOREIGN CHANGE IN FAIR VALUE OF TOTAL Beginning of Period $ (341,024) $ 2,677 $ (338,347) $ (206,190) $ (49,703) $ (255,893) Other comprehensive (loss) income): Foreign currency translation and other adjustments 27,223 — 27,223 (66,224) — (66,224) Change in fair value of derivative instruments — 16,766 16,766 — 15,206 15,206 Total other comprehensive (loss) income 27,223 16,766 43,989 (66,224) 15,206 (51,018) End of Period $ (313,801) $ 19,443 $ (294,358) $ (272,414) $ (34,497) $ (306,911) H. REVENUES The costs associated with the initial movement of customer records into physical storage and certain commissions are considered costs to obtain or fulfill customer contracts (collectively, “Contract Fulfillment Costs”). Contract Fulfillment Costs as of March 31, 2022 and December 31, 2021 are as follows: MARCH 31, 2022 DECEMBER 31, 2021 GROSS ACCUMULATED NET GROSS ACCUMULATED NET Intake Costs asset $ 71,731 $ (45,432) $ 26,299 $ 71,336 $ (42,678) $ 28,658 Commissions asset 121,501 (54,356) 67,145 114,791 (50,553) 64,238 Deferred revenue liabilities are reflected in our Condensed Consolidated Balance Sheets as follows: DESCRIPTION LOCATION IN BALANCE SHEET MARCH 31, 2022 DECEMBER 31, 2021 Deferred revenue - Current Deferred revenue $ 301,965 $ 307,470 Deferred revenue - Long-term Other Long-term Liabilities 31,532 33,691 DATA CENTER LESSOR CONSIDERATIONS Our Global Data Center Business features storage rental provided to customers at contractually specified rates over a fixed contractual period, which are accounted for in accordance with Accounting Standards Codification (“ASC”) No. 842 (“ASC 842”), Leases, as amended. Storage rental revenue, including revenue associated with power and connectivity, associated with our Global Data Center Business for the three months ended March 31, 2022 and 2021 are as follows: THREE MONTHS ENDED MARCH 31, 2022 2021 Storage rental revenue (1) $ 87,451 $ 67,157 (1) Revenue associated with power and connectivity included within storage rental revenue was $28,318 and $13,133 for the three months ended March 31, 2022 and 2021, respectively. I. STOCK-BASED COMPENSATION Our stock-based compensation expense includes the cost of stock options, restricted stock units (“RSUs”), performance units (“PUs”) and shares of stock issued under our employee stock purchase plan (“ESPP”) (together, the “Employee Stock-Based Awards”). 2022 RETIREMENT ELIGIBLE CRITERIA For our Employee Stock-Based Awards made on or after March 1, 2022, we have included the following retirement provision: • Upon an award recipient's retirement on or after attaining age 55 with at least five years of service, if the sum of (i) the award recipient’s age at retirement and (ii) the award recipient’s years of service with us totals at least 65, the award recipient is entitled to continued vesting of any outstanding Employee Stock-Based Awards, provided that their retirement occurs on or after a minimum of six months from the grant date (the “Retirement Criteria”). • Accordingly, (i) grants of Employee Stock-Based Awards to an employee who has met the Retirement Criteria on or before the date of grant, or will meet the Retirement Criteria before the six month anniversary in the year of the grant, will be expensed over six months from the date of grant and (ii) grants of Employee Stock-Based Awards to employees who will meet the Retirement Criteria during the award’s normal vesting period will be expensed between the date of grant and the date upon which the award recipient meets the Retirement Criteria. • Stock options and RSUs granted to award recipients who meet the Retirement Criteria will be delivered to the award recipient based upon the original vesting schedule. If an award recipient retires and has met the Retirement Criteria, stock options will remain exercisable until the original expiration date of the stock options. PUs granted to award recipients who meet the Retirement Criteria will be delivered in accordance with the original vesting schedule of the applicable PU award and remain subject to the same performance conditions. STOCK-BASED COMPENSATION EXPENSE Stock-based compensation expense for the Employee Stock-Based Awards for the three months ended March 31, 2022 and 2021 is as follows: THREE MONTHS ENDED MARCH 31, 2022 2021 Stock-based compensation expense $ 11,341 $ 10,953 As of March 31, 2022, unrecognized compensation cost related to the unvested portion of our Employee Stock-Based Awards is $85,449. RESTRICTED STOCK UNITS AND PERFORMANCE UNITS The fair value of RSUs and earned PUs that vested during the three months ended March 31, 2022 and 2021 is as follows: THREE MONTHS ENDED MARCH 31, 2022 2021 Fair value of RSUs vested $ 18,415 $ 19,861 Fair value of earned PUs that vested 4,346 5,591 J. ACQUISITION AND INTEGRATION COSTS Acquisition and integration costs represent operating expenditures directly associated with the closing and integration activities of our business acquisitions that have closed, or are highly probable of closing, and include (i) advisory, legal and professional fees to complete business acquisitions and (ii) costs to integrate acquired businesses into our existing operations, including move, severance, facility upgrade and system integration costs (collectively, “Acquisition and Integration Costs”). Acquisition and Integration Costs do not include costs associated with the formation of joint ventures or costs associated with the acquisition of customer relationships. Total Acquisition and Integration Costs for the three months ended March 31, 2022 and 2021 is $15,661 and $0, respectively. K. OTHER EXPENSE (INCOME), NET Consolidated other expense (income), net for the three months ended March 31, 2022 and 2021 consists of the following: THREE MONTHS ENDED MARCH 31, DESCRIPTION 2022 2021 Foreign currency transaction (gains) losses, net $ (13,201) $ 2,314 Debt extinguishment expense 671 — Other, net (1) 68,431 2,399 Other Expense (Income), Net $ 55,901 $ 4,713 (1) On March 24, 2022, as a result of our loss of control, we deconsolidated the businesses included in the acquisition of OSG Records Management (Europe) Limited, excluding Ukraine. We recognized a loss of approximately $105,800 associated with the deconsolidation to Other expense (income), net in the first quarter of 2022 representing the difference between the net asset value prior to the deconsolidation and subsequent remeasurement of the retained investment to fair value of zero. We have concluded that the deconsolidation does not meet the criteria to be reported as discontinued operations in our consolidated financial statements, as it does not represent a strategic shift that will have a major effect on our operations and financial results. The loss was partially offset by a gain of approximately $35,800 associated with the Clutter Transaction (as defined in Note 4). L. INCOME TAXES We provide for income taxes during interim periods based on our estimate of the effective tax rate for the year. Our effective tax rates for the three months ended March 31, 2022 and 2021 are as follows: THREE MONTHS ENDED MARCH 31, 2022 (1) 2021 (2) Effective Tax Rate 19.5 % 23.9 % (1) The primary reconciling items between the federal statutory tax rate of 21.0% and our overall effective tax rate for the three months ended March 31, 2022 were the benefits derived from the dividends paid deduction, the differences in the tax rates to which our foreign earnings are subject, and a release of valuation allowances on deferred tax assets of our U.S. taxable REIT subsidiaries (“TRS”) of approximately $9,900 as a result of the ITRenew Transaction. (2) The primary reconciling items between the federal statutory tax rate of 21.0% and our overall effective tax rate for the three months ended March 31, 2021 were the benefits derived from the dividends paid deduction and the impacts of differences in the tax rates to which our foreign earnings are subject. M. INCOME (LOSS) PER SHARE—BASIC AND DILUTED The calculation of basic and diluted income (loss) per share for the three months ended March 31, 2022 and 2021 are as follows: THREE MONTHS ENDED MARCH 31, 2022 2021 Net Income (Loss) $ 41,707 $ 46,631 Less: Net (Loss) Income Attributable to Noncontrolling Interests (592) 1,028 Net Income (Loss) Attributable to Iron Mountain Incorporated (utilized in numerator of Earnings Per Share calculation) $ 42,299 $ 45,603 Weighted-average shares—basic 290,328,000 288,756,000 Effect of dilutive potential stock options 995,625 56,437 Effect of dilutive potential RSUs and PUs 521,977 715,850 Weighted-average shares—diluted 291,845,602 289,528,287 Net Income (Loss) Per Share Attributable to Iron Mountain Incorporated: Basic $ 0.15 $ 0.16 Diluted $ 0.14 $ 0.16 Antidilutive stock options, RSUs and PUs, excluded from the calculation 755,580 4,708,068

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	In order to expand our asset lifecyle management (“ALM”) operations, on January 25, 2022, we acquired an approximately 80% interest in Intercept Parent, Inc. (“ITRenew”), at an agreed upon purchase price of $725,000, subject to certain working capital adjustments at, and subsequent to, the closing (the “ITRenew Transaction”). At closing, we paid $748,846 and acquired $30,720 of cash on hand, for a net purchase price of $718,126 for the ITRenew Transaction. The acquisition agreement provides us the option to purchase, and provides the shareholders of ITRenew the option to sell, the remaining approximately 20% interest in ITRenew as follows: (i) approximately 16% on or after the second anniversary of the ITRenew Transaction and (ii) approximately 4% on or after the third anniversary of the ITRenew Transaction (collectively, the “Remaining Interests”). The total payments for the Remaining Interests, based on the achievement of certain targeted performance metrics, will be no less than $200,000 and no more than $531,000 (the “Deferred Purchase Obligation”). The maximum amount of the Deferred Purchase Obligation would require achievement of the targeted performance metrics at approximately two times the level that is assumed in our current fair value estimate of the Deferred Purchase Obligation of $275,100. From January 25, 2022, we will consolidate 100% of the revenues and expenses associated with this business. The Deferred Purchase Obligation is reflected as a long-term liability in our Condensed Consolidated Balance Sheet at March 31, 2022, and, accordingly, we have not reflected any non-controlling interests associated with the ITRenew Transaction as the Remaining Interests have non-substantive equity interest rights. Subsequent increases or decreases in the fair value estimate of the Deferred Purchase Obligation will be included as a component of Other expense (income), net in our Consolidated Statements of Operations until the Deferred Purchase Obligation is settled or paid. ITRenew is presented as a component of our Corporate and Other Business segment and primarily operates in the United States. PRELIMINARY PURCHASE PRICE ALLOCATION A summary of the cumulative consideration paid and the preliminary allocation of the purchase price paid for all of our 2022 acquisitions through March 31, 2022 is as follows: THREE MONTHS ENDED MARCH 31, 2022 Cash Paid (gross of cash acquired) (1) $ 748,846 Deferred Purchase Obligation and Other (2) 276,300 Total Consideration 1,025,146 Fair Value of Identifiable Assets Acquired and Liabilities Assumed: Cash 30,720 Accounts Receivable, Prepaid Expenses and Other Assets 71,892 Property, Plant and Equipment 7,600 Customer and Supplier Relationship Intangible Assets (3) 488,080 Other Intangible Assets (3) 47,300 Operating Lease Right-of-Use Assets 30,395 Accounts Payable, Accrued Expenses and Other Liabilities (60,014) Operating Lease Liabilities (30,395) Deferred Income Taxes (141,560) Total Fair Value of Identifiable Net Assets Acquired 444,018 Goodwill Initially Recorded (4) $ 581,128 (1) Cash paid for acquisitions, net of cash acquired in our Condensed Consolidated Statement of Cash Flows includes contingent and other payments received of $219 for the three months ended March 31, 2022 related to acquisitions made in the years prior to 2022. (2) At March 31, 2022, we included approximately $275,100 in Other long-term liabilities related to the fair value estimate of the Deferred Purchase Obligation for the Remaining Interests. Deferred Purchase Obligation and Other also includes approximately $1,200 of purchase price associated with the acquisition of a records and information management business completed in 2022. (3) The preliminary weighted average life of the intangible assets associated with the ITRenew Transaction is approximately 11 years. (4) Goodwill is primarily attributable to the assembled workforce, expanded market opportunities and costs and other operating synergies anticipated upon the integration of the operations of us and the acquired businesses. The preliminary purchase price allocations that are not finalized as of March 31, 2022 relate to the final assessment of the fair values of intangible assets (primarily customer and supplier relationship intangible assets) and property, plant and equipment associated with the acquisitions we closed in 2022. Any adjustments to our estimates of purchase price allocation will be made in the periods in which the adjustments are determined, but no later than the one year measurement period, and the cumulative effect of such adjustments will be calculated as if the adjustments had been completed as of the acquisition dates. Adjustments recorded during the three months ended March 31, 2022 were not material to our results from operations.

Investments

Investments	3 Months Ended
	Mar. 31, 2022
Investments, All Other Investments [Abstract]
Investments	In February 2022, the joint venture formed by MakeSpace Labs, Inc. and us (the “MakeSpace JV”) entered into an agreement with Clutter, Inc. (“Clutter”) pursuant to which the equityholders of the MakeSpace JV contributed their ownership interests in the MakeSpace JV and Clutter’s shareholders contributed their ownership interests in Clutter to create a newly formed venture (the “Clutter JV”). In exchange for our 49.99% interest in the MakeSpace JV, we received an approximate 27% interest in the Clutter JV (the “Clutter Transaction”). As a result of the Clutter Transaction, we recognized a gain related to our contributed interest in the MakeSpace JV of approximately $35,800, which was recorded to Other, net, a component of Other expense (income), net. The following joint ventures are accounted for as equity method investments and are presented as a component of Other within Other assets, net in our Condensed Consolidated Balance Sheets. The carrying values and equity interests in our joint ventures at March 31, 2022 and December 31, 2021 are as follows: MARCH 31, 2022 DECEMBER 31, 2021 CARRYING VALUE EQUITY INTEREST CARRYING VALUE EQUITY INTEREST Joint venture with Web Werks India Private Limited $ 51,258 38.50 % $ 51,140 38.50 % Joint venture with AGC Equity Partners (the “Frankfurt JV”) 26,472 20.00 % 26,167 20.00 % MakeSpace JV — — % 30,154 49.99 % Clutter JV 66,625 26.76 % — — %

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES Derivative instruments we are party to include: (i) interest rate swap agreements (which are designated as cash flow hedges) and (ii) cross-currency swap agreements (which are designated as net investment hedges). INTEREST RATE SWAP AGREEMENTS DESIGNATED AS CASH FLOW HEDGES In March 2018, we entered into interest rate swap agreements to limit our exposure to changes in interest rates on a portion of our floating rate indebtedness. These swap agreements expired in March 2022. In July 2019, we entered into forward-starting interest rate swap agreements to limit our exposure to changes in interest rates on a portion of our floating rate indebtedness. As of March 31, 2022, we had $350,000 in notional value of interest rate swap agreements outstanding, which expire in March 2024. Under the interest rate swap agreements, we receive variable rate interest payments associated with the notional amount of each interest rate swap, based upon one-month LIBOR, in exchange for the payment of fixed interest rates as specified in the interest rate swap agreements. We have designated these interest rate swap agreements as cash flow hedges. Unrealized gains are recognized as assets, while unrealized losses are recognized as liabilities. CROSS-CURRENCY SWAP AGREEMENTS DESIGNATED AS A HEDGE OF NET INVESTMENT In August 2019, we entered into cross-currency swap agreements to hedge the variability of exchange rate impacts between the United States dollar and the Euro. Under the terms of the cross-currency swap agreements, we notionally exchanged approximately $110,000 at an interest rate of 6.0% for approximately 99,055 Euros at a weighted average interest rate of approximately 3.65%. These cross-currency swap agreements expire in August 2023 (“August 2023 Cross-Currency Swap Agreements”). In September 2020, we entered into cross-currency swap agreements to hedge the variability of exchange rate impacts between the United States dollar and the Euro. Under the terms of the cross-currency swap agreements, we notionally exchanged approximately $359,200 at an interest rate of 4.5% for approximately 300,000 Euros at a weighted average interest rate of approximately 3.4%. These cross-currency swap agreements expire in February 2026 (“February 2026 Cross-Currency Swap Agreements”). We have designated these cross-currency swap agreements as a hedge of net investment against certain of our Euro denominated subsidiaries and they require an exchange of the notional amounts at maturity. These cross-currency swap agreements are marked to market at each reporting period, representing the fair values of the cross-currency swap agreements, and any changes in fair value are recognized as a component of Accumulated other comprehensive items, net. Unrealized gains are recognized as assets while unrealized losses are recognized as liabilities. Assets (liabilities) recognized in our Condensed Consolidated Balance Sheets at March 31, 2022 and December 31, 2021, by derivative instrument, are as follows: DERIVATIVE INSTRUMENTS (1) MARCH 31, 2022 DECEMBER 31, 2021 Cash Flow Hedges (2) Interest Rate Swap Agreements $ 3,790 $ (7,680) Net Investment Hedges (3) August 2023 Cross-Currency Swap Agreements $ 219 $ (664) February 2026 Cross-Currency Swap Agreements 15,434 11,021 (1) Our derivative assets are included as a component of Other within Other assets, net in our Condensed Consolidated Balance Sheets and our derivative liabilities are included as a component of (i) Accrued expenses and other current liabilities or (ii) Other long-term liabilities in our Condensed Consolidated Balance Sheets. As of March 31, 2022, $19,443 is included within Other assets. As of December 31, 2021, $11,021 is included within Other assets, $2,082 is included within Accrued expense and other current liabilities and $6,262 is included within Other long-term liabilities. (2) As of March 31, 2022, cumulative net gains of $3,790 are recorded within Accumulated other comprehensive items, net associated with these interest rate swap agreements. (3) As of March 31, 2022, cumulative net gains of $15,653 are recorded within Accumulated other comprehensive items, net associated with these cross-currency swap agreements. Unrealized gains (losses) recognized during the three months ended March 31, 2022 and 2021, by derivative instrument, are as follows: THREE MONTHS ENDED MARCH 31, DERIVATIVE INSTRUMENTS (1) 2022 2021 Cash Flow Hedges Interest Rate Swap Agreements $ 11,470 $ 4,201 Net Investment Hedges August 2023 Cross-Currency Swap Agreements $ 883 $ 4,751 February 2026 Cross-Currency Swap Agreements 4,413 6,254

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt	Long-term debt is as follows: MARCH 31, 2022 DECEMBER 31, 2021 DEBT (INCLUSIVE OF DISCOUNT) UNAMORTIZED DEFERRED FINANCING COSTS CARRYING AMOUNT FAIR VALUE DEBT (INCLUSIVE OF DISCOUNT) UNAMORTIZED DEFERRED FINANCING COSTS CARRYING AMOUNT FAIR VALUE Revolving Credit Facility $ 650,000 $ (10,096) $ 639,904 $ 650,000 $ — $ (5,174) $ (5,174) $ — Term Loan A 250,000 — 250,000 250,000 203,125 — 203,125 203,125 Term Loan B 671,153 (4,683) 666,470 672,000 672,847 (4,995) 667,852 675,500 Australian Dollar Term Loan (the “AUD Term Loan”) 226,517 (517) 226,000 229,130 223,182 (656) 222,526 223,530 UK Bilateral Revolving Credit Facility (the “UK Bilateral Facility”) 183,870 (525) 183,345 183,870 189,168 (709) 188,459 189,168 3 7 / 8 % GBP Senior Notes due 2025 (the “GBP Notes”) 525,342 (3,554) 521,788 521,560 540,481 (3,912) 536,569 542,508 4 7 / 8 % Senior Notes due 2027 (the “4 7 / 8 % Notes due 2027”) (1) 1,000,000 (7,821) 992,179 987,500 1,000,000 (8,176) 991,824 1,030,000 5 1 / 4 % Senior Notes due 2028 (the “5 1 / 4 % Notes due 2028”) (1) 825,000 (7,085) 817,915 814,688 825,000 (7,380) 817,620 862,125 5% Senior Notes due 2028 (the “5% Notes due 2028”) (1) 500,000 (4,582) 495,418 485,000 500,000 (4,763) 495,237 513,750 4 7 / 8 % Senior Notes due 2029 (the “4 7 / 8 % Notes due 2029”) (1) 1,000,000 (10,849) 989,151 950,000 1,000,000 (11,211) 988,789 1,022,500 5 1 / 4 % Senior Notes due 2030 (the “5 1 / 4 Notes due 2030”) (1) 1,300,000 (12,535) 1,287,465 1,261,000 1,300,000 (12,911) 1,287,089 1,355,250 4 1 / 2 % Senior Notes due 2031 (the “4 1 / 2 % Notes”) (1) 1,100,000 (11,093) 1,088,907 1,009,250 1,100,000 (11,404) 1,088,596 1,094,500 5% Senior Notes due 2032 (the “5% Notes due 2032”) 750,000 (13,499) 736,501 705,000 750,000 (13,782) 736,218 767,813 5 5 / 8 % Senior Notes due 2032 (the “5 5 / 8 % Notes”) (1) 600,000 (6,001) 593,999 590,250 600,000 (6,147) 593,853 637,500 Real Estate Mortgages, Financing Lease Liabilities and Other 446,394 (795) 445,599 446,394 460,648 (840) 459,808 460,648 Accounts Receivable Securitization Program 300,000 (450) 299,550 300,000 — (450) (450) — Total Long-term Debt 10,328,276 (94,085) 10,234,191 9,364,451 (92,510) 9,271,941 Less Current Portion (91,180) — (91,180) (310,084) 656 (309,428) Long-term Debt, Net of Current Portion $ 10,237,096 $ (94,085) $ 10,143,011 $ 9,054,367 $ (91,854) $ 8,962,513 (1) Collectively, the “Parent Notes”. See Note 7 to Notes to Consolidated Financial Statements included in our Annual Report for additional information regarding our long-term debt, including the direct obligors of each of our debt instruments as well as information regarding the fair value of our debt instruments (including the levels of the fair value hierarchy used to determine the fair value of our debt instruments). The levels of the fair value hierarchy used to determine the fair value of our debt as of March 31, 2022 are consistent with the levels of the fair value hierarchy used to determine the fair value of our debt as of December 31, 2021 (which are disclosed in our Annual Report). CREDIT AGREEMENT Our credit agreement (the “Credit Agreement”) consists of a revolving credit facility (the “Revolving Credit Facility”), a term loan A (the “Term Loan A”) and a term loan B (the “Term Loan B”). On March 18, 2022, we entered into an amendment to the Credit Agreement, which included the following changes: (i) extended the maturity date of the Revolving Credit Facility and Term Loan A from June 3, 2023 to March 18, 2027; (ii) refinanced and increased the borrowing capacity that IMI and certain of its United States and foreign subsidiaries are able to borrow under the Revolving Credit Facility from $1,750,000 to $2,250,000; (iii) refinanced the existing Term Loan A with a new $250,000 Term Loan A; and (iv) increased the net total lease adjusted leverage ratio maximum allowable from 6.5x to 7.0x and removed the net secured lease adjusted leverage ratio requirement. On March 18, 2022, we borrowed the full amount of the Term Loan A. As of March 31, 2022, we had $650,000, $250,000 and $672,000 of outstanding borrowings under the Revolving Credit Facility, Term Loan A and Term Loan B, respectively. In addition, we also had various outstanding letters of credit totaling $3,056. The remaining amount available for borrowing under the Revolving Credit Facility as of March 31, 2022 was $1,596,944 (which represents the maximum availability as of such date). Additionally, the Credit Agreement permits us to incur incremental indebtedness thereunder by adding new term loans or revolving loans or by increasing the principal amount of any existing loans thereunder, subject to a cap contained therein. Th e average interest rate in effect under the Credit Agreement was 2.2% and 1.9% as of March 31, 2022 and December 31, 2021, respectively. REVOLVING CREDIT FACILITY $2,250,000 TERM LOAN A $250,000 TERM LOAN B $700,000 Outstanding borrowings $650,000 Aggregate outstanding principal amount $250,000 Aggregate outstanding principal amount $672,000 2.2% Interest rate 2.1% Interest rate 2.9% Interest rate As of March 31, 2022 As of March 31, 2022 As of March 31, 2022 AUSTRALIAN DOLLAR TERM LOAN On March 18, 2022, Iron Mountain Australia Group Pty, Ltd. (“IM Australia”), a wholly owned subsidiary of IMI, amended its AUD Term Loan to (i) extend the maturity date from September 22, 2022 to September 30, 2026 and (ii) decrease the interest rate from BBSY (an Australian benchmark variable interest rate) plus 3.875% to BBSY plus 3.625%. All other terms of the AUD Term Loan remain consistent with what was disclosed in Note 7 to Notes to Consolidated Financial Statements included in our Annual Report. The interest rate in effect under the AUD Term Loan was 3.9% and 4.0% as of March 31, 2022 and December 31, 2021, respectively. OUTSTANDING BORROWINGS AU$305,889 INTEREST RATE 3.9% As of March 31, 2022 CASH POOLING We currently utilize four separate cash pooling arrangements. We utilize two separate cash pooling arrangements with Bank Mendes Gans (“BMG”), one of which we utilize to manage global liquidity requirements for our qualified REIT subsidiaries ("QRS”) (the “BMG QRS Cash Pool”) and the other for our TRSs (the “BMG TRS Cash Pool”). We utilize two separate cash pooling arrangements with JP Morgan Chase Bank, N.A. (“JPM”), one of which we utilize to manage global liquidity requirements for our QRSs in the Asia Pacific region (the “JPM QRS Cash Pool”) and the other for our TRSs in the Asia Pacific region (the “JPM TRS Cash Pool”) (collectively, the “JPM Cash Pools”). The approximate amount of the net cash position for our cash pools and the approximate amount of the gross position and outstanding debit balances for each of these pools as of March 31, 2022 and December 31, 2021 are as follows: MARCH 31, 2022 DECEMBER 31, 2021 GROSS CASH POSITION OUTSTANDING DEBIT BALANCES NET CASH POSITION GROSS CASH POSITION OUTSTANDING DEBIT BALANCES NET CASH POSITION BMG QRS Cash Pool $ 554,600 $ (553,100) $ 1,500 $ 552,900 $ (552,100) $ 800 BMG TRS Cash Pool 552,900 (551,700) 1,200 606,000 (603,900) 2,100 JPM QRS Cash Pool 13,600 (13,500) 100 9,400 (9,200) 200 JPM TRS Cash Pool 17,000 (16,600) 400 12,000 (9,900) 2,100 The net cash position balances as of March 31, 2022 and December 31, 2021 are reflected as cash and cash equivalents in our Condensed Consolidated Balance Sheets. LETTERS OF CREDIT As of March 31, 2022, we had outstanding letters of credit totaling $36,498,of which $3,056 reduce our borrowing capacity under the Revolving Credit Facility (as described above). The letters of credit expire at various dates between April 2022 and January 2033. DEBT COVENANTS The Credit Agreement, our bond indentures and other agreements governing our indebtedness contain certain restrictive financial and operating covenants, including covenants that restrict our ability to complete acquisitions, pay cash dividends, incur indebtedness, make investments, sell assets and take other specified corporate actions. The covenants do not contain a rating trigger. Therefore, a change in our debt rating would not trigger a default under the Credit Agreement, our bond indentures or other agreements governing our indebtedness. The Credit Agreement requires that we satisfy a fixed charge coverage ratio and a net total lease adjusted leverage ratio on a quarterly basis and our bond indentures require that, among other things, we satisfy a leverage ratio (not lease adjusted) or a fixed charge coverage ratio (not lease adjusted), as a condition to taking actions such as paying dividends and incurring indebtedness. The Credit Agreement uses earnings before interest, taxes, depreciation and amortization and rent expense (“EBITDAR”) based calculations and the bond indentures use earnings before interest, taxes, depreciation and amortization (“EBITDA”) based calculations as the primary measures of financial performance for purposes of calculating leverage and fixed charge coverage ratios. The EBITDAR- and EBITDA-based leverage calculations include our consolidated subsidiaries, other than those we have designated as “Unrestricted Subsidiaries” as defined in the Credit Agreement and bond indentures. Generally, the Credit Agreement and the bond indentures use a trailing four fiscal quarter basis for purposes of the relevant calculations and require certain adjustments and exclusions for purposes of those calculations, which make the calculation of financial performance for purposes of those calculations under the Credit Agreement and bond indentures not directly comparable to Adjusted EBITDA as presented herein. We are in compliance with our leverage and fixed charge coverage ratios under the Credit Agreement, our bond indentures and other agreements governing our indebtedness as of March 31, 2022 and December 31, 2021. Noncompliance with these leverage and fixed charge coverage ratios would have a material adverse effect on our financial condition.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	We are involved in litigation from time to time in the ordinary course of business, including litigation arising from damage to customer assets in our facilities caused by fires and other natural disasters. While the outcome of such litigation is inherently uncertain, we do not believe any current litigation will have a material adverse effect on our consolidated financial condition, results of operations or cash flows. We have estimated a reasonably possible range for all loss contingencies and believe it is reasonably possible that we could incur aggregate losses in addition to amounts currently accrued for all matters up to an additional $25,000 over the next several years, of which certain amounts would be covered by insurance or indemnity arrangement.

Stockholders' Equity Matters

Stockholders' Equity Matters	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stockholders' Equity Matters	STOCKHOLDERS' EQUITY MATTERS In fiscal year 2021 and the three months ended March 31, 2022, our board of directors declared the following dividends: DECLARATION DATE DIVIDEND RECORD DATE TOTAL PAYMENT DATE February 24, 2021 $ 0.6185 March 15, 2021 $ 178,569 April 6, 2021 May 6, 2021 0.6185 June 15, 2021 179,026 July 6, 2021 August 5, 2021 0.6185 September 15, 2021 179,080 October 6, 2021 November 4, 2021 0.6185 December 15, 2021 179,132 January 6, 2022 February 24, 2022 0.6185 March 15, 2022 179,661 April 6, 2022 On April 28, 2022, we declared a dividend to our stockholders of record as of June 15, 2022 of $0.6185 per share, payable on July 6, 2022.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION Our three reportable operating segments as of December 31, 2021 are described in Note 11 to Notes to Consolidated Financial Statements included in our Annual Report and are as follows: • Global Records and Information Management (“Global RIM”) Business • Global Data Center Business • Corporate and Other Business The operations associated with acquisitions completed during the first three months of 2022 have been incorporated into our existing reportable operating segments. An analysis of our business segment information and reconciliation to the accompanying Condensed Consolidated Financial Statements for the three months ended March 31, 2022 and 2021 is as follows: THREE MONTHS ENDED MARCH 31, 2022 2021 Global RIM Business Total Revenues $ 1,043,582 $ 967,294 Adjusted EBITDA 451,249 408,562 Global Data Center Business Total Revenues $ 96,987 $ 71,108 Adjusted EBITDA 41,977 30,432 Corporate and Other Business Total Revenues $ 107,477 $ 43,638 Adjusted EBITDA (62,232) (58,429) Total Consolidated Total Revenues $ 1,248,046 $ 1,082,040 Adjusted EBITDA 430,994 380,565 Adjusted EBITDA for each segment is defined as net income (loss) before interest expense, net, provision (benefit) for income taxes, depreciation and amortization (inclusive of our share of Adjusted EBITDA from our unconsolidated joint ventures), and excluding certain items we do not believe to be indicative of our core operating results, specifically: EXCLUDED • Acquisition and Integration Costs • Other expense (income), net • Restructuring Charges • Stock-based compensation expense • (Gain) loss on disposal/write-down of property, plant and equipment, net (including real estate) Internally, we use Adjusted EBITDA as the basis for evaluating the performance of, and allocating resources to, our operating segments. A reconciliation of Net Income (Loss) to Adjusted EBITDA on a consolidated basis for the three months ended March 31, 2022 and 2021 is as follows: THREE MONTHS ENDED MARCH 31, 2022 2021 Net Income (Loss) $ 41,707 $ 46,631 Add/(Deduct): Interest expense, net 114,442 104,422 Provision (benefit) for income taxes 10,080 14,640 Depreciation and amortization 183,615 165,642 Acquisition and Integration Costs 15,661 — Restructuring Charges — 39,811 (Gain) loss on disposal/write-down of property, plant and equipment, net (including real estate) (705) (4,451) Other expense (income), net, excluding our share of losses (gains) from our unconsolidated joint ventures 53,515 2,121 Stock-based compensation expense 11,341 10,733 Our share of Adjusted EBITDA reconciling items from our unconsolidated joint ventures 1,338 1,016 Adjusted EBITDA $ 430,994 $ 380,565 Information as to our revenues by product and service lines by segment for the three months ended March 31, 2022 and 2021 are as follows: THREE MONTHS ENDED MARCH 31, 2022 2021 Global RIM Business Records Management (1) $ 802,553 $ 752,123 Data Management (1) 117,722 118,414 Information Destruction (1)(2) 123,307 96,757 Data Center (1) — — Global Data Center Business Records Management (1) $ — $ — Data Management (1) — — Information Destruction (1)(2) — — Data Center (1) 96,987 71,108 Corporate and Other Business Records Management (1) $ 33,689 $ 26,967 Data Management (1) 14,141 16,671 Information Destruction (1)(2)(3) 59,647 — Data Center (1) — — Total Consolidated Records Management (1) $ 836,242 $ 779,090 Data Management (1) 131,863 135,085 Information Destruction (1)(2)(3) 182,954 96,757 Data Center (1) 96,987 71,108 (1) Each of these offerings has a component of revenue that is storage rental related and a component that is service revenues, except for information destruction, which does not have a storage rental component. (2) Includes secure shredding services. (3) Includes product revenue from ITRenew.

Related Parties

Related Parties	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Parties	RELATED PARTIESIn October 2020, in connection with the formation of the Frankfurt JV, we entered into agreements whereby we will earn various fees, including (i) special project revenue and (ii) property management and construction and development fees for services we are providing to the Frankfurt JV (the “Frankfurt JV Agreements”). Revenues and expenses associated with the Frankfurt JV Agreements are presented as a component of our Global Data Center Business segment. During the three months ended March 31, 2022 and March 31, 2021, we recognized revenue of approximately $7,100 and $1,060, respectively, associated with the Frankfurt JV Agreements.In March 2019, in connection with the formation of the MakeSpace JV, we entered into a storage and service agreement with the MakeSpace JV to provide certain storage and related services to the MakeSpace JV (the “MakeSpace Agreement”). In February 2022, in connection with the formation of the Clutter JV, we terminated the MakeSpace Agreement and entered into a storage and service agreement with the Clutter JV to provide certain storage and related services to the Clutter JV (the “Clutter Agreement”). Revenues and expenses associated with the MakeSpace Agreement and Clutter Agreement are presented as a component of our Global RIM Business segment. We recognized total revenue of approximately $7,000 and $7,500 for the three months ended March 31, 2022 and March 31, 2021, respectively, associated with the MakeSpace Agreement and Clutter Agreement.

Project Summit

Project Summit	3 Months Ended
	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
Project Summit	In October 2019, we announced our global program designed to better position us for future growth and achievement of our strategic objectives (“Project Summit”) which we completed as of December 31, 2021. The implementation of Project Summit resulted in total operating expenditures (“Restructuring Charges”) of approximately $450,000 that primarily consisted of: (1) employee severance costs; (2) internal costs associated with the development and implementation of Project Summit initiatives; (3) professional fees, primarily related to third party consultants who assisted with the design and execution of various initiatives as well as project management activities and (4) system implementation and data conversion costs. As Project Summit was completed as of December 31, 2021, there were no Restructuring Charges for the three months ended March 31, 2022. Total Restructuring Charges for the three months ended March 31, 2021 was $39,811 and consisted of (i) employee severance costs of $3,808 and (ii) professional fees and other costs of $36,003.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Cash and Cash Equivalents	CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash on hand and cash invested in highly liquid short-term securities, which have remaining maturities at the date of purchase of less than 90 days. Cash and cash equivalents are carried at cost, which approximates fair value.
Accounts Receivable	ACCOUNTS RECEIVABLE We maintain an allowance for doubtful accounts and a credit memo reserve for estimated losses resulting from the potential inability of our customers to make required payments and potential disputes regarding billing and service issues.
Inventory	INVENTORYInventories are stated at the lower of cost or net realizable value, based on a first-in, first-out methodology. Our inventory primarily consists of information technology-related assets including memory, central processing units, hard drives, adaptors and networking. All of our inventory is considered finished goods. Inventory is included as a component of Prepaid expenses and other in our Condensed Consolidated Balance Sheets.
Leases	LEASES We lease facilities for certain warehouses, data centers and office space. We also have land leases, including those on which certain facilities are located.
Revenues	The costs associated with the initial movement of customer records into physical storage and certain commissions are considered costs to obtain or fulfill customer contracts (collectively, “Contract Fulfillment Costs”).DATA CENTER LESSOR CONSIDERATIONS Our Global Data Center Business features storage rental provided to customers at contractually specified rates over a fixed contractual period, which are accounted for in accordance with Accounting Standards Codification (“ASC”) No. 842 (“ASC 842”), Leases,
Income Taxes	INCOME TAXESWe provide for income taxes during interim periods based on our estimate of the effective tax rate for the year.
Segment Information	Adjusted EBITDA for each segment is defined as net income (loss) before interest expense, net, provision (benefit) for income taxes, depreciation and amortization (inclusive of our share of Adjusted EBITDA from our unconsolidated joint ventures), and excluding certain items we do not believe to be indicative of our core operating results, specifically: EXCLUDED • Acquisition and Integration Costs • Other expense (income), net • Restructuring Charges • Stock-based compensation expense • (Gain) loss on disposal/write-down of property, plant and equipment, net (including real estate) Internally, we use Adjusted EBITDA as the basis for evaluating the performance of, and allocating resources to, our operating segments.
Commitments and Contingencies	We are involved in litigation from time to time in the ordinary course of business, including litigation arising from damage to customer assets in our facilities caused by fires and other natural disasters. While the outcome of such litigation is inherently uncertain, we do not believe any current litigation will have a material adverse effect on our consolidated financial condition, results of operations or cash flows.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Schedule of allowance for credit loss	The rollforward of the allowance for doubtful accounts and credit memo reserves for the three months ended March 31, 2022 is as follows: Balance as of December 31, 2021 $ 62,009 Credit memos charged to revenue 12,352 Allowance for bad debts charged to expense 6,699 Deductions and other (1) (19,893) Balance as of March 31, 2022 $ 61,167 (1) Primarily consists of the issuance of credit memos, the write-off of accounts receivable, allowances associated with businesses acquired and the impact associated with currency translation adjustments.
Schedule of operating and financing lease right-of-use assets and lease liabilities	Operating and financing lease right-of-use assets and lease liabilities as of March 31, 2022 and December 31, 2021 are as follows: DESCRIPTION MARCH 31, 2022 DECEMBER 31, 2021 Assets: Operating lease right-of-use assets $ 2,343,627 $ 2,314,422 Financing lease right-of-use assets, net of accumulated depreciation (1) 284,468 298,049 Liabilities: Current Operating lease liabilities $ 265,186 $ 259,957 Financing lease liabilities (1) 39,397 41,168 Long-term Operating lease liabilities $ 2,196,846 $ 2,171,472 Financing lease liabilities (1) 301,603 315,561 (1) Financing lease right-of-use assets, current financing lease liabilities and long-term financing lease liabilities are included within Property, Plant and Equipment, Net, Current portion of long-term debt and Long-term Debt, net of current portion, respectively, within our Condensed Consolidated Balance Sheets.
Schedule of Lease Costs and Other Information	The components of the lease expense for the three months ended March 31, 2022 and 2021 are as follows: THREE MONTHS ENDED MARCH 31, DESCRIPTION 2022 2021 Operating lease cost (1) $ 143,530 $ 132,675 Financing lease cost: Depreciation of financing lease right-of-use assets $ 11,454 $ 12,648 Interest expense for financing lease liabilities 4,678 4,975 (1) Operating lease cost, the majority of which is included in Cost of sales, includes variable lease costs of $30,508 and $28,368 for the three months ended March 31, 2022 and 2021, respectively. THREE MONTHS ENDED MARCH 31, CASH PAID FOR AMOUNTS INCLUDED IN MEASUREMENT OF LEASE LIABILITIES: 2022 2021 Operating cash flows used in operating leases $ 101,605 $ 93,645 Operating cash flows used in financing leases (interest) 4,678 4,975 Financing cash flows used in financing leases 10,362 12,441 NON-CASH ITEMS: Operating lease modifications and reassessments $ 23,767 $ 31,994 New operating leases (including acquisitions and sale-leaseback transactions) 125,902 48,200
Schedule of changes in the carrying value of goodwill attributable to each reportable operating segment	The changes in the carrying value of goodwill attributable to each reportable operating segment for the three months ended March 31, 2022 are as follows: GLOBAL RIM BUSINESS GLOBAL DATA CENTER BUSINESS CORPORATE AND OTHER BUSINESS TOTAL CONSOLIDATED Goodwill balance, net of accumulated amortization as of December 31, 2021 $ 3,976,261 $ 426,074 $ 61,196 $ 4,463,531 Non-tax deductible goodwill acquired during the period 978 — 580,150 581,128 Fair value and other adjustments (1) (16,993) — — (16,993) Currency effects (672) (2,702) (601) (3,975) Goodwill balance, net accumulated amortization as of March 31, 2022 $ 3,959,574 $ 423,372 $ 640,745 $ 5,023,691 Accumulated goodwill impairment balance as of March 31, 2022 $ 132,409 $ — $ 26,011 $ 158,420 (1) This amount represents an adjustment to goodwill as a result of the deconsolidation of certain businesses, as described in Note 2.k.
Schedule of assets and liabilities carried at fair value measured on a recurring basis	The assets and liabilities carried at fair value measured on a recurring basis as of March 31, 2022 and December 31, 2021 are as follows: FAIR VALUE MEASUREMENTS AT MARCH 31, 2022 USING DESCRIPTION TOTAL CARRYING QUOTED PRICES IN SIGNIFICANT OTHER SIGNIFICANT Money Market Funds $ 28,718 $ — $ 28,718 $ — Time Deposits 3,167 — 3,167 — Trading Securities 10,442 10,355 87 — Derivative Assets 19,443 — 19,443 — Deferred Purchase Obligation (as defined in Note 3) 275,100 — — 275,100 FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2021 USING DESCRIPTION TOTAL CARRYING QUOTED PRICES IN SIGNIFICANT OTHER SIGNIFICANT Money Market Funds $ 101,022 $ — $ 101,022 $ — Time Deposits 2,238 — 2,238 — Trading Securities 11,147 11,062 85 — Derivative Assets 11,021 — 11,021 — Derivative Liabilities 8,344 — 8,344 —
Schedule of changes in accumulated other comprehensive items, net	The changes in accumulated other comprehensive items, net for the three months ended March 31, 2022 and 2021 are as follows: THREE MONTHS ENDED MARCH 31, 2022 THREE MONTHS ENDED MARCH 31, 2021 FOREIGN CHANGE IN FAIR VALUE OF TOTAL FOREIGN CHANGE IN FAIR VALUE OF TOTAL Beginning of Period $ (341,024) $ 2,677 $ (338,347) $ (206,190) $ (49,703) $ (255,893) Other comprehensive (loss) income): Foreign currency translation and other adjustments 27,223 — 27,223 (66,224) — (66,224) Change in fair value of derivative instruments — 16,766 16,766 — 15,206 15,206 Total other comprehensive (loss) income 27,223 16,766 43,989 (66,224) 15,206 (51,018) End of Period $ (313,801) $ 19,443 $ (294,358) $ (272,414) $ (34,497) $ (306,911)
Schedule of cost and accumulated amortization associated with contract fulfillment costs	Contract Fulfillment Costs as of March 31, 2022 and December 31, 2021 are as follows: MARCH 31, 2022 DECEMBER 31, 2021 GROSS ACCUMULATED NET GROSS ACCUMULATED NET Intake Costs asset $ 71,731 $ (45,432) $ 26,299 $ 71,336 $ (42,678) $ 28,658 Commissions asset 121,501 (54,356) 67,145 114,791 (50,553) 64,238
Schedule of deferred revenue liabilities	Deferred revenue liabilities are reflected in our Condensed Consolidated Balance Sheets as follows: DESCRIPTION LOCATION IN BALANCE SHEET MARCH 31, 2022 DECEMBER 31, 2021 Deferred revenue - Current Deferred revenue $ 301,965 $ 307,470 Deferred revenue - Long-term Other Long-term Liabilities 31,532 33,691
Schedule of revenue	Storage rental revenue, including revenue associated with power and connectivity, associated with our Global Data Center Business for the three months ended March 31, 2022 and 2021 are as follows: THREE MONTHS ENDED MARCH 31, 2022 2021 Storage rental revenue (1) $ 87,451 $ 67,157
Schedule of stock-based compensation expense	Stock-based compensation expense for the Employee Stock-Based Awards for the three months ended March 31, 2022 and 2021 is as follows: THREE MONTHS ENDED MARCH 31, 2022 2021 Stock-based compensation expense $ 11,341 $ 10,953
Schedule of fair value of RSU and earned PUs vested	The fair value of RSUs and earned PUs that vested during the three months ended March 31, 2022 and 2021 is as follows: THREE MONTHS ENDED MARCH 31, 2022 2021 Fair value of RSUs vested $ 18,415 $ 19,861 Fair value of earned PUs that vested 4,346 5,591
Schedule of other (income) expense, net	Consolidated other expense (income), net for the three months ended March 31, 2022 and 2021 consists of the following: THREE MONTHS ENDED MARCH 31, DESCRIPTION 2022 2021 Foreign currency transaction (gains) losses, net $ (13,201) $ 2,314 Debt extinguishment expense 671 — Other, net (1) 68,431 2,399 Other Expense (Income), Net $ 55,901 $ 4,713 (1) On March 24, 2022, as a result of our loss of control, we deconsolidated the businesses included in the acquisition of OSG Records Management (Europe) Limited, excluding Ukraine. We recognized a loss of approximately $105,800 associated with the deconsolidation to Other expense (income), net in the first quarter of 2022 representing the difference between the net asset value prior to the deconsolidation and subsequent remeasurement of the retained investment to fair value of zero. We have concluded that the deconsolidation does not meet the criteria to be reported as discontinued operations in our consolidated financial statements, as it does not represent a strategic shift that will have a major effect on our operations and financial results. The loss was partially offset by a gain of approximately $35,800 associated with the Clutter Transaction (as defined in Note 4).
Schedule of income taxes	Our effective tax rates for the three months ended March 31, 2022 and 2021 are as follows: THREE MONTHS ENDED MARCH 31, 2022 (1) 2021 (2) Effective Tax Rate 19.5 % 23.9 % (1) The primary reconciling items between the federal statutory tax rate of 21.0% and our overall effective tax rate for the three months ended March 31, 2022 were the benefits derived from the dividends paid deduction, the differences in the tax rates to which our foreign earnings are subject, and a release of valuation allowances on deferred tax assets of our U.S. taxable REIT subsidiaries (“TRS”) of approximately $9,900 as a result of the ITRenew Transaction. (2) The primary reconciling items between the federal statutory tax rate of 21.0% and our overall effective tax rate for the three months ended March 31, 2021 were the benefits derived from the dividends paid deduction and the impacts of differences in the tax rates to which our foreign earnings are subject.
Schedule of basic and diluted net income (loss) per share attributable to the entity	The calculation of basic and diluted income (loss) per share for the three months ended March 31, 2022 and 2021 are as follows: THREE MONTHS ENDED MARCH 31, 2022 2021 Net Income (Loss) $ 41,707 $ 46,631 Less: Net (Loss) Income Attributable to Noncontrolling Interests (592) 1,028 Net Income (Loss) Attributable to Iron Mountain Incorporated (utilized in numerator of Earnings Per Share calculation) $ 42,299 $ 45,603 Weighted-average shares—basic 290,328,000 288,756,000 Effect of dilutive potential stock options 995,625 56,437 Effect of dilutive potential RSUs and PUs 521,977 715,850 Weighted-average shares—diluted 291,845,602 289,528,287 Net Income (Loss) Per Share Attributable to Iron Mountain Incorporated: Basic $ 0.15 $ 0.16 Diluted $ 0.14 $ 0.16 Antidilutive stock options, RSUs and PUs, excluded from the calculation 755,580 4,708,068

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	A summary of the cumulative consideration paid and the preliminary allocation of the purchase price paid for all of our 2022 acquisitions through March 31, 2022 is as follows: THREE MONTHS ENDED MARCH 31, 2022 Cash Paid (gross of cash acquired) (1) $ 748,846 Deferred Purchase Obligation and Other (2) 276,300 Total Consideration 1,025,146 Fair Value of Identifiable Assets Acquired and Liabilities Assumed: Cash 30,720 Accounts Receivable, Prepaid Expenses and Other Assets 71,892 Property, Plant and Equipment 7,600 Customer and Supplier Relationship Intangible Assets (3) 488,080 Other Intangible Assets (3) 47,300 Operating Lease Right-of-Use Assets 30,395 Accounts Payable, Accrued Expenses and Other Liabilities (60,014) Operating Lease Liabilities (30,395) Deferred Income Taxes (141,560) Total Fair Value of Identifiable Net Assets Acquired 444,018 Goodwill Initially Recorded (4) $ 581,128 (1) Cash paid for acquisitions, net of cash acquired in our Condensed Consolidated Statement of Cash Flows includes contingent and other payments received of $219 for the three months ended March 31, 2022 related to acquisitions made in the years prior to 2022. (2) At March 31, 2022, we included approximately $275,100 in Other long-term liabilities related to the fair value estimate of the Deferred Purchase Obligation for the Remaining Interests. Deferred Purchase Obligation and Other also includes approximately $1,200 of purchase price associated with the acquisition of a records and information management business completed in 2022. (3) The preliminary weighted average life of the intangible assets associated with the ITRenew Transaction is approximately 11 years. (4) Goodwill is primarily attributable to the assembled workforce, expanded market opportunities and costs and other operating synergies anticipated upon the integration of the operations of us and the acquired businesses.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2022
Investments, All Other Investments [Abstract]
Schedule of equity method investments	The carrying values and equity interests in our joint ventures at March 31, 2022 and December 31, 2021 are as follows: MARCH 31, 2022 DECEMBER 31, 2021 CARRYING VALUE EQUITY INTEREST CARRYING VALUE EQUITY INTEREST Joint venture with Web Werks India Private Limited $ 51,258 38.50 % $ 51,140 38.50 % Joint venture with AGC Equity Partners (the “Frankfurt JV”) 26,472 20.00 % 26,167 20.00 % MakeSpace JV — — % 30,154 49.99 % Clutter JV 66,625 26.76 % — — %

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	Assets (liabilities) recognized in our Condensed Consolidated Balance Sheets at March 31, 2022 and December 31, 2021, by derivative instrument, are as follows: DERIVATIVE INSTRUMENTS (1) MARCH 31, 2022 DECEMBER 31, 2021 Cash Flow Hedges (2) Interest Rate Swap Agreements $ 3,790 $ (7,680) Net Investment Hedges (3) August 2023 Cross-Currency Swap Agreements $ 219 $ (664) February 2026 Cross-Currency Swap Agreements 15,434 11,021 (1) Our derivative assets are included as a component of Other within Other assets, net in our Condensed Consolidated Balance Sheets and our derivative liabilities are included as a component of (i) Accrued expenses and other current liabilities or (ii) Other long-term liabilities in our Condensed Consolidated Balance Sheets. As of March 31, 2022, $19,443 is included within Other assets. As of December 31, 2021, $11,021 is included within Other assets, $2,082 is included within Accrued expense and other current liabilities and $6,262 is included within Other long-term liabilities. (2) As of March 31, 2022, cumulative net gains of $3,790 are recorded within Accumulated other comprehensive items, net associated with these interest rate swap agreements. (3) As of March 31, 2022, cumulative net gains of $15,653 are recorded within Accumulated other comprehensive items, net associated with these cross-currency swap agreements.
Schedule of gains(losses) For Derivative Instruments	Unrealized gains (losses) recognized during the three months ended March 31, 2022 and 2021, by derivative instrument, are as follows: THREE MONTHS ENDED MARCH 31, DERIVATIVE INSTRUMENTS (1) 2022 2021 Cash Flow Hedges Interest Rate Swap Agreements $ 11,470 $ 4,201 Net Investment Hedges August 2023 Cross-Currency Swap Agreements $ 883 $ 4,751 February 2026 Cross-Currency Swap Agreements 4,413 6,254

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Carrying Amount and Fair Value of Long-Term Debt Instruments	Long-term debt is as follows: MARCH 31, 2022 DECEMBER 31, 2021 DEBT (INCLUSIVE OF DISCOUNT) UNAMORTIZED DEFERRED FINANCING COSTS CARRYING AMOUNT FAIR VALUE DEBT (INCLUSIVE OF DISCOUNT) UNAMORTIZED DEFERRED FINANCING COSTS CARRYING AMOUNT FAIR VALUE Revolving Credit Facility $ 650,000 $ (10,096) $ 639,904 $ 650,000 $ — $ (5,174) $ (5,174) $ — Term Loan A 250,000 — 250,000 250,000 203,125 — 203,125 203,125 Term Loan B 671,153 (4,683) 666,470 672,000 672,847 (4,995) 667,852 675,500 Australian Dollar Term Loan (the “AUD Term Loan”) 226,517 (517) 226,000 229,130 223,182 (656) 222,526 223,530 UK Bilateral Revolving Credit Facility (the “UK Bilateral Facility”) 183,870 (525) 183,345 183,870 189,168 (709) 188,459 189,168 3 7 / 8 % GBP Senior Notes due 2025 (the “GBP Notes”) 525,342 (3,554) 521,788 521,560 540,481 (3,912) 536,569 542,508 4 7 / 8 % Senior Notes due 2027 (the “4 7 / 8 % Notes due 2027”) (1) 1,000,000 (7,821) 992,179 987,500 1,000,000 (8,176) 991,824 1,030,000 5 1 / 4 % Senior Notes due 2028 (the “5 1 / 4 % Notes due 2028”) (1) 825,000 (7,085) 817,915 814,688 825,000 (7,380) 817,620 862,125 5% Senior Notes due 2028 (the “5% Notes due 2028”) (1) 500,000 (4,582) 495,418 485,000 500,000 (4,763) 495,237 513,750 4 7 / 8 % Senior Notes due 2029 (the “4 7 / 8 % Notes due 2029”) (1) 1,000,000 (10,849) 989,151 950,000 1,000,000 (11,211) 988,789 1,022,500 5 1 / 4 % Senior Notes due 2030 (the “5 1 / 4 Notes due 2030”) (1) 1,300,000 (12,535) 1,287,465 1,261,000 1,300,000 (12,911) 1,287,089 1,355,250 4 1 / 2 % Senior Notes due 2031 (the “4 1 / 2 % Notes”) (1) 1,100,000 (11,093) 1,088,907 1,009,250 1,100,000 (11,404) 1,088,596 1,094,500 5% Senior Notes due 2032 (the “5% Notes due 2032”) 750,000 (13,499) 736,501 705,000 750,000 (13,782) 736,218 767,813 5 5 / 8 % Senior Notes due 2032 (the “5 5 / 8 % Notes”) (1) 600,000 (6,001) 593,999 590,250 600,000 (6,147) 593,853 637,500 Real Estate Mortgages, Financing Lease Liabilities and Other 446,394 (795) 445,599 446,394 460,648 (840) 459,808 460,648 Accounts Receivable Securitization Program 300,000 (450) 299,550 300,000 — (450) (450) — Total Long-term Debt 10,328,276 (94,085) 10,234,191 9,364,451 (92,510) 9,271,941 Less Current Portion (91,180) — (91,180) (310,084) 656 (309,428) Long-term Debt, Net of Current Portion $ 10,237,096 $ (94,085) $ 10,143,011 $ 9,054,367 $ (91,854) $ 8,962,513 (1) Collectively, the “Parent Notes”.
Schedule of Net Cash Position in Cash Pool Agreements	The approximate amount of the net cash position for our cash pools and the approximate amount of the gross position and outstanding debit balances for each of these pools as of March 31, 2022 and December 31, 2021 are as follows: MARCH 31, 2022 DECEMBER 31, 2021 GROSS CASH POSITION OUTSTANDING DEBIT BALANCES NET CASH POSITION GROSS CASH POSITION OUTSTANDING DEBIT BALANCES NET CASH POSITION BMG QRS Cash Pool $ 554,600 $ (553,100) $ 1,500 $ 552,900 $ (552,100) $ 800 BMG TRS Cash Pool 552,900 (551,700) 1,200 606,000 (603,900) 2,100 JPM QRS Cash Pool 13,600 (13,500) 100 9,400 (9,200) 200 JPM TRS Cash Pool 17,000 (16,600) 400 12,000 (9,900) 2,100

Stockholders' Equity Matters (T

Stockholders' Equity Matters (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of dividend declared and payments	In fiscal year 2021 and the three months ended March 31, 2022, our board of directors declared the following dividends: DECLARATION DATE DIVIDEND RECORD DATE TOTAL PAYMENT DATE February 24, 2021 $ 0.6185 March 15, 2021 $ 178,569 April 6, 2021 May 6, 2021 0.6185 June 15, 2021 179,026 July 6, 2021 August 5, 2021 0.6185 September 15, 2021 179,080 October 6, 2021 November 4, 2021 0.6185 December 15, 2021 179,132 January 6, 2022 February 24, 2022 0.6185 March 15, 2022 179,661 April 6, 2022

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of analysis of business segment information	An analysis of our business segment information and reconciliation to the accompanying Condensed Consolidated Financial Statements for the three months ended March 31, 2022 and 2021 is as follows: THREE MONTHS ENDED MARCH 31, 2022 2021 Global RIM Business Total Revenues $ 1,043,582 $ 967,294 Adjusted EBITDA 451,249 408,562 Global Data Center Business Total Revenues $ 96,987 $ 71,108 Adjusted EBITDA 41,977 30,432 Corporate and Other Business Total Revenues $ 107,477 $ 43,638 Adjusted EBITDA (62,232) (58,429) Total Consolidated Total Revenues $ 1,248,046 $ 1,082,040 Adjusted EBITDA 430,994 380,565
Schedule of reconciliation of net income (loss) to Adjusted EBITDA	A reconciliation of Net Income (Loss) to Adjusted EBITDA on a consolidated basis for the three months ended March 31, 2022 and 2021 is as follows: THREE MONTHS ENDED MARCH 31, 2022 2021 Net Income (Loss) $ 41,707 $ 46,631 Add/(Deduct): Interest expense, net 114,442 104,422 Provision (benefit) for income taxes 10,080 14,640 Depreciation and amortization 183,615 165,642 Acquisition and Integration Costs 15,661 — Restructuring Charges — 39,811 (Gain) loss on disposal/write-down of property, plant and equipment, net (including real estate) (705) (4,451) Other expense (income), net, excluding our share of losses (gains) from our unconsolidated joint ventures 53,515 2,121 Stock-based compensation expense 11,341 10,733 Our share of Adjusted EBITDA reconciling items from our unconsolidated joint ventures 1,338 1,016 Adjusted EBITDA $ 430,994 $ 380,565
Schedule of revenues by product and service lines by segment	Information as to our revenues by product and service lines by segment for the three months ended March 31, 2022 and 2021 are as follows: THREE MONTHS ENDED MARCH 31, 2022 2021 Global RIM Business Records Management (1) $ 802,553 $ 752,123 Data Management (1) 117,722 118,414 Information Destruction (1)(2) 123,307 96,757 Data Center (1) — — Global Data Center Business Records Management (1) $ — $ — Data Management (1) — — Information Destruction (1)(2) — — Data Center (1) 96,987 71,108 Corporate and Other Business Records Management (1) $ 33,689 $ 26,967 Data Management (1) 14,141 16,671 Information Destruction (1)(2)(3) 59,647 — Data Center (1) — — Total Consolidated Records Management (1) $ 836,242 $ 779,090 Data Management (1) 131,863 135,085 Information Destruction (1)(2)(3) 182,954 96,757 Data Center (1) 96,987 71,108 (1) Each of these offerings has a component of revenue that is storage rental related and a component that is service revenues, except for information destruction, which does not have a storage rental component. (2) Includes secure shredding services. (3) Includes product revenue from ITRenew.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Allowance for Doubtful Accounts and Credit Memo Reserves (Details) - Allowance for doubtful accounts $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance as of December 31, 2021	$ 62,009
Credit memos charged to revenue	12,352
Allowance for bad debts charged to expense	6,699
Deductions and other	(19,893)
BALANCE AT END OF THE PERIOD	$ 61,167

Summary of Significant Accoun_5

Summary of Significant Accounting Policies- Inventory (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Inventory	$ 24,900,000	$ 0

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Supplemental Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Operating lease right-of-use assets	$ 2,343,627	$ 2,314,422
Financing lease right-of-use assets, net of accumulated depreciation	284,468	298,049
Current
Operating lease liabilities	265,186	259,957
Finance lease liabilities	39,397	41,168
Long-term
Operating lease liabilities	2,196,846	2,171,472
Finance lease liabilities	$ 301,603	$ 315,561
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other current liabilities (includes current portion of operating lease liabilities)	Accrued expenses and other current liabilities (includes current portion of operating lease liabilities)
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current portion of long-term debt	Current portion of long-term debt
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term Debt, net of current portion	Long-term Debt, net of current portion

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Leases Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounting Policies [Abstract]
Operating lease cost	$ 143,530	$ 132,675
Depreciation of financing lease right-of-use assets	11,454	12,648
Interest expense for financing lease liabilities	4,678	4,975
Variable lease costs	$ 30,508	$ 28,368

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Supplemental Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounting Policies [Abstract]
Operating cash flows used in operating leases	$ 101,605	$ 93,645
Operating cash flows used in financing leases (interest)	4,678	4,975
Financing cash flows used in financing leases	10,362	12,441
Operating lease modifications and reassessments	23,767	31,994
New operating leases (including acquisitions and sale-leaseback transactions)	$ 125,902	$ 48,200

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Schedule of Changes in Carrying Value of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Gross amount of goodwill [Roll Forward]
Goodwill beginning balance	$ 4,463,531
Non-tax deductible goodwill acquired during the period	581,128
Fair value and other adjustments	(16,993)
Currency effects	(3,975)
Goodwill ending balance	5,023,691
Accumulated goodwill impairment	158,420
GLOBAL RIM BUSINESS
Gross amount of goodwill [Roll Forward]
Goodwill beginning balance	3,976,261
Non-tax deductible goodwill acquired during the period	978
Fair value and other adjustments	(16,993)
Currency effects	(672)
Goodwill ending balance	3,959,574
Accumulated goodwill impairment	132,409
GLOBAL DATA CENTER BUSINESS
Gross amount of goodwill [Roll Forward]
Goodwill beginning balance	426,074
Non-tax deductible goodwill acquired during the period	0
Fair value and other adjustments	0
Currency effects	(2,702)
Goodwill ending balance	423,372
Accumulated goodwill impairment	0
CORPORATE AND OTHER BUSINESS
Gross amount of goodwill [Roll Forward]
Goodwill beginning balance	61,196
Non-tax deductible goodwill acquired during the period	580,150
Fair value and other adjustments	0
Currency effects	(601)
Goodwill ending balance	640,745
Accumulated goodwill impairment	$ 26,011

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Fair Value Measurements (Details) - Fair value measured on recurring basis - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
QUOTED PRICES IN ACTIVE MARKETS (LEVEL 1)
Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis [Line Items]
Trading securities	$ 10,355	$ 11,062
Derivative asset	0	0
Derivative liability		0
Deferred Purchase Obligation (as defined in Note 3)	0
SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 2)
Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis [Line Items]
Trading securities	87	85
Derivative asset	19,443	11,021
Derivative liability		8,344
Deferred Purchase Obligation (as defined in Note 3)	0
SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)
Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis [Line Items]
Trading securities	0	0
Derivative asset	0	0
Derivative liability		0
Deferred Purchase Obligation (as defined in Note 3)	275,100
Estimate of Fair Value Measurement
Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis [Line Items]
Trading securities	10,442	11,147
Derivative asset	19,443	11,021
Derivative liability		8,344
Deferred Purchase Obligation (as defined in Note 3)	275,100
Money Market Funds | QUOTED PRICES IN ACTIVE MARKETS (LEVEL 1)
Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis [Line Items]
Cash and cash equivalents	0	0
Money Market Funds | SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 2)
Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis [Line Items]
Cash and cash equivalents	28,718	101,022
Money Market Funds | SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)
Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis [Line Items]
Cash and cash equivalents	0	0
Money Market Funds | Estimate of Fair Value Measurement
Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis [Line Items]
Cash and cash equivalents	28,718	101,022
Bank Time Deposits | QUOTED PRICES IN ACTIVE MARKETS (LEVEL 1)
Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis [Line Items]
Cash and cash equivalents	0	0
Bank Time Deposits | SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 2)
Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis [Line Items]
Cash and cash equivalents	3,167	2,238
Bank Time Deposits | SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)
Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis [Line Items]
Cash and cash equivalents	0	0
Bank Time Deposits | Estimate of Fair Value Measurement
Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis [Line Items]
Cash and cash equivalents	$ 3,167	$ 2,238

Summary of Significant Accou_11

Summary of Significant Accounting Policies - Accumulated Other Comprehensive Income and Other Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
AOCI Rollforward
Beginning of Period	$ 857,068	$ 1,136,729
Other comprehensive (loss) income):
Foreign currency translation and other adjustments	27,223	(66,224)
Change in fair value of derivative instruments	16,766	15,206
Total other comprehensive (loss) income	43,989	(51,018)
End of period	758,771	959,707
FOREIGN CURRENCY TRANSLATION AND OTHER ADJUSTMENTS
AOCI Rollforward
Beginning of Period	(341,024)	(206,190)
Other comprehensive (loss) income):
Foreign currency translation and other adjustments	27,223	(66,224)
Change in fair value of derivative instruments	0	0
Total other comprehensive (loss) income	27,223	(66,224)
End of period	(313,801)	(272,414)
CHANGE IN FAIR VALUE OF DERIVATIVE INSTRUMENTS
AOCI Rollforward
Beginning of Period	2,677	(49,703)
Other comprehensive (loss) income):
Foreign currency translation and other adjustments	0	0
Change in fair value of derivative instruments	16,766	15,206
Total other comprehensive (loss) income	16,766	15,206
End of period	19,443	(34,497)
TOTAL
AOCI Rollforward
Beginning of Period	(338,347)	(255,893)
Other comprehensive (loss) income):
End of period	$ (294,358)	$ (306,911)

Summary of Significant Accou_12

Summary of Significant Accounting Policies - Contract Fulfillment Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Intake Costs asset
Contract With Customer, Asset And Liabilities [Line Items]
GROSS CARRYING AMOUNT	$ 71,731	$ 71,336
ACCUMULATED AMORTIZATION	(45,432)	(42,678)
NET CARRYING AMOUNT	26,299	28,658
Commissions asset
Contract With Customer, Asset And Liabilities [Line Items]
GROSS CARRYING AMOUNT	121,501	114,791
ACCUMULATED AMORTIZATION	(54,356)	(50,553)
NET CARRYING AMOUNT	$ 67,145	$ 64,238

Summary of Significant Accou_13

Summary of Significant Accounting Policies - Summary of Deferred Revenue Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Deferred revenue - Current	$ 301,965	$ 307,470
Deferred revenue - Long-term	$ 31,532	$ 33,691

Summary of Significant Accou_14

Summary of Significant Accounting Policies - Storage Rental (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Lessor, Lease, Description [Line Items]
Storage rental	$ 751,070	$ 708,056
GLOBAL DATA CENTER BUSINESS
Lessor, Lease, Description [Line Items]
Storage rental	87,451	67,157
Storage Rental, Power and Connectivity | GLOBAL DATA CENTER BUSINESS
Lessor, Lease, Description [Line Items]
Storage rental	$ 28,318	$ 13,133

Summary of Significant Accou_15

Summary of Significant Accounting Policies - Stock-Based Compensation Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 85,449
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	11,341	$ 10,953
Restricted Stock Units
Summary of Option Activity
Total fair value of shares or units vested	18,415	19,861
Performance units
Summary of Option Activity
Total fair value of shares or units vested	$ 4,346	$ 5,591

Summary of Significant Accou_16

Summary of Significant Accounting Policies - Acquisition and Integration costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounting Policies [Abstract]
Acquisition and Integration Costs	$ 15,661	$ 0

Summary of Significant Accou_17

Summary of Significant Accounting Policies - Other (Income) Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounting Policies [Abstract]
Foreign currency transaction (gains) losses, net	$ (13,201)	$ 2,314
Debt extinguishment expense	671	0
Other, net	68,431	2,399
Other Expense (Income), Net	55,901	4,713
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss associated with OSG deconsolidation	105,825	0
Equity in Other Comprehensive (Loss) Income of Subsidiaries	35,821	$ 0
OSG Records Management (Europe) Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss associated with OSG deconsolidation	105,800
Clutter JV
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity in Other Comprehensive (Loss) Income of Subsidiaries	$ 35,800

Summary of Significant Accou_18

Summary of Significant Accounting Policies - Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounting Policies [Abstract]
Effective Tax Rate	19.50%	23.90%
Federal statutory tax rate	21.00%	21.00%
Deferred tax assets	$ 9,900

Summary of Significant Accou_19

Summary of Significant Accounting Policies - Income (Loss) Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income (Loss) Per Share-Basic and Diluted
Net Income (Loss)	$ 41,707	$ 46,631
Less: Net (Loss) Income Attributable to Noncontrolling Interests	(592)	1,028
Net Income (Loss) Attributable to Iron Mountain Incorporated	$ 42,299	$ 45,603
Weighted-average shares—basic (in shares)	290,328,000	288,756,000
Effect of dilutive potential stock options (in shares)	995,625	56,437
Effect of dilutive potential restricted stock, RSUs and PUs (in shares)	521,977	715,850
Weighted-average shares—diluted (in shares)	291,845,602	289,528,287
Basic (in dollars per share)	$ 0.15	$ 0.16
Diluted (in dollars per share)	$ 0.14	$ 0.16
Antidilutive stock options, RSUs and PUs, excluded from the calculation (in shares)	755,580	4,708,068

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Thousands	Jan. 25, 2022	Mar. 31, 2022	Mar. 31, 2021	Jan. 25, 2025	Jan. 25, 2024
Business Acquisition [Line Items]
Cash paid for acquisition		$ 717,907	$ 0
ITRenew
Business Acquisition [Line Items]
Ownership acquired	80.00%
Total Consideration	$ 725,000
Cash Paid (gross of cash acquired)	748,846
Net cash acquired	30,720
Cash paid for acquisition	$ 718,126
Possible subsequent percentage acquired	20.00%
Deferred Purchase Obligation (as defined in Note 3)	$ 275,100
Consolidation percentage	100.00%
ITRenew | Minimum
Business Acquisition [Line Items]
Value of possible subsequent acquisition	$ 200,000
ITRenew | Maximum
Business Acquisition [Line Items]
Value of possible subsequent acquisition	$ 531,000
ITRenew | Second Anniversary | Forecast
Business Acquisition [Line Items]
Possible subsequent percentage acquired					16.00%
ITRenew | Third Anniversary | Forecast
Business Acquisition [Line Items]
Possible subsequent percentage acquired				4.00%
2022 Acquisitions
Business Acquisition [Line Items]
Total Consideration		1,025,146
Cash Paid (gross of cash acquired)		748,846
Deferred Purchase Obligation (as defined in Note 3)		$ 275,100

Acquisitions - Schedule of Purc

Acquisitions - Schedule of Purchase Price Allocation (Details) - USD ($) $ in Thousands	Jan. 25, 2022	Mar. 31, 2022	Dec. 31, 2021
Fair Value of Identifiable Assets Acquired and Liabilities Assumed:
Operating Lease Liabilities		$ (2,196,846)	$ (2,171,472)
Goodwill Initially Recorded(4)		5,023,691	$ 4,463,531
2022 Acquisitions
Business Acquisition [Line Items]
Cash Paid (gross of cash acquired)		748,846
Deferred Purchase Obligation and Other		276,300
Total Consideration		1,025,146
Fair Value of Identifiable Assets Acquired and Liabilities Assumed:
Cash		30,720
Accounts Receivable, Prepaid Expenses and Other Assets		71,892
Property, plant and equipment		7,600
Intangible assets		47,300
Operating Lease Right-of-Use Assets		30,395
Accounts Payable, Accrued Expenses and Other Liabilities		(60,014)
Operating Lease Liabilities		(30,395)
Deferred Income Taxes		(141,560)
Total Fair Value of Identifiable Net Assets Acquired		444,018
Goodwill Initially Recorded(4)		581,128
Proceeds from previous acquisition		219
Deferred Purchase Obligation (as defined in Note 3)		275,100
2022 Acquisitions | Customer Relationships
Fair Value of Identifiable Assets Acquired and Liabilities Assumed:
Intangible assets		$ 488,080
ITRenew
Business Acquisition [Line Items]
Cash Paid (gross of cash acquired)	$ 748,846
Total Consideration	725,000
Fair Value of Identifiable Assets Acquired and Liabilities Assumed:
Deferred Purchase Obligation (as defined in Note 3)	$ 275,100
Acquired finite-lived intangible assets, weighted average useful life		11 years
GLOBAL RIM BUSINESS
Fair Value of Identifiable Assets Acquired and Liabilities Assumed:
Purchase price holdback		$ 1,200

Investments- Narrative (Details

Investments- Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2022	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Gain associated with Clutter Transaction		$ 35,821	$ 0
MakeSpace JV
Schedule of Equity Method Investments [Line Items]
Ownership percentage	49.99%	0.00%		49.99%
Gain associated with Clutter Transaction	$ 35,800
Clutter JV
Schedule of Equity Method Investments [Line Items]
Ownership percentage	27.00%	26.76%		0.00%

Investments- Schedule of Invest

Investments- Schedule of Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Feb. 28, 2022	Dec. 31, 2021
Web Werks India Private Limited
Schedule of Equity Method Investments [Line Items]
Equity investments	$ 51,258		$ 51,140
Ownership percentage	38.50%		38.50%
Frankfurt JV
Schedule of Equity Method Investments [Line Items]
Equity investments	$ 26,472		$ 26,167
Ownership percentage	20.00%		20.00%
MakeSpace JV
Schedule of Equity Method Investments [Line Items]
Equity investments	$ 0		$ 30,154
Ownership percentage	0.00%	49.99%	49.99%
Clutter JV
Schedule of Equity Method Investments [Line Items]
Equity investments	$ 66,625		$ 0
Ownership percentage	26.76%	27.00%	0.00%

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Additional Information (Details)	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2020EUR (€)	Aug. 31, 2019USD ($)	Aug. 31, 2019EUR (€)
Interest Rate Swap Agreements
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 350,000,000	$ 350,000,000
Cross-currency Swap Agreements | Net Investment Hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount			$ 359,200,000	€ 300,000,000	$ 110,000,000	€ 99,055,000
Interest rate (as a percent)			4.50%	4.50%	6.00%	6.00%
Weighted average interest rate (as a percent)			3.40%	3.40%	3.65%	3.65%

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Net Investment Hedges (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Other Assets, Net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset	$ 19,443		$ 11,021
Accrued Expenses And Other Current Liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liabilities			(2,082)
Other Long-Term Liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liabilities			(6,262)
Net Investment Hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cumulative net gain in cross-currency swaps	15,653
Interest Rate Swap Agreements
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cumulative net gain in AOCI	3,790
Interest Rate Swap Agreements | Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liabilities			(7,680)
Derivative asset	3,790
Interest Rate Swap Agreements | Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized gains (losses) associated with interest rate swap agreements	11,470	$ 4,201
August 2023 Cross Currency Swap Agreements | Net Investment Hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liabilities			(664)
Derivative asset	219
August 2023 Cross Currency Swap Agreements | Designated as Hedging Instrument | Net Investment Hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized gains (losses) associated with cross-currency swaps	883	4,751
February 2026 Cross Currency Swap Agreements | Net Investment Hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset	15,434		$ 11,021
February 2026 Cross Currency Swap Agreements | Designated as Hedging Instrument | Net Investment Hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized gains (losses) associated with cross-currency swaps	$ 4,413	$ 6,254

Debt - Schedule of Long Term De

Debt - Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
DEBT (INCLUSIVE OF DISCOUNT)	$ 10,328,276	$ 9,364,451
UNAMORTIZED DEFERRED FINANCING COSTS	(94,085)	(92,510)
CARRYING AMOUNT	10,234,191	9,271,941
Long-term debt, gross, current maturities	(91,180)	(310,084)
Long term debt, gross, net of current portion	10,237,096	9,054,367
Unamortized deferred financing costs, current	0	656
Unamortized deferred financing costs, noncurrent	(94,085)	(91,854)
Carrying amount, current maturities	(91,180)	(309,428)
Carrying amount, excluding current maturities	10,143,011	8,962,513
Australian Dollar Term Loan (the AUD Term Loan)
Debt Instrument [Line Items]
DEBT (INCLUSIVE OF DISCOUNT)	226,517	223,182
UNAMORTIZED DEFERRED FINANCING COSTS	(517)	(656)
CARRYING AMOUNT	226,000	222,526
FAIR VALUE	229,130	223,530
Real Estate Mortgages, Financing Lease Liabilities and Other
Debt Instrument [Line Items]
DEBT (INCLUSIVE OF DISCOUNT)	446,394	460,648
UNAMORTIZED DEFERRED FINANCING COSTS	(795)	(840)
CARRYING AMOUNT	445,599	459,808
FAIR VALUE	446,394	460,648
Accounts Receivable Securitization Program
Debt Instrument [Line Items]
DEBT (INCLUSIVE OF DISCOUNT)	300,000	0
UNAMORTIZED DEFERRED FINANCING COSTS	(450)	(450)
CARRYING AMOUNT	299,550	(450)
FAIR VALUE	300,000	0
New Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
DEBT (INCLUSIVE OF DISCOUNT)	650,000	0
UNAMORTIZED DEFERRED FINANCING COSTS	(10,096)	(5,174)
CARRYING AMOUNT	639,904	(5,174)
FAIR VALUE	650,000	0
Term Loan A | Term Loan Facility
Debt Instrument [Line Items]
DEBT (INCLUSIVE OF DISCOUNT)	250,000	203,125
UNAMORTIZED DEFERRED FINANCING COSTS	0	0
CARRYING AMOUNT	250,000	203,125
FAIR VALUE	250,000	203,125
Term Loan B | Term Loan Facility
Debt Instrument [Line Items]
DEBT (INCLUSIVE OF DISCOUNT)	671,153	672,847
UNAMORTIZED DEFERRED FINANCING COSTS	(4,683)	(4,995)
CARRYING AMOUNT	666,470	667,852
FAIR VALUE	672,000	675,500
UK Bilateral Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
DEBT (INCLUSIVE OF DISCOUNT)	183,870	189,168
UNAMORTIZED DEFERRED FINANCING COSTS	(525)	(709)
CARRYING AMOUNT	183,345	188,459
FAIR VALUE	$ 183,870	189,168
GBP Senior Notes due 2025 3.875 Percent | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	3.875%
DEBT (INCLUSIVE OF DISCOUNT)	$ 525,342	540,481
UNAMORTIZED DEFERRED FINANCING COSTS	(3,554)	(3,912)
CARRYING AMOUNT	521,788	536,569
FAIR VALUE	$ 521,560	542,508
Senior Notes 4.875 Percent due 2027 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.875%
DEBT (INCLUSIVE OF DISCOUNT)	$ 1,000,000	1,000,000
UNAMORTIZED DEFERRED FINANCING COSTS	(7,821)	(8,176)
CARRYING AMOUNT	992,179	991,824
FAIR VALUE	$ 987,500	1,030,000
Senior Notes 5.25 Percent due 2028 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.25%
DEBT (INCLUSIVE OF DISCOUNT)	$ 825,000	825,000
UNAMORTIZED DEFERRED FINANCING COSTS	(7,085)	(7,380)
CARRYING AMOUNT	817,915	817,620
FAIR VALUE	$ 814,688	862,125
Senior Notes 5 Percent Due 2028 Member | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.00%
DEBT (INCLUSIVE OF DISCOUNT)	$ 500,000	500,000
UNAMORTIZED DEFERRED FINANCING COSTS	(4,582)	(4,763)
CARRYING AMOUNT	495,418	495,237
FAIR VALUE	$ 485,000	513,750
Senior Notes 4.875 Percent due 2029 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.875%
DEBT (INCLUSIVE OF DISCOUNT)	$ 1,000,000	1,000,000
UNAMORTIZED DEFERRED FINANCING COSTS	(10,849)	(11,211)
CARRYING AMOUNT	989,151	988,789
FAIR VALUE	$ 950,000	1,022,500
Senior Notes 5.25 Percent Due 2030 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.25%
DEBT (INCLUSIVE OF DISCOUNT)	$ 1,300,000	1,300,000
UNAMORTIZED DEFERRED FINANCING COSTS	(12,535)	(12,911)
CARRYING AMOUNT	1,287,465	1,287,089
FAIR VALUE	$ 1,261,000	1,355,250
Senior Notes 4.5 Percent Due 2031 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.50%
DEBT (INCLUSIVE OF DISCOUNT)	$ 1,100,000	1,100,000
UNAMORTIZED DEFERRED FINANCING COSTS	(11,093)	(11,404)
CARRYING AMOUNT	1,088,907	1,088,596
FAIR VALUE	$ 1,009,250	1,094,500
Senior Notes 5 Percent Due 2032 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.00%
DEBT (INCLUSIVE OF DISCOUNT)	$ 750,000	750,000
UNAMORTIZED DEFERRED FINANCING COSTS	(13,499)	(13,782)
CARRYING AMOUNT	736,501	736,218
FAIR VALUE	$ 705,000	767,813
Senior Notes 5.625 Percent Due 2032 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.625%
DEBT (INCLUSIVE OF DISCOUNT)	$ 600,000	600,000
UNAMORTIZED DEFERRED FINANCING COSTS	(6,001)	(6,147)
CARRYING AMOUNT	593,999	593,853
FAIR VALUE	$ 590,250	$ 637,500

Debt - Credit Agreements (Detai

Debt - Credit Agreements (Details)	Mar. 31, 2022USD ($)	Mar. 18, 2022measurement	Mar. 17, 2022USD ($)measurement	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
Leveraged leases, adjusted covenant ratio | measurement		7	6.5
Outstanding borrowings	$ 10,328,276,000			$ 9,364,451,000
Revolving Credit Facility
Debt Instrument [Line Items]
Letters of credit outstanding	3,056,000
Remaining capacity	1,596,944,000
New Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	2,250,000,000		$ 1,750,000,000
Outstanding borrowings	$ 650,000,000			$ 0
Average interest rate (as a percent)	2.20%			1.90%
Term Loan A | Term Loan Facility
Debt Instrument [Line Items]
Principal amount	$ 250,000,000
Outstanding borrowings	$ 250,000,000			$ 203,125,000
Average interest rate (as a percent)	2.10%
Term B Loan Facility | Term Loan Facility
Debt Instrument [Line Items]
Principal amount	$ 700,000,000
Outstanding borrowings	$ 672,000,000
Average interest rate (as a percent)	2.90%

Debt - Australian Dollar Term L

Debt - Australian Dollar Term Loan (Details) $ in Thousands, $ in Thousands	Mar. 18, 2022	Dec. 31, 2021USD ($)	Mar. 31, 2022USD ($)	Mar. 31, 2022AUD ($)
Debt Instrument [Line Items]
Outstanding borrowings		$ 9,364,451	$ 10,328,276
Australian Dollar Term Loan (the AUD Term Loan)
Debt Instrument [Line Items]
Outstanding borrowings		$ 223,182	$ 226,517
Australian Dollar Term Loan (the AUD Term Loan) | BBSY
Debt Instrument [Line Items]
Outstanding borrowings				$ 305,889
Debt instrument, basis spread on variable rate	3.625%	3.875%
Effective interest rate (as a percent)		4.00%	3.90%	3.90%

Debt - Cash Pooling (Details)

Debt - Cash Pooling (Details) $ in Thousands	Mar. 31, 2022USD ($)cash_pool	Dec. 31, 2021USD ($)
Bank Mendes Gans
Debt Instrument [Line Items]
Number of cash pools | cash_pool	2
JP Morgan Chase Bank
Debt Instrument [Line Items]
Number of cash pools | cash_pool	2
QRS Cash Pool | Bank Mendes Gans
Debt Instrument [Line Items]
Number of cash pools | cash_pool	1
GROSS CASH POSITION	$ 554,600	$ 552,900
OUTSTANDING DEBIT BALANCES	(553,100)	(552,100)
NET CASH POSITION	$ 1,500	800
QRS Cash Pool | JP Morgan Chase Bank
Debt Instrument [Line Items]
Number of cash pools | cash_pool	1
GROSS CASH POSITION	$ 13,600	9,400
OUTSTANDING DEBIT BALANCES	(13,500)	(9,200)
NET CASH POSITION	$ 100	200
TRS Cash Pool | Bank Mendes Gans
Debt Instrument [Line Items]
Number of cash pools | cash_pool	1
GROSS CASH POSITION	$ 552,900	606,000
OUTSTANDING DEBIT BALANCES	(551,700)	(603,900)
NET CASH POSITION	$ 1,200	2,100
TRS Cash Pool | JP Morgan Chase Bank
Debt Instrument [Line Items]
Number of cash pools | cash_pool	1
GROSS CASH POSITION	$ 17,000	12,000
OUTSTANDING DEBIT BALANCES	(16,600)	(9,900)
NET CASH POSITION	$ 400	$ 2,100

Debt - Letters of Credit (Detai

Debt - Letters of Credit (Details) - Credit Agreement $ in Thousands	Mar. 31, 2022USD ($)
Debt Instrument [Line Items]
Letters of credit outstanding	$ 36,498
Revolving Credit Facility
Debt Instrument [Line Items]
Letters of credit outstanding	$ 3,056

Commitments and Contingencies -

Commitments and Contingencies - (Details) $ in Thousands	Mar. 31, 2022USD ($)
Insurance settlement
Commitments and Contingencies
Reasonably possible additional losses	$ 25,000

Stockholders' Equity Matters -

Stockholders' Equity Matters - Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Thousands

Apr. 28, 2022

Apr. 06, 2022

Feb. 24, 2022

Jan. 06, 2022

Nov. 04, 2021

Oct. 06, 2021

Aug. 05, 2021

Jul. 06, 2021

May 06, 2021

Apr. 06, 2021

Feb. 24, 2021

Mar. 31, 2022

Mar. 31, 2021

Debt Instrument [Line Items]

DIVIDEND PER SHARE (in dollars per share)

$ 0.6185

$ 0.6185

$ 0.6185

$ 0.6185

$ 0.6185

TOTAL AMOUNT

$ 179,132

$ 179,080

$ 179,026

$ 178,569

$ 181,023

$ 178,685

Subsequent Event

Debt Instrument [Line Items]

DIVIDEND PER SHARE (in dollars per share)

$ 0.6185

TOTAL AMOUNT

$ 179,661

Segment Information - Additiona

Segment Information - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021segment
Segment Reporting [Abstract]
Number of operating segments	3

Segment Information - Segment R

Segment Information - Segment Reporting Information by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Total Revenues	$ 1,248,046	$ 1,082,040
Adjusted EBITDA	430,994	380,565
GLOBAL RIM BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	1,043,582	967,294
Adjusted EBITDA	451,249	408,562
GLOBAL DATA CENTER BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	96,987	71,108
Adjusted EBITDA	41,977	30,432
CORPORATE AND OTHER BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	107,477	43,638
Adjusted EBITDA	$ (62,232)	$ (58,429)

Segment Information - Reconcili

Segment Information - Reconciliation to of Net Income to Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reconciliation to of Net Income to Adjusted EBITDA
Net Income (Loss)	$ 41,707	$ 46,631
Interest expense, net	114,442	104,422
Provision (benefit) for income taxes	10,080	14,640
Depreciation and amortization	183,615	165,642
Acquisition and Integration Costs	15,661	0
Restructuring Charges	0	39,811
(Gain) loss on disposal/write-down of property, plant and equipment, net (including real estate)	(705)	(4,451)
Other expense (income), net, excluding our share of losses (gains) from our unconsolidated joint ventures	53,515	2,121
Stock-based compensation expense	11,341	10,733
Our share of Adjusted EBITDA reconciling items from our unconsolidated joint ventures	1,338	1,016
Adjusted EBITDA	$ 430,994	$ 380,565

Segment Information - Revenues

Segment Information - Revenues by Product and Service Lines by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Total Revenues	$ 1,248,046	$ 1,082,040
GLOBAL RIM BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	1,043,582	967,294
GLOBAL DATA CENTER BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	96,987	71,108
CORPORATE AND OTHER BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	107,477	43,638
Records management
Segment Reporting Information [Line Items]
Total Revenues	836,242	779,090
Records management | GLOBAL RIM BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	802,553	752,123
Records management | GLOBAL DATA CENTER BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	0	0
Records management | CORPORATE AND OTHER BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	33,689	26,967
Data management
Segment Reporting Information [Line Items]
Total Revenues	131,863	135,085
Data management | GLOBAL RIM BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	117,722	118,414
Data management | GLOBAL DATA CENTER BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	0	0
Data management | CORPORATE AND OTHER BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	14,141	16,671
Information destruction
Segment Reporting Information [Line Items]
Total Revenues	182,954	96,757
Information destruction | GLOBAL RIM BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	123,307	96,757
Information destruction | GLOBAL DATA CENTER BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	0	0
Information destruction | CORPORATE AND OTHER BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	59,647	0
Data center
Segment Reporting Information [Line Items]
Total Revenues	96,987	71,108
Data center | GLOBAL RIM BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	0	0
Data center | GLOBAL DATA CENTER BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	96,987	71,108
Data center | CORPORATE AND OTHER BUSINESS
Segment Reporting Information [Line Items]
Total Revenues	$ 0	$ 0

Related Parties - (Details)

Related Parties - (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Frankfurt JV
Related Party Transaction [Line Items]
Revenue	$ 7,100	$ 1,060
Makespace And Clutter
Related Party Transaction [Line Items]
Revenue	$ 7,000	$ 7,500

Project Summit - Restructuring

Project Summit - Restructuring Charges (Details) - USD ($)	1 Months Ended	3 Months Ended
	Oct. 31, 2019	Mar. 31, 2022	Mar. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		$ 0	$ 39,811,000
Project Summit costs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 450,000,000	$ 0	39,811,000
Employee Severance | Project Summit costs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			3,808,000
Accrued Professional Fees | Project Summit costs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			$ 36,003,000